BG and Ophir Discover Gas in Tanzania, Ted Baker Net Soars

Nigel Thomas
02 Oct, 2014
New York City

Balfour Beatty divests 50% stake in hospitals projects for

[R]4:00 PM Frankfurt – Balfour Beatty divests 50% stake in hospitals projects for £62 million. DQ Entertainment surged after the company signed a six-year content distribution agreement with China-based Ciwen Kids. BG Group and Ophir Energy discovered gas off the coast of Tanzania. Ted Baker net soared.[/R]

In London trading, FTSE 100 index slipped 0.7% or 47.52 to 6,510 and in Frankfurt the DAX index dropped 1% or 90.45 to 9,291.58.

In Paris, CAC 40 index declined 1.6% or 70.28 to 4,294.99.

Balfour Beatty Plc declined 3.1% to 179.40 pence after the U.K.-based construction company said it would divest 50% stake in public-private partnership in hospitals projects for £61.5 million or $100 million.

Yesterday, the company announced it would take additional losses of £75 million in U.K. based construction projects and issued its fifth profit warning in two years.

DQ Entertainment Plc surged 13.1% to 9.90 pence after the U.K.-based animated TV contents producer signed six-year content distribution agreement with China-based Ciwen Media Group China and increase its reach in Hong Kong and Macau.

Ophir Energy Plc jumped 2.4% to 226.30 pence after the U.K.-based oil and gas explorer said BG Group Plc has withdrawn from the Block 3 gas license in Tanzania and plans to increase its stake to 80% form 20% in the Block 4 after the discovery of 1.03 trillion cubic feet of natural gas.

Ted Baker Plc rose 0.4% to 1,869.18 pence after the U.K.-based apparel retailer said group revenue in the first-half ending in August climbed 17.4% to £182.2 million from £155.2 million a year ago period.

Profit in the period soared 32.4% from a year ago to £11.4 million compared to £8.61 and diluted earnings per share jumped to 25.8 pence from 19.6 pence.

Xtract Resources Plc soared 17% to 0.20 pence after the U.K.-based oil and gas explorer agreed to sell the Mejillones phosphate deposit to Mines Global for £400,000. The project was acquired in Chile in February 2014.