(Reuters) - French oil major Total said on Thursday that it had finalised the acquisition of interests in two exploration blocks in the deep offshore Angola.
Total said in a statement that it had agreed to take a 30 percent interest in the Block 17/06, alongside Sociedade Nacional de Combustiveis de Angola (Sonangol), which holds 30 percent, and SSI Seventeen, 27.5 percent.
Read more at Reuters Africa
Thursday, 10 May 2007
Alcatel, CNP, EDF, Lagardere, NRJ, Teleperformance: French Equity Preview
(Bloomberg) -- Shares of the following companies may rise or fall on the Paris stock exchange. Symbols are in parentheses after company names and prices are from yesterday's close.
The benchmark CAC 40 Index fell 38.87 points, or 0.6 percent, to 6012.76 today in Paris, the biggest one-day drop since March 26. The broader SBF 120 Index declined 0.6 percent to 4395.66.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index fell 38.87 points, or 0.6 percent, to 6012.76 today in Paris, the biggest one-day drop since March 26. The broader SBF 120 Index declined 0.6 percent to 4395.66.
Read more at Bloomberg Stocks News
Ahold Q1 sales down 0.7 pct, matches forecasts
(Reuters) - At constant exchange rates, net sales rose 5.8 percent in the first quarter, Ahold said. Ahold owns the Netherlands' biggest supermarket chain but makes three-quarters of its turnover in the United States from its Stop&Shop/Giant-Landover and Giant Carlisle/Tops supermarkets and catering supplies unit U.S. Foodservice.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
KarstadtQuelle, ThyssenKrupp, TUI Shares May Move: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets.
Germany's X-DAX Index fell 0.8 percent to 7348.94. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX dropped 0.8 percent to 7415.33 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Germany's X-DAX Index fell 0.8 percent to 7348.94. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX dropped 0.8 percent to 7415.33 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Citigroup Names Fitzpatrick as Currency Strategy Head, Succeeding Saywell
(Bloomberg) -- Citigroup Global Markets Inc. named Tom Fitzpatrick as global head of currency strategy, replacing Steven Saywell, who left last month.
Fitzpatrick, based in New York, said today that he started the position this week. He will also continue his previous position as chief technical strategist. Saywell had been based in London.
Read more at Bloomberg Currencies News
Fitzpatrick, based in New York, said today that he started the position this week. He will also continue his previous position as chief technical strategist. Saywell had been based in London.
Read more at Bloomberg Currencies News
TREASURIES-Bonds up on weak economy, soft retail sales
(Reuters) - NEW YORK, May 10 - U.S. government bond prices rose on Thursday, after data showing sluggish sales by retailers and a trade deficit suggesting that the economy grew at a slower-than-estimated pace in the first quarter.
A stock market sell-off also contributed to Treasuries' rise, although bonds' gains were capped by a surprisingly weak 30-year bond auction.
Read more at Reuters.com Bonds News
A stock market sell-off also contributed to Treasuries' rise, although bonds' gains were capped by a surprisingly weak 30-year bond auction.
Read more at Reuters.com Bonds News
Paulson repeats support for open markets waning
(Reuters) - Since the September 11, 2001, terror attacks, foreign investment has faced scrutiny at times but only a small proportion of it comes under the toughest examination, he said.
"Clearly we must and we do take every precaution to protect our national security," Paulson said.
Read more at Reuters.com Bonds News
"Clearly we must and we do take every precaution to protect our national security," Paulson said.
Read more at Reuters.com Bonds News
UPDATE 1-US Justice Dept eyes federal Nelnet audit-lawmaker
(Reuters) - "My understanding is that the Department of Justice is now looking at that audit," said House of Representatives Education and Labor Committee Chairman George Miller at a hearing where Education Secretary Margaret Spellings testified.
Nelnet said on Jan. 19 it agreed to a settlement with the Education Department over an audit by the department's inspector general of a Nelnet portfolio of loans that were getting special allowance payments under a 1980s loan program that guaranteed lenders a 9.5 percent interest rate.
