LONDON MARKETS: Vodafone Shares Surge On Possible Tower IPO As Anglo American Hit By Stake Sale
July 26 2019 - 06:12AM
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 0.3% to 7,509.45, 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. stock futures on Friday, with second-quarter GDP data on
tap.
Earnings also helped lift the fortunes of Europe stocks on
Friday.
Focus stocks
Vodafone Group (VOD.LN) (VOD.LN) shares jumped nearly 9% 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. It also reported a slight
decline in fiscal first-quarter revenue and confirmed its earnings
guidance.
Pearson (PSON.LN) shares rose over 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 5% 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 05:57 ET (09:57 GMT)
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