Despite finishing on a weaker note today, the ASX still managed to record a strong rebound this week, with all sectors bar the healthcare and IT sectors gaining ground. Led by strong performances from energy shares and utilities stocks, the ASX 200 finished on 7,356.70 points, up 1.6% since last Friday.

Which shares excelled?

Diagnostics and therapeutic biotech Telix Pharmaceuticals (ASX: TLX) was in the news this week, soaring on a commercial distribution agreement for its prostate cancer imaging product in Spain. The exclusive deal will see NUCLIBER S.A Spain distribute and act as a local representative for Illuccix. The company is also advancing its efforts to receive marketing authorisation for Illuccix across Canada and the EU, having already received approval locally in Australia.Bouncing back from last week Friday sell-off, Novonix (ASX: NVX) quickly turned things around to shrug off concerns surrounding Tesla move to seek an extended tariff waiver for Chinese graphite imported into the USA. The battery metals tech firm is set to be added to the ASX 200 within a fortnight, buoying confidence among shareholders. During the week, the company also announced it has received CAD$1.675 million from NGen to play a key role in developing its Canadian battery materials supply chain.Elsewhere, wholesale distributor and marketer Metcash (ASX: MTS) released a promising set of half-year results at the start of the week, bringing in a wave of optimism among buyers. Management announced that underlying profit after tax was up 13.1% to $146.6 million, with Group revenue up 1.3% to $7.2 billion. With its liquor and hardware divisions supporting growth and offsetting a slump in trading for its food division, the company was able to raise its dividend by more than 30% to 10.5 cents a share.  Mesoblast (ASX: MSB) was another name to shine brightly this week, with the regenerative medicine company bouncing back as some risk-on sentiment returned throughout the week. At the same time, Mesoblast also released findings from its DREAM-HF Phase 3 trial of Rexlemestrocel-L in patients with chronic heart failure and low ejection fraction (HFrEF). The results noted that the greatest benefit from Rexlemestrocel-L was in high-risk heart failure patients with diabetes and/or myocardial ischemia.Amid a volatile week of trading, Vulcan Energy Resources (ASX: VUL) made the news as it announced another binding offtake agreement for lithium hydroxide. In what is arguably the highest-profile deal struck by the company thus far, the aspiring zero-carbon lithium producer has signed a five-year supply deal with Volkswagen. The deal, subject to a number of prequalifications, will not start until 2026, however, VW will be required to purchase a minimum of 34,000 tonnes and up to 42,000 tonnes over the contract. Furthermore, VW has also agreed to a first right of refusal to invest in future production capacity for VUL zero-carbon project in the Upper Rhine Valley. VUL also rounded out the week with a geothermal renewable energy plant acquisition.Other names on the march higher over recent trading sessions were Fortescue Metals Group (ASX: FMG), Cettire (ASX:  CTT), Nanosonics (ASX: NAN), Western Areas (ASX: WSA) and Gold Road Resources (ASX: GOR).

Which shares dragged on the market?

What a difference a week makes. Just seven days after featuring as last week top-performing mid-to-large cap stock, shares in Singapore mobile business Tuas (ASX: TUA) came back to earth with a thud. While there was no price-sensitive news on offer this week, it was almost certainly a case of profit taking that sparked the action as investors responded to the company recent successful bid for 10 MHz of spectrum for the 2.1 GHz band across Singapore.Magellan Financial Group (ASX: MFG) was caught up in the news this week, with the highly-regarded fund manager at the centre of much drama. First, the company CEO Brett Cairns suddenly resigned from the firm due to personal reasons. That was followed up by news that founder Hamish Douglass is separating from his wife, which sparked speculation that shares held by the pair could be sold or caught up in the crossfire of any divorce settlement. While the couple issued a statement to the ASX confirming both have no intention to sell any MFG shares, that only settled the nerves of investors temporarily. Shares in MFG were at one stage near a three-year low.Meanwhile, ethical fund manager Australian Ethical Investment (ASX: AEF) was another casualty this week, with its earnings guidance update striking home. The fund recently announced its funds under management (FUM) increased 9% in the first four months of the new financial year, guiding for first-half underlying NPAT of $5 million to $5.5 million, an 8% rise on the prior corresponding period. With the Australian Financial Review also bringing attention to the fund lofty P/E ratio in a recent article, shareholders may have been happy to take their gains off the table after a huge run. And lastly, for the second week running, the air came out of the share price of Australian Strategic Materials (ASX: ASM) and Li-S Energy (ASX: LIS), with both stocks retreating.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!