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Jan 6, 2014

ADVFN III Evening Euro Markets Bulletin January 06, 2014.


ADVFN IIIEvening Euro Markets Bulletin
Daily world financial newsMonday, 06 January 2014

London Market Report
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FTSE 100EuronextDax perfCAC 40
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London close: Markets flat after choppy session, services PMIs weakens
- Miners limit gains after weak economic data
- Services PMIs from China, UK, Eurozone and US weaken
- RSA rises, UBS says takeover and break-up still possible
- Retailers in focus ahead of updates

techMARK 2,792.25 +0.13%
FTSE 100 6,730.73 0.00%
FTSE 250 16,049.30 +0.18%

UK markets ended flat on Monday after a choppy session amid an influx of economic data which showed that service-sector growth had slowed across the globe during December.

The FTSE 100, which briefly pushed into positive territory in afternoon trade, finished just 0.06 points higher at 6,730.73 after paring gains before the close of trade.

"The party season is well and truly over, and City trading desks are back to full capacity," said Market Analyst Alastair McCaig from IG following a quiet festive season in terms of company news and economic data.

He said that "traders are looking to keep their powder dry" ahead of a busy week that will see trading updates from a number of UK blue-chip stocks, along with central-bank meetings in the UK and Europe and the all-important US jobs report.

Services PMIs point to slowdown

Purchasing managers' indices (PMIs) from across the globe today showed that while activity in services sectors continued to expand in December, growth had eased on the previous month. This followed data last week which indicated a weakening in manufacturing growth in China, the US and UK in December.

There was a surprise slowdown in growth in the UK services sector in December with the PMI falling from 60 to 58.8, below the 60.3 consensus forecast.

The final estimate of the Eurozone services PMI was confirmed at 51 in December, down from 51.2 in November, with an ongoing contraction in France's services sector weighing on growth.

Figures released overnight saw the China services PMI survey decline from 52.5 to 50.9, while the US ISM services index unexpectedly fell from 53.9 to 53 (forecast: 54.7).

RSA gains after UBS comments, miners fall

RSA Insurance was a high riser after UBS raised its target for the stock and added it to its 'Alpha Preferences Most Preferred List', saying: "While there are significant uncertainties, we think that the balance of risks is to the upside." Meanwhile, the bank also said that a takeover and break-up of RSA still "remains a possibility", following recent market chatter.

Leading the downside were mining stocks despite a rise in metal prices today as investors reacted to the worsening economic figures out from top metals consumer China.

FresnilloAntofagastaRandgold Resources and Rio Tinto all suffered heavy losses in afternoon trade. Gold miner Centamin, however, bucked the trend after beating analysts' estimates with its fourth-quarter production results.

Retailers were under pressure ahead of trading updates from the likes of Marks & SpencerTesco andSainsbury later this week. The festive reporting season has so far been a mixed bag, with a profit warning from Debenhams contrasting with a stellar update from Next on Friday.

M&S was in the red today on speculation that it is a "likely candidate to suffer from the highly promotional and competitive clothing market", according to Equity Analyst Amisha Chohan from Sanlam Securities. Meanwhile, Sainsbury declined after rival chain Asda reported strong Christmas trading in both store and online.

Petrofac rose after Deutsche Bank lifted the stock to 'buy', while oilfield services peer Wood Group was dampened after the bank cut its rating to 'hold'.



FTSE 100 - RisersRSA Insurance Group (RSA) 97.90p +6.24%
Hargreaves Lansdown (HL.) 1,491.00p +3.47%
Persimmon (PSN) 1,290.00p +2.46%
easyJet (EZJ) 1,597.00p +2.04%
Ashtead Group (AHT) 790.00p +1.74%
Barclays (BARC) 277.50p +1.70%
Coca-Cola HBC AG (CDI) (CCH) 1,754.00p +1.68%
Aggreko (AGK) 1,733.00p +1.64%
International Consolidated Airlines Group SA (CDI) (IAG) 414.00p +1.52%
ITV (ITV) 197.70p +1.49%

