3 FTSE 100 Shares Hitting New Highs: Aviva plc, Royal Bank of Scotland Group plc and Centrica PLC

Aviva plc (LON: AV), Royal Bank of Scotland Group plc (LON: RBS) and Centrica PLC (LON: CNA) are flying.

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The FTSE 100 (FTSEINDICES: ^FTSE) is on a roll today, picking up 92 points to reach 6,651 by mid-afternoon, after the US Federal Reserve elected to continue with its economic stimulus policies unchanged. The boost takes the index of top UK shares to within 225 of the 13-year record of 6,876 points set in May, and has opened a very nice gap of 1,045 points from its 52-week low of 5,606.

But which individual companies are lifting up the FTSE 100? Here are three that are soaring to new heights:

Aviva

Shares in Aviva (LSE: AV) (NYSE: AV.US) have been doing really well, and have put on 4.7p so far today to 419.3p — but earlier today they hit a 52-week high of 421.6p, taking them up 25% over the year. The firm’s first-half results released on 8 August looked pretty good, with the turnaround plan going well, and we saw a 5.6p per share interim dividend.

The dividend will be down for two years in a row, but there’s still a reasonable yield of 3.9% currently being forecast for this year. More importantly, the rebased payment should be very well covered and reliable, and the shares are on a low forward P/E of 9.5.

Royal Bank of Scotland

The sale of a chunk of Lloyds Banking Group has given both our bailed-out banks a boost, with Royal Bank of Scotland Group (LSE: RBS) shares reaching a 52-week high today of 374.4p — the price is down a bit as I write, to 368,5p, but it’s still up 35% over 12 months.

Forward valuations for this year are pretty meaningless at the moment, with the forecast return to profit putting the shares on a P/E of 20. But if the recovery continues, 2014 predictions suggest a P/E of a more modest 12. It’ll be a while before there’s a meaningful dividend again though, with a yield of just 0.5% forecast for next year.

Centrica

Energy supplier Centrica (LSE: CNA) is our third top-flight company to break new ground today, climbing to a 52-week high of 400.3p before dropping back a little to 399.8p. That takes the price up nearly 20% over the past year, which is pretty good for a share that is widely seen as an income investment.

I’ve already explained why I think Centrica’s reliability is great for novice investors who really don’t need any shocks, and I think it’s hard to argue with fundamentals like these — rising earnings and a steady dividend yield of around 4.5%, from shares on a very average P/E of 14.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

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

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