Spirax-Sarco (LSE: SPX) and AFC Energy (LSE: AFC) climb on good news.
The FTSE 100 (UKX) continued its upward movement today, putting on a further 35 points to reach 5,920 points by late morning, taking it above the 5,900 level that it has been toying with for weeks. The absolute level of the FTSE is, of course, meaningless, but it would boost confidence to see it beat its 52-week high of 5,989 points.
We also have some individual constituents of the indices gaining impressively on the back of positive news. Here are three companies with happy shareholders today...
The share price of Spirax-Sarco Engineering (LSE: SPX) responded to an 8% increase in operating profit by leaping 182p (9.3%) to 2,154p. For the four months to 31 October, organic sales grew by 6%, which was ahead of the first half last year, and the company's markets have apparently been more resilient than global economic progress would suggest.
The board expects further progress for the full year, with City analysts forecasting a dividend payout of just under 3%
AFC Energy (LSE: AFC) soared this morning, climbing 7p (32%) to 43p, after receiving an award of up to €6m (£4.9m) for the installation of an alkaline fuel cell energy generation system. The installation, which will be the world's largest, will be at an ICL plant in Essex, and is expected to produce around 1 MW of power.
This could well be a big step towards globalising AFC's fuel cell technology, and chief executive Ian Williamson was understandably ebullient, saying: "We are delighted that European funding has been identified to support this important project."
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Shares in Coastal Energy (LSE: CEO) spiked up 115p (9.5%) to 1,325p after the company hinted that rumours it is to be sold might or might not be true. The press has been speculating on a possible takeover by Pertamina, the Indonesian state-owned oil company.
Coastal responded by telling us that it "continuously evaluates strategic alternatives, including [...] the potential sale of the Company", but that "there can be no assurance" of any deal.
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> Alan does not own any shares mentioned in this article.