YAL, VEA: These ASX All Ordinaries shares hit multi-year highs yesterday

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YAL, VEA: These ASX All Ordinaries shares hit multi-year highs yesterday

YAL, VEA, AMC: Why these ASX All Ordinaries shares hit multi-year highs yesterday
Image source: © Robynmac | Megapixl.com

Highlights

  • The ASX 200 ended 25% higher at 7,093 points on Monday.

  • The ASX All Ordinaries was also up 0.25% on the day.

  • There are a few notable ASX-listed shares which have continued to perform on a decent note in the recent past.

The Australian share market started the week on a positive note on Monday and ended 0.25% higher at 7,093 points. The ASX All Ordinaries was also up 0.25% on the day, with several shares eclipsing their multi-year highs. This happened despite ongoing COVID-19 curbs in China, while downbeat global economic data continued to dampen investor sentiment, rekindling recession woes.

There are a few notable ASX-listed shares which have continued to perform on a decent note in the recent past, while the broader market registered losses. Investors would be closely tracking amid the ongoing stock market uncertainty.

On this note, let’s discuss why these three ASX All Ordinaries shares have hit their respective multi-year highs on Monday:

Yancoal Australia Ltd (ASX:YAL)

Yancoal Australia is a pure-play coal producer, which is into the production of metallurgical and thermal coal required for the usage in the steel and power generation industries.

The energy stock hit a multi-year high of AU$5.82 on Monday and closed at AU$5.57, down 0.89% from the previous close of AU$5.62. The stock is up nearly 100% on a year-to-date (YTD) basis.

The coal shares have surged in the past few months on account of rise in coal prices to multi-year highs. The coal price has soared nearly 300% in the last 12 months.

Viva Energy Group Ltd (ASX:VEA)

Viva Energy is an Australian company that owns the Geelong Oil Refinery and retails Shell-branded fuels across Australia.

The energy stock hit a multi-year high of AU$2.90 on Monday and closed unchanged at AU$2.83. The stock is up nearly 21% on a YTD basis.

The stock has gained as the company reported strong refining and financial performance for the four months ending 30 April 2022. Viva Energy reported a 65% (Y-O-Y) rise in its earnings before interest, tax, depreciation and amortisation (EBITDA) to AU$308 million.

Amcor (ASX:AMC)

Amcor is a global packaging company, which develops and produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products.

The stock hit a multi-year high of AU$18.51 on Monday and closed at AU$18.47, up 0.76% from the previous close of AU$18.33. The stock is up over 11% on a YTD basis.

The stock has risen despite no major price-sensitive news from the ASX-listed company.

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