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The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
BP PLC (BP.L) – Will buy from ConocoPhillips a 16.5% interest in the BP-operated Clair Oil field, via buying a ConocoPhillips subsidiary yielding a 45.1% interest in Clair and ConocoPhillips will retain a 7.5% interest. It will also sell its entire 39.2% interest in the Greater Kuparuk Area on the North Slope of Alaska. Closing price 580.10p (Dow Jones Newswires)
Ryan Air Holdings PLC (RYA.L) - Pilots directly employed by the company who are members of its Irish trade union will go on strike on July 12 following a union statement the airline had failed to meet demands over new working practices. Closing price 1553.60p (Reuters)
Sainsbury's PLC (SBRY.L) - Registered a slowing of sales growth in Q1, reflecting price cuts in a competitive market. Retail sales, excluding fuel, rose 0.8%, which beat forecasts of 0.2% and like for like sales excluding fuel up 0.2% which was in line with forecasts. CEO Mike Coupe said ‘the market remains competitive, however we have the right strategy in place’. Closing price 319.32p (Dow Jones Newswire / Reuters)
Rolls-Royce Holdings PLC (RR.L) - Has won a $420m contract for military engine-sustainment services, according to a statement from the US Pentagon. Closing price 978.80p (Reuters)
(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)
For more information on any of these individual news items, call into the trading floor
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Prepared by Michael van Dulken, Head of Research