Why Carillion, Quindell Portfolio, and Lamprell Beat the FTSE 100 Today
LONDON -- The FTSE 100 has started the week positively, gaining 26 points to close at 6,330 today. Utilities, consumer products, and other shares generally considered safe rose a little, but the picture is still mixed for the mining sector. The U.K.'s top index has been steadily falling since reaching a 13-year high of 6,876 on May 22 -- it's now down 546 points since then -- but the fall may well have bottomed out now.
A number of shares still managed to beat the FTSE today. Here are three of them.
Construction firm Carillion today announced another big contract win to add to the £400 million deal it struck last month for the redevelopment of Battersea Power Station. The latest is a £130 million contract to develop part of the Oman Convention and Exhibition Centre Project, which is likely to cost about £1 billion when all is said and done. Carillion, which has been working to expand beyond its home U.K. market, will commence work in July on a project expected to last 18 months.
And the share price? It gained 2.7% today, which is a welcome reversal after the price slump that set in at the beginning of the year.
Quindell Portfolio, whose share price has been hit recently by shorting fears (which the company refuted), got a 1.4% boost to 9 pence today after the firm announced that it has granted warrants to RAC Limited that can be converted into 250 million new shares at an exercise price of 13 pence. This comes after Quindell -- which provides software and services for a number of sectors including insurance -- signed a deal with RAC in April for the use of its product suite.
Based on forecasts for the year to December 2013, Quindell shares are on a forward P/E of only four!
Lamprell shares picked up 2.6% after the engineering-services firm revealed a refinancing of its debt facilities. The firm, which offers its services to the oil and gas industry, has sealed a deal with five core lending banks for a new $181 million facility which will replace its existing loans.
Lamprell's share price had been falling since a mid-May peak of 183 pence, but after today's movement it is still up more than 40% over the past 12 months.
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The article Why Carillion, Quindell Portfolio, and Lamprell Beat the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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