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ASX 200: top 5 weekly share price gains

ASX 200: top 5 weekly share price gains

Gambling giant Crown Resorts and energy investor DUET Group led gains among companies in the ASX 200 last week, while the benchmark stock gauge declined 2.8%.

Crown Resorts, CSR and DUET Group had some of the steepest increases in the S&P/ASX 200 Index last week, resisting a 2.8% fall in the benchmark stock gauge.

Here are the winners and losers in the ASX 200 for the week ended Friday, 17 June.

Top 5 share price gains

Crown Resorts

Weekly rise: 10.7% to $12.90

Share price movement past 12 months: Up 0.9%

Crown Resorts (ASX: CWN) will split its Australian business from its international operations as the company argued investors didn’t fully value its Australian assets.

The gambling group said last Wednesday it plans to separately list its international business and potentially undertake an initial public offering (IPO) of a property trust that will own the bulk of its Australian hotels.

CSR

Weekly rise: 9.5% to $3.68

Share price movement past 12 months: Down 5.6%

Building materials maker CSR (ASX: CSR) hasn’t made any price-sensitive announcement to the Australian Securities Exchange (ASX) since May 11, when it reported a 13% increase in full-year net profit.

The stock climbed after a large investment house published a research note on the company.

SAI Global

Weekly rise: 5.7% to $3.54

Share price movement past 12 months: Down 16.7%

SAI Global (ASX: SAI), a provider of risk management and compliance services, didn’t file any material ASX announcement last week.

Its shares increased after two investment houses released research reports on the company.

Saracen Mineral

Weekly rise: 5.5% to $1.45

Share price movement past 12 months: Up 237%

Shares in Saracen Mineral (ASX: SAR) rose despite the gold miner not submitting any price-sensitive ASX statements this month.

The Perth-based company made a presentation to investors in the UK last week, where it reiterated that its annual gold output would double to more than 300,000 ounces.

The market estimated that Saracen’s free cash flow would grow to $100m in the 2017 financial year from $16m in FY15, the company stated.

DUET Group

Weekly rise: 4.2% to $2.46

Share price movement past 12 months: Down 0.8%

DUET Group (ASX: DUE), which invests in energy utility assets, said it will pay a distribution of 9 cents per stapled security for the six months ending 30 June.

Investors must own the securities before the ex-date of 29 June to be eligible for the distribution, which will be paid on August 18.

Meanwhile, DUET’s subsidiary Energy Developments acquired a wind farm from Origin Energy (ASX: ORG) for $72m, adding capacity to the group’s clean and renewable energy portfolio.

Market movers this week

On the radar this week is the UK “Brexit” referendum on Thursday, which will impact financial markets around the world, according to CommSec.

“Polling in the UK referendum on whether to remain in the EU [European Union] remains close. However, over the weekend, polls have indicated that the ‘stay’ campaign has gained traction," CommSec said.

“Continued momentum for the ‘stay’ vote will be supportive for global markets.” 

In the US, the Federal Reserve chief Janet Yellen will deliver the semi-annual Monetary Policy Report to the Congress on Tuesday that will provide updates on the state of the US economy and an overview of the global economic condition.

Key economic data to be released this Thursday includes manufacturing figures in the US, Europe and Japan, which will provide important insight into economic activities across these countries, CommSec said.

Top 5 share price falls

Regenerative medicine company Mesoblast (ASX: MSB), which resumed trading on June 14 after a two-week halt, plunged 44.8% over four days to $1.06.

The company said last Tuesday that multinational drugs giant Teva Pharmaceutical Industries pulled out of their partnership on heart failure research.

That resulted in Mesoblast having to switch to an equity financing facility, or the sale of shares, to raise capital to meet the remaining funding needs.

Beach Energy (ASX: BPT) sank 15.4% to 60.5 cents, while Programmed Maintenance Services (ASX: PRG) tumbled 14.2% to $1.565. Neither company filed any significant announcement to the ASX last week.

Travel insurance provider Cover-More Group (ASX: CVO) slipped 14.2% to $1.27. That was despite the company assuring investors that Munich Re Group’s plan to divest Great Lakes Australia will have limited impact on Cover-More’s business.

Cover-More’s travel insurance is underwritten by the German reinsurance company through GLA, according to its website.

Gold miner St Barbara (ASX: SBM) shed 11.1% to $2.87. While the company didn’t make any material ASX statement last week, Bloomberg data showed that a block of about 34m of its shares changed hands at $2.87 late last Friday.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Past performance is not an indication of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and a Participant of the ASX Group and Chi-X Australia.