Cairn, Vedanta, RBS, Southern Cross: 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 gained 0.2 percent to 5,916. The FTSE 100 advanced 89.76, or 1.5 percent, to 5,945.71 yesterday. The FTSE All-Share Index rose 1.5 percent to 3,096.72, while Ireland’s ISEQ Index increased 0.4 percent to 2,953.29.
Archipelago Resources Plc (AR/) : The developer of the Toka Tindung gold project in North Sulawesi, Indonesia reported a net loss for 2010 of $11.6 million, compared with a loss of $2.56 million in 2009. The shares added 0.2 percent to 61.8 pence.
Bwin.Party Digital Entertainment Plc (BPTY LN): Bwin.Party and Groupe Amaury have held talks to merge their French online betting sites, French daily La Tribune reported, citing an unidentified person at Amaury. The stock climbed 1.2 percent to 150 pence.
Cairn Energy Plc (CNE) and Vedanta Resources Plc (VED) : Vedanta Resources won approval from India’s cabinet to take control of Cairn Energy’s local unit provided that Cairn India withdraws its arbitration against the government over a tax on crude oil sales. Cairn’s shares gained 2.1 percent to 414.8 pence, while Vedanta’s stock climbed 3.1 percent to 2,094 pence.
John Wood Group (WG/ LN): The stock was raised to “buy” from “neutral” at Goldman Sachs Group Inc. The shares advanced 1.6 percent to 647.5 pence.
Home Retail Group Plc (HOME) : The owner of the Argos catalog stores said 9.03 percent of shareholders voted against its remuneration report at the annual general meeting in Milton Keynes, England. The shares jumped 2.3 percent to 163.7 pence.
Lloyds Banking Group Plc (LLOY) : The stock was raised to “hold” from “sell” at UniCredit SpA. The shares jumped 9.7 percent to 49 pence.
London Stock Exchange group Plc (LSE) : Middle East investors who hold more than 35 percent of LSE indicated that they aren’t selling, even though the shares soared yesterday as investors speculated that the exchange may become a takeover target, the Daily Telegraph reported, citing people familiar with the investors. The stock surged 11 percent to 1,061 pence.
Northumbrian Water Group Plc (NWG) : The company said it received an indicative proposal for a cash offer from Cheung Kong Infrastructure Holding Ltd. There can be no certainty that CKI will make an offer, according to a statement today. The stock rose 0.6 percent to 415.6 pence.
Ocado Group Plc (OCDO) : The U.K.’s biggest independent online grocer said Joern Rausing bought 2 million ordinary shares at the price of 1.60 pound per share. The stock fell 1.2 percent to 182.3 pence.
Royal Bank of Scotland Group Plc (RBS) : Lehman Brothers Holdings Inc.’s brokerage seeks $346 million from Royal Bank of Scotland Group Plc, according to a court filing. ABN Amro, which is now owned by RBS, owes the money under a 1998 swap agreement, according to a filing at the U.S. Bankruptcy Court in Manhattan. The shares climbed 4.6 percent to 38.5 pence.
Southern Cross Healthcare Plc (SCHE LN): The U.K. care-home provider agreed with its lenders to extend its banking facilities through July, it said in a statement. The stock jumped 8.3 percent to 7.9 pence.
Vodafone Group Plc (VOD) : The telecommunications company’s Chief Financial Officer Andy Halford said that the Indian authorities may double its $2.5 billion tax bill, the Financial Times reported, citing an interview. The shares fell 0.1 percent to 165.3 pence.
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