Tuesday has shaped up to be a good day on the market, particularly for these S&P/ASX 200 Index (ASX: XJO) shares. They’ve surged to their highest point of the last 12 months.
Right now, the ASX 200 is 0.62% higher. That’s helped it reach its own high point – the highest it’s been since early January.
So, which ASX 200 shares are joining in on today’s momentum to set new 12-month records? Let’s take a look.
3 ASX 200 shares hitting 52-week highs on Tuesday
Endeavour Group Ltd (ASX: EDV)
The Endeavor share price surged to a new 52-week high of $7.85 in intraday trade today – a 1.15% gain – despite only silence from the company.
In fact, the Woolworths Group Ltd (ASX: WOW) spin-off and house of Dan Murphy’s hasn’t released news to the market since early February.
But that doesn’t mean Endeavour hasn’t been busy. It opened its first premium Dan Murphy’s Cellar last week.
It also opened its first bar – ZERO% – selling alcohol-free drinks in Melbourne last month.
Incitec Pivot Ltd (ASX: IPL)
The Incitec Pivot share price also reached a new 52-week high of $4.17 on Tuesday, representing a 4.25% gain. That’s the highest the ASX 200 share has traded since 2018.
While there’s been no price sensitive news from Incitec Pivot, the company did provide a positive update on its Waggaman Ammonia Plant this morning.
Back in February, the plant was shut down after a hydrogen release was detected at the facility. Investigations later found the incident was caused by a rupture in a section of pipe, resulting in an extended shutdown for repairs.
Today, Incitec Pivot announced production at the plant has restarted and is operating at name plate capacity.
The company expects the shutdown to have an impact on its earnings before interest and tax (EBIT) of around $173 million and an impact on its net profit after tax (NPAT) of approximately $124 million.
Around 75% of that will be recognised in its earnings for the first half, set to be released next month.
While the company’s working to progress a claim under its comprehensive property insurance policy, it won’t include any adjustments for potential insurance recoveries in its upcoming results.
Cleanaway Waste Management Ltd (ASX: CWY)
The final ASX 200 share hitting a new 52-week high on Tuesday is Cleanaway.
The waste management company’s stock surged 4.9% in intraday trade to reach a high of $3.21.
There’s been no news from the company to explain its gains. However, its share price has been outperforming over the long term.
It has gained 29% over the last 12 months, outperforming the ASX 200 by 22%.
The post 3 ASX 200 shares smashing 52-week highs on Tuesday appeared first on The Motley Fool Australia.
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More reading
- 3 ASX 200 shares hopping to new 52-week highs today
- The Endeavour share price has notched up 4 all-time highs in a week. What’s happening?
- 3 ASX All Ordinaries shares rocking new all-time highs today
- Own Endeavour shares? Here are 4 things you probably don’t know
- 3 ASX 200 shares smashing 52-week highs on Thursday
Motley Fool contributor Brooke Cooper 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 Bruce Jackson.
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