The S&P/ASX 200 Index (ASX: XJO) was on form in November and charged higher.
Over the period, the benchmark index rose 4.5% to finish the period at 7,087.3 points.
While most ASX 200 shares climbed with the market, some stood out with particularly strong gains. Here's why these were the best performers on the index last month:
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Block Inc (ASX: SQ2)
The Block share price was the best performer on the ASX 200 index in November with a stunning 59% gain. This was driven largely by a stronger-than-expected quarterly update from the payments company early in the month. Block's third-quarter update revealed a 24% increase in revenue to US$5.62 billion and a 21% lift in gross profit to US$1.9 billion for the three months.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price wasn't too far behind with a very strong 45% gain in November. This was driven by the release of a sales up for its Daybue product. Neuren advised that its partner Acadia Pharmaceuticals (NASDAQ: ACAD) delivered Q3 Daybue net sales in the United States of US$66.9 million. It also provided guidance for net sales in Q4 2023 of between US$80 million and US$87.5 million. This means that Neuren expects to receive royalties of A$10.4 million for Q3 and A$12.5 million to A$13.7 million for Q4.
Iress Ltd (ASX: IRE)
The Iress share price was on form last month and raced almost 41% higher. This was driven by bargain hunters picking up the ASX 200 financial technology company's shares following a huge decline in the prior months. In addition, on the final day of November, its shares jumped 15% in response to a strategy update and a guidance upgrade.
Cromwell Property Group (ASX: CMW)
The Cromwell Property share price caught the eye in November with a gain of 38%. This appears to have been driven by bargain hunters buying ASX 200 real estate shares after heavy declines in the sector earlier in the year. This led to the S&P/ASX 200 Real Estate Index (ASX: XRE) rising almost 11% last month. The index remains down 5% on a 12-month basis.
