Aussie markets have curled down on Monday after an initial spike. The All Ordinaries Index (ASX: XAO) is now trading just 20 basis points higher at 7,322.
Despite the mixed reaction from China's latest economic data, these three shares have cruised past their former highs to reach new multi-year peaks. Let's take a look.
Yancoal Australia Ltd (ASX: YAL)
Shares in Yancoal are trading in the green today and now rest at $5.57. Early in the session, the Yancoal share price nudged past $5.82, its highest mark since March 2018.
Coal shares have had a stellar run in 2022 thanks to the price of the black rock surging to multi-year highs.
In the last 12 months, the price of coal has climbed 297% and now trades at US$393 per tonne after bouncing from US$258 per tonne in March.
"Along with increasing demand for power generation with a resumption in economic activity after the coronavirus-induced slump," Trading Economics says, "soaring natural gas prices in Europe and Asia in late 2021 boosted coal consumption."
As such, coal players like Yancoal have rallied equally as hard and the company itself has climbed 114% this year to date.
Viva Energy Group Ltd (ASX: VEA)
Shares of Viva Energy are also strong today and have cruised past their highest level since August of 2019 at $2.84.
Investors recently began bidding up Viva Energy shares as the company saw strengths in its "refining and financial performance for the four months ended 30 April," The Motley Fool reports.
It recorded a 65% year-on-year jump in its earnings before interest, tax, depreciation and amortisation (EBITDA) to $308 million.
It put the massive jump in pre-tax earnings down to the spread between its cost of crude oil and the market prices for refined products.
In the last 12 months, the Viva Energy share price has gained 42% and is up 20% this year to date.
Amcor (ASX: AMC)
Shares of global packaging company Amcor have glided upward in Monday's session and now trade less than 1% higher at $18.44.
Despite no market-sensitive updates from the company, the Amcor share price has drawn away from the S&P/ASX 200 Materials Index (ASX: XMJ), which is down 79 basis points on Monday.
Nevertheless, momentum has been building for the Amcor share price these past few weeks, with the stock already taking out its previous 52-week high in last week's trade.
In fact, since we rolled over into May it has climbed 10%, whilst the Materials index has extended heavy losses incurred the month before.
As such, during the past 12 months, the Amcor share price has neared a 16% gain and held onto an 11.6% gain this year to date.
