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With only a few hours of trade left in the week, the S&P/ASX 200 Index (ASX: XJO) is down 1% since last Friday’s closing bell, but don’t blame these three rocketing ASX 200 stocks.
We have a diverse range of top performers this week.
One is a major insurance broker; one is a uranium miner; and the third makes pizzas.
Here’s what’s been grabbing ASX investor interest.
ASX 200 stocks racing higher this week
First up we have AUB Group Limited (ASX: AUB).
Shares in the general insurance broker closed last Friday trading for $32.10. At the time of writing, shares are changing hands for $37.19 apiece. That sees this ASX 200 stock up 15.9% in this week’s falling market.
The strong outperformance this week was driven by news that Danish private equity company EQT lobbed a takeover offer for AUB, with a buyout offer of $45 per share.
On Tuesday, AUB confirmed media rumours of that takeover offer, adding that potential takeover discussions had commenced on September 13, with EQT initially offering $43 per share.
Moving on to the second ASX 200 stock shooting the lights out this week, Paladin Energy Ltd (ASX: PDN).
Shares in the Aussie uranium producer closed last week trading for $8.40, and are currently trading for $9.54 each. That sees the Paladin Energy share price up 13.8% over the week.
There was no fresh price-sensitive news out from the company this week. But the Paladin Energy share price gained 11.3% on Wednesday after United States President Donald Trump helped rekindle investor interest in uranium stocks.
That came as the US government announced its intention to spend around US$80 billion (AU$121 billion) to buy nuclear reactors from Westinghouse Electric Co. The US is embarking on its biggest nuclear power expansion plans in decades.
Leading the charge
Which brings us to the top-performing ASX 200 stock on my list for this week, Domino’s Pizza Enterprises Limited (ASX: DMP).
Shares in the fast-food pizza retailer closed last Friday trading for $15.36. At time of writing, shares are swapping hands for $18.44 apiece. This puts the Domino’s share price up an impressive 20.1% over the week.
Domino’s shares closed in the green every day this week.
Shares surged 7.2% on Tuesday amid media speculations of a looming takeover offer from Bain Capital Specialty Finance Inc (NYSE: BCSF), purportedly valuing the company at $4 billion. At the time, Domino’s market cap was around $1.5 billion.
According to Domino’s, however, there have been no takeover discussion with Bain Capital.
In afternoon trade on Tuesday, the ASX 200 stock stated, “Domino’s confirms that, as far as it is aware, it has not received any proposal from Bain Capital or had any communication with that organisation.”
Nevertheless, shares have continued to rise since then.