Lloyds, Man Group, BG, Wolseley: U.K., Irish Equity Preview
The following is a list of companies that may have unusual share-price changes in U.K. and Irish markets. Stock symbols are in parentheses and prices are from the last market close.
Futures on the benchmark FTSE 100 Index (UKX) in June climbed 0.2 percent to 5,869 at 7:45 a.m. in London. Yesterday the FTSE 100 rose 3.73, or 0.1 percent, to 5,904.49. The FTSE All-Share Index (ASX) gained 0.1 percent, while Ireland’s ISEQ Index advanced 0.9 percent.
Afren Plc (AFR) : The U.K. oil and gas explorer reported full-year profit after tax of $45.9 million, compared with a loss of $16.8 million in 2009. The stock advanced 2.2 percent to 164 pence.
BG Group Plc (BG/) : The UK’s third-largest natural-gas producer is preparing to export oil from Brazil as the Latin American country becomes the company’s key source of crude in the coming decade. The stock gained 0.3 percent to 1,537.5 pence.
CPP Group Plc (CPP) : The U.K. company that sells credit card theft-protection policies said it’s in discussions with the Financial Services Authority about “certain issues” to do with the sale of the group’s card protection and identity protection products. The shares jumped 3.4 percent to 280 pence.
Hochschild Mining Plc (HOC) : The producer of precious metals focused on Peru said full-year adjusted earnings before interest, taxes, depreciation and amortization rose 59 percent to $397.7 million. The shares fell 1.6 percent to 646.5 pence.
Lloyds Banking Group Plc (LLOY) : Britain’s biggest mortgage lender hired banks including JPMorgan Chase & Co. and Citigroup Inc. to manage the sale of 600 branches, two people with knowledge of the decision said. The stock advanced 0.9 percent to 60.6 pence.
Man Group Plc (EMG) : The hedge fund manager forecast that full-year pretax profit will decline to $213 million from $541 million. Funds under management rose to $69 billion at March 31 from $68.6 billion at Dec. 31, the hedge fund manager said in a statement today. The shares lost 2.2 percent to 244.5 pence.
Phoenix Group Holdings (PGH) : The U.K.’s biggest manager of closed life-insurance funds posted full-year assets under management of 67.5 billion pounds ($108.2 billion) and disclosed new financial targets. The company commented today in a statement on RNS newswire. The stock added 0.7 percent to 677.5 pence.
Rexam Plc (REX) : The world’s largest beverage-can maker said Chief Executive Officer Graham Chipchase earned 1.7 million pounds in salary, benefits and bonus in 2010, a 79 percent increase from 2009, according to the company’s annual report published on its website today. The shares dropped 0.9 percent to 366 pence.
TUI Travel Plc (TT/) : Europe’s largest tour operator proposed terms on credit facilities totaling as much as 1.175 billion pounds, according to two people with direct knowledge of the deal. The stock rose 0.6 percent to 227.3 pence.
Wolseley Plc (WOS) : The world’s largest supplier of heating and plumbing products reported a 64 percent jump in fiscal first-half earnings to 275 million pounds after cutting costs and benefiting from higher sales volumes. CA Cheuvreux analysts had predicted so-called trading profit of 241 million pounds, while Liberum Capital Ltd. had estimated 235 million pounds. The shares gained 0.4 percent to 2,089 pence.
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