With only a few hours of trade left in the week, the S&P/ASX 200 Index (ASX: XJO) is down 1.0% since last Friday's close, despite the best efforts from these three rocketing ASX 200 stocks.
Which stocks have managed to buck the wider selling action to deliver outsized shareholder returns this week?
Read on!
ASX 200 stocks shrugging off the market sell-down
The first outperforming ASX 200 stock on my list is APA Group (ASX: APA).
Shares in the energy infrastructure company closed last Friday trading for $6.61. At the time of writing, shares are changing hands for $7.50 each. This sees the APA share price up 13.5% over the week.
APA shares enjoyed a big boost this week after the company reported its half-year results on Monday.
Highlight included a 7.1% year on year revenue increase to $1.36 billion, while underlying pre-tax profits were up 9.1% to $1. 02 billion. Management also pleased passive income investors with a 2% boost of the interim dividend to 27 cents per share.
Which brings us to our second surging ASX 200 stock of the week, Bapcor Ltd (ASX: BAP).
Shares in the auto parts company closed last week trading for $4.52 and are currently trading for $5.26. That puts the Bapcor share price up 16.4% in this week's broadly sinking market.
Bapcor shares also got a big lift on the heels of the company's half-year results, released on Wednesday.
Revenue was up 0.3% year on year to $987.8 million, though net profit after tax tumbled 15.2% to $45.5 million. But investors overlooked the profit loss and appeared to focus on a range of cost-saving measures expected to cut costs by $20 million to $30 million in FY 2025.
Leading the pack
The best-performing ASX 200 stock on my list for the week is Eagers Automotive Ltd (ASX: APE).
Shares in the automotive retail group closed last Friday trading for $12.74. In afternoon trade today, shares are swapping hands for $15.36 apiece. This sees the Eagers share price up an impressive 20.6% over the week.
Eagers also owes its strong weekly performance to the release of its full-year results, reported on Thursday.
Highlights from 2024 included record full-year revenue of $11.2 billion, up 13.6% from 2023. Management also declared a fully franked final dividend of 50 cents per share, matching the record-high final dividend paid in 2023.
Commenting on what's ahead for the ASX 200 stock, Eagers CEO Keith Thornton said, "We see no shortage of growth possibilities. The industry is consolidating and continuing to evolve at an unprecedented pace."
The post 3 ASX 200 stocks leading the charge higher in this week's sinking market appeared first on The Motley Fool Australia.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Apa Group and Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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