Share News: BT Considers Legal Action Against Ofcom Over Wholesale Fees

UK Shares News

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Share Trading - 17 Nov 2010

UK Share Trading News

• GlaxoSmithKline – The FDA has voted 13-2 to recommend they approve the co.’s and Human Genome Sciences’ Benlysta drug.
  
  
• BHP Billiton – Co. plans to invest an additional USD 570m on its existing Australian iron ore expansion plans. (RTRS)
  
  
• BT – Co. says it may take legal action against Ofcom, if it is refused permission to raise wholesale fees charged to competitors for using its network. (FT)
  
  
• ICAP – Co.’s H1 adjusted EPS GBP 20.8 vs. Exp. GBP 18, H1 revenue GBP 867m vs. Exp. GBP 859m. Also their H1 dividends per share GBP 5.27 vs. Exp. GBP 5.30 (Sources)
  
  
• Experian – Co.’s H1 net USD 260m vs. Prev. USD 249m, and increase the interim dividend 29% to USD 0.09 (Sources)
  
  
• Centrica – Co. continued to perform strongly during Q3, and forecast’s operating profit for 2010 is slightly ahead of current market expectations. EPS for financial year are expected to be in line with current market are expected to be in line with current market expectations. (RTRS)
  
  
• Companies paying Dividend: Centrica (GBP 0.0384), Aviva (GBP 0.0950)
  
  

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US Share Trading News

• Despite positive earnings from bellwether stocks Wal-Mart (+0.57%) and Home Depot (+1.01%) equities have been on a downward trend as a result of fears that Ireland may require financial assistance.
  
  Basic materials and oil and gas are the underperforming sectors in the S&P 500 on the back of a stronger USD (+0.70%) and as renewed talk of further policy tightening from China.
  
  At the closing bell DJIA closed down 1.58% at 11024.65, S&P 500 closed down 1.61% at 1178.41 and NASDAQ 100 closed down 1.78% at 2093.63.
  
  
• Bank of America/JP Morgan – Co’s. and Iowa Attorney General near settlement on mortgages. (Sources)
  
  
• General Motors – Co. is boosting the size of its common stock offering by more than 30% to USD 15.5bn. (RTRS)
  
  

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European Share Trading News

• Carrefour – Co. has halted the sale of its stores in Malaysia and Singapore as the bids received were too low. (FT)
  
  
• Schneider Electric – Co. reaffirms mid-term growth and profitability targets. (RTRS)
  
  
• Deutsche Bank – Co. denies BHF may not be sold by the year-end. (Frankfurter Allgemeine Zeitung)
  
  
• Infineon – Co.’s CEO said co. has no plans to dispose of chip card and security division. (Sources)
  
  
• Unicredit – Co. said it plans to increase its presence in Eastern Europe. (La Stampa)
  
  
• Iberdrola – Co. has sold its stakes in 3 US gas companies for USD 1.25bn. Co. will use this money to build a new power line between the US and Canada. (RTRS)
  
  
• BBVA/Zurich Financial – Bolivia plans to nationalise the pension system, which is currently run by the two Cos. (Sources)
  
  
• BBVA – Co.’s Mexican unit Banorte is expected to acquire smaller Mexican rival IXE. (RTRS)
  
  
• Fiat – Co. says it is not actively considering a sale of Magneti Marelli or a listing of Ferrari. (Sources)
  
  
• Roche – Co. plans cost savings of CHF 2.4bn a year through job cuts, over the next two year. (Sources)
  
  
• BBVA/Zurich Financial – Bolivia plans to nationalise the pension system, which is currently run by the two Cos. (Sources)
  
  
• Zurich Financial – Co. is selling its stakes in Spanish life and general insurance companies to UNNIM. (Sources)
  
  

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