3 Shares Set to Beat the FTSE Today
LONDON -- The FTSE 100 has started the week negatively, dropping 32 points to 5,890 as I write, after closing slightly down on Friday. Hopes that the index of top U.K. stocks would top its 52-week high of 5,989 before Christmas are looking less likely today.
But we have seen a few individual constituents of the FTSE indexes rising today. Here are three that are doing well.
Centamin Egypt is back in the news again, with its shares climbing 26.4% to 43.8 pence today. Last week we heard that a payment dispute was leaving the gold miner without fuel and that gold exports had been blocked by another legal hurdle. That sent the share price plunging. Then fuel supplies were back on, and the price recovered some.
And today we learned that the recent customs block on exports has been lifted and a shipment was made yesterday. The firm expects "fuel supply and normal operations at Sukari to resume in the coming days."
Engineering and construction group Kentz got a 3% boost to 406 pence on the awarding of three new contracts in Iraq worth a total of $55 million. The contracts, for the development of facilities and infrastructure for the country's oil and gas industry, should last three to four years.
Kentz shares have been sliding since a recent peak in September but have started to recover again over the past few weeks. Forecasts for this year and next are healthy, suggesting earnings growth of around 15%.
President Petroleum shares put on 2% to 25.5 pence following a positive conclusion to an independent evaluation of the oil explorer's concessions in Paraguay. President's resources from its stakes in the Pirity and Demattei concessions are estimated to 94 million barrels.
President could do with some good news, as its share price has slid all the way from a high point of 60 pence early in the year.
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