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ASX 200: top 5 weekly share price gains

ASX 200: top 5 weekly share price gains

McMillan Shakespeare and JB Hi-Fi were among the best-performing ASX 200 stocks last week, as the benchmark stock index rose 0.8%.

A company specialising in salary packaging and a consumer electronics retailer were among those with the biggest gains in the S&P/ASX 200 Index, which was up 0.8% last week.

Here are the winners and losers in the ASX 200 for the week ended Friday, May 6.

Top 5 share price gains

McMillan Shakespeare

  • Weekly rise: 14% to $14.00
  • Share price movement past 12 months: Up 16.3%

Shares in McMillan Shakespeare (ASX: MMS), which provides salary packaging, novated leasing and fleet management services, jumped after the Federal Opposition promised it will not remove tax breaks related to car leases in salary packaging.

In his letter to the National Leasing & Salary Packaging Association last Wednesday, Opposition leader Bill Shorten said “a Shorten Labor government will not implement any changes to the Statutory Formula Method relating to employer provided motor vehicles”.

“Labor will retain the current arrangements in relation to all measures regarding salary packaging and related Fringe Benefit Tax measures. There is no difference between our policy and that of the current Turnbull government,” he said.

Fringe benefits tax (FBT) is a tax paid by employers on certain benefits they provide to their employees, partly or wholly in place of salary or wages. The tax is separate to income tax.

Shorten’s announcement reversed Labor’s position in the 2013 federal election, when it said it would hike fringe benefits tax for salary-packaged cars.

Australia will hold national elections on July 2.

Super Retail Group

  • Weekly rise: 12.2% to $9.49
  • Share price movement past 12 months: Down 4%

Super Retail Group (ASX: SUL) said in its latest trading and strategy update that it achieved higher sales across all three divisions so far this financial year.

Auto sales grew 6% for the 44 weeks to April 30 compared to the same period last year, while Leisure and Sports sales increased 5.5% and 9%, respectively, the group said.

It added that it would incur cash costs of $28.5m and non-cash costs of $14.5m this financial year to restructure some of its businesses.

Southern Cross Media Group

  • Weekly rise: 10.6% to $1.195
  • Share price movement past 12 months: Up 11.2%

Southern Cross Austereo (SCA), part of the Southern Cross Media Group (ASX: SXL), signed a five-year agreement with Nine Entertainment (ASX: NEC) that will allow it to broadcast Nine’s metropolitan free-to-air television content into regional Queensland, Southern NSW and regional Victoria beginning July 1.

SCA channels will be able to use Nine’s branding and broadcast the latter’s Australian and international content, including National Rugby League and Cricket programs, Southern Cross said in a statement after the market closed on April 29.

SCA will pay Nine an affiliation fee of 50% of its television revenue.

JB Hi-Fi

  • Weekly rise: 10.4% to $24.25
  • Share price movement past 12 months: Up 27.8%

JB Hi-Fi (ASX: JBH) reported an 8.6% total sales growth in the third quarter ended March 31, supported by the timing of Easter this year and school holidays.

Nine-month sales increased 8%, the consumer electronics retailer told a conference last Wednesday.

The company reiterated its full-year sales guidance of $3.9bn and net profit after tax estimate of $143m to $147m.

  • Weekly rise: 8.2% to $12.73
  • Share price movement past 12 months: Up 34.6% (ASX: CAR) has extended its collaboration with iCar Asia, which owns a network of automotive portals in Southeast Asia, for another three years.

The companies will continue to share knowledge, technology and intellectual properties, according to iCar Asia’s statement on May 3.

The agreement will allow to increase its shareholding in its partner, subject to approval from the Australian Securities Exchange.

Market movers this week

China’s weaker-than-expected trade data announced on Sunday, combined with economic data scheduled to be released this week, could impact the Australian market, according to CommSec.

The world’s second-largest economy reported yesterday that exports fell 1.8% from a year ago in April, while imports were down 10.9%. Economists had projected a 0.1% drop in exports and 5% decline in imports.

The country will release its April inflation data tomorrow, as well as retail sales and industrial production and investment figures this Saturday.

Meanwhile, latest financial results from the banking sector could continue to move the market, CommSec said.

Commonwealth Bank of Australia (ASX: CBA) released its earnings this morning, announcing a 4.5% increase in quarterly cash profit.

Australia & New Zealand Banking Group (ANZ) last week reported a 24% slump in half-year cash profit, while Westpac said its six-month cash earnings were up 3%. Cash profit at National Australia Bank (NAB) rose 6.5% from a year earlier.

While Macquarie Group posted record annual net profit, it warned investors that 2017 performance might be broadly in line with this year’s figures.

CommSec pointed out that trading and spending are expected to be subdued in the lead-up to the Australian general election in July.

Top 5 share price falls

WorleyParsons (ASX: WOR), which provides engineering services to the energy and mining sectors, slumped 17.9% over five days to $5.74, extending its one-year share price loss to 43.9%.

Oil and gas producer Santos (ASX: STO) tumbled 14.4% to $4.11, taking its 12-month decline to 54.8%. Meanwhile, Whitehaven Coal (ASX: WHC) plummeted 14.3% to 66 cents, and was down 57.7% over the past year.

All three stocks sit in the S&P/ASX 200 Energy Index, which dropped 5.7% last week as Brent crude oil fell by the same percentage over five days, according to Bloomberg data.

Western Areas (ASX: WSA) shed 13.2% to $2.17, after the nickel sulphide miner sold new shares to retail investors at an issue price of $2 per share, significantly lower than its prevailing market price. The stock was down 42.6% over 12 months.

Gold miner Independence Group (ASX: IGO) fell 11.8% to $2.70, after it acquired a 9% stake in ABM Resources (ASX: ABU) to become the latter’s third-largest shareholder. Shares in Independence Group were down 53.8% over a year.