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U.S. CREDIT MARKETS END UNDER EXTREME PRESSURE
| The U.S. credit market ended under
extreme pressure as the dollar's continued slide on the
currency markets triggered an avalanche of U.S. securities
sales, pushing prices to 1987 lows, dealers and analysts said.
"This was a bloodbath," said one money market economist.
"We've been trading in a state of ... | Financial Reports |
STEEL TECHNOLOGIES <STTX>, MITSUI SET VENTURE
| Steel Technologies Inc said it
agreed to form a 50-50 joint venture with <Mitsui and Co Ltd>
to make steel products.
The venture, called Mi-Tech Steel Inc, will be set up to
serve Japanese and domestic automobile and appliance parts
makers in the U.S.
A plant will be located near Murfreesboro, ... | Financial Reports |
INLAND VACUUM <IVAC> SETS STOCK SPLIT
| Inland Vacuum Inc said is
board proposed a two-for-one stock split payable to
shareholders of record April 30.
The board also elected Phillip Frost chairman, succeeding
John Durkin, who remains president and chief executive officer.
Frost in early February bought 49 pct of the company, Durkin
said.
... | Commodities and Trade |
JOHNSON PRODUCTS INC <JPC> 2ND QTR FEB 28 LOSS
| Shr loss three cts vs loss 39 cts
Net loss 115,000 vs loss 1,544,000
Rev 6.9 mln vs 7.3 mln
Six months
Shr profit four cts vs loss 44 cts
Net profit 141,000 vs loss 1,772,000
Rev 13.9 mln vs 14.5 mln
NOTE: Net includes loss from discontinued operations of
78,000 dlrs, or tw... | Financial Reports |
STEEL TECHNOLOGIES <STTX> IN JOINT VENTURE
| Steel Technologies Inc said it
signed an agreement with Mitsui and Co Ltd <MITSY> and its
subsidiaries to establish a joint venture corporation to be
called Mi-Tech Steel Inc.
Mitsui, through its subsidiaries, Mitsui and Co USA Inc and
Mitsui Steel Development Co Inc, and Steel Technologies each
wi... | Financial Reports |
MAYNARD OIL CO <MOIL> YEAR LOSS
| Oper shr loss 44 cts vs profit 58 cts
Oper net loss 2.7 mln vs profit four mln
Revs 13.3 mln vs 28.4 mln
Avg shrs 6.1 mln vs seven mln
NOTE: Prior year excludes extraordinary gain of 21 cts per
share.
| Market and Economy |
ANITEC IMAGE TECHNOLOGY CORP <ANTC> 2ND QTR NET
| Shr 33 cts vs 28 cts
Net 3,722,000 vs 3,103,000
Sales 33.0 mln vs 31.8 mln
Avg shrs 11.2 mln vs 11.1 mln
1st half
Shr 68 cts vs 58 cts
Net 7,585,000 vs 6,346,000
Sales 65.9 mln vs 61.3 mln
Avg shrs 11.2 mln vs 11.0 mln
NOTE: Share adjusted for three-for-two Octobe... | Other |
KANSAS GAS AND ELECTRIC CO <KGE> FEBRUARY NET
| Shr 13 cts vs 5 cts
Net 5,568,319 vs 2,968,437
Rev 36.5 mln vs 34.0 mln
12 months
Shr 1.60 dlrs vs 1.79 dlrs
Net 72,865,101 vs 85,198,853
Rev 521.3 mln vs 420.3 mln
NOTE: Twelve months includes the cumulative effect of a
change in accounting methods for accruing unbilled re... | Financial Reports |
<JOURNEY'S END MOTEL CORP> SIX MTHS JAN 31 NET
| Shr 13 cts vs 14 cts
Net 1,329,000 vs 1,054,000
Revs 20.7 mln vs 11.4 mln
Avg shrs 10,100,000 vs 7,500,000
| Corporate News |
NEOAX <NOAX> BUYS REXNORD <REX> UNIT
| Neoax Inc said it bought
Rexnord Inc's Fairfield Manufacturing Co for 70.5 mln dlrs
cash.
The unit makes custom gears for industrial use and had
sales of 84 mln dlrs in its Oct. 31, 1986 fiscal year.
| Financial Reports |
<R.L. CRAIN INC> 4TH QTR NET
| Shr 80 cts vs 79 cts
Net 4,212,000 vs 4,142,000
Sales 111.1 mln vs 107.1 mln
| Market and Economy |
EXXON (XON) SEES SYNFUELS ROLE BY YEAR 2000
| Development of costly shale oil,
liquified coal and other kinds of synthetic fuels, halted in
recent years because of cheap and abundant petroleum supplies,
will become economic again when world oil prices top 30 dlrs a
barrel, an Exxon Co USA executive said.
Joe McMillan, a senior vice president, told ... | Financial Reports |
OKLAHOMA WEEKLY CROP REPORT
| The Oklahoma weekly USDA crop
report said cold weather slowed crop development and caused
some cattle deaths.
Wheat growth was halted by cold weather, and rain early in
the week prevented fertilizer application and weed spraying.
Fields in the west were short of nitrogen, and moderate insect
activity ... | Financial Reports |
DUTCH MONEY MARKET DEBT BARELY CHANGED IN WEEK
| Loans and advances from the Dutch
central bank to the commercial banks were barely changed at
12.9 billion guilders in the week up to and including March 2,
the central bank weekly return showed.
The Treasury's account with the bank dropped 1.3 billion
guilders. Dealers said a larger amount of funds in ... | Other |
BRAZIL TEMPORARILY LEGALISES DLR PARALLEL MARKET
| Brazilian President Jose Sarney
announced a move which temporarily legalises the purchase of
U.S. dollars in the parallel currency market, aimed at
promoting imports of foreign goods.
In a speech, Sarney justified his measure as a need to face
"current well known difficulties to obtain foreign loans for... | Financial Reports |
USX <X> UNIT RAISES SOME STEEL PRICES
| USX Corp said its USS steelmaking
division increased prices on plate and H-pile products.
Effective with May three shipments, it said the price base
on carbon and high-strength low-alloy, or HSLA, H-piles will
increase by 1-1/2 cts per pound.
Effective with shipments beginning June 28, the price on
... | Financial Reports |
CANADA BANKS COULD SEE PRESSURE ON BRAZIL LOANS
| Canada's major banks will likely face
stiff pressure to declare their Brazilian loans non-performing
if, as expected, major U.S. banks take similar action after the
end of their first quarter tomorrow, analysts said.
American bankers said last week that slow progress in debt
talks with Brazil increased ... | Financial Reports |
VENEZUELA PLANS METALS INVESTMENT FOR 1987-89
| The Venezuela Guayana Corporation, CVG,
which oversees the state steel, iron, aluminum and other
industries, will invest 75 billion bolivars in new projects
during 1987-89, CVG president Leopoldo Sucre Figarella
announced.
The investments will go to plant expansion, infrastructure
and the extension of... | Financial Reports |
INFINITY <INFTA> TO PURCHASE AM/FM STATION
| Infinity Broadcasting Corp said it
entered an agreement to acquire radio stations KVIL AM/FM from
Sconninx Broadcasting Co for 82 mln dlrs.
Upon completion of the transaction, Infinity will own nine
FM and four AM stations in 10 major markets.
The transaction is subject to FCC approval.
| Commodities and Trade |
N.Z. FEBRUARY CURRENT ACCOUNT DEFICIT 78 MLN V 93 MLN JAN - GOVT
|
N.Z. FEBRUARY CURRENT ACCOUNT DEFICIT 78 MLN V 93 MLN JAN - GOVT
| Other |
BULL AND BEAR GROUP INC <BNBGA> YEAR END DEC 31
| Shr loss 45 cts vs profit 25 cts
Net loss 641,000 vs profit 352,000
Revs 5,747,000 vs 3,038,000
| Financial Reports |
FRETTER INC <FTTR> 4TH QTR JAN 31 NET
| Shr loss five cts vs profit 36 cts
Net loss 784,000 vs profit 4,793,000
Revs 90 mln vs 79 mln
Year
Shr profit 27 cts vs profit 65 cts
Net profit 4,010,000 vs profit 8,539,000
Revs 273 mln vs 214 mln
| Commodities and Trade |
AMFAC <AMA> TO SELL STORE
| Amfac Inc said it entered an
agreement to sell the last remaining store of its original
Liberty House of California operation to H and S - San Mateo
Inc.
Terms were not disclosed.
| Financial Reports |
HARPER INTERNATIONAL <HNT> IN ACQUISITION
| Harper International Inc
said it intends to buy the major asset, patents and trade name
of Demarkus Corp, a designer and installer of process gas
systems for the soft drink and brewing industries.
The purchase price is about 125,000 dlrs.
Demarkus' sales were 470,000 dlrs in 1986.
| Financial Reports |
SARNEY TEMPORARILY LEGALISES DLR PARALLEL MARKET
| Brazilian President Jose Sarney
announced a move which temporarily legalises the purchase of
U.S. Dollar currency in the parallel market, aimed at promoting
imports of foreign goods.
In a speech, Sarney justified his measure as a need to face
"current well known difficulties to obtain foreign loans for ... | Financial Reports |
OLSON INDUSTRIES <OLSN> TO SELL EGG OPERATIONS
| Olson Industries Inc said
it signed a letter of intent to sell substantially all of its
remaining egg operations to Sunny Fresh Foods inc.
Olson said it expects to receive about nine mln dlrs from a
combination of a sale of tangible assets to Sunny Fresh and
realization of intangible and other assets by... | Financial Reports |
N.Z. FEBRUARY CURRENT ACCOUNT DEFICIT NARROWS
| New Zealand's current account
deficit narrowed to 78 mln dlrs in February from 93 mln in
January and 233 mln in February 1986, in a smoothed seasonally
adjusted measurement, the statistics department said.
This is the first time current account figures have
appeared in a seasonally adjusted form.
... | Financial Reports |
GENCORP REJECTS UNSOLICITED TAKEOVER BID FROM AFG INDUSTRIES/WAGNER AND BROWN
|
GENCORP REJECTS UNSOLICITED TAKEOVER BID FROM AFG INDUSTRIES/WAGNER AND BROWN
| Other |
GROUP SELLS STAKE IN COMDATA NETWORK <CDN>
| A group of investment firms which
had once sought control of Comdata Network Inc, told the
Securities and Exchange Commission it sold its remaining
1,113,500-share, or 5.9 pct, stake in the company.
The group, which had owned as much as 9.5 pct of the total,
said it sold the stake on March 27 at 15-3/4 ... | Commodities and Trade |
GENCORP <GY> REJECTS UNSOLICITED TAKEOVER BID
| Gencorp Inc said its board urged
shareholders to reject the hostile unsolicited 100 dlr a share
tender offer made March 18 by General Acquisition Inc, an
affiliate of Wagner and Brown and AFG Industries INc.
Gencorp also said it is developing a financially superior
alternative that would enable sharehol... | Commodities and Trade |
DOME MINES LTD <DM> 4TH QTR NET
| Shr profit 17 cts vs loss three cts
Net profit 14,918,000 vs loss 2,732,000
Revs 74.8 mln vs 54.7 mln
YEAR
Shr profit 80 cts vs profit 15 cts
Net profit 71.6 mln vs profit 12.2 mln
Revs 293.4 mln vs 222.8 mln
Note: 1986 fl-yr net includes extraordinary gain of 56.3
mln dlrs... | Financial Reports |
U.S. SHOULD REASSESS MIDEAST POLICY - ANALYST
| The U.S. should reassess
its Mideast policy in light of its rising dependence on
imported oil, according to Charles Ebinger of the Center for
Strategic and International Studies.
"The prospect of rising dependence on oil imports from the
Gulf, and the recent revelations of the Tower Commission
report... | Other |
ENVIROSURE MANAGEMENT CORP <ENVS> 1ST QTR LOSS
| Qtr ended Nov 30
Shr loss nil vs profit nil
Net loss 1,321,940 vs profit 128,164
Revs 4,582,260 vs 5,115,456
| Other |
COMMERCIAL METALS CO <CMC> SETS QTLY DIVIDEND
| Qtly div eight cts vs eight cts prior
Pay April 24
Record April 10
| Commodities and Trade |
IMPERIAL <ICA> DECLARES FIRST DIV SINCE 1981
| Imperial Corp of America said
it declared a 10 cts dividend and four pct stock dividend on
APril 25 to holders of record April 10.
This is the first dividend payment since 1981, the company
said.
| Commodities and Trade |
30-MAR-1987
| 30-MAR-1987
| Other |
Japan February unemployment falls to 2.9 pct (3.0 pct in January) - official
|
Japan February unemployment falls to 2.9 pct (3.0 pct in January) - official
| Commodities and Trade |
JAPAN UNEMPLOYMENT FALLS IN FEBRUARY
| Japan's seasonally adjusted unemployment
rate fell to 2.9 pct in February from the record 3.0 pct in
January, the government's Management and Coordination Agency
said.
The January level was the worst since the Goverment started
compiling unemployment statistics under the current system in
1953.
... | Financial Reports |
PARTNERS CALL GENCORP<GY> RESPONSE UNPRODUCTIVE
| General Acquisition Co said it was
disappointed by Gencorp's response to its tender offer and
questioned how the company might give better value to
shareholders.
Gencorp earlier urged shareholders to reject a 100 dlr per
share tender offer from the partnership, which includes Wagner
and Brown and AFG ... | Commodities and Trade |
MIYAZAWA SAYS DOLLAR BELOW 150 YEN IS COUNTER TO PARIS ACCORD
|
MIYAZAWA SAYS DOLLAR BELOW 150 YEN IS COUNTER TO PARIS ACCORD
| Commodities and Trade |
DLR BELOW 150 YEN COUNTER TO PARIS PACT - MIYAZAWA
| Finance Minister Kiichi Miyazawa said he
regards a U.S. Dollar below 150 yen as counter to the agreement
struck by major nations in Paris last month.
He told the Upper House Budget Committee in Parliament that
Japan intervened in the market when the dollar went below 150
yen, as it considered the dollar... | Other |
BANK OF JAPAN BUYS DOLLARS AROUND 145.75 YEN - DEALERS
|
BANK OF JAPAN BUYS DOLLARS AROUND 145.75 YEN - DEALERS
| Corporate News |
PAKISTAN BIDS FOR IMPORT OF 100,000 TONNES SUGAR
| Trading Corp of Pakistan Ltd said it
had invited tenders up to April 11, 1987 for the import of
100,000 tonnes of white refined crystal sugar up to June.
It said each cargo should consist of 15,000 tonnes. Four
cargoes should reach Port Bin Qasim or Karachi Port (buyers
option) by May 31 and the balance... | Corporate News |
WOODSIDE PETROLEUM LTD <WPLA.S> 1986 YEAR
| Shr nil vs same
Final and yr div nil vs same
Pre-tax, pre-minorities loss 3.53 mln dlrs vs profit 17.40
mln.
Net attributable loss 17.14 mln dlrs vs loss 8.73 mln
Sales 220.84 mln vs 173.50 mln
Other income 17.77 mln vs 12.02 mln
Shrs 666.67 mln vs same.
NOTE - Attributable... | Financial Reports |
DASA CORP <DASA> YEAR NET
| Shr profit three cts vs loss 11 cts
Net profit 507,000 vs loss 1,823,000
Revs 11.2 mln vs 204,000
| Financial Reports |
JAPAN HOUSING STARTS RISE IN FEBRUARY
| Japan's housing starts in February rose
13.4 pct from a year earlier to 109,254, the 10th successive
year-on-year gain, the Construction Ministry said.
February housing starts were up 16.8 pct from 93,554 in
January when they fell 27.4 pct from a month earlier but rose
10.3 pct from a year earlier.
... | Corporate News |
WOODSIDE SAYS LOSS REFLECTS LOWER OIL PRICES
| Woodside Petroleum Ltd <WPLA.S> said
its 1986 net loss largely reflected the drop in oil prices
combined with a large tax provision.
Woodside earlier reported attributable net loss rose to
17.14 mln dlrs in 1986 from 8.73 mln in 1985, although group
revenue rose to 220.84 mln from 173.50 mln.
I... | Corporate News |
THAILAND EXPECTS SMALLER SUGARCANE OUTPUT
| Thailand's sugarcane output will fall
to about 23.55 mln tonnes in the 1986/87 (November-October)
season from 24.09 mln in 1985/86, the Agriculture Ministry
said.
It said a January survey put the total area under sugarcane
at 545,528 hectares, down from 556,860 hectares the previous
year.
The na... | Financial Reports |
EUROPEAN COMMUNITY TO SET UP OFFICE IN PEKING
| China and the European Community (EC)
signed an agreement on the establishment of an EC office here.
Chinese vice-foreign minister Zhou Nan and the EC's
external relations commissioner, Willy De Clercq, signed the
accord. EC sources said the office was likely to open in the
second half of this year.
... | Financial Reports |
TRADE FRICTION THREATENS TO TOPPLE NAKASONE
| Prime Minister Yasuhiro Nakasone may have
been dealt a fatal political blow by the yen's renewed rapid
rise and the threat of a trade war with the United States,
political analysts said.
Nakasone, already under fire over an unpopular tax reform
plan, may now be forced to resign before the June economic
... | Corporate News |
CSR SELLING DELHI TO EXXON UNIT, DROPS DELHI FLOAT
| CSR Ltd <CSRA.S> and Exxon Corp <XON>
unit <Esso Exploration and Production Australia Inc> said CSR
has agreed to sell its <Delhi Australia Fund> (DAF) to Esso for
985 mln Australian dlrs.
The sale is effective from tomorrow, they said in a joint
statement.
The previously announced flo... | Financial Reports |
JAPAN TO PAY FIVE PCT LESS FOR INDIAN IRON ORE
| Japan will pay five pct less for the
Indian iron ore it imports in fiscal 1987/88 starting April 1
than the average 18 dlrs a tonne it paid in 1986/87, a
government trade official told Reuters.
