FTSE Shares That Soared and Plunged This Week
Sep 14th 2013 8:15AM
Updated Sep 14th 2013 8:16AM
LONDON -- The FTSE 100 didn't move much last week, putting on a modest 37 points to end the week at 6,584. The receding threat of military intervention in Syria has calmed markets, but nervous eyes are once again peering ahead to the next actions from the Federal Reserve amid fears that this time the stimulus tapering really might be on.
The release of the latest generation of iPhones has given chip designer ARM Holdings a boost. Although the releases from Apple don't seem to have lived up to the hype, ARM stock gained 79.5 pence (8.9%) over the week to end at 972 pence, with some analysts tipping it to break through the 1,000 pence level again. Unsurprisingly, ARM is pretty highly valued, with forecasts suggesting a P/E of around 46 for the full year. Dividends are still low, yielding less than 1%.
Royal Bank of Scotland
Royal Bank of Scotland is on a surge again, picking up 24.5 pence (7.2%) to reach 361.5 pence by Friday's close. Optimism seems to be picking up ahead of third-quarter figures due on Nov. 1, with forecasts suggesting a new period of robust health for the bailed-out bank. With a return to pre-tax profit expected this year, the shares are on a relatively lofty P/E of 20, but that would drop to a lower-than-average 12 if predictions for 2014 should prove accurate.
An operational update on Monday led to a rapid fall of 65 pence (5%) on the day for oil and gas giant BG Group, and the price dropped further by Friday to finish the week down 78 pence (6.1%) at 1,204 pence. Problems at a couple of projects lie behind the disappointment, with the political crisis in Egypt delaying the company's West Delta Deep Marine development, and there's a four-month delay now expected at its Knarr project in Norway.
A first-half update from Randgold Resources failed to please, and the Africa-based gold miner's stock lost 485 pence (9.7%) to end Friday at 4,504 pence. The firm's statement that "Increased production and reduced costs should enable Randgold Resources to remain profitable in the face of a decreased gold price" fell short on the inspiration front, after the first-quarter's profit dropped from $81.6m to $54.1m.
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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 Apple. 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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