These were the best performing ASX 200 shares last week

These ASX 200 shares had a strong week…

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

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. The benchmark index rose 34.6 points or 0.5% over the five days to end the week at 7,522.9 points.

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

Alumina Limited (ASX: AWC)

The Alumina share price was the strongest performer on the ASX 200 last week with a gain of 19.1%. This appears to have been driven by news that New Day Aluminum curtailed alumina production at its facility in the United States due to Hurricane Ida. Any supply disruptions are likely to support prices, which had already been improving in recent weeks prior to the hurricane.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price wasn't far behind with a gain of 18.3% over the five days. Investors were buying the coal miner's shares for a couple of reasons. One was an increase in coal prices last week, the other was a bullish broker note out of Ord Minnett. In respect to the latter, on Thursday the broker retained its buy rating and lifted its price target to $4.00. This is materially higher than the current Whitehaven Coal share price of $2.84.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price was among the best performers on the ASX 200 for a second week in a row with a gain of 17.3%. Investors have been buying the biopharmaceutical company's shares since a leading broker responded positively to its full year results. In FY 2021, Clinuvel reported a 43% increase in revenue to $48.5 million and a 63.5% jump in net profit after tax to $24.7 million. This led to Jefferies upgrading the company's shares to a buy rating with a $36.80 price target. The Clinuvel share price has now breached this and hit a record high of $40.96 on Friday.

South32 Ltd (ASX: S32)

The South32 share price was on form and stormed 13.1% higher last week. Investors were fighting to get hold of the mining giant's shares last week after aluminium prices hit their highest levels in 10 years. This was driven by concerns over shortages in China, which is the largest producer of aluminium in the world. Aluminium prices hit a high of US$2,727 a tonne on the London Metal Exchange on Tuesday according to the Financial Times.

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. has no position in any of the stocks mentioned. 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

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Industrials Shares

Up 39% in a year, is there more growth to come for this ASX 200 share?

IML Equity Analyst Josh Freiman shares his views on a major ASX 200 industrial stock.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Catapult, Flight Centre, Nufarm, and Xero shares are storming higher today

These shares are having a strong session on Thursday. But why? Let's find out.

Read more »

drug capsule opening up to reveal dollar signs signifying rising asx share price
Healthcare Shares

3 ASX healthcare shares going gangbusters on Thursday

Investors are sending these ASX healthcare stocks soaring today. But why?

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 made it three-for-three losses in a row this Wednesday.

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Brickworks, James Hardie, Megaport, and OFX shares are charging higher today

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

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured another day of selling this Tuesday.

Read more »

Man pointing at a blue rising share price graph.
Technology Shares

Guess which ASX 300 tech stock is already up 64% in November!

The ASX 300 tech stock is surging higher this month. But why?

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ANZ, Block, Neuren, and Pilbara Minerals shares are pushing higher today

These shares are having a solid session on Tuesday. But why? Let's find out.

Read more »