The S&P/ASX 200 Index (ASX: XJO) was on form last month and recorded a decent 2.5% gain to end the period at 5,897.9 points.
While a good number of shares on the index pushed higher, some climbed more than most. Here’s why these were the best performing ASX 200 shares in June:
The Afterpay Ltd (ASX: APT) share price was the best performer on the index last month with a 28.6% gain. Investors continued to buy the payments company’s shares in June following a series of very positive industry updates. One that was released late in the month was related to its UK operations. That update revealed that Afterpay’s UK-based Clearpay business has reached 1 million active customers just one year after launching. Management also advised that the frequency of use in the UK has been stronger than at the same point after launch in the United States.
The Healius Ltd (ASX: HLS) share price wasn’t far behind with a 25.5% gain in June. Investors were buying the healthcare company’s shares after it announced the sale of its medical centres business. Healius is selling the assets to private equity firm BGH Capital for an enterprise value of $500 million. The proceeds will be used to reduce net debt and free up capital for investments.
The Boral Limited (ASX: BLD) share price jumped a sizeable 21.9% in June. The catalyst for this gain appears to have been speculation that the building materials company could be a takeover target. This follows news that Seven Group Holdings Ltd (ASX: SVW) has been increasing its stake in the company considerably. At the end of the month, Seven Group revealed that it now owns a 12.19% stake in the company.
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price was on form again in June and rose 18.5%. This strong gain appears to have been driven by the increasing number of COVID-19 infections globally. Investors appear to believe this could lead to strong demand for its ventilators over the coming months. Also supporting its share price was the release of a stronger than expected full year result at the end of the month.