3 Shares Set to Beat the FTSE 100 Today
Mar 12th 2013 8:54AM
Updated Mar 12th 2013 8:56AM
LONDON -- The FTSE 100 closed above 6,500 yesterday for the first time in more than five years, and today it edged higher to set an intraday record of 6,513 points. As of 8:30 a.m. EDT, the index is up four points on the day to 6,508.
But which individual shares are helping to keep the FTSE at record levels? We take a look at three that are rising today:
Lloyds Banking Group shares have picked up 1.1% to reach 50.6 pence after the company announced that it has successfully placed 101.7 million shares in St James's Place at a price of 5.10 pounds per share, raising 520 million pounds. Lloyds still has a holding of 185.6 million shares and has agreed not to make any further disposals for the next year.
St James's Place shares fell 3.3% on the same day, but they're still up 50% over the past 12 months, helping take Lloyds' profit on the deal to 400 million pounds.
Shares in IG Group Holdings soared 6.2% to 555 pence after the investment derivatives provider announced an 18% boost to third-quarter revenue. As the stock markets become more bullish, IG is seeing higher levels of demand for its services. Overall revenue for the three months to Feb. 28 came in at 88.6 million pounds, with U.K. revenue up 15% to 45.2 million pounds.
Today's rise adds to a great start to the year for IG shares, which are now up 25% since the beginning of January.
Imagination Technologies Group gave us a positive update today, leading to a modest but welcome 1.2% rise to 537 pence in morning trading. The company, which develops and licenses technology for digital audio applications, told us that "the momentum in the business has continued strongly, following another robust performance in the first half of the financial year."
A number of new developments using Imagination's intellectual property have been announced in recent months, including products from Samsung, Intel, and LG. And electronics manufacturers, including LG and Sony, are now shipping televisions using the firm's technology.
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