Why Vedanta Resources, Quindell Portfolio, and Thorntons Should Beat the FTSE 100 Today
LONDON -- The FTSE 100 has lost some of yesterday's gains, slipping 0.45% to 6,462 points by early afternoon after falls hit the mining and telecom sectors -- with Vodafone shares down 2% after speculation that Verizon Communications and AT&T were preparing a bid was refuted.
But there are companies doing well today. Here are three constituents of the various indexes whose prices are rising.
Shareholders in Vedanta Resources got a bit of relief this morning after the decision to order the closure of the company's Tuticorin copper smelter was reversed by the Indian Supreme Court. The closure order, originally made by the Madras High Court, has been replaced by a fine of 1 billion rupees ($18.4 million) for pollution in the state of Tamil Nadu.
Vedanta shares responded by climbing 3.6% to 1,028 pence, but that only recovers a small amount of the 24% the price had lost since the middle of February.
Software and technology consultant Quindell Portfolio saw its shares climb 9.1% to 13 pence this morning on the announcement of a new five-year contract with the RAC. The deal will see Quindell taking on services for addressing auto claims costs of up to 500 million pounds a year and was described by the company as having "the potential to be the largest contract that the Group has entered into to date."
The Quindell share price more than doubled over the second half of 2012 but has since fallen back. But after a recent rally, it's up about 75% over the past 12 months. City expectations currently put the shares on a P/E for December 2012 of only nine. We could be looking at a good growth opportunity here -- but be sure to do your own research.
"Chocolate-maker sells chocolate over Easter" hardly sounds like a surprise announcement, but it was enough to send shares in Thorntons up 5.9% to 73 pence today. Trading over the Easter period was only described as "satisfactory," but the company says that with sales for Valentine's Day and Mother's Day added in, the result should be pre-exceptional pre-tax profit "ahead of the current market expectation of 3.1 million pounds."
After a two-year slump took Thorntons shares to a low of just 9.5 pence by January 2012, the price has since risen more than sevenfold.
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The article Why Vedanta Resources, Quindell Portfolio, and Thorntons Should Beat the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.