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3 FTSE Shares Hitting New Highs

Alan Oscroft
September 4, 2012

LONDON -- The FTSE 100  (INDEX: ^FTSE  ) has been sliding back further from its 52-week high of 5,989 points this week, slipping below the 5,700 mark to sit on 5,693 points at the time of writing. The thing holding it back this week is a sense of foreboding ahead of Thursday's crucial meeting of the European Central bank.

But even if the index of the U.K.'s blue chip shares is slipping back, there are plenty of individual companies in the various indexes that are rising strongly. Here are three that have hit new highs this week.

Telecommunications provider KCOM Group has long been a favorite of mine, and I was pleased to see it hit a new 52-week high of 79.6 pence today. The shares have been up and down this year, slipping back a bit during the summer, but they're now up 18% since their recent low at the beginning of June.

And they're still not expensive, with forecasts putting them on a forward price-to-earnings ratio of 10, with an expected dividend yield of 5.7%.

Oxford Instruments (LSE: OXIG.L  )
Oxford Instruments has stormed up more than 60% over the past 12 months, and it reached a new year's high of 1,340 pence today. The comp