LONDON MARKETS: Vodafone Shares Surge On Possible Tower IPO As Anglo American Hit By Stake Sale
26 Luglio 2019 - 03:58PM
Dow Jones News
By Steve Goldstein, MarketWatch
Vodafone Group rallied after outlining plans to possibly sell
its portfolio of 61,700 towers, bolstering London stocks on
Friday.
The U.K. FTSE 100 rose 0.6% to 7,534.17, and the mid-cap FTSE
250 gained 0.2% to 19,856.70.
What's moving markets
Earnings beats for Google owner Alphabet and Intel helped lift
U.S. stocks on Friday, as second-quarter U.S. GDP topped estimates.
Earnings also helped lift the fortunes of Europe stocks on Friday
(http://www.marketwatch.com/story/earnings-help-europe-stocks-rebound-with-vodafone-and-vivendi-rallying-2019-07-26).
Focus stocks
Vodafone Group (VOD.LN) (VOD.LN) shares jumped nearly 10% as the
mobile phone giant set out plans to separate its European tower
infrastructure business
(http://www.marketwatch.com/story/vodafone-to-split-off-europe-tower-unit-2019-07-26),
possibly by an initial public offering.
George Salmon, an equity analyst at Hargreaves Lansdown, said
the stake stale could net Vodafone about 14 billion to 15 billion
euros from the stake sale -- enough to halve Vodafone's net
debt.
Vodafone also reported a slight decline in fiscal first-quarter
revenue and confirmed its earnings guidance.
Pearson (PSON.LN) shares rose 6%, as the educational publisher
lifted its adjusted earnings per share guidance for the year
(http://www.marketwatch.com/story/pearson-lifts-guidance-for-the-year-2019-07-26),
helped by lower finance charges and taxes than anticipated and
sales growth at its online degree program unit.
Anglo American shares (AAL.LN) tumbled 4% as the miner's largest
shareholder, Indian tycoon Anil Agarwal, announced a stake sale
late on Thursday. Agarwal has pushed Anglo American to refocus on
South Africa and position itself for new opportunities in
India.
(END) Dow Jones Newswires
July 26, 2019 09:43 ET (13:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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