3 ASX shares of the week

Premier Investments Limited (ASX: PMV) is one of my ASX shares of the week

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With another week done and dusted, it was an interesting week to say the least. The spectre of the 1974 oil shocks reared its ugly head on Monday, sending oil up in its biggest one-day jump in history and spooking global markets. This was not to last though, and the S&P/ASX200 (ASX: XJO) ended up finishing the week 0.91% higher at 6,730 points.

Here are 3 ASX shares that caught my eye this week

Premier Investments Limited (ASX: PMV)

Premier investments shares were relatively flat all week, until the company released in 2019 financial year results yesterday morning. In a move that stunned the market, Premier reported a 10.8% increase in underlying profit before tax to $177.6 million, sending PMV shares up an astonishing 15.34% yesterday to close the week at $18.12.

Rural Funds Group (ASX: RFF)

Making a scene for all the wrong reasons, it was another rough week for Rural Funds and its shareholders. A fresh short-seller attack, this time by the oddly titled Hong-Kong-based firm Bucephalus (apparently named after Alexander the Great's horse), accused Rural Funds of being a 'Ponzi Scheme' on Thursday and gave RFF shares a maximum value of $1.20. This comes a month after short-seller Bonitas accused Rural Funds of being 'essentially worthless', causing RFF shares to tank 40% in one day.

Rural Funds Group shares started the week at $2.04, but closed yesterday at $1.62 as a result of the fresh attacks – a drop of 20% for the week. Rural Funds has again denied all allegations.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Soul Patts makes the cut this week after delivering its 19th year of consecutive dividend increases on Thursday during its 2019 earnings report. Only one other ASX company can boast such a terrific payout track record – Ramsay Health Care Limited (ASX: RHC). Soul Patts has once again proven to be one of the best income stocks to own and finished the week almost 1% higher at $22.08 as a result

Foolish Takeaway

With some good news from Soul Patts and Premier matched with (more) bad news out of Rural Funds, it's been an interesting week on the ASX. Who knows what next week will hold!

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited, RURALFUNDS STAPLED, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

This ASX All Ords stock is undervalued and could rocket 60%+

Bell Potter is tipping this share to deliver big returns for investors.

Read more »

High fashion look. glamor closeup portrait of beautiful sexy stylish Caucasian young woman model with bright makeup, with red lips, with perfect clean skin.
Broker Notes

2 ASX All Ords shares top brokers rate as a 'buy'

See what the latest is for these two names.

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Broker Notes

This ASX 200 share is one of 'the highest quality businesses on the ASX'

Let's see which stock analysts at Wilsons rate incredibly highly right now.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

Another good session is expected for Aussie investors today. Here's what you need to know.

Read more »

A businessman hugs his computer and smiles.
Opinions

If I were 40, I'd buy these ASX shares in 2024 for the long term

These investments look very compelling to me as buy-and-hold investments.

Read more »

Young woman in yellow striped top with laptop raises arm in victory
Broker Notes

Buy this ASX 300 stock for 20% upside and a 6% yield

Analysts at Bell Potter think investors should be buying this stock before it's too late.

Read more »

IPO written in dark blue with a yellow background.
Financial Shares

ASX fintech stock backed by Mastercard slumps 9% on debut

Meet the ASX's newest fintech company.

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors kicked off the trading week in style today.

Read more »