Last week was another strong one for the All Ordinaries index thanks largely to the signing of a phase one trade deal between the United States and China.
This development gave investor sentiment a big boost and sent many shares racing higher.
Three that climbed to 52-week highs or better are listed below. Here’s why they are on form right now:
BWX Ltd (ASX: BWX)
The BWX share price hit a 52-week high of $4.72 on Friday. Investors have been buying the personal care products company’s shares over the last few months following its strong end to FY 2019 and positive guidance for the new financial year. After a difficult FY 2019, the company behind the Sukin brand expects to achieve 25% revenue growth and 25% to 35% EBITDA growth in FY 2020. Investors appear to believe this is confirmation that it is over the worst of its issues now and onwards and upwards from here.
Commonwealth Bank of Australia (ASX: CBA)
The Commonwealth Bank share price climbed to a 52-week high of $84.96 last week despite there being no news out of the bank. However, with tensions easing in the Middle East and the United States and China signing a trade deal, investors sentiment was given a major boost. This, combined with its generous yield in a low interest rate environment, appears to have led to the rampant buying of its shares last week by investors.
REA Group Limited (ASX: REA)
The REA Group share price continued its impressive run and hit an all-time high of $115.02 on Friday. The property listings giant’s shares have been strong performers over the last 12 months thanks to its solid performance in FY 2019 and the recent rebound in house prices. In respect to the latter, during the December quarter the value of Australian houses grew by the most over a three-month period in a decade. This could bring more houses onto the market in the near term and drive strong demand for listings.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.