Balfour Beatty, Bowleven, Daily Mail: 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 41.83, or 0.7 percent, to 5,698.93. The FTSE All-Share Index advanced 0.8 percent, while Ireland’s ISEQ Index fell 1.2 percent.

Balfour Beatty Plc (BBY LN): Goldman Sachs Group Inc. raised its recommendation for the company to “buy” from “neutral.” Separately Balfour Beatty today said it has reached agreement with the trustees of its pension fund for the triennial actuarial funding valuation and recovery plan. The shares were little changed at 273 pence.

BowLeven Plc (BLVN LN): The company is placing 22 million new ordinary shares, representing approximately 11 percent of existing share capital, to finance drilling offshore Cameroon. The shares are being placed by an accelerated bookbuild. The stock rose 6.5 percent to 338 pence.

Daily Mail & General Trust Plc (DMGT LN): UBS AG downgraded the publisher of Britain’s Daily Mail newspaper to “neutral” from “buy.” The stock dropped 3.5 percent to 544.5 pence.

Kingfisher Plc (KGF LN): BofA Merrill Lynch Global Research downgraded the company to “underperform” from “neutral.” The shares rallied 2.2 percent to 249.5 pence.

Ocado Group Plc (OCDO LN): William Morrison Supermarkets Plc (MRW LN) may be mulling a cash bid for the U.K. online grocer, the Daily Mail reported, without citing anyone. Ocado gained 4.1 percent to 145 percent, while Morrison added 0.8 percent to 274 pence.

Standard Chartered Plc (STAN LN): Moody’s Investors Service upgraded the lender’s long-term deposit and senior debt rating to A1 from A2 as well as its Bank Financial Strength Rating to B- from C+. The upgrade reflects Standard Chartered’s improving capitalization, Moody’s said. The shares rose 1.3 percent to 1,792.5 pence.

To contact the reporter responsible for this story: Sarah Jones in London at sjones35@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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