It’s been a pretty dire day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) this Tuesday. At the time of writing, the ASX 200 has lost a nasty 1.02% and is well back below 7,000 points.
But a falling tide doesn’t always lower all boats. In fact, three ASX 200 shares have comprehensively defied the market to post new, multi-year highs today. Let’s check ’em out.
Three ASX 200 shares hitting new highs on Tuesday
Medibank Private Ltd (ASX: MPL)
ASX 200 healthcare share Medibank is our first tall poppy to take a look at this Tuesday. The health insurer has taken a turn for the worse this afternoon, and is now back in red territory, down 0.27% at $3.70 a share. However, earlier today had Medibank rise as high as $3.74 a share.
Not only is this a new 52-week high for the company, but it’s the highest Medibank shares have traded at since at least mid-2019. Investors seem to have liked what Medibank delivered in its FY22 earnings report last week.
Whitehaven Coal Ltd (ASX: WHC)
Next up is ASX 200 coal miner Whitehaven. Like Medibank, Whitehaven shares have done a good job at bucking the market today. Whitehaven shares are presently going for $7.73, up 2.52%. But the miner climbed as high as $7.81 a share this afternoon.
Yes, that is Whitehaven’s new 52-week high. But it also appears to be a record high for the company. The last time Whitehaven shares were even in this kind of range was way back in 2011. As my Fool colleague Bernd looked at yesterday, these share price highs have largely been fuelled by record coal prices.
New Hope Corporation Limited (ASX: NHC)
Another ASX 200 coal miner in New Hope Corporation is our final share to check out this Tuesday. Like Whitehaven, New Hope shares are burning hot today. The miner is presently trading at $5.12 a share. But this afternoon saw it rise as high as $5.17, the company’s new 52-week high.
This is not a record high for New Hope. But you have to go back to 2011 to find a higher share price. As one might expect, the same coal-price tailwinds driving Whitehaven are also at play with New Hope.
The post 3 ASX 200 shares breaking multi-year highs on Tuesday appeared first on The Motley Fool Australia.
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More reading
- Why did the Medibank share price just crack a new all-time high?
- Why has the Chalice Mining share price dived 13% in the past week?
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
- Why is the Allkem share price acing it on Tuesday?
- Why is Lake Resources underperforming other ASX 200 lithium shares right now?
Motley Fool contributor Sebastian Bowen 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 Scott Phillips.
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