ASX 200 shares soared higher last week as the S&P/ASX 200 Index (ASX: XJO) continued its strong rebound.

It was a similar story overseas with the S&P 500 Index closing the week at 3,194 points – just 5.7% off its all-time high.

If coronavirus restrictions continue to ease and the economy hums back to life, could we see a new record high in June?

Will ASX 200 shares hit new record highs in June?

There have been a number of Aussie shares climbing higher in the last couple of months. The recent bear market seems like a distant memory as companies like Afterpay Ltd (ASX: APT) have roared back to life.

ASX bank shares have been another clear winner with the Commonwealth Bank of Australia (ASX: CBA) share price surging 32% higher since 23 March.

Australia has so far beaten many of its own ‘best case’ scenarios regarding the pandemic. That means we’re seeing businesses re-open, Aussie workers regain employment and the economic burden on the Federal Government start to ease.

Of course, there’s still a lot of work to do. I think there is more volatility for ASX 200 shares to come in the next few months but that doesn’t mean it’s not a good time to buy.

There’s a lot of cheap money flying around in the economy right now. Central banks have lowered interest rates and pumped money into the global economy.

CommBank and Afterpay haven’t been the only ones to cash in on the recent run. 

The A2 Milk Company Ltd (ASX: A2M) share price closed at $17.62 per share on Friday. I think the ASX 200 dairy share could charge towards its record high of $19.23 per share by the end of June.

Supermarket sales are strong and international sales could pick up again in the coming weeks. 

Foolish takeaway

There are a number of ASX 200 shares that are pushing higher in June. If the economy continues to pick up then we could see record highs before the end of the month.

More reading

• ASX 200 jumps 2.5%: Big four banks surge higher, CSL announces an acquisition
• 2 ASX 200 biotech shares to consider buying today
• 3 ASX 200 shares to watch this week
• Is the Webjet share price a cheap buy today?
• ASX 200 Weekly Wrap: ASX bulls crash through 6,000 points

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The S&P/ASX 200 Index (ASX: XJO) has returned from the long weekend in fantastic form. At lunch the benchmark index is up 2.5% to 6,146.6 points.

Here’s what is happening on the market today:

Big four banks surge higher.

The big four banks have been very strong performers on Tuesday and are helping to drive the ASX 200 index notably higher. At lunch all four banks are up no less than 5%. The best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price with an impressive gain of 6%.

CSL acquisition.

The CSL Limited (ASX: CSL) share price is trading lower today despite announcing a new acquisition. According to the release, the biotherapeutics company has agreed to exercise its right to acquire Vitaeris. It is a clinical-stage biotechnology company focused on the phase 3 development of a treatment for rejection in solid organ kidney transplant patients.

G8 Education rockets higher despite childcare changes.

The G8 Education Ltd (ASX: GEM) share price is rocketing higher on Tuesday. This is even after the Federal Government revealed plans to end its free childcare scheme and stop JobKeeper payments to childcare workers in July. This morning G8 Education revealed that it won’t be impacted negatively because of the way the government is structuring other support packages. Management notes that these support packages will put it in no worse a position relative to the prior support measures. This is even if occupancy levels were to deteriorate.

Best and worst performers.

The best performer on the ASX 200 on Tuesday has been the Credit Corp Group Limited (ASX: CCP) share price with a 15% gain. Investors may believe the debt collector’s shares were oversold during the pandemic. The worst performer has been the Gold Road Resources Ltd (ASX: GOR) share price with a 6.5% decline. This follows a pullback in the gold price over the last couple of trading days.

More reading

• CSL share price drops lower despite announcing a new acquisition
• The ANZ share price has soared 37% in 2 weeks. Here’s why.
• Will ASX 200 shares hit a record high in June?
• Why Bendigo and Adelaide Bank, BWP, G8 Education, & Westpac are zooming higher
• Why CSL, Elders, Evolution, & Xero shares are dropping lower

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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