The S&P/ASX 200 Index (ASX: XJO) had a disappointing end to the week, but that couldn’t stop the benchmark index from recording another solid weekly gain. The index rose 1.2% over the five days to end it at 6,176.8 points.
While a good number of shares climbed higher, some stood out with particularly strong gains. Here’s why these were the best performers on the ASX 200 last week:
Unibail-Rodamco-Westfield (ASX: URW)
The Unibail-Rodamco-Westfield share price was the best performer on the ASX 200 last week with a 23.3% gain. Investors were buying the shopping centre operator’s shares after it announced a deal to sell its SHiFT office building in Paris for 620 million euros. In addition to this, a large group of shareholders put pressure on the company to scrap its $5.8 billion capital raising and sell its U.S. portfolio instead.
Link Administration Holdings Ltd (ASX: LNK)
The Link Administration share price wasn’t far behind with a massive 21.6% gain. The catalyst for this was the administration services provider receiving a takeover approach from a consortium comprising Pacific Equity Partners, Carlyle Group, and their affiliates. An offer of $5.20 cash per share was tabled. Major shareholder Perpetual Limited (ASX: PPT) intends to vote in favour of the proposal.
GUD Holdings Limited (ASX: GUD)
The GUD share price was on form and stormed 12.5% higher last week. The majority of this gain came after the release of its first quarter update. The products company has experienced strong sales growth across both its Automotive and Water divisions so far in FY 2021. This led to GUD reporting a 14% increase in first quarter group sales. Though, due to the uncertainty caused by COVID-19, management hasn’t been able to provide any guidance.
Super Retail Group Ltd (ASX: SUL)
The Super Retail share price was a positive performer and climbed 9.9% over the five days. This appears to have been driven by GUD’s strong update and an even stronger one by auto retailer Eagers Automotive Ltd (ASX: APE). The latter update revealed a significant rebound in car sales during the third quarter of FY 2020. This bodes well for the company’s Supercheap Auto business.
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Returns as of 6th October 2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Link Administration Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Link Administration Holdings Ltd. 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.
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