LONDON -- The FTSE 100 (INDEX: ^FTSE ) is once again approaching its 52-week high of 5,989, gaining 30 points today to reach 5,900 -- just 89 to go! Of course, the absolute value of the index is meaningless, but it is good to see the market moving upward as we really start to climb out of the recession.
And even if the FTSE 100 hasn't managed to reach a new high just yet, individual constituents of the various FTSE indexes are achieving that very feat all the time. Here are three names that are pushing new 52-week peaks today.
Enterprise Inns (LSE: ETI.L )
Enterprise Inns gained 4% today to hit a new 52-week high of 76.25 pence, although at the time of writing the price has dropped back a fraction to 75.5 pence. The shares have done remarkably well this year, having almost tripled from their January low point of 26.5 pence.
Although there is no resumption of dividends expected after they were canned in 2010, City forecasts put the shares on a P/E for the year to September of just 3.5. While August's interim update looked positive, the pub group still has significant debts, though they are declining.
Persimmon (LSE: PSN.L )
Homebuilder Persimmon has reversed its recent dip and has been heading back toward its year-high of 790 pence, though the price is down a few pennies today at 782 pence. This is particularly pleasing for me, as I added the company to the Fool's Beginners' Portfolio back in July when the share was priced at 618 pence. Back then, I believed firmly that all of our major homebuilders' share prices were lagging the sector's long-term value.
Since then, the Beginners' Portfolio has enjoyed a 27% rise from Persimmon, with similar gains across the sector, and the firm is expected to be again paying a dividend -- about 6% -- in 2013.
The homebuilding business is one that has been recovering nicely, and spotting such undervaluations is one of the ways to make your first million from shares. This Motley Fool report takes a look at achieving that feat, so click here to get your copy while it's still free and available.
Sports Direct (LSE: SPD.L )
The sports retail sector has been polarized over the past few years, with JJB Sports sadly going into administration. But at the other end of the success scale, Sports Direct International has just hit a new 52-week high of 401 pence, taking the shares up nearly 90% from their year-low of 215 pence set in January -- and they've more than 12-bagged since the end of 2008.
There's not much of a dividend on offer yet from Sports Direct, but it's starting to creep up.
But if you're looking for dividend rather than growth, the Motley Fool report "8 Shares Held By Britain's Super Investor" which looks at the holdings of ace dividend investor Neil Woodford, is well worth a read. Click here to get your free copy, while it's still available.
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