Well, it was an interesting week on the ASX, with the S&P/ASX 200 (ASX: XJO) index finishing 0.65% higher. Here are three ASX shares that made it on my 'shares of the week' list.
AMP Limited (ASX: AMP)
After finding a new all-time low of $1.60 last week, AMP has made the list for all the wrong reasons. The AMP share price again flirted with the all-time low, hitting $1.62 on Tuesday, but AMP shares finished up nearly 10% from this low by yesterday and closed the week at $1.75. No major news came out about the company, but documents lodged with the ASX show that there is some serious repositioning of AMP shares being done inside AMP (possibly ahead of its AMP Life sale), so this may have had some pricing impacts.
Coles Group Ltd (ASX: COL)
Coles makes the cut for the opposite reasons. The Coles share price hit a new post-float all-time high of $14.75 on Friday. The market is evidently still giddy about Coles' maiden dividend announced last week and investors can't get enough. The stock closed at $14.68 yesterday, which puts COL shares on a price-to-earnings ratio of 23x FY20's expected earnings. Considering arch-rival Woolworths Group Ltd (ASX: WOW) currently trades on a ratio of 27x earnings, there may still be upside in the COL share price yet.
WiseTech Global Ltd (ASX: WTC)
Another that made a new all-time high this week has been the WiseTech share price, which hit $38.80 on Friday for the first time. By the close of trading, WTC shares had come back to earth somewhat at $38.09, but it has been an incredible month for this company's lucky investors who are sitting on a four-week gain of 40%. Although I maintain WiseTech shares are looking pricey, there's no doubt of the calibre of this company and this week again highlights the bright future ahead of it.
Foolish Takeaway
It's been a week of all-time highs on the ASX and (bar any weekend trade-war escalations) it might just continue next week.
