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VESTAR INC <VSTR> YEAR LOSS
| Shr loss 98 cts vs loss 1.11 dlrs
Net loss 3,863,000 vs loss 3,483,000
Revs 1,081,000 vs 799,000
Note: 4th qtr data not given.
| Corporate News |
<STERLING BANCORP> YEAR NET
| Shr 1.13 dlrs vs 87 cts
Net 1,064,489 ca 780,712
Assets 106.8 mln vs 102.5 mln
Note: 4th qtr data not given.
| Financial Reports |
FIRST NEW HAMPSHIRE BANKS INC DIV
| Qtly div 15 cts vs 15 cts prior
Payable May one
Record April 10
| Financial Reports |
HOUSE OF FABRICS <HF> QUARTERLY DIVIDEND
| Qtly div 12 cts vs 12 cts
Pay July 1
Record June 12
| Other |
Bank of Japan bought 200 to 300 mln dlrs this morning, dealers said.
|
Bank of Japan bought 200 to 300 mln dlrs this morning, dealers said.
| Financial Reports |
JAPAN BUYS MODEST AMOUNT OF DOLLARS, DEALERS SAY
| The Bank of Japan bought a modest amount
of dollars this morning, possibly around 200 to 300 mln,
dealers said.
One dealer said the central bank bought about 200 mln dlrs
through brokers and the rest through banks. The buying began
when the dollar was at about 149.60 yen, and helped drive the
U.S. Cur... | Financial Reports |
JAPAN'S 1986/87 SUGAR CANE OUTPUT SEEN FALLING
| An Agriculture Ministry survey has
estimated the nation's 1986/87 crop sugar cane output at 2.14
mln tonnes, down from 2.62 mln a year earlier.
Ministry officials said the decline was due to bad weather
and a reduction in the land under sugar cane this season, which
totals 34,800 hectares, down from 35,... | Financial Reports |
WEEKS PETROLEUM LTD <WPMA.MEL> CALENDAR 1986
| Shr 16.7 cents vs 29.4
Final div nil vs same making nil vs same
Pre-tax profit 21.31 mln dlrs vs 26.42 mln
Net 10.84 mln vs 19.15 mln
Turnover 17.17 mln vs 25.94 mln
Other income 101.99 mln vs 125.18 mln
Shrs 65.13 mln vs same.
NOTE - Net is after tax 10.47 mln vs 7.27 mln, i... | Corporate News |
Bank of Japan keeps intervening to hold dollar above 149 yen, brokers
|
Bank of Japan keeps intervening to hold dollar above 149 yen, brokers
| Financial Reports |
JAPAN INTERVENING TO KEEP DOLLAR UP, BROKERS
| The Bank of Japan is continuing to
intervene in the Tokyo market, buying small amounts of dollars
to hold the unit above 149 yen, brokers said.
They said the Bank is coming in when the dollar is around
149.05/10 yen, the same levels as New York's close yesterday
and the midday close in Tokyo today.
... | Financial Reports |
U.K. MONEY MARKET DEFICIT FORECAST AT 350 MLN STG
| The Bank of England said it forecast a
shortage of around 350 mln stg in the money market today.
Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
some 525 mln stg while bankers' balnces below target will take
out around 175 mln stg... | Financial Reports |
Current exchange rates almost within levels agreed by major nations - Sumita
|
Current exchange rates almost within levels agreed by major nations - Sumita
| Financial Reports |
Sumita says major nations cooperated to stabilise currencies.
|
Sumita says major nations cooperated to stabilise currencies.
| Financial Reports |
THAILAND'S FOREIGN RESERVES FALL IN FEBRUARY
| Thailand's foreign reserves of gold,
special drawing rights and convertible currencies fell to 3.86
billion dlrs at end-February from 3.95 billion the previous
month, but were above the 3.08 billion held at the same time
last year, the Bank of Thailand said.
It said the reserves were equal to about five... | Financial Reports |
EXCHANGE RATES ALMOST WITHIN G-6 LEVELS - SUMITA
| Bank of Japan governor Satoshi Sumita
said that current exchange rates are almost within the levels
agreed to by six major nations last month in Paris.
Asked whether a dollar/yen rate of 148 or 149 reflected
economic fundamentals, he said current rates almost reflect
fundamentals.
Sumita told repo... | Corporate News |
N.Z. TRADE SURPLUS 119.1 MLN DLRS IN FEBRUARY
| Preliminary trade figures for
February show an excess of exports over imports of 119.1 mln
N.Z. Dlrs, a Statistics Department statement said.
This compares with a 3.3 mln dlr deficit (revised from 1.7
mln) in January and a 36.1 mln dlr deficit in February 1986.
Exports rose to 998.4 mln dlrs, from 8... | Corporate News |
Sumita says Bank of Japan has no intention of lowering its discount rate
|
Sumita says Bank of Japan has no intention of lowering its discount rate
| Financial Reports |
JAPAN DOES NOT INTEND TO CUT DISCOUNT RATE-SUMITA
| Bank of Japan governor Satoshi Sumita
said the central bank has no intention of cutting its discount
rate again as a way of preventing the yen's rise.
He told a press conference that the growth of Japanese
money supply remains high.
The bank will have to watch closely various developments
resultin... | Other |
JARDINE MATHESON PROFITS SEEN UP SHARPLY IN 1986
| A strong performance by its retail
businesses and affiliates will enable Jardine Matheson Holdings
Ltd <JARD.HKG> to report on Friday a big leap in net profit in
1986, stock analysts said.
They told Reuters they expect the firm to show earnings of
between 420 mln and 450 mln H.K. Dlrs last year again... | Corporate News |
CHINA'S FIRST JOINT VENTURE BANK REPORTS PROFIT
| China's first joint venture bank, Xiamen
International Bank (XIB), reported a group net profit of about
14 mln Hong Kong dlrs in 1986, the bank's first full year of
operation.
General manager Liu Shuxun declined to give a 1987 profit
forecast, saying targets were under study.
Assistant general man... | Corporate News |
BANGLADESH'S PAYMENTS DEFICIT NARROWS IN OCTOBER
| Bangladesh recorded an overall balance of
payments deficit of 8.3 mln U.S. Dlrs in October against a
10.33 mln deficit in September and a 6.67 mln surplus in
October 1985, Central Bank officials said.
The country's current account deficit narrowed to 10.69 mln
dlrs in October from 79 mln in September an... | Financial Reports |
TWO JAPANESE STEELMAKERS TO CUT CAPITAL SPENDING
| Nippon Steel Corp <NSTC.TOK> said it will
cut its capital spending by 36.4 pct to 105 billion yen in the
year starting April 1 from a year earlier due to the
postponement of furnace improvements.
<Nisshin Steel Co Ltd> said it will spend 10.7 billion yen
in 1987/88 for rationalisation and facility... | Corporate News |
NISSAN AFFILIATE TO ACQUIRE U.S. AUTOPARTS MAKER
| <Kokusan Kinzoku Kogyo Co Ltd> (KKK), a
Japanese autoparts maker owned 25 pct by Nissan Motor Co Ltd
<NSAN.T>, has exchanged a memorandum to acquire over 50 pct of
U.S. Autoparts firm <Master-Cast Co> to avoid losses on U.S.
Sales caused by the yen's rise against the dollar, a KKK
spokesman said.
... | Other |
YEN MAY RISE TO 140 TO THE DOLLAR, NIKKEIREN SAYS
| The yen could rise to 140 yen to the
dollar, a leading Japanese businessman said.
Bumpei Otsuki, president of the influential Japan
Federation of Employers' Associations, (Nikkeiren), told
reporters: "The yen might rise as far as 140 (to the dollar).
The U.S. Economy is not good, and as long as the U.S.... | Other |
SAUDI RIYAL DEPOSIT RATES EASE
| Saudi riyal interbank deposit rates
eased across the board in a dull market which was long in
day-to-day funds, dealers said.
Today's quiet market continued a lull of several days in
which traders were said to be waiting on the sidelines ahead of
further clues to the direction of oil prices and the Saud... | Corporate News |
BRUSSELS - Ferruzzi says it will pay 630 mln dlrs to CPC International for European mills.
|
BRUSSELS - Ferruzzi says it will pay 630 mln dlrs to CPC International for European mills.
| Corporate News |
VIETNAM TO RESETTLE 300,000 ON STATE FARMS IN 1987
| Vietnam will resettle 300,000 people on
state farms known as new economic zones in 1987, to create jobs
and grow more high-value export crops, the communist party
newspaper Nhan Dan said.
Yesterday's edition, received here today, said Vietnam
would invest one billion dong, including the costs of
reloc... | Commodities and Trade |
MADAGASCAR EXTENDS AMOCO OIL EXPLORATION AGREEMENT
| Madagascar extended its oil
exploration agreement with the U.S. Firm Amoco Corp <AN> for 17
months to allow for further studies of the Morondava basin on
the southwest coast, a government statement said.
