U.K. stocks rose as a surge in first- half earnings boosted Tesco Plc and TUI Travel Plc said bookings for the winter had strengthened, offsetting a slump at Inmarsat Plc.
Tesco, the U.K.’s largest retailer, gained 1.2 percent and TUI Travel rallied 3.6 percent. Inmarsat sank 3.4 percent after Philip Falcone’s Harbinger Capital Partners said it will sell part of its holding and won’t make an offer for the rest of the company.
The benchmark FTSE 100 Index climbed 11.54, or 0.2 percent, to 5,567.51 as of 8:47 a.m. in London. The measure has rallied 16 percent since this year’s low in July as investors speculated that the world economy will avoid another recession even as European governments slash spending and U.S. growth slows. The FTSE All-Share Index advanced 0.2 percent and Ireland’s ISEQ Index rose 0.3 percent.
Tesco gained 1.2 percent to 435.45 pence. The retailer reported a 9.1 percent gain in first-half earnings as sales improved at its international division and said its money-losing U.S. Fresh & Easy unit will be profitable in fiscal 2013.
TUI Travel rose 3.6 percent to 224.7 pence. The travel company said in a statement today that bookings for winter 2010/2011 have “further strengthened,” and that full-year results will be “in line with previous guidance.” Net debt is expected to be lower than guidance, the company said.
Inmarsat lost 3.4 percent to 633 pence. Falcone’s Harbinger Capital sold 65 million ordinary shares of Inmarsat, or 14.1 percent of the company, for 410 million pounds.
Kazakhmys Plc declined 2.4 percent to 1,389 pence. The company said it may sell shares in Hong Kong. Also, Chairman Vladimir Kim sold an interest in 58.9 million ordinary 20-pence shares, representing about 11 percent of the shares in issue.
To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net.
To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.
http://jodnet.blogspot.com
Tesco, the U.K.’s largest retailer, gained 1.2 percent and TUI Travel rallied 3.6 percent. Inmarsat sank 3.4 percent after Philip Falcone’s Harbinger Capital Partners said it will sell part of its holding and won’t make an offer for the rest of the company.
The benchmark FTSE 100 Index climbed 11.54, or 0.2 percent, to 5,567.51 as of 8:47 a.m. in London. The measure has rallied 16 percent since this year’s low in July as investors speculated that the world economy will avoid another recession even as European governments slash spending and U.S. growth slows. The FTSE All-Share Index advanced 0.2 percent and Ireland’s ISEQ Index rose 0.3 percent.
Tesco gained 1.2 percent to 435.45 pence. The retailer reported a 9.1 percent gain in first-half earnings as sales improved at its international division and said its money-losing U.S. Fresh & Easy unit will be profitable in fiscal 2013.
TUI Travel rose 3.6 percent to 224.7 pence. The travel company said in a statement today that bookings for winter 2010/2011 have “further strengthened,” and that full-year results will be “in line with previous guidance.” Net debt is expected to be lower than guidance, the company said.
Inmarsat lost 3.4 percent to 633 pence. Falcone’s Harbinger Capital sold 65 million ordinary shares of Inmarsat, or 14.1 percent of the company, for 410 million pounds.
Kazakhmys Plc declined 2.4 percent to 1,389 pence. The company said it may sell shares in Hong Kong. Also, Chairman Vladimir Kim sold an interest in 58.9 million ordinary 20-pence shares, representing about 11 percent of the shares in issue.
To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net.
To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.
http://jodnet.blogspot.com
0 التعليقات
Post a Comment