These were the best performing ASX 200 shares last week

Not all ASX 200 shares tumbled lower last week…

| More on:
A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today

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 well and truly out of form last week. The benchmark index had its worst week in two years, dropping 4.2% to 6,932 points.

Fortunately, not all shares dropped with the market. Here’s why these were the best performing ASX 200 shares:

Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price was the best performer on the ASX 200 last week with a 13% gain. This was driven by news that IFM Global Infrastructure Fund has acquired a 15% stake in the toll road operator with a view of making a takeover proposal. Though, on Friday, the company revealed that it has denied a request from IFM for access to non-public information to help it form a takeover proposal.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price was the next best performer with a gain of 9.5% over the five days. Investors were bidding energy shares higher last week after oil prices climbed to 13-week highs. This was driven by tight supplies and strong US gasoline demand.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price wasn’t far behind with a gain of 7.5% last week. Investors were buying this gambling company’s shares after it settled its Racing Queensland litigation for $150 million. However, that’s only part of the story. This settlement is conditional upon the commencement of legislation that will implement proposed reforms by the Queensland Government relating to the wagering taxation and racing industry funding model. These reforms will be a very big boost to Tabcorp’s business.

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price was on form and charged 6% higher last week. This follows the release of an above average east coast winter crop forecast by ABARES. This went down well with analysts at Macquarie. In response, the broker retained its outperform rating and $11.10 price target on GrainCorp’s shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why CSL, IPH, Renascor, and Treasury Wine shares are pushing higher

These ASX shares are having strong days. Here's why...

Read more »

Three children wearing athletic short and singlets stand side by side on a running track wearing medals around their necks and standing with their hands on their hips.
Share Gainers

3 tiny ASX mining shares leaping over 20% on project announcements

Why are these shares soaring today?

Read more »

a small boy dressed in a superhero outfit soars into the sky with a graphic backdrop of a cityscape.
Resources Shares

Guess which ASX lithium share just rocketed 20%

The Aussie-based lithium explorer is now the largest holder of lithium mining claims in the US state of South Dakota.

Read more »

Female miner smiling at a mine site.
Share Gainers

Why has the Mineral Resources share price surged 40% in a month?

What a month it has been for Mineral Resources shares.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

Why Brambles, Challenger, Nearmap, and Super Retail shares are rising today

These ASX shares are having strong days...

Read more »

Three women cruise along enjoying ice-creams in the sunshine.
Share Gainers

3 ASX 300 shares having a cracking session today

These ASX 300 shares are parading big gains today...

Read more »

Three happy shoppers.
Retail Shares

Why are ASX 200 retail shares having such a stellar run today?

ASX 200 retail shares are on fire today. What's put a rocket under this ASX 200 sector?

Read more »

Rocket powering up and symbolising a rising share price.
Share Gainers

Guess which tiny ASX mining share just rocketed 45% on new copper and gold finds

The micro-cap ASX miner is hitting some rich mineral veins in the Northern Territory.

Read more »