3 ASX 200 shares smashing multiyear highs on Wednesday

What’s driving these stocks to their highest point in years today?

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The S&P/ASX 200 Index (ASX: XJO) is continuing its green streak on Wednesday, helped along by shares in the companies below.

They have surged to their highest point in years today, with some reaching record highs.

At the time of writing, the ASX 200 is up 0.83%. That brings its gains for this week so far to 1.37%.

Let’s take a look at what’s sending these stocks to new multi-year highs.

3 ASX 200 shares trading at their highest in years

Amcor (ASX: AMC)

The Amcor share price is pushing higher again after the stock’s US counterpart surged overnight.

Amcor’s stock reached a record high of $18.98 on Wednesday. That represents a 2.37% increase on its previous closing price.

The packaging provider is dual-listed on both the ASX and the New York Stock Exchange.

While Australia slept, its New York listing – Amcor (NYSE: AMCR) – lifted 3% to close Tuesday’s session overseas at US$13.33 a share.

As both listings refer to the same company, it makes sense that the overnight movement in New York might have equated to a gain on the ASX today.

Worley Ltd (ASX: WOR)

The Worley share price is also in the green on Wednesday. It pushed upwards to reach $14.87 earlier today ­– a new post-pandemic high.

Today’s gains come after the ASX 200 energy share announced two pieces of exciting news.

Worley has won a three-year engineering and procurement services contract. The contract will see the engineering company supporting five Shell (LON: SHEL) assets in the Gulf of Mexico.

On top of that, the company announced it has signed a new agreement with its partner Avantium. The pair have agreed to develop a world-first, commercial-scale renewable plastics facility. The facility will produce up to 5,000 kilotonnes of furandicarboxylic acid – a recyclable building block for many chemicals and plastics – each year.

Whitehaven Coal Ltd (ASX: WHC)

Finally, ASX 200 coal producer Whitehaven Coal has seen its share price hit a new multi-year high of $5.35 today. That’s the highest it’s traded since 2018.

There’s been no news from the company today. However, the price of thermal coal rose 2.8% overnight to reach US$413.65 a tonne, according to CommSec.

That could go some way to explaining the stock’s gains today.

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 positions in and has recommended Amcor Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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