With the market closing in fast on a record high, a number of shares have been charging higher this month.
Some have performed so strongly they have just reached 52-week highs or betters. Three that achieved this feat are listed below, here's why they are flying high:
The Dicker Data Ltd (ASX: DDR) share price continued its positive run and hit an all-time high of $8.08 yesterday. The computer software and hardware distributor has caught the eye this year due to its solid profit growth and the launch of a new business unit. This, combined with heavy insider buying and the announcement of a special dividend, has underpinned its strong share price gain in 2019. When Dicker Data's shares reached their all-time high, it meant they had gained 185% since the start of the year.
The National Australia Bank Ltd (ASX: NAB) share price climbed to a 52-week high of $29.86 on Monday. When the banking giant's shares reached that level, it meant they had climbed an impressive 26% since the start of the year. NAB's recent gains appear to have been driven by improving investor sentiment in the banking sector thanks to positive signals emerging from the housing market. According to recent data provided by the Australian Bureau of Statistics, the value of new loans issued to households increased by a sizeable 3.9% to $32 billion in July. This was the biggest increase in almost five years and could be proof that the housing market downturn has come to an end.
The Treasury Wine Estates Ltd (ASX: TWE) share price reached a 52-week high of $19.47 yesterday. Investors have been buying the global wine giant's shares since the release of its full year results last month. Treasury Wine Estates posted a 17% increase in net sales revenue to $2,831.6 million and a 25% increase in EBITS to $662.7 million. The key driver of its EBITS growth was its Asia business which reported 43% EBITS growth to $293.5 million. Another positive was that management reiterated its reported EBITS growth guidance of approximately 15% to 20% for FY 2020.
