Wednesday, June 12, 2013

3 FTSE Shares Hitting New Highs

LONDON -- With the FTSE 100 (FTSEINDICES: ^FTSE  ) having spent the last two weeks steadily falling from the 13-year high of 6,876 points it set on May 22, we might be forgiven for thinking there would be no new records set by any of our big companies anytime soon. But even though the index has now fallen 446 points (6.5%) from its peak to 6,430 points as I write, we are indeed still seeing some companies reaching new heights.

Here are three from the various indexes that have set 52-week records this week.

ASOS (LSE: ASC  )
Shares in online fashion supremo ASOS reached a 12-month high of 4,025 pence on Tuesday, lifting them by about 140% over the past 12 months. In the couple of days since, the price has dropped to 3,817 pence, but that's still a remarkable performance over the year.

Despite a fall in earnings per share last year after several years of double-digit rises, there's a return to earnings growth forecast for the year to August 2013, with a rise of about 60% predicted. But based on the current share price, that puts the shares on a P/E of a rather heady 80!

Kingfisher (LSE: KGF  )
Kingfisher, the owner of the U.K.'s B&Q and Screwfix brands, is perhaps not the kind of company we might consider a highflyer. But the shares have gained nearly 30% over 12 months to reach a high of 354.5 pence on Tuesday before slipping back a bit to today's 341 pence.

With a 6% rise in EPS forecast for the year to January 2014, Kingfisher shares are on a less stratospheric forward P/E than ASOS of just 14.5, which is close to the FTSE long-term average of about 14. There's also a dividend yield forecast of about 3%.

IG Group (LSE: IGG  )
Volatile markets are good for firms like IG Group Holdings, the financial-markets bookmaker, and it shows. The share price is up 35% over the past 12 months to a new peak on Tuesday of 605 pence -- and today it's not far behind that, on 591 pence.

Third-quarter figures released on March 12 were solid, with revenue growing 18% and ahead in all regions -- U.K. revenue was up 15%, with Europe providing growth of 22%. The firm did offer a caution that "a degree of uncertainty exists around consumer sentiment more broadly." We should have our next update on June 11 and full-year results on July 23.

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