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’Snap news
Breaking pre-market news on Friday,
- Total says Q3 profits up 13 per cent – statement.
- WPP cuts full-year outlook, says margins to improve – statement.
- Erste Bank to close out CDS portfolio within days – statement.
Snap news
Breaking pre-market news on Friday,
- BSkyB says will launch £750m buyback, announces 20 per cent dividend hike – statement.
- Vodafone to pay special dividend of £2.0bn from Verizon Wireless – statement.
It’s all about Russian Arctic energy
It looks like 2011 really is becoming the year of Russian strategic energy partnership deals.
The latest to join the ever-growing Arctic-focused club is French oil major Total. The firm announced on Wednesday that it will pay $4bn for a stake in Russia’s top independent gas company Novatek,
Snap news
Breaking pre-market news on Thursday,
- Secretary of State for Culture, Olympics, Media and Sport says he intends to approve News Corp bid for BSkyB — statement.
- Glencore announces 39% rise in full-year net income before exceptionals – statement.
Snap news
Breaking pre-market news on Friday,
- Uralkali confirms talks over reverse takeover by Silvinit — statement.
- Draka ‘remains concerned’ over financing of Xinmao offer; due diligence close to completion — statement.
BP – a takeover target? Part II.
BP’s stock continued to take a battering late in London trading on Tuesday, after its engineers failed to top-kill the Deepwater Horizon well leak — as the chart shows:
By the close in London, BP’s shares had fallen 13.1 per cent.
Total refinery strike down *alert*
Here’s a story that’s currently topping the minds of most energy traders in Europe, via Bloomberg:
Feb. 22 (Bloomberg) — Total SA unions called for a refinery strike to spread to all French plants and said fuel shortages could be imminent.
Snap news
Breaking pre-market news on Friday,
- Hershey said to be accelerating efforts to prepare Cadbury offer – Bloomberg.
- Man Group funds under management suffer $1.2bn negative investment movement in Q4 – statement.
Santander revives Cepsa stake talks
Santander has revived talks to sell its 32% stake in oil group Cepsa in what could lead to the divestment of the Spanish bank’s last remaining equity holding of importance. The bank, the eurozone’s biggest by market cap,
Total’s Nexen plan
The Times was reporting on Wednesday afternoon that French oil group Total has decided against bidding for Nexen, the Canadian oil company. The decision follows a meeting of Total’s board in Paris yesterday,
Total set to consider offer for Nexen
The board of Total is meeting to consider an offer of up to C$19.7bn for Nexen, the Canadian oil company, FT Alphaville has learnt.
It is understood the French oil company is prepared to offer up to C$38 a share for Nexen,
Soothing words as China’s fund buys into Total
No so much FILTH, as failed in Washington, try Paris.
China’s attempts to get a stake in energy related assets (or indeed any other assets) in the US, have generally been met with dismay by policymakers and an knee-jerk outbreak of economic patriotism.
China buys 1.6% stake in Total
The body that manages the bulk of China’s $1,650bn in forex reserves has bought a 1.6% stake in France’s Total, in a sign of its aggressive investment strategy. China’s State Administration of Foreign Exchange,
French companies hunt for Mideast nuclear deals
Three French energy companies are jointly bidding for the right to build a pair of nuclear power reactors in the United Arab Emirates, in France’s latest pitch to export its nuclear technology to countries throughout the Middle East and North Africa,
US funds criticise Shell for Iran activities
Royal Dutch Shell has been criticised by a group of US pension funds over its activities in Iran, home to the world’s second-largest gas reserves. In a letter seen by the FT, a group of the largest US public pension funds,