Afterpay and these shares were the best performers on the ASX 200 in June

Afterpay Ltd (ASX:APT) and these shares were the best performers on the ASX 200 in June. Here's why they smashed the market last month…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »