Here’s why it was a very good week for these 5 ASX shares

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Australian stock market

As measured by the S&P/ASX 200 Index, the Australian share market had a solid week, up around 1.8 per cent over the course of the past 5 days.

These 5 ASX shares were amongst some of the best performing stocks over the last week.

Despite saying it expects difficult trading conditions for the foreseeable future, the Australia and New Zealand Banking Group (ASX:ANZ) share price has gained more than 3 per cent this week.

Also having a good week was fellow ASX blue chip share Woolworths Group Ltd (ASX:WOW). Its share price also gained more than 3 per cent over the course of the week after it reported Q3 2018 food sales grew 4 per cent on a comparable basis.

The WiseTech Global Ltd (ASX: WTC) share price had an exceptional week, jumping 22 per higher. The logistics software company said it expects FY18 revenue growth of 37 to 43 per cent to a range of $210 to $220 million. This was up slightly from the company’s previous guidance of revenue between $207 to $217 million.

The Challenger Ltd (ASX: CGF) share price has jumped more than 11 per cent higher over the past week. Presenting at the Macquarie Group Ltd (ASX:MQG) investing conference, Challenger reiterated it is both the leading provider of annuities in Australia and one of the fastest growing fund managers in the country. The company said it has a highly differentiated business model in Australia, one that would be extremely hard to replicate, giving it considerable resilience and competitive advantage in a high growth market.

The Clover Corporation Limited (ASX: CLV) share price has jumped 20 per higher after Ord Minnett initiated coverage on the stock and described Clover’s business as “selling shovels to the gold miners.”

Clover has developed a way to encapsulate Docosahexaenoic acid (DHA), an omega-3 fatty acid, so it can be added into a range of products like infant formula. This has prompted some to wonder whether Clover could become the “next A2 Milk Company Ltd (ASX:A2M).”

The big jump in the Clover share price from a closing price of $1.095 on 26 April 2018 to a high of $1.40 on Friday morning prompted the ASX to issue the company with a speeding ticket. Clover said it was not aware of any non-disclosed information that could explain the recent trading in its securities.