3 ASX 200 shares rocking new, multi-year highs on Tuesday

These three ASX 200 shares hit new multi-year highs today…

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Overall, it wasn’t too pleasant a day for the S&P/ASX 200 Index (ASX: XJO) on Tuesday. The ASX 200 spent most of the day deep in red territory, although it did recover late afternoon to record an overall loss of only 0.07% for the day. But that didn’t stop three ASX 200 shares from hitting new, multi-year highs today.

3 ASX 200 shares that hit new multi-year highs today

Coles Group Ltd (ASX: COL)

It certainly wasn’t ‘down, down’ for the Coles share price today, with the ASX 200 supermarket operator hitting a new record high. Coles shares ended up closing at $19.21 each today, up a healthy 1.91%.

But Coles rose as high as $19.28 around midday. That’s the company’s highest-ever share price since it was kicked out of its old parent company Wesfarmers Ltd (ASX: WES) in 2018.

There wasn’t anything specific that prompted Coles shares to hit this new high watermark, although we did take a look at some of the underlying factors behind this rise earlier today.

Endeavour Group Ltd (ASX: EDV)

Endeavour is our next ASX 200 share to take a look at. This bottle shop and pubs company also had a corker. It closed at $8.11 this afternoon. But rose as high as $8.12 during intra-day trading, the company’s new all-time high.

Of course, Endeavour has only been on the ASX under its own steam for just over a year. It was formerly part of Woolworths Group Ltd (ASX: WOW) before being spun out back in June 2021.

We didn’t hear anything out of this company today either. Saying that, Endeavour has been blessed with some love from ASX experts recently. So that could have played a role in this new high today.

Orica Ltd (ASX: ORI)

ASX 200 explosives manufacturer Orica is our third ASX share lucky enough to hit a new 52-week high today.

In this company’s case, Orica shares closed at $17.20 each today after rising as high as $17.22, the new high watermark. That’s not a record high for Orica, but is still the highest the share has traded at since at least mid-2020. 

Again, there wasn’t any specific news that triggered this new high today. However, the Orica share price has been steadily climbing for months now. It is currently up a healthy 25.6% year to date in 2022  as well as up almost 9% over the past month alone.

Motley Fool contributor Sebastian Bowen has positions in Wesfarmers. 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 COLESGROUP DEF SET and Wesfarmers 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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