Read more at Reuters.com Government Filings News
Nelnet said on Jan. 19 it agreed to a settlement with the Education Department over an audit by the department's inspector general of a Nelnet portfolio of loans that were getting special allowance payments under a 1980s loan program that guaranteed lenders a 9.5 percent interest rate.
Read more at Reuters.com Government Filings News
Cocoa Falls in New York as Drop in Pound Shifts Buying to London Market
(Bloomberg) -- Cocoa fell for the first day this week in New York as a drop in the British pound made the beans cheaper to buy in London.
The U.K. currency fell the most in two months against the dollar after the Bank of England raised interest rates a quarter point, matching economists' expectations. Cocoa climbed in London, where it is traded in pounds.
Read more at Bloomberg Commodities News
The U.K. currency fell the most in two months against the dollar after the Bank of England raised interest rates a quarter point, matching economists' expectations. Cocoa climbed in London, where it is traded in pounds.
Read more at Bloomberg Commodities News
Brazil Offered 750 Million Reais of Global Bonds Due 2028, Mantega Says
(Bloomberg) -- Brazil offered 750 million reais ($370.7 million) of local-currency bonds due in 2028 in international markets, Finance Minister Guido Mantega said.
Brazil expects to sell the bonds at a price to yield less than 9 percent, compared with a yield of 10.28 percent at a March 20 sale of real-bonds maturing in 2028, Mantega told reporters in Brasilia today.
Read more at Bloomberg Emerging Markets News
Brazil expects to sell the bonds at a price to yield less than 9 percent, compared with a yield of 10.28 percent at a March 20 sale of real-bonds maturing in 2028, Mantega told reporters in Brasilia today.
Read more at Bloomberg Emerging Markets News
US STOCKS-Wall St drops on economic worries, retail sales
(Reuters) - NEW YORK, May 10 - U.S. stocks slid on Thursday as disappointing April retail sales and a widening trade deficit raised worries about the economy's health a day after the Federal Reserve reiterated their unease about inflation.
Market participants also noted the temptation for investors to lock in profits given the strong run of recent sessions. The Dow is up nearly 8 percent in the last three months, while the S&P 500 has risen 6.5 percent in the period.
Read more at Reuters.com Bonds News
Market participants also noted the temptation for investors to lock in profits given the strong run of recent sessions. The Dow is up nearly 8 percent in the last three months, while the S&P 500 has risen 6.5 percent in the period.
Read more at Reuters.com Bonds News
Conrad Black's lawyer rips into key witness Radler
(Reuters) - Edward Greenspan peppered David Radler, Black's lieutenant for 30 years who has already pleaded guilty to fraud, with questions about a meeting in 2003 with lawyers from a special committee. The group was looking into irregularities at the company that ran Black's media empire, Hollinger International Inc.
"You lied to the lawyers from the special committee?" Greenspan asked.
Read more at Reuters.com Bonds News
"You lied to the lawyers from the special committee?" Greenspan asked.
Read more at Reuters.com Bonds News
Treasuries Gain Before Government's $5 Billion Auction of 30-Year Bonds
(Bloomberg) -- U.S. Treasuries gained before a $5 billion auction of 30-year bonds amid signs the economy may be slowing and inflation moderating.
The 30-year security rose after declining the most in almost two weeks yesterday when Federal Reserve policy makers held borrowing costs at 5.25 percent and said inflation remains their ``predominant policy concern.'' Longer-maturity bonds are more sensitive to inflation concerns than shorter-dated notes.
Read more at Bloomberg Bonds News
The 30-year security rose after declining the most in almost two weeks yesterday when Federal Reserve policy makers held borrowing costs at 5.25 percent and said inflation remains their ``predominant policy concern.'' Longer-maturity bonds are more sensitive to inflation concerns than shorter-dated notes.
