FTSE Shares That Soared and Plunged This Week
LONDON -- It was another good week for the FTSE 100 this week, with strong trading volumes and a rise of 92 points (1.4%) to end Friday at 6,664. The U.K.'s top index has now recovered 3.8% since its slump as low as 6,417 points in early February.
The week saw gains for the FTSE's mining companies, with news from a handful in the sector. Here are four of the week's movers.
Mexico-based silver miner Fresnillo has been in dispute with the El Bajío agrarian community and has had an explosives permit suspended. But we heard this week that El Bajío's latest attempt to prevent the lifting of the ban has been denied, and Fresnillo will now refer that decision to the country's Ministry of Defense.
Fresnillo stock gained 179 pence (23%) to finish the week at 972 pence, taking the price up 45% since mid-January.
Petrofac picked up 122 pence (10%) to 1,317 pence in the week the oilfield services company revealed its part in a new $3.7 billion contact in Kuwait.
Petrofac's part in the development of the Kuwait National Petroleum Company's Mina Abdulla refinery project is worth $1.7 billion, and will see the company providing 19 new refining units and upgrading five more. It is expected to span a period of approximately four years.
Tate & Lyle
Tate & Lyle released a third-quarter profit warning on Feb. 13, and in response its stock price was hammered with a 117 pence (15%) loss on the week to 658 pence.
Because of weak sales and falling prices, the supplier of sweeteners and food ingredients has cut its annual profits guidance to 329 million pounds, in line with last year and undercutting analysts' forecasts by 11 million pounds.
Full-year results from Rolls Royce Holdings displeased the markets on Thursday, with the price losing 152 pence (13%) to end at 1,025 pence.
Despite a 23% rise in underlying pre-tax profit to 1.76 billion pounds and a 13% dividend boost to 22 pence per share, the aero-engine maker surprised us by predicting "a pause in our revenue and profit growth" for 2014 -- it will be the first year in a decade in which no revenue growth is expected.
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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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