The S&P/ASX 200 Index (ASX: XJO) is bouncing back from a multi-day slump on Thursday. These shares are helping to drive it upwards with each one hitting a new 52-week high.
Right now, the index is recording a 1.07% gain.
Here’s what is driving these ASX 200 shares to trade at their highest point in more than a year.
3 ASX 200 shares climbing to long-forgotten highs
Ampol Ltd (ASX: ALD)
The share price of ASX 200 fuel and convenience retailer, Ampol, surged 4% to an intraday high of $33.55 on Thursday – a new post-COVID high.
On the back of the thumbs up, trading of Z Energy shares will cease when the market closes tonight. The company will be delisted from the ASX on 10 May. Ampol is expected to take the reins that same day.
Orora Ltd (ASX: ORA)
ASX 200 materials share, Orora is also reaching for the stars on Thursday. It rose 4.5% to trade at $3.96 in intraday trade. That’s the highest the stock has been in more than two years.
The packaging company’s investor day presentation appears to be the catalyst for today’s gains. In it, the company revealed its outlook for financial year 2022. It noted its operating and earnings momentum has continued beyond the release of its half-year results. It’s still expecting its earnings before interest and tax (EBIT) for this financial year to increase on that of financial year 2021.
The company also believes its upcoming final dividend will be at the top end of its targeted 60% to 80% payout range. Its recent eight-cent interim dividend was the highest ever offered by Orora.
Finally, Orora noted it is well placed to explore strategic acquisitions in the near-term.
Viva Energy Group Ltd (ASX: VEA)
Another ASX 200 energy share joins today’s list. The Viva Energy share price reached an intraday high of $2.79 on Thursday – the highest it’s been since 2019.
There’s been no news out of the fuel provider to explain its share price gains today.
Right now, it’s the third-best performing S&P/ASX 200 Energy Index (ASX: XEJ) stock, trailing Ampol and Whitehaven Coal Ltd (ASX: WHC).
Should you invest $1,000 in Ampol right now?
Before you consider Ampol, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Ampol wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
- 3 ASX All Ordinaries shares scaling new multi-year peaks today
- 3 ASX 300 shares smashing new multi-year highs on Wednesday
- ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal
- Ampol share price nears a new 52-week high following milestone approval
- Budget fuel excise cut: Which ASX shares could benefit?
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.
from The Motley Fool Australia https://ift.tt/5xXWgV7