The S&P/ASX 200 Index (INDEXASX: XJO) has kicked off the new decade by surging to a new record high.
Some of the big factors driving the ASX 200 higher are economic optimism and more certainty around macro issues such as Brexit and the US–China trade war.
However, along the way the benchmark Aussie index has seen a few constituents also reach new record highs.
Check out some of the biggest names that are climbing higher ahead of the February reporting season.
1. CSL Limited (ASX: CSL) Certainly the biggest name in terms of market capitalisation, the CSL share price just isn’t slowing down.
The ASX 200 healthcare stock hit a new record high on Tuesday morning but remains just short of the elusive $300 per share barrier.
2. Macquarie Group Ltd (ASX: MQG) While the Big Four bank share prices have been under pressure in recent years, Macquarie shares keep climbing higher.
The Macquarie share price surged 187.19% over the last decade and is up 2.66% to start the year.
The ASX 200 banking stock hit a record high of $141.59 prior to yesterday’s close to continue streaking ahead of its Big Four rivals on the ASX.
3. Sonic Healthcare Limited (ASX: SHL) Sonic Healthcare is one ASX 200 healthcare group that has flown under the radar this year.
While CSL has stolen the headlines, the Sonic Healthcare share price has quietly gained 6.68% in 2020.
That includes hitting a new record high of $30.76 in yesterday’s trade as Sonic shares surge ahead of reporting season.
4. Xero Limited (ASX: XRO) While much of the attention amongst the WAAAX tech stocks in 2019 was on the likes of WiseTech Global Ltd (ASX: WTC) or Afterpay Ltd (ASX: APT), Xero was a real outperformer.
The Xero share price is up 96.93% in the last 12 months and the ASX 200 tech stock hit a record high of $84.70 yesterday.
The big test will be the group’s February earnings given the astonishingly high price-to-earnings ratio the Xero share price currently trades at.
5. Beach Energy Ltd (ASX: BPT) While 2019 was difficult for a number of ASX 200 energy stocks, that wasn’t the case for Beach.
The ASX 200 oil and gas explorer’s share price is up 70.12% in the last year on the way to a new record high of $2.79 at yesterday’s close.
High east coast gas prices have been a big contributor as investors wait and see what the growth forecast looks like from Beach’s half-year results in February.
The post Why these 5 ASX 200 shares hit record highs this week appeared first on Motley Fool Australia.
Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of WiseTech Global and Xero. The Motley Fool Australia has recommended Sonic Healthcare Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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