Energy Companies – Ofgem has received information suggesting that Npower, Scottish Power, Scottish and Southern Energy, and EDF Energy may have been broken new rules on soliciting customers. (BBC)
BHP Billiton – China is stepping up attempts to hamper co.’s USD 39bn hostile offer for Potash, amid worries about future supplies of fertiliser it needs to rapidly boost food production. China’s state-run Sinochem has hired HSBC to advise it on its options regards Potash. (RTRS)
Rio Tinto – Co. said contract prices for the steelmaking commodity will probably fall 13%, the first decline in three quarters as Chinese demand weakens. (Sources)
BP – Co. expects to remove a failed blowout preventer atop its ruptured Gulf of Mexico oil well by Saturday or Sunday and later plug the leak for good, the top US official overseeing the spill response said. (RTRS)
AstraZeneca – Co. received European Commission’s positive decision on Seroquel XR as an add-on treatment of major depressive disorder. Co. says will now forward in obtaining local approvals. (RTRS)
Anglo American – Co. said a group of mining companies in Australia plans to lodge a formal bid for Queensland State’s coal freight network next week after making a revised initial AUD 5.1bn proposal last month. (Sources)
BAE Systems – Co. receives USD 629m contract from the US Mine Resistant Ambush Protected (MRAP) Joint Programme Office to upgrade 1700 Caiman MRAP vehicles. (RTRS)
Tesco – Co. is among more than ten bidders for Carrefour’s assets in Thailand, Malaysia, and Singapore. (FT)
Cables & Wireless Worldwide – AT&T not planning to move on co., citing sources close to AT&T. (FT)
Tullow Oil – Co. acquires a 50% interest of the East African rift basin. (Sources)
TUI Travel – Co. took off, up GBP 0.15 to GBP 2.16, amid reheated rumours that TUI AG, its German majority shareholder, is weighing up a possible bid for the 45% of the equity that it does not already own. (The Times)
Autonomy Corporation – Co. was yesterday the subject of renewed bid speculation. Oracle and Microsoft were again mentioned as potential bidders. (FT)
Fresnillo – Co. was yesterday the subject of renewed speculation of a bid from Carlos Slim. (Independent)
On the first day of the month equities have staged a broad based rally after consensus beating ISM boosted investor appetite for riskier assets.
In addition to that, supporting the upside trend was touted asset reallocation by pension funds and hedge funds into equities out of Treasuries.
All 10 sectors in the S&P 500 finished in positive territory, while Apple (+2.97%) topped the leaders board in the NASDAQ 100 after announcing redesigned iPods.
Finally, at the closing bell DJIA closed up 2.54% at 10269.47, S&P 500 closed up 2.95% at 1080.25 and NASDAQ 100 closed up 2.98% at 1820.05.
Apple – Co. unveiled an aggressive move into the internet-television market on Wednesday, with its new Apple TV, while also rolling out an overhauled line-up of its iPod devices and new operating systems for its iPhone and iPad. (RTRS)
Ford – August adjusted US sales down 10.7% vs. Exp. down 5.2%, says August sales down 5% from last month. (Sources)
Chrysler – August adjusted US sales up 7% vs. Exp. up 3%. (RTRS)
General Motors – August adjusted US sales down 21.9% vs. Exp. down 19%. (Sources) In other news, co. plans to begin courting investors for its initial public offering immediately after the November 2 US midterm congressional elections, two sources familiar with the plans said. (RTRS)
Total – Co.’s CEO says interested in some BP assets, says won’t elaborate. In addition said, co. has received offers for its UK Lindsey refinery and hopes to sell it by the end of the year, according to Chief Executive Offer. (Sources/RTRS)
Pernod Ricard – Co.’s full year net EUR 951m vs. Exp. EUR 987m, and co. are to pay dividend of EUR 1.34 a share. They will give 2010-11 targets at November 10 shareholder meeting. (Sources)
Capgemini – Co.’s CEO says does not see further major acquisitions this year. (RTRS)
Volkswagen – August adjusted US sales down 7.9%. (Sources)
Daimler – Mercedes Benz August adjusted US sales up 15%. (Sources)
BMW – August adjusted US sales down 1.6% to 23,965, says does not see H2 as strong as H1. (Sources)
Porsche – August adjusted US sales up 33%. (Sources)
Unicredit – Consob, Italy’s securities regulator is to carry out an investigation into stakes held in co. by Libyan financial institutions. (Il Sole 24 Ore) Swisscom – Co. says has not decided whether to purchase remaining 18% shares in Fastweb. (RTRS)
Swatch – Co. is accusing UBS for losses suffered through products it invested in and is pressing charges to recover some of the money lost. (Tages-Anzeiger)
Companies paying Dividend: France Telecom (EUR 0.6000) RWE – Co. plans to pool its German sales operations and power grind in a new company, citing unidentified people close to the utility. (Handelsblatt)
Data provided by RANsquawk.
The above comments do not constitute investment advice.
Paddypowertrader, RANsquawk and Clean Financial do not accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
All reasonable efforts have been made to present accurate information.
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Article edited by paddypowertrader which is a trading name of London Capital Group Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 182110.
'Shares Markets' edited by paddypowertrader, updated 02-Sep-10
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