Date: Monday 09 Aug 2010
A late rally in the US on Friday has helped Footsie rebound through 5,400 again.
International Power is the best performer on widespread reports it will reveal a merger with French utility GDF Suez. That should trigger a £1.3bn windfall for International Power shareholders. The deal is expected to be announced tomorrow.
BP’s “static kill” and cementing procedures at the broken MC252 well have been “successful”, stopping oil from leaking into the Gulf of Mexico, the oil giant confirmed Monday. The first of two relief wells should also make contact with the original well on 15 August. The disaster has cost the company $6.1bn so far, including $319m to settle almost 104,000 claims. Another 41,000 claims are currently being processed.
Drug giant AstraZeneca has agreed to pay a total of $198m in compensation to about 17,500 claimants in the US in relation to its bipolar disorder treatment Seroquel. The terms of the agreements, which came after court mediation, are confidential, Astra said. The payments will not be reflected in 2010 earnings and guidance for profits in the year remains unchanged at $6.35 to $6.65.
Pub and restaurant group Mitchells & Butlers is to sell the operations and leaseholds of its Hollywood Bowl business for £27m cash to AMF Bowling. M&B will also sell the remaining freehold property interests in four of the sites for at least £12m “in due course”.
Oil and gas services group Petrofac has won a $430m contract with Kuwait Oil Company (KOC) to develop a water pumping system that will help increase oil recovery. ‘The project involves the installation of a new central injection pumping facility and modifications to three of the existing gathering centres and seawater treatment plant,’ Petrofac said.
Specialist brick, land development and landfill firm Michelmersh Brick said trading during the first half of the year has been in line with management's expectations and is well placed for good progress through the rest of 2010 and beyond.
International Power is the best performer on widespread reports it will reveal a merger with French utility GDF Suez. That should trigger a £1.3bn windfall for International Power shareholders. The deal is expected to be announced tomorrow.
BP’s “static kill” and cementing procedures at the broken MC252 well have been “successful”, stopping oil from leaking into the Gulf of Mexico, the oil giant confirmed Monday. The first of two relief wells should also make contact with the original well on 15 August. The disaster has cost the company $6.1bn so far, including $319m to settle almost 104,000 claims. Another 41,000 claims are currently being processed.
Drug giant AstraZeneca has agreed to pay a total of $198m in compensation to about 17,500 claimants in the US in relation to its bipolar disorder treatment Seroquel. The terms of the agreements, which came after court mediation, are confidential, Astra said. The payments will not be reflected in 2010 earnings and guidance for profits in the year remains unchanged at $6.35 to $6.65.
Pub and restaurant group Mitchells & Butlers is to sell the operations and leaseholds of its Hollywood Bowl business for £27m cash to AMF Bowling. M&B will also sell the remaining freehold property interests in four of the sites for at least £12m “in due course”.
Oil and gas services group Petrofac has won a $430m contract with Kuwait Oil Company (KOC) to develop a water pumping system that will help increase oil recovery. ‘The project involves the installation of a new central injection pumping facility and modifications to three of the existing gathering centres and seawater treatment plant,’ Petrofac said.
Specialist brick, land development and landfill firm Michelmersh Brick said trading during the first half of the year has been in line with management's expectations and is well placed for good progress through the rest of 2010 and beyond.
Source:digitallook
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