2 ASX All Ords shares defying Tuesday’s slump to crack multi-year highs

Rocket going up above mountains, symbolising a record high.Rocket going up above mountains, symbolising a record high.

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.

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