Share News: BHP Billiton Aims to Raise Coal Prices
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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 - 23 February 2010
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UK Share Trading News
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- AstraZeneca – Co. increased its core EPS target for 2010 to a range of USD 5.90-6.30 from its previous forecast of USD 5.75-6.15 after agreeing to pay GBP 505bn to settle a UK tax dispute. (BBG)
- Rio Tinto – Co. says first half demand looking strong, however it has concern for second half metals outlook. Co. is concerned that removal of government stimulus packages and any slowing of consumer spending may dent demand for metals in the second half. (BBG)
- BHP Billiton – Co. is seeking to raise coal prices for Japanese steelmakers by 55% for fiscal 2010. Japanese buyers oppose the price plan. (Nikkei) – Australia says no date has been set yet for the trial of four co. staff detained by China.
- British Airways – Unite Union members have voted ‘yes’ in their ballot on strike action at co., according to unidentified people familiar with the situation. No date has yet been set but union Unite said it wouldn’t hold action over the Easter holiday. (BBG)
- Wolseley – Co. expects trading profit before exceptional items will exceed current analysts’ consensus forecast of GBP 326bn for financial year to 31 July 2010. (BBG)
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US Share Trading News
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Equities finished down after opening higher with the financial sector the outperformer in the S&P 500.
Stocks immediately drifted to the downside despite decent earnings before the bell with the oil and gas sector weighing. With a relatively light economic calendar, equities moved off their lows and edged higher in the closing stages of the session.
At the closing bell; the S&P 500 closed down 0.1% at 1108.01, the DJIA closed down 0.18% at 10383.38 and the NASDAQ 100 closed down 0.31% at 1817.63.
- US banks – Banks may expand their short-term lending at interest rates of 120% or more as they seek to replace more than USD 15bn in lost revenue because of regulations limiting overdraft fees. (BBG)
- DTE Energy – Q4 operating EPS USD 0.72 vs. Exp. USD 0.72, sees 2010 adjusted EPS USD 3.35-3.75 vs. Exp. USD 3.41. (BBG)
- Google/Yahoo – Cos. were sued by Xerox over patent-infringement claims related to search queries and data integration. (BBG)
- Google – The Deal.com suggests that TomTom may be acquired by the co. (The Deal.com)
- Intel – Co. is working with venture-capital firms to start a USD 2bn fund that would invest solely in US companies. (WSJ)
- Wal-Mart – Co. is making a major move into the business of selling movies over the internet. Co. has agreed to buy Vudu, whose online movie service is built into an increasing number of HD televisions and Blu-ray players, according to a person briefed on the deal. The terms of the acquisition could not be learned. (BBG)
- Morgan Stanley – Co. is in late stage talks to sell its stake in China International Capital Corp to Kohlberg Kravis Roberts & Co. and TPG Capital for more than USD 1bn, according to three sources familiar with the situation. (RTRS)
- Honeywell – Co. sees adding 6,000 people in China by 2014 and 5,000 people in India. (BBG)
- Visa/Mastercard – Fitch says negative rating actions possible for US credit card companies. (BBG)
- Aflac – Fitch downgrades co.’s debt ratings, co.’s IDR cut to A from A+; outlook negative. (BBG)
- Thermo Fisher/Millipore – Thermo Fisher said to make USD 6bn bid for Millipore. A Thermo Fisher spokeswoman says Millipore bid report is a rumour. (BBG/theflyonthewall.com)
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European Share Trading News
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- Siemens – Co. not interested in regaining majority of Gigaset. (Boersen Zeitung) Also, according to reports, co. may not succeed in selling hearing aid business for EUR 2bn. (Handelsblatt)
- Commerzbank – Q4 net loss EUR 1.86bn vs. Exp. EUR 1.26bn loss, Q4 loan loss provisions EUR 1.32bn vs. Exp. EUR 1.3bn. Co. says Q4 tier 1 ratio 10.5%. Says monoline exposure reduced significantly and says still potential risk for monoline defaults. Co. says sees “significantly improved” trading result in 2010 and says had “very good” January. Adds that cannot promise operating profit for 2010. (BBG)
- Merck KGaA – Q4 adjusted EPS EUR 0.95 vs. Exp. EUR 1.08, Q4 net profit EUR 56.7bn vs. EUR 279.5bn loss, Q4 sales EUR 2.03bn vs. Exp. EUR 2bn. Sees 3-7% increase in 2010 group total revenue. (BBG)
- Lufthansa – Co. pilots agree to suspend strike, reports DPA Newswire. (BBG)
- Q-Cells – Co. misses expectations with FY results after it posted FY Ebit loss of EUR 481bn and sales of EUR 801bn, weaker than expected. (BBG)
- Continental – Co. says expects revenue to rise at least 5% in 2010, and sees clear improvement in 2010 adjusted EBIT. Co. confirms will not pay a dividend for 2009. (RTRS)
- Total – Co. will meet with unions today in an effort to end a dispute that threatens fuel shortages. (BBG)
- GDF Suez – Co. says has not sent request to Energy Regulatory Commission, following press reports of tariff increase. (Sources)
- Vivendi – Co. says has yesterday bought 5.1% of Canal + France Capital, paying the floor price of EUR 384.2bn; M6 exercised put option on Feb. 1. (RTRS)
- ArcelorMittal – Co.’s CEO said the worst of the crisis is over, but it will take some time before returning to pre crisis levels. (RTRS)
- EDF – According to sources, co. may use power assets and cash to buy EUR 1.6bn stake in Edison SpA. (BBG)
- Carrefour – Carrefour Belgium plans to propose cutting between 2,000-5,000 jobs out of total of 15,000. (De Tijd)
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: BHP Billiton Aims to Raise Coal Prices' edited by paddypowertrader, updated 23-Feb-10
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