BP, British Airways, Chloride Group, Invensys, Lonmin: U.K. Equity Preview
The following is a list of companies whose shares may have unusual price changes in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from the last market close.
BP Plc (BP/ LN): The oil company said it will undertake a so-called “top kill” operation to stanch the leaking Gulf of Mexico well in a few days. The total cost of the clean-up operation has reached $760 million, it said.
British Airways Plc (BAY LN): The airline’s 12,000 cabin crew began a five-day strike, stepping up their protest against Chief Executive Officer Willie Walsh’s plans to cut staffing levels and the wage bill as he seeks to reverse record losses. The shares added 2 pence, or 1.1 percent, to 188.5 pence.
Chloride Group Plc (CHLD LN): Britain’s largest maker of backup power equipment said full-year sales rose to 336 million pounds. The stock rose 5.2 pence, or 1.9 percent, to 284.2 pence.
Cranswick Plc (CWK LN): The foodmaker said full-year net income rose 72 percent in the year ended March 31 to 32.6 million pounds. The shares advanced 5 pence, or 0.6 percent, to 795 pence.
EasyJet Plc (EZJ LN): Europe’s second-biggest discount airline was cut to “equal-weight” from “overweight” at Morgan Stanley. The shares dropped 4.6 pence, or 1.2 percent, to 386.
HSBC Holdings Plc (HSBA LN): Stephen Green plans to step down as executive chairman at Europe’s biggest bank later this year and will be succeeded by John Thornton, the Sunday Telegraph reported, without saying where it obtained the information. The stock fell 2.8 pence, or 0.4 percent, to 629.2 pence.
Invensys Plc (ISYS LN): The U.K. maker of controls that help run Whirlpool Corp. washing machines said full-year revenue fell to 2.24 billion pounds from 2.28 billion pounds a year earlier. The shares climbed 7.2 pence, or 2.6 percent, to 286.3 pence.
Logica Plc (LOG LN): Infosys Technologies Ltd., India’s second-largest software exporter, dismissed as a “rumor” media reports that it is planning to purchase Logica Plc. The stock rose 4.3 pence, or 3.6 percent, to 123.3 pence.
Lonmin Plc (LMI LN): The miner said it will need to increase its toll refining to meet this financial year’s sales target of 700,000 ounces of platinum after a leak occurred during the recommissioning of its Number One furnace. Commissioning may now take another 25 to 30 days, Lonmin said in a statement. The shares added 55 pence, or 3.5 percent, to 1,637 pence.
Prudential Plc (PRU LN): The U.S. Treasury is resurrecting a backup plan to float American International Group Inc.’s AIA Group Ltd., amid concern the U.K. insurer’s takeover of the Asian insurer may fall apart, the Sunday Times reported. The stock rose 0.5 pence, or 0.1 percent, to 517 pence.
Standard Chartered Plc (STAN LN): The British lender that earns at least three-quarters of its profit in Asia plans to raise as much as 27.6 billion rupees by selling shares in India, less than it had previously forecast. The shares fell 5 pence, or 0.3 percent, to 1,613 pence.
United Utilities Group Plc (UU/ LN): Philip Green, chief executive officer of Britain’s biggest publicly traded water company, is expected to step down from the water company before the end of the year, The Sunday Telegraph reported, without saying where it got the information. The stock advanced 3.5 pence, or 0.7 percent, to 530 pence.