The FTSE 100 (FTSEINDICES: ^FTSE) put its six-week losing spree behind it last week, recovering 166 points to 6,606, in a move that surprised some observers. It was the week in which the US Federal Reserve finally confirmed it is cutting back its stimulus measures, by slicing $10bn a month off its bond-buying, but it did give us a commitment to maintaining low interest rates.
Quite a few individual shares did well last week too. Here are three from the FTSE indices having a good time:
Ocado
The turnaround at Ocado Group (LSE: OCDO) is still going strong, as the online supermarket recorded a 36.2p (8.8%) rise to end the week at 447.5p — and today the price is up a further 4.5p to 452p. Ocado shares have now more than five-bagged over the past 12 months, but they have been even higher — the price soared as high as 469p in early October.
While the year’s performance will no doubt have thrilled shareholders, it’s very difficult to put any kind of valuation on the shares right now as there’s no profit expected until the year ending November 2014. And then it’s forecast to be only small, suggesting a P/E of 170. The first-half stage will be closely watched.
Carnival
Cruise operator Carnival (LSE: CCL) (NYSE: CCL.US) appears to be recovering from the Costa Concordia disaster, with its brand slowly being rehabilitated.
Fourth-quarter results this week showed a 2.1% fall in revenue in Q4, but that was better than expected, and full-year revenue is expected to be only “slightly down” on last year.
The share price responded with a gain over the week of 225p (10.4%) to 2,389p. Carnival was looking like heading for a losing 2013, but its shares are now just above the break-even point over 12 months.
Supergroup
Supergroup (LSE: SGP), owner of the Superdry fashion brand, has had a terrific 2013 with its share price having climbed nearly 150% — but it still hasn’t regained the exuberant peaks of 2011.
Last week we saw a rise of 119p (9.3%) to 1,399p, continuing the momentum following first-half results released on 12 December. Revenue was up 21%, with underlying pre-tax profit up 22% and underlying earnings per share up 28%.