The ASX 200 utility stocks were leading the way.
sectors in the market climbed 2.56% last week
across the span of five business days.
Utility stocks are typically seen as a ‘
safe haven
‘investment amid market fluctuations.
This industry consists of only 21 enterprises, primarily being providers of electricity, gas, or water.
Utility companies typically exhibit stable profits, making them a safeguard for investments when the economy becomes uncertain.
Nevertheless, the same applies to the ASX 200.
healthcare shares
, and they took a different direction last week.
The healthcare sector had the poorest performance for the week, dropping by 3.15%.
Sector heavyweight
CSL Ltd
(
ASX: CSL
) contributed to the sector’s downturn, as evidenced by the share price dropping 6.67% to $239.31.
CSL delivered a
presentation
At two shareholder information meetings held in Sydney and Brisbane last week.
Overall, the
S&P/ASX 200 Index
(ASX: XJO) virtually moved sideways last week, declining 0.08% to finish at 8,231.2 points.
Nine out of the 11 industry segments finished the week with positive gains.
The market is ongoing with its recovery after the recent downturn.
The drop in the markets caused by US tariffs in early April.
.
The ASX 200 has risen by 3.74% since the announcement of tariffs in the US on April 2nd.
Global markets, such as the ASX 200, have stabilised following the US President’s announcement of a 90-day delay on the measures.
full tariff rollout
.
Currently, a base tariff of 10% is applied to all countries except for China.
Discussions between the United States and numerous trade allies carried on throughout last week.
On Friday,
rumors emerged about an agreement reached between the US and the UK regarding beef trade
.
In a post on
Truth Social
, the President of the United States stated:
The agreement I secured today with the United Kingdom is fantastic news for our FARMERS and RANCHERS! It’s equally beneficial for the United Kingdom. Everyone comes out ahead, which is how it ought to be!
Let’s examine more closely the performance of the biggest ASX 200 utility stocks from last week.
Utility stocks were at the forefront of gains among S&P/ASX 200 sectors last week.
Let’s review the performance of the top six companies in the utilities industry.
Mercury NZ Ltd
(
ASX: MCY
) shares shot 8.45% higher last week despite no news from the New Zealand electricity provider.
The closing price for Mercury shares at the end of the week was $5.65.
APA Group
(
ASX: APA
) shares climbed 4.62% over the five trading days, closing at $8.61.
The APA was showcased at the Macquarie Conference held last Tuesday. You can review the company’s details here.
presentation here
.
Meridian Energy Ltd
(
ASX: MEZ
) shares climbed 2.12% to $5.30 each.
AGL Energy Limited
(
ASX: AGL
) shares rose 2.03% to $11.05.
Genesis Energy Ltd
(
ASX: GNE
) shares increased by 1.94% to reach $2.10 each.
Origin Energy Ltd
(
ASX: ORG
) shares increased by 1.57% to reach $11.03.
ASX 200 market segment overview
Here’s how the 11 industry sectors performed last week, based on CommSec figures.
Over the five trading days:
The post
ASX 200 ‘safe-haven’ shares delivered divergent performances last week
appeared first on
The Motley Fool Australia
.
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- 3 Top ASX Shares I Would Purchase for $3,000 at This Moment
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Motley Fool
contributor
Bronwyn Allen
holds shares in CSL. Additionally, The Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns stocks in and recommends CSL. Similarly, The Motley Fool Australia also holds stakes in and endorses Apa Group. Furthermore, The Motley Fool explicitly acknowledges their recommendation of CSL as well. They maintain a
disclosure policy
. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
