8 ASX 200 shares hitting multi-year highs today

These shares have defied the trend, hitting new price milestones amid a day in the red for the ASX 200.

Man pointing an upward line on a bar graph symbolising a rising share price.

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S&P/ASX 200 Index (ASX: XJO) shares are down 0.21% to 8,546.8 points on Friday.

The ASX 200 energy sector is leading the market today with a very strong 4.97% gain at the time of writing.

The utilities sector is also buoyant, up 4.39%.

The weakest sector is technology, down 1.01%.

Meanwhile, eight ASX 200 shares have hit new price milestones.

Which ASX 200 shares just rose to a new high?

Charter Hall Long WALE REIT (ASX: CLW)

The Charter Hall Long WALE REIT lifted to a two-year high share price of $4.31 today.

There is no news from Charter Hall today.

However, falling interest rates are a likely tailwind for this ASX 200 real estate investment trust (REIT).

Interest rate cuts lower the cost of interest on a REIT's debt, and can lead to higher valuations for their property holdings.

Codan Ltd (ASX: CDA)

This ASX 200 technology share rose to a four-year high of $19.27 today.

There is no official news from Codan on Friday.

Austal Ltd (ASX: ASB)

This ASX 200 industrial share hit a new all-time high of $6.38 today.

The Australian global shipbuilder and services provider has made no announcements today.

However, news that a South Korean suitor is seeking to raise its stake in Austal has excited the market this week.

Macquarie has an outperform rating on Austal shares, with the stock well above the broker's latest 12-month target of $4.75.

Orica Ltd (ASX: ORI)

This ASX 200 materials share rose to a five-year high of $19.29 per share on Friday.

Macquarie thinks the commercial explosives provider has more room to run.

The broker has an outperform rating and a 12-month price target of $21.48 on Orica shares.

There is no news from Orica today.

Downer EDI Ltd (ASX: DOW)

Downer shares peaked at $6.24 per share in earlier trading.

This is a three-year high for the ASX 200 industrial share amid no company news today.

Gold Road Resources Ltd (ASX: GOR)

This ASX 200 gold share rose to a record high of $3.48.

Gold shares are ripping on Friday, with the S&P/ASX All Ordinaries Gold Index (ASX: XGD) up 3.95%.

The gold price is up 1.4% at the time of writing and trading above US$3,440 per ounce.

Investors continue to look to gold as a safe-haven investment amid escalating geopolitical tensions and economic uncertainty. 

There is no company-specific news from Gold Road Resources today.

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price reached a 52-week high of 75 cents today.

There is no news from the ASX 200 gambling group today.

Macquarie has a neutral rating and a 12-month price target of 70 cents on this consumer discretionary share.

Karoon Energy Ltd (ASX: KAR)

This ASX 200 energy share lifted to a 52-week peak of $1.98 today.

The oil and gas explorer has no news for the market on Friday.

Meantime, its share buyback program continues.

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 positions in and has recommended Austal and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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