He said India had agreed to export to Japan about 23 mln
tonnes of iron ore in 1987/88, about the same as in t... | Financial Reports |
GROUP TRIMS MATERIAL SCIENCES <MSC> STAKE
| An investor group led by Central
National-Gottesman Inc, a New York investment firm, and its
executive vice president, Edgar Wachenheim, said they cut their
stake in Material Sciences Corp to less than five pct.
In a filing with the Securities and Exchange Commission,
the group said it sold 19,500 Mater... | Financial Reports |
COMMERZBANK INCREASES DIVIDEND, PARENT NET PROFIT
| Commerzbank AG <CBKG.F> said a
dividend of nine marks would be proposed for ordinary
shareholders on 1986 earnings after eight in 1985.
It added in a statement that parent net profit rose to
288.2 mln marks in 1986 from 221.7 mln the prior year.
A Commerzbank spokesman noted the figures were,howe... | Commodities and Trade |
INDIA REDUCES EXPORT DUTY ON COFFEE
| India cut the export duty on coffee
to 330 rupees per 100 kg from 600 rupees, effective March 23, a
Coffee Board official said.
The reduction should help India reach its coffee export
target of 90,000 tonnes in fiscal 1987/88 ending March 31,
against provisionally estimated exports of 75,000 tonnes in
... | Financial Reports |
SWEDISH CURRENT ACCOUNT DEFICIT RISES IN JANUARY
| Sweden's balance of payments on
current account showed a deficit of 500 mln crowns in January
after a shortfall of 100 mln in December, Central Bank figures
showed.
This compared with a deficit of 1.3 billion in January
1986, the Bank said.
| Commodities and Trade |
WORLD ZINC STOCKS FALL 7,700 TONNES IN FEBRUARY
| World closing stocks of primary zinc
at smelters, excluding Eastern Bloc countries, fell 7,700
tonnes in February to 459,100 tonnes from 466,800 (revised from
449,600) in January, compared with 403,700 in February 1986,
provisional European Zinc Institute figures show.
February closing stocks of primary... | Other |
FINNISH ECONOMIC GROWTH PUT AT THREE PCT IN 1987
| Finland's gross national product is
expected to rise by three pct in 1987 against two pct in 1986
and inflation will be unchanged at about 3.5 pct, the private
business survey office ETLA predicted.
Unemployment in 1987 is put at 5.5 pct, in line with last
year, the office predicted in its regular revie... | Financial Reports |
SHANDWICK BUYS LOS ANGELES PR COMPANY
| Public Relations consultancy <Shandwick
Plc> said it had agreed to buy the Los Angeles-based <Rogers
and Cowan Inc> which specialises in the entertainment industry.
A total of 2.25 mln dlrs is payable on completion, 1.5 mln
will be injected into the business through an interest free
loan and the e... | Financial Reports |
U.K. MONEY MARKET OFFERED EARLY ASSISTANCE
| The Bank of England said it had invited
an early round of bill offers from the discount houses after
forecasting a very large shortage of around 1.75 billion stg in
the money market today.
MORE
| Financial Reports |
HUTCHISON ANNOUNCES BONUS ISSUE OF NEW "B" SHARES
| Hutchison Whampoa Ltd <HWHH.H>
announced a bonus issue of one new "B" share of 2.5 H.K. Cents
each for every two existing ordinary shares of 25 cents a share
par value.
A company statement said Hutchison forecast 1987 dividends
for existing shares of not less than 32.5 cents a share and not
less th... | Financial Reports |
ITALIAN CONSUMER PRICES RISE 0.4 PCT IN MARCH
| Italy's consumer price index rose 0.4 pct
in March compared with February after an identical increase in
February over January, the national statistics institute Istat
said.
The year-on-year rise in March was 4.2 pct, unchanged on
February and compared with 7.2 pct in March 1986.
Istat said its co... | Financial Reports |
EUROPE ON SIDELINES IN U.S-JAPAN MICROCHIP ROW
| Rising imports of Japanese-made cars and
electronic goods may upset West European officials, but they
generally seem prepared to stay on the sidelines in the latest
trade row between the United States and Japan.
Japan's huge trade surplus is a sore point in West Europe,
as it is in the United States. Bu... | Corporate News |
FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS
|
FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS
| Financial Reports |
U.K. MONEY MARKET GETS 1.14 BILLION STG EARLY HELP
| The Bank of England said it had provided
the money market with 1.143 billion mln stg assistance in
response to an early round of bill offers from the discount
houses.
Earlier, the Bank forecast the system would face a very
large deficit today of around 1.75 billion stg.
