Scalpuman
Admin
Posts : 1174
Join date : 2009-05-13
 |  Subject: ADVFN Morning Euro Markets Bulletin - August 9th 2010  Mon Aug 09, 2010 9:22 am | |
| By ADVFN.comADVFN offer FREE streaming stocks and shares data form around the world. SEE| London Markets Report |
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 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. |
| | Goa India investment property with amazing returns! |
If you’re looking for a great investment property that offers the benefits of a holiday home and great residual, then Mayfair Group offers you a complete hands free ‘armchair’, investment package with yields up to 22% for 180 day occupancy from under $60,000 all in.
Click Here. |
| | UK Event Calendar | NTERIMS
Dragon Oil, Hill and Smith, Morgan Sindall Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (07:00)
Current Account (07:00)
GMS
Chloride Group, Dana Petroleum
FINALS
United Carpets
EGMS
F&C Commercial Property Trust, UK Commercial Property Trust
AGMS
Central China Goldfields, Tanfield Group
FINAL DIVIDEND PAYMENT DATE
Bisichi Mining
|
| | Make 150+ points profit in one day |
Trendsignal clients made 153 points trading Sterling/US Dollar in one day. You could have done the same. Come to a free online seminar and learn how. Click Here. |
| | European Market Reports |
Europe’s main markets made a good start to the new week, with banking shares leading the advance.
Societe Generale, BNP Paribas, Credit Agricole and Deutsche Bank are all in demand.
In the UK, bosses of big banks have reacted to criticism over lending by outlining a series of proposals to increase the availability of finance to businesses.
The chairman of the British Bankers Association Stephen Green, who also chairs HSBC, has written to chancellor George Osborne to underline the industry’s willingness to help give businesses access to adequate finance.
Across the markets, the Dax in Frankfurt is up 78 points at 6,337, while the Cac in Paris added 56 points to 3,772.
BP’s “static kill” and cementing procedures at the broken MC252 well have been “successful”, stopping oil leaking into the Gulf of Mexico, the company confirmed Monday as the cost of the spill topped $6bn.
The first of two relief wells should also make contact with the original well on 15 August, the oil giant said. Over 30,000 people, 5,000 vessels and dozens of aircraft are still involved in the response effort, which comes at a cost to BP.
CAC 40 - Risers
Societe Generale € 46.65 +2.49%
AXA € 14.59 +2.46%
BNP Paribas € 57.05 +2.41%
Saint Gobain € 33.79 +2.27%
Lafarge € 40.94 +2.17%
Total € 40.82 +2.02%
Credit Agricole € 11.22 +2.00%
Alstom € 42.91 +1.92%
Unibail-Rodamco € 152.70 +1.87%
Vivendi € 18.59 +1.86%
CAC 40 - Fallers
ST Microelectronics € 6.28 -0.21%
Michelin € 63.82 -0.13% |
| | Open a Selftrade Dealing account... |
...and pay a flat £12.50 per trade. Deal in UK and International Equities, Funds, Bonds, Covered Warrants and Listed CFDs. Instant account funding via debit card. No dealing fee on fund purchases. Annual Management Fee of £35 + VAT. Click here |
| | US Markets Report |
Wall Street bounced back near the close as investors had second thoughts over the latest non-farm payrolls report.
After heavy falls initially, the Dow closed down 21 at 10,653. Nasdaq shed 4 at 2,288 and the S&P 500 fell 4 to 1,121.
The economy shed 131,000 jobs in July, according to figures from the Labor Department, with 143,000 public sector census workers being laid off.
Private non-farm payrolls expanded by 71,000 in July compared with the 83,000 jobs created in June. Economists expected the private sector to add 100,000 jobs in July.
The unemployment rate was steady at 9.5%, better than expectations of a rise to 9.6%
On the earnings front, AIG, the insurer which is nearly 80%-owned by the government, reported a loss of $2.66bn in the second quarter due to costs linked to the sale of Alico. Excluding the goodwill impairment charge, New York-based AIG made a $1.3bn profit for the three months period.
Kraft is one of two risers in the Dow after its second quarter earnings of 60 cents a share were higher than expected.
Drug research equipment supplier PerkinElmer also reported better than expected earnings per share. In contrast, audio systems supplier Harman International Industries reported disappointing figures. Games publisher Activision Blizzard says that sales will be much lower than expected.
Fannie Mae narrowed its quarterly loss to $1.2bn in the second quarter from a $11.5bn loss in the first quarter.
BP moved another step closer to ending the Gulf of Mexico oil spill by completing cementing operations at the MC252 well, part of the “static kill” procedure. The oil giant, which began the operation earlier this week by pumping mud into the broken well, was given clearance to begin cementing yesterday.
