It has been a good time for shareholders of ASX 200 blue-chip shares today.
That's because no less than three blue-chip giants have climbed to 52-week highs during today's session.
Three that have achieved this milestone are listed below. Here's what's happening:
Image source: Getty Images
QBE Insurance Group Ltd (ASX: QBE)
The QBE share price hit a 52-week high of $15.97 today. Investors have been scrambling to buy QBE and other ASX 200 insurance shares this year thanks to strong premium growth. This is being underpinned by material price increases and is expected to support strong earnings and big dividends in the near term.
The QBE share price has now risen by an impressive 35% since this time last year.
Telstra Group Ltd (ASX: TLS)
The Telstra share price climbed to a 52-week high of $4.46 on Wednesday. Investors have been buying this telco giant's shares for a number of reasons this year. This includes rational competition, its positive exposure to inflation, and defensive qualities. News today that its proposed agreement with TPG Telecom Ltd (ASX: TPG) has been blocked hasn't dampened investor spirit. In fact, some may see it as a positive for Telstra's business.
This ASX 200 blue chip is now up 16% over the last 12 months.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price reached a 52-week high of $40.32 today. Once again, investors appear to have been attracted to this ASX 200 blue chip share due to its defensive qualities and positive exposure to inflation. It is also worth noting that on Monday, UBS upgraded the company's shares to a buy rating with a $43 price target. It believes Woolworths is well-positioned to grow its market share.
This latest gain means that Woolworths' shares are now up almost 19% since this time last year.
