Taylor Wimpey Share News (TW.)

Discount clothing brand Primark has been the main engine behind the rise in shares of Associated British Foods. However, as the unit's rapid rate of growth in both profits and revenues has slowed down so too the company's stock has fast become overvalued. Over the last five years the shares have risen by more than 250% and indications that the price of sugar might be stabilising lifted them by an additional 2.1% on Thursday.Since 2011 the firm's profits have more than doubled to hit £662m last year. In fact, pre-tax profits from the fashion unit made up more than half of the group's total in 2014. Nonetheless, the growth rate in sales has eased from a 22% clip in 2013 to 16% last year. During that same time-frame, profit growth has gone from 44% to 29%. On the plus side of things, the company's balance sheet is looking solid. Even so, trading on 29 times' forecast pre-tax profit the stock is beginning to look quite expensive. Sell, says The Daily Telegraph's Questor column.Unlike 2008, when oil prices last registered a sharp decline, this time around the British economy is expanding and wages are rising. In parallel, consumer prices are low and likely to remain so. That means consumers stand to benefit more while the next increase in interest rates will likely be pushed into the long grass again. The latter, combined with the fact that there is a low limit on how much one can invest in the new pension bonds - which offer a taxed rate of 4% - means investors will be pushed towards yield stocks.While they already did well last year, there are still many companies's shares offeriing returns ranging from 4% to 5% along with secure prospects. Jupiter Fund Management is one of these, alongside the likes of Ashmore Group. Among the housebuilders Taylor Wimpey is one of the better options, although the sector's glory days may be behind it. Vodafone is another reliable dividend payer and its stock offers good upside prospects. In the utilities patch, National Grid is still good, while Imperial Tobacco continues to be the best in its space. Consumer stocks should also benefit although those looking for exposure to increased spending should stick to general retailers, leisure stocks and the better pubco operators. Amongst those, Debenhams still looks attractive while Marston's is the safest play in its sector. Marks&Spencer is a safe option too, trading as it does on a reasonable multiple and with a sub-4% yield. The only caveat to all of the above is that should spending increase then inflation could eventually take off again, but that is a worry for another day, says The Times's Tempus.