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European Stocks to Watch: Lonmin

Shares of South Africa based miner Lonmin jumped 6.11% after it reported an 18% fall in underlying first-half profit but kept its full-year guidance for platinum sales unchanged.

The world's third-largest platinum producer reported a pretax profit before exceptional items of $235 million (118 million pounds) in the six months ended March, with turnover down 11% to $631 million.

The miner said that the first half of its financial year was adversely impacted by the shutdown and subsequent rebuild of the Number One furnace.

"We have passed the point of having serious concerns about our furnace and have brought an additional capacity during that period,” Brad Mills, CEO of Lonmin told CNBC’s “Squawk Box Europe”.

Looking ahead, Lonmin continues to look at junior players in the sector and other consolidating opportunities.

“If we find something there that we think is particularly attractive we are prepared to move on it,” he added.

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GFI Informatique (up 17.11%) Shares in the computer software and services firm soared after Japan’s Fujitsu announced on Wednesday that its U.K. unit plans to make an offer of 419 million euros ($570 million) for the French company.

SeaDrill (up 7.54%) The Norwegian oil driller ordered a new deepwater rig worth 391 million euros ($531.5 million) on Wednesday, as well as winning a preliminary 5-year contract worth 713.5 million euros ($970 million) to build a rig in Asia for an international operator on Tuesday, sending shares higher.

Konecranes (up 5.63%) Handelsbanken raised its target of Konecranes to 30 euros from 28 euros, citing a capacity for expansion in the development industry.

BSkyB (up 5.05%) Murdoch-controlled BSKYB has reported a 10% increase in revenue and says it beat forecasts on new subscriber numbers in the third quarter.

Continental (up 2.85%) The German tire producer reported Wednesday first-quarter net profit rose 22% on the year due to rising tire and auto components sales, and reiterated that full-year revenues and earnings are expected to increase compared with 2006.

Numico (down 5.28%) Shares of the baby food and nutritional supplement company Royal Numico declined after it reported a 57% rise in first-quarter net profit and reiterated its financial targets for 2007, Dow Jones Newswires reported.

TeliaSonera (down 4.57%) Shares of the telecom operator fall after a report that the Swedish government Wednesday said it will sell an 8% stake to institutional investors, lowering the prospects of a takeover of the company by either private equity or a trade buyer.

Syngenta (down 4.56%) Despite the Swiss agrochemicals company posting a 9% rise in first-quarter sales, shares dipped due to delayed corn planting in the U.S.