It said the existing five-year agreement, due to expire
this July 24, was extended until the end ... | Financial Reports |
FERRUZZI DEAL WITH CPC WORTH 630 MLN DLRS
| The Ferruzzi Group's holding company
Agricola Finanziara SpA will pay 630 mln dlrs for the European
corn wet milling business of CPC International Inc under the
agreement reached in principle between the two companies, a
statement by Ferruzzi released by its Brussels office said.
When CPC announced the ... | Corporate News |
SWIRE PACIFIC LTD <SWPC.HKG> YEAR 1986
| Shr "A" 138.9 H.K. Cents vs 97.4 (adjusted)
Shr "B" 27.8 cents vs 19.5
Final div "A" 44 cents vs 32.3, making 62 vs 47 (adjusted)
Final div "B" 8.8 cents vs 6.5, making 12.4 vs 9.4
Net 1.78 billion dlrs vs 1.23 billion
Turnover 16.6 billion vs 13.7 billion
Note - Net profits exclud... | Financial Reports |
BAT Industries 1986 pretax profit 1.39 billion stg vs 1.17 billion
|
BAT Industries 1986 pretax profit 1.39 billion stg vs 1.17 billion
| Financial Reports |
BAT INDUSTRIES PLC <BTI.L> 1986 YEAR
| Shr 53.51p vs 45.72p
Div 8.8p vs 7.35p making 14.3p vs 12.1p
Turnover 19.17 billion stg vs 17.05 billion
Operating profit 1.48 billion vs 1.29 billion
Pretax profit 1.39 billion vs 1.17 billion
Tax 524 mln vs 430 mln
NOTE - The company said shareholders would be given the
option ... | Financial Reports |
SWIRE PLANS BONUS ISSUE ON HIGHER 1986 PROFITS
| Swire Pacific Ltd <SWPC.HKG> said it
plans for a one-for-five bonus issue for both its "A" and "B"
shares following an earlier report of a 44.7 pct jump in 1986
net profits to 1.78 billion H.K. Dlrs.
The company also announced final dividends of 44 cents per
"A" share and 8.8 cents per "B" share agai... | Corporate News |
Japan Trade Ministry asks trade houses, exporters to reduce dlr sales, sources
|
Japan Trade Ministry asks trade houses, exporters to reduce dlr sales, sources
| Other |
SRI LANKAN GOVERNMENT TO STOP IMPORTING SUGAR
| The Food Department will no longer
import sugar from April 1, senior officials of the Food and
Cooperatives Ministry and the Department told Reuters.
They said the decision was taken after the Sugar Importers
Association asked that the sugar trade be further liberalised.
"The Food Department will ce... | Corporate News |
NEW DUTCH SPECIAL ADVANCES TOTAL 4.2 BILLION
| The Dutch Central Bank said it
allocated 4.183 billion guilders at tender for the new 5.3 pct,
nine-day special advances.
Bids were fully met for the first 200 mln guilders and for
40 pct above.
The new advances for the period March 25 to April 4,
replace current 5.3 pct, five day advances totalli... | Market and Economy |
DANISH FEBRUARY CONSUMER PRICES FALL 0.1 PCT
| Consumer prices fell 0.1 pct in
February, after a rise of 0.2 pct in January and no change in
February 1986, the National Statistics Office said.
The index, base 1980, fell to 154.5 in February from 154.6
in January, against 147.4 in February 1986, giving a
year-on-year increase of 4.8 pct.
| Financial Reports |
JAPAN ASKS TRADERS, EXPORTERS TO CUT DOLLAR SALES
| The Ministry of International Trade and
Industry (MITI) has asked about 30 Japanese trading houses and
exporters to refrain from excessive dollar selling, trading
house officials said.
The officials told Reuters MITI asked them to moderate
their foreign exchange trading because the excessive rise in
t... | Financial Reports |
MIDDLE EAST CURRENCY MARKET SEES KEY CHANGES
| Middle East currency dealers meet in
Abu Dhabi this weekend at a time of fundamental change in their
business, which has seen a growing volume of trade shift from
the Arab world to London.
The 14th congress of the Inter-Arab Cambiste Association
also comes at a time when the prospect of a unified Gulf
... | Market and Economy |
BELGOLUX TRADE SWINGS INTO JANUARY DEFICIT
| The Belgo-Luxembourg Economic Union
recorded a provisional trade deficit of 9.45 billion francs in
January after a December surplus of 15.32 billion francs,
revised upwards from a provisional surplus of 11.94 billion,
the National Statistics Office said.
In January 1986, the union recorded a deficit of ... | Market and Economy |
GUINNESS SEEKS U.K. INJUNCTION AGAINST SAUNDERS
| Guinness Plc <GUIN.L> will seek an
injunction in the U.K. High Court today to freeze the assets of
former Chairman Ernest Saunders in its attempts to recover 5.2
mln stg paid to a Jersey company as part of the company's
takeover battle for <Distillers Co Plc>, a spokesman said.
