Bloomberg News

Aveva, BAE Systems, HSBC, Gulfsands: U.K., Irish Equity Preview

October 03, 2011

Oct. 3 (Bloomberg) -- 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.

The FTSE 100 Index futures expiring in December declined 2.43 percent to 4,967 at 7:41 a.m. in London. On Sept. 30, the FTSE 100 dropped 68.36 points, or 1.3 percent, to 5,128.48. The FTSE All-Share Index fell 1.3 percent to 2,654.38, while Ireland’s ISEQ Index declined 0.3 percent to 2,503.19.

AMEC Plc (AMEC LN): The consulting, engineering and project management company said it won a design contract valued at an estimated 50 million pounds ($78 million) from GDF Suez’s U.K. exploration unit for its Cygnus gas field development in the North Sea. The shares fell 4.4 percent to 815.5 pence.

Aveva Group Plc (AVV LN): Chief Executive Officer Richard Longdon threatened to move the software engineering company out of the U.K. over business limitations such as the 50 percent tax rate and curbs on immigration, according to the Sunday Telegraph. The stock dropped 3.8 percent to 1,407 pence.

BAE Systems Plc (BA/ LN): Europe’s largest arms company said it has won a U.S. Department of Defense order for 70 M777 howitzers valued at $134 million. The shares fell 0.3 percent to 267.3 pence.

BP Plc (BP/ LN): The London-based company’s $7.1 billion deal to sell Argentine crude producer Pan American Energy LLC is at risk of collapse, jeopardizing China’s biggest energy acquisition this year, according to a person with knowledge of the matter. The stock declined 0.8 percent to 388.50 pence.

Eurasian Natural Resources Corp. (ENRC LN): The Kazakh ferro-alloy producer that held a corporate governance review will start an “informal search” for a new chairman even after the company confirmed incumbent Johannes Sittard’s position on Sept. 28, the Sunday Times reported. The stock was unchanged at 576.5 pence.

Gulfsands Petroleum Plc (GPX LN): The London-based oil explorer said in a statement the Sidi Dhaher-1 well in Tunisia encountered a potential oil column. The well has been suspended while the well’s operator brings in equipment to run a production test. The shares fell 0.3 percent to 185 pence.

HSBC Holdings Plc (HSBA LN): The London-based bank’s China unit has been selected as part of an underwriting group for corporate bonds in China, the National Association of Financial Market Institutional Investors said in a notice on its website.

Separately, Europe’s largest bank may move its headquarters from London to Paris to avoid a requirement that the bank split its retail deposits from corporate operations, according to Lord Myners, the Sunday Telegraph said. The stock slumped 3.1 percent to 496.9 pence.

James Halstead Plc (JHD LN): The U.K.-based provider of flooring products said revenue for the year ended June 30 rose to a record 213.9 million pounds, up 14.8 percent from the previous year. Operating profit rose 6.9 percent to 38.3 million pounds. The company proposed a final dividend per ordinary share of 9.8 pence. The shares fell 0.6 percent to 427.38 pence.

Royal Dutch Shell Plc (RDSA LN): Europe’s largest oil company has declared force majeure, a legal clause exempting it from fulfilling contracts, as it halts units at its biggest oil refinery after the worst fire at the Singapore plant in 23 years. The shares fell 0.5 percent to 2,000 pence.

WM Morrison Supermarkets Plc (MRW LN): The smallest of the four main U.K. supermarket chains may buy Garden Centre Group, the Mail on Sunday reported, without saying where it got the information. The stock gained 1 percent to 290.5 pence.

--With assistance from Peter Levring in Copenhagen. Editors: Srinivasan Sivabalan, Will Hadfield

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

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


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