LONDON -- The FTSE 100
But even as the FTSE recovers, there are always individual shares falling. Here are three on the way down today.
A few smaller miners were hit today, with Anglo Asian Mining falling 8.5% to 43.7 pence after releasing interim results. The miner, which has gold, silver, and copper interests in Azerbaijan, recorded a 29% fall in first-half pre-tax profits to $10.5 million, down from $14.2 million at the same stage last year. That came from revenue down 22% to $30.1 million.
A fall in profits is forecast for the full year, but today's figures represented a bigger fall than expected. However, it's still early days yet, and the AIM-listed company is on a very low forward price-to-earnings ratio of just three.
Another AIM-listed miner falling today was EMED Mining, whose shares dropped 6% to 9.7 pence. This drop followed the company's quarterly operational update, though there did not appear to be any bad news in it.
The important thing is that the company now controls all the lands it needs for its Rio Tinto copper mine project in Spain, and things are pretty much on track, with commissioning still on target to start by the end of 2013.
Compass Group dropped a little, down 1.7% to 199 pence on the release of a trading update. After a strong fourth quarter, constant currency revenue is expected to be up by around 8%, with organic revenue growth of about 5.5% -- and that's all pretty much in line with current expectations.
So why the fall? Well, it's probably just noise; the shares are still up more than 30% over the past 12 months.
Investor reactions to news are hard to predict, so it's probably best to ignore them and just buy good dividend-paying shares for the long term, the way ace investor Neil Woodford does. The free Motley Fool report "8 Shares Held By Britain's Super Investor" takes a look at some of his major holdings. Click here to get your free copy while it's still available.
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Alan does not own any shares mentioned in this article. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.