2 ASX All Ordinaries shares that defied today’s sell-off to crack new highs

The Australian market is tumbling today following a poor session on Wall Street overnight, with the All Ordinaries Index (ASX: XAO) recording a 1.43% fall at the time of writing. But not all ASX All Ordinaries shares are suffering.

We’ve rounded up two that are not only outperforming today but have lifted to new all-time highs.

So, without further ado, let’s take a look at the ASX All Ordinaries shares that resisted the worst of today’s sell-off.

2 ASX All Ordinaries shares breaking records on Wednesday

Pilbara Minerals Ltd (ASX: PLS)

Stock in Pilbara Minerals is outperforming today. It rocketed to its highest point ever earlier today –reaching a high of $4.03 a share. That marked a 1.76% gain on its previous close.

It comes after JP Morgan analyst Lydon Fagan reportedly upped the broker’s price target for the ASX All Ordinaries share and its expectations for lithium prices earlier this week.

Pilbara Minerals’ stock is now tipped to lift to $4.10 – representing an upside of more than 4% on its current level, The Australian reported.

The company also reported its maiden profit just over a fortnight ago.

Sadly, the stock hasn’t held onto its gains. The Pilbara Minerals share price is currently trading at $3.935, 0.63% lower than its previous close.

Yancoal Australia Ltd (ASX: YAL)

The Yancoal share price also rocketed to a record high today. It struck $6.88 in early morning trade, representing a 2.5% gain.

The stock has been on the up and up lately, alongside many other ASX energy shares, amid news from Europe.

The Nord Stream 1 gas pipeline, which transports gas from Russia to Germany, was shut indefinitely over the weekend.

That will likely cause demand for coal and gas to soar as Europe’s winter approaches, thereby pushing up energy commodity prices.

Stock in the ASX All Ordinaries share has slipped into the red this afternoon. It’s currently trading at $6.67, 0.6% lower than its previous close.

The post 2 ASX All Ordinaries shares that defied today’s sell-off to crack new highs appeared first on The Motley Fool Australia.

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More reading

• Worst month of the year? The Pilbara Minerals share price has already hit 2 all-time highs in September
• Why did the Sayona Mining share price shoot 6% higher today?
• Here are the top 10 ASX 200 shares today
• Why Karoon Energy, Pilbara Minerals, PointsBet, and Whitehaven Coal are rising
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. 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 Scott Phillips.

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