Read more at Bloomberg Bonds News
S&P cuts EADS' debt rating, outlook stable
(Reuters) - The group's profits had slumped 94 percent last year on the back of a weak dollar and industrial problems at Airbus. For details see [ID:nL10414848].
S&P cut EADS' corporate credit rating by one notch to "BBB-plus," the third-lowest investment-grade rating, from "A-minus." The outlook is stable, meaning another rating change is not expected over the next two years.
Read more at Reuters.com Bonds News
S&P cut EADS' corporate credit rating by one notch to "BBB-plus," the third-lowest investment-grade rating, from "A-minus." The outlook is stable, meaning another rating change is not expected over the next two years.
Read more at Reuters.com Bonds News
Brazil Debt Rating Raised to BB+, One Step From Investment Grade, by Fitch
(Bloomberg) -- Brazil's credit rating was raised to BB+ by Fitch Ratings, leaving the South American country on the cusp of investment grade as it uses surging dollar inflows to pay down foreign debt.
Fitch raised Brazil's foreign and local-currency credit grade one level from BB. The rating outlook is stable, Fitch said in a statement.
Read more at Bloomberg Emerging Markets News
Fitch raised Brazil's foreign and local-currency credit grade one level from BB. The rating outlook is stable, Fitch said in a statement.
Read more at Bloomberg Emerging Markets News
U.S. Stocks Fall on Oil Increase, Inflation Concerns; Citigroup Declines
(Bloomberg) -- U.S. stocks dropped after crude oil climbed and import prices rose the most in almost a year, reducing prospects the Federal Reserve will cut interest rates.
Citigroup Inc. and JPMorgan Chase & Co. led financial shares lower on concern the highest borrowing costs in six years will erode profits from lending. Homebuilders also declined. Shares of Whole Foods Market Inc. plunged to the lowest since October 2004 after net income trailed analysts' estimates.
Read more at Bloomberg Stocks News
Citigroup Inc. and JPMorgan Chase & Co. led financial shares lower on concern the highest borrowing costs in six years will erode profits from lending. Homebuilders also declined. Shares of Whole Foods Market Inc. plunged to the lowest since October 2004 after net income trailed analysts' estimates.
Read more at Bloomberg Stocks News
Canadian Tire profits rise on sales growth
(Reuters) - The hard goods retailer reported net earnings of C$64.5 million or 79 Canadian cents a share for the quarter, up from C$47.6 million, or 58 Canadian cents a share for the same time last year.
Consolidated retail sales, which includes sales at Canadian Tire stores, Mark's Work Wearhouse, and the company's gas outlets, rose by 5.6 percent in the quarter.
Read more at Reuters.com Market News
Consolidated retail sales, which includes sales at Canadian Tire stores, Mark's Work Wearhouse, and the company's gas outlets, rose by 5.6 percent in the quarter.
Read more at Reuters.com Market News
Retailers' April sales push US stock indexes down
(Reuters) - U.S. stocks fell on Thursday after Wal-Mart Stores Inc. and most other major retailers reported weaker-than-expected April sales, raising concerns about slower consumer spending.
Shares of Whole Foods Market Inc. were the biggest drag on the Nasdaq after the largest natural and organic grocery chain posted lower quarterly profit late on Wednesday. ID:nWEN7918
Read more at Reuters Africa
Shares of Whole Foods Market Inc. were the biggest drag on the Nasdaq after the largest natural and organic grocery chain posted lower quarterly profit late on Wednesday. ID:nWEN7918
Read more at Reuters Africa
UPDATE 2-PM's aide named head of Russian markets watchdog
(Reuters) - MOSCOW, May 10 - Prime Minister Mikhail Fradkov has appointed Vladimir Milovidov as head of Russia's FSFR financial markets watchdog, Russian agencies reported on Thursday.
Milovidov replaces Oleg Vyugin, who has headed the FSFR since March 2004. Milovidov is an aide to Fradkov and worked between 2000 and 2003 as deputy head of the Federal Securities Commission, the forerunner to the FSFR, overseeing mutual-fund development.
