FTSE Shares That Soared and Plunged This Week
LONDON -- It's been a pretty uneventful week for the FTSE 100 , with the top U.K. index dropping 23 points to end Friday at 6,651. For a while it was looking as if its three-week losing streak might come to an end, but it wasn't to be -- that's four weeks of falls in a row now.
Thomas Cook Group
Thought dead by many a year ago, travel agent Thomas Cook has staged a remarkable recovery, with its stock price soaring almost eightfold in 12 months.
Full-year results this week gave it a further boost, of 25 pence (17%) to 174 pence, after the company recorded positive cash flow and turned last year's loss per share into an underlying gain. There's a decent pre-tax profit forecast for next year.
After finishing last week as a loser, Petrofac brought a little cheer to its stockholders this week with a 75 pence (6.3%) rise to 1,266 pence, after announcing a significant contract win.
The oil and gas sector engineer, in a 50/50 joint venture, is to provide engineering, procurement, and construction services to Oman Oil for a $2.1 billion refinery improvement project expected to last three years.
The Severn Trent price suffered a 46 pence (2.5%) fall to 1,766 pence in the week the water supplier released six-month figures.
Things are "in line to deliver full year expectations," but underlying pre-tax profit fell 5.8% to 141.3 million pounds. The interim dividend was lifted 6% to 32.16 pence per share, but the regulated utilities sector was down as a whole this week.
Housebuilder Persimmon has had a strong 12 months, with its share price up around 55% before this week. But news that the Bank of England is to shift the focus of its "Funding for Lending" stimulus toward business lending and away from mortgage borrowers hit the sector as a whole, and Persimmon fell 61 pence (5%) to 1,160 pence.
Barratt Developments and Taylor Wimpey suffered similar 5% price falls.
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The article FTSE Shares That Soared and Plunged This Week originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Petrofac. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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