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RECENT U.S. OIL DEMAND UP 1.9 PCT FROM YEAR AGO
| U.S. oil demand as measured by
products supplied rose 1.9 pct in the four weeks ended March
six to 16.39 mln barrels per day from 16.08 mln in the same
period a year ago, the Energy Information Administration (EIA)
said.
In its weekly petroleum status report, the Energy
Department agency said distilla... | Corporate News |
(MONTREAL CITY, DISTRICT SAVINGS BANK) 1ST QTR
| Shr 33 cts vs 24 cts
Net 6.2 mln vs 4.9 mln
Loans not given
Deposits not given
Assets 3.8 billion vs not given
Note: full name Montreal City and District Savings Bank
Period ended January 31
| Corporate News |
FRANCO NEVADA SAYS STOCK RISE DUE TO DRILLING
| Franco Nevada Mining Corp Ltd said the
gain in its stock price today is related to deep drilling being
conducted by American Barrick Resources Corp at the Goldstrike
claims in the Carlin camp in northern Nevada.
Franco Nevada stock is up two at seven dlrs per share on
the Toronto Stock Exchange.
F... | Corporate News |
BUSINESSMAN HAS 8.9 PCT OF DEL E. WEBB <DWP.A>
| John Cotton, an Arizona businessman,
told the Securities and Exchange Commission he has acquired the
equivalent of 213,500 shares of Class A common shares in Del E.
Webb Investment Properties, or 8.9 pct of the total.
Cotton, president of Finalco Group Inc, a Paradise Valley,
Ariz., data processing equi... | Financial Reports |
STANDARD TRUSTCO SEES BETTER YEAR
| Standard Trustco said it expects earnings
in 1987 to increase at least 15 to 20 pct from the 9,140,000
dlrs, or 2.52 dlrs per share, recorded in 1986.
"Stable interest rates and a growing economy are expected to
provide favorable conditions for further growth in 1987,"
president Brian O'Malley told shar... | Financial Reports |
DIAGNOSTIC/RETRIEVAL SYSTEMS INC MAKES 53 MLN DLR BID FOR ROSPATCH CORP
|
DIAGNOSTIC/RETRIEVAL SYSTEMS INC MAKES 53 MLN DLR BID FOR ROSPATCH CORP
| Financial Reports |
ASTEC INDUSTRIES INC <ASTE> 4TH QTR DEC 31
| Shr loss nine cts vs profit 22 cts
Net loss 278,949 vs profit 346,368
Revs 11.9 mln vs 10.4 mln
Year
Shr profit 49 cts vs profit 49 cts
Net profit 1.2 mln vs profit 949,626
Revs 61.7 mln vs 52.7 mln
NOTE:1985 net includes loss of three cts or 49.1 mln dlrs
in 4th qtr and lo... | Financial Reports |
U.S. ECONOMIC DATA KEY TO DEBT FUTURES OUTLOOK
| U.S. economic data this week could be
the key in determining whether U.S. interest rate futures break
out of a 3-1/2 month trading range, financial analysts said.
Although market expectations are for February U.S. retail
sales Thursday and industrial production Friday to show healthy
gains, figures with... | Financial Reports |
MILLER TABAK HAS 91.8 PCT OF PENN TRAFFIC <PNF>
| <Miller Tabak Hirsch and Co> said it
has received an accepted 3,424,729 common shares of Penn
Traffic Co in response to its 31.60 dlr per share tender offer
that expired Friday, and together with the 380,728 shares it
already owned, it now has about 91.8 pct of Penn Traffic.
The company said Penn Tra... | Financial Reports |
BANK OF BRITISH COLUMBIA 1ST QTR JAN 31 NET
| Oper shr loss two cts vs profit three cts
Oper net profit 273,000 dlrs vs profit 1,710,000
YEAR - period ended October 31, 1986
Oper shr loss 23 cts vs profit 14 cts
Oper net loss 4,397,000 vs profit 7,527,000
Assets 2.67 billion vs 3.25 billion
Note: 1987 1st qtr net excludes extr... | Financial Reports |
RESTAURANT ASSOCIATES INC <RA> 4TH QTR JAN 3
| Shr 25 cts vs 36 cts
Net 1.4 mln vs 1.4 mln
Revs 56.9 mln vs 35.1 mln
Year
Shr 86 cts vs 75 cts
Net 4.7 mln vs 3.0 mln
REvs 201.4 mln vs 140.0 mln
NOTE:1985 4th qtr includes 99,000 loss from carryforward.