He said the court m... | Financial Reports |
BASF U.S. PROFIT,TURNOVER BOOSTED BY ACQUISITIONS
| BASF AG <BASF.F>
said net profit of its U.S. Operating company, BASF Corp, rose
last calendar year to 105 mln dlrs from 39 mln in 1985.
Turnover rose by by more than one billion dlrs to 3.6
billion, the parent company said in a statement. The rise,
however, partly reflected the inclusion of the first... | Financial Reports |
BICC PLC <BICC.L> 1986 YEAR
| Shr 22.7p vs 20.3p.
Final div 8.25p, making 11.75p vs 11p.
Pre-tax profit 101 mln stg vs 92 mln.
Attributable profit 45 mln vs 39 mln.
Turnover 2.14 billion stg vs 2.11 billion.
MORE
| Financial Reports |
TAIWAN MONEY SUPPLY RISES 48.22 PCT IN YEAR
| Taiwan's M-1B money supply rose a
seasonally adjusted 48.22 pct in the year to end-February,
after rising 54.96 pct in the year to January, a central bank
spokesman said.
Month on month, M1-B fell 5.19 pct from January.
Unadjusted February M1-B was 1,168 billion dlrs against
1,232 billion in Janua... | Financial Reports |
PEMEX SIGNS 500 MLN DLR JAPAN LOAN FOR PIPELINE
| Mexican state oil firm Petroleos Mexicanos
(Pemex) signed for a 500 mln dlruntied loan from the
Export-Import Bank of Japan to finance its Pacific Petroleum
Project, Pemex Japan representative Tito Ayal said.
No further details on the loan were immediately available.
Ayala told an oil seminar the pr... | Financial Reports |
NIPPON STEEL TO REDUCE DIVIDEND
| Nippon Steel Corp <NSTC.T> plans to
reduce its dividend to three yen in the year ending March 31
1987 from the five yen of 1985/86, a company spokesman said.
The company estimated parent company current losses at 15
billion yen in 1986/87, including a gain of 95 billion yen from
the sale of securitie... | Financial Reports |
BAT SEES STRONG PERFORMANCE FROM ALL SECTORS
| A strong performance from all BAT
Industries Plc's <BTI.L> major sectors enabled the group's 1986
pretax profits to pass the one billion stg level for the third
year running, Chairman Patrick Sheehy said in a statement.
The group earlier reported a 19 pct rise in profits to 1.39
billion, which Sheehy... | Market and Economy |
TAIWAN SEES ITS INVESTMENT IN U.S. RISING SHARPLY
| Taiwanese investment in the U.S. Is
expected to nearly double to 80 mln U.S. Dlrs in calendar 1987
and rise to 400 mln dlrs a year by 1991, a five-year forecast
by the Economic Ministry showed.
Taiwanese investment in the U.S. Last year totalled 46 mln
dlrs, the ministry document said. The investment wa... | Financial Reports |
BABCOCK INTERNATIONAL PLC <BABK.L> YEAR 1986
| Div 4.7p making 8.7, an increase of 13.9 pct
Shr 16.3p vs 17.9p adjusted
Pretax profit 37.09 mln stg vs 34.55 mln
Net 22.12 mln vs 24.13 mln
Interest payable 8.10 mln vs 5.35 mln
Share of associated co's 6.88 mln vs 5.42 mln
Turnover 1.22 billion stg vs 1.10 billion
| Financial Reports |
DELTA GROUP <DLTL.L> YEAR TO JAN 3.
| Shr net basis 24.8p vs 24.5p
Shr nil basis 22.7p vs 20.9p
Div 5p making 7.6p vs 6.5p
Pretax profit 57.78 mln stg vs 50.61 mln
Net after tax 37.47 mln vs 36.49 mln
Outside shareholders interests 1.75 mln vs 1.32 mln
Extraordinary debit 370,000 vs 1.93 mln
Turnover 533.59 mln v... | Commodities and Trade |
PLACER PACIFIC SAYS BIG BELL GOLD STUDY EXPANDING
| <Placer Pacific Ltd> said it will
undertake a full feasibility study of Western Australia's Big
Bell gold prospect.
Results of an economic evaluation of the find, in which
Placer has an option with <Australian Consolidated Minerals
Ltd> (ACM) to earn a 50 pct interest, were encouraging enough
to... | Other |
BABCOCK EXPECTS FURTHER PROGRESS IN 1987
| Babcock International Plc <BABK.L> said
in a statement accompanying final results for 1986, showing
pretax profits up to 37.09 mln stg from 34.55 mln in 1985, that
overall further progress is expected in 1987.
