These were the best performing ASX 200 shares last week

These ASX 200 shares had very strong weeks…

| More on:
Young woman in yellow striped top with laptop raises arm in victory

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 on form again last week and rose to a record high. The benchmark index pushed 46.3 points or 0.6% higher to 7,394.4 points.

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

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price was the best performer on the ASX 200 last week with a 10.2% gain. This was despite there being no news out of the medical device company. However, with its shares sinking a week earlier following a trading update, some investors may have felt they had been oversold. In addition, the healthcare sector was on form last week, which will have given its shares an extra boost.

Iluka Resources Limited (ASX: ILU)

The Iluka share price wasn't far behind with a 10% gain. Investors were buying the mineral sands company's shares following the release of its second quarter update. Iluka revealed revenue of $391 million, which was up 75% on the prior corresponding period. A key driver of this was its zircon production, which increased 71% to 71,800 tonnes. Management also noted that zircon sales have strengthened thanks to a return to pre-pandemic production levels among Chinese tile manufacturers.

Nuix Ltd (ASX: NXL)

The Nuix share price was on form and jumped 9.8% over the five days. This was despite there being no news out of the embattled investigative analytics software provider. Though, with its shares down materially this year, bargain hunters may have been swooping in. Especially given the recent exit of its CEO and CFO. This has helped build investor confidence after countless guidance downgrades shattered it. Last month Morgan Stanley put an overweight rating and $6.40 price target on its shares. This compares to the current Nuix share price of $2.81.

CIMIC Group Ltd (ASX: CIM)

The CIMIC share price was a strong performer last week and recorded a gain of 9.4%. This was driven by the release of the engineering company's half year results. For the six months ended 30 June, group revenue increased 10.6% to $7.1 billion. This was driven by strong performances by its Australian Construction and Services business. On the bottom line, the company reported a net profit after tax of $208 million. This was up slightly from $205.3 million in the prior corresponding period.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended POLYNOVO FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

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

Read more »

A young boy points and smiles as he eats fried chicken.
Share Gainers

3 ASX All Ords shares smashing the benchmark this week

Investors are sending these three ASX All Ords shares rocketing 18% to more than 29% this week. But why?

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, BHP, Boss Energy, and Orthocell shares are racing higher

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

Read more »

Man with backpack spreading his arms out and soaking in the sun.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing session for investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a nervous hump day session for ASX investors today.

Read more »

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

Why Collins Foods, DroneShield, Star Entertainment, and Virgin Australia shares are charging higher

These shares are having a good time on hump day. But why?

Read more »

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 »