The central bank purchased ... | Financial Reports |
LONDON INT'L SELLING HOT WATER BOTTLE UNIT
| London International Group Plc <LONL.L>
said it had agreed to sell its <Haffenden Moulding Co Ltd> unit
to <Melton Medes Ltd> for 2.1 mln stg.
Haffenden is a moulder of hot water bottles and also
produces a variety of rubber and plastic mouldings. The book
value of its assets is 4.4 mln stg.
... | Financial Reports |
CABLE SHARES FIRM ON JAPAN SPECULATION
| Shares in Cable and Wireless Plc
<CAWL.L> firmed in morning trading on market speculation that
its participation in a joint telecommunications venture in
Japan would not be curtailed, dealers said.
The company's shares were quoted at 372p at 0915 GMT
compared with 364p last night.
The dealers s... | Financial Reports |
BANK OF JAPAN MULLS OTHER OPTIONS TO STOP YEN RISE
| Today's liberalised financial markets are
making it extremely difficult for Japan's monetary authorities
to prevent the yen's rise against the dollar, but they have
several options other than normal intervention, Bank of Japan
sources said.
A senior central bank official said that such methods as
cont... | Financial Reports |
AKZO REVISES 1986 PROFIT UP SLIGHTLY
| Dutch chemicals group
Akzo NV <AKZO.AS> said in its annual report it had revised its
1986 net profit figure up to 842 mln guilders from a
provisional 840 mln guilders announced in January.
The turnover figure was unchanged at 15.62 billion
guilders.
Akzo said it would be difficult to maintain t... | Financial Reports |
U.K. WHEAT AND BARLEY EXPORTS ADJUSTED UPWARDS
| The U.K. Exported 612,000 tonnes of
wheat and 498,800 tonnes of barley in February, the Home Grown
Cereals Authority (HGCA) said.
Based on the previous provisional figures issued for
February, wheat exports were increased by 480,200 tonnes and
barley by 283,800 tonnes.
The new figures bring cumula... | Corporate News |
S. KOREA MINISTER TO VISIT U.S. FOR CURRENCY TALKS
| South Korea's Finance Minister Chung
In-yong will visit U.S. Treasury Secretary James Baker next
week to discuss U.S. Requests for an appreciation of South
Korea's won against the dollar, finance ministry officials
said.
They said Chung would leave for Washington on Monday to
attend the International ... | Market and Economy |
ADSTEAM TO ACQUIRE 49 PCT OF U.K. PROPERTY COMPANY
| The Adelaide Steamship Co Ltd <ADSA.S>
(Adsteam) said it will subscribe to 30 mln shares in listed
British property developer, <Markheath Securities Plc>, at 60p
each, subject to shareholder approval.
The subscription, expected to take place in May, will give
Adsteam 49 pct of Markheath, Adsteam s... | Corporate News |
NIPPON COLUMBIA TO MAKE BONUS STOCK ISSUES
| Nippon Columbia Co Ltd <NCOL.T> will make
a one-for-20 bonus stock issue on July 14 to pay back remaining
premiums accumulated by 4.5 mln shares issued at market price
through public placement in September 1980, a spokesman said.
The bonus issue will bring its outstanding capital shares
to 65.02 mln ... | Financial Reports |
BUNDESBANK HAS NOT INTERVENED TODAY, DEALERS
| The Bundesbank declined to comment on
rumours in Tokyo that it was intervening heavily to support the
dollar, but dealers here said they had not seen the German
central bank in the market all morning.
The dollar was quoted at around 1.8040 marks shortly after
midday in nervous but quiet trading, up from... | Financial Reports |
ANALYSTS APPLAUD CSR'S BOLD MOVE TO SELL DELHI
| CSR Ltd <CSRA.S> has made a bold move in
selling its oil and gas interests for almost a billion dlrs and
ploughing 150 mln into its traditional sugar business, share
analysts said.
"It sounds like a good deal," Stuart McKibbin of <A.C. Goode
and Co> told Reuters.
CSR said it had dropped plan... | Financial Reports |
DROUGHT THREAT EASES IN SOUTH CHINA PROVINCE
| Rainfall in the past few days has eased
the threat of drought in the south China province of Guangdong,
the New China News Agency said.
