BP, Burberry, EasyJet, Lonmin, C&W: 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 23.54, or 0.4 percent, to 5,820.41. The FTSE All-Share Index also advanced 0.4 percent, while Ireland’s ISEQ Index rose 0.8 percent.
BP Plc (BP/ LN): Billionaire oil investor T. Boone Pickens bought shares of BP, the owner of the well that caused the biggest offshore U.S. crude spill in history, and sold his holdings in Transocean Ltd., which owned the drilling rig that exploded, according to a regulatory filing. The shares rose 0.6 percent to 448.7 pence.
British Land Co. (BLND LN): The U.K.’s second-largest real estate investment trust reported a 3.7 percent increase in second-quarter profit after the company’s shopping centers and office properties appreciated. The stock advanced 0.8 percent to 507 pence.
Burberry Group Plc (BRBY LN): The U.K.’s largest luxury retailer raised its interim dividend after first-half profit surged, helped by demand for more expensive items in Asia. The shares rose 1.6 percent to 1,020 pence.
Cable & Wireless Worldwide Plc (CW/ LN): The company reported first-half net income of 87 million pounds, from 51 million pounds last year. The shares rose 0.8 percent to 69.1 pence.
EasyJet Plc (EZJ LN): Chief Executive Officer Carolyn McCall said Europe’s second-largest discount airline plans to pay its first-ever dividend after a rebound in demand for travel boosted full-year profit 70 percent.
Net income rose to 121.3 million pounds ($195 million) in the 12 months ended Sept. 30 from 71.2 million pounds a year earlier. Analysts had anticipated a profit of 114 million pounds. The stock rose 1.3 percent to 472.1 pence.
Enterprise Inns Plc (ETI LN): The U.K.’s second-biggest pub owner said full-year net income climbed to 26 million pounds, from 6 million pounds a year earlier. The shares fell 1.1 percent to 109.6 pence.
Lonmin Plc (LMI LN): JPMorgan Chase & Co. raised its recommendation for the third-largest platinum producer to “neutral” from “underweight.” The company yesterday beat fiscal full-year profit estimates and resumed dividend payments as demand for metals and prices rose. The shares rose 4 percent to 1,838 pence.
Premier Oil Plc (PMO LN): The natural gas explorer maintained its production guidance for 2010 at around 44,000 barrels of oil equivalent a day.
Separately, analysts at UBS AG said a takeover offer for Premier Oil may exceed 1,986 pence a share. The company yesterday denied a report that Korea National Oil Corp. had approached the company. The stock rallied 3.5 percent to 1,860 pence.
Sportingbet Plc (SBT LN): The Guernsey-based Internet gambling company said none of the discussions it is in with different parties relating to potential opportunities currently contemplate an offer for the company for the purposes of the City Code on Takeovers and Mergers. The stock rose 8.3 percent to 63.3 pence.
Standard Life Plc (SL/ LN): Morgan Stanley lowered its recommendation for the insurer to “underweight” from “equal weight.” The stock was little changed at 225.9 pence.
Vedanta Resources Plc (VED LN): The company said it will seek to admit Konkola Resources Plc to the Official List of the U.K. Financial Services Authority and to trading on the London Stock Exchange’s main market. Vedanta will remain a majority shareholder in the newly listed company, it said. Vedanta shares rose 0.7 percent to 2,280 pence.
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