Rising bond yields spooked global markets last week and led to the S&P/ASX 200 Index (ASX: XJO) sinking notably lower. The benchmark index lost 1.8% of its value to end at 6,673.3 points.
Fortunately, not all ASX 200 shares dropped with the market, with some even recording strong gains. Here’s why these were the best performers last week:
Sandfire Resources Ltd (ASX: SFR)
The Sandfire share price was the best performer on the ASX 200 last week with an 18% gain. Investors were fighting to buy shares after the copper producer posted a big increase in its first half profits. For the six months ended 31 December, Sandire almost doubled its net profit to $60.8 million. This allowed its board to lift its interim dividend to 8 cents…