Share News: Hewlett Packard Forecasts Beat Market Expectations
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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 - 29 Sep 2010
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UK Share Trading News
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UK FSA’s chairman Turner said big banks should face higher capital requirements than smaller lenders as the risks in the event of bankruptcy are greater.
He added that when big lenders fail, they need an alternative to traditional bankruptcy procedures, to minimise damage to the economy. He also said that governments should consider introducing a financial transaction tax. (Sources)
- Rio Tinto – Co. is not interested in acquiring a stake in Russian potash maker, Uralkali. (Vedomosti)
- British Airways – Co.’s Transatlantic joint business signed with American Airlines and Iberia worth a combines USD 7bn in annual revenues, this joint business with launch in October. (RTRS)
- Scottish & Southern Energy – Co. said it remains on course to achieve its principal financial objective for 2010/11, an increase of at least 2% more than RPI inflation in the dividend payable to shareholders. (RTRS)
- Tullow Oil – Sinopec and CNOOC believe co.’s share trading too expensively to warrant a bid approach. (Sources)
- Smiths Group – Co.’s FY pre-tax-profit climbs 17% to GBP 435m. Co. says the uncertain economic outlook and constraints on government spending will continue to affect sales growth. (Sources)
- Cobham – Co. has completed the sale of Satori, which trades as Cobham Maintenance Repair and Overhaul to management for EUR 7.9m. (Sources)
- LSE – Co. said the average daily value traded in the UK in the five months to 31st August rose 9% Y/Y to GBP 5.0bn. Co. also said that group volume climbed 12%, which was lifted by a 16% increase at Borsa Italiana. (Sources)
- Companies paying Dividend: British American Tobacco (GBP 0.3320)
- Companies going Ex-Dividend: Centrica (GBP 0.03840), Inmarsat (USD 0.1400), International Power (GBP 0.4390), Morrison Supermarkets (GBP 0.0123), Tullow Oil (GBP 0.0200).
For more on spread betting on UK shares see:
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US Share Trading News
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Despite starting the session on the back foot post weaker than expected US consumer confidence data, equities staged a remarkable rally in the second half of the trading session to finish the in firm positive territory.
The reversal in risk appetite saw all 10 sectors in the S&P 500 index close in the green, with gains led by consumer services and oil & gas sectors. Downbeat comments by Meredith Whitney did little to damped investor sentiment and equities touched on the best levels as the session drew to an end.
Finally, at the closing bell DJIA closed up 0.43% at 10858.14, the S&P 500 closed up 0.49% at 1147.70 and NASDAQ 100 closed up 0.07% at 2012.43.
- US Banks – Meredith Whitney says there will be another housing ‘double dip’, says even though US banks are well capitalised, state banks will be hurt by housing dip. Says Q4 is going to be very tough on banks, says there is no way to make money on banks and would sell regional banks. Also says banks will see 25% sequential decline in equity trading. (CNBC)
- AIG – Obama administration hopes to announce by next week a plan to end its support for co. (New York Times)
- Hewlett Packard – Co.’s forecast earnings and sales for fiscal 2011 that exceeded analysts estimates and said its considering good internal and external Chief Executive Officer candidates. Co. says it continues to look for acquisitions and will grow R&D faster than revenue in FY11 which is seen at USD 131.5-133.5bn. Says sees FY non-gaap EPS at USD 5.05-5.15 vs. Exp. USD 5.01. (Sources)
- Boeing – Co. said to get USD 5.3bn navy order for 12 F/A-18 jets. (Sources)
For more on spread betting on US shares see:
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European Share Trading News
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- Peugeot Citroen/Mitsubishi Motors – Co.s have signed an agreement to develop electric version of Peugeot Partner and Citroen Berlingo. (RTRS)
- Peugeot – Co. expects to sell more than 350,000 cars in China, says CEO Varin, also says expects China to become its number 1 market. (Le Figaro)
- Bayer – Co. may make acquisitions in health and bioscience area. (Frankfurter Allgemeine Zeitung) In other news, US judge has reportedly dismissed co’s patent lawsuit against Watson Pharmaceuticals and Novartis, which are seeking to market generic versions of co.’s Yasmin contraceptive. (Sources)
- BMW – Co. says sees exceeding savings target of EUR 6bn. (Faz)
- UBS – Singapore’s GIC plans to hold on to its investment in co. according to GIC’s CIO NG Kok Song. (Sources)
- Roche – NICE, UK’s health cost watchdog, has provisionally recommended trastuzumab for certain patients with metastatic gastric cancer who have high levels of human epidermal growth factor receptor 2. (Sources)
- Santander – Co.’s CEO has said that co. is no longer in talks to merge is US unit sovereign Bank with M&T Bank Corp. (Expansion)
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: Hewlett Packard Forecasts Beat Market Expectations' edited by paddypowertrader, updated 29-Sep-10
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