Why Petrofac Limited, Monitise Plc And Hunting plc Should Beat The FTSE 100 Today

The FTSE 100 (FTSEINDICES: ^FTSE) is shuffling around at similar levels to last week’s close, gaining a few points on opening before falling back 18 points on the day to 6,224 at the time of writing. There’s really no news driving the UK’s top index today, with most market punters finding nothing more to talk about than meaningless chart patterns.

But let’s hope for a more optimistic July, as June brought us the first monthly loss for the FTSE in more than a year.

Which companies are helping push up the markets today? Here are three from the various indices getting off to a good start:


Shares in Petrofac (LSE: PFC) got an early rise on the announcement of a memorandum of understanding signed with KazMunaiGas Exploration Production (KMG) of Kazakhstan. The price perked up 14p (1.2%) to 1,212p in early trading, which is a welcome boost for a share that has been sliding since the start of the year.

The deal will result in a joint initiative to “explore opportunities to improve the efficiency of oil production and increase production” at the Emba fields, owned by KMG’s subsidiary EmbaMunaiGas.


Monitise (LSE: MONI) shares picked up 1.6p (4.7%) to 36p after the firm revealed it has been chosen by Telefónica Digital as its preferred payment technology partner. The five-year agreement, focused initially in the UK, involves “substantial minimum revenues to Monitise“, which should be similar in magnitude to those generated by the firm’s recent contract with Visa Europe.

The share price of Monitise, which is yet to turn to profit, has had an erratic 12 months and is currently around 8% up over the year, having spiked and then fallen back in the past couple of months.


Oil & gas support engineer Hunting (LSE: HTG) released a trading update today, with chief executive Dennis Proctor telling us that “the Board remains confident of trading in line with expectations“. The firm’s balance sheet is said to be strong, and net debt at 30 June stood at about £160m. The share price responded with a 46.5p (6.4%) gain, to 778p.

For the full year, analysts are forecasting a 4% rise in earnings per share, putting the shares on a forward P/E of 12, dropping to 11 for 2014. Dividends around the 3% level are expected for this year and next.

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> Alan does not own any shares mentioned in this article. The Motley Fool owns shares in Monitise.