3 Shares Set to Beat the FTSE Today
LONDON -- The FTSE 100 (INDEX: ^FTSE) is sliding today, having dropped 37 points as of 8 a.m. EST after a number of its larger constituents lost ground. But the index of top U.K. shares fell even lower yesterday before a late climb saw it close at 5,786, so maybe short-term sentiment is turning.
But whatever the overall market is doing, some individual constituents within the FTSE indexes can move ahead of their own accord. Here are three names on the up that look set to beat the index today:
EMED Mining (ISE: EMED.L)
EMED Mining spiked 9.5% to 11.5 pence this morning after the minerals explorer sealed a $50 million financing deal with the Red Kite Mine Finance fund.
The Red Kite fund will invest $15 million in new EMED shares at 14.8 pence each, which is a nice premium over the pre-announcement price, and will also make available a standby loan of $35 million to enable the recommencement of production at the firm's Rio Tinto copper operation. Red Kite will acquire some so-called "off-take" rights in return.
Victoria Oil & Gas (ISE: VOG.L)
In further good news from the natural-resources sector, Victoria Oil & Gas bounced 5% higher to 2.2 pence after a study of its Logbaba gas field in Cameroon came up trumps. The study, carried out by independent industry advisor Challenge Energy, concluded that the combination of local demand, limited competition, and Victoria's experience gives the oil and gas firm a decent competitive advantage.
Quindell Portfolio (ISE: QPP.L)
It wasn't all about holes in the ground today, though, as software and technology consultant Quindell Portfolio perked 6.3% higher to 14.8 pence after announcing an equity placing and a new banking facility that together will take the firm's working capital to around 80 million pounds.
Chief executive Rob Terry said, "Having this additional working capital will enable us to capitalize on this opportunity to obtain significant market share and further enhance our positioning in the market."
Quindell, which has five-bagged this year, is one of those emerging small-cap shares that could potentially make you a million. But you don't have to find a soaring new technology company to earn superb returns -- it's perfectly feasible to reach that coveted millionaire status through simple long-term investing and letting the power of compound returns push your gains skywards.
The article 3 Shares Set to Beat the FTSE Today originally appeared on Fool.com.Alan Oscroft 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.