HSBC, Northern Rock, Pennon, Smiths: U.K., Irish Stock Preview
By Tim Barwell
Feb. 11 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in the U.K. and Irish markets. Stock symbols are in parentheses after company names, and prices are from the last close.
The FTSE 100 Index rose 59.9, or 1.1 percent, to 5,784. The FTSE All-Share Index added 1 percent to 2,956.6 and Ireland's ISEQ Index gained 1.3 percent to 6,537.91.
U.K. Companies:
Diageo Plc (DGE LN): The world's biggest liquor maker sold 4 percent less Guinness stout in Ireland in 2007 than in 2006, the Sunday Independent reported, citing data from research company AC Nielsen. The shares advanced 8 pence, or 0.8 percent, to 1021.
Fidessa Group Plc (FDSA LN): The U.K. supplier of financial software is reporting results. The stock rose 34.5 pence, or 4.8 percent, to 750.
FKI Plc (FKI LN): Blackstone Group LP, the U.S. private- equity firm, is considering a new bid for FKI, the Independent reported without saying where it got the information. The shares slid 0.75 pence, or 1.2 percent, to 64.75.
Friends Provident Plc (FP/ LN): The U.K. life insurer rejected the latest approach by U.S. buyout firm J.C. Flowers & Co. to buy all or part of the company because it was too vague, the Sunday Times reported. The shares lost 0.4 pence, or 0.3 percent, to 131.2.
GCap Media Plc (GCAP LN): Chief Executive Officer Fru Hazlitt will try to convince shareholders that a plan to overhaul the company is superior to a takeover by Global Radio Holdings Ltd. the Financial Times reported, citing analysts. The shares slipped 0.75 pence, or 0.4 percent, to 189.75.
HSBC Holdings Plc (HSBA LN): Europe's largest bank is trying to sell about half its 800-strong French branch network to meet demands from a ``rebel'' investor, the Sunday Telegraph reported, without saying where it got the information. The shares rose 6.5 pence, or 0.9 percent, to 737.
Mitchells & Butlers Plc (MAB LN): Trevor Hemmings, a leisure entrepreneur, bought a 3 percent stake in Mitchells & Butlers, which is the target of a 2 billion pound ($4 billion) takeover bid from Punch Taverns Plc, the Financial Times reported.
Separately, the pub owner is considering asset swaps and property sales after a 275 million-pound ($535 million) loss on interest-rate and inflation hedges, the Sunday Telegraph reported. The stock climbed 4.75 pence, or 1.1 percent, to 451.75.
Northern Rock Plc (NRK LN): Investors including Legal & General Group Plc, RAB Capital Plc and SRM Advisers are growing concerned about terms of the Virgin Group Ltd.-led bid for the bank, the Sunday Times reported.
Separately, The Royal Bank of Scotland Group Plc, Barclays Plc and Citigroup Inc. offered to securitize half of the Bank of England's emergency loan to Northern Rock, the Sunday Telegraph reported, citing sources it didn't identify.
Also, Northern Rock's management has decided to raise the amount of equity in its proposed buyout of the bank to 700 million pounds ($1.36 billion) the Daily Mail newspaper reported, without saying where it got the information.
The shares dropped 4 pence, or 3.9 percent, to 98.
Pennon Group Plc (PNN LN): The water supplier to 1.6 million people in southwest England is releasing a trading update. The shares dropped 5 pence, or 0.8 percent, to 659.
Prudential Plc (PRU LN): Mark Wood, chief executive officer of U.K. insurer Paternoster Ltd., may have been approached by investment banks considering plans to break up Prudential, the Daily Telegraph reported, citing people familiar with the matter. The shares advanced 15 pence, or 2.5 percent, to 606.
Rio Tinto Plc (RIO LN): Rio Tinto Ltd. Chairman Paul Skinner said shareholders should take no action on an unsolicited takeover bid by Melbourne-based BHP Billiton Ltd., which would create the world's biggest producer of copper. The shares added 110 pence, or 2.1 percent, to 5332.
Silverjet Plc (SIL LN): David and Simon Reuben are abandoning plans to convert a loan into an equity stake in Silverjet, the business-class-only airline that started flights in January, the Financial Times said, without attribution. The shares dropped 1.5 pence, or 5.9 percent, to 24.
Smiths Group Plc (SMIN LN): The world's biggest maker of airport-security scanners is releasing a trading update. The stock lost 12 pence, or 1.3 percent, to 947.5.
St. Modwen Properties Plc (SMP LN): The U.K. company that regenerates town centers and industrial areas is reporting earnings. The shares advanced 10.5 pence, or 2.2 percent, to 482.25.
Standard Chartered Plc (STAN LN): Temasek Holdings Pte, Singapore's state investment agency, plans to raise its stake in Standard Chartered, the Observer said. The shares added 18 pence, or 1.2 percent, to 1567.
Workspace Group Plc (WKP LN): The landlord to more than 4,000 small companies in southeast England is reporting earnings. The shares climbed 8.5 pence, or 3.2 percent, to 275.5.
Irish Companies:
Iona Technologies Plc (ITP ID): Software AG, Germany's second-largest software maker, made a preliminary takeover approach for Ireland's Iona Technologies, the Sunday Times reported, without citing anyone. The shares surged 37 cents, or 18.5 percent, to 2.37 euros.
Irish Life & Permanent Plc (IPM ID): Merrill Lynch & Co. may exit its Irish subprime joint venture with Irish Life & Permanent, Ireland's largest life insurer, the Sunday Independent reported, without saying where it got the information. The shares retreated 15 cents, or 1.4 percent, to 10.30 euros.
Greencore Group Plc (GNC ID): Exista hf, which owns Icelandic food supplier Bakkavor Group hf, bought over 8 percent of Greencore Group, the world's biggest maker of prepared sandwiches, the Irish Independent reported, without citing anyone. The stock surged 27 cents, or 7.2 percent, to 4 euros.
To contact the reporter on this story: Tim Barwell in London tbarwell@bloomberg.net
Last Updated: February 10, 2008 22:03 EST |