On Friday the S&P/ASX 200 index pushed notably higher for a second successive day thanks to trade war optimism.
A number of shares climbed more than most and some even managed to hit record highs.
Three that achieved this milestone are listed below. Here's why they are on a high right now:
The Coles Group Ltd (ASX: COL) share price reached a record high of $14.75 on Friday. The key catalyst to the supermarket giant's strong share price gain this year has been its investor day event in June and the unveiling of its refreshed strategy. This strategy will see the company deliver $1 billion in cumulative savings by FY 2023. In addition to this, the company's solid full year result and the return of rational competition has caught the eye of investors in recent weeks.
The ResMed Inc. (ASX: RMD) share price continued its strong run and hit a record high of $20.75 at the end of last week. Investors have been buying the sleep treatment-focused medical device company's shares this year thanks to another impressive performance in FY 2019. Once again, ResMed delivered strong revenue and profit growth thanks to increasing demand for its products across the globe. The good news is that management remains confident on its outlook, which could mean another solid year of growth in FY 2020.
The WiseTech Global Ltd (ASX: WTC) share price stormed to a record high of $38.80 on Friday. The logistics solutions company's shares have been on fire this year thanks to a series of earnings accretive acquisitions, its strong performance in FY 2019, and positive long-term growth potential. Due to increasing demand for its platform and a very low customer churn rate, WiseTech Global recorded a 57% increase in total revenue to $348.3 million and a 33% lift in net profit after tax to $54.1 million. For FY 2020 management has provided guidance for revenue growth of 26% to 32% and EBITDA growth of 34% to 42%.
