• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Balfour up after U.S. buy reassurance

Fri Oct 16, 2009 6:43am EDT

Stocks

   

Shares in Balfour Beatty (BALF.L) rise as much as 4 percent after analysts at Cazenove play down recent concerns including the construction group's acquisition of U.S. project management company Parsons Brinckerhoff.

Shares have slipped 12 percent since Balfour announced the $626 million deal in September, which is to be funded by a rights issue.

"This underperformance is unjustified due to a misunderstanding of the acquisition and overplayed concerns regarding the impact of potential UK public sector capex spending cuts," say analysts at Cazenove, retaining an "outpeformance" rating on the stock.

For more on Balfour Beatty, double click on [ID:nLH424263]

Reuters Messaging rm://lorraine.turner.reuters.com@reuters.net


More from Reuters

Photo

Pay czar caps more salaries at bailed out firms

WASHINGTON/NEW YORK (Reuters) - The U.S. pay czar on Friday expanded a crackdown on pay packages at four companies rescued with taxpayer money, limiting most cash salaries at $500,000 for a second tier of top earners.

» More Top News
A model gets prepared backstage ahead of a wedding dress show at China Fashion Week in Beijing
Fashion & Style:

Flowers, church, liposuction?

Brides and grooms are opting for cosmetic surgery and other procedures, supplementing veils and cummerbunds with Botox and liposuction. Women say they want to look good for photos, but men are a different story.  Full Article 

Lifestyle
Sam Worthington and Zoe Saldana as her digital character Neytiri in a scene from "Avatar". Credit: REUTERS/Twentieth Century Fox/Handout

Will Cameron change Hollywood again?

Beyond the hype and buzz, James Cameron's $400 million "Avatar," one of the most expensive films ever made, is being closely watched for its impact on the future of movies.  Full Article 

Entertainment