It said 75 pct of early rice fields are ready to be planted
and seedlings have already been transplanted on 90 pct of rice
fields in Hainan island. Some 840,000 hectare... | Other |
ADC TELECOMMUNICATIONS INC <ADCT> 1ST QTR NET
| Periods ended Jan 31
Shr 28 cts vs 35 cts
Net 2,374,000 vs 2,987,000
Sales 35.2 mln vs 34 mln
Backlog 36.8 mln vs 33.9 mln
| Financial Reports |
KLEINWORT BENSON LONSDALE PLC <KBLL.L> YEAR 1986
| Shr 53.05p vs 45.79p adjusted
Div 8.7p making 14p vs 12p adjusted
Pretax profit 78.84 mln stg vs 60.31 mln
Net after tax 50.71 mln vs 40.54 mln
Extraordinary credit after tax 43.19 mln vs nil
Note - The extraordinary credit represents substantitally
the after tax profit on sale of comp... | Financial Reports |
<CGEE ALSTHOM> YEAR TO END-DECEMBER 1986
| Dividend 24 francs vs 30
Consolidated net profit 115.7 mln francs vs 108.3 mln of
which attributable to group 110.8 mln vs 102.5 mln
Consolidated net turnover 11.16 billion francs vs 11.42
billion
Parent company net profit 115.5 mln vs 95.0 mln
Parent co net turnover 9.99 billion vs 9.91 b... | Corporate News |
THATCHER SAYS TRADE TARGETS SET WITH MOSCOW
| British Prime Minister Margaret Thatcher
said she and Soviet Premier Nikolai Ryzhkov had set targets for
increased trade between the two countries during talks earlier
today.
She said she hoped more economic exchanges between Britain
and the Soviet Union "will also lead to increased friendship and
inc... | Financial Reports |
COMMODITY PACTS MORE ORIENTED TOWARDS MARKET
| Consuming countries, chastened by the
collapse of International Tin Council (ITC) price support
operations in 1985, are insisting more than ever before that
commodity pacts reflect the reality of the markets they are
serving, a Reuter survey showed.
They want price ranges to be more responsive to market... | Market and Economy |
JAPAN TO CUT MICROCHIP OUTPUT, BOOST IMPORTS
| Leading domestic semiconductor makers
will boost imports and cut production of key memory microchips
from next month in line with government attempts to ward off
U.S. Trade sanctions, company spokesmen said.
The moves might persuade the U.S. To call off the
sanctions, despite obstacles to full implement... | Corporate News |
LONDON AND SCOTTISH MARINE OIL PLC <LASL.L>
| Year 1986
Div 7.0p vs 12.2p
Shr 9.6p vs 31.3p
Pretax profit 4.4 mln stg vs 118.0 mln
Net 17.6 mln vs 37.7 mln
Total turnover 183.8 mln vs 348.0
Amortisation 71.4 mln vs 86.3
Traded oil purchases 41.2 mln vs 44.5 mln Administration
expenses 6.2 mln vs 8.0 mln
Net inter... | Financial Reports |
UK MONEY MARKET GIVEN FURTHER 570 MLN STG HELP
| The Bank of England said it provided the
market with a further 570 mln stg assistance during the morning
after revising its estimate of the liquidity shortage to 1.85
billion stg, before taking account of its early round of bill
purchases.
Initially, the Bank put the likely shortage at some 1.75
billi... | Corporate News |
31-MAR-1987
| 31-MAR-1987
| Corporate News |
TYLAN CORP <TYLN> TO SELL FURNACE PRODUCT LINE
| Tylan Corp aid it has retained
the investment banking firm Kahn and Harris to sell its furnace
product line.
The company said it has already been contacted by several
potential buyers.
In 1986, Tylan's furnace product shipments in the U.S.
represented 10.3 mln dlrs of the company's total net sales... | Financial Reports |
MAURITIAN SUGAR EXPORTS FALL IN FEBRUARY
| Mauritius exported 47,144 tonnes of
sugar (tel quel) in February, down from 57,911 tonnes (tel
quel) shipped in January and 89,351 in February 1986, the
Mauritius Chamber of Agriculture's Sugar News Bulletin said.
Opening stocks at the beginning of last month totalled
320,057 tonnes, against 288,406 ton... | Corporate News |
CSR SELLS OIL/GAS INTERESTS, BIDS TO EXTEND SUGAR
| CSR Ltd has made a bold move in selling
its oil and gas interests for almost a billion dlrs and
ploughing 150 mln into its traditional sugar business, share
analysts said.
CSR said it had dropped plans to float its oil and gas
interests held in the Delhi Australia Fund and would instead
sell them to E... | Other |
LASMO SET TO BENEFIT FROM FUTURE OIL PRICE RISES
| London and Scottish Marine Oil Plc
(Lasmo) <LASL.L> will have an advantage when oil prices rise
again and it is confident this will happen early in the next
decade, the company said in a statement accompanying results.