The predicted slowdown of the U.S. Automobile industry is
affecting the North American grou... | Commodities and Trade |
EGYPT BUYS 46,000 TONNES OF SUNFLOWERSEED OIL
| Egypt purchased 46,000 tonnes of
optional origin sunflowerseed oil at its import tender
yesterday, all for May arrival, traders said.
The business comprised 41,000 tonnes of crude sunflowerseed
oil in bulk at prices ranging from 344.25 to 348 dlrs and 5,000
tonnes of refined oil in drums at from 517.50 ... | Corporate News |
CHINA TO TIGHTEN IMPORT CONTROL, CUT EXPORT COSTS
| China should tighten imports of ordinary
goods and restrict or even forbid import of goods which can be
made domestically, Premier Zhao Ziyang said.
He told the National People's Congress, China's parliament,
that the country's foreign exchange is limited and must be used
where it is most needed.
... | Financial Reports |
WEST GERMANS TO MINT COMMUNITY ANNIVERSARY COIN
| The West German Cabinet approved a plan to
mint a special 10-mark coin commemorating the 30th anniversary
of the European Community this year.
The silver-copper alloy coin will be minted in an edition
of 8.35 mln, a Finance Ministry statement said.
| Corporate News |
SINGAPORE GDP TO GROW SIX PCT IN FIRST QUARTER
| Singapore's gross domestic product
will grow six pct in the first quarter and five pct in the
second quarter this year, with further growth expected in the
second half, Trade and Industry Minister Lee Hsien Loong told
parliament.
The figures compared with 3.4 pct contraction and 1.2 pct
growth respect... | Other |
CARGILL U.K. STRIKE TALKS TO RESUME THIS AFTERNOON
| Talks between Cargill U.K. Ltd's
management and unions, aimed at ending the prolonged strike at
its Seaforth oilseed processing plant, will resume this
afternoon, a company spokesman said.
Yesterday's session failed to reach a compromise but some
progress was made, he said.
| Financial Reports |
U.S. M-1 MONEY SUPPLY RISES 2.1 BILLION DLRS IN FEB 16 WEEK, FED SAYS
|
U.S. M-1 MONEY SUPPLY RISES 2.1 BILLION DLRS IN FEB 16 WEEK, FED SAYS
| Financial Reports |
STC PLC <STCL.L> YEAR TO END-1986
| Shr profit 15.9p vs 2.25p loss
Div 3p making 4.5p vs nil
Turnover 1.93 billion stg vs 1.99 billion
Pretax profit 134.2 mln vs 11.4 mln loss
Tax 47.2 mln vs nil
Operating profit 163.0 mln vs 92.7 mln
Interest less investment income 13.8 mln vs 37.2 mln
Exceptional debit 15.0 m... | Other |
BRITISH COMPOUND FEED PRODUCTION DETAILED
| Feed compounds, balancers and
concentrates produced in Britain in the five weeks ended
January 31 totalled 973,400 tonnes, against 966,200 tonnes
produced in the same 1986 period, Ministry of Agriculture
figures show.
However, cattle/calf feed output, the largest single
component, was 7.2 pct down at ... | Corporate News |
KLOECKNER UND CO'S 1986 PROFIT FALLS ABOUT 20 PCT
| Kloeckner & Co KGaA, the
international trading group, said its 1986 domestic group net
profit fell by around 20 pct against 1985, adding that the
profit resulted largely from a writing back of reserves.
The company, which gave no 1986 profit figures, posted a
domestic group net profit of 41 mln mark... | Other |
MIXED ASIAN REACTION TO NEW RUBBER PACT
| Governments of major Asian
producing countries have welcomed the conclusion of a new
International Natural Rubber Agreement (INRA), but growers and
traders are unhappy with the development, according to views
polled by Reuter correspondents.
Officials in Malaysia, Indonesia and Thailand, which
produce... | Corporate News |
CIBA-GEIGY, PHILLIPS PETROLEUM IN JOINT VENTURE
| Ciba-Geigy AG <CIGZ.Z> said it would
establish a joint venture with Phillips Petroleum Co. In Europe
to manufacture a high performance engineering thermoplastic.
Initially, the Swiss chemicals firm will manufacture
polyphenylene sulfide compounds using resins from Phillips.
The two firms will lat... | Other |
KRUPP TO BUILD SOUTH KOREAN STEEL PLANT
| Fried. Krupp GmbH said its
Krupp Industrietechnik GmbH subsidiary has won a 130 mln marks
joint order with Samsung Shipbuilding and Heavy Industries Co.
