These were the best performing ASX 200 shares last week

Pro Medicus Limited (ASX:PME) and Qantas Airways Limited (ASX:QAN) shares were among the best performers on the ASX 200 last week…

High Five, happy, business

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

U.S. COVID-19 stimulus uncertainty weighed on sentiment last week and led to the S&P/ASX 200 Index (ASX: XJO) dropping lower. The benchmark index lost 9.8 points or 0.2% of its value to end at 6,167 points.

Fortunately, not all shares dropped lower with the market. Here's why these were the best performers on the ASX 200 last week:

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price was the best performer on the ASX 200 last week with a 12% gain. This appears to have been a delayed reaction to an announcement a week earlier which revealed that the healthcare imaging software provider has signed a milestone contract in Germany. Pro Medicus has signed a seven-year deal with LMU Klinikum worth a total of A$10 million. The contract will see its Visage 7 technology deployed throughout LMU Klinikum's radiology and subspecialty imaging departments.

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price was on form and charged 9.2% higher over the five days. All of this gain came on the final day of the week after the steel producer released its guidance for the first half of FY 2021. According to the release, BlueScope expects to report underlying earnings before interest and tax (EBIT) of $340 million for the first half. This represents a 30% increase on the second half of FY 2020 and a 12.4% lift on the prior corresponding period.

Qantas Airways Limited (ASX: QAN)

The Qantas share price wasn't far behind with a gain of 8.1% last week. A reduction in COVID-19 cases in Australia and its annual general meeting presentation appear to have helped drive its shares higher. The latter revealed significant cost cutting plans and management's belief that it will win a greater share of the domestic market due to Virgin Australia's new strategy.

Challenger Ltd (ASX: CGF)

The Challenger share price was a positive performer last week and rose 7.9%. This latest gain stretched the annuities company's month to date gain to a sizeable 25%. A week earlier Challenger released its first quarter update and reaffirmed its guidance for FY 2021. It continues to expect normalised net profit before tax in the range of $390 million and $440 million.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Pro Medicus 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.

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 »