The CSL Limited (ASX: CSL) share price has rocketed nearly 15% higher on the way to a new record high in 2020.
It's not just CSL that's surging higher, with Goodman Group (ASX: GMG) and Woolworths Group Ltd (ASX: WOW) also climbing. So, why are the share prices of these ASX 20 companies surging this year and is there still time to buy?
CSL shares continue to hit new record highs
CSL has proven to be one of those top ASX growth shares that just hasn't slowed down.
The CSL share price is currently $315.25 at the time of writing compared to the split-adjusted IPO price of $0.76 per share. It's been a strong start to 2020 for the healthcare group on the back of investor optimism and a flock to blue-chip quality.
Woolworths benefits from German rival's exit
The Woolworths share price is the top-performing ASX 20 company so far this year. One big factor has been the exit of German supermarket giant, Kaufland, from the Aussie market.
Kaufland announced an unceremonious exit from Australia after deciding to focus on its European operations instead.
That leaves Woolworths and Coles Group Ltd (ASX: COL) with one less rival in the domestic market. Woolworths has outperformed even CSL shares this year and climbed 15% higher to start the year.
Why Goodman Group is the top-performing REIT
Goodman Group is the third ASX 20 stock that has climbed more than 10% this year. Goodman shares are trailing behind CSL and Woolworths but still up 11% in 2020.
The Aussie real estate investment trust (REIT) has been quietly climbing higher on the back of low interest rates and a broader real estate turnaround.
Goodman reaffirmed its FY 2020 guidance in November and investors have been bullish to start the year. The Aussie REIT has significant industrial real estate exposure in 17 countries.
Foolish takeaway
Some of Australia's biggest companies are set to release their half-year or full-year results in February. I'd be keeping a close eye on CSL and these other ASX 20 shares in the next month or so.