Ltd of Seoul for a steel works in Pohang, South Korea.
It said the order, awarded by the Pohang Iron and Steel Co.
Ltd, involves a works due to go on s... | Market and Economy |
SWIRE EXPECTS CONTINUED GROWTH THIS YEAR
| Swire Pacific Ltd <SWPC.HKG> expects
continued growth in all divisions this year though it sees
problems in the marine sector, chairman Michael Miles said.
He told reporters:"1987 has started well for Cathay Pacific
Airways which looks forward to another good year... Swire
Properties expects further ... | Corporate News |
UNCERTAINTY SURROUNDS EC SUGAR TENDER RESULT-TRADE
| Considerable uncertainty surrounds the
outcome of today's EC white sugar tender, traders here said,
noting it remains overshadowed by European operator threats to
move over 800,000 tonnes of sugar into intervention.
They said that due to the dispute between the Commission
and producers over the issue, i... | Other |
ABU DHABI TO REOPEN GULF OILFIELD HIT IN 1986 RAID
| Abu Dhabi's offshore Abu al-Bukhoosh
oilfield in the Gulf, shut since an aerial attack last
November, will reopen when new anti-aircraft defences are
ready, and this could be in the next two months, oil industry
sources said.
They said the Abu Dhabi government and Compagnie Francaise
des Petroles (Tot... | Other |
COMALCO SAYS LOWER COSTS HELPED RETURN TO PROFITS
| Comalco Ltd <CMAC.S> said its return
to profit reflected reduced costs, improved primary aluminium
prices and its withdrawal from a Japanese smelter venture.
It said the earlier reported 57.1 mln dlr profit for the
year ended December 31 against a 69.13 mln dlr loss in 1985 was
also aided by lower in... | Other |
RAINBOW LIFTS PROGRESSIVE STAKE TO 52 PCT
| <Rainbow Corp Ltd> said it has
lifted its stake in supermarket group <Progressive Enterprises
Ltd> to 52 pct from 44 pct.
It said in a statement it has bought an extra 9.4 mln
shares at prices ranging from 3.80 N.Z. Dlrs to 4.80.
Progressive is currently the subject of both a proposed
merger... | Market and Economy |
YEN MAY RISE TO 140 TO THE DLR, NIKKEIREN SAYS
| The yen could rise to 140 yen to the
dollar, a leading Japanese businessman said.
Bumpei Otsuki, president of the influential Japan
Federation of Employers' Associations, (Nikkeiren), told
reporters: "The yen might rise as far as 140 (to the dollar).
The U.S. Economy is not good, and as long as the U.S.... | Other |
JAPAN BUYS MODEST AMOUNT OF DOLLARS, DEALERS SAY
| The Bank of Japan bought a modest amount
of dollars this morning, possibly around 200 to 300 mln,
dealers said.
One dealer said the central bank bought about 200 mln dlrs
through brokers and the rest through banks. The buying began
when the dollar was at about 149.60 yen, and helped drive the
U.S. Cur... | Market and Economy |
JAPAN DOES NOT INTEND TO CUT DISCOUNT RATE-SUMITA
| Bank of Japan governor Satoshi Sumita
said the central bank has no intention of cutting its discount
rate again as a way of preventing the yen's rise.
He told a press conference that the growth of Japanese
money supply remains high.
The bank will have to watch closely various developments
resultin... | Corporate News |
U.K. MONEY MARKET FORECAST REVISED TO SHOW SURPLUS
| The Bank of England said it had revised
its forecast of the liquidity position in the money market
today to a surplus of 150 mln stg after it estimated a flat
position earlier this morning.
| Commodities and Trade |
BANK OF ENGLAND DOES NOT OPERATE IN MONEY MARKET
| The Bank of England said it had not
operated in the money market during the morning session.
Earlier, the Bank revised its forecast of the liquidity
position in the system today to a surplus of 150 mln stg from
its original estimate of a flat position.
| Industrial and Sector News |
CRA EXPECTS TO PAY FINAL DIVIDEND OF 10 CENTS
| CRA Ltd <CRAA.S> said it expected to
pay a final 1986 dividend of not less than 10 cents a share
after July 1, making 13 cents forthe year against 15 in 1985.
The mining and smelting group earlier reported 1986 net
earnings rose to 138.2 mln dlrs from 87.8 mln in 1985, against
analysts' forecasts yes... | Other |
EXCHANGE RATES ALMOST WITHIN G-6 LEVELS - SUMITA
| Bank of Japan governor Satoshi Sumita
said that current exchange rates are almost within the levels
agreed to by six major nations last month in Paris.