Lasmo said its advantage comes from its reserves of oil and
gas which at the end o... | Commodities and Trade |
CHINA BUYS MALAYSIAN RBD PALM STEARINE
| China bought 6,000 tonnes of Malaysian
refined bleached deodorised palm stearine today for May
shipment at prices equivalent to around 270 to 275 dlrs per
tonne fob, traders said.
| Other |
CALL MONEY PRESSURE FROM LARGE GERMAN BANKS
| One or two large West German banks
effectively drained the domestic money market of liquidity at
the end of the month in order to achieve higher rates from
their overnight deposits, money dealers said.
As a result, call money soared in active trading to around
the Lombard rate of five pct from 3.70/80 p... | Commodities and Trade |
CSR SELLING DELHI TO EXXON UNIT, DROPS DELHI FLOAT
| CSR Ltd <CSRA.S> and Exxon Corp <XON>
unit <Esso Exploration and Production Australia Inc> said CSR
has agreed to sell its <Delhi Australia Fund> (DAF) to Esso for
985 mln Australian dlrs.
The sale is effective from tomorrow, they said in a joint
statement.
The previously announced flo... | Financial Reports |
CSR BIDS 2.20 DLRS A SHARE FOR PIONEER SUGAR MILLS
| CSR Ltd <CSRA.S> said it will offer 2.20
dlrs cash each for the shares it does not already hold in
<Pioneer Sugar Mills Ltd>.
CSR already holds 31.74 pct of Pioneer's 99.80 mln issued
shares, it said in a statement.
The offer price values the entire Pioneer Sugar share
capital at 219.6 mln d... | Financial Reports |
BUNDESBANK HAS NOT INTERVENED TODAY, DEALERS
| The Bundesbank declined to comment on
rumours in Tokyo that it was intervening heavily to support the
dollar, but dealers here said they had not seen the German
central bank in the market all morning.
The dollar was quoted at around 1.8040 marks shortly after
midday in nervous but quiet trading, up from... | Financial Reports |
FLETCHER CHALLENGE DISAPPOINTED AT NZ FOREST MOVES
| <Fletcher Challenge Ltd> (FCL)
Managing Director Hugh Fletcher said he was disappointed that
<Rada Corp Ltd> had decided to sell its shares in <N.Z. Forest
Products Ltd> (NZFP) to Australia's <Amcor Ltd>.
He said in a statement that FCL had made an offer for the
24 pct of NZFP held by Rada. ... | Financial Reports |
<ROYAL BANK OF CANADA> 1ST QTR JAN 31 NET
| Shr basic 88 cts vs 1.22 dlrs
Shr diluted 83 cts vs 1.10 dlrs
Net 114,108,000 vs 140,389,000
Avg shrs 107.5 mln vs 100.5 mln
Loans 66.4 billion vs 65.9 billion
Deposits 82.8 billion vs 84.4 billion
Assets 98.7 billion vs 96.7 billion.
| Financial Reports |
SUMITOMO CHEMICAL CO LTD <SUCH.T> YEAR TO DEC 31
| Group shr 4.91 yen vs 6.59
Net 7.72 billion vs 10.38 billion
Current 16.81 billion vs 20.84 billion
Operating 45.56 billion vs 52.02 billion
Sales 734.50 billion vs 996.15 billion
NOTE - Company forecast for current year is group net 14
billion, current 30 billion and sales 740 billion... | Financial Reports |
CHINA'S CITIC BUYS H.K. HOTEL FROM CHEUNG KONG
| The Peking-owned China International
Trust and Investment Corp (Citic) bought the unfinished City
Garden Hotel in Hong Kong from a subsidiary of Cheung Kong
(Holdings) Ltd <CKGH.HKG> for 235 mln H.K. Dlrs, Cheung Kong
director Albert Chow said.
Cheung Kong's subsidiary <International City Holdings... | Financial Reports |
MANNESMANN SEES DIFFICULT YEAR FOR CAPITAL GOODS
| Mannesmann AG <MMWG.F> expects a
difficult year for the capital goods industry in 1987, chief
executive Werner Dieter told a news conference.
Dieter said West German producers would see a downturn in
foreign business because of lower energy prices and the higher
mark, as well as a deterioration of th... | Corporate News |
BANK OF JAPAN TO SELL 800 BILLION YEN IN BILLS
| The Bank of Japan will sell tomorrow a
total of 800 billion yen worth of financing bills from its
holdings to help absorb a projected money market surplus of
1,700 billion yen, money traders said.
Of the total, 300 billion yen will yield 3.8992 pct on
sales from money houses to banks and securities hous... | Other |
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