3 FTSE 100 Shares Hitting New Highs
LONDON -- The FTSE 100 soared above the 6,000 level yesterday, and it has stayed there today, having picked up another 20 points to reach 6,047. Markets generally seem to be buoyant, with some early suggestions of a decent final quarter of trading for 2012.
And just as the FTSE is reaching new record highs, so are a good few constituents of the various indexes. Here are three setting new records today:
ARM Holdings shares hit a new 52-week high of 798 pence. 2012 was a remarkable year for the ARM share price after a fairly flat 2011, and over the year the price gained 27% to 768 pence -- and in the first few days of 2013 we've already seen a further 3.3% rise.
What about valuation? That's always hard with a high-tech growth share, and ARM's shares are on a price-to-earnings ratio of 55, based on 2012 estimates, falling to 45 for next year. But the upside is that demand for mobile computing chips is still in its early days.
SABMiller is having a great time, too, with its shares hitting a new high of 2,892 pence today, taking them up 25% over the past 12 months. That extends a remarkable record: SABMiller shares have now beaten the FTSE All-Share index for 12 years in a row!
As well as brewing a whole host of popular beers like Grolsch, Peroni, and Miller Lite, SABMiller dominates its home market of South Africa and also operates as a Coca-Cola bottler. Will SAB manage to beat the FTSE again next year? After this year's outstanding performance, it will be no easy feat -- but I'm not betting against it.
The insurance sector has had a strong year, too, with RSA Insurance Group being a good example. Having gained about 15% over the past 12 months, with most of that climb happening at the tail end of the year, the shares are trading around their 52-week high of 128.5 pence.
Expectations for the full year to December 2012 look good, too, with City analysts forecasting a whopping 7.4% dividend yield. Results are expected Feb. 20.
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