3 ASX All Ordinaries shares scaling new multi-year peaks today

What’s driven these ASX shares to long-forgotten highs?

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An excited man stretches his arms out above his head as he reaches a mountain peak representing two ASX 200 shares reaching multi-year high prices today

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Key points

  • It's been a good day for the All Ordinaries index 
  • These three ASX shares have cashed in on the momentum 
  • Each one hit new record high share prices today 

Wednesday has been a good day for the S&P/ASX All Ordinaries Index (ASX: XAO) and these three shares have cashed in on it.

They’ve each climbed to their highest share price in years despite releasing no price-sensitive news today.

The All Ordinaries index closed the session up 0.5%, besting the S&P/ASX 200 Index (ASX: XJO) which gained 0.3%.

So, which All Ordinaries shares were trading at their best prices in years today? Let’s take a look.

3 ASX All Ordinaries shares surging to multi-year records

Viva Energy Group Ltd (ASX: VEA)

The Viva Energy share price leapt 3.9% to its intraday high on Wednesday to trade at $2.64. The last time the Australian fuel supplier’s stock traded at such heights was way back in 2019.

There’s been no price-sensitive news from the All Ordinaries company in more than a month. Though, it did provide an update on its Geelong Energy Hub today.

The company’s board has approved the funding needed to upgrade the hub’s processing capacity to produce ultra-low sulphite gasoline.

It has also agreed to acquire LyondellBasell Australia (LBA). LBA is Australia’s only polymer manufacturer and distributor. Its production facility is located in the footprint of the Geelong Refinery.

Elders Ltd (ASX: ELD)

The Elders share price also reached a new multi-year high of $14.19 today. That’s the highest it has traded since 2009 and 3.3% higher than its previous close.

There’s been no news from the All Ordinaries agribusiness share on the ASX today.

Though, it’s been hitting multi-year highs since the release of a positive trading update in mid-March.

Grange Resources Limited (ASX: GRR)

Finally, the Grange Resources share price reached its highest point since 2008 on Wednesday, surging 4.5% to trade at $1.38.

Once again, there’s been no news to explain the iron ore pellet producer’s gains. Though, the All Ordinaries stock has been on an upwards tangent over the past few months.

It has gained 73% since the start of 2022 and 35% over the past 30 days.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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