Jefferies says BSkyB’s third-quarter results could be marginally disappointing based on its forecasts for net subscriber additions of 57,000, which would be below the 80,000 recorded at the same stage last year, and EBITA growth of only 5 percent year-on-year. FTSE fallers, after Jefferies cuts its rating for the satellite broadcaster to "hold" from "buy" ahead of third-quarter results from the firm, due on Thursday. Shares in BSkyB BSY.L lose 0.7 percent, one of only four FTSE 100. Reuters messaging 26 Apr2010-BSkyB weak Jefferies cuts to “hold” “The compares with the February figure of +9.8 percent and is the fourth consecutive month of outright year-on-year increases, although the trend over the past year has been one of clear improvement.”Īnalysts also believe its flight support unit may have benefitted from an increased workload following the spread of an ash cloud from an Icelandic volcano over northern Europe, which stranded millions of travellers and paralysed businesses earlier this month. “In March, the number of flights increased by 18.1 percent year-on-year,” says Arbuthnot analyst Gerald Khoo. Federal Aviation Administration says the number of business jet flights, as measured by air traffic control data, accelerated sharply last month. Shares in BBA Aviation BBA.L rise 2.3 percent after the U.S. Reuters messaging 26 Apr2010-BBA Aviation rises on business jet mkt pick-up To see Petrel’s statement please click on “The focus going forward has to be on winning exploration and production contracts in Iraq, the company is yet to do so, but at least in the meantime the balance sheet issue created by payments that were outstanding on this contract have been addressed,” says Howie. Petrel says it receives $2 million of an agreed $7 million and maintains a profit share but no longer has any liability or exposure to any possible losses in the project, which will restart shortly.Īstaire Securities analyst Craig Howie says the news is very positive for the company. Shares in Petrel Resources PET.L soar 37.0 percent after the Iraq-focused oil and gas explorer settles all outstanding issues on the Subba and Luhais oil field developments in Southern Iraq. Reuters messaging 26Apr2010-Petrel soars after settling issue in Iraq “While this divestment is dilutive to our forecasts, its positive impact reducing net debt and delivering on management’s divestment strategy is likely to dominate sentiment today,” says analyst David Brockton at Arbuthnot Securities.īrockton, however, keeps his “reduce” recommendation on the stock and remains cautious about Spice’s contract-renewal profile and the realisation of divestments in gas and facilities. Shares in Spice Plc SPI.L rise as much as 8 percent after the British utility support services group agrees to sell its telecoms business for 32.8 million pounds to reduce debt. 08:04GMT 26April2010-Spice gains on telecoms sale.
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