Alstom Plunges, BP Dips, Ibstock Lower
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Alstom shares fall as much as 31% in Paris, heading for the biggest one-day decline in more than three years, after the train maker cut its adjusted Ebit margin forecast and warned of a significant free-cash outflow. JPMorgan views Alstom’s second warning this year as a “painful but necessary clearing event.” - BP Plc completed a deal to offload its Castrol lubricants business, giving the oil and gas major $6 billion to pay down debt as it works to repair the balance sheet. - Ibstock warned it expects its performance in the second-half of the year to be materially below its previous expectations due to weak market conditions, prompting Peel Hunt to cut its estimates and price target on the building products maker. See omnystudio.com/listener for privacy information.