These were the best performers on the ASX 200 last week

Crown Resorts Ltd (ASX:CWN) and GrainCorp Ltd (ASX:GNC) shares were among the best performers on the ASX 200 last week…

A young woman smiling and looking happy, indicating a positive share price movement on the ASX market

Image source: Getty Images

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

The S&P/ASX 200 Index (ASX: XJO) was back on form last week and stormed notably higher. The benchmark index ended the period 1.7% higher than where it started it at 6,824 points.

While a good number of shares were on form last week, some climbed more than most. Here's why these were the best performers on the ASX 200 last week:

Crown Resorts Ltd (ASX: CWN)

The Crown share price was the best performer on the ASX 200 last week with a 19.6% gain. Investors were buying the casino and resorts operator's shares after it received a takeover approach from Blackstone. The US investment company has made an unsolicited, non-binding, and indicative proposal to acquire all of the shares in Crown at $11.85 cash per share. This was a 20.1% premium to its last close price. The Crown board is still assessing the proposal.

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price was on form last week and stormed 14.2% higher. The catalyst for this was the grain exporter announcing new operating initiatives. These include expanding bulk materials for export, increasing utilisation at the Numurkah and West Footscray processing facilities, and a shift in the foods product mix to higher-value products. Management expects the initiatives to boost its operating earnings by $25 million by 2023-24.

Adbri Ltd (ASX: ABC)

The Adbri share price wasn't far behind with an 11% gain despite there being no news out of the building materials company. This gain may have been driven by comments out of Brickworks Limited (ASX: BKW) when it released its half year results. The building products company revealed that demand was picking up in Australia. This could mean Adbri is experiencing similarly positive trading conditions.

Nufarm Ltd (ASX: NUF)

The Nufarm share price was a positive performer and rose 10.3% last week. This appears to have been driven partly by a broker note out of UBS. Its analysts believe the recent rainfall on the east coast will lead to positive agricultural conditions and support demand for Nufarm's products. Another positive was that the floods in New South Wales were not in grain production areas. UBS has put a buy rating and $5.70 price target on its shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors enjoyed a strong recovery day this Tuesday.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

CBA shares hit another all-time high. Can they surpass $200 in 2025?

CBA shares have a tailwind pushing up their price that has nothing directly to do with the bank's business performance.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Alliance Aviation, Cogstate, Collins Foods, and Findi shares are roaring higher today

These shares are having a good session on Tuesday. Let's find out why.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the week this Monday.

Read more »

Crude oil barrels rocketing.
ETFs

Why did the BetaShares Crude Oil ETF just spike 4%?

This ETF is attracting buyers in today's seller's market.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why BWP, Metcash, Resolute Mining, and SHAPE shares are pushing higher today

These shares are starting the week on a positive note. But why?

Read more »

Workers at the port joyfully jump high in the air with shipping containers in the background.
Industrials Shares

$10,000 invested in Austal shares a year ago is now worth…

Austal is an Australian shipbuilding company founded in 1988 that builds ships for the US Navy.

Read more »

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »