Share News: Unite Union Considers Pay Freeze for BA Cabin Crew
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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 - 8 March 2010
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UK Share Trading News
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- Vodafone – Apple executives are arriving in Britain this week for talks with mobile-phone companies over which network will sign up its iPad tablet computer. (Sunday Times)
- Mining stocks – Demand for global metals should improve radically between now and next year, due in large part to bulk consumption by Chinese infrastructure projects, a top strategist for HSBC metals said on Sunday. (RTRS)
- Royal Dutch Shell – Co. and PetroChina made a joint bid for Australia’s Arrow Energy in a deal worth at least USD 3bn. In other news, co. says discussion is underway to acquire Arrow Energy Limited, however these discussions may or may not lead to an agreed transaction. (RTRS)
- Anglo American – Co. said it had received strong interest in its USD 800m zinc assets but would not confirm that Vedanta Resources and Hudbay Minerals were the front-runners to acquire them. (RTRS)
- Lloyds Banking Group – HBOS Integrated Finance, the failed bank’s collection of investments in companies such as Vue Cinemas and Café Nero could be sold this week and fetch about GBP 500m. (Sunday Times)
- RBS – The attempted sale of a network of 320 RBS branches is faltering after the emergence of a GBP 3bn funding gap. Documents sent to prospective bidders show the network is dependent on emergency funding from the BoE. The loans were part of extended aid to RBS via the Special Liquidity Scheme, and will have to be replaced by the new buyer within weeks of taking control. (Sunday Times) In other news, co. has applied for a securities licence in China, as it seeks to expand its presence in the country. (FT)
- AstraZeneca – Co. said the experimental Recentin medicine failed to meet the main goal in tests for us as a first-line treatment for colon cancer. (RTRS)
- BHP Billiton – Steelmakers in China have signed provisional pricing contracts with co. that started from Jan 1. (BBG)
- British Airways – The Unite union is considering a two-year pay freeze for flight attendants to avert a co. cabin crew strike. (Guardian)
- BAE Systems – The Investment Approvals Board of the MoD will meet this week and is expected to give the green light to a new GBP 4bn reconnaissance vehicle procurement called Fres, but delay the full launch of a GBP 1bn programme to install new turrets and weapons in the British Army’s BAE Systems Warrior infantry vehicles. The Warrior upgrade is to be done by BAE Systems or competitor General Dynamics. (Sunday Express)
- Prudential – Co. Chairman has said the insurance giant is braced for a period of share price volatility as investors take short positions during the planned USD 35.5bn bid for AIA. (Telegraph) In other news, co. is to seek listing on the Hong Kong stock exchange update on combination with AIA, and to have the listing effective prior to launch of the rights issue announced on 1 March 2010. (RTRS)
- Petrofac – Co. said FY net income rose to USD 353.6m vs. Exp. USD 331m (Prev. USD 265m in 2008) as orders for oil and gas engineering projects increased. Co.’s FY revenue USD 3.66bn vs. Exp. 3.57bn (Prev. USD 3.33bn). (BBG)
- WM Morrison – The co. is expected to show a 16% increase in FY profits this week. (Telegraph)
- Liberty International – Co. is expected to confirm plans that it is to split into two parts when it announces results this week. It is believed it may also detail plans to raise more cash from investors in a rights issue. (Independent on Sunday)
- Intertek Group – Co.’s FY adjusted operating profit GBP 209m vs. Prev. 164.7m, and FY sales GBP 1.24bn. Co. to increase FY dividend by 22.6%. (BBG)
For more on spread betting on UK shares see:
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US Share Trading News
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Equities finished higher after risk appetite increased in reaction to a consensus beating Non-farm payrolls figure.
The financial and basic materials sectors were the outperformers in the S&P 500, closely followed by the oil & gas which rallied as the inverse relationship between the USD index and the energy complex broke down.
Stocks were given a second lift in the latter half of the session after an encouraging US consumer credit print. In terms of individual performers; Apple (+3.91%) posted decent gains and led the march higher in the NASDAQ 100 after unveiling a date and price for their iPad, US Steel (+3.99%) also finished higher following an upgrade at Argus.
At the close; the S&P 500 closed up 1.40% at 1138.70, the DJIA closed up 1.17% at 10566.20 and the NASDAQ 100 closed up 1.55% at 1888.56.
- Hewlett-Packard – Co. said it restated its previously announced financial results for its Q1 after developments in litigation involving Electronic Data Systems Corp., which co. acquired in August 2008. Co. revises Q1 adjusted EPS to USD 1.07 vs. USD 1.10 and revises negative effect of Q1 about USD 73m. Says Q1 non-GAAP net earnings have been revised to USD 2.59bn and says seeking permission to appeal the ruling. (BBG/RTRS)
- Teva – According to sources, co. may experience difficulties integrating Ratiopharm if successful with bid. (Sources)
- Bank of New York Mellon – Co. agrees to acquire BHF asset servicing GMBH, in a deal valued at USD 343m. The transaction is expected to be immediately accretive to GAAP EPS. (RTRS)
- Kraft – Co. is facing an investigation over whether it misled Cadbury’s staff and investors during its acrimonious takeover of the confectioner. (Sunday Express)
- Boeing – China’s airlines may buy 218 planes this year. No specific model names were mentioned in a report. (China News Services)
- Time Warner – Co shares have traded in a very narrow range for the past few months. New co. director apparently thinks they could break out, and has put a $1 million bet on the company. Fred Hassan, the chairman and chief executive officer of Schering-Plough bought 34,000 shares for about $29.83 each. Hassan was voted onto the board last October and had not previously purchased shares. His share purchase brought his ownership level well beyond the company’s expectations for directors. Time Warner expects directors to own at least 10,000 shares of the company’s stock within five years of being elected. (Barrons)
- AIG – Co. was closing in on a deal on Sunday to sell its foreign life insurance unit to MetLife for about USD 15bn in cash and stock, ultimately giving it more than 20 percent of MetLife, sources familiar with the matter said. (RTRS)
- Simon Property – Concerns expressed by retailers raises possibility that co. and General Growth deal would face antitrust scrutiny. (RTRS)
For more on spread betting on US shares see:
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European Share Trading News
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- German chancellor Merkel’s government is planning an extraordinary fee to finance the rescue of the bank industry. (Wirtschaftswoche)
- Deutsche Telekom – Co. might sell its stake in PTC, the Polish mobile operator controlled by co., if good price is offered. (Parkiet)
- Merck KGaA – Co. is considering continuing along the acquisition trail. (Frankfurter Allgemeine Zeitung)
- Daimler – Co. says will not comment on potential writedowns in connection with EADS before Q1 figures on April 27. (RTRS) In other news, chairman says the weakening EUR is a long-term problem for the European economy even though it boosts the fortunes of individual companies although the strengthening of the USD against the EUR was helping exporters in the short term. (FT.com)
- Total/EDF – Companies will this morning announce an agreement to create a EUR 1bn methane terminal at Dunkirk. (Les Echos)
- Sanofi Aventis – Co. does not rule out acquisitions in Poland. (Rzeczpospolita)
- Credit Agricole – Co.’s new CEO Chifflet said that more joint projects with Societe Generale are possible if they lead to reduced costs for clients. (Le Figaro)
- Lafarge – Co. has agreed to swap a stake in Portugal’s Cimpor for cement plants in Brazil owned by Cimentos. (BBG)
- EADS – The partner nations in the A400M agreed to raise their share of the contract price by EUR 2bn. Furthermore, said it will report a loss for 2009 after raising charges linked to the A400M military plane. The co. will also report an operating loss when it unveils earnings for the last year on March 9, co. said in a statement on Friday. Says will increase provisions on the A400M by EUR 1.8bn (USD 2.45bn) on a pre-tax level for 2009. So far, the co. had booked charges on the program of EUR 2.4bn. (BBG) In other news, China’s airlines may buy 218 planes this year. No specific model names were mentioned in a report. (China News Services)
- Veolia – Co. is planning to divest EUR 1bn of assets every year for the next 3-5 years to reduce indebtness and generate cash for new investments in more strategic projects, said co.’s managing director on Friday. (Sources)
- Banco Santander/BBVA – Companies are in a group of banks interested in bidding for GE’s 20.8% stake in Turkiye Garanti Bankasi. (Europa Press)
- Repsol – Co. and Statoil sell exploration block to Petrobas, terms of the transaction were not disclosed. (Expansion)
- Nestle – Co. is seen as potential buyer for Belgian holding co. NPM/CNP which plans to sell its wholly-owned Belgian Icecream Group. (De Tijd)
- Roche – Co. and Biogen have put on hold their rheumatoid arthritis ocrelizumab programme. (BBG)
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: Unite Union Considers Pay Freeze for BA Cabin Crew' edited by paddypowertrader, updated 08-Mar-10
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