The FTSE 100 (FTSEINDICES: ^FTSE) is up 22 points to hit the not-really-important-at-all 6,700 level by late morning, no doubt pleasing those people who pay attention to such things as “support” and “resistance”. In the real world it doesn’t mean much, other than that the FTSE could well end Christmas week with a second rise in a row, after last week it broke its six-week losing streak.
Which shares are looking good today? Here are three from the FTSE indices making a positive start:
British Sky Broadcasting
When I saw a new release from British Sky Broadcasting Group (LSE: BSY) (NASDAQOTH: BSYBY.US) headed “Jaunt” this morning, I wondered if the board was off on a Christmas day out. But no, the firm has taken a stake in a company called Jaunt, which specialises in early-stage video technology. Sky’s investment amounts to $350,000, with the telly company telling us the deal will “provide Sky with additional insight into developments within the field“.
Sky shares perked up a little, gaining 19p (2.3%) to 831p, helping pull the price back up a bit from its recent slump after BT Group beat Sky in the battle for European football rights.
British Land Company
British Land Company (LSE: BLND) got a small morning boost of 5.5p (1%) to 628.5p after the real estate investment trust announced a new joint venture.
The deal, with investment manager GIC from Singapore, concerns the Broadgate complex in London. At four million square feet, the complex encompasses office, retail and leisure space, and GIC has already agreed to acquire the 50% stake currently owned by Blackstone Real Estate.
For its part in the agreement, British Land will provide asset management, property management and occupier services.
JD Sports Fashion
JD Sports Fashion (LSE: JD) has had a great year, with its share price having more than doubled over the past 12 months — and today the price spiked up another 66p (4.9%) by late morning.
Although there was no further news today, the firm’s first-half results in September were very impressive, and an update at the end of November told us that things were continuing to look good. The Christmas period will be crucial, but City analysts are forecasting an 18% rise in earnings per share for the year ending January 2014, which puts the shares on a fairly undemanding P/E of 13.