The S&P ASX 100 Index (ASX: ^XTO) hit a new 52-week of 4,574 on 10 April. The Aussie dollar retreated slightly from 94 cents to the US$, but is still trending up. Rather than settling down below 90 cents as the RBA hoped for, it is on its way towards parity. This should keep downward pressure on interest rates while the economy is improving.
Here are four companies in the ASX 100 Index that hit new 52-week highs in the past week.
Woolworths Limited (ASX: WOW) hit a new all-time high of $37.23. The supermarket and general merchandise retailer had a 13.4% rise in interim net profit. In March it announced it would be opening 108 new stores amongst its range of supermarkets, Big W, Masters, BWS, Dan Murphy's and Home Timber and Hardware chains. Shares last closed at $37.09.
Lend Lease Group (ASX: LLC), the infrastructure and property developer, set a new high at $12.98. Over the past six months the share price has risen about 20%. Growing housing construction together with new infrastructure contracts are driving the share price. The company plans further growth into the US market also. Last closing price was $12.92
SP Ausnet (ASX: SPN) announced in late March that it would be ending its management agreement with Singapore Power, its largest shareholder, before the expiry in 2015. The diversified energy infrastructure company will pay a termination fee of $50 million, but some analyst estimates are that it may save about $10 million annually in management costs. It hit a new high of $1.35 and ended the week at $1.35.
Alumina Limited (ASX: AWC) is a company that has a 40% stake in Alcoa World Alumina and Chemicals (AWAC), a subsidiary of the U.S. aluminium company Alcoa (NYSE: AA). It set a new high of $1.38 following the release of Alcoa's first quarter results that showed a strong lift in operating income. The stock has been rising from a $0.94 low in November last year. The shares last closed at $1.37.
Foolish takeaway
Of these four, I prefer Woolworths because it has a strong history of revenue and earnings growth and is a business that investors can more easily understand since they regularly shop at its stores. The long-term potential is still appealing.
