LONDON -- The FTSE 100 ended yesterday a good bit stronger than earlier falls had suggested, actually finishing five points up for the day. And as of 7:45 a.m. EDT it has added another five points after U.S. and Asian markets closed their days on a high.
There are plenty of individual shares that looking still more optimistic. Here are three names that are on the way up today and look set to beat the market.
Glencore Xstrata shares are up 2.8% on news that the mining giant has arranged new revolving credit facilities to the tune of more than $17 billion. The new facilities replace those of the previously independent Glencore and Xstrata companies. Showing a nice sign of confidence in the merged company, the facilities were initially oversubscribed.
With the whole mining sector being hard hit by slowing Chinese demand, today's rise might be relatively small comfort, but it does offer some optimism for the longer-term prospects for the business.
As a step in the preparation to move to a full stock market listing, Quindell Portfolio is arranging a series of teach-ins for analysts and institutional investors to "provide a deeper understanding of the business." As a further part of the process, the insurance services firm is also rearranging its management structure.
The result, as far as the share price goes, has been a 4.4% rise to 8.6 pence. The Quindell share price has been pretty erratic over the past 12 months. It had more than three-bagged by late 2012, but after a hefty slide since then, due in part to accounting concerns from some analysts, the price is still up more than 50%.
Shares in Polar Capital Holdings have gained 6.2% this morning after the investment manager released results for the year to March 31. The firm's core operating profit, excluding performance fees, gained 41% to £10 million, with pre-tax profit up 60% to £15.3 million. Basic earnings per share rose by 58%, enabling a 44% rise in the full-year dividend to 13 pence per share. The company currently has assets under management of $8.8 billion.
Is Polar Capital one you haven't taken much notice of, with your attention more focused on the banking and investing giants these days? If so, you've missed out on a doubling of the share price over the past year.
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The article Why Glencore Xstrata, Quindell Portfolio, and Polar Capital Should Beat the FTSE 100 Today originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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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