3 ASX All Ords shares defying today’s slump with new 52-week highs

The Australian share market is following the US lead today… down, down, down.

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S&P/ASX All Ordinaries Index (ASX: XAO) shares are in the red today, down 0.55% to 7,527 points.

The Australian share market is following the US lead today. The Dow Jones Index (INDEXDJX: .DJI) dropped by 348 points or 0.98% overnight in its worst session since May, according to CNBC.

This follows stronger-than-expected jobs data and Fitch’s credit rating downgrade for the US economy from AAA to AA++ due to high debt and “the expected fiscal deterioration over the next three years”.

However, these three ASX All Ords shares are going their own way today.

And cracking 52-week highs while they’re at it.

Let’s review today’s high flyers.

Which ASX All Ords shares are peaking today?

Temple & Webster Group Ltd (ASX: TPW)

ASX All Ords retail share Temple and Webster reached a new 52-week high of $6.85 today. It’s up by 46% in the year to date, which is pretty impressive given the obvious headwinds of inflation and interest rates for retail.

It appears the pro traders don’t think the current share price level can be maintained, though. Temple and Webster shares are among the top 10 most shorted stocks with 7% of the capital shorted.

News Corporation Class B Voting CDI (ASX: NWS)

This ASX All Ords communications share has smashed a new 52-week high of $30.75 today. There’s been no price-sensitive news out of News Corp since 15 May.

News Corp is the publisher of The Australian and The Daily Telegraph newspapers in Australia. We recently reported that News Corp CEO Robert Thomson was among the highest-paid ASX 200 CEOS of FY22, with a staggering annual income of $35.13 million.

FINEOS Corporation Holdings PLC (ASX: FCL)

Software solutions company Fineos hit a 52-week high of $2.73 today. The ASX All Ords tech share is up 67.5% in the year to date.

Fineos released its June quarter update on 28 July, revealing an 11.2% decline in cash receipts compared to June FY22, and a cash balance of 25.5 million euros with no debt.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended FINEOS Corporation and Temple & Webster Group. 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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