BG Group
EPS 69.3c Div 14.38c
The performance of the BG share price as the market opened yesterday is instructive. The shares shot ahead by nearly 5 per cent as the market reacted to second-quarter earnings that were well ahead of forecasts.
They ended lower, off 8½p at £11.72, as analysts realised that there were a number of one-off factors, and that the outcome for this year had little changed. Meanwhile, BG is sounding increasingly gloomy about prospects at its Egyptian business, which has unsettled the shares since I tipped them at the start of the year.
The phrase BG used about Egypt was “at risk”, which has an ominous ring. The gas that should be shipped out as liquefied natural gas is being diverted