PRESS DIGEST - Financial Times - Oct 21

PRUDENTIAL CONSIDERS SEPARATE ASIA LISTING

UK insurer Prudential (PRU.L) is thought to be conducting a preliminary assessment of the likely benefits of a separate listing in Shanghai or Hong Kong.

The firm saw strong demand for a 750 million dollar hybrid capital raising in Asia this year and a listing could be used to raise capital to further the bank's ambitions in the region.

HSBC (HSBA.L) is expected to be the first foreign company to list in Shanghai after regulations are reformed next year.

CADBURY BRACED FOR KEY UPDATE

A third-quarter trading update from Cadbury (CBRY.L) is expected to show strong top-line sales growth. Analysts believe that Cadbury will use the Wednesday update to bolster its defence case against Kraft, which has until November 9 to submit a bid for the confectioner.

Bernstein Research analyst Andrew Wood believes that Cadbury could highlight its value as a standalone group by raising its guidance on full-year organic revenue to the "middle" of the four-to-six per cent range.

PEARSON RAISES FULL-YEAR GUIDANCE

Pearson (PSON.L), owner of the Financial Times, raised its full-year earnings guidance on Tuesday after its education business showed "substantial" growth in digital services.

Sales for the nine months to September were up 20 per cent, or two per cent at constant exchange rates. Operating profit for the period was up 19 per cent, three per cent at constant rates.

Pearson revised its forecast for full-year adjusted earnings per share from the 57.7 pence predicted in July to "at or above 60 pence per share".

Prepared for Reuters by Durrants