Why Vodafone and Blinkx Should Lag the FTSE 100 Today
LONDON -- The FTSE 100 seems to be pausing for breath today before deciding on which direction to turn next. After a 60-point fall yesterday, the index of top U.K. shares has gained 0.32% as of 8 a.m. EDT, with the big miners enjoying a little respite. Much of the market's gains this year have been given up in recent weeks, and the index is now just 17% up on its 52-week low of 5,424 points.
Anyway, a number of shares are not quite so stable today. Here are two that are falling behind this morning and look set to lag the market.
Vodafone shares have dropped 4.2% after the telecom operator confirmed recent speculation that it has made a preliminary bid approach to Kabel Deutschland Holding. At this stage, Vodafone is undecided whether or not to make a formal offer, and there are as yet no specific terms in the public domain.
Vodafone went ex-dividend today, too, in respect of the firm's final dividend of 6.92 pence per share, and that accounts for the bulk of the share-price fall this morning.
Another Beginners' share, Blinkx, is falling today, down by 3.6% -- although today's news looked good. The video technologist has partnered with Ustream to provide Ustream content live at blinkx.com. The new deal will be kicked off with live streaming of the 2013 Bonnaroo Music & Arts Festival in Manchester, Tenn.
Blinkx's shares reached as high as 141 pence during May but have fallen 20% since then -- but the price has still more than tripled over the past 12 months.
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The article Why Vodafone and Blinkx Should Lag the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool recommends Vodafone Group. 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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