With just half a day of trade left in the week, the S&P/ASX 200 Index (ASX: XJO) is down 0.8% since last Friday's close, despite the best lifting efforts of these three surging ASX 200 stocks.
Which stocks are bucking the selling trend and storming higher?
I'm glad you asked!
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ASX 200 stocks charging higher
The first two companies leaping ahead in this week's slumping market are Greatland Resources Ltd (ASX: GGP) and Emerald Resources NL (ASX: EMR), both ASX 200 gold stocks.
Greatland Resources shares closed last Friday, trading for $7.13, and are currently trading for $7.56. That sees the Greatland Resources share price up 6%.
Emerald Resources also is enjoying a strong run this week. Shares closed last week at $4.74 and are currently changing hands for $5.15 each, up 8.7% for the week.
There was no fresh price-sensitive news out from either of the ASX 200 stocks this week, with both having reported their third-quarter updates last week.
But it appears both gold miners are rebounding from the broader sell-off in gold stocks that accompanied the 10% decline in the gold price from its all-time highs last week. Currently at US$3,999 per ounce, the gold price has been fairly stable this week. And a number of analysts are forecasting that the yellow metal's bull run has a way to run yet.
According to Saxo Bank's head of commodity strategy, Ole Hansen:
Gold's pause still looks like a breather, not a breakdown. Seasonal softness, temporary Chinese policy noise, and a firmer [US] dollar explain the short-term retreat, but none change the longer-term narrative.
The same forces that fuelled this year's rally … are likely to reassert themselves, making the next meaningful leg higher a 2026 story.
Leading the pack
Which brings us to the best performing ASX 200 stock on my list for the week, Light & Wonder Inc (ASX: LNW).
Shares in the multinational gaming company closed last week trading for $109.47. In afternoon trade today, shares are changing hands for $125.35 apiece.
This sees the Light & Wonder share price up 14.5% in this week's falling market.
There was plenty going on with the company this week, with Light & Wonder reporting its September quarterly results on Thursday and announcing an extension of its US$1.5 billion (AU$2.3 billion) share buyback to also encompass its CHESS Depositary Interests (CDIs) on the ASX.
The ASX 200 stock announced the expansion of its share repurchase program from US$1 billion to US$1.5 billion on 31 July.
Highlights from the September quarterly results included a 70% year-on-year increase in net income to US$114 million.
And on the bottom line, Light & Wonder's adjusted net profit after tax and amortisation (NPATA) increased by 25% from Q3 2024 to US$153 million.
