It’s a pretty good day to be an ASX 200 share market investor this Monday. For one, we have seen the S&P/ASX 200 Index (ASX: XJO) hit yet another new all-time high, this one at 7,567 points. But ASX investors might be pretty blase about this new high, seeing as we seem to get another one every few days lately.
However, with the all-time high for the ASX 200, we have also seen many new 52-week highs from other ASX shares. Quite a few today actually. So let’s run through 10 of the most prominent ones this Monday:
10 ASX 200 shares hitting new 52-week highs
|ASX 200 company||New 52-week high|
|Argo Investments Limited (ASX: ARG)||$9.65|
|Endeavour Group Ltd (ASX: EDV)||$6.95|
|Goodman Group (ASX: GMG)||$23.73|
|Medibank Private Ltd (ASX: MPL)||$3.42|
|Metcash Limited (ASX: MTS)||$4.20|
|NIB Holdings Limited (ASX: NHF)||$7.69|
|Pilbara Minerals Ltd (ASX: PLS)||$2.14|
|Suncorp Group Ltd (ASX: SUN)||$12.93|
|Telstra Corporation Ltd (ASX: TLS)||$3.83|
|Wesfarmers Ltd (ASX: WES)||$64.10|
As you can see, it’s highs all round for many ASX 200 shares. So what’s behind all of this optimism?
Firstly, it’s worth noting many of these companies were already on the precipice of new 52-week highs. A slight nudge upwards, which was happily provided by the ASX 200 today, was all that was needed to push some shares to their new 52-week highs.
We can put Pilbara Minerals or Telstra in this bucket. In Telstra’s case, this ASX telco closed last week at $3.79 a share so it didn’t need much of a push to hit $3.83 this morning.
Other ASX 200 shares here are benefiting from recently released earnings reports for FY2021. Suncorp is a good example. This ASX financials company released its earnings this morning which were well-received by investors. As a result, the Suncorp share price has surged more than 8% today.
Don’t forget the dividends
You might also note that all of these ASX 200 shares enjoy a reputation as ASX dividend heavyweights. Indeed, many of these ASX shares have trailing dividend yields at the top of the range of what ASX blue chip shares are offering at the present time. This might be telling us that investors are searching for income and yield right now.
Whatever the reasons for each of these ASX 200 shares hitting new 52-week highs, there are no doubt an army of happy investors out there today.