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BUZZ-FirstGroup: worst one-day move this yr on fear of further rail setback

Reuters - UK Focus

** Transport co FirstGroup (LSE: FGP.L - news) suffers worst one-day drop since May last year & hits lowest levels since end-October on possibility of yet another rail setback

** Traders cite UK media reports that suggest East Coast rail franchise competition, for which FirstGroup was in the running, could be lost to a foreign bidder (link: http://dexpr.es/11PYINu)

** Co has suffered a series of disappointments in its rail business this year - bidding for four contracts without winning one

** In further negative news, FT reported mid Nov that a U.S. activist fund cut its stake in FirstGroup

** Heavy trading in stock with volumes already over full-day's average

** Peer Stagecoach, also in running for East Coast rail franchise along with JV partner Virgin, another big faller on the day, down 2 pct on fears it could miss out too. (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)