LONDON -- The FTSE 100
Individual companies have their own stories to tell, of course, and here are three constituents of the FTSE indexes that have soared this morning.
SuperGroup shares climbed 60 pence (18%) this morning after the company released preliminary results. Sales at the owner of the Superdry fashion brand rose by 32% to 313.8 million pounds, but a series of management catastrophes over the year, including a profit warning after an accounting error and stock management problems, led to a fall in underlying pretax profit of 15% to 42.8 million pounds.
But 26 new stores were opened, like-for-like sales grew by 2%, and Internet sales now account for 10% of revenue. The market appears to believe in the underlying story.
Advertising and media group Aegis' shares rocketed 45.5% to 236 pence after it announced an agreed takeover by Japanese ad agency Dentsu. Dentsu has offered 240 pence per share, which is a 48% hike on yesterday's closing price of 162 pence.
Aegis had a great 2011, and for this year analysts have penciled in a 45% rise in earnings, which seems to justify the takeover premium. The deal will create one of the world's largest advertising groups.
888 Holdings (LSE: 888.L)
Online gambling firm 888 Holdings soared 14% to 74 pence after releasing updated guidance for the year. The company had a strong second half in 2011, driven largely by its casino and poker offerings and strong growth in Spain, and it appears this has continued in the first half of 2012. Earnings for the full year are now predicted to be "materially ahead of current expectations."
If you had bought some 888 shares a year ago, you'd be feeling happy today; they've doubled in the past 12 months.
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