Shares restated to give effect to 1.4 to one stock split in the
for... | Market and Economy |
MICHIGAN GENERAL CORP <MGL> 4TH QTR
| Shr loss 1.02 dlrs vs 1.01 dlr
Net loss 18.1 mln vs 11.4 mln
Revs 96.0 mln vs 90.3 mln
Year
Shr loss 2.65 dlrs vs loss 3.06 dlrs
Net loss 39.3 mln vs 34.6 mln
Revs 386.0 mln vs 373.0 mln
NOTE:1986 4th qtr, year loss includes 14.4 mln dlrs, 4.6
mln dlrs respectively from dis... | Corporate News |
USX <X> PROVED OIL, GAS RESERVES FALL IN 1986
| USX Corp said proved reserves of oil
and natural gas liquids fell 28 pct to 802.8 mln barrels at the
end of 1986 from 1.12 billion barrels at year-end 1985.
The figures, in USX's just-released 1986 annual report,
indicate much of the drop resulted from the exclusion of 293.7
mln barrels of Libyan reserv... | Commodities and Trade |
BANK OF B.C. REVISES SHARE PAYOUT ESTIMATE
| Bank of British
Columbia said it revised its estimate of shareholder
distributions from last November's sale of most of the bank's
assets to HongKong Bank of Canada to between 65 cts and 1.15
dlrs a share from 55 cts to 1.20 dlrs a share.
The bank said the estimate could rise to between 1.30 dlrs
and ... | Commodities and Trade |
COFFEE QUOTA TALKS CONTINUE BUT NO AGREEMENT YET
| Coffee quota talks at the International
Coffee Organization council meeting here continued this
afternoon, but producers and consumers still had not reached
common ground on the key issue of how to estimate export
quotas, delegates said.
The 54 member contact group was examining a Colombian
proposal t... | Corporate News |
<KIENA GOLD MINES LTD> 4TH QTR NET
| Shr 17 cts vs 16 cts
Net 1,019,000 vs 985,000
Revs 7,997,000 vs 7,492,000
YEAR
Shr 1.18 dlrs vs 64 cts
Net 6,959,000 vs 3,778,000
Revs 36.5 mln vs 29.8 mln
| Corporate News |
ARGENTINE MEAT EXPORTS HIGHER IN JAN/FEB 1987
| Argentine meat exports during
Jan/Feb 1987 totalled 39,714 tonnes, against 36,594 tonnes
shipped in the same 1986 period, National Meat board said.
Shipments in tonnes with comparative figures for the 1986
period, in brackets, included: beef 26,945 (20,096), horse meat
3,257 (4,211) and beef offal 7,660... | Financial Reports |
KIENA PLANS TWO-FOR-ONE STOCK SPLIT
| <Kiena Gold Mines Ltd> said it planned
a two-for-one common stock split, pending shareholder approval
on April 7.
It said approval would require 66-2/3 pct of votes cast.
Kiena said 57 pct-owner Campbell Red Lake Mines Ltd <CRK> was
expected to vote in favor of the split.
| Commodities and Trade |
ROWE FURNITURE CORP <ROWE> SETS QTLY DIVIDEND
| Qtly div four cts vs four cts prior
Pay April 15
Record March 20
| Financial Reports |
U.S. HOUSE PANEL TAKES FIRST TRADE BILL VOTES
| House trade lawmakers took their
first votes on measures designed to toughen U.S. trade laws but
held over until tomorrow the most difficult votes on
controversial plans to protect American industries.
Meeting in closed session, the House Ways and Means Trade
Subcommittee failed to resolve one of the mo... | Financial Reports |
SOVIET MINISTER SAYS TRADE BOOST UP TO FRENCH
| Soviet first deputy prime minister
Vsevolod Murakhovsky said at the end of a brief visit here his
country wanted to boost joint business with France, but that a
reduction of France's trade deficit with the Soviet Union
depended on the French.
Murakhovsky, who is also chairman of the State
Agro-Industr... | Financial Reports |
VENEZUELA TO LEND OIL TO ECUADOR FOR EXPORT
| venezuela will supply ecuador with an
as yet undetermined amount of crude oil to help it meet export
commitments, seriously affected by last week's earthquake,
energy and mines minister arturo hernandez grisanti said.
He gave few details about the deal, but said a crude oil
loan agreement will be made b... | Commodities and Trade |
EAGLE CLOTHES INC <EGL> 2nD QTR JAN 31
| Shr profit 17 cts vs profit 14 cts
Net profit 1.3 mln vs profit 901,000
Revs 36.9 mln vs 36.2 mln
Six months
Shr profit 18 cts vs loss 11 cts
Net profit 1.4 mln vs loss 716,000
Revs 63.6 mln vs 57.7 mln
NOTE:1986 six months includes increase in provision for
doubtful accoun... | Corporate News |
BRITAIN CALLS ON JAPAN TO INCREASE IMPORTS
| Britain today called on Japan to
increase foreign imports or risk the rise of protectionism and
the harm it would bring to it and other trading nations.
British Trade and Industry Secretary Paul Channon said
Japan must heed a report issued by a Japanese government
advisory body in December calling for f... | Corporate News |
TAFT BROADCASTING REJECTS 145 DLR PER SHARE BUYOUT OFFER FROM THETA CORP
|
TAFT BROADCASTING REJECTS 145 DLR PER SHARE BUYOUT OFFER FROM THETA CORP
| Corporate News |
TAFT <TFB> REJECTS 145 DLR/SHR OFFER
| Taft Braodacasting Co said its board
of directors unanimously decided not to accept the pending
proposal of Theta Corp, an investor group led by Dudley Taft.
The decision was based on, among other things, the advise
of its financial advisors, goldman sachs and co, that the offer
of 145 dlrs per share wa... | Corporate News |
BRITISH MINISTER CRITICISES PROPOSED EC OILS TAX
| A British minister said that a proposed
European Community tax on vegetable oils and fats would raise
the price of fish and chips and he pledged the government would
fight against it.
Lord Belstead, a junior agriculture minister, told the
House of Lords the tax would raise the price of raw materials
u... | Commodities and Trade |
AUSTRALIAN UNEMPLOYMENT EASES IN FEBRUARY
| Australia's seasonally-adjusted
unemployment rate eased to 8.2 pct of the estimated workforce
in February from 8.3 pct in January, compared with 7.9 pct a
year earlier, the Statistics Bureau said.
The number of unemployed declined to 632,100 from 638,300
in January, against 594,500 in February 1986, it ... | Commodities and Trade |
TREASURY SECRETARY BAKER DECLINES COMMENT ON G-6
| U.S. Treasury Secretary James Baker
declined comment on the February 22 Paris accord between the
six major industrial nations under which they agreed to foster
exchange rate stability.
Asked by reporters after a speech before the National
Fitness Foundation banquet what, if any, currency intervention
... | Financial Reports |
ECUADOR TO ASK OPEC TO RAISE EXPORT QUOTA
| Ecuador will ask OPEC to raise its oil
export quota by 100,000 barrels per day to 310,000 to
compensate for lost output due to last week's earthquake,
deputy Energy Minister Fernando Santos Alvite said.
Santos Alvite, who arrived in Caracas last night to discuss
an aid plan for Ecuador, did not say when... | Commodities and Trade |
WASTE MANAGEMENT <WMX> VOTES SPLIT, UPS PAYOUT
| Waste Management Corp said its
board voted a two-for-one stock split payable April 21, record
March 30.
In other action, Waste Management directors approved an
increase in the quarterly dividend to 18 cts from 14 cts,
payable April three, record March 18.
| Commodities and Trade |
CHINA'S RAPESEED CROP DAMAGED BY STORMS
| The yield on 46,000 hectares (ha) of
rapeseed in central China will be cut by up to 70 pct by
hailstorms and tornadoes that swept across nearly 100,000 ha of
crops on March 6, the New China News Agency said today.
The storm, which lashed the Huai and Yangtze rivers and
eastern Anhui province, left two p... | Commodities and Trade |
CHINA CLOSES SECOND ROUND OF OFFSHORE OIL BIDS
| China has closed the second round of
bidding by foreign firms for offshore oil exploration rights,
the China Daily has reported.
It quoted a spokesman for the China National Offshore Oil
Corp (CNOOC) as saying China signed eight contracts with 15
foreign firms for blocks in the Pearl River mouth and sou... | Commodities and Trade |
AMC IMPOSES HIRING FREEZE DUE TO TAKEOVER BID
| American Motors Corp <AMO> management
has ordered a hiring freeze in view of Chrysler Corp's <C> 1.5
billion dlr takeover bid, a spokesman for AMC said.
Analysts said the merger is virtually certain to go ahead.
American Motors directors met for five hours Wednesday to
review the takeover prop... | Other |
FOREIGN INVESTMENT IN AUSTRALIA JUMPS IN LAST QTR
| The net inflow of foreign investment
into Australia jumped to 7.3 billion dlrs in the fourth quarter
of 1986 from 4.32 billion in the third quarter and 4.55 billion
a year earlier, the Statistics Bureau said.
The Bureau attributed the increase to a turnaround of 2.08
billion dlrs in official sector tran... | Financial Reports |
TAIWAN'S FIRST QUARTER MAIZE IMPORTS SEEN RISING
| Taiwan's maize import commitments are
expected to rise to 970,000 tonnes in the first four months of
1987 from 870,000 tonnes a year earlier, a spokesman for the
Joint Committee of Maize Importers told Reuters.
He said more than 75 pct of the imports come from the U.S.
And the rest from South Africa.
... | Corporate News |
TAIWAN FURTHER RELAXES FOREIGN GOODS IMPORT CURBS
| Taiwan said it would soon relax import
controls on some 400 foreign items, including stationery and
books, in a further effort to allow trading partners,
especially the U.S., Greater access to its markets.
