Why TUI Travel, EnQuest, and Speedy Hire Should Beat the FTSE 100 Today
LONDON -- The FTSE 100 is suffering from further discontent spreading across the eurozone after the Cyprus bailout crisis helped depress Italy's latest bond auction. With banks in Cyprus still not open and the punishment to be meted out to savers still undecided, the island's offshore-banking status is looking very much like a Norwegian blue parrot.
As of 10:30 a.m. EDT, the U.K.'s major index is down 0.34% to 6,377 points, and that should be easy to beat today, shouldn't it? Here are three companies likely to do just that.
"Strong trading continues," said today's pre-close update from TUI Travel, as the share price climbed 3.8%. The key winter period has gone well, with selling prices improving and margins strengthening, and that momentum has continued into the 2013 summer season. Chief executive Peter Long now says full-year performance should be "toward the upper end of our growth targets."
That suggests full-year profit could be around up 10%, putting the shares on a forward P/E of only about 11.
EnQuest shares are up 2.1% after the oil and gas producer released full-year results telling us that things are going well. Enquest's production hit the upper half of its earlier guidance, reaching 22,802 barrels of oil equivalent per day, with the firm's major projects progressing on schedule. And at the bottom line, profit after tax almost doubled to $259.7 million.
Equipment rental firm Speedy Hire has seen its shares climb 5.6% today after announcing a new contract with National Grid . The managed-services agreement will see Speedy Hire providing National Grid with plant and equipment for an initial three-year period and will be worth up to 6 million pounds per year.
Dave Angell of National Grid said, "The contract with Speedy will help National Grid drive further efficiencies across our U.K. business as we implement sustainable, innovative and affordable energy solutions for the future."
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The article Why TUI Travel, EnQuest, and Speedy Hire Should Beat the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool recommends National Grid (ADR). 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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