3 FTSE 100 Shares Hitting New Highs
LONDON -- It looks like the FTSE 100 is hitting new 52-weeks records almost every day, having broken the 6,100 barrier today before falling back slightly to finish at 6,099 points. That comes barely a week after the index of top U.K. stocks finally rose above 6,000 after months of coming close.
As the FTSE is reaching for the sky, so are a good few constituents of the various indexes. Here are three that are making it big.
Homebuilders have been doing well over the past year, and Redrow is no exception, closing at a new high of 172 pence yesterday. That takes the shares up nearly 50% over the past 12 months, with all of that gain coming since the summer.
Forecasts look pretty decent, too. Figures for June 2013 suggest a price-to-earnings ratio of more than 15, but that falls to 11 on 2014 expectations, with the dividend yield starting to creep back up again.
Moss Bros Group hit a new 52-week high of 66.5 pence today, taking the price up about 90% over the past year. Moss Bros has presented us with a nice recovery, turning several years of losses into a small pre-tax profit for the year ending January 2012, and it boosted that further at the interim stage this year. Forecasts for the next few years are increasingly positive.
The last of our three today, Dart Group, has seen its shares more than double over the past 12 months, hitting a new closing high of 130 pence yesterday -- and it's at that same level as I write today.
The aviation services and distribution group has steadily grown its revenue over the past few years and is on for a strong rise in profit this year. There's not much of a dividend on offer, but the shares are on a modest P/E of about seven.
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