Share News: China May Launch Antimonopoly Probe Into BHP Potash Bid
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A daily look at the leading shares in the UK, US and the rest of the world sponsored by paddypowertrader. For today’s view see Shares Markets.
Share Trading - 1 Sep 2010
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UK Share Trading News
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- BHP Billiton – China may launch an antimonopoly probe into co.’s USD 38.6bn bid for Canada’s Potash, citing a source familiar with the matter. (China Business News) In other news, co.’s minimum shareholder acceptance threshold of 50.1% of Potash holdings, leaves a 20% Potash stake available for acquisition. (Australian Financial Review) Elsewhere, steelmakers and co. agree to 7% cut in Oct.-Dec. coking coal prices. (Nikkei)
- BP – Co. will sell Malaysian Ethylene and Polyethylene interests to Petronas. Petronas will, at closing, pay USD 363m in cash to co. Both parties anticipate completing the transaction by the end of 2010. (RTRS)
- Encore Oil – Premier Oil may be a prospective bidder for co. (FT)
- Companies going Ex-Dividend: ARM holdings (GBP 0.0116), Capita Group (GBP 0.0660), Legal & General Group (GBP 0.1330), Serco (GBP 0.0200), TUI Travel (GBP 0.0320)
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US Share Trading News
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Equities finished the session mixed after what can only be described as a volatile session. Despite moving into negative territory post the FOMC minutes release, equities staged a remarkable rebound in the closing hour to finish largely unchanged.
However the same cannot be said for the NASDAQ 100 which underperformed throughout the session, weighed on by Research in Motion (-6.00%) on the back of report that loyalty for co.’s products is fading.
Finally, at the closing bell DJIA closed up 0.05% at 10014.72, S&P 500 closed up 0.04% at 1049.32 and NASDAQ 100 closed down 0.26% at 1767.43.
- US Banks – Expect an “explosion in bank acquisitions” after November, said Dick Bove, analyst at Rochdale Securities. “That’s when the capital rules are supposed to be set for the sector”, Bove said. “As a result, there’s a whole bunch of banks that are selling at significant discounts to their book value, perhaps 50% of them will be bought out within the next 12 months”, he said. (CNBC)
- JPMorgan – There are no layoffs are planned in Asia after co.’s move to shut proprietary trading in US and UK, according to sources. (RTRS)
- Morgan Stanley – Fed approves proposal by China Investment Corp to acquire up to 10% of voting shares of co. (Sources)
- Genzyme – Co.’s Chief Executive Henri Termeer said he is willing to sell co. he built up over 25 years, but not for USD 69 per share. (RTRS)
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European Share Trading News
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STOXX Ltd, have announced changes to their benchmark EUROSTOXX 50 and STOXX Europe 50 indices. The new share numbers and free float factors will be announced on Wednesday 15/09/10, with changes to be implemented at the close of business on Friday 17/09/2010, effective on Monday 20/09/10
EUROSTOXX 50:
Added: BMW
Removed: AEGON
STOXX EUROPE 50:
Added: Standard Chartered, Anheuser-Busch, Zurich Financial Services, Hennes Mauritz
Removed: RWE, Iberdrola, Arcelormittal, Assicurazioni Generali
- Sanofi Aventis – Co. says continues to stand ready to engage in constructive talks with Genzyme and its board ‘at any time’. (RTRS)
- Vivendi – Co.’s H1 adjusted net EUR 1.53bn vs. Exp. EUR 1.49bn. Co. says 2010 dividend to be EUR 1.40 per share, and 2010 adjusted to exceed 2009. (Sources)
- Vinci – H1 EPS EUR 1.34 vs. Prev. EUR 1.42, H1 net EUR 703m vs. Prev. EUR 690m and H1 operating profit EUR 1.423bn vs. Exp. EUR 1.38bn. Co. declares interim dividend of EUR 0.52/share for 2010. (RTRS)
- Bouygues – H1 net falls 3% to EUR 532m, H1 sales fall 1% to EUR 14.7bn and H1 operating profit fell 10% at EUR 698m. Co. also raises 2010 sales target to EUR 30.4bn. (RTRS)
- Carrefour – Retailers from Europe and Southeast Asia are expected to submit bids for co. roughly USD 1bn-worth of Asian assets, with first-round offers due on Wednesday, sources said. (RTRS)
- Deutsche Bank/Commerzbank – Deutsche Bank and Commerzbank might have to raise billions of Euros in capital as Germany’s two biggest banks confront key decisions about long-awaited transactions. Deutsche Bank is considering a deal that will define the last years of Josef Ackermann’s tenure as chief executive: the takeover of Deutsche Postbank, which would give Deutsche Bank a coveted position as Germany’s biggest bank for retail customers.
The problem for Commerzbank is not how to integrate a rival, but how to extricate a reluctant investor, the German government, which during the financial crisis has propped up the bank with more than EUR 18bn. Analysts believe Commerzbank is certain to have to ask investors for capital to repay the government. Deutsche Bank is also widely expected to raise capital for a Postbank deal. (Sources)
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.
'Share News: China May Launch Antimonopoly Probe Into BHP Potash Bid' edited by paddypowertrader, updated 01-Sep-10
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