The S&P/ASX 200 Index (ASX: XJO) had a tough month in March due to war breaking out in the Middle East, rising inflation, and higher interest rates. This led to the benchmark index sinking a sizeable 7.8% for the month.
Not all shares fell with the market. Here are four ASX 200 shares that delivered big returns for investors during March:
Image source: Getty Images
Viva Energy Group Ltd (ASX: VEA)
The Viva Energy share price was the best performer on the ASX 200 in March with a 40.4% gain. Investors appear to believe that this fuel retailer will be benefitting from surging fuel prices caused by the war in the Middle East. In addition, last month the Federal Government increased the Geelong Refinery FSSP Margin Marker cap and collar by 3.6 Australian cents per litre (Acpl), which is the equivalent to A$5.70 per barrel. Viva Energy's CEO and managing director, Scott Wyatt, said: "Today's announcement underscores the important role that domestic refining plays in strengthening Australian energy security. Viva Energy is proud to own and operate one of the two refineries that together produce approximately 20% of the country's fuel requirements."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price wasn't far behind with a 40% gain last month. The radiopharmaceuticals company's shares rebounded strongly after the release of a couple of promising announcements. One was that its ProstACT Global Phase 3 study achieved its primary objectives, demonstrating an acceptable safety and tolerability profile with no new safety signals observed. The other revealed that Telix has resubmitted a New Drug Application (NDA) to the United States Food and Drug Administration for its Pixclara product. It is an investigational PET imaging agent for the characterization of recurrent or progressive glioma (brain cancer) from treatment related changes in both adult and paediatric patients.
Yancoal Australia Ltd (ASX: YAL)
The Yancoal Australia share price was on form and raced 33.9% higher in March. This follows a strong month for coal prices driven by strong demand to counter surging LNG prices and supply uncertainty. For the same reason, the New Hope Corporation Ltd (ASX: NHC) share price was up 23.6% in March and the Whitehaven Coal Ltd (ASX: WHC) share price was up 16.5% during the period.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price had a strong month and rose 16%. This was driven by the war in the Middle East, which has driven LNG and oil prices materially higher. In fact, both WTI and Brent crude oil prices ended the month above US$100 a barrel, representing a gain of 50% for the month. Investors appear optimistic that Woodside will be generating significant cash flow, which could support capital returns.