Taiwan announced the easing of import curbs on some 600
farm and industrial products last month, a... | Commodities and Trade |
ECONOMIC SPOTLIGHT - MITSUBISHI HEAVY FIGHTS BACK
| International efforts to redirect Japan's
export-driven economy toward domestic consumption face heavy
going if the country's largest defence contractor and world's
biggest shipbuilder is anything to go by.
Mitsubishi Heavy Industries Ltd <MITH.T> (MHI), which began
making ships and iron goods for Ja... | Commodities and Trade |
POREX TECHNOLOGIES <PORX> SETS INITIAL DIVIDEND
| Porex Technologies Corp said its
board declared an initial annual dividend of 10 cts per share,
its first payout, payable March 26 to holders of record March
12.
| Commodities and Trade |
BANGLADESH PORT WORKERS END STRIKE
| Cargo handling resumed at
Bangladesh's Chittagong port today after 7,000 workers ended
their three day walk-out triggered by a pay dispute, port
officials said.
Loading and unloading of 14 ships stranded by the strike
started this morning and will be completed as quickly as
possible, they said.
... | Corporate News |
LEIGH-PEMBERTON OPPOSES TAKEOVER PROTECTION RULES
| The Bank of England does not favour the
introduction of rules to shield companies from hostile takeover
attempts, its governor, Robin Leigh-Pemberton, said.
Instead, merchant banks advising bidding companies must
show restraint and responsibility to avoid the excesses that
have marred recent takeovers, ... | Financial Reports |
TONEN SEKIYU AND EXXON UNIT STUDYING RESIN PROJECT
| <Tonen Sekiyukagaku KK> and <Exxon
Chemical Co>, a petrochemical division of Exxon Corp <XON>,
said they agreed to accelerate a study to set up an
equally-owned joint venture to make waterwhite resin in Japan.
Details of the venture, to be based on Exxon Chemical
technology, will be set later, ... | Other |
JAPANESE PURCHASE OF U.S. HIGH-TECH FIRM OPPOSED
| Commerce Secretary Malcolm Baldrige
has asked the White House to consider blocking the planned
Japanese acquisition of a major U.S. Computer and semiconductor
maker, U.S. Officials said yesterday.
The officials told reporters Baldrige had serious concerns
on national security grounds about the sale of S... | Financial Reports |
S.KOREA TO BUY MORE COTTON, ESPECIALLY U.S. COTTON
| South Korea plans to import about 387,000
tonnes of cotton this year compared to 225,000 tonnes in 1986,
trade ministry officials said.
More than three quarters of the total, some 290,000 tonnes,
will come from the United States. That will be a 93.7 pct
increase on 1986 when U.S. Imports totalled 150,00... | Market and Economy |
AWB SAYS AUSTRALIAN WHEAT SALES OVER 10 MLN TONNES
| The Australian Wheat Board's (AWB)
1986/87 export program is well advanced with over 10 mln tonnes
already sold, AWB general manager Ron Paice said.
"We are certainly within reach of our 15 mln tonne export
target for the year," he said in a statement.
He did not detail the commitments already made,... | Other |
NORTH BH SETS ONE-FOR-FIVE OFFER FOR NORGOLD FLOAT
| North Broken Hill Holdings Ltd
<NBHA.ME> (NBH) said it will offer one <Norgold Ltd> share for
every five NBH shares in the float of its newly created gold
offshoot.
The 20 cent par-value shares will be offered at 22 cents to
shareholders registered April 3, NBH said in a statement.
Norgold's... | Corporate News |
DAVIS WATER <DWWS> DECLARES STOCK DIVIDEND
| Davis Water and Waste
Industries Inc said its board declared a 33-1/3 pct stock
dividend, payable March 23 to holders of record March 12.
| Corporate News |
STRIKING BRAZIL SEAMEN THREATEN MASS RESIGNATION
| Striking seamen said they would
offer their collective resignation rather than end their
13-day-old national strike on management's terms.
The seamen said they were spurred to their decision after
marines occupied the ship Docemarte in Santos harbour Tuesday
night. They said seamen on the vessel were be... | Corporate News |
German net currency reserves rise 400 mln marks to 87.0 billion - Bundesbank
|
German net currency reserves rise 400 mln marks to 87.0 billion - Bundesbank
| Financial Reports |
INDONESIAN COFFEE PRODUCTION MAY FALL THIS YEAR
| Indonesia's coffee production in
1986/87 ending September 30 may fall slightly from last year's
level of 360,000 tonnes, Dharyono Kertosastro, chairman of the
Association of Indonesian Coffee Exporters told Reuters.
He said shade trees had been damaged by pests and this may
have affected the crop, thoug... | Other |
RENOUF SELLS 10.83 PCT NZI STAKE TO BRIERLEY
| <Renouf Corp Ltd> said it sold its
10.83 pct stake in <NZI Corp Ltd> to <Brierley Investments
Ltd>, (BIL), for 207.7 mln N.Z. Dlrs.
