Shareholders in vertically integrated energy company Origin Energy (ASX: ORG) continue to see their shares touch new highs this week, with the share price hitting $14.15 on Tuesday. The last time the share price was at these levels was December 2011. Having plunged as low as $9.84 in November 2012 in the wake of a profit downgrade, the shares have sine staged a 41% recovery to yesterday’s high.
The stock market is certainly buoyant at present with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) closing at a four-month high of 5201.2 points on Tuesday and Origin is far from alone amongst blue chip stocks hitting new highs.
Within the freight and logistics sector Asciano (ASX: AIO) hit a new 52-week high while Aurizon (ASX: AZJ) hit a new all-time high since its listing in 2010. In the finance sector Bank of Queensland (ASX: BOQ) is now trading at its highest level in over two and a half years while retailer JB Hi-Fi (ASX: JBH) is back at levels last seen in April 2011.
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Motley Fool contributor Tim McArthur owns shares in Origin Energy.
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