International Power Drops; BA Strike Looms

123jump.com Staff
18 Jan, 2010
New York City

International Power dropped 4% after it terminated its talks with GDF Suez. The second largest UK home builder Taylor Wimpey Plc home sales declined 24% in the last year and average price declined 6.5%. BA Plc cabin crew is scheduled to vote next week on strike action.

[R]4:00 PM London, 11:00 AM New York – International Power dropped 4% after it terminated its talks with GDF Suez. The second largest UK home builder Taylor Wimpey Plc home sales declined 24% in the last year and average price declined 6.5%. BA Plc cabin crew is scheduled to vote next week on strike action.[/R]

In London FTSE 100 Index closed higher 41.28 or 0.76% to 5,496.65 and the pound edged higher to close at $1.631 and at €1.134.

Gainers & Losers

ASOS plc decreased 4.8% to 445.25 pence an online fashion retailer said sales rose 30% from a year ago in five weeks to January 3 and were up 38% for the 42 weeks to January 17. UK sales rose 25% and international sales surged 102% over the 42-week period. Gross margin rose 80 basis points for the 5-week period while active customers soared 25% to 1.5 million.

Bunzl plc closed unchanged at 640.50 pence after the distribution and outsourcing firm today announces that it has acquired Clean Care A/S from a privately owned company which is controlled by Jan Knygle and Ole Bæk.

Craneware plc dropped 4.8% to 346.00 pence after the hospital management software supplier announced that for the first half of 2010, it expects to report results in line with management expectations, with revenue growth exceeding 23%, profit before share based payments, depreciation and amortization is expected to increase 30%.

Experian PLC added 0.7% to 608.00 pence an information services company said third quarter revenues rose 2% at constant exchange rates. Group organic revenue rose 1% year-on-year.

International Power plc dropped 4.6% to 308.30 pence an independent power generation company said it is no longer in “ongoing discussion” with France based GDF Suez SA for a possible asset swap. The trading volume surged to six times its normal volume as speculators betting for the deal between the companies exited the stock.

Media Corporation plc surged 21.6% to 3.26 pence an Internet media and advertising group said first quarter revenues rose 360% to £4.6 million from £1.0 million a year ago. Pre-tax profit for the first-half fell 18% to £0.37 million compared to pre-tax profit of £0.45 million a year ago.

Pennon Group Plc rose 0.9% to 537.00 pence.

Redrow plc fell 0.9% to 135.50 pence and the home builder announced the appointment of Barbara Richmond as Group Finance Director.

SDL plc closed unchanged at 450 pence after the data management specialist today announces the acquisition of Fredhopper.

Taylor Wimpey plc dropped 2.0% to 40.80 pence after the house builder said that “market conditions in both the UK and North America during 2009 were better than those experienced during 2008 although they still remained challenging.”

At the end of the year net debt has been reduced to £750 million and substantially below the £1,529 million at December 31, 2008.

Tullow Oil plc an independent oil and gas explorer added 1.3% to 1,357.00 pence.