Why ICAP, Victrex, and Centamin Should Lag the FTSE 100 Today
LONDON -- The FTSE 100 has been lifted by rising mining shares today, up 0.45% to 6,305 points as of 8:15 a.m. EDT after the latest inflation figures from China were lower than expected, boosting expectations of a continuation of the country's stimulus policies.
But not all shares are going up. Here are three constituents of the various FTSE indexes that are lagging today.
ICAP shares have dropped 0.17% to 292 pence after the interdealer broker was moved to comment on press speculation regarding an investigation by the Commodity Futures Trading Commission into the possible manipulation of prices for the ISDAfix benchmark for swap rates.
Telling us that it does not make submissions to ISDAfix but is involved in the administration of part of the process, the firm said, "ICAP had no knowledge of the allegations prior to the media speculation, and is investigating them."
Despite a first-half update from Victrex telling us that sales volumes are ahead of last year, the company's shares have fallen 1% to 1,578 pence. The firm, which makes speciality polymer materials, shipped 1,392 tonnes compared to 1,377 tonnes in the first half of last year. The company describes its order book for April as "robust."
Despite a small reversal since the middle of March, Victrex shares have had a strong run of late, gaining a third since last July.
Shares in Centamin, the Egypt-based gold miner, have dropped 4.8% despite the release of a solid first-quarter production update. Gold production from Centamin's Sukari mine for the period amounted to a record 87,016 ounces, up 77% on the same period last year and up 2% on 2012's fourth quarter.
Chairman Josef El-Raghy said that, "This marks a solid start to the year and output remains on target to achieve the 2013 guidance of 320,000 ounces," and he told us the firm's planned stage-four expansion is on course for an end-of-year completion.
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The article Why ICAP, Victrex, and Centamin Should Lag the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool recommends Victrex. 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.
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