3 Shares Set to Beat the FTSE 100 Today
LONDON -- The FTSE 100 has dropped back below the 6,300 level today, down 78 points, or 1.2%, to 6,269 as of 8:30 a.m. EST. Following weeks of upbeat sentiment from Asia and the U.S., Europe has been out of the news -- until today, that is, when a number of broker downgrades and talk of political instability in Italy and Spain renewed fears of poor progress on the European debt front.
Despite that, however, a number of individual constituents of the various FTSE indexes are flying high. Here are three that are climbing today.
Randgold Resources continued its promising start to the year today, with its share price rising 4.2% to 6,340 pence after the company announced "record 2012 results." With production up 14% to 794,844 ounces of gold, profit for the full year rose by 16% to $511 million. The firm's Loulo-Gounkoto mining operation beat its targets, yielding 503,224 ounces.
Even after those impressive figures, Randgold still has ambitious targets, aiming to produce 1.2 million ounces of the shiny stuff per year by 2015. The dividend payout for this year was lifted by 25%.
News of a new oil and gas discovery sent shares in Salamander Energy soaring 13.2% to 211 pence. At the South Kecapi-1 DIR/ST exploration well in the North Kutai basin, the company reported finding 40 meters of oil and gas pay, with a drill stem test yielding a flow of light oil at a rate of approximately 6,000 barrels of oil per day. Salamander is now moving on to explore other structures before returning to the South Kecapi area.
Current expectations show Salamander making a profit for the year to December 2012, with shares on a price-to-earnings ratio of 11, falling to about 10 for 2013.
Photo-Me International shares have perked up 4.4% to 69 pence after the company announced a special dividend. At the firm's halfway stage, it had 70 million pounds on its books and was looking at ways to return some to shareholders.
This will now happen as a special dividend of 3 pence per share, which will be payable on March 8. On today's price, that represents a 4.3% payout, and there's an annual dividend of 4.6% currently being forecast by City analysts for the year to April.
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