The Thomas Cook (LSE: TCG) recovery continues, and BBA (LSE: BBA) soars to a new peak.
After another positive week last week, the FTSE 100 (UKX), at a level of 5,908, is just 81 points short of breaching its 52-week high of 5,989 set in March. The index has come very close a number of times over the past few months, but just one more good week might be all it needs to finally make it.
We have some impressive high-flyers among the individual constituents of the various FTSE indices, too. Here are three hitting new highs:
Thomas Cook Group (LSE: TCG) shares are soaring, putting on a further 10% today to hit another in a series of new 52-week highs, today reaching 39.7p. That represents a three-fold rise in the price since its 2012 low of 12.7p in February.
Thomas Cook's recovery has been impressive, after the firm barely managed to save itself by getting new banking facilities in the nick of time. After two years of big losses, the high-street travel firm is expected to be back in profit in the year to September 2013
BBA Aviation (LSE: BBA) has been climbing of late, and its shares reached a new 12-month high today of 224p, taking the price up a third from the year's low of 168p from back in January.
Forecasts suggest a small earnings fall for this year, with the shares on a price-to-earnings (P/E) ratio of 13, with a 4% dividend yield expected. For 2013 forecasts, that improves to 12 and 4.2% respectively.
Delcam (LSE: DCL) shares are up 65% since a year ago, having hit a new high of 888p today. The AIM-listed company, which develops advanced CAD/CAM software for the manufacturing industry, has come through a few flat years to post nice growth in earnings for 2010 and 2011, and there is further growth forecast by the City for this year and next.
The shares are on a slightly toppy P/E of over 17 for this year, falling to 16 for next year, but compared to the prices that growth shares reach during better economic times, today's price might still turn out to be a bargain.
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> Alan does not own any shares mentioned in this article.