Market Extra: Carillion’s collapse delivers a boost for shares of rivals

The collapse of British construction and outsourcing giant Carillion PLC was swinging focus on shares of rival companies as ripple effects from the failure started to emerge on Monday.

One company, Balfour Beatty PLC said it will take a hit of 35 million to 45 million pounds ($48 million to $62 million) from Carillion’s liquidation. The notification drove Balfour’s shares BBY, -3.06% lower, losing much as 2.9% on an intraday basis.

Carillion CLLN, +0.00% said Monday it will enter liquidation after crisis talks failed over the weekend. The construction company had been in discussions with the U.K.

>>> Original Source <<<