After a poor start to the week following pessimistic Chinese predictions, the S&P/ASX 200 (^AXJO) (XJO.AX) recovered to close on Friday with a 1% gain at 5,123.40 – a rather flat week compared to those we’ve experienced recently. Whilst record heights were realised on Wall Street during the week, investors largely chose to lock in profits after the recent rally we’ve experienced. Here are three companies that did perform well last week.
Although not part of the S&P/ASX 200, Jumbo Interactive Limited (JIN.AX) was one of the companies that disappointed investors following the string of earnings announcements in February, after falling slightly short of its expected revenues. For years, Jumbo has shown impressive growth in the online gambling industry and its share value soared as a result. Its half year earnings report however, caused Jumbo to plunge from its $3.28 all-time high, to begin last week trading at $2.09. Those who took a gamble on Jumbo during its fall in share value were laughing, after the company announced on Tuesday its expansion into Germany, seeing the stock recover 18% to close at $2.47 on Friday.
Sirtex Medical (SRX.AX) continued with another strong week, after recently falling from an all-time high of $13.40 per share. Sirtex’s half year results were very impressive, and a standout in the biotechnology and pharmaceuticals industry, however, with a P/E ratio of just over 34, it presents as a very expensive company. Sirtex rose 7.44% for the week to finish at $11.55.
Investors this week banked on Mortgage Choice (MOC.AX), pushing share prices up 7% to close the week at $2.14. The company has given investors a strong and steady growth of 66% since July, as more and more borrowers seek the services of Mortgage Choice to help them obtain and manage a home loan.
After weeks of strong market growth, it is to be expected that a down or flat week occur. With the Dow Jones Industrial Average (^DJI) hitting record highs on four consecutive days through to Thursday, investor confidence is high, and the market should have plenty of strong gains still to be realised.
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The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. Motley Fool writer/analyst Ryan Newman does not own shares in any of the companies mentioned in this article.