5 best ASX All Ordinaries shares in June

Why did these ASX shares fly while the All Ords dropped?

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Key points

  • The All Ords fell during June but these five ASX shares went higher 
  • Most of the share price rises are likely related to news shared by the companies 
  • The index drop was more to do with macro-economic issues worrying ASX investors

June was a tough month for the S&P/ASX All Ordinaries Index (ASX: XAO) which lost 9.6% of its value over the period.

But these ASX shares had a ripsnorter, with the top-performer gaining more than 60% in new value.

Here are the five best-performing ASX shares of the month.

Why did these ASX shares fly…

It appears these five ASX shares went higher largely because their companies had great news to share with the market in June.

Their share price rises are likely a result of factors unique to their businesses. Put simply, that’s why they went up while the All Ords went down.

The companies released the following positive news to the ASX in June:

And why did the ASX All Ords drop?

The index fell due to investor concerns over macro-economic issues, namely rising inflation and interest rates.

At the start of the month, the Reserve Bank of Australia raised the official cash rate by 50 basis points. This was a big move and the first time the RBA has made a change of this size in a decade.

Meantime costs of living are rising — particularly electricity.

The resulting negative sentiment has led to less buying support in the ASX share market and a drop in value for the All Ords.

Motley Fool contributor Bronwyn Allen 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 no position in any of the stocks mentioned. 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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