BP (BP: 29.39 0.00 0.00%) - Co.’s Dudley says co. needs cash flow to fund claims. Elsewhere, IEA head says wants co. to emerge from spill as a strong co. which is able to produce oil and gas the world needs, says co. should be held responsible for oil spill, says there “were lots of human errors”. (RTRS) In other news, co. has started approaching prospective buyers for USD 10bln in assets it has earmarked for disposal, according to bankers and oil executives. (FT) Also, co. said the rate it captured oil from a broken well in the Gulf of Mexico dropped Thursday morning, as Hurricane Alex passed by the area. (Sources)
UKShell (RDS-A: 49.53 0.00 0.00%) - Co. share prices went down 5% on rumours of possible offer for BP’s divisions. (Het Financieele Dagblad)
Xstrata (XTA.L: 877.20 +31.40 +3.71%) - Co. said it is reviewing a possible restart of early works on its AUD 6bln Wandoan thermal coal project in the light of changes made to the Australian government’s proposed mining tax. (Sources)
British Airways (BAY: 79.44 0.00 0.00%) - Co. trustees of its airways pension scheme entered into an insurance transaction with Rothesay Life. Says transaction covers 20% of pensioner liabilities worth GBP 1.3bln and will not change contributions from co. (RTRS)
Companies paying Dividend: Associated British Foods (GBP 0.0760)
Dana Petroleum - Co. says South Korea’s national oil company is exploring a GBP 1.5bln takeover offer for the company. (FT)
Rockhopper Exploration - Co. released results of sample analysis of Sea Lion exploration well: Sealion API confirmed as 26.4-29.2 degrees, and Sea Lion low viscosity of 6.5-8.5 centipoises at reservoir pressure. (RTRS)
USEquities fell on Thursday after weaker US claims data, and yet more disappointing housing data, this time pending home sales for May. In addition ISM Manufacturing missed estimates, with each of the key components retreating as well. However, some of the stock losses were pared back in the second half of the day. The Health Care sector generally underperformed and Basic Materials were under pressure after a slowdown in Chinese Manufacturing. At the close the S&P 500 finished down 0.32% at 1027.37, the DJIA finished down 0.42% at 9732.53 and the NASDAQ 100 finished down 0.27% at 1734.41.
Ford (F: 10.57 0.00 0.00%) - June US sales rise 13.3% vs. Exp. rise 16%. Says estimates co. US market share for June at north of 17%. (RTRS)
Chrysler - June US sales rise 35% vs. Exp. rise 33%, third consecutive month of Y/Y increases. Says 12% sales increase in the first half, compared with the first six months of 2009. (RTRS)
General Motors - June US total vehicle sales rise 10.7% vs. Exp. rise 16%. (Sources)
AIG (AIG: 33.88 0.00 0.00%) - Co. to sell Japan units Star and Edison together, could roughly fetch USD 5bln. (WSJ)
EuropeDaimler - Co. says Mercedes Benz June US total sales rise 25.4%. (RTRS)
Volkswagen - US June total sales rise 10.6% to 21,051 vehicles. Audi June US sales rise 14.3%, setting a half-year sales record. (RTRS)
BMW - Co. says US June total sales rise 11.9%. (Sources)
Lufthansa - Co. won’t charge extra for food, drinks, and pillows, according to the CEO. Co. also doesn’t plan to cut costs by using its discount unit Germanwings to operate short-haul flights in Germany. (Handelsblatt)
Sanofi-Aventis - Co. is preparing an acquisition in the US that may be worth USD 20bln or more, according to people familiar with the matter. (RTRS)
GDF Suez - S&P revises co. outlook to stable; affirmed at ‘A/A-1′. (RTRS)
Axa - National Australia Bank has received approval from New Zealand’s Overseas Investment Office to buy Axa Asia Pacific Holdings’ assets, according to a statement from Auckland-based law firm Russell McVeagh. (Australian Financial Review)
LVMH - Co. said it will buy 70% stake in Brazil’s Sack’s. (Sources)
Veolia - Co. said it has closed a bond exchange offer that will lengthen the average duration of funding. Co. added that the order book reached EUR 1.2bln for the new EUR 835mln bond line maturing in 2021. (Sources)
Schneider Electric - Co. has won a contract worth USD 1.3bln to renovate the electricity network of the Turkmenistan capital Ashgabat, according to sources. (La Tribune)
Lagardere - Co. said it will launch IPO process for Canal+ France, however an agreement has not yet been reached for Canal+ France stake sale. (Sources)
Cash calls expected as Europe’s banks face tests. (FT) Bankers and analysts expect up to 20 of Europe’s banks to be forced into cash calls as a result of this month’s stress tests, raising up to EUR 30bln (USD 37.3bln) of fresh equity.
Enel - Spain’s Ree says agrees to buy co.’s Endesa grid assets for EUR 1.411bln. Co.’s CEO says there are 4 candidates to buy Endesa gas grid, will decide in September at the latest. (RTRS)
Nestle - Co. could go on a buying spree with USD 28.1bln when it receives its Alcon stake proceeds in Q2 2010. In other news, co. could make buys in India in the near term, according to sources. (Sources/Calgary Herald/Economic Times)
Roche - Co. said a second phase 3 study showed that the combination of Avastin and chemotherapy followed by the continued use of Avastin alone, increased the time women with previously untreated ovarian cancer lived without the disease worsening compared to chemotherapy alone.
No comments:
Post a Comment