It's looking like another horrid day is in store for the All Ordinaries (ASX: XAO Index and most ASX All Ords shares this Thursday. At the time of writing, the All Ords has slipped by a painful 1.2% and is down to just over 8,100 points.
The All Ordinaries is now down a nasty 2.3% since last Wednesday's market close.
But let's talk about three ASX All Ordinaries shares that are decisively buckling the market today to push past new multi-year highs.
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Which ASX All Ordinaries shares are rocking new highs today?
Bendigo and Adelaide Bank Ltd (ASX: BEN)
First up is ASX bank stock Bendigo Bank. Bendigo Bank shares had a rough start this morning, opening deep in red territory. But investors quickly changed their tune as the trading day went on. As it currently stands, this ASX All Ordinaries share has gained 0.41% and is up to $12.35 a share. That's right on Bendigo and Adelaide Bank's new 52-week high.
The new peak for this All Ords share is also the highest Bendigo Bank has traded at in many years. You'd have to go back to mid-2017 to find the last time the bank was commanding this sort of pricing. Alas, we're still a long way from the all-time highs of more than $17 that we saw just before the global financial crisis kicked off back in 2007.
But no doubt Bendigo Bank investors will still be taking the win today.
It's unclear why Bendigo Bank shares are defying the market this Thursday. The rest of the bank shares are nursing substantial losses, so perhaps this All-Ords stock has just caught a lucky break.
Codan Ltd (ASX: CDA)
Next up, we have mining and metal detection stock Codan. Like Bendigo Bank, Codan shares started off in the red this morning before recovering to push higher.
At present, this ASX All Ordinaries share is up 0.16% at $12.48 a share. That's after the company peaked at $12.58 just before midday — a new 52-week high for Codan. But it's also the highest the shares have traded at since October 2021.
There has also been no fresh news or developments from Codan itself today. However, a few mining companies are managing to pull off an upset win this Thursday, so perhaps this is another lucky break for Codan investors.
Newmont Corporation (ASX: NEM)
Speaking of other miners, All Ordinaries gold mining stock Newmont is our final share worth checking out today. Newmont is another stock defying the grim mood on the broader market to push higher this session.
At the time of writing, Newmont stock has gained an impressive 1.06% and is up to $72.16 a share. That's after the company touched a new high of $73.27 earlier this morning.
This isn't exactly a new multi-year high for Newmont. But given this company has only been an ASX All Ordinaries share since October last year (thanks to its acquisition of the old Newcrest Mining), it's still a momentous day for Newcrest investors.
Newmont has a very obvious catalyst for its share price outperformance today. Investors are clearly reacting with joy over the company's quarterly update, which was released this morning.
As we covered at the time, this update revealed Newmont enjoyed a 113% surge year-on-year in operating cash flows for the second quarter of 2024 to US$1.4 billion. That was largely thanks to galloping gold prices.
