Although the S&P/ASX 200 Index (ASX: XJO) has fallen heavily this year because of the coronavirus outbreak, not all shares on the index have tumbled with it.
Three ASX 200 shares that have managed to carve out solid gains year to date are listed below. Here's why they are flying high:
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price has stormed 19% higher in 2020. Investors have been buying the healthcare company's shares after revealed that it has been experiencing stronger than expected demand for its Homecare and Hospital products in China due partly to the coronavirus. This led to management upgrading its guidance for FY 2019 once again. Investors may believe that the global spread of the virus will lead to increasing demand in other key markets.
The Elders Ltd (ASX: ELD) share price is up an impressive 17.5% since the start of the year. This is despite there being no news out of the agribusiness company since January. However, it looks as though improving weather conditions are supporting Elders' shares. The company was facing very tough trading conditions in 2019 due to the droughts and bushfires, but these conditions have now eased. This could leave Elders and its recently acquired AIRR business well-positioned for solid growth in 2020.
The Costa Group Holdings Ltd (ASX: CGC) share price isn't far behind with a 17.4% gain in 2020. The catalyst for this gain was the release of Costa's full year result last month which was in line with expectations. Another positive was that the horticulture company has reaffirmed its guidance for calendar year 2020. It also noted that pricing levels have been improving across most categories since the turn of the year. This appears to have spooked short sellers and led to many closing positions, supporting the buy side.
