3 FTSE 100 Shares Hitting New Highs Today
LONDON -- The FTSE 100 came within a fraction of a point of its five-year high of 6,534 points this morning, but it looks like that record is more than safe for today: As of 10:10 a.m. EDT the index is down 0.87% to 6,473. Still, the Footsie is a long way up from its 52-week low of 5,230 and looking comfortably set to extend its run above 6,400 to nine days.
But which individual FTSE 100 companies are rising to new highs? Here are three that are flying and setting new 52-week peaks.
The share price of Tesco has been on a steady climb since last summer, reaching a new 52-week high of 387.5 pence this morning. Altogether, the shares are up 30% since their depths during June 2012 and up 26% since they were added to the Fool's Beginners' Portfolio in May 2012 at 305 pence per share.
Tesco's turnaround from its poor Christmas 2011 season appears to be bearing fruit, with the supermarket giant snapping up Giraffe restaurants this week. Forecasts for the year to February 2013 suggest a dividend yield of 3.9% and a P/E of 12.
Legal & General
While rivals RSA Insurance and Aviva have been slashing their payouts, Legal & General has lifted its full-year dividend by 20% -- and that helped the share price rally to a new 52-week record of 175.4 pence today.
These shares are now up 65% from their June low of 105 pence. And the climb has been accelerating, with a rise of more than 15% in the past month alone.
L&G's 2012 dividend yields about 4.7% on the day's price, while forecasts for the year to December suggest the payout will advance 7% to 8.2 pence per share.
Wolseley shares reached a new 52-week high of 3,340 pence this morning, though they've since dropped back to 3,320 pence.
The plumbing and heating systems merchant has seen its share price gain more than 30% during the past 12 months, putting the shares on a relatively lofty P/E of 18 based on forecasts for the year to July 2013. Estimates for 2014 drop that multiple to 15, but that's still slightly above the FTSE 100 average of about 14. First-quarter figures released in December revealed a 2.1% rise in like-for-like revenue and a 7.6% rise in trading profits. First-half results are due on March 26.
Finally, even if your shares aren't hitting new highs, dividends can add nicely to your investment returns: They can be spent or reinvested, according to your needs. Whether you're investing for income or growth, good old cash is always welcome. And that's why I recommend the brand-new Fool report "The Motley Fool's Top Income Share For 2013," in which our top analysts identify a share they believe will provide a handsome dividend income for years to come. But the report will be available for a limited period only, so click here to get your copy today.
The article 3 FTSE 100 Shares Hitting New Highs Today originally appeared on Fool.com.Alan Oscroft does not own any shares mentioned in this article. The Motley Fool owns shares in Tesco. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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