BAT, BP, British Airways, Burberry, Vodafone: 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.
BP Plc (BP/ LN): The company installed a new cap on its leaking Gulf of Mexico oil well and will start testing today to see whether this will stop the gusher while work continues on a permanent plug.
The Macondo well has been spewing as much as 60,000 barrels of oil a day into the ocean, according to a government estimate, since an April 20 drilling-rig explosion that killed 11 workers.
Separately, BP has delayed drilling its first well at the Liberty project in Alaska until next year, while the Financial Times reported that BP expects to be able to write off the oil- spill cleanup costs against taxes, without saying where it got the information.
The shares advanced 9.4 percent to 398.95 pence.
British Airways Plc (BAY LN): The airline’s cabin-crew union will today lobby shareholders to press Chief Executive Officer Willie Walsh for a compromise in an 18-month dispute over pay and staffing levels.
The Unite union will distribute a letter to shareholders outside today’s meeting at the Queen Elizabeth II Conference Centre in central London seeking “an end to management by conflict,” the union said yesterday.
The shares fell 1 percent to 204.7 pence.
British American Tobacco Plc (BATS LN): Goldman Sachs Group Inc. raised its recommendation for the shares to “buy” from “neutral.” The stock gained 0.5 percent to 2,219 pence.
Burberry Group Plc (BRBY LN): The U.K.’s largest luxury company reported a 27 percent rise in revenue in the three months to June to 291 million pounds ($436 million). The stock fell 0.6 percent to 789.5 pence.
Intermediate Capital Group Plc (ICP LN): The company said it remains on track to deploy 150 million pounds to 200 million pounds in the financial year. The shares rose 0.5 percent to 265.9 pence.
Northern Foods Plc (NFDS LN): The U.K. maker of Goodfella’s pizza reported a 1.6 percent fall in like-for-like sales in the first quarter and said trading is “as expected.” The stock rose 1.6 percent to 46.75 pence.
Unilever Plc (ULVR LN): Goldman raised its recommendation or the shares to “conviction buy” from “neutral.” The stock gained 0.5 percent to 1,844 pence.
Vodafone Group Plc (VOD LN): The world’s biggest mobile- phone operator and Telefonica SA’s O2 unit said proposed cuts in some U.K. mobile-phone fees may lead to higher charges for handsets and calls, forcing as many as 4 million customers to give up their phones. The shares fell 0.1 percent to 143.4 pence.