Read more at Reuters.com Government Filings News
Milovidov replaces Oleg Vyugin, who has headed the FSFR since March 2004. Milovidov is an aide to Fradkov and worked between 2000 and 2003 as deputy head of the Federal Securities Commission, the forerunner to the FSFR, overseeing mutual-fund development.
Read more at Reuters.com Government Filings News
Colombia Peso Reaches 7-Year High as Economic Growth Lures Foreign Buyers
(Bloomberg) -- Colombia's peso advanced to a seven- year high on expectations a growing economy will continue to attract foreign investment.
Colombian President Alvaro Uribe yesterday called on the central bank to consider more measures to stop ``speculative'' capital inflows to prevent the peso from strengthening further and eroding exporters' profits. Colombia's central bank this week imposed lending limits to curb inflation and temper peso gains.
Read more at Bloomberg Currencies News
Colombian President Alvaro Uribe yesterday called on the central bank to consider more measures to stop ``speculative'' capital inflows to prevent the peso from strengthening further and eroding exporters' profits. Colombia's central bank this week imposed lending limits to curb inflation and temper peso gains.
Read more at Bloomberg Currencies News
UPDATE 1-Gymboree April same-store sales fall; backs Q1 EPS view
(Reuters) - Analysts, on average, expected the San Francisco-based company's same-store sales to decline 3.1 percent, according to Reuters Estimates.
The company, which operates Janie and Jack stores as well as its namesake Gymboree chain, said net sales from retail operations decreased 2 percent to $52.6 million for the four weeks ended May 5.
Read more at Reuters.com Market News
The company, which operates Janie and Jack stores as well as its namesake Gymboree chain, said net sales from retail operations decreased 2 percent to $52.6 million for the four weeks ended May 5.
Read more at Reuters.com Market News
UPDATE 2-PG&E posts higher profit on rate increases
(Reuters) - Net income rose to $256 million, or 71 cents per share, from $214 million, or 60 cents per share, a year earlier.
Analysts, on average, were expecting earnings of 64 cents a share in the quarter, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, were expecting earnings of 64 cents a share in the quarter, according to Reuters Estimates.
Read more at Reuters.com Market News
Crude Oil Rises on Concern U.S. Gasoline Supply Is Inadequate for Summer
(Bloomberg) -- Crude oil and gasoline rose on concern that U.S. motor-fuel inventories aren't sufficient to meet demand during the summer driving season.
Gasoline supplies in the week ended May 4 were down 8 percent from the five-year average for the date, the Energy Department said yesterday. Inventories of the fuel rose 372,000 barrels, the first gain in 13 weeks. Eni SpA cut output at Nigeria's Brass crude oil export terminal by 98,000 barrels a day after a militant group attacked pipelines this week.
Read more at Bloomberg Energy News
Gasoline supplies in the week ended May 4 were down 8 percent from the five-year average for the date, the Energy Department said yesterday. Inventories of the fuel rose 372,000 barrels, the first gain in 13 weeks. Eni SpA cut output at Nigeria's Brass crude oil export terminal by 98,000 barrels a day after a militant group attacked pipelines this week.
Read more at Bloomberg Energy News
Trade deficit swells 10.4 percent in March
(Reuters) - A separate report showed oil import prices continued to rise in April, suggesting little relief for the trade deficit in the months ahead.
The trade gap swelled 10.4 percent from a downwardly revised tally for February, the Commerce Department said, surprising Wall Street economists who had expected a more modest expansion.
Read more at Reuters.com Economic News
The trade gap swelled 10.4 percent from a downwardly revised tally for February, the Commerce Department said, surprising Wall Street economists who had expected a more modest expansion.
Read more at Reuters.com Economic News
Orbitz Worldwide files for $750 mln IPO
(Reuters) - The filing did not reveal how many shares the company planned to sell or their expected price.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Bebe Stores, Home Solutions, Rio Tinto, Whole Foods: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names. Share prices are as of 9 a.m. New York time.
