Why CBA and these All Ords shares just hit 52-week highs

Commonwealth Bank of Australia (ASX:CBA) shares are one of three that raced to 52-week highs last week…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on 52-Week Highs

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
52-Week Highs

13 ASX 200 shares at 52-week highs

These shares are making their shareholders smile on Thursday.

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
52-Week Highs

These 5 ASX 200 shares just hit new 52-week highs

Do you own any of these five lucky stocks?

Read more »

ETF on white blocks with a rising arrow on top of coin piles.
52-Week Highs

12 ASX ETFs breaking the mould to hit 52-week highs today

What a day for ASX ETF investors!

Read more »

A happy boy with his dad dabs like a hero while his father checks his phone.
52-Week Highs

Why is the A2 Milk share price up 46% year to date and at a 52-week high?

This infant formula company's shares have delivered the goods this year.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Travel Shares

Why is the Webjet share price racing to a 52-week high today?

Webjet has been busy talking up its WebBeds business this morning.

Read more »

Man pointing at a blue rising share price graph.
Financial Shares

Big ASX news: Macquarie share price hits new 52-week high

It's been a great day to own Macquarie shares...

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
52-Week Highs

Metcash share price hits 52-week high on broker upgrade: Time to buy?

Brokers have responded positively to its trading update.

Read more »

a woman sits amid a stylish home setting on a sofa with plush cushions with a coffee table and plant in the foreground while she peruses a tablet device.
52-Week Highs

52-week high! ASX All Ords stock surges 5% as chair steps down

Investors are shopping for Adairs shares after an announced leadership change.

Read more »