Sunday, September 12, 2010

BAE, Dana, Home Retail, Morrison May Move: U.K., Irish Equity Preview

The following is a list of companies whose shares may have unusual price changes in U.K. and Irish markets. Stock symbols are in parentheses and prices are from the last market close.

The benchmark FTSE 100 Index rose 21.92, or 0.4 percent, to 5,429.74. The FTSE All-Share Index advanced 0.4 percent and Ireland's ISEQ Index fell 0.9 percent.

BAE Systems Plc (BA/ LN): The defense company's Chief Executive Ian King said the U.K. defense ministry asked it to provide a cost of its aircraft-carrier program as officials complete their first defense-policy review since 1998. The shares rose less than 0.1 percent to 323.3 pence.

Dana Petroleum Plc (DNX LN): Korea National Oil Corp. said today that its offer of 1,800 pence per share for Dana is full and final and will not be increased.

Separately, The Financial Times reported that Dana has sent an e-mail to KNOC to say it is still willing to negotiate and agree to a takeover. The newspaper did not cite where the information came from. Dana shares rose 0.1 percent 1,809 pence.

Home Retail Group Plc (HOME LN): The retailer today forecast full year pretax profit of 250 to 275 million pounds which is at the "bottom half" of analyst estimates. The company said the outcome will depend upon trading at its Argos stores during the Christmas period. The shares lost 0.5 percent to 221.4 pence.

HMV Group Plc (HMV LN): The retailer said sales at outlets open at least a year in the U.K. and Ireland fell 14.9 percent in the 19 weeks ended Sept. 4. HMV also said its finance director, Neil Bright, will leave the company in December to join Holidaybreak Plc. The shares rallied 8.1 percent to 66.5 pence.

Lloyds Banking Group Plc (LLOY LN): Barclays Capital raised its recommendation for the U.K.'s largest mortgage lender to "equal-weight" from "underweight." The stock slid 0.3 percent to 72.32 pence.

Redrow Plc (RDW LN): The homebuilder reported a full year profit of 500,000 pounds for 2010 compared with a year-earlier loss as revenue increased. The shares climbed 2.6 percent to 130.3 pence.

Resolution Ltd. (RSL LN), Tomkins Plc (TOMK LN) and Weir Group Plc (WEIR LN) will join the U.K.'s benchmark FTSE 100 Index, FTSE Group said today in an e-mailed statement. The companies will replace Cable & Wireless Worldwide Plc, Home Retail and Segro Plc (SGRO LN) from the close of trading on Sept. 17, FTSE said.

Resolution shares lost 1.7 percent to 247 pence.

Royal Dutch Shell Plc (RDSA LN): Ukraine is in talks with Exxon Mobil Corp., Chevron Corp. and Shell on exploring for natural gas in the country's Black Sea, the country's deputy fuel and energy minister said. The stock advanced 0.6 percent to 1,814.5 pence.

SABMiller Plc (SAB LN): Foster's Group Ltd. may attract buyout offers from rival brewers including SABMiller after an offer for its winemaking unit showed interest from bidders in breaking up the company.

SABMiller is working with JPMorgan Chase & Co. to study Foster's beer business, Australia's largest, according to a person with direct knowledge of the matter, who declined to be identified because the talks are private.

No comments:

Post a Comment