The FTSE 100 (FTSEINDICES: ^FTSE) lost 10 points to 6,562 by midday, despite a breakthrough being achieved over the US budget deadlock. The problem is, it’s only a temporary solution, and we could be seeing the whole thing starting up again after the agreement ends on 7 February.
But whatever is going on in Washington, there are FTSE shares having a good day. Here are three on the up:
SABMiller
Shares in SABMiller got off to a good start, gaining 135p (4.4%) to 3,175p after the brewer released an upbeat first-half trading statement. Net revenue for the six months has risen 4% with second-quarter revenue up 6%, after total beverage volumes in the half rose by 2%. And although depreciation of some currencies will impact results, performance so far is “in line with expectations“.
Until today’s rise, the SABMiller share price was bang in line with the FTSE and it looked like it might not extend its 12-year run of beating the index. But after this news the race is on again, with just two and a half months to go.
British Sky Broadcasting
First-quarter results gave British Sky Broadcasting Group a push, sending the price up 52p (6%) to 930p, after subscription services rose 800,000 giving a 50% year-on-year growth. And with 111,000 net new customers, Sky Broadband has now passed the 5 million mark.
The rise in customers gave a 7% boost to revenue, to £1.84bn, although operating profit dipped 8% to £285m and adjusted earnings per share fell 3% to 13p.
Chief executive Jeremy Darroch said that “…we are well placed as we execute a strong set of plans for the rest of the year“.
Man Group
Man Group (LSE: EMG) (NASDAQOTH: MNGPY.US) shares have disappointed this year so far, but got a 2.25p (2.7%) boost to 85.2p from a third-quarter update today.
Funds under management made a modest gain to $52.5m, from $52m at 30 June, with net inflows during the quarter of 0.7bn — movement from investment activities was mildly negative.
Chief executive Manny Roman was cautious, saying “Despite better flows in the third quarter we remain cautious in our outlook for asset flows going forward in the light of continued uncertainty in the macro-economic environment“.