5 ASX 200 shares smashing new 52-week highs on Wednesday

Some of the market's most iconic stocks are peaking at long-forgotten heights today.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) peaked at a nine-month high on Wednesday, helped along by five shares hitting their own long-forgotten highs.

Right now, the index is up 0.28% at just under 7,500 points. That's less than 2% off the all-time high it set in August 2021.

Among the stocks rejoicing alongside the iconic index today are some of the market's most recognisable names. Let's take a look at their shiny new 52-week highs.

Group of medical professionals high five

Image source: Getty Images

5 ASX 200 shares soaring to long-forgotten highs

First off the bat is ASX 200 banking giant Commonwealth Bank of Australia (ASX: CBA). It hit another record high today, peaking at $110.81 – a 0.7% gain on its previous close.

Interestingly, there's been no news from the ASX's second largest company, commanding a market capitalisation of $185 billion.

However, its stock has now bested its previous 52-week high for four consecutive sessions.

Joining CBA shares in posting a new 12-month high are those of Rio Tinto Ltd (ASX: RIO). Stock in the iron ore giant rocketed 1.7% earlier today to a high of $128.78.

Investors might be snapping up Rio Tinto shares for the company's exposure to iron ore and copper, or its whopping dividend yield. Whatever the reason, it appears to be good news for the Rio Tinto share price.

And who could forget shares in ASX 200 travel giant Webjet Limited (ASX: WEB)? They launched 2.3% earlier today to reach $7 – the highest the stock has been since the onset of the COVID-19 pandemic.

That's despite only silence from the online travel agent. Indeed, the last time the market heard news from Webjet was back in November. And investors might have more time to wait.

The company isn't expecting to post its full-year earnings until May.

The Treasury Wine Estates Ltd (ASX: TWE) share price is also taking off today, peaking at $14.84 – a 2.2% gain on its previous close and another post-pandemic high.

The company has been tipped to benefit if tensions between Australia and China ease this year.

Finally, also posting a new 52-week high today is ASX 200 healthcare share Pro Medicus Limited (ASX: PME). It soared 1.4% to hit $67.80 shortly after the market opened today.

The stock has been on a roll in 2023, gaining 22% year to date amid news of contracts with Samaritan Health Service and the University of Washington.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Pro Medicus. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

Man smiling on top of rocks with mountains in the background.
52-Week Highs

What are brokers saying about these ASX shares hitting 52-week highs

Can these shares keep rising?

Read more »

Three climbers scramble up a rocky peak overlooking a vast snow covered mountain range with an icy blue sky beyond them.
52-Week Highs

What are experts saying about these red hot ASX 200 shares?

These stocks are soaring right now.

Read more »

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
52-Week Highs

Are these ASX stocks hitting 52-week highs a buy, hold, or sell?

Can these market winners keep rallying?

Read more »

A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today
52-Week Highs

3 ASX 200 titans charging to new one-year-plus highs today

Investors just sent these three ASX 200 titans surging to new 52-week-plus highs. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
52-Week Highs

Why this reliable ASX dividend stock just climbed to a fresh multi-year high

This ASX dividend stock just touched its highest level since 2023.

Read more »

green arrow rising from within a trolley.
Defensive Shares

Woolworths' $37 share price is near an all-time high, so why am I going to buy some as soon as possible?

Why I still see Woolworths shares as a buy despite trading near all-time highs.

Read more »

A kid and his grandad high five after a fun game of basketball.
52-Week Highs

Telstra just hit a 10-year high. Has this ASX income giant still got more to give?

Telstra’s breakout to a multi-year high is turning heads.

Read more »

Two friends giving each other a high five at the top pf a hill.
52-Week Highs

Are these ASX shares hitting 52-week highs still worth buying?

Is there any more upside for these stocks?

Read more »