Shares of some U.S. retailers declined after an earlier Easter limited gift purchases last month and the coldest April in a decade curbed sales of lightweight clothing.
Read more at Bloomberg Stocks News
Shares of some U.S. retailers declined after an earlier Easter limited gift purchases last month and the coldest April in a decade curbed sales of lightweight clothing.
Read more at Bloomberg Stocks News
BJ's Wholesale April same-store sales down 2.1 pct
(Reuters) - The company, the No. 3 U.S. warehouse club operator, said total sales for the four weeks ended May 5 rose 1.9 percent to $618.5 million.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Ross same-store sales fell 7 pct in April
(Reuters) - Total sales for the four weeks ended May 5 were $417 million, up from $416 million a year before.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Ross same-store sales fell 7 pct in April
(Reuters) - Analysts, on average, had been expecting the company to post a decrease of 3 percent, according to a Reuters survey.
Total sales for the four weeks ended May 5 were $417 million, up from $416 million a year earlier.
Read more at Reuters.com Market News
Total sales for the four weeks ended May 5 were $417 million, up from $416 million a year earlier.
Read more at Reuters.com Market News
H&R Block tax preparation fees rise 6.6 pct
(Reuters) - H&R Block typically generates more than half its annual revenue and much of its profit in the main U.S. tax filing season, which ended on April 17 for most Americans.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Congolese Government Probing Central African Mining After Arrest Request
(Bloomberg) -- Congo's government said it's probing the operations of Central African Mining & Exploration Co., a U.K.-based copper producer, after being approached by South Africa to help with the arrest of a company shareholder.
South Africa's Justice Department asked Congo to assist with an arrest warrant for Billy Rautenbach, a Camec shareholder, on charges of fraud, corruption and theft, Victor Kasongo, Congo's vice minister of mines, said in an e-mailed statement dated yesterday. Rautenbach is in China and unavailable for comment, his father Wiesel Rautenbach said by telephone from Harare today. Calls to his son's Zimbabwean mobile phone didn't connect.
Read more at Bloomberg Emerging Markets News
South Africa's Justice Department asked Congo to assist with an arrest warrant for Billy Rautenbach, a Camec shareholder, on charges of fraud, corruption and theft, Victor Kasongo, Congo's vice minister of mines, said in an e-mailed statement dated yesterday. Rautenbach is in China and unavailable for comment, his father Wiesel Rautenbach said by telephone from Harare today. Calls to his son's Zimbabwean mobile phone didn't connect.
Read more at Bloomberg Emerging Markets News
Whole Foods, Wild Oats shares fall
(Reuters) - Meanwhile, Whole Foods shares lost 11 percent after its quarterly results missed estimates. Its stock was at $40.48 compared with $45.80 at Wednesday's close.
Read more at Reuters.com Hot Stocks News
Read more at Reuters.com Hot Stocks News
Gap April same-store sales fell 16 percent
(Reuters) - Analysts had been expecting same-store sales to fall between 14 percent and 5 percent, with an average view of a decline of 7.4 percent, according to a Reuters survey.
Total net sales for the four weeks ended May 5 fell 11 percent to $1.09 billion, the San Francisco-based company said.
Read more at Reuters.com Business News
Total net sales for the four weeks ended May 5 fell 11 percent to $1.09 billion, the San Francisco-based company said.
Read more at Reuters.com Business News
UPDATE 3-Statoil cuts 2007 output goal due to project delays
(Reuters) - OSLO, May 10 - Norwegian oil group Statoil from 1.3 million, citing an earlier announced shut-down of its Kvitebjoern gas field in the North Sea and delays at other production sites from offshore Norway to Azerbaijan.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Israel's IncrediMail posts higher 1st-quarter profit
(Reuters) - Total revenue doubled year-over-year to $4.4 million while advertising revenue grew more than seven-fold to $1.7 million.
One analyst expected the company to earn 10 cents a share on revenue of $4.1 million, according to Reuters Estimates.
