Guess which 3 ASX 200 shares are leading the charge higher this week

Investors piled into these three ASX 200 shares over the week. But why?

| More on:
Three hikers lift their arms in jubilation as they reach a rocky peak overlooking a sensational view of water and mountains with a blue sky surrounding them.

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

Three S&P/ASX 200 Index (ASX: XJO) shares did more than their fair share to help stem the benchmark index's losses this week.

With less than half a trading session left in the week, the ASX 200 is down 0.8% since last Friday's closing bell.

The benchmark index is up 0.5% in afternoon trade today and finished up 0.8% on Monday but lost ground on the other three trade days.

However, these three ASX 200 shares managed to gain 4.2%, 6.5% and 9.2% over this same period.

One provides medical imaging technology. Another is a holding company focused on bauxite and alumina. The third is a dairy processor and food manufacturer.

Any guesses?

Keep those in mind as we move on to the big reveal.

Three ASX 200 shares leaping higher this week

First up, we have Alumina Ltd (ASX: AWC).

The Alumina share price closed last Friday at $1.74. At the time of writing, shares are swapping hands for $1.90 apiece, up 9.2%.

With no price sensitive news out from the ASX 200 share this week, investors appear to have been buying the company amid a strong, ongoing increase in global aluminium prices. Aluminium was trading for US$2,621 per tonne last Friday. That same tonne is worth US$2,703 today, up 3.1%.

Aluminium prices are up 16% year to date.

Which brings us to the second ASX 200 share leading the charge higher this week, Bega Cheese Ltd (ASX: BGA).

The Bega Cheese share price closed last Friday at $4.31. In afternoon trade today, shares are changing hands for $4.50 apiece, up 4.2%.

All of those gains, and then some, are being scored today, with Bega Cheese shares up 7.2% in intraday trading.

The last price sensitive announcement from the company was way back in February.

So, I believe today's big price surge could be based on investor speculations that milk prices may be coming down over the months ahead, reducing the company's input costs.

Rounding out the list of ASX 200 shares topping the leaderboard this week is Pro Medicus Ltd (ASX: PME).

(Did you guess all three?)

The Pro Medicus share price closed last Friday at $115.70. At the time of writing, shares are changing hands for $123.23, up 6.5%.

Investors have been bidding up the stock since Tuesday when the company announced it had inked five new customer contracts with a combined value of at least $45 million.

The company said the contracts would be fully cloud-deployed. Management expects them to be completed within the next six months.

Likely helping spur interest in the ASX 200 share, CEO Sam Hupert noted, "Despite record new contract signings this year, our pipeline remains strong with a broad range of opportunities both in terms of size and market segments."

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Broker Notes

Guess which ASX 300 share could rise over 50%

Bell Potter sees huge upside for this buy-rated stock. Let's see why it is bullish.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

A better session is expected for Aussie investors today.

Read more »

a man at the wheel of car with dashboard in view, driver technology shares,

Is this ASX All Ords retail stock too cheap to ignore?

It's tough to be a retailer, but is the market punishing this ASX small cap share too much?

Read more »

Two IT professionals walk along a wall of mainframes in a data centre discussing various things
Energy Shares

What Bill Gates, ASX uranium shares and the AI revolution have in common

ASX uranium shares could be tapped to make up for banned Russian imports in the US.

Read more »

A senior pharmacist talks to a customer at the counter in a shop
Mergers & Acquisitions

Sigma share price: What's next with the Chemist Warehouse ASX listing?

What's next in this M&A saga?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Bapcor, Chalice Mining, Integral Diagnostics, and Winsome Resources shares are dropping

These shares are having a tough session on Monday. But why?

Read more »

Three kids with attitude

3 lower-risk ASX shares I think are perfect for beginners

Here are three ASX shares that are ideal for risk averse investors, in my opinion.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Capitol Health, Capricorn Metals, Credit Clear, and Telix shares are storming higher

These shares are starting the week with a bang. But why?

Read more »