Why Lloyds Banking, Intermediate Capital, and Quindell Portfolio Should Beat the FTSE 100 Today
LONDON -- Another bullish start sent the FTSE 100 to yet another new record of 6,805 points this morning -- a level last attained during the dot-com madness of more than a decade ago. By 8 a.m. EDT the index had dropped back to 6,801 for a three-point loss while we wait for the latest U.S. Federal Reserve update -- we should probably expect jitters for the rest of the trading session.
Meanwhile, there are plenty of companies looking unaffected by caution today. Here are three whose shares are rising nicely.
Lloyds Banking Group shares got a further boost today, up 2.3% after the bailed-out bank gave us an update on its capital position following the recent Prudential Regulation Authority's pronouncements. In short, the bank is set to meet all of its new capital requirements without any need for further funding from the issue of new equity or other instruments -- though the actual figure was not revealed.
Lloyds shares have been on a strong rise since early April and are now up more than 120% over the past 12 months -- and a return to profit is forecast for the year to December.
Shares in Intermediate Capital Group are up more than 80% over the past 12 months, having gained 6% this morning after the finance and investment group released its full-year results. Although assets under management rose by 13% to reach a record €12.9 billion, pre-tax profit dropped by 42% to £42.6 million -- though that fall was largely due to a "temporary lull in realizations."
According to chief executive Christophe Evain: "ICG is in a strong position. We are strengthening our infrastructure and developing our products as we continue to evolve into a global alternative asset manager."
The Quindell Portfolio share price has risen 1.3% this morning after the firm announced a "major U.K. contract win." The software and consultancy specialist has signed a five-year contract with "one of the top 10 U.K. motor insurers" for use of its software and for support and maintenance. The deal will be worth an initial £3.5 million, with "multi-million service revenues" to come.
Quindell's share price has been buffeted by mysterious rumors about "active shorters" and the firm's financial health -- though Quindell has denied all such speculation. Hopefully, today's news will help settle the nerves of anxious shareholders.
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The article Why Lloyds Banking, Intermediate Capital, and Quindell Portfolio 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.
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