The S&P/ASX 200 Index (ASX: XJO) is racing higher today and shares in these five market monoliths are along for the ride. The blue chip shares have each rocketed to new 52-week highs on Tuesday â soaring as much as 7% to get there.
Right now, the ASX 200 is up 1.26%, trading at 7,309.7 points.
Letâs take a closer look at the blue chips’ day in the green.
5 ASX 200 blue ship shares posting new 52-week highs
First off the bat is newly crowned takeover target Newcrest Mining Ltd (ASX: NCM).
The ASX 200 gold mining share hit a high of $30.28 earlier today â marking a 7% gain. Its upwards movement came on news its New York-listed peer Newmont has upped its acquisition offer.
The international mining company put a new all-scrip bid on the table, representing $32.87 per Newcrest share. That implies an enterprise value of $32 billion.
The bid proved enough to convince the ASX 200 company to grant its suitor due diligence.
Joining Newcrest in posting new 52-week highs were shares in ASX 200 blue-chip icons Wesfarmers Ltd (ASX: WES) and Telstra Group Ltd (ASX: TLS).
They reached respective peaks of $52.065 and $4.32 today â representing gains of 1.7% and 1.2%.
That was despite no word from either the retail conglomerate or the telecommunications staple.
Also making the most of the day is supply chain logistics stock Brambles Limited (ASX: BXB).
The $19 billion company saw its share price leap 1.6% to trade at $13.91. That’s the highest it’s been in 15 years.
The final ASX 200 blue chip share soaring to long-forgotten heights on Tuesday is market staple Washington H Soul Pattinson and Co Ltd (ASX: SOL).
Shares in the 120-year-old investing house leapt 3.3% to trade at a high of $31.99 today â a new 52-week high.
The post Blue chip beat-down: 5 huge ASX 200 shares cementing new 52-week highs today appeared first on The Motley Fool Australia.
FREE Guide for New Investors
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of April 3 2023
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Can the Telstra share price keep on rising?
- Why Arafura, Core Lithium, Mayne Pharma, and Newcrest shares are storming higher
- Newcrest share price jumps on new takeover offer
- Is Wesfarmers a good defensive ASX 200 stock to buy in the current climate?
- How much do you need to invest to give up work and live only off dividend income?
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 positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Telstra Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/b4kAqLm
Leave a Reply