Markets weaker as metals prices retreat2007-04-27 16:55:06

SurfControl surged 159.75 to 659.75 - the web security outfit accepting a 700p per share offer from California-based rival, Websense.

The deal, which values Surfcontrol at £2.1 billion, is forecast to be earnings enhancing for Websense in year 1. It's expected to be completed within 2 months.

Friends Provident eased 2.75 to 189.50 - the life insurer posting a 12% rise in Q1 sales to £1.46 billion - in line with City estimates.

However, the company warned that the protection insurance market - one of its core business areas - is set to get tougher.

Life and pensions new business meanwhile totalled £1.5 billion - a strong performance in the UK counterbalancing weaker sales internationally.

Bodycote International rose 10.75 to 325.75 - the metal-treatment specialist rejecting a £1.11 billion takeover by Swiss-based Sulzer AG. This came after Sulzer had raised its bid for the fourth time to what will now be a final offer of 344.5p per share.

Sulzer initially tabled an offer of 332p per share back on April 18th.

National Express Group softened 4 to 1236 - the transport outfit announcing it has agreed to acquire Continental Auto SL, a leading operator of public transport services in Spain, from Grupo ACS, for £449.7 million 659.3 million euros - the deal to be funded in cash from a combination of existing bank facilities and a new committed bank facility.

The transaction, which is expected to be earnings enhancing for the firm in its first full year, is set to complete before the end of 2007. On completion, National Express will have more than 2,100 vehicles in Spain and carry more than 142 million passengers per year.

British Airways fell 5.50 to 506.50 - the full service carrier confirming it's to increase its longhaul fuel surcharge with effect from May 2nd, as a result of recent trends in the price of oil.

The fuel surcharge on longhaul flights of less than nine hours will rise from £30 per sector £60 return to £33 £66 return; and from £35 per sector to £38 £76 return on flights longer than nine hours.

The shorthaul fuel surcharge remains unchanged at £8 per sector £16 return.

Oasis Healthcare Plc

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2007-04-27 16:55:06 © Moneyextra.com