LONDON -- The FTSE 100
But indexes are just the aggregates of their constituent companies, so here's a quick look at three from the various indexes that are doing well today.
Balfour Beatty gained 2% to 300 pence on the release of interim results that exceeded expectations, suggesting more green shoots for a construction industry recovery. The infrastructure services group reported a rise in underlying pre-tax profit of 12% to 156 million pounds after group revenue gained 7% to 4.8 billion pounds.
The highlights were an underlying earnings-per-share figure of 18.8 pence -- up 28% -- and a 6% hike to the interim dividend to 5.6 pence per share. A similar rise at year-end would imply a 4.8% dividend yield from a low price-to-earnings ratio of around eight.
Resolution was the FTSE 100's biggest riser in early trading, climbing 7.5% to 236.5 pence after the insurance company announced a restructuring of its board to bring it more in line with the general insurance industry.
On the day the firm reported an interim operating profit that failed to meet expectations, falling to 163 million pounds from 390 million pounds last year, chairman Mike Biggs told us that "now is the right time to ... move to a more conventional governance and operating structure for the Company," rather than continue with the outsourcing of key functions that might have threatened the firm's main market listing.
Troubled bank Standard Chartered recovered 4.6% to 1,432 pence after reaching an agreement with the New York Department of Financial Services over allegations it carried out controversial dealings with Iran. Reports suggest the bank will pay $340 million in settlement of these claims and will allow the DFS to oversee its compliance with U.S. regulations.
Though the shares are now down 9% from their 1,567 pence peak before the shock, that's a lot better than the initial 22% fall they suffered.
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