Logica, Imarsat, Old Mutual, Rio Tinto, RBS: 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.
Inmarsat Plc (ISAT LN): The world’s biggest provider of satellite services to the maritime and aviation industries reported a 14 percent gain in earnings before interest, taxes, depreciation and amortization to $168.6 million. The company also signed a contract with Boeing Co. for the delivery of three satellites. The shares fell 1.3 percent to 713 pence.
Lonmin Plc (LMI LN): The world’s third-biggest platinum producer will “vigorously contest” a South African government order to halt sales of non-platinum group metals, according to a statement from the company. The stock declined 1 percent to 1,640 pence.
Old Mutual Plc (OML LN): The biggest insurer in Africa returned to profit during the first-half, posting net income of 265 million pounds compared with a loss of 70 million pounds a year earlier. The company also agreed to sell its U.S. life operations to Harbinger Capital Partners for $350 million. The stock advanced 1.6 percent to 123.6 pence.
Rio Tinto Group (RIO LN): The world’s third-largest mining company shelved the planned sale of its Alcan cable unit to Platinum Equity LLC and is waiting for the market to improve before reconsidering the plan. The stock climbed 0.5 percent to 3,430 pence.
Royal Bank of Scotland Group Plc (RBS LN): Britain’s biggest government-owned bank swung into profit for the first time since 2007 as impairments plunged. Net income was 9 million pounds ($14 million) in the first six months of the year, compared with a loss of 1.04 billion pounds a year earlier. That beat the 47 million pound loss that was the median estimate of six analysts in a Bloomberg survey. The shares fell 0.2 percent to 52 pence.
Tomkins Plc (TOMK LN): The British auto-parts maker that’s the target of a takeover offer from Canada Pension Plan Investment Board and Onex Corp. reported first-half net income of $170.1 million, compared with a loss of $123.9 million a year earlier. The shares declined 0.4 percent to 321.3 pence.