BAE Systems plc (LON: BA.), Sports Direct International Plc (LON: SPD) and Quindell Portfolio PLC (LON: QPP) all rise strongly.
Unexpectedly weak European economic indicators hit the FTSE 100 this morning, sending it tumbling 105 points to 6,290 by midday -- and that comes just after the UK's top tier index touched an intra-day high of 6,412 yesterday. Instead of the hoped-for return to growth, it now looks like the eurozone economy is set to shrink by 0.3% in the first quarter of 2013.
Still, there are plenty of companies that are doing well. Here are three whose prices are rising on good news:
BAE Systems (LSE: BA) shares gained 16.1p (4.8%) to 348p after the company lifted its full-year dividend by 3.7% to 19.5p per share. On the current price, that's an attractive yield of 5.6%. The company, a constituent of the Fool's Beginners' Portfolio, did record a 7% fall in sales to $17.8 billion, but operating profit was up 3.7% to $1.64 billion.
Underlying earnings per share fell 2% to 38.9p, but that was still sufficient for BAE to pay a dividend "in line with its policy of a long-term sustainable cover of around two times underlying earnings". Today's figures put the shares on a price-to-earnings (P/E) ratio of 9.
Shares in Sports Direct International (LSE: SPD) perked up 19.3p (4.6%) to 435p in response to the company's latest update. For the 13 weeks to 27 January, sales were up 21% to £589.5 million with gross profit up 23% to £244.8 million. Chief executive Dave Forsey told us: "We are certain of reaching our 2013 full year targeted underlying EBITDA of £270m (before the charge for the bonus share schemes)."
The share price is up a very nice 50% over the past 12 months, with full-year forecasts putting the shares on a prospective P/E of 17.
A trading update today sent Quindell Portfolio (LSE: QPP) shares up 3.7% to 14p. The firm, which provides software and consultancy to the insurance and telecoms sectors, told us it has had a "100% success rate in converting all outsourcing pilots into on-going long term contracts", and that outsourcing volumes look sufficient to meet full-year revenue expectations.
Current forecasts suggest a near-doubling of earnings per share this year, putting the shares on a forward P/E for December 2013 of a modest-looking 6.
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> Alan does not own any shares mentioned in this article.