FTSE 100 - FallersFresnillo (FRES) 735.50p -4.67%
Antofagasta (ANTO) 787.00p -4.14%
Randgold Resources Ltd. (RRS) 3,786.00p -3.52%
Rio Tinto (RIO) 3,266.00p -3.09%
G4S (GFS) 254.70p -2.11%
Anglo American (AAL) 1,275.00p -1.70%
Sainsbury (J) (SBRY) 367.80p -1.66%
BHP Billiton (BLT) 1,828.50p -1.56%
WPP (WPP) 1,361.00p -1.52%
Royal Mail (RMG) 572.00p -1.38%

FTSE 250 - RisersDunelm Group (DNLM) 979.00p +4.48%
Restaurant Group (RTN) 612.50p +3.73%
Diploma (DPLM) 723.00p +3.29%
Centamin (DI) (CEY) 46.55p +2.94%
Entertainment One Limited (ETO) 271.00p +2.85%
Barratt Developments (BDEV) 370.90p +2.83%
Telecom Plus (TEP) 1,797.00p +2.69%
Pace (PIC) 320.30p +2.66%
Halfords Group (HFD) 457.40p +2.53%
UDG Healthcare Public Limited Company (UDG) 335.00p +2.45%

FTSE 250 - FallersPolymetal International (POLY) 564.50p -4.48%
Kazakhmys (KAZ) 201.30p -4.05%
Wood Group (John) (WG.) 652.00p -3.76%
NMC Health (NMC) 436.50p -2.98%
Imagination Technologies Group (IMG) 179.60p -2.92%
International Personal Finance (IPF) 520.00p -2.44%
Petra Diamonds Ltd.(DI) (PDL) 119.00p -2.14%
KCOM Group (KCOM) 96.65p -2.13%
Micro Focus International (MCRO) 765.00p -1.92%
Vedanta Resources (VED) 889.50p -1.77%


Europe Market Report
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FTSE 100EuronextDax perfCAC 40
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Europe close: Stocks mixed after Eurozone, US services data
- Eurozone service activity and investor confidence grows
- US services activity slows
- Yellen to be confirmed as Fed Chair
- German inflation rises in line with forecasts

FTSE 100: 0.00%
DAX: -0.08%
CAC 40: -0.47%
FTSE MIB: 0.63%
IBEX 35: 0.92%
Stoxx 600: -0.20%

European stocks were little changed as Eurozone service activity grew in line with expectations while US services weakened.

The purchasing managers' index (PMI) for Eurozone services came in at 51 in December, in line with expectations and unchanged from the previous month. A reading above 50 signals expansion.

Also in the Eurozone, investor confidence improved with the Sentix index rising to 11 from 8 in December, beating the 9.5 forecast.

In the US, the Institute for Supply Management's non-manufacturing PMI for December fell from 53.9 to 53, showing that activity growth eased last month. Analysts had expected the PMI to rise to 54.7.

Separately, data showed that factory orders in the US increased 1.8% in November compared with a revised 0.5% fall in October and ahead of the 1.7% gain expected.

US policymakers are turning to economic data to gauge whether the world's biggest economy is ready for a further reduction to monetary stimulus after the Federal Reserve last month announced it would cut monthly bond purchases to $75bn from $85bn.

The US Senate was expected to confirm Janet Yellen as the next Chairman of the Fed later today, succeeding Ben Bernanke who steps down at the end of the month.

In the UK, the services PMI dropped to 58.8 in December from 60 in November. Economists had expected a reading of 60.3.

In China, HSBC services PMI for December declined to 50.9 from 52.5 in November, which could fuel fears of a slowdown in the world's second largest economy.

German inflation, PMIs

German inflation rose by 1.4% in December from 1.3% in the prior month, in line with forecasts.

PMI services in Europe's largest economy fell to 53.5 in December from 54 in November, missing expectations for an unchanged reading.

The country's chancellor, Angela Merkel, was forced to cancel her meetings for the next three weeks after breaking her pelvis in a skiing accident in Switzerland.

