Share News: US Stock Market Indices Close Higher

UK Shares News

US Shares News

European Shares News

Share Trading - 22 Nov 2010

UK Share Trading News

• Rolls Royce – Co. said it has won an order from Air China worth USD 1.8bln to provide engines for 20 new aircraft. (RTRS)
  
  
• BP - A federal officer asked a judge to revoke co.'s criminal probation stemming from a Prudhoe Bay oil spill in 2006, a move that could lay co. open to new penalties in addition to the conviction it received after the incident. (WSJ)
  
  
• Lloyds - Co. is estimated to have GBP 30bln of loans and assets in Ireland. (Sunday Express) In other news a member of the Independent Commission on Bank has warned the Co. could be earmarked for a breakup. (FT)
  
  
• Anglo American – Co. plans to sell the Callide thermal coal mine in Queensland. (Sources)
  
  
• Tesco – Co. said the overall performance of the Asian businesses has continued to be strong. (Sources)
  
  
• Also, co. plans to quadruple revenue in China to about GBP 4bln over the next five years by more than doubling its number of hypermarkets to more than 200. (RTRS)
  
  
• Reed Elsevier – There is speculation the Co. may be broken up or bought by a PE firm. (Daily Express / Independent)
  
  

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US Share Trading News

• Equities finished in minor positive territory after opening lower following the surprise decision from the PBOC to raise their reserve ratio by 50 basis points. Stocks saw a late rally into the close and pared losses as hopes strengthened that Ireland will ask for an EU-IMF bailout. The basic materials and oil & gas outperformed in the S&P 500 as the USD index dipped into the close and prompted a rally in risky assets.
  
  
• At the closing bell the DJIA closed up 0.20% at 11203.55, the S&P 500 closed up 0.25% at 1199.73 and the Nasdaq 100 closed up 0.50% at 2135.27.
  
  
• US Banks - The top 35 US banks will be short of between USD 100bln – USD 150bln in equity capital after the new Basel III global bank regulations are imposed, with 90% of the shortfall concentrated in the biggest six banks, according to Barclays Capital. The BarCap study assumes the banks will need to hold top quality capital equal to 8% of their total assets, adjusted for risk. (Weekend FT)
  
  
• Genzyme – Co. would consider a new deal structure that Sanofi has said it would be open to, according to people familiar with the matter. Co. has been holding internal discussions to consider the use of a contingent value right (CVR), which gave shareholders more value if the acquired company hits benchmarks. (WSJ)
  
  

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European Share Trading News

• Bayer – Co. has announced that in Phase 3 studies of patients with ‘wet AMD’ found the ‘VEGF Trap-Eye’ successfully met the primary endpoint. (Sources)
  
  
• RWE – Co. has confirmed it is willing to sell its stake in Berliner Wasserbetriebe. (ARD)
  
  
• ThyssenKrupp – Co. is considering the sale of its Chinese joint venture, Shanghai Krupp Stainless. (Handelsblatt)
  
  
• Adidas – Co. says it has not prepared any defence plan against a potential takeover, and is not planning any large acquisitions (Frankfurter Allgemeine Sonntagszeitung)
  
  
• K+S – According to co.’s CEO, co. is considering takeovers to access more deposits as production at existing sites approaches full capacity. (Sources)
  
  
• AXA – Co. has bought a 51% stake in Azeri insurance firm Mbask. (Star)
  
  
• Danone – Co. has played down speculation it may dispose of its water arm. (FT)
  
  
• Vivendi – Co. CEO has said the acquisition of Vodafone’s 44% stake in SFR is the highest priority. (Telegraph)
  
  
• EDF – Co. denied reports that it is in talks to take part in the Areva’s plans to increase its capital. (CNBC)
  
  
• EADS – The US Air Force has postponed its decision over the awarding of approximately USD 50bln air refuelling tanker contract, now set only to disclose a winner in the New Year. (RTRS)
  
  
• Irish Banks – Ireland’s banks will have to be restructured as part of a financial bailout and the country’s financial sector will become significantly smaller as the result, according to the Irish PM Cowen. (FT)
  
  
• Unicredit – According to co.’s chief, co. might leave countries in which it considers its businesses as not profitable enough. (APA)
  
  
• ACS – Co. already holds 17% of Iberdrola and is aiming to reach 20% by the year end. (El Economista)
  
  
• Novartis – Co. has denied reports it is planning to cut 1000s of jobs. (Der Sonntag)
  
  
• Roche – Co. CEO has said the Co. is open to opportunities to make small or medium sized acquisitions (SonntagsZeitung)
  
  

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