ASX 200 weekly wrap: Telstra, CBA & NAB market cap movements

Last week Telstra was the biggest winner on the ASX 200 in terms of market capitalisation growth, but an important investor meeting on Wednesday could impact the future for Australia’s biggest telco’s growth.

Telstra saw a market cap increase of $1,902,927,657, up 5.8%, which followed a positive broker note from private wealth management group Ord Minnett on Thursday.

The broker upgraded Telstra’s shares from a hold rating and came ahead of the telco’s investor day this week where CEO Andy Penn is expected to discuss growth plans and address its earnings gap.

While Telstra’s share price rebounded recently, it fell 51% in the past three years, with the future performance of the stock potentially impacted by how the market reacts to what comes out of the investor meeting this week.

Other notable winners in terms of market capitalisation growth last week included APA Group which saw a market cap increase of $1,710,846,079 (+17.3%).

The gas infrastructure and transportation company received a $13 billion cash takeover last week by a power utility and infrastructure company consortium based in Hong Kong.

Bank shares take a hit

As the Banking Royal Commission continues to shine a light on misconduct in the industry, some of Australia’s biggest banks’ share prices have noticeably fallen on the stock exchange.

Last week Commonwealth Bank and NAB featured on the loser’s list of the ASX 200.

Commonwealth Bank saw its market cap decrease by $1,003,110,471 (-0.80%), while NAB’s market cap was down $680,738,557 (-0.90%).

Gateway Lifestyle Group the biggest share price winner

In terms of share price changes, one of Australia’s largest retirement village operators saw a positive share price change of 18.5% last week.

Gateway Lifestyle Group received a takeover bid from the Australian arm of housing giant Hometown America.

Other key share price winners and losers from last week can be seen in the table below.