LONDON -- The FTSE 100 achieved yet another 52-week high today, gaining 43 points to hit 6,090. The excitement over the U.S. fiscal-cliff deal has clearly not been dampened by fears that the U.S. Federal Reserve's "quantitative easing" program is nearing its end.
As the FTSE is reaching for the sky, so are a good few constituents of the various indexes. Here are three, including a couple of FTSE 100 giants, that are at or near record highs.
Today, SSE beat its previous 52-week closing high of 1461 pence, rising 1.1% to hit 1,466 pence. But the energy supplier still doesn't look excessively expensive, with current forecasts for the year to March putting the shares on a price-to-earnings ratio of 13, with a very nice 5.9% dividend yield expected.
The share price itself is up almost 50% since the recession bottom, and there aren't many investments that can provide such levels of combined growth and income.
Shares in BT Group narrowly beat their previous year-high of 242 pence, creeping up 1.9% to 242.8 pence. The price has done well to rise nearly 25% over the past year. After the telecom giant saw its shares slide prior to the recession due to problems like its pension fund deficit, the price has gone on to recover well and has more than tripled since March 2009.
Forecasts suggest a dividend yield of 4%, which might not be as good as SSE's, but the superior share price growth has made BT a nice investment over the past few years.
The Enterprise Inns share price recovery has been pretty impressive this year, with the 52-week high of 106 pence meaning it has four-bagged over the past 12 months. Of course, today's closing price of 104 pence is a long way from pre-recession levels, but that really won't matter to anyone who bought in a year ago.
Forecasts for September 2013 put the shares on a P/E ratio of only 5.2, but there is a lot of debt on the books.
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