FTSE Shares That Soared and Plunged This Week
Sep 28th 2013 11:45AM
Updated Sep 28th 2013 11:46AM
LONDON -- The FTSE 100 had a down week, losing 84 points (1.3%) to end Friday at 6,513. The damage was partly done by Mark Carney, governor of the Bank of England, who suggested that the economy is robust enough to not need further quantitative easing. The U.K.'s top index is still up on the month so far, however, by a modest 30 points. But which stocks were moving the most? Here's a look at some of the biggest winners and losers over the week.
The Vodafone price had steadied after news of the sale of its stake in Verizon Wireless gave it a boost in August. But it resumed its climb this week, picking up a further 8.7 pence (4.2%) to end on 217.2 pence. That takes the price up 40% since the start of 2013, which is a big rise for a hundred billion-pound company. But even after that, the stock is still on a forward P/E of a distinctly average 14 and offers a likely 5% dividend yield. It could still be a bargain.
International Consolidated Airlines
This is an easily forgettable name, but it's the combined forces of British Airways and Spain's Iberia. And this week its price picked up 8.7 pence (2.6%) to 337.3 pence, taking it up more than 120% over the past 12 months. The rise comes hand-in-hand with a recovery in performance, as the company looks set to reverse last year's loss and return to a pre-tax profit of around 230 million pounds this year, according to current forecasts.
Shares in electricity and gas supplier Centrica dropped 35.3 pence (8.7%) to 367 pence after Ed Milliband, leader of the U.K.'s opposition Labour party, floated plans to cap energy prices if he comes to power at the next general election. Fellow energy firm SSE also saw its price drop for the same reason, but Centrica's price was depressed further after the company additionally went ex-dividend to the value of 4.92 pence per share.
Cruise operator Carnival saw its price fall 285 pence (11.9%) to 2,113 pence in response to the company's third-quarter results. Although Q3 revenues of $4.7 billion were in line with the same period a year ago, the firm admitted that it will take some time for the Costa brand to recover from January 2012's capsize of the Costa Concordia, which led to 32 fatalities. More than 18 months on, the company is still having to discount fares to win back customers.
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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 Vodafone Group. 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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