The S&P/ASX 200 Index (ASX: XJO) is up 1.2% for the week in early afternoon trade on Friday, with the benchmark index getting some outsized assistance from three soaring ASX 200 stocks.
The three high performers of the week we look at below were all leading the charge as of market close yesterday. With several hours of trade left on Friday, the best share price performers for the week may yet change by market close today, with some close contenders still in the race.
But whatever the final tally may be, you won't hear shareholders complaining about these three ASX 200 stocks this week.
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Three high-flying ASX 200 stocks
Coming in at number three on our list is Block Inc (ASX: SQ2), the global buy now, pay later (BNPL) company that owns Afterpay.
Block shares closed last Friday at $128.52. At the time of writing, shares in the ASX 200 stock are changing hands for $142.94 apiece, which puts the Block share price up 11.2% this week.
There was no fresh price-sensitive news from the BNPL company over the week. But Block shares look to be riding the momentum of a strong upward trend since early October as investors eye lower global interest rates and the company's recent growth results.
On 8 November, Block reported a third-quarter gross profit of $2.25 billion, up 19% year on year. Block shares have now soared 51.7% since the 3 October dip.
The second-best ASX 200 stock performer of the week is gold stock Northern Star Resources Ltd (ASX: NST).
Northern Star shares closed last week at $15.85. At the time of writing, those same shares are trading for $17.79 each, up 12.2% for the week.
The last price-sensitive news from the gold miner came on 24 October, when the company released its quarterly results.
The outperformance this week looks to have been spurred by a resurgent gold price. Gold ended last week trading for US$2,563 per ounce and is now trading for US$2,676 per ounce, up 4.4%.
Investor enthusiasm for ASX gold miners more broadly is evidenced by the 8.3% weekly gain posted by the S&P/ASX All Ordinaries Gold Index (ASX: XGD).
And our leader is…
Which brings us to the top ASX 200 stock performer on our list for this week, software company Technology One Ltd (ASX: TNE).
Technology One shares closed last week at $26.92. Shares are currently swapping hands for $30.33, up 12.7% for the week.
Most of those gains were delivered on Tuesday when the company released its FY 2024 results.
Among the highlights spurring investor enthusiasm, Technology One achieved an 18% year on year increase in profit before tax of $152.9 million. That beat guidance of 12% to 16% profit growth.
The ASX 200 stock closed up 10.1% on the day.
