With only a few hours left before Friday's closing bell, the S&P/ASX 200 Index (ASX: XJO) is down 1.3% for the week, but don't blame these three surging ASX 200 stocks.
One of this week's top performers is a global wine company, one is a technology-linked health imaging company, and the third is heavily involved in the AI revolution.
So, which ASX shares are leaping higher in this week's slumping market?
Read on!
Image source: Getty Images
Treasury Wine Estates Ltd (ASX: TWE)
Our first outperformer is Treasury Wine.
Shares in the global wine company closed last week trading for $4.24. At the time of writing, Treasury Wine shares are changing hands for $4.63 apiece. That sees this ASX 200 stock up 9.2% for the week.
Treasury Wine shares closed up an impressive 13.1% on Thursday after the company announced details of its five-year transformation plan at its 2026 Investor Day.
Investors reacted positively, with the company aiming for $100 million in annualised cost reductions.
Management provided full-year FY 2026 earnings before interest, tax, and significant items (EBITS) guidance in the range of $480 million to $490 million.
Treasury Wine also said it expects to return to revenue growth from FY 2028.
Megaport Ltd (ASX: MP1)
Megaport shares are also enjoying a strong run, with today marking only the second day this week that the ASX 200 stock has traded.
Shares in the AI-focused network services company closed on Monday trading for $16.61.
Megaport shares entered a trading halt on Tuesday while the company conducted a $518 million capital raising via a fully underwritten entitlement offer.
This morning, the stock recommenced trading on the ASX after announcing that it had successfully completed the institutional part of that capital raising.
Management expects the upcoming retail component of the capital raise to bring in another $309 million. The company plans to use the funds, in part, to pursue its global growth ambitions following a series of new AI infrastructure contracts.
"This exceptional outcome reflects the strong support of our institutional shareholders and their confidence in our strategy," Megaport CEO Michael Reid said.
Following this news, the Megaport share price is up 8.4% today at $18.01. That sees shares up 16% since last Friday's close.
Which brings us to…
Pro Medicus Ltd (ASX: PME)
Pro Medicus shares are lifting off this week following two new contract announcements.
Shares in the health imaging company closed last Friday trading for $132.26. At the time of writing, shares are swapping hands for $163.82.
That puts this ASX 200 stock up 23.9% in this week's sinking market.
Pro Medicus shares closed up 9.2% on Monday after the company reported inking a new five-year contract renewal with Allegheny Health Network, valued at $28 million.
"AHN has now renewed for a third contract term, reflecting the strength of our long-standing partnership and the value our platform continues to deliver across their organisation," Pro Medicus CEO Sam Hupert said.
