3 Shares the FTSE Should Beat Today
LONDON -- The FTSE 100 has fallen back a little today after three days of rises, dropping 0.39% to 5,923 points as of 9 a.m. EST. New stimulus measures announced by the U.S. Federal Reserve were received positively, but they had pretty much been expected and were already built into market sentiment.
This is only a modest fall, but sadly there are individual constituents of the FTSE indexes faring less well. We look at three that are slipping today.
Gold miner Centamin Egypt, recently troubled by a legal dispute over its Sukari mine concession, today announced a further dispute with a fuel supplier, leading to the suspension of mining operations. The share price slumped by 41% to 30.3 pence, taking it down more than 70% from its pre-crisis peak.
The Egyptian General Petroleum Corporation is seeking a retrospective $65 million for previous fuel supplies, which Centamin described as illegal. And, to add to Centamin's woes, extra legal hurdles have been placed in its way by Egyptian customs demanding Ministry of Finance approval for further gold exports.
Shares in Sports Direct International fell 6.1% to 384 pence, despite the firm reporting a 25% increase in first-half pre-tax profit, to 125 million pounds. The London Olympics and Paralympics gave the company a boost, helping revenue for the six months to rise by 22.5% to 1.1 billion pounds. Earnings per share rose 28% to 16 pence.
The company also announced plans to try to reintroduce a bonus scheme for founder Mike Ashley, worth around 40 million pounds in shares dependent on performance targets. An earlier version of the scheme was rejected by shareholders in September.
Advanced Medical Solutions Group saw its share price slide by 15.4% to 58 pence after warning that full-year performance would be at the lower end of market expectations. The reason, according to the wound care specialist, is that market penetration for its LiquiBand products in the U.S. has been disappointing.
Advanced Medical's shares are now down about 35% over the past 12 months, though there should still be reasonable earnings growth expected for this year and next.
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The article 3 Shares the FTSE Should Beat Today originally appeared on Fool.com.Alan does not own any shares mentioned in this article. The Motley Fool has a disclosure policy.We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.