3 ASX 200 stocks charging higher this week even as the market sinks

MotleyFool
2024-12-13

With only a few hours of trade left in the week, the S&P/ASX 200 Index (ASX: XJO) is down 1.7%, but we can't put the blame on these three outperforming ASX 200 stocks.

One of this week's high-performing shares is that of a financial services company.

Another is a diversified and recently embattled mining giant.

And the third is Australia's biggest coal miner.

Here's how they've been outpacing the market this week.

Three ASX 200 stocks rising in a falling market

The first ASX 200 stock to post solid gains despite the benchmark index retreat this week is coal miner Whitehaven Coal Ltd (ASX: WHC).

Whitehaven shares closed last Friday at $6.38. In late afternoon trade today, they are changing hands for $6.58. That puts the Whitehaven share price up 3.1% over the week.

Despite that lift, shares in the ASX coal stock remain down 14.8% year to date. Whitehaven shares also trade on a fully franked 3.0% trailing dividend yield.

A second ASX 200 stock that's managed to shrug off the sliding market this week is lithium miner and diversified resources producer Mineral Resources Ltd (ASX: MIN).

The Mineral Resources share price closed last week at $34.76. At the time of writing today, shares are trading for $36.77 apiece, which puts the share price up 5.8% over the week.

With Mineral Resources shares still down 48.0% year to date, this week's rebound will come as welcome news to long-term shareholders.

Which brings us to the best-performing ASX 200 stock of the week, financial services company Insignia Financial Ltd (ASX: IFL).

The Insignia share price closed last Friday at $3.08. Insignia shares are currently swapping hands for $3.67 apiece, up a whopping 19.2% for the week. That sees the Insignia share price up 57.6% in 2024.

Unlike Mineral Resources and Whitehaven, which both look to have benefited from new stimulus measures flagged by China earlier in the week, Insignia shares are leaping higher again today after the ASX 200 stock confirmed media speculations that it was in takeover discussions.

In an ASX release this morning, the company said that after market close on Thursday, it received a confidential, preliminary, non-binding and indicative acquisition proposal from Bain Capital.

The proposal would see Insignia Financial shareholders get $4.00 in cash for every share they hold.

This values the ASX 200 stock at around $2.68 billion.

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