ASX 200 shares are showing signs of a recovery in February having thrust off 3-month lows to start the month.
The benchmark S&P/ASX 200 Index (ASX: XJO) has slipped 4.5% since 4 January, although is showing momentum after jumping off a low of 6,838 points to now trade above 7,244 points.
Within that group, two ASX 200 shares are shining brightly today after cruising past their previous 52-week highs. Let's take a quick look.
Vicinity Centres (ASX: VCX)
Shares in property manager Vicinity are jumping 9% to a new 52-week high today after the company released its half-yearly results.
It was a positive half for Vicinity, with statutory net profit after tax (NPAT) up by more than $1 billion. This took it from a loss to a $650.2 million profit. Funds from operations (FFO) was $287.7 million or 6.32 cents per share.
The group also completed 643 leasing deals and leased 201 vacant stores during the half. Collection of gross rental billings averaged 80% for the period as well.
Vicinity expects FY22 FFO per security to be in the range of 11.8 cents to 12.6 cents. Adjusted FFO is expected to fall in the range of 9.5 cents to 10.3 cents.
It is also aiming for a payout range of 95%-100% of AFFO for its distributions in FY22, according to the release today.
Vicinity's "disciplined approach to cash collection and retailer support, together with higher than anticipated tenant retention and resilient ancillary income" drove the half's results, according to the company's CEO, Grant Kelley.
Ampol Ltd (ASX: ALD)
Shares in petroleum player Ampol shot to new single-year highs after investors drove up the price in pre-market trading. Ampol is now trading at $32.20 after reaching a high of $32.54.
Whilst there's been no price-sensitive information released by the company today, gasoline spot prices and futures have hit 52-week highs as well. The spot price is now fetching US$2.68 per gallon, up 48% on the year.
In the last month, gasoline has jumped over 10%, whereas the Brent crude oil contract – upon which more than 90% of the world's oil is priced – has jumped more than 9% as well.
Given Ampol's position as a price taker in the petroleum markets, its share price closely traces the price of oil and gasoline.
As such, the commodities rally has been a net positive for Ampol, and the market agrees after bidding up its share price almost in unison with gasoline and oil prices.
Plotting the price dispersion of all three commodities over the last few months reveals the tightness of this fit as is the case with all price takers in commodities.
