Please ensure Javascript is enabled for purposes of website accessibility

Why Premier Oil, Quindell Portfolio, and Gooch & Housego Beat the FTSE 100 Today

By Alan Oscroft - Apr 8, 2013 at 12:21PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Premier Oil, Quindell Portfolio, and Gooch & Housego start the week well.

LONDON -- The FTSE 100 (INDEX: ^FTSE) started the week off on the right foot, gaining 0.43% to close at 6,277 points. There isn't any real news behind the modest rise, which has been boosted by a mild recovery in some mining shares, but poor U.S. jobs news from last Friday is causing some pessimism.

But even if things are looking a little gloomy, there are plenty of individual companies prospering. Here are three whose shares were on the up today.

Premier Oil (LSE: PMO)
Premier Oil shares picked up 6.1% today to reach 385 pence after the oil explorer announced a new discovery in the North Sea off Norway. Premier has a 30% stake in the Luno II prospect, and the 16/4-6S well in the area has hit a "potentially significant oil discovery" with a gross oil column in excess of 40 meters. Tests will now be conducted to check for flow potential.

Premier Oil shares have picked up nicely since the start of the year, with the firm reporting record full-year earnings of $252 million last month. And shareholders are in for a dividend of 5 pence per share -- their first since 1997.

Quindell (LSE: QPP)
A first-quarter update from Quindell Portfolio sent the firm's shares up a further 1.9% to 13.5 pence today, topping a nice start to April for the software specialist. Quindell, which provides software and outsourcing services to a number of sectors including telecoms and insurance, told us that it has achieved more than 25 million pounds in EBITDA in the three months to March and that margins are better than expected.

The company says it is on track to meet full-year expectations, which suggests that we should see a better-than-doubling of earnings per share, putting the shares on a forward P/E of around 10. Growth bargain? Could be.

Gooch & Housego (LSE: GHH)
Shares in optical-components specialist Gooch & Housego have done well over the past month, and they gained a further 3.4% to 455 pence today after a first-half trading update told us the firm's order book now stands at 29.6 million pounds, up 19% from the start of the year.

The U.S. aerospace and defense market has been tough, but Gooch & Housego has won orders from European customers in the same industry and has strengthened its Asian presence by starting up a Japanese subsidiary and expanding in Singapore and China. Trading so far is "in line with expectations."

Finally, if you're looking for investments that should take you all the way to a comfortable retirement, I recommend the Fool's special new report detailing five blue-chip shares. They'll be familiar names to many, and they've already provided investors with decades of profits. But the report will only be available for a limited period, so click here to get your hands on these great ideas -- they could set you on the road to long-term riches.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/22/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.