Read more at Reuters.com Market News
One analyst expected the company to earn 10 cents a share on revenue of $4.1 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Sally Beauty quarterly profit falls
(Reuters) - Sally was the larger of the two businesses when it was spun off from previous owner Alberto-Culver in November.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Brazilian Real, Chilean, Mexican Pesos: Latin American Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American currencies today. Exchange rates are from the previous session.
Brazilian real: The FIPE CPI index, an inflation gauge for the city of Sao Paulo, probably rose 0.36 percent during the week ended May 7, after increasing 0.12 percent in the previous week, according to the median forecast in a Bloomberg survey of eight economists.
Read more at Bloomberg Currencies News
Brazilian real: The FIPE CPI index, an inflation gauge for the city of Sao Paulo, probably rose 0.36 percent during the week ended May 7, after increasing 0.12 percent in the previous week, according to the median forecast in a Bloomberg survey of eight economists.
Read more at Bloomberg Currencies News
Hungary's BUX Index Rallies, Led by Mol, OTP: World's Biggest Mover
(Bloomberg) -- Hungarian stocks climbed to a record, paced by Mol Nyrt., the nation's largest refiner, and OTP Bank Nyrt., the biggest bank, after UBS AG recommended the shares.
The BUX Index gained 1.4 percent to 26,194.83 as of 12:35 p.m. in Budapest, making the biggest move among equity markets included in global benchmarks.
Read more at Bloomberg Stocks News
The BUX Index gained 1.4 percent to 26,194.83 as of 12:35 p.m. in Budapest, making the biggest move among equity markets included in global benchmarks.
Read more at Bloomberg Stocks News
UPDATE 1-Prices, acquisitions boost Cascades results
(Reuters) - The packaging and paper company reported a profit of C$22 million , or 22 Canadian cents a share for the period that ended March 31, up from a profit of $6 million, or 7 Canadian cents a share for the same time last year.
When excluding specific items including unusual gains, earnings for the quarter were C$5 million, or 5 Canadian cents a share, down from C$6 million, or 7 Canadian cents a share for the same time in 2006.
Read more at Reuters.com Market News
When excluding specific items including unusual gains, earnings for the quarter were C$5 million, or 5 Canadian cents a share, down from C$6 million, or 7 Canadian cents a share for the same time in 2006.
Read more at Reuters.com Market News
Treasuries Are Little Changed Before Reports on Retail Sales, Imports
(Bloomberg) -- Treasuries were little changed before reports that are forecast to show prices of goods imported into the U.S. and retail sales slowed last month.
Two-year notes declined the most in more than a month yesterday after the Federal Reserve said inflation remains its primary concern and kept the benchmark interest rate at 5.25 percent. The U.S. Labor Department will issue numbers for imports today and retail sales tomorrow.
Read more at Bloomberg Bonds News
Two-year notes declined the most in more than a month yesterday after the Federal Reserve said inflation remains its primary concern and kept the benchmark interest rate at 5.25 percent. The U.S. Labor Department will issue numbers for imports today and retail sales tomorrow.
Read more at Bloomberg Bonds News
Zurich Financial Shares Touch Five-Year High on Speculation of Buffett Bid
(Bloomberg) -- Shares of Zurich Financial Services AG rose to the highest in more than five years on speculation Warren Buffett's Berkshire Hathaway Inc. may bid for Switzerland's largest insurer.
Zurich Financial stock climbed as much as 12 francs, or 3.3 percent, to 376.5 francs, the highest since August 2001. They were trading at 373.75 francs by 9:55 a.m. in Zurich, boosting the company's market value to 54 billion francs ($44 billion).
Read more at Bloomberg Stocks News
Zurich Financial stock climbed as much as 12 francs, or 3.3 percent, to 376.5 francs, the highest since August 2001. They were trading at 373.75 francs by 9:55 a.m. in Zurich, boosting the company's market value to 54 billion francs ($44 billion).
