3 Shares Beating the FTSE Today
LONDON -- The FTSE 100 (INDEX: ^FTSE) has been falling back this week, but that was arrested today, and it's currently seven points up at 5,805. It's looking unlikely that its 52-week high of 5,989 points will be beaten this week.
But if the Footsie is stumbling, there are plenty of individual companies in the various indexes that are doing fine. Here are three beating the FTSE today.
Home Retail (ISE: HOME.L)
Home Retail gained 3.6% to 1.8 pence on the day it released half-year results. The real point of interest was its Argos stores, where online retail is going strong: Multichannel sales accounted for 51% of all sales during the period. As Argos moves its focus further from catalogue shopping to online, at least 75 stores will be closed or relocated.
Overall "benchmark" operating profit was down 29% to 19 million pounds, but that was expected, and the progress at Argos looks like a further step in a hopefully successful recovery.
Punch Taverns (ISE: PUB.L)
Preliminary results from Punch Taverns lifted the shares 6.8% to 6.9 pence, as the figures were pretty much in line with expectations. Pre-tax profit is down 11% to 64 million pounds from last year, and earnings per share are down 16% to 7.2 pence. Net debt increased by 137 million pounds, but the firm's cash reserves stood at 264 million pounds at year-end.
So far, all of this seems to represent decent progress on the pub chain's restructuring.
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Condor Gold (ISE: CNR.L)
Condor Gold rose 5.5 pence (3%) to 188 pence after the precious-metals explorer announced it has received approval from Nicaragua's Department of Mines to transfer the La Mojarra Concession to Condor's Nicaraguan subsidiary.
Condor, which also operates in El Salvador, has been on a good run of late, with the shares having more than quadrupled since their June low of 44 pence.
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The article 3 Shares Beating the FTSE Today originally appeared on Fool.com.Alan does not own any shares mentioned in this article. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors.
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