Asked whether a dollar/yen rate of 148 or 149 reflected
economic fundamentals, he said current rates almost reflect
fundamentals.
Sumita told repo... | Commodities and Trade |
JAPAN ASKS TRADERS, EXPORTERS TO CUT DOLLAR SALES
| The Ministry of International Trade and
Industry (MITI) has asked about 30 Japanese trading houses and
exporters to refrain from excessive dollar selling, trading
house officials said.
The officials told Reuters MITI asked them to moderate
their foreign exchange trading because the excessive rise in
t... | Corporate News |
CENTRAL BANKS BUY DOLLARS FOR YEN IN LONDON
| The Bank of Japan intervened to stem
strong yen rises against the dollar during London trading this
morning, dealers said.
The Bank of Japan here declined comment.
The Bank of England was also rumored to be buying dollars
against the yen this morning but it also declined comment.
Dealers said ... | Commodities and Trade |
25-MAR-1987
| 25-MAR-1987
| Other |
OCEAN TRANSPORT AND TRADING PLC <OTTL.L> YEAR 1986
| Shr net basis 21.4p vs 17.5p
Div 6.1p making 9p vs 6.5p
Pretax profit 37.2 mln stg vs 31.9 mln
Net after tax 25.7 mln vs 20.3 mln
Minority interest 700,000 vs 1.1 mln
Extraordinary debit 1.9 mln vs 3.5 mln
Turnover 827 mln vs 766.9 mln
Note - The company said the sale of the ... | Other |
DART GROUP RAISES SUPERMARKETS GENERAL <SGL> BID
| <Dart Group Corp> said it has
raised its offer to acquire Supermarkets General Corp to 42.00
dlrs in cash and three dlrs in exchangeable preferred stock per
Supermarkets General share from 41.75 dlrs per share in cash.
The company said it would also be willing to negotiate a
plan with the Supermarket... | Commodities and Trade |
OLSON INDUSTRIES INC <OLSN> 4TH QTR NET
| Oper shr 28 cts vs 1.16 dlrs
Oper net 194,000 vs 1,255,000
Sales 27.5 mln vs 30.5 mln
Year
Oper shr 2.68 dlrs vs 63 cts
Oper net 1,880,000 vs 684,000
Sales 100.5 mln vs 115.6 mln
Avg shrs 700,086 vs 1,079,165
NOTE: 1986 net excludes tax credits of 1,042,000 dlrs in
qu... | Financial Reports |
OLSON <OLSN> TO HAVE LOSS FROM EGG UNIT SALE
| Olson Industries Inc said
it is in final negotiations on the sale of its remaining egg
operations and expects the sale to generate a charge of about
two mln dlrs against 1987 net income.
The company said, however, that the sale will generate
substantial cash flow to pay off bank debt and improve working... | Commodities and Trade |
E.D. And F. MAN TO BUY INTO HONG KONG FIRM
| The U.K. Based commodity house E.D.
And F. Man Ltd and Singapore's Yeo Hiap Seng Ltd jointly
announced that Man will buy a substantial stake in Yeo's 71.1
pct held unit, Yeo Hiap Seng Enterprises Ltd.
Man will develop the locally listed soft drinks
manufacturer into a securities and commodities brokerag... | Commodities and Trade |
ORACLE CORP <ORCL> 3RD QTR FEB 28 NET
| Shr 16 cts vs eight cts
Net 4,834,000 vs 2,052,000
Revs 34.9 mln vs 16.0 mln
Avg shrs 31.1 mln vs 26.8 mln
Nine mths
Shr 26 cts vs 13 cts
Net 8,006,000 vs 3,310,000
Revs 80.9 mln vs 34.5 mln
Avg shrs 30.8 mln vs 26.3 mln
NOTE: Share adjusted for two for one stock ... | Other |
ENTERRA CORP <EN> 4TH QTR LOSS
| Shr loss 4.14 dlrs vs loss 19 cts
Net loss 37.1 mln vs loss 1,712,000
Revs 27.3 mln vs 33.4 mln
Year
Shr loss 5.51 dlrs vs loss 73 cts
Net loss 49.3 mln vs loss 6,544,000
Revs 109.0 mln vs 141.9 mln
NOTE: 1986 net both periods includes 34.8 mln dlr
weritedown of assets of s... | Financial Reports |
JOHNSTOWN/CONSOLIDATED REALTY TRUST <JCT> NET
| 4th qtr
Shr 15 cts vs eight cts
Net 1,800,000 vs one mln
Year
Shr 51 cts vs 1.10 dlrs
Net 6,200,000 vs 13.2 mln
NOTE: Net includes loan loss provisions of 14 cts shr vs 18
cts in quarter and 24 cts shr vs 36 cts in year.
| Corporate News |
DURIRON <DURI> COMPLETES VALTEK <VALT> PURCHASE
| Duriron Co Inc said it has
completed the acquisition of Valtek Inc for 11.75 dlrs per
share following Valtek shareholder approval yesterday.
| Other |
SWISS CAPITAL EXPORTS RISE IN JANUARY
| Swiss capital exports rose to 4.64
billion francs in January after 2.54 billion in December and a
year earlier 3.64 billion, the Swiss National Bank said.
