Talvivaara (LSE: TALV) and Salamander Energy (LSE: SMDR) fall on disappointing news.
The FTSE 100 (UKX) has been looking stronger of late, and today continued to recover from its longer-term slump, By midday it had put on another 19 points to reach 5,660. The lack of fresh disaster news from Europe appears to be doing the markets some good.
But an index is only the aggregate of its component companies, and there have been plenty of individual price moves across the various FTSE indices this morning. Here are three shares being punished...
Nickel and zinc miner Talvivaara (LSE: TALV) took another hit today, falling 24p (14%) to 146p, as a result of a weak operating update.
The firm saw its second-quarter production hit by a number of problems, including excessive rain and flooding, and a stoppage caused by a fatality in April. There has been a production increase over the previous year, but full-year 2012 guidance is now unlikely to be achieved.
This is disappointing, just after the 2012 share price slump looked like it was recovering. But things are tough for all miners these days, with most mining shares being down on the year.
Despite having had a great June and publishing a strong half-year update today, housebuilder Persimmon (LSE: PSN) saw its shares fall 9.5p (1.5%) to 625.5p
Although the company completed 6% more homes than during the same period last year, and achieved an average selling price 7% up, a report just released suggested that the construction sector fell at its fastest pace for two and a half years last month, and it took the shine off Persimmon's good figures.
It also hit across the sector, with Bovis Homes (LSE: BVS) also down, 8p (1.6%) to 479.5p, Barratt Developments (LSE: BDEV) falling 2.9p (2%) to 142p, and Taylor Wimpey (LSE: TW) losing 1.1p (1.2%) to 49p.
The well is dry
Oil and gas explorer Salamander Energy (LSE: SMDR) released an update today, and saw its shares promptly drop by 4.3p, for a 2.5% fall to 167p.
The reason? The firm's Far East-1 well in its prospects in the Gulf of Thailand has has turned out to be dry. Technically so anyway, as it was actually wet, but the fluids they found down there consisted only of formation water.
The well will now be plugged, but the firm is still very positive about its overall prospects in the region.
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> Alan does not own any shares mentioned in this article.