SLX, CNU, NEU: ASX All Ords shares which hit 52-week highs yesterday

2 min read | July 28, 2022 09:12 AM AEST | By Ashish

SLX, CNU, NEU: ASX All Ords shares which hit 52-week highs yesterday — Image source: © Herrbullermann | Megapixl.com

Highlights

The Australian share market ended on a positive note on Wednesday.

The ASX 200 advanced 23%, or 15.90 points to end at 6,823.20 points.

The ASX All Ordinaries index finished 0.18%, or90 points higher, to close at 7.038.10 points.

The Australian share market ended in the green on Wednesday, buoyed by gains in gold and the financials and healthcare sectors. While the benchmark ASX 200 index gained 0.23%, or 15.90 points, to end at 6,823.20 points, the ASX All Ordinaries index finished 0.18% or 12.90 points higher to close at 7.038.10 points. There were shares which hit their fresh 52-week highs on Wednesday, within the ASX All Ordinaries index.

On this note, let’s see why these three ASX All Ordinaries shares hit fresh 52-week highs on Wednesday.

Silex Systems Ltd (ASX:SLX)

Silex Systems focuses on commercialising its laser enrichment technology for the production of uranium. The share price of Silex System went past its 9-year high on Wednesday. The stock finally closed at AU$3.27, down 3.82%.

The share price is on the rise ever since the company released a price-sensitive news last Wednesday related to its Zero-Spin Silicon project. “A stage 3 demonstration plant has been constructed to verify the commercial production capability for the quantum computing material,” Silex said.

Chorus Ltd (ASX:CNU)

Chorus provides telecommunications infrastructure in New Zealand. The share price of Chorus traded at over a 52-week high of AU$7.16 on Wednesday despite no major price-sensitive news released by the company. Chorus' stock hit its highest price since March 2021.

The share of Chorus closed the day at AU$7.09, down 0.28%.

Meanwhile, Chorus last month trimmed its spending plans for FY22 on account of coronavirus-induced disruptions. The company now expects FY22 capital expenditure to be within a range of NZ$480 million to NZ$500 million.

Neuren Pharmaceuticals Ltd (ASX:NEU)

Neuren Pharmaceuticals develops drugs for multiple serous neurological disorders. The ASX All Ordinaries share hit a one-year-plus high on Wednesday. The stock rose despite the company releasing no price-sensitive news.

The share price hit as high as AU$5.25, the highest since November 2007. The shares closed the day at AU$5.11, up 36.27%.

Meanwhile, Neuren Pharmaceuticals last week informed the exchange that it had submitted a new drug application to the US Food and Drug Administration (FDA) for the treatment of Rett syndrome.

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