Renouf managing director Mike Cashin said in a statement it
had been Renouf's intention to build up a long-term strategic
position in NZI. "But it became clear to ... | Commodities and Trade |
BOLIDEN AB <BLDS ST> 1986 RESULTS
| Group loss after financial income and expenses 1.08
Billion vs loss 71 mln crowns
Sales - 12.38 billion crowns vs 6.16 billion.
No proposed dividend vs 10 crowns.
Note - The company this year consolidated wholesale and
investment conglomerate Ahlsell AB.
| Commodities and Trade |
BRITAIN TO MINT NEW "BRITANNIA" GOLD COIN
| Britain will from next autumn mint and
market a new bullion coin called the "Britannia" containing one
ounce of 24 carat gold, together with bullion coins of smaller
denominations, a Treasury official said.
The new investment coin, to be sold worldwide, will
fluctuate in price according to the internati... | Industrial and Sector News |
SAUDI BANKS FACE FURTHER LEAN PERIOD
| Saudi Arabia's 11 commercial banks are
reporting a further decline in profits for 1986 as increasing
provisions have to be set aside to cover the burden of non-
performing loans.
Bankers in the Saudi capital said the need to build
reserves for bad and doubtful debts may start to decline a
little this ... | Other |
GUINNESS CHALLENGES 5.2 MLN STG PAYMENT TO LAWYER
| Guinness Plc <GUIN.L> , the
brewing group, has challenged a 5.2 mln stg payment to a U.S.
Lawyer who says he organised its controversial takeover of
Scotch whisky maker <The Distillers Co Plc>.
But attorneys for lawyer Thomas Ward, a member of the
Guinness board, told a court yesterday in the Chan... | Other |
MEDCO CONTAINMENT <MCCS> SETS INITIAL PAYOUT
| Medco Containment Services
Inc said its board declared an initial annual dividend of 10
cts per share, its first payout, payable March 19 to holders of
record March 12.
| Corporate News |
INDONESIA PRESSING FOR COMPROMISE OVER COFFEE
| Indonesian coffee exporters are
preparing for a period of depressed prices while urging their
government to lobby for a resolution of the deadlocked issue of
export quotas, the chairman of the Association of Indonesian
Coffee Exporters (AICE) told Reuters.
Dharyono Kertosastro said in an interview that ... | Corporate News |
JAPANESE CORPORATE EARNINGS RECOVERY PREDICTED
| Japanese corporate earnings will rise 8.9
pct in fiscal 1987/88 for the first year-on-year increase in
three years, partly because of the yen's stable exchange rate,
the Nomura research institute said.
Sales of all industries are predicted to rise 1.9 pct in
the year, which starts April 1, the research ... | Commodities and Trade |
BOLIDEN SAYS RESULTS BURDENED BY LOSS WRITEOFF
| Swedish mining and metals group
Boliden AB <BLDS ST> forecast a return to profitability during
1987 after recording a 1.08 billion crown 1986 loss burdened by
a massive write-off.
The company, which consolidated the Swedish wholesale and
investment conglomerate <Ahlsell AB> this year, said the res... | Other |
TAIWAN BUYS 27,000 TONNES OF U.S. SOYBEANS
| The joint committee of Taiwan's soybean
importers awarded a contract to Richco Grain Ltd of New York to
supply a 27,000-tonne cargo of U.S. Soybeans, a committee
spokesman told Reuters.
The shipment, priced at 210.34 U.S. Dlrs per tonne c and f
Taiwan, is set for delivery between March 20 and April 5, h... | Market and Economy |
CHINA JANUARY WHEAT/SUGAR IMPORTS BELOW YEAR AGO
| China's wheat imports in January were
218,000 tonnes, down from 393,000 in January 1986, the China
Daily Business Weekly said, quoting customs figures.
It said imports of sugar were 25,165 tonnes, down from
54,000, but exports of rice rose to 71,144 tonnes from 20,000.
It gave no more details.
| Corporate News |
FRENCH 1986 CURRENT ACCOUNT SURPLUS REVISED
| The French 1986 current account balance
of payments surplus has been revised slightly upwards to 25.8
billion francs from the 25.4 billion franc figure announced
last month, the Finance Ministry said.
This compares with a 1.5 billion deficit in 1985, and while
it is the first surplus since 1979, is subs... | Market and Economy |
PITTSTON <PCO> AGREES TO ACQUIRE WTC <WAF>
| Pittston Co said it has
tentatively agreed to acquire WTC International N.V. in a
tax-free exchange of stock.
Pittston said it agreed to exchange 0.523 common share for
each of the about 8,612,000 WTC common shares outstanding.
