2 ASX 200 stocks smashing new multi-year highs on Thursday

The S&P/ASX 200 Index (ASX: XJO) is having yet another top day on the markets so far this Thursday, extending what has been a very happy week indeed. At the time of writing, the ASX 200 has added another healthy 0.91%, dragging the Index back over 7,100 points. But some ASX 200 shares are doing even better than that today.

In fact, two prominent ASX 200 shares have just hit new 52-week highs. Let’s check them out.

A pair of ASX 200 shares hitting new 52-week highs today

Telstra Group Ltd (ASX: TLS)

First up is an ASX 200 share we’d all be familiar with in Telstra. This telco has had a decent Thursday so far, putting on an additional 0.36% at the time of writing to $4.22 a share. However, Telstra had an even better morning, rising as high as $4.24 a share.

That’s both a new 52-week high for Telstra shares and the highest the company has traded at since January 2022. At these levels, Telstra is pretty close to breaking a five-year high of $4.31 a share as well:

There hasn’t been much news out of Telstra of late that would easily explain why the shares are at these new highs today. But investors have seemed to be steadily boosting the Telstra share price ever since the telco upped its dividend in its half-year earnings last month. Further, ASX brokers seem to be showering this company with a love of late. My Fool colleague covered broker Morgans’ $4.70 share price target for Telstra just yesterday. 

So perhaps these factors have led Telstra to its new 52-week high this Thursday. Telstra shares are now up a pleasing 7% or so year to date.

Washington H. Soul Pattinson and Co Ltd (ASX: SOL)

Washington Soul Pattinson or Soul Patts for short, is next up. This stalwart investing house of the ASX 200 is also having a cracker of a day today. Soul Patts shares are currently up by a robust 0.85% at $29.80 a share. But the company traded as high as $29.99 this morning, which is the company’s new (and somewhat tantalising) 52-week high. It’s somewhat a shame it couldn’t get that extra cent, though, one could say.

These levels aren’t the highest Soul Patts shares have ever been. Back in September 2021, the company got pretty close to $40 a share but has since cooled off. Soul Patts shares got as low as $22.52 a share only last July, so it’s been a steep road back up for shareholders to enjoy:

So it’s a happy day for Soul Patts and its shareholders. This latest high for the company comes just over a week after we got to see Soul Patts’ latest earnings, so it’s pretty clear investors have been impressed. As we covered at the time, these saw Soul Patts report a 38.4% rise in profits and announce a 24.1% increase to its interim dividend.

Even though the markets had a rough week last week, the Soul Patts share price held firm. So it’s no surprise to see it vault higher now that the markets are in a much better mood.

The post 2 ASX 200 stocks smashing new multi-year highs on Thursday appeared first on The Motley Fool Australia.

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More reading

• Why did the Telstra share price just hit a multi-year high?
• $1,600 annual dividend income from a $20,000 ASX share portfolio? Here’s how
• 5 things to watch on the ASX 200 on Thursday
• To pause or not to pause? Here are the predictions on next week’s RBA rate decision
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has positions in Telstra Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Telstra Group and Washington H. Soul Pattinson and Company Limited. 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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