This Tuesday has not been a pleasant one for the All Ordinaries Index (ASX: XAO) and most ASX All Ords shares. At the time of writing, the All Ords is down by 0.24% at just over 7,450 points. But not all All Ords shares are copping punishment today. 

In fact, two such shares have defied the broader market to crack both new 52-week and multi-year highs. Let’s check ’em out.

2 ASX All Ords shares that just hit new multi-year highs today

Worley Ltd (ASX: WOR)

All Ords engineering services share Worley is first up today. Worley shares closed at $16.01 each yesterday, but have climbed as high as $16.26 during this trading session. The company is currently sitting at $16.21 a share, up a healthy 1.25%. 

Not only is $16.26 a new 52-week high for Worley, but it is also the highest the company has been since early 2020. Yes, we have a new, post-COVID high here folks. The Worley share price has had a fairly decent year in 2023 so far, now up around 9.5%. 

Today’s new hires might be a consequence of the business update the company provided this morning as part of an investor day presentation. This informed investors that Worley’s sales pipeline was up 36% year to date, as of 31 March, while bookings were sitting at $9.6 billion. That’s up from $7.5 billion at the same time last year.

Peet Limited (ASX: PPC)

Next, let’s talk about ASX All Ords real estate development company Peet. The Peet share price is also on fire today, currently up an eye-watering 7.63% at $1.27 a share. That’s bang on the company’s new 52-week high, which is also the highest level Peet shares have been at since early 2021:

It puts this All Ords share up an impressive 15.45% in 2023 so far, as well as 17.6% higher over the past 12 months.

This sharp rise today (as well as the new multi-year high) is a bit of a mystery though. There hasn’t been any ASX news out of this All Ords share for almost a month. Yet investors seem to be in new, unconditional love, with the Peet share price appreciating more than 14% over the past month, despite the lack of news.

 

The post 2 ASX All Ords shares defying Tuesday’s slump to crack multi-year highs appeared first on The Motley Fool Australia.

(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

• What’s with ASX 200 lithium stocks today?
• How I’d try to turn a $20k ASX share portfolio into a second income of $6,000 a year
• Guess which ASX mining stock is booming 126% on a new lithium discovery
• No savings at 40? Here’s how I’d aim to build a passive income of $3,000 a month
• 3 ASX lithium shares to buy right now: Wilsons

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.

from The Motley Fool Australia https://ift.tt/OWwANzl

• Stock Market