3 FTSE Shares Hitting New Highs
Dec 7th 2012 12:38PM
Updated Dec 7th 2012 12:42PM
LONDON -- The FTSE 100 is once again closing in on its 52-week high of 5,989 points, having gained 13 points today to reach 5,914. The index of top U.K. stocks has come close to its high-water mark several times in recent months, only to fall back. But with no seriously bad news from the global economy expected next week, it might just finally beat it.
There are plenty of individual constituents of the various FTSE indexes reaching new heights each day, too. Here are three that are flying today.
Dixons Retail shares hit a new 52-week high today of 28 pence, taking the price up more than threefold since its January low point. It's been a remarkable recovery for the high-street retailer, which was struggling to adapt to the changing face of online retail and at one stage looked as if it might not make it.
But the City has strong earnings growth forecast for this year and next, though it'll be some time yet before there's a return to a meaningful dividend level.
Capital Shopping Centres
As further evidence of the U.K.'s retail recovery, Capital Shopping Centres Group is once again pressing its 52-week high of 354 pence, having reached 351 pence today. Although it has been a bit erratic, the price is up more than 20% from its year-low of 291 pence set in December last year.
Forecasts are pretty flat for the next two years, but there's a dividend of around 4.5% expected.
Lloyds Banking Group
Yes, the U.K.'s bailed-out banks are finally on the up, with Lloyds Banking Group shares up more than 80% over the past 12 months. In fact, the shares look set to end the day at their highest closing price of the year, standing at 46.7 pence at the time of writing.
Last year's massive loss is now behind Lloyds, and though it did record a first-half loss this year, the bank is expected to make a full-year pre-tax profit of around 1.5 billion pounds.
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