Lansdown (LSE: LOGP) strikes oil, while ARM (LSE: ARM) sees profits boosted.
The FTSE 100 (UKX) is still going nowhere today, hovering around 5,505 points for just a tiny six-point rise on yesterday's close of 5,499, the first time it has closed below 5,500 this month. The market remains subdued after apparently being surprised by the inevitable deepening of Spain's banking crisis.
But Spanish 10-year bond yields notwithstanding, some FTSE companies have seen nice rises today. We look at three of them, from various indices...
Lansdowne Oil & Gas (LSE: LOGP) gained 5% to 66.6p after releasing an update on the Barryroe Resource in the Celtic Sea, of which Lansdowne owns 20%. Six wells have been drilled there in total, and all six have yielded hydrocarbons.
The latest analysis of test results indicates significantly larger quantities of oil. According to Tony O'Reilly, chief executive of field operator Providence Resources, Barryroe "is a substantial oil accumulation across multiple stacked horizons with much running room for further resource growth". This caps a very strong period for Lansdowne, whose shares have more than trebled since June.
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ARM Holdings (LSE: ARM) saw its shares boosted by 24p (5%) to 509p after the Cambridge-based chip designer released interim results. Revenues for the first half, in sterling terms, were up 15%, beating market expectations, while pre-tax profit jumped by 22%.
With earnings per share up 22%, ARM will pay an interim dividend of 1.67p per share, up 20% on last year. For the full year, the yield is still likely to be less than 1%, but we should hopefully see that rise over the next few years.
Shares in gold miner Petropavlovsk (LSE: POG) gained 26p (6.8%) to 407p after the release of strong first-half production figures. The Russia-based miner produced 279,100 oz of the shiny stuff in the six months to 30 June, which is 27% more than last year's first-half production of 219,100 oz.
The group is still on for full-year production targets of 700,000 oz, we were told. That should certainly help the share price, which is down around 50% on the year, since gold fever started to subside.
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> Alan does not own any shares mentioned in this article.