As we near the end of the trading week, the S&P/ASX 200 Index (ASX: XJO) is up 1.3% since last Friday's close, with a handful of ASX 200 shares racing ahead of those gains.
This week's outperformers cover the building sector, mining, and payments. And with just a few hours of trade left today, they've posted one-week gains of 12% to 18%.
So, which ASX 200 shares are smashing the benchmark this week?
Read on!
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ASX 200 shares setting the bar high this week
The first ASX 200 share delivering outsized returns this week is Zip Co Ltd (ASX: ZIP).
Shares in the buy now, pay later (BNPL) company closed last Friday, trading for $1.99. At the time of writing, shares are changing hands for $2.22 apiece. That puts the Zip share price up 11.6% for the week.
There's no fresh price-sensitive news from the company this week. But Zip shares have been in a strong uptrend (up 86%) since hitting one-year lows on 7 April. Investors may be buying shares this week amid expectations of more US Fed and RBA interest rate cuts this year. BNPL companies tend to perform better in lower-rate environments.
Moving on to the second ASX 200 share leaping higher this week, we have James Hardie Industries PLC (ASX: JHX).
Shares in the building materials company closed last week at $23.30 and are currently trading for $26.62 each. This sees the James Hardie share price up 14.3% over the week.
Investors responded favourably to Tuesday's announcement that the company had syndicated new senior secured credit facilities totalling US$3.5 billion, with James Hardie citing "broad support" including 30 participating banks.
"Their participation in these new credit facilities underscores the market's confidence in our value proposition and conviction in our future," said Rachel Wilson, CFO of James Hardie. "With this action, we will be executing on our growth strategy from an attractive and flexible financial position."
Which brings us to the third ASX 200 share that's amply rewarded stockholders this week, Lynas Rare Earths Ltd (ASX: LYC).
Shares in the Aussie rare earths miner closed last Friday at $7.89 and are currently swapping hands for $9.20 apiece. That puts the Lynas share price up 16.6% for the week.
There hasn't been any price-sensitive news out from the miner since its quarterly update in April. But investors look to have been bidding up Lynas shares this week amid the ongoing trade rift between the United States and China, with China upping the ante by limiting its rare earths exports.
The top weekly performer
Rounding off with the top-performing ASX 200 share on my list for the week, we have Brickworks Ltd (ASX: BKW).
Shares in the building products company closed last Friday at $27.51 and are currently trading for $32.40. This puts the Brickworks share price up 17.8% for the week.
All of those gains, and then some, were delivered on Monday. The Brickworks share price closed up a blistering 27.6% on the day after announcing a $14 billion merger with diversified investment house Washington H. Soul Pattinson and Company Ltd (ASX: SOL).
And, in case you're wondering, the Sol Patts share price is up 8.4% this week.
