LONDON -- The FTSE 100
If bullishness in the general markets still looks a little cautious, investors are still pushing individual shares up to new highs every day. Here are three from the FTSE indexes that are scaling fresh heights today:
Dixons Retail is still powering on, hitting a new high of 21.9 pence in what is one of the best retail recoveries of recent years. The shares have more than doubled from their 52-week low of 9.1 pence.
City sentiment toward the share has improved, too, with forecasts suggesting earnings-per-share growth of around 25% this year, with close to 40% penciled in for next. There's little in the way of dividends expected yet, but with a PEG ratio of 0.6 for the year to April 2013, falling to 0.3 for 2014, the share is pretty much valued as a bet on fairly priced growth.
Supermarket J Sainsbury has had a cracking few months and has gained around 25% since June to hit a new peak of 357 pence. That would be a good ride for a small-cap growth share, but it's remarkable for a 7 billion pound FTSE 100 company!
Forecasts look pretty good, too, and even after the price rise, the forecast full-year dividend stands at 4.7%. Meanwhile, the P/E ratio looks to be 12.
It's interesting to compare Sainsbury with Tesco, which offers a similar yield of 4.8% with the shares on an even lower P/E of 9.5, but Tesco's shares are still languishing after their January slump.
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Prudential is also nudging its 52-week high, reaching 855 pence today for a rise of about 50% from its low point back in December. It really shows how much the financial sector is back in favor, with forecasters expecting a dividend of over 3% for the full year, rising to about 3.5% for 2013 -- and the payout should be very well-covered.
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Alan Oscroft does not own any shares mentioned in this article. The Motley Fool owns shares in Tesco. 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.