Oxford Catalysts (LSE: OCG) soars on a new deal while Xcite (LSE: XEL) sells some oil
The FTSE 100 (UKX) yesterday responded well to the European Central Bank's unconditional support for the euro, and ended the day up 119 points (2.1%) at 5,777, in one of the market's biggest one-day gains for quite some time. And today it's up a bit further, putting on an additional 10 points to 5,787 by late morning.
So, some good news for markets overall. But there was even better news for certain individual members of the various FTSE indices. Here are three shares that look set to out-pace the market on Friday:
Oxford Catalysts Group (LSE: OCG) soared 8.8p (15.2%) to 66.8p in morning trading, as the synthetic-fuel specialist announced it had been selected as a supplier to Calumet Speciality Product Partners.
The deal should see Oxford Catalysts supplying Calumet's new gas-to-liquids plant in Pennsylvania, with the final 'decision to proceed' due in early 2013. The agreement should net Oxford $10m during 2013 and 2014, with a further $30m or more to come over the first 20 years of commercial operation.
Recruitment specialist SThree (LSE: STHR) saw its shares climb by 10.25p (3.8%) to 282p. At a time when the sector is struggling under ongoing economic weakness, SThree's third-quarter management statement today told of a 6% rise in gross profit, with the firm's pipeline looking strong. The bulk of that profit rise came from outside the UK & Ireland.
Full-year forecasts suggest a dividend of 14p per share and 5% yield, though that income might be barely covered by predicted earnings.
Xcite Energy (LSE: XEL) enjoyed a nice 3.5p (3.1%) boost to 118p after the company sold more than 135,000 barrels of crude oil from its Bentley field in the North Sea. The group also said its pre-production flow tests were "continuing in line with expectations" and are expected to complete within the next two weeks.
Chief executive Rupert Cole said: "We are extremely pleased with the progress of the flow test and the substantial amounts of data and information that is being gathered". Xcite shares are now more than 50% up since the start of July.
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> Alan Oscroft does not own any shares mentioned in this article