Pittston said WTC's three principal shareholders, who own
62 pct of it... | Other |
MALAYSIA OPTIMISTIC OVER ECONOMIC OUTLOOK FOR 1987
| Malaysia's Central Bank, Bank
Negara, said the economic outlook for 1987 is good in view of a
marked improvement in commodity and oil prices in the later
months of last year.
It said in its latest quarterly review that real gross
domestic product averaged an annual growth of 1.1 pct over the
first nin... | Commodities and Trade |
ROWNTREE REPORTS PRETAX PROFIT AT 84 MLN STG
| Rowntree Mackintosh Plc <RWNT.L>
announced it made a pretax profit of 84 mln stg in the 53 weeks
ending January 3, 1987, compared with 79.3 mln stg in the
previous year.
Turnover was up to 1.29 billion stg from 1.2 billion. A
final dividend of 9.2p was proposed, after a final 8.2p last
year. Earnin... | Market and Economy |
RISE SEEN IN FRENCH RAPESEED, SOYBEAN SOWINGS
| France's Oilseed and Bean Cooperatives
Federation, FFCOP, said it expected French rapeseed sowings for
the 1987 harvest to rise by between 54.6 pct and 67.5 pct to
between 600,000 and 650,000 hectares from 388,000 planted last
year.
Its latest estimates also suggested a 66.7 pct rise in
soybean sowing... | Commodities and Trade |
CHINA TRADE DEFICIT FALLS IN JANUARY
| China's trade deficit in January fell to
310 mln dlrs from 460 mln in January 1986, the China Daily
Business Weekly said.
Quoting customs figures, the paper said exports fell to
1.75 billion dlrs from 1.84 billion and imports fell to 2.06
billion from 2.3 billion.
| Corporate News |
JACOBS SUCHARD AG <JACZ.Z> 1986 YEAR
| Net 190.9 mln Swiss francs vs 150.4 mln
Turnover 5.24 billion vs 5.38 billion
Dividend 160 per bearer vs 155 francs, 32 francs per
registered vs 31 francs, 16 francs per participation
certificate vs 15.50 francs
Cash flow 294.3 mln vs 242.6 mln
Note - Confirms forecast of results issued in... | Market and Economy |
British Telecom third quarter pre-tax profit 506 mln stg vs 452 mln
|
British Telecom third quarter pre-tax profit 506 mln stg vs 452 mln
| Other |
BANK OF ENGLAND OFFERS EARLY HELP IN MONEY MARKET
| The Bank of England said it had invited
the discount houses to make an early round of bill offers to
help offset a large liquidity shortage in the money market.
It estimated the shortage at around 1.55 billion stg, one
adverse factor being the unwinding of a sale and repurchase
agreement, with the marke... | Other |
BRITISH TELECOM 3RD QTR ENDED DEC 31
| Shr 5.1p vs 4.2p, making 15.3p vs 12.7p for nine months.
Pre-tax profit 506 mln stg vs 452 mln, making 1.51 billion
stg vs 1.35 billion.
Net profit before minorities 320 mln vs 268 mln, making 960
mln vs 807 mln.
Note - Company's full name is British Telecommunications
Plc <BTY.L>.
Th... | Financial Reports |
SDC SYDNEY COST REVIEW MAY ELIMINATE PRODUCTS
| <SDC Sydney
Development Corp>, earlier reporting an increased nine month
operating loss, said a cost control review now underway may
result in cost reduction and elimination of unprofitable and
non-strategic products and services.
The company's operating loss for the nine months ended
December 31, ... | Market and Economy |
U.K. MONEY MARKET GIVEN EARLY ASSISTANCE
| The Bank of England said it had bought
bills worth 1.059 billion stg from the market for resale on
March 31 at rates of interest between 10-7/16 pct and 10-17/32
pct.
Earlier, the Bank said it estimated the liquidity shortage
in the market today at around 1.55 billion stg.
| Financial Reports |
DANISH UNEMPLOYMENT RISES TO 7.9 PCT IN JANUARY
| Denmark's seasonally adjusted
unemployment rate rose to 7.9 pct of the workforce in January
from 7.8 pct in December, unchanged from January 1986, the
National Statistics Office said.
The total of unemployed in January was 216,200 against
212,200 in December and 216,600 in January 1986.
| Other |
ROWNTREE MACKINTOSH PLC<RWNT.L> YEAR TO END JANUARY
| Shr 35.0p vs 34.8p
Div final div 9.2p vs 8.2p
Pretax profit 84.0 mln stg vs 79.3 mln
Net after tax 66.2 mln vs 60.7 mln
Turnover 1,290.4 mln vs 1,205.2 mln
Trading profit 105.7 mln stg vs 101.3 mln, consisting -
U.K 47.9 mln vs 45.3
Europe 7.8 mln vs 3.4 mln
North Amer... | Market and Economy |
TAIWAN CLAMPS NEW CONTROLS ON CURRENCY INFLOWS
| Taiwan's new controls on currency
inflows, implemented today, are a desperate bid to stem a flood
of speculative money prompted by the local currency surge
against the U.S. Dollar, local and foreign bankers said.
