The ASX 200 finished 1.96% higher for the week, with investors looking past Trump’s latest tariff hike as markets continue to rely on company fundamentals amid a strong Australian reporting season.
Another positive week for the ASX 200 marked an impressive 3.7% increase for February. This makes it a third consecutive monthly gain and biggest rise since May last year, as consistent earnings from heavyweight sectors such as financials and technology underpinned the rally.
ASX Movers by the Numbers:
The week’s best performers on the ASX 200 include:
PLS Group Limited (ASX:PLS) +24.16%
Iluka Resources Limited (ASX:ILU) +22.73%
Lynas Rare Earth Limited (ASX:LYC) +21.05%
In contrast, the worst performers on the ASX 200:
Austal Limited (ASX:ASB) -19.34%
Perenti Limited (ASX:PRN) -16.67%
Worley Limited (ASX:WOR) -15.31%
PLS Group Limited, a Western Australian-based lithium producer, led the ASX 200 this week, rallying 24.16% after delivering strong half-year results alongside a rebound in lithium prices. A company with strong fundamentals and balance sheet flexibility has attracted strong buyer interest as the lithium market recovers.
On the positive side, Rare Earth stocks also rallied with Iluka Resources and Lynas Rare Earths rounding out the top 3 best performers.
Leading the worst performers for the week was Austal, which only a week earlier topped the ASX 200 after securing a $4bn contract with the Australian Government. Despite the long-term outlook, last week’s rally likely triggered investors to sell on the exciting news. The drop was compounded by the release of its half-year results, where profit was below market expectations, reinforcing that reporting season is rewarding earnings delivery over headlines.
