LONDON -- The FTSE 100
But if the Footsie is stumbling, there are plenty of individual companies in the various indexes that are doing fine. Here are three beating the FTSE today.
Home Retail gained 3.6% to 1.8 pence on the day it released half-year results. The real point of interest was its Argos stores, where online retail is going strong: Multichannel sales accounted for 51% of all sales during the period. As Argos moves its focus further from catalogue shopping to online, at least 75 stores will be closed or relocated.
Overall "benchmark" operating profit was down 29% to 19 million pounds, but that was expected, and the progress at Argos looks like a further step in a hopefully successful recovery.
Preliminary results from Punch Taverns lifted the shares 6.8% to 6.9 pence, as the figures were pretty much in line with expectations. Pre-tax profit is down 11% to 64 million pounds from last year, and earnings per share are down 16% to 7.2 pence. Net debt increased by 137 million pounds, but the firm's cash reserves stood at 264 million pounds at year-end.
So far, all of this seems to represent decent progress on the pub chain's restructuring.
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Condor Gold rose 5.5 pence (3%) to 188 pence after the precious-metals explorer announced it has received approval from Nicaragua's Department of Mines to transfer the La Mojarra Concession to Condor's Nicaraguan subsidiary.
Condor, which also operates in El Salvador, has been on a good run of late, with the shares having more than quadrupled since their June low of 44 pence.
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