Ziggo, RSA

Ziggo's shares jumped following reports Liberty Global Plc is preparing an acquisition of the Dutch broadband provider.

RSA Insurance Group advanced after a report said the insurer's Irish unit won't require further capital injections.

Remy Cointreau retreated as Natixis lowered its rating on the producer of Remy Martin cognac to 'neutral' from 'buy' after Frederic Pflanz resigned as Chief Executive Officer last week.

Sanofi slumped after JPMorgan Chase & Co. lowered its recommendation on the drug-maker to 'neutral' from 'overweight', citing a possible weak earnings outlook in 2014.

Precious metal miners Randgold Resources and Fresnillo were trading firmly lower this morning as gold and silver prices weakened.

Commerzbank rallied after Euro am Sonntag reported that the lender plans to expand its wealth-management unit.

Centamin rose after its full-year production exceeded its forecast.
The euro was up 0.35% to $1.3637.

Brent crude futures gained $0.112 t0 107.010 per barrel, according to the ICE, amidst continuing media coverage of recently increased tensions in the Middle East, and Iraq in particular.


US Market Report
US open: Stocks mixed as ISM services index unexpectedly falls
- ISM services index eases in December
- Factory orders beat expectations in November
- Yellen to be confirmed as Fed Chair
- T-Mobile in 3.3bn-dollar spectrum deal with VZW

Dow Jones: 0.03%
Nasdaq: -0.34%
S&P 500: -0.01%

US markets opened flat to slightly lower on Monday morning in New York as investors geared up for a busy week, with figures released today showing a slowdown in service-sector growth across the globe during December.

"Trading volumes should pick up significantly this week, as traders return to their desks following the festive period and the number of potential catalysts also rises substantially," said Market Analyst Craig Erlam from Alpari.

While US service-sector data and factory orders were in focus today, the minutes of the latest Federal Open Market Committee meeting and the all-important jobs report due out later on in the week are likely to grab the most attention.

"This week should go a long way to telling us whether the Fed made the right decision last month in deciding to reduce the pace of its asset purchases, or whether it should have waited for more proof that the recovery is in fact sustainable," Erlam said.

The US Senate is also anticipated to shortly confirm Janet Yellen as Fed Chair to succeed Ben Bernanke who steps down at the end of the month. She would take over on February 1st.

Acting as a backdrop, the Financial Times wrote today on how US shares - when measured by the cyclically-adjusted price-to-earnings (Cape) multiple - are overpriced. The so-called Shiller Cape for the US stockmarket now stands at 25, almost exactly where it was standing at its last peak, in 2007.

Economic data in focus

The Institute for Supply Management's US non-manufacturing purchasing managers' index (PMI) for December unexpectedly fell from 53.9 to 53, showing that activity growth eased last month. Analysts had expected the PMI to rise to 54.7.

This follows a raft of service-sector PMIs released earlier today which showed that growth had also slowed slightly last month in China, the Eurozone and the UK.

Separately, data showed that factory orders in the US rose 1.8% in November compared with a revised 0.5% fall in October and ahead of the 1.7% gain expected.

T-Mobile to buy spectrum from Verizon

T-Mobile's shares gained after the US wireless carrier agreed to buy spectrum licences from Verizon Wireless for about $2.4bn, along with the transfer of spectrum worth $950m. "This is a great opportunity to secure low-band spectrum in many of the top markets in America," said T-Mobile Chief Exectuvie John Legere.

Intel fell ahead of a speech by its Chief Executive Officer Brian Krzanich who is set to announce the chipmaker's latest strategy at the International Consumer Electronics Show today.

General Electric edged lower after saying it will buy some assets from Thermo Scientific for about $1.06bn to grow its life sciences division.

Solar power firm SolarCity jumped early on after Goldman Sachs added the stock to its 'conviction buy' list, while First Solar fell after the bank downgraded it to 'sell'.


Broker Tips
Broker tips: RSA Insurance, Petrofac, Centamin
RSA Insurance was making gains on Monday morning after UBS raised its target on the stock by 13 per cent, saying that the firm's struggles in Ireland could be used as a 'catalyst for change'.

Meanwhile, the bank also said that a takeover and break-up of RSA still "remains a possibility", following recent market chatter.

Analyst James Shuck reiterated his 'buy' rating on RSA, as he upped his target from 100p to 113p. The stock was also added to UBS' 'Alpha Preferences Most Preferred List'.

Deutsche Bank has lifted its recommendation for oilfield services group Petrofac from 'hold' to 'buy', saying that the stock's price at the moment is overly discounting risks.

"Sentiment [...] has arguably bottomed and with a return to good growth likely to become more visible in 2014, trading on 8.5 times estimated fiscal year 2015 earnings, we upgrade to 'buy'," said Research Analyst Sebastian Yoshida.

Canaccord Genuity has labelled Egypt-focused gold miner Centamin as a 'speculative buy' after fourth-quarter production results smashed expectations on Monday.

"The results are positive and substantially better than we expected as we had based our forecast on the company's guidance of lower production in Q4/13 versus the average in Q1-Q3 due to the Stage 4 commissioning," said analysts Dmitry Kalachev and Peter Mallin-Jones.

MarketWatch | European Markets at Close Report January 06, 2014: European stock markets close lower.


By Saabira Chaudhuri and Tommy Stubbington
European markets closed mostly lower Monday as investors digested economic data that showed accelerating growth in Spain but continued weakness in France, the euro zone’s second-largest member.

The euro-zone services purchasing managers index for December came in at 51, in line with previous estimates and indicating a modest expansion. The number masked considerable variation between countries.


Five simple keys to economic recovery in 2014
Economic forecasters are counting on 2014 to be a breakout year. But whether the economy finally moves past its sluggish growth will rest on several forces playing out differently than they have since the recovery began. Sudeep Reddy explains. Photo: Getty Images


Spain’s services sector recorded its fastest expansion since mid-2007, before the onset of the global financial crisis that helped burst the country’s property bubble, which in turn sent its unemployment rate soaring as its economy fell into a long contraction. That helped the IBEX 35 index XX:IBEX +0.92% climb nearly 1%.
Stocks in France FR:PX1 -0.47%  were down 0.5% after the nation’s composite PMI hit a seven-month low and indicated that the economy may have contracted for a second straight quarter.
“In the manufacturing and services sectors, France’s performance is the weakest of the euro-area countries,” said analysts at Barclays Research.
Barclays said that in the services sector, Spain and Ireland were the month’s best performers “thanks to buoyant forward-looking components.” Ireland’s ISEQ closed up 0.2%.
Overall, the Stoxx Europe 600 XX:SXXP -0.20%  closed down 0.2%. Germany’s DAXDX:DAX -0.08%  was off 0.08%, while the U.K.’s FTSE 100 UK:UKX +0.00%  closed flat after U.K. service activity grew strongly in December but slowed slightly from the previous month.
In the U.S., blue chip indexes edged lower in midmorning trading as investors digested data showing the services sector continued to expand, but at a slower rate than expected.
The Institute for Supply Management’s nonmanufacturing purchasing managers index for December slipped to 53 from 53.9 in November, missing expectations of a rise to 54.5. Meanwhile, factory orders for November increased 1.8% on the month, above forecasts for a 1.5% rise.
In currency markets, the Turkish lira sank to a record low against the dollar as investors saw no sign of measures to halt the currency’s recent slide.
The Turkish currency has come under heavy pressure as a probe into corruption moved closer to the heart of the country’s ruling party. Emerging-market currencies widely have been sold following the reduction of U.S. monetary stimulus announced last month.
The dollar climbed to an all-time high of 2.1965 Turkish lira before falling to 2.176 lira shortly before European markets closed.
“Investors have realized that without a policy response to the slide in the lira there’s no real reason to [buy]. The central bank doesn’t seem to be willing to sell more reserves to halt the move, and it’s hard to see the political situation dying down before the March elections,” said Bartosz Pawlowski, global head of emerging-market strategy at BNP Paribas.


Why would Zynga take bitcoin?
Zynga announced it would accepted in-game payments with bitcoin, sending the bitcoin price up. Michael Casey discusses what Zynga’s move means for the fledgling currency. Photo: Getty 
Images.
There were more modest signs of weakness in other emerging-market currencies. The dollar hit a 41/2-year high of 10.737 South African rand before slipping back.
The euro EURUSD +0.39%  and sterlingGBPUSD +0.09%  both notched gains against the dollar.
In commodities markets, spot gold gained 0.2% to trade at $1241.2 an ounce, while Brent crude UK:LCOG4 +0.09%  was 0.3% higher at $107.20 a barrel.
In corporate news, RSA Insurance GroupUK:RSA +6.24%  climbed sharply after UBS added the insurer to its “Most Preferred” list of companies.
Shares in Marks and Spencer Group UK:MKS -0.83%  fell after Citigroup cut its profit forecast ahead of the U.K. retailer’s trading update later in the week. 
More must-reads from MarketWatch:

Mixed Data Economic Indicator: ESA | Manufacturers’ Shipments, Inventories and Orders (November 2013).pdf

Economics and Statistics Administration Logo

November 2013 new orders for manufactured goods increased 1.8 percent, to
$497.9 billion.  Shipments rose 1.0 percent, to $494.6 billion.  Unfilled
orders increased 1.0 percent, to $1,058.5 billion.  And inventories were
virtually unchanged, at $633.4 billion.

CNBC | European Markets at Close Report January 06, 2014: Europe shares close lower after mixed US data.



European equities closed lower on Monday - despite a strong performance from Spanish stocks and positive data from the euro zone - after a mixed bag of U.S. economic data put investors in a cautious mode ahead of the jobs report at the end of the week.
 NamePrice Change%ChangeVolume
FTSEFTSE 100 Index6730.73
 
0.060%510076112
DAXDAX Index9428.00
 
-7.15-0.08%53653693
CAC 40CAC 40 Index4227.54
 
-20.11-0.47%68709752
IBEX 35IBEX 35 Idx9888.50
 
90.500.92%188619591
The FTSEurofirst 300 Index was slightly lower by around 0.2 percent, despite data showing services and manufacturing activity in the euro zone expanded in December.
Euro zone composite purchasing managers' index (PMI) data showed that activity in the sectors rose to 52.1 in December, up from 51.7 in the previous month. A reading above the 50-point mark indicates expansion.
German final composite PMI fell slightly in December, to 55.0 from 55.4 in November, although the numbers remain firmly in expansion territory. The same cannot be said for France, however, whose negative trend accelerated in December with the final composite PMI falling to 47.3, from 48.0 in November.
The periphery also showed a diverging picture. While Italy's all-sector output fell to a two-month low, Spain continued on an upward trajectory, recording a 77-month high in all-sector output in December, Markit said. The Spanish IBEX was higher by around 0.8 percent.
To read full report click: www.cnbc.com/id/101311011

RTTNews Morning Market Briefing January 06, 2013.

