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Anglo American and BAE Systems among those hitting 52-week highs

Published: 14:52 01 Mar 2022 GMT

Anglo American PLC -

The FTSE 100, in keeping with other indices, has been on the skids since the West upped the ante in its opposition to Russia’s invasion of Ukraine but that does not mean all blue-chips are suffering equally.

In fact, four FTSE 100 stocks are at 52-week highs. The four are: Anglo American PLC (LSE:AAL), BAE Systems PLC (LSE:BA.), National Grid PLC (LSE:NG.) and Avast PLC (LSE:AVST).

The latter is about to be taken over by US cybersecurity giant NortonLifeLock Inc, which explains its high share price.

BAE Systems is enjoying the so-called defence premium that is often evident when the world appears to be on the brink of a major war.

Anglo American, meanwhile, is riding high after a well-received set of results last week while National Grid has been on the up for four months now – a period that included its half-year results, in which the power company raised its full-year guidance.

On the cusp of hitting 52-week highs are Glencore PLC (LSE:GLEN), Bunzl PLC (LSE:BNZL), AstraZeneca PLC (LSE:AZN), Severn Trent PLC (LSE:SVT), Land Securities Group PLC (LSE:LAND), United Utilities PLC and SSE PLC (LSE:SSE). All are within 5% of their 52-week highs.

It probably has not escaped your notice that the above list contains a lot of utility companies, which suggests that income stocks are the new fashion, supplanting growth stocks, such as Ocado Group PLC (LSE:OCDO), which is trading 53% below its 52-week high.

Not surprisingly, stocks with strong Russian connections are way off their peaks. Polymetal International PLC (LSE:POLY) and Evraz PLC (LSE:EVR) are both close to 85% below their 52-week highs.

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