Archive for March, 2006
** EU WRAP **
Wednesday, March 22nd, 2006** EUROPEAN MARKETS **
S&P future -0,18%; Bund future -0,14%; Crude future 62,4; €/$ 1,20945; Gold
552,77
** HEADLINES **
- U.K.’s Brown May Have to Borrow More to Avoid Tax Increase, Survey Shows
- Sanofi, Bristol Myers Shares May Rise on Blood Thinner Plavix Settlement
- Australia’s Wheat Output to Reach 24 Million Tons in 2006-07, USDA Says
- Gold in Asia Rises on Inflation Concern After Gain in U.S. Prices Measure
- Crude Oil Is Little Changed After Rising on Concern Over Gasoline Supply
** IN PLAY TODAY **
- Earnings of note: Unicredito, HVB, TUI, Metro and Enel
- Sanofi-Aventis SA and Bristol-Myers Squibb Co. said they’ve
settled a patent suit that would keep a generic version of their
blood thinner Plavix, the world’s second-biggest drug, off the
market until 2011.
- UBS places 3.5m shares of Business Objects on behalf of Silver Lake and TPG.
- Porsche AG is targeting a sales increase in the Middle East this
fiscal year, helped by the Cayenne sport-utility vehicle.
- Scottish Power Plc said it has completed the sale of its U.S. PacifiCorp
unit to MidAmerican Energy Holdings Co. for $5.1 billion in cash.
- Metro AG, the world’s third-largest retailer, said profit slumped last year
because of a drop in sales at the German company’s Real hypermarkets. Earnings
will rise in 2006 as Metro expands outside its home market.
Net income fell to 501 million euros, or 1.63 euros a share, from 760 million
euros, or 2.53 euros, a share, a year earlier. Earnings per share from
continuing operations will increase 5 percent to 8 percent in 2006, Metro said.
** US & ASIAN WRAP **
Wednesday, March 22nd, 2006** US MARKETS **
Dow -0,35%; Nasdaq -0,86%; S&P -0,6%; Soxx -0,2%; Russel2k -1,28%; DJAIG 0,52%;
10yr Bond -0,01%; 10yr Yield 4,71%; Crude future 62,4; Gold 552,77
| Telecom 0,13%| Energy -0,19%| ConsStaples -0,38%| ConsDisc -0,51%| Technology
-0,54%| Industrials -0,55%| Healthcare -0,71%| Financials -0,9%| Utilities
-0,97%| Materials -1,21%
** ASIAN MARKETS **
Nikkei -0,78%; Kospi -2,01%; HSI -0,53%; Taiwan -1,03%; China 0,07%; India
-0,07%; Thailand -0,34%; Australia 0,45%
** HEADLINES **
- GM to Increase SUV Production After Sales Exceed Company’s Expectations
- Sanofi, Bristol Myers Shares May Advance After Plavix Patent Settlement
- Dollar May Strengthen on Speculation U.S. Interest Rates Will Keep Rising
- Sun Microsystems Starts Pay-Per-Use Computing Service Online in the U.S.
- Microsoft to Delay Release of Next Windows Program to Consumers Until 2007
- Nike Profit Rises 19 Percent as New Air Max 360, Kobe Shoe Lift U.S. Sales
- Bernanke Says Congress Should Review Loophole Allowing Bank-Commerce Mixes
- Kookmin Plans to Buy $6.2 Billion Korea Exchange Stake in Biggest Takeover
- Asian Stocks Drop, Led by Samsung Electronics on Microsoft Windows Delay
- Indonesia’s Bumi Will Start Talks with Sasol for $3 Billion Coal Plant
- Nissan Earnings to Be `Very Strong’ in Next Year’s Second Half, Ghosn Says
- Seiko Epson Predicts 10 Percent Drop in Inkjet Printer Shipments Next Year
- Samsung, Hynix Shares Fall After Microsoft Delays New Version of Windows
** US AFTER HOURS **
- Nike (after hours -0.72%) released earnings of $1.24 per share. Total revenues
rose 9% year/year to $3.6 bln (consensus $3.53 bln). Co reported worldwide
futures order growth for athletic footwear and apparel growth, excluding
currency effects, of 5.4% vs. expected growth of 7-8% for March 06 through July
06, totaling $5.4 bln. By region, futures orders for the U.S. increased 6% vs.
+6-9% street expectation; Europe (including the Middle East and Africa) declined
2% vs. +0-2% street expectations; Asia Pacific grew 5% vs. 6-9% street
expectations; and the Americas increased 10% vs. 14-16% street expectations.
- Sanofi-Aventis (+6% after hours) and Bristol-Myers Squibb (+8% after hours)
announced that they have reached an agreement subject to certain conditions with
Apotex Inc. and Apotex Corp. to settle the patent infringement lawsuit pending
between the parties. The trial in the lawsuit had previously been scheduled to
begin in June 2006. As a result of the agreement, the Court has now suspended
the trial date pending the possible finalization of the proposed settlement.
** IN PLAY TODAY **
Morgan Stanley and Fedex reported before the US opening bell. Adobe will post
quartely results after the market close.
** EU WRAP **
Monday, March 20th, 2006** EUROPEAN MARKETS **
S&P future 0,05%; Bund future -0,27%; Crude future 62,95; €/$ 1,217; Gold 556,29
** HEADLINES **
- Ericsson, DaimlerChrysler Beat Earnings Estimates, Buoying Stock Markets
- Prudential Plc Shares May Rise After $29 Billion Takeover Offer From Aviva
- Bank Stocks in Europe May Decline as Higher Interest Rates Hurt Profits
- Wolseley May Say Profit Increased on Acquisitions, Building Demand in U.S.
- Dollar to Drop This Week; Traders See Fewer Federal Reserve Rate Increases
- Gold May Rally for Second Week on Iraq War, Iran Nuclear Plans Concern
- European Union Reviews Chip Tariff on Hynix, Reopening Fight With Infineon
** IN PLAY TODAY **
- Earnings of note: Dansico, Collins Stewart Tullet.
- 3i Group Plc, Europe’s biggest publicly traded
buyout firm, and U.K. property entrepreneur Vincent Tchenguiz
are among at least six bidders for U.K. nursing home chain
Four Seasons Health Care Ltd., the Independent reported,
without saying where it got the information.
- Degussa AG, The world’s biggest specialty
chemicals maker, is in advanced talks with two final bidders
for its water treatment unit, the Financial Times
Deutschland said, citing unidentified people familiar with
the situation.
- London Stock Exchange Plc investors may accept a takeover offer of 12 pounds a
share from Nasdaq Stock Market Inc.,the Business reported, citing unidentified
people close to the deal.
- Prudential Plc: American International Group
Inc. and Axa SA are considering bidding for Prudential after the U.K. insurer
turned down an offer by Aviva Plc (AV/ LN), a U.K. rival, the Sunday Telegraph
reported, without citing its sources.
- Roche Holding AG may be active, as Genentech Inc., the world’s second-biggest
biotechnology company and majority-owned by Roche, said 2006 earnings per share,
excluding some items, will rise 40 percent to 50 percent, more than an earlier
forecast. **
** US & ASIAN WRAP **
Monday, March 20th, 2006| ** US MARKETS ** | ||||||
| Dow 0,23%; Nasdaq 0,3%; S&P 0,15%; Soxx 0,06%; Russel2k 0,31%; DJAIG -0,12%; 10yr Bond -0,03%; 10yr Yield 4,67%; Crude future 62,95; Gold 556,29 | ||||||
| | Industrials 0,59%| Technology 0,41%| Healthcare 0,33%| Financials 0,27%| ConsStaples 0,21%| ConsDisc 0,16%| Materials 0,16%| Utilities -0,46%| Telecom -0,52%| Energy -0,94% | ||||||
| ** ASIAN MARKETS ** | ||||||
| Nikkei 1,74%; Kospi 0,42%; HSI 0,9%; Taiwan -0,18%; China 1,02%; India 0,67%; Thailand -0,83%; Australia 0,59% | ||||||
** HEADLINES **
- Bernanke May Say Fed’s Credibility Will Keep Long-Term Interest Rates Low
- Bear Stearns, Lehman Revenue Growth Curbed by Slowing U.S. Housing Market
- U.S. Commercial Building Surges to Best Year Since 2001 as Housing Ebbs
- Dollar May Drop as Traders Predict Fewer Federal Reserve Rate Increases
- U.S. Stocks May Extend Rally, With Bears Ready to Reverse Course and Buy
- Oracle May Post Third-Quarter Profit Gain on Faster Database Sales Growth
- U.S. Treasury Rally May Continue as Inflation Slows, Housing Market Cools
- Sugar, Not Oil, Bonds or Stocks, May Be Best-Performing Investment in 2006
- Alinta Makes $5.1 Billion Hostile Bid for Australian Gas After Rejection
- Asian Stocks Rise to a Two-Month High; Nikko, Woori Investment Lead Gains
- Ford’s Volvo to Start Making S40 Luxury Sedans in China, Compete With BMW
- India’s Central Bank Plans to Detail Steps to Make Rupee Fully Convertible
** IN PLAY TODAY **
Leading Indicators are reported today at 16:00 CET. Oracle will report after the US market closes.
** RUMOUR BLACKSTONE BID FOR TNT**
Friday, March 17th, 2006RUMOUR BLACKSTONE BID FOR TNT
*VODAFONE TO RETURN 6 BILLION POUNDS CASH TO INVESTORS
Friday, March 17th, 2006** MORNING WRAP **
Friday, March 17th, 2006** US MARKETS **
Dow 0.39%; Nasdaq -0.53%; S&P 0.18%; Soxx -3.23%; Russel2k 0.11%; DJAIG 0.25%;
10yr Bond -0.07%; 10yr Yield 4.66%; Crude future 63.54; Gold 553.55
| Energy 1.45%| Utilities 0.65%| ConsDisc 0.33%| Financials 0.33%| Materials
0.21%| Telecom 0.2%| Industrials 0.19%| ConsStaples 0.09%| Healthcare 0%|
Technology -0.85%
- General Motors 2005 Loss Widens by $2 Billion on Expenses; Filing Delayed
- Industrial Production in U.S. Probably Rose in February, Economists Say
- Dollar Heads for Weekly Loss as Traders Reduce Bets on Fed Rate Increases
- American International Group (-2.44% after hours) reported Q4 (Dec) earnings
of $0.17 per share, $0.14 worse than the Reuters Estimates consensus of $0.31.
Revenues rose 59.4% year/year to $27.4 bln vs the $22.9 bln consensus.
** ASIAN MARKETS **
Nikkei 1.51%; Kospi 0.38%; HSI 0.41%; Taiwan 0.36%; China -0.26%; India 0.51%;
Thailand -0.22%; Australia -0.08%
- China’s Grace Semiconductor Seeks Debt Repayment Delay After Posting Loss
- Indonesia’s Bumi Sells Coal Mines for $3.2 Billion to Fund Oil Production
- Sanyo, Quanta Plan to Form Flat-Panel Television Venture to Reduce Costs
- Asian Stocks Set for First Weekly Rise in Three; Japan’s Nomura Advances
- China Air Plans to Simplify Fleet as 2005 Profit Slumps to Seven-Year Low
- Korea Exchange Debt Rating Outlook Raised by S&P as Asset Quality Improves
- Daewoo Securities, Korea Brokers’ Shares May Gain as Services Sales Rise
** EUROPEAN MARKETS **
S&P future -0.05%; Bund future 0.03%; Crude future 63.54; €/$ 1.2156; Gold
553.55
- L’Oreal Agrees to Buy Body Shop for $1.14 Billion to Add Natural Cosmetics
- Legal & General Full-Year Net Doubles on Sales of Pensions, Investments
- Crude Oil Is Near Two-Week High as U.S., Iraqi Forces Start Air Assault
- Tchenguiz May Plan Sale of 10 Hilton Hotels for $878 Million, FT Reports
- Minara Says Nickel Demand Will Grow by 5 Percent on Consumption in Asia
- Arcelor said most European shareholders aren’t backing a hostile $23.2 billion
takeover bid by Mittal Steel Co.
- Corus Group Plc wants to team up with a company in a developing country to
lower production costs, Handelsblatt said, citing an interview with
Chief Executive Officer Philippe Varin.
- Schering was granted FDA approval for its YAZ drug, which will be available in
the US in April.
- Vodafone Group is close to reaching an agreement over the 9bln sale of its
Japanese unit to Softbank (FT).
- Body Shop will be acquired by L’Oreal for about GBP 652m or 300p per share.
- Legal & General Group Plc, the worst performing U.K. life insurance stock in
the past year, said profit more than doubled in 2005 on increased sales of
pensions and investment products. Net income climbed to 944 million pounds
($1.66 billion), or 13.95 pence a share, from 463 million pounds, or 6.87 pence
a share, a year earlier.
*TELEFONICA OFFERS TO BUY REST OF MOVILES FOR EU3.47 BLN
Thursday, March 16th, 2006** HOCHTIEF NUMBERS OUT: SHARES GAIN ON OUTLOOK **
Thursday, March 16th, 2006- Hochtief AG, Germany’s biggest builder, said full-year profit gained 53
percent after it expanded into maintenance of schools and offices and sold a
stake in its airports operation. Construction demand was led by projects in
Australia and Eastern Europe. Net income rose to 62.8 million euros, or 99 cents
a share, from 41.2 million euro, or 65 cents, a year earlier. Sales advanced 14
percent to 13.7 billion euros.Hochtief expects 2006 profit higher and sales
between 13-14 billion.