3 FTSE Shares Hitting New Highs

Published in Investing on 20 November 2012

Prudential (LSE: PRU), TalkTalk (LSE: TALK) and Mothercare (LSE: MTC) are soaring.

A month or so ago, the FTSE 100 (UKX) was looking like it might beat its 52-week high of 5,989 points soon. But since then we've seen US markets fall on profitability fears, and Europe hit by the news that the eurozone is once again in recession. A new record level is looking increasingly further away.

Still, individual constituents of the various FTSE indices are reaching new levels every day. Here are three that have been flying of late:

Prudential

Shares in Prudential (LSE: PRU) are hitting new heights today, up 15.5p to 886p as I write, and heading for their highest closing price of the year. As the financial sector recovers from the events of the credit crunch, Prudential is doing well, with its shares now up 60% from a 52-week low of 555p set almost exactly a year ago.

And current forecasts for the year to December don't look too stretching, putting the shares on a price-to-earnings (P/E) ratio of 13, with a dividend yield of 3.2% expected.

TalkTalk

Telecoms operator TalkTalk (LSE: TALK) has been having a pretty good time, with interim results on 13 November pushing the share price up to a 52-week high of 221p -- and that's a rise of over 80% from the shares' low point of 119p in February. The price has stayed up at that level, too, and today is just a few pence down on 218p.

The company is still expected to record a small fall in earnings this year, but at the time of those interim results we were told that we should expect a to return to "year-on-year revenue growth" in 2013.

Mothercare

Those who specialise in recovery stories should love Mothercare (LSE: MTC), which has seen its share price shoot up by more than 120% over the past 12 months. Today, the price -- at 300p -- sits just a penny short of its 52-week closing high of 301p set last month.

At the interim report stage in October, we were told that the board's strategy was "showing early signs of progress", and City analysts are forecasting a quick return to significant profits.

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> Alan does not own any shares mentioned in this article.

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