LONDON -- The FTSE 100 (FTSEINDICES:^FTSE) set yet another 52-week closing high today of 6,510.6 points after the travel and leisure sector and the banks enjoyed a positive day.
Although some shares rose nicely today, some lost out. Here are three that lagged the FTSE.
British Land (LSE:BLND) (NASDAQOTH:BTLCY)
British Land shares fell 4.4% to 555 pence after the real-estate investment trust announced a new share-placing to fund what it called "attractive investment opportunities." The company intends to issue up to 89.7 million new shares, representing about 10% of its existing share capital, with the intention of raising about 500 million pounds.
The firm also announced the sale of Ropemaker Place, in London, for 472 million pounds, with the proceeds being "redeployed into our existing London development program."
A crash in profits, blamed on lower silver prices, sent Fresnillo shares down 0.6% to 1,481 pence. Silver production for the 12 months to December fell by 2.1%, though gold production was up 5.4%. But overall revenue was down 1.6% to $2.16 billion, with pre-tax profit crashing by 24% to $1.16 billion. Earnings per share fell 18.4% to $1.03.
There will be a full-year dividend of $0.58 per share, which is only a little more than half of 2011's payout. Today's fall continues Fresnillo's recent share-price slump, which has seen the price fall by 27% since the start of December.
Shares in Inchcape, which have put on nearly 70% since last summer's lows, dropped back a bit today on the occasion of the automotive dealer's full-year results, sliding 2.3% to 518 pence.
But the results look good, with sales up 4.4% to 6.1 billion pounds, pre-exceptional pre-tax profit up 10% to 250.3 million pounds, and adjusted earnings per share up 12% to 39.7 pence. The firm raised its full-year dividend by 32% to 14.5 pence per share, easily beating the expectations of the City -- forecasts for 2013 suggest a dividend of only 13.5 pence per share, and that's almost certain to be uprated now.
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