These were the best performing ASX 200 shares last week

These ASX 200 shares were on form last week…

Rising share price chart.

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

A strong finish to the week led to the S&P/ASX 200 Index (ASX: XJO) recording its second successive weekly gain. The benchmark index rose 0.5% to end the period at 7,182.7 points.

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

Codan Limited (ASX: CDA)

The Codan share price was the best performer on the ASX 200 last week with a 16.6% gain. Investors were scrambling to buy this technology company's shares following the release of its guidance for FY 2022. Codan revealed that it expects to match its record first-half profit in the second half, which would mean a record full-year profit of $100 million. This will be a 56% increase year on year.

Pointsbet Holdings Ltd (ASX: PBH)

The PointsBet share price wasn't far behind with a 12.8% gain. This was despite the tech sector sinking last week. All the sports betting company's gain came on Friday despite there being no news out of it. Though, some investors may believe it would be an attractive takeover target amid increased M&A activity in the tech sector.

Allkem Ltd (ASX: AKE)

The Allkem share price was on form and charged 7.4% higher over the five days. A number of lithium shares charged higher last week. This was possibly due to strong pricing from a rival's latest lithium auction. In addition, there is optimism that lithium demand will continue to outstrip supply for some time to come. This could lead to lithium prices remaining higher for longer.

Virgin Money UK (ASX: VUK)

The Virgin Money UK share price was a positive performer and rose 6.7% during the week. This follows an equally strong gain by the UK-based bank's London-listed shares. While there was no news out of Virgin Money UK, a strong from JP Morgan on Wall Street may have boosted investor sentiment.

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.
Share Gainers

Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today

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

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Share Gainers

3 ASX 300 shares going gangbusters on Wednesday

Investors are bidding up these three ASX 300 shares today. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a huge Tuesday for ASX shares, with the index resetting its record high.

Read more »