LONDON -- The FTSE 100 looks set to continue its slow climb back in early morning, up 0.34% to 6,382 as of 11 a.m. EST. But it's another busy results day today, so it's perhaps not surprising if the index is a little erratic as they unfold.
And if the FTSE is falling, that makes it easier for individual shares to beat it. Here are three that are doing that today. "this"
Tullow Oil oil shares rose 1.6% to 1,233 pence in morning trading after the company delivered an update on its Paipai-1 onshore well in Kenya. The well was drilled to a depth of 4,255 meters, and a 55-meter layer of sandstone containing light hydrocarbons was found, though none could be brought to the surface at the time.
Exploration at the site, in which Tullow has a 50% interest, will be suspended while the company evaluates the data is has recorded from the drilling and considers the technical options open to it.
A proposal to acquire the remaining 29% of William Hill Online that it currently does not own sent William Hill shares up 7.3% to 434 pence this morning. The purchase from Playtech, which should cost around 424 million pounds, will be partly funded by a fully underwritten 375 million pound rights issue, with the rest coming from the company's credit facilities.
Chief executive Ralph Topping told us that "the Board has concluded that it is in the best interests of our shareholders to exercise our call option to assume full ownership of this attractive, high growth, high performing business." William Hill shares are now up about 90% over the past 12 months.
Full-year results from Taylor Wimpey sent its shares up 3.7% to 84 pence today. The homebuilder reported a 44% rise in operating profit to 230 million pounds, with adjusted basic earnings per share up 124% to 4.7 pence. The firm completed 10,886 homes (6.7% more than in 2011) at an average selling price of 181,000 pounds (up 5.8%). Tangible net asset value per share is up 7.3% to 61.5 pence, representing 75% of the current share price.
A final dividend of 0.43 pence per share was announced, which is up 13% up on last year for a total of 0.62 pence per share. That's less than a 1% yield at this stage, but the firm did tell us that it intends to pay "both regular maintenance dividend payments through the cycle and additional returns where appropriate."
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