Read more at Bloomberg Stocks News
U.K. Pound Little Changed Versus Dollar Before BOE Interest-Rate Decision
(Bloomberg) -- The U.K. pound was little changed before Bank of England policy makers decide today whether to raise interest rates to the highest in six years to cool inflation.
Economic reports yesterday showed consumer confidence rising to the highest since October and an increase in store prices, helping to push the pound to its strongest in a week. All 61 economists surveyed by Bloomberg News expect the central bank to announce a quarter-point increase in the Bank Rate at noon.
Read more at Bloomberg Currencies News
Economic reports yesterday showed consumer confidence rising to the highest since October and an increase in store prices, helping to push the pound to its strongest in a week. All 61 economists surveyed by Bloomberg News expect the central bank to announce a quarter-point increase in the Bank Rate at noon.
Read more at Bloomberg Currencies News
Hammerson Shares Jump on Reports KKR, Vornado May Make Bids for Mall Owner
(Bloomberg) -- Hammerson Plc shares surged the most in almost 15 years on reports New York-based buyout firm Kohlberg Kravis Roberts & Co. and Vornado Realty Trust are both considering bids for the U.K. owner of malls and offices.
The shares rose as much as 12 percent, the biggest gain since October 1992, and were up 7.6 percent to 1,688 pence at 8:35 a.m. in London, valuing the company at 4.9 billion pounds ($9.8 billion). The Business cited unidentified sources as saying KKR and Vornado, the second-largest U.S. real estate investment trust, were both mulling bids for Hammerson.
Read more at Bloomberg Stocks News
The shares rose as much as 12 percent, the biggest gain since October 1992, and were up 7.6 percent to 1,688 pence at 8:35 a.m. in London, valuing the company at 4.9 billion pounds ($9.8 billion). The Business cited unidentified sources as saying KKR and Vornado, the second-largest U.S. real estate investment trust, were both mulling bids for Hammerson.
Read more at Bloomberg Stocks News
German Stocks Advance, Led by BMW, Hypo Real Estate and DaimlerChrysler
(Bloomberg) -- German stocks advanced, led by Bayerische Motoren Werke AG, Hypo Real Estate AG and DaimlerChrysler AG.
The benchmark DAX Index rose 13.55, or 0.2 percent, to 7489.54 as of 9:08 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.2 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index rose 13.55, or 0.2 percent, to 7489.54 as of 9:08 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.2 percent.
Read more at Bloomberg Stocks News
Ford Investors, Wary of Hurdles for Mulally, Aren't Buying Comeback Plan
(Bloomberg) -- Ford Motor Co.'s new chief executive officer, Alan Mulally, says he must regain the trust of U.S. customers to recoup sales and restore profit. Winning back investors may take longer.
Mulally will give a progress report to shareholders today in his first annual meeting since joining Ford from Boeing Co. eight months ago. As an outsider CEO, he invokes comparisons to Carlos Ghosn, who in 1999 was dispatched by Renault SA to rescue Nissan Motor Co. Both executives were charged with shaking up companies racked by record losses.
Read more at Bloomberg Stocks News
Mulally will give a progress report to shareholders today in his first annual meeting since joining Ford from Boeing Co. eight months ago. As an outsider CEO, he invokes comparisons to Carlos Ghosn, who in 1999 was dispatched by Renault SA to rescue Nissan Motor Co. Both executives were charged with shaking up companies racked by record losses.
Read more at Bloomberg Stocks News
European Stocks May Gain on Earnings; EADS, UniCredit, Axa, BMW May Rise
(Bloomberg) -- European stocks may rise after earnings from European Aeronautic, Defence & Space Co., UniCredit SpA and Societe Generale SA topped analysts' estimates.
``The good earnings coming in now justify gains,'' said Klaus Stabel, head of research at ICF Kursmakler AG in Frankfurt.
Read more at Bloomberg Stocks News
``The good earnings coming in now justify gains,'' said Klaus Stabel, head of research at ICF Kursmakler AG in Frankfurt.
Read more at Bloomberg Stocks News
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