Commentary
After starting off the New Year on a largely negative note, stocks may move back to the upside in early trading on Monday. The major index futures are pointing to a higher open for the markets, with the Dow futures up by 32 points. (Jan 6, 2014) Full Article
Economic News
China's service sector growth slowed in December to the weakest level since August 2011 as new work inflow weakened, results of a survey by Markit Economics and HSBC showed Monday. (Jan 6, 2014) Full Article
U.K.'s service sector growth unexpectedly eased in December to the lowest level in six months amid weaker increase in new orders, but the rate of expansion remained robust, suggesting that economic growth has likely accelerated in the fourth quarter. (Jan 6, 2014) Full Article 
The Swiss National Bank on Monday estimated that it is set to post a CHF 9 billion loss for the fiscal year 2013, hurt by a steep fall in the value of its gold holdings. Consequently, the central bank said it will not be able to pay dividends to shareholders, the government and the cantons. (Jan 6, 2014) Full Article
Broker Ratings Changes
FBR Capital Markets Lifts Wabash National Corp (WNC) To Outperform From Market Perform With $14 up from $11 Price Target
(Jan 6, 2014)
Todays WS Events
Advanced Micro Devices Will Host A Conf At Consumer Electronics Show At 7:00 PM
Advanced Micro Devices Inc.(AMD) will host a news conference at the 2014 International Consumer Electronics Show in Las Vegas. The event is scheduled to begin at 7:00 PM ET January 6, 2014. To access the live webcast, log on at www.amd.com/ces (Jan 6, 2014)  
AT&T To Present At Citi Internet Media Conference; Webcast At 3:45 PM ET
AT&T Inc. (T) will present at the Citi 2014 Internet, Media & Telecommunications Conference in Las Vegas. The event is scheduled to begin at 3:45 PM ET, January 6, 2014. To access the live webcast, log on at http://www.att.com/gen/landing-pages?pid=5718 (Jan 6, 2014)  
Liberty Global To Present At Citi Global Conference ; Webcast At 7:30 PM ET
Liberty Global Inc.(LBTYA) will present at the Citi 2014 Global Internet, Media and Telecommunications Conference in Bellagio Hotel, Las Vegas, Nevada. The event is scheduled to begin at 7:30 PM ET January 6, 2014. To access the live webcast, log on at www.libertyglobal.com (Jan 6, 2014)  
Meredith To Present At Citi 2014 Global Internet Conference; Webcast At 6:00 PM
Meredith Corp. (MDP) will present at the Citi 2014 Global Internet, Media and Telecommunications Conference at the Bellagio in Las Vegas, Nevada. The event is scheduled to begin at 6:00 PM ET on January 6, 2014. To access the webcast, log on at http://ir.meredith.com/eventdetail.cfm?EventID=138627 (Jan 6, 2014) 
Sonic Q1 14 Earnings Conference Call At 5:00 PM ET

Sonic Corp. (SONC) will host a conference call at 5:00 PM ET on January 6, 2014, to discuss its Q1 14 earnings result. To access the iive webcast, log on at www.sonicdrivein.com To participate in the call, dial (888) 601-3862 or (913) 312-6664 (International). A replay of the call by dialing (877) 870-5176 or (858) 384-5517 (Internationa); conference ID is 8332005. (Jan 6, 2014) 

ZACKS Profit From The Pros Januray 06, 2014: Uncle Sam Needs to Wait.

ZACKS
Uncle Sam Needs to Wait

What we have here is a classic consolidation period for stocks. After the market surged to a new high to end 2013, it now needs time to digest those gains. As such profits are being taken from some of the recent darlings and rotated to new positions.

A lot of this activity is driven by a desire to take profits on big winners, yet delay the tax consequences. Meaning profits on a stock sold on December 31st are due to Uncle Sam by April 2014. Whereas just waiting another couple days for the calendar to flip to the new year allows an investor to keep that extra money around until April 2015.

These are great periods to get into some of the best growth stocks at discounted prices. So put together a wish list of top stocks you would love to buy after a 5%+ haircut then patiently wait for it to avail itself. Just don’t get too cute hoping they will go lower only for the opportunity to slip through your fingers.

Featured Commentaries:

•  3 Best Bargain Stocks for 2014

•  2014 Stock Market Outlook

•  Buying Puts to Protect Profits & Hedge Risk

•  Is Another Great Year Ahead for Japan ETFs?
Best,
Steve Reitmeister (aka Reity...pronounced "Righty")
Executive Vice President
Zacks Investment Research

Financial and Forex Info | Kitco Latest Gold News January 06, 2014.




