3 FTSE Shares Hitting New Highs Today

LONDON -- After yesterday's strong support for the euro from the European Central Bank, the FTSE 100 (INDEX: ^FTSE  ) today started moving back in the direction of its previous 52-week high of 5,989, rising to hit 5,790 at the time of writing for an overall gain of 79 points (1.4%) on the week so far.

And it's been a great week for individual FTSE index constituents, too, with new highs being regularly achieved. Here are three companies that accomplished the feat today:

Moneysupermarket (LSE: MONY.L  )
Moneysupermarket.com has had a strong, if intermittent, 12 months, but its shares have powered up since May, hitting a new 52-week high of 147 pence today. The acquisition of MoneySavingExpert, announced in August, gave the shares a big boost, and they're now up nearly 30% over last year.

Forecasts put the shares on a relatively high price to earnings ratio of 18 for the full year to December, but that falls to 15 on 2013 expectations, and there's an expected dividend of 3.8%, rising to 4.4% for next year.

ASOS (LSE: ASC.L  )
Online fashion retailer ASOS is back to its old ways, hitting new highs once again. The shares are still far short of the peaks reached in mid-2011, but at 1,973 pence (and having hit a new high of 1,995 pence earlier in the day), they're up nearly 75% from their 12-month low set in December.

July's trading statement showed overall sales up 31%, and after the company changed its year-end, we're due a further update on Sept. 18 for the three months to August. The firm's latest figures were good, but they need to be, with forecasts putting the shares on a forward P/E of a rather heady 40 -- nearly three times the long-term FTSE average of around 14.

Legal & General (LSE: LGEN.L  )
In a further sign of the strengthening recovery in the financial sector, Legal & General matched its 52-week high of 135 pence today. The shares had previously reached the same level back in March before falling back to 106 pence by the end of May.

However, the insurer's half-year report on Aug. 7 was positive, showing a 14% rise in earnings per share and an 18% boost to the firm's interim dividend. Expectations for the second half put the shares on a year-end P/E of only 9.5, with a forecast dividend of 5.8%, and 2013 forecasts see those figures moving to nine and 6.3%, respectively. The shares are on a high, but they might still be cheap.

Finally, if you want to find more dividend-paying shares such as Legal & General, have a look at the free Motley Fool report "8 Shares Held By Britain's Super Investor," which takes a look at some of ace investor Neil Woodford's major holdings. Click here to enjoy your free copy while it's still free and available.

And if you're looking for riches from the oil and gas industry, try the new Motley Fool report "How To Unearth Great Oil & Gas Shares." It's free, so click here for your personal copy.

Further Motley Fool investment opportunities:

Alan Oscroft does not own any shares mentioned in this article. 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.


Read/Post Comments (0) | Recommend This Article (5)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2009786, ~/Articles/ArticleHandler.aspx, 10/2/2014 7:01:11 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement