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German February trade surplus 10.4 billion marks (Jan surplus 7.2 billion) - official
|
German February trade surplus 10.4 billion marks (Jan surplus 7.2 billion) - official
| Commodities and Trade |
GERMAN CURRENT ACCOUNT SURPLUS WIDENS IN FEBRUARY
| West Germany's current account
surplus widened to a provisional 6.6 billion marks in February
from a slightly downwards revised 4.8 billion in January, a
spokeswoman for the Federal Statistics Office said.
The trade surplus in February widened to a provisional 10.4
billion marks from 7.2 billion in Janu... | Market and Economy |
KEATING REVISES DOWN AUSTRALIAN GROWTH FORECAST
| Treasurer Paul Keating forecast
economic growth at slightly under two pct in the financial year
ending June this year, down from the 2.25 pct forecast
contained in the 1986/87 budget delivered last August.
Australia's terms of trade also fell, by 18 pct, over the
past two years, he told Parliament. Term... | Market and Economy |
TAIWAN'S SAVINGS AT RECORD HIGH
| Taiwan has over one trillion Taiwan dlrs
in savings, official statistics show.
Figures released yesterday show all forms of savings by
individuals and public and private firms, including bank
deposits, certificates of deposits and bond's, are running at
about 37 pct of gross national product (GNP).
... | Market and Economy |
SHORT-DATED SAUDI RIYAL RATES FIRM IN QUIET MARKET
| Short-dated Saudi riyal interest rates
firmed but other rates were steady in quiet trading, dealers
said.
"Day-to-day money is a bit tighter," one trader said.
Overnight rose two points to six pct, while most quotes for
tomorrow/next and spot/next were 1/2 point higher at around
six, 5-1/2 pct.
... | Commodities and Trade |
JAPAN BEEF PRICE SUPPORT CUT WILL NOT RAISE DEMAND
| Japan's plan to cut beef intervention
prices for the fiscal year starting April 1 will not boost
demand because of strict supply controls and a complex
distribution system, Japanese and U.S. Industry sources said.
"Government beef policy protects farmers rather than meeting
consumers' demands and the cu... | Financial Reports |
FOREIGN FIRMS HOPE TO JOIN JAPAN TELECOM COMPANY
| One of two rival firms seeking to enter
Japan's international telecommunications market said it will
offer a stake in the company to 10 foreign firms.
President of <International Telecom Japan Inc> (ITJ), Nobuo
Ito, decline to specify what share the firms would take, but
told Reuters they would not p... | Commodities and Trade |
U.K. OILMEAL/VEG OIL PRODUCTION ROSE IN 1986
| The U.K. Produced 820,400 tonnes of
oilcake and meal and 431,000 tonnes of crude vegetable oil in
calendar 1986, Ministry of Agriculture figures show.
They compare with 785,800 tonnes of oilcake and meal and
407,400 tonnes of crude vegetable oil produced in 1985.
Total oilseeds crushed rose to 1.27 ... | Corporate News |
BURLINGTON COAT FACTORY WAREHOUSE CORP <BCF> NET
| Jan 31 end
Shr 1.40 dlrs vs 1.10 dlrs
Net 16.4 mln vs 12.9 mln
Revs 196.2 mln vs 157.5 mln
| Corporate News |
SIEMENS SEES SALES NEAR 52 BILLION MARKS THIS YEAR
| World group turnover of Siemens AG
<SIEG.F> should rise to 51 or 52 billion marks in the current
year to September 31 after a 19 pct upturn in the first five
months, management board chairman Karlheinz Kaske said.
Siemens reported world group turnover in 1985/86 of 47.02
billion marks.
Kaske to... | Corporate News |
KRUPP HAS SATISFACTORY 1986 RESULTS
| The Fried. Krupp GmbH
<KRPG.D> steel and engineering group said it had a satisfactory
1986 despite a provisional 12 pct fall in total group sales to
18.1 billion marks from 20.7 billion the previous year.
Third party turnover declined to 15.9 billion from 18.5
billion in 1985 while orders slipped to ... | Other |
NO PESSIMISM FOR GERMAN EXPORTERS, MINISTRY
| Firms need not be pessimistic about export
prospects even though foreign markets have become more
difficult because of the mark's strength the Economics Ministry
said.
The ministry's parliamentary state secretary Ludolf Georg
von Wartenberg, told a business conference German exports could
start risin... | Market and Economy |
MONETARY AUTHORITIES SAID TO LOSE CREDIBILITY
| The monetary authorities of the major
industrialised countries lost their credibility this week as
the dollar was sold off despite pleas from ministers and
widespread central bank intervention, dealers said.
The dollar's fall below 150 yen, which follows last month's
Paris currency stabilisation agreeme... | Financial Reports |
UK FEB TRADE DEFICIT 224 MLN STG VS DEFICIT 527 MLN IN JAN - OFFICIAL.
|
UK FEB TRADE DEFICIT 224 MLN STG VS DEFICIT 527 MLN IN JAN - OFFICIAL.
| Financial Reports |
U.K. FEB CUURENT ACCOUNT SURPLUS 376 MLN STG VS JAN SURPLUS 73 MLN - OFFICIAL.
|
U.K. FEB CUURENT ACCOUNT SURPLUS 376 MLN STG VS JAN SURPLUS 73 MLN - OFFICIAL.
| Corporate News |
MALAYSIAN CENTRAL BANK SEES HIGHER 1987 GROWTH
| Gross domestic product (GDP)
growth in 1987 is expected to grow by between 1.5 and two pct,
up from one pct in 1986, the central bank said.
The forecast compares with the one pct GDP growth forecast
made by the Treasury last October.
Bank Negara also said in its annual report that gross
national p... | Financial Reports |
COFFEE PRICE FALL SHORT TERM - DUTCH ROASTERS
| This morning's sharp decline in coffee
prices, following the breakdown late last night of negotiations
in London to reintroduce International Coffee Organization,
ICO, quotas, will be short-lived, Dutch roasters said.
"The fall is a technical and emotional reaction to the
failure to agree on reintroduct... | Market and Economy |
U.K. VISIBLE TRADE DEFICIT NARROWS IN FEBRUARY
| Britain's visible trade deficit narrowed
to a seasonally adjusted provisional 224 mln stg in February
from 527 mln in January, The Trade and Industry Department
said.
The current account balance of payments in February showed
a seasonally adjusted provisional surplus of 376 mln stg
compared with a sur... | Other |
LUCAS SEES CONTINUED GROWTH IN SECOND HALF
| Lucas Industries Plc <LUCS.L> said its
underlying performance would continue to improve in the second
half but profits would be restrained by low activity in U.K.
Commercial vehicle and tractor markets as well as in North
American electronics.
The company earlier reported a two mln stg rise in pretax... | Other |
IWC ups Soviet grain 1986/87 import estimate three mln tonnes to 29 mln - official
|
IWC ups Soviet grain 1986/87 import estimate three mln tonnes to 29 mln - official
| Market and Economy |
IWC lifts 1986/87 world wheat, coarse grain estimate one mln tonnes to record 1,377 mln
|
IWC lifts 1986/87 world wheat, coarse grain estimate one mln tonnes to record 1,377 mln
| Market and Economy |
TRADE SURPLUS CUT WOULD BENEFIT JAPAN - SUMITA
| Bank of Japan Governor Satoshi Sumita
said it is in Japan's national interest to make greater efforts
to reduce its trade surplus.
He told business executives the most important issues for
the world economy are the correction of international trade
imbalances and a solution to the world debt problem.
... | Corporate News |
COMMISSION APPROVES RAINBOW/PROGRESSIVE MERGER
| The Commerce Commission has approved
a proposed merger between <Progressive Enterprises Ltd> and
<Rainbow Corp Ltd>, Rainbow said in a statement.
The merger involves the formation of a new company <Astral
Pacific Corp Ltd> which will acquire all shares in both
companies on a one-for-one share e... | Corporate News |
GREENWOOD RESOURCES <GRRL> SELLS COMPANY STAKE
| Greenwood Resources Inc said it has sold
its 4,300,000 common share majority holding in <New London Oil
Ltd> of London to an affiliate of <Guinness Peat Group PLC> of
London and an affiliate of <Sidro SA> of Belgium for a total of
1,700,0000 dlrs in cash.
The company said it will apply the proc... | Commodities and Trade |
U.K. MONEY MARKET FORECAST REVISED TO DEFICIT
| The Bank of England said it revised its
estimate of today's money market shortfall to around 350 mln
stg from a flat position.
| Financial Reports |
IWC LIFTS WORLD GRAIN OUTPUT ESTIMATE TO RECORD
| The International Wheat Council (IWC)
lifted its estimate for 1986/87 world wheat and coarse grain
production by one mln tonnes to a record 1,377 mln, compared
with 1,351 mln tonnes the previous season.
In its monthly market report, the IWC said it is leaving
unchanged its forecast of world wheat produc... | Corporate News |
BANK OF JAPAN BUYS SMALL QUANTITY DOLLARS -DEALERS
| The Bank of Japan was thought to have
bought a small amount of dollars at around 149.30/40 yen,
dealers said.
The dollar fluctuated marginally after the small-scale
intervention, believed to total several tens of mlns of dlrs,
they said. Large-scale buying by foreign banks or by a life
insurance compa... | Market and Economy |
U.K. TRADE FIGURES BUOY HOPES OF INTEREST RATE CUT
| The release of U.K. February trade data
showing that the current account surplus was a provisional 376
mln stg, up from a 73 mln surplus in January, has boosted hopes
of an early cut in interest rates, analysts said.
Market forecasts had been for a worse outcome, with
expectations of a deficit in visibl... | Market and Economy |
GERMAN NET CURRENCY RESERVES RISE
| West German net currency reserves
rose by 300 mln marks in the third week of March to 82.0
billion, following a fall of 5.4 billion marks in the previous
week, the Bundesbank said.
Non-currency reserves were unchanged at about 2.5 billion
marks, bringing net monetary reserves to 84.5 billion.
| Corporate News |
CURRENCY EXCHANGE LOSS PUSHES MALAYSIA'S DEBT UP
| An exchange loss of 7.6 billion
ringgit in 1986 pushed Malaysia's outstanding external debt up
to 50.99 billion ringgit, from 1985's 42.3 billion, the Central
Bank said in its annual report.
Bank Negara said although Malaysia's net borrowing dropped
in 1986, its external debt rose due to the 30 pct appr... | Corporate News |
IWC SAYS EFFECT OF LOWER SUPPORT PRICES LIMITED
| Efforts by governments to control wheat
surpluses by cutting support prices have met with only partial
success, the International Wheat Council (IWC) says in its
latest monthly report.
Faster results could be achieved by a policy of reducing
both price and areas, as employed in the United States, the IW... | Corporate News |
U.S. TREASURY'S BAKER OPPOSES TAX INCREASE
| U.S. Treasury Secretary James Baker
said that he opposes a Federal tax increase to help reduce the
budget deficit and favors spending cuts instead.
"I don't think it's (a tax increase) is a very good idea
and I'm quite confident that President Reagan doesn't think
it's a very good idea," Baker said in a... | Financial Reports |
TREASURY'S BAKER SAYS HE STANDS BY PARIS PACT
| Treasury Secretary James Baker said
he stood by the Paris agreement among leading industrial
nations to foster exchange rate stability around current
levels.
"I would refer you to the Paris agreement which was a
recognition the currencies were within ranges broadly
consistent with economic fundamental... | Financial Reports |
GERMAN ANALYSTS SEE GOLD RISING IN 2ND HALF 1987
| The price of gold bullion is likely
to rise in the second half of the year on increased private
investor demand, West German analysts said.
Gold could rise as high as 500 dlrs per ounce later this
year, said Peter Witte, director of Westdeutsche Landesbank
Girozentrale's trading division, after a presen... | Financial Reports |
CORADIAN CORP <CDIN> 4TH QTR NET
| Shr profit three cts vs loss three cts
Net profit 363,000 vs loss 197,000
Revs 3,761,000 vs 2,666,000
Year
Shr profit one cent vs loss 37 cts
Net profit 129,000 vs loss 1,715,000
Revs 11.4 mln vs 10.9 mln
Avg shrs 10,694,081 vs 4,673,253
| Corporate News |
GULF ESCORTS STILL UNDER DISCUSSION - WEINBERGER
| No action has been taken yet
on the Reagan Adminstration's offer to escort Kuwaiti oil
tankers through the Gulf, but the issue is being discussed,
U.S. Secretary of Defence Caspar Weinberger said.
The offer was made to Kuwait in light of Iran's deployment
of Chinese-built missiles to cover the entrance ... | Financial Reports |
FIRST INTERSTATE <I> ESTIMATES LOSS ON BRAZIL
| First Interstate Bancorp Chairman
Joseph Pinola said the bank holding company would lose about 16
mln dlrs per year, after taxes, if it had to put its medium and
long-term debt on non-accrual status.
In an interview, he said that could result in about a 4.5
pct decline in annual earnings per share.
... | Other |
FRENCH UNEMPLOYMENT RISES TO SEASONALLY ADJUSTED 2.65 MLN IN FEBRUARY - OFFICIAL
|
FRENCH UNEMPLOYMENT RISES TO SEASONALLY ADJUSTED 2.65 MLN IN FEBRUARY - OFFICIAL
| Commodities and Trade |
