The S&P/ASX 200 Index (ASX: XJO) is up 0.7% in afternoon trade on Thursday, with three large-cap ASX 200 stocks trading in new 52-week-plus highs.
Here's what's happening.
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AMP Ltd (ASX: AMP)
AMP shares are up 0.7% at the time of writing, changing hands for $2.15 apiece.
That marks a multi-year high for the diversified financial services company, with the ASX 200 stock now trading at its highest levels since July 2019.
There's no fresh news out from AMP today. But the share price has enjoyed a strong run over the last week since the company lifted its first-half (H1 FY 2026) profit expectations last week.
On 16 July, management revealed they expect H1 underlying net profit after tax (NPAT) to come in the range of $170 million to $180 million. That's a big increase from H1 FY 2025 NPAT of $131 million.
Management attributed the profit increase to a stronger contribution from AMP's China partnerships, favourable investment income spurred by rising interest rates, and the recognition of $13 million related to the partial sale of AMP's remaining assets within a legacy fund.
AMP shares closed up 9.8% on the day of the announcement.
Ampol Ltd (ASX: ALD)
Also notching new one-year-plus highs today is Aussie fuel supplier Ampol.
Ampol shares are up 0.6% at the time of writing, trading for $39.17 each.
You'd have to go back to April 2024 to find the ASX 200 stock trading at higher levels.
Ampol shares are now up 49% since this time last year, boosted by increased profits and production.
Today's lift looks to be fuelled by the increasing oil price.
With attacks still ongoing in and around Iran, coupled with new Yemeni Houthi attacks on oil tankers in the Red Sea, the Brent crude oil price is up 3.4% overnight to US$94.07 per barrel, according to data from Bloomberg.
The oil price is now up more than 31% since the beginning of July.
Which brings us to…
Vicinity Centres (ASX: VCX)
Joining the list of ASX 200 stocks notching new 52-week highs is shopping centre owner and manager Vicinity Centres.
Vicinity Centres shares are up 0.4% at the time of writing, swapping hands for $2.65 each.
That's the highest level since November 2019.
There's also no fresh price-sensitive news out from Vicinity Centres. But after jumping from a one-year closing low of $2.26 a share on 12 March, investors have been reassessing the valuation of this ASX REIT.
