3 FTSE Shares Soaring Higher Today
LONDON -- The FTSE 100 (INDEX: ^FTSE) fell back in early trading, losing 66 points for a 1.2% fall to 5,458. That comes after a reasonably good week, but it's likely to have been influenced by the uncertainties surrounding this week's big eurozone meeting, in which the German Chancellor Angela Merkel and French President Francois Hollande are opposing each other over the idea of a Europe-wide sharing of debts.
Still, none of that has stopped some of our FTSE companies from having a good day, and here are three from various indexes.
We've struck gas!
Aminex (ISE: AEX.L) , the oil and gas explorer focusing on coastal zones in Africa and Texas, saw its shares put on 11.3% to reach 4.5 pence today after it released the results of tests at its Ntorya-1 well in the Ruvuma Basin in southern Tanzania.
The tests showed that the well can produce up to 20.1 million standard cubic feet per day of gas, which is the equivalent of 3,350 barrels of oil per day. It's a nice boost for the company, which has seen its share price fall by more than a third in the past year as falling demand depresses oil prices and punishes many in the sector.
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Strong product release
Xaar (ISE: XAR.L) , the developer of inkjet printing technology, gained 4.6% to reach 205 pence in morning trading on the news that its latest product release was met with positive feedback.
The firm's new printhead, for use in ceramic tile decoration, is undergoing trials in Asia and Europe, and volume sales are expected by the third quarter of the year. The shares have fallen by 30% in recent months, so hopefully this is the start of a strong recovery.
I'll drink to that
Pub operator Punch Taverns (ISE: PUB.L) released a healthy Q3 interim statement today, and its shares promptly rose 2.6% to 6.9 pence.
Trading for the 12 weeks to May 26 was impacted, as expected, by the weather and the timing of bank holidays; the same quarter last year benefited from good weather and the royal wedding. But we were told that the company is on target to meet its full-year expectations and that planned disposals are progressing ahead of book value.
It's a welcome respite for a share that has lost half its value in the past year, and it could be one for recovery investors to take a closer look at.
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