 Latest Gold NewsNY Time
Gold Near Steady, Pokes To 3-Week High Overnight - Kitco News, Jan 6 2014 8:22AM
Barclays: 2013 Gold ETP Outflows Hit 874 Metric tons - Kitco News, Jan 6 2014 8:17AM
Senate poised to confirm Janet Yellen as Fed chair - Reuters, Jan 6 2014 8:09AM
Kitco News 2014 Outlook Series - Kitco News, Jan 3 2014 11:58AM
Gold Prices Biased To The Upside, But Somewhat Limited - Ilczyszyn - Kitco News, Jan 3 2014 12:49PM
Mines on high alert as strike threatened - Business Day Live (South Africa), Jan 6 2014 3:14AM
Euro hovers near $1.36; dollar down vs. yen - MarketWatch, Jan 6 2014 8:31AM
Central Banks Split on Stimulus in 2014 as Fed Tapers - Bloomberg, Jan 6 2014 7:08AM
Gold miner Centamin rises 4% as production beats forecasts - Guardian Web, Jan 6 2014 7:30AM
Treasuries Rise as Uneven Recovery Attracts Buyers After Selloff - Bloomberg, Jan 6 2014 7:10AM
Stocks Drop as China Shares Sink on Growth as Gas Gains - Bloomberg, Jan 6 2014 7:10AM
Index Rebalancing Could Continue To Support Gold - Kitco News, Jan 3 2014 2:02PM
Higher Prices Expected For Gold Next Week - Kitco News, Jan 3 2014 12:15PM
TDS: Index Rebalancing Could Give Gold, Silver Short-Term Boost - Kitco News, Jan 3 2014 2:09PM

Reuters | Deals Today January 06, 2014: T-Mobile to buy some spectrum licenses from Verizon for $2.4 billion



T-Mobile to buy some spectrum licenses from Verizon for $2.4 billion
(Reuters) - T-Mobile US Inc said it would buy some spectrum licenses from Verizon Wireless for about $2.4 billion in cash.
Men's Wearhouse launches hostile bid for Jos. A. Bank
(Reuters) - Apparel retailer Men's Wearhouse Inc mounted a hostile bid for rival Jos. A. Bank Clothiers Inc with a raised offer, days after the smaller rival upped its buyout defenses.
Spain's Telefonica denies readying joint bid for TIM Brasil
MADRID/MILAN (Reuters) - Spain's Telefonica denied on Monday that it was involved in looking at making a joint offer for Telecom Italia's Brazilian wireless network operator TIM Brasil.
Thermo Fisher sells cell culture, other businesses to GE
(Reuters) - Scientific and laboratory equipment maker Thermo Fisher Scientific Inc said it would sell its cell culture, gene modulation and magnetic beads businesses to GE Healthcare, a unit of General Electric Co , for about $1.06 billion.
Helicopter fleet operator CHC plans $529 million IPO
(Reuters) - CHC Group Ltd , the world's largest commercial helicopter services provider, said it expects to raise up to $529 million in an initial public offering.
Liberty in final talks to buy Dutch cable group Ziggo: Bloomberg
BRUSSELS (Reuters) - U.S.-listed cable telecoms group Liberty Global is finalizing talks with Dutch operator Ziggo about a takeover offer, according to a media report.
Trading in Hong Kong's Wing Hang Bank shares suspended
HONG KONG (Reuters) - Trading in Hong Kong's Wing Hang Bank Ltd was halted on Monday, following reports that Singapore's Oversea-Chinese Banking Corp Ltd (OCBC) had started exclusive talks to buy the family-run lender in a deal that would value it at about $5.3 billion.
Harbinger knocks Dish's bid for LightSquared's spectrum
NEW YORK (Reuters) - Phil Falcone's Harbinger Capital Partners, which controls bankrupt satellite company LightSquared, has asked a judge to reject a takeover effort by Dish Network Corp, saying its $2.2 billion bid for a chunk of LightSquared's spectrum is a "Trojan horse".
Tel Aviv court upholds Ben-Moshe/Elsztain takeover of Israel's IDB
JERUSALEM (Reuters) - A Tel Aviv court on Sunday upheld an earlier decision approving the transfer of control in debt-ridden conglomerate IDB Holding Corp to Argentinian businessman Eduardo Elsztain and his Israeli partner Moti Ben-Moshe.
Liberty to buy out Sirius, create flexibility for Time Warner Cable deal
(Reuters) - Liberty Media Corp on Friday said it would offer to buy out the minority shareholders in satellite radio provider Sirius XM Holdings Inc, in a deal that could give cable mogul John Malone a freer hand in driving cable consolidation.