New bond issues accounted for 4.12 billion of the total
after December's 2.15 billion, and credits 525.1 mln after
389.9 mln.
In January 1985, ... | Other |
WASHINGTON FEDERAL SAVINGS <WFSL> QUARTERLY DIV
| Qtly div 17 cts vs 17 cts
Pay April 24
Record April 7
Note: year ago adjusted to reflect March 19 three-for-two
stock split.
(Washington Federal Savings and Loans Association)
| Other |
ROWLEY-SCHER <RSCH> TO HAVE LOSS FOR YEAR
| Rowley-Scher Reprographics Inc
said it expects to report an operating loss and a loss from the
sale of its Mid South Repro subsidiary for the year ending
MArch 31.
Last year, the company reported earnings of 977,000 dlrs.
Rowley-Scher did not disclose details of the sale of Mid
South Repro.
... | Corporate News |
DIXONS SAID IT GOT AND ACCEPTED ONLY 20 PCT OF CYCLOPS SHARES IN TENDER
|
DIXONS SAID IT GOT AND ACCEPTED ONLY 20 PCT OF CYCLOPS SHARES IN TENDER
| Commodities and Trade |
DIXONS GETS ONLY 20 PCT OF CYCLOPS <CYL> IN BID
| <Dixons Group PLC> said only about
852,000 shares of Cyclops Corp common stock, or 20 pct on a
fully diluted basis, were tendered and not withdrawn under its
bid for all shares that expired yesterday, but the companmy has
still decided to accept all shares validly tendered.
The company said it now ha... | Corporate News |
CHINA CALLS FOR BETTER TRADE DEAL WITH U.S.
| China called on the United States to
remove curbs on its exports, to give it favourable trading
status and ease restrictions on exports of high technology.
But the U.S. Embassy replied that Chinese figures showing
13 years of trade deficits with the U.S. Out of the last 15 are
inaccurate and said Peking... | Corporate News |
KAUFMAN AND BROAD HOME CORP <KBH> 1ST QTR FEB 28
| Shr 17 cts vs seven cts
Net 4,678,000 vs 1,856,000
Revs 110.5 mln vs 61.7 mln
Avg shrs 27.0 mln vs 25.0 mln
| Commodities and Trade |
RENOUF HAS 93.4 PCT OF BENEQUITY <BH> UNITS
| <Renouf Corp International> said it
now owns 93.4 pct of Benequity Holdings a California Limited
Partnership.
Renouf said it has accepted for payment all 3,914,968
units of Benequity Holdings tendered in response to its 31 dlrs
per unit offer. Along with the 1,449,550 units already held by
Renouf,... | Corporate News |
OIL ANALYST SEES PAPUA NEW GUINEA AS GOOD PROSPECT
| Papua New Guinea
(PNG) provides the most exciting new prospect in the
Asia-Pacific region for oil production, energy analyst Fereidun
Fesharaki said here.
The recent successful find at Iagifu is likely to put PNG
on the list of major oil exporters by the early 1990s, he told
the Australian Petroleum E... | Financial Reports |
USAIR GROUP INC <U> SETS QUARTERLY
| Qtly div three cts vs three cts prior
Pay April 30
Record April 16
| Corporate News |
MCFARLAND <MCFE> TO BUY PETROMINERALS <PTRO>
| McFarland Energy Inc
said its board and that of Petrominerals Corp have approved a
definitive agreement for McFarland to acquire Petrominerals in
an exchange of stock.
McFarland said it would exchange one common share for each
5.4 Petrominerals shares. McFarland said former holders of
Petrominerals w... | Other |
TIMMINCO ACQUIRES UNIVERSAL ADHESIVES
| <Timminco Ltd> said it acquired
Universal Adhesives Inc, of Memphis, for undisclosed terms, in
a move to expand Timminco's operations into the United States.
The company said Universal Adhesives, with five U.S.
plants, has annual sales of 12 mln U.S. dlrs, which will double
Timminco's presence in the... | Commodities and Trade |
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