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ABF, ARM Holdings, Barclays, BP: U.K., Irish Equity Preview

April 27 (Bloomberg) -- Shares of the following companies may have unusual moves in U.K. and Ireland trading. Stock symbols are in parentheses and prices are from the last close.

The benchmark FTSE 100 Index rose 0.9 percent to 6,069.36. The FTSE All-Share Index rose 0.8 percent, while Ireland’s ISEQ Index advanced 0.7 percent.

Associated British Foods (ABF LN): The owner of Primark clothing stores said it now expects full-year adjusted earnings to be similar to last year’s result as margins at its Primark unit will be lower than previously planned in the second half. The shares rose 0.5 percent to 1,045 pence.

ARM Holdings (ARM LN): The U.K. designer of chips that help power Apple Inc.’s iPhone said first-quarter sales rose 26 percent to 116 million pounds.

Analysts had estimated revenue of 111 million pounds, according to a Bloomberg survey. The stock increased 3.4 percent to 625.5 pence.

Barclays Plc (BARC LN): The U.K.’s third-biggest bank by assets said earnings fell 5 percent to 1.01 billion pounds ($1.67 billion) in the first quarter, as revenue from its investment banking unit declined by 15 percent. Analysts estimated the lender would post a profit of 1.21 billion pounds, according to four surveyed by Bloomberg. The shares rose 1 percent to 301.85 pence.

BP Plc (BP/ LN): Europe’s second-biggest oil company said profit, excluding one-time items and inventory changes, declined 4 percent in the first quarter to $5.37 billion after it sold off more than $24 billion of assets to help pay for the Gulf of Mexico spill. BP was expected to earn $5.6 billion, according to the mean estimate of seven analysts surveyed by Bloomberg. Production in the quarter dropped 11 percent. The stock rose 0.8 percent to 464.2 pence.

HSBC Holdings Plc (HSBA LN): Europe’s largest bank said it will eliminate jobs in the Middle East and Africa. Less than 3 percent of its 12,000-strong workforce in the region will be affected, the bank said today in an e-mailed statement. The shares were unchanged at 659.6 pence.

To contact the reporters on this story: John Simpson in Toronto at jsimpson12@bloomberg.net; Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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