These were the best performing ASX 200 shares last week

Bendigo and Adelaide Bank Ltd (ASX:BEN) and Mesoblast limited (ASX:MSB) shares were among the worst performers on the ASX 200 last week…

jump in asx share price represented by man jumping in the air in celebration

Image source: Getty Images

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 again last week and charged higher again. The benchmark index rose 2.1% to 6,539.2 points thanks to further positive vaccine news.

While a good number of shares climbed higher with the market, a few recorded particularly strong gains.

Here's why these were the best performing ASX 200 shares last week:

Unibail-Rodamco-Westfield CDI (ASX: URW)

The Unibail-Rodamco-Westfield share price was the best performer on the ASX 200 last week with a 25.7% gain. Investors have been buying the shopping centre operator's shares amid hopes that the COVID-19 vaccine will give its struggling business a big lift in 2021. Despite its strong gains in recent weeks, the company's shares are still down 60% from their 52-week high.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price was on form and charged 14.5% higher over the five days. This was despite there being no news out of the regional bank. However, a number of bank shares recorded strong gains last week after investor sentiment improved greatly in the sector. This may have been driven by the vaccine news and hopes that APRA would soon remove its limits on bank dividends.

Alumina Limited (ASX: AWC)

The Alumina share price wasn't far behind with a 12.8% gain last week. Once again, this was despite there being no news out of the alumina and bauxite company. However, with aluminium prices on an upward trend, investors may be feeling confident about the company's prospects in FY 2021.

Mesoblast limited (ASX: MSB)

The Mesoblast share price was a strong performer last week and stormed 12% higher. Almost all of this gain came on Friday following the announcement of an agreement with pharma giant Novartis. The two parties have agreed an exclusive worldwide license and collaboration agreement for the development, manufacture, and commercialisation of Mesoblast's mesenchymal stromal cell product remestemcel-L. Novartis will make a US$50 million upfront payment and could pay upwards of US$1.25 billion milestone payments.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 »