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AstraZeneca, BAE Systems, BP, Glaxo, Serco: 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 45.72, or 0.9 percent, to 5,201.56 on Aug. 27. The FTSE All-Share Index rose 0.9 percent on Aug. 27 and Ireland’s ISEQ Index fell 0.1 percent on Aug. 30.
Afren Plc (AFR LN): The U.K. oil and gas explorer focused on West Africa said first-half profit rose to $50.7 million from $38.5 million a year earlier on higher crude oil prices. The stock rose 1.1 percent to 101 pence.
AstraZeneca Plc (AZN LN): The drugmaker failed to win U.S. clearance to sell motavizumab, a new drug intended to succeed the $1 billion-a-year respiratory medicine Synagis, which loses patent protection in five years. The shares rose 0.8 percent to 3,241 pence.
BAE Systems Plc (BA/ LN): Europe’s largest defense company has been awarded a $629 million order under the Navy Pact, according to the U.S. Department of Defense. The shares fell 1.2 percent to 296.5 pence.
BP Plc (BP/ LN): The oil company’s removal of the capping stack and blowout preventer at its Gulf of Mexico well will be delayed for as long as three days because of high seas, National Incident Commander Thad Allen said. The shares fell 1.5 percent to 379.65 pence.
Bunzl Plc (BNZL LN): The biggest U.K. supplier of vending machines said first-half revenue rose to 2.35 billion pounds ($3.6 billion) from 2.29 billion pounds for the same period a year earlier. The stock gained 2.5 percent to 702 pence.
GlaxoSmithKline Plc (GSK LN): The British drugmaker and Valeant Pharmaceuticals International may have to wait an extra three months for a review of their experimental epilepsy medicine after U.S. regulators sought more time to study data.
The Food and Drug Administration pushed back the targeted date under the Prescription Drug User Fee Act to review ezogabine to Nov. 30 from Aug. 30. Glaxo shares rose 1.3 percent to 1,225.5 pence.
Grafton Group Plc (GN5 ID): Ireland’s biggest builders’ merchant reported a first-half operating profit of 14.8 million euros ($18.7 million) compared with an 8.3 million-euro loss a year earlier, helped by a doubling of profit in the U.K. merchanting business. Revenue was 979 million euros and the company will pay a 2.5 cents a share dividend. The stock fell 0.6 percent to 2.55 euros.
Kerry Group Plc (KYG ID): Ireland’s largest food company raised its full-year earnings forecast to target “mid-teen” growth in adjusted earnings per share, citing a “strong” performance so far in 2010. The stock fell 0.6 percent to 24.60 euros.
Serco Group Plc (SRP LN): BofA Merrill Lynch Global Research downgraded the operator of London’s Docklands Light Railway to “neutral” from “buy.” The shares rose 1.4 percent to 597 pence.
To contact the reporters on this story: Sakshi Sharma in London at ssharma121@bloomberg.net; Sarah Jones in London at sjones35@bloomberg.net.
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