The central bank now has to clear remittances exceeding one
mln U.S. Dlrs earned from expor... | Corporate News |
GLYNWED INTERNATIONAL PLC <GLYN.L> 1986 YEAR
| Shr, net basis 27.47p vs 22.15p
Div 6.5p vs 5.4p making 10.1p vs 8.4p
Pretax profit 46.1 mln stg vs 35.6 mln
Net after tax 30 mln vs 23.3 mln
Extraordinary items debit 3.8 mln vs debit 2.3 mln
Interest payable 2.7 mln vs 4.0 mln
Net borrowings 7.6 mln vs 16.1 mln
Turnover 478... | Other |
DUTCH SUGAR TRADE DENY INVOLVEMENT IN OFFER
| Dutch sugar traders deny involvement
in a plan to offer more than 850,000 tonnes of sugar to
intervention in protest at EC export policy and prices, traders
told Reuters.
Although some 2,500 tonnes of sugar have been offered to
intervention in the Netherlands, Dutch producers and traders
said this sug... | Other |
GLYNWED SEES FURTHER PROGRESS IN 1987
| Glynwed International Plc <GLYN.L> in a
statement accompanying their results that present indications
are that 1987 has started well and it is confident that the
year will be one of further progress.
The company added that results in the U.S. Were poor and
the deterioration in the South African econo... | Commodities and Trade |
BRITISH TELECOM SEES SATISFACTORY 1986/87 RESULTS
| British Telecommunications Plc <BTY.L>
expects to announce satisfactory results for its 1986/87
financial year ending March, chairman Sir George Jefferson said
in a third quarter statement.
Full year results will be published in June. In the 1985/86
financial year, pre-tax profit rose to 1.81 billion... | Financial Reports |
INDIA BUYS WHITE SUGAR FROM LONDON TRADERS
| India yesterday bought two cargoes of
white sugar from London traders for April/May shipment and
granted the trade houses the option to sell an additional two
cargoes at the same price for May/June shipment, the firms
involved said.
E D and F Man and Woodhouse, Drake and Carey both said they
sold sing... | Other |
HANDY AND HARMAN <HNH> 4TH QTR LOSS
| Shr loss 51 cts vs loss three cts
Net loss 7,041,000 vs loss 467,000
Rev 138.9 mln vs 131.4 mln
12 months
Shr loss 64 cts vs profit 46 cts
Net loss 8,843,000 vs profit 6,306,0000
Rev 558.9 mln vs 556.7 mln
NOTE: Net loss for 4th qtr 1986 includes charge for
restructuring of... | Other |
<MULTI-STEP PRODUCTS INC> SIX MTHS DEC 31 LOSS
| Shr loss 11 cts
Loss 739,146
Revs 11,754,251
Note: initial public listing December, 1986
| Other |
<NEXT PLC> <NEXL.L> FIVE MONTHS TO END JANUARY
| Shr 7.67p vs 5.34p
Div 1.5p vs 1.08p
Pretax profit 30.12 mln stg vs 12.40 mln
Net interest payable 2.55 mln vs 200 stg
Net after tax 19.58 vs 7.44 mln
Turnover excluding VAT 257.66 mln vs 74.09 mln
Note - The company said it intends to issue a second
interim statement for the six... | Commodities and Trade |
AUSTRALIA EXPECTS RISE IN MEAT EXPORTS TO MIDEAST
| Australia expects meat and livestock
exports to the Middle East to maintain an upward trend this
year, managing director of the Australian Meat and Livestock
Corp, Peter Frawley, said.
He told Reuters an improvement in the economic climate and
less competition from the European Community should lead in ... | Commodities and Trade |
INDIA 1986/87 COTTON EXPORT QUOTA UP 190,000 BALES
| India's raw cotton export quota has
been raised by 190,000 170-kg bales to 600,000 bales in 1986/87
ending August, still well below the 1985/86 quota of 1.35 mln
bales, Minister of State for Textiles R.N. Mirdha said.
State and private agencies contracted to export 1.34 mln
bales in 1985/86, he told jou... | Financial Reports |
STE LYONNAISE DES EAUX <LYOE.PA> YEAR ENDED DEC 31
| Consolidated attributable net 1986 profit 360 mln francs vs
279.8 mln.
Parent company net profit 191 mln vs 150.9 mln.
| Financial Reports |
LYONNAISE DES EAUX FORECASTS 1987 PROFIT RISE
| Consolidated attributable net profit of
Ste Lyonnaise des Eaux <LYOE.PA> is likely to rise by at least
10 pct this year from the 360 mln francs reported for 1986,
Chairman Jerome Monod told a news conference.
Group turnover should rise about seven pct from the 15.7
mln reported for this year, while g... | Financial Reports |
GUS MAKES 8.2 MLN STG AGREED OFFER FOR PANTHERELLA
| Great Universal Stores Plc <GUS.L> said
it has made an agreed offer for <Pantherella Plc>, valuing the
company at 8.2 mln stg and each Pantherella ordinary share at
205 pence.
The offer is based on eight new "A" non voting ordinary
shares in GUS plus 95.16 stg for every 100 ordinary
Pantherella.... | Financial Reports |
U.K. MONEY MARKET OFFERED BORROWING FACILTIES
| The Bank of England said it had offered
borrowing facilities to those discount houses wishing to use
them at 1430 GMT.
The Bank also said it provided the money market 456 mln stg
assistance in the afternoon session bringing its total help so
far today to 493 mln stg. This compares with its forecast of a... | Other |
<BOND CORP INTERNATIONAL LTD> NINE MOS TO DEC 31
| Shr loss 17.4 H.K. Cents (no comparison)
Dividend nil (no comparison)
Net loss 11.49 mln dlrs.
Notes - Net excluded extraordinary losses 27.91 mln dlrs.
Property valuation reserve surplus 67 mln dlrs.
Results reflected trading in subsidiary <Humphreys Estate
Group> but excluded influenc... | Other |
GERMAN PUBLIC AUTHORITY BUNDESBANK HOLDINGS FALL
| The net position of federal states
worsened in the first March week, cutting public authority net
holdings at the Bundesbank by 500 mln marks, the central bank
said.
States' cash deposits at the central bank fell to 800 mln
and they also drew down 1.2 billion marks in book credit, 900
mln marks more t... | Other |
CANADA JANUARY TRADE SURPLUS 533 MLN DLRS AFTER DECEMBER 965 MLN DLRS SURPLUS
|
CANADA JANUARY TRADE SURPLUS 533 MLN DLRS AFTER DECEMBER 965 MLN DLRS SURPLUS
| Market and Economy |
CANADA JANUARY TRADE SURPLUS 533 MLN DLRS
| Canada had a trade surplus of 533 mln dlrs
in January compared with an upward revised 965 mln dlrs surplus
in December, Statistics Canada said.
The December surplus originally was reported at 964 mln
dlrs. The January surplus last year was 1.19 billion dlrs.
January exports, seasonally adjusted, wer... | Financial Reports |
HUNGARIAN 1987 SUGAR BEET AREA LITTLE CHANGED
| Hungary is to grow sugar beet on
105,000 hectares of land this year compared with some 95,000 in
1986, the official MTI news agency said.
Diplomats said this reflected Hungary's policy of keeping
the sugar beet area stable under the current five-year plan
(1985-89) and producing enough to cover only dom... | Market and Economy |
KIDSTON SAYS HIGHER NET REFLECTS GOLD SALE RISE
| <Kidston Gold Mines Ltd> attributed
the rise in 1986 net profit to higher prices and an increase in
gold sales to 237,969 ounces from 206,467 ounces in 1985.
The <Placer Development Ltd> offshoot, which operates
Australia's largest gold mine, in North Queensland, earlier
reported net profit rose t... | Other |
BULLETIN SAYS TIN PRICE MAY RISE TO 20 RINGGIT
| The tin price is likely to rise to
20 ringgit a kilo this year because of the producers' accord on
export quotas and the reluctance of brokers and banks to sell
the metal at lower prices, a Malaysian government bulletin
said.
The Malaysian Tin bulletin said it is in producers'
interest to keep to thei... | Market and Economy |
<KIDSTON GOLD MINES LTD> 1986 YEAR
| Shr 48.4 cents vs 40.6
Yr div 37 cents vs 15
Net 60.50 mln dlrs vs 50.76 mln
Turnover 134.54 mln vs 100.63 mln
Other income 1.02 mln vs 920,000
Shrs 125 mln vs same.
NOTE - Company paid total 37 cents in previously declared
quarterly divs vs 15. Net is after tax 173,000 dlrs vs 2... | Market and Economy |
CHINA CLOSES SECOND ROUND OF OFFSHORE OIL BIDS
| China has closed the second round of
bidding by foreign firms for offshore oil exploration rights,
the China Daily has reported.
It quoted a spokesman for the China National Offshore Oil
Corp (CNOOC) as saying China signed eight contracts with 15
foreign firms for blocks in the Pearl River mouth and sou... | Other |
LEIGH-PEMBERTON OPPOSES TAKEOVER PROTECTION RULES
| The Bank of England does not favour the
introduction of rules to shield companies from hostile takeover
attempts, its governor, Robin Leigh-Pemberton, said.
Instead, merchant banks advising bidding companies must
show restraint and responsibility to avoid the excesses that
have marred recent takeovers, ... | Market and Economy |
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