S&P 500 - Risers
PerkinElmer Inc. $22.29 +11.17%
Massey Energy Co. $34.15 +5.24%
MEMC Electronic Materials $9.98 +4.72%
CMS Energy Corp. $16.89 +4.32%
S&P 500 - Fallers
Harman International Industries Inc. $29.88 -11.60%
Washington Post Co. $376.20 -7.93%
Office Depot Inc. $4.54 -6.97%
Jabil Circuit Inc. $13.30 -6.54%
Dow Jones I.A - Risers
Kraft Foods Inc. $30.36 +2.36%
McDonald's Corp. $71.74 +1.83%
Microsoft Corp. $25.55 +0.72%
Coca-Cola Co. $56.75 +0.67%
Dow Jones I.A - Fallers
JP Morgan Chase & Co. $40.44 -2.01%
International Business Machines Corp. $130.14 -1.28%
Exxon Mobil Corp. $61.97 -1.18%
E.I. du Pont de Nemours and Co. $42.11 -0.87% |
| | 100% Bonus with CMS Forex. That's 100%! |
Open an account with CMS Forex with at least $500 and you will receive a 100% deposit bonus. Every time you trade 10 lots you will get $50 until you have received all 100% of your deposit. There is no maximum - deposit $100,000 and you can earn up to $100,000. Already have a CMS account? You can still get the 100% bonus on your next deposit. Click Here |
| | Press round-up: Lloyds, BP, Barley |
The Bank of England has warned Lloyds andRoyal Bank of Scotland that they could face penalties from Brussels if there was an extension of the special funding scheme put in place during the financial crisis.
The Bank believes that such an extension could break European Union state aid rules, because it would primarily help the two state-controlled banks rather than the banking sector, the Times says.
BP, the embattled oil - company, has confirmed that a test on the cementing operation needed to plug its leak in the Gulf of Mexico had been successful. The company said that tests had indicated that there was an effective cement plug in the blown-out pipe, “which was the desired outcome”. The success - almost four months after the catastrophic leak started - came after an earlier procedure known as ‘static kill’ was launched to stem the flow of oil. That process involved filling the pipe with mud and cement from the top, the Telegraph reports.
The price of barley, an important feed grain for the European livestock industry, has more than doubled in six weeks in response to the drought affecting Russia and Ukraine, prompting fears of increases in the cost of meat and poultry. European feed barley has risen to €210 a tonne, up 130 per cent from €90 a tonne in mid-June. Traders said feed barley was trading at par with milling wheat, an unusual situation, the FT reports.
New US whistleblowing incentives within the Dodd-Frank financial reform act – that could net informants multimillion dollar pay-outs – are likely to generate a surge in allegations against US-listed companies and Wall Street banks, lawyers say. The Securities and Exchange Commission is expecting a sharp increase in tip-offs from senior employees and third parties prompted by potential seven-figure bounties, the FT reports.
More than 370,000 small shareholders in International Power are set to receive an average of about £350 in cash as a result of a partial takeover by GDF, which is expected to be announced tomorrow. The French power group will pay a cash sweetener of about £1.4bn, or 90p a share, to seal the deal, which should be unveiled alongside both groups’ half-year results, the Times reports.
Many of Britain's biggest companies face a "material risk" from the size of their pension deficits, with 10 members of the FTSE 100 weighed down by pension liabilities that are greater than their market value. The total pension deficit of the FTSE 100 was an estimated £73bn at the end of June, according to research by Pension Capital Strategies , a division of insurance broker Jardine Lloyd Thompson. That is a £17bn improvement on a year earlier, the Telegraph reports.
The number of employers planning to shed workers has leapt back up to levels last seen in the depths of the recession, according to a survey to be published today. As the Chancellor’s austerity plans begin to bite, a third of bosses expect to cut jobs this autumn, up from 29 per cent in the spring and 26 per cent last winter, says a quarterly labour market outlook from the Chartered Institute of Personnel and Development and the accountancy KPMG, the Times reports.
Graduates face paying thousands of pounds more for their degrees after the Government announced that a tax on future earnings was its preferred option for university funding. David Willetts, the Tory minister responsible for higher education, cleared the way for the levy and headed off a coalition split when he confirmed that the independent review into funding was being encouraged to look at ways of raising more from graduates, the Times reports.
Cuts to investment in Britain's rail network will put economic growth at risk, business leaders have warned the Government. The British Chambers of Commerce and smaller local chambers from across the UK have written to Vince Cable, the Business Secretary, and Philip Hammond, the Transport Secretary, to warn them against making "hasty and ill-conceived cuts", the Telegraph reports.
Key energy and planning reforms must be delivered by the Government within six months or it risks missing targets for reducing carbon emissions and improving energy security, business leaders will warn today. Uncertainty about the planning regime is making investors wary of committing to new energy projects and possibly jeopardising supplies, the Confederation of British Industry says, the Independent reports.
Mortgage fraud has nearly quadrupled in the first six months of 2010, KPMG's "fraud barometer" has found, with incidents of deception involving home - loans reaching a 22-year high. The accountancy firm's figures show there were 21 cases of mortgage fraud in the first half of 2010 with a value of £96m, compared to just 18 worth £24m during the same period last year. In fact, the figure for the whole of 2009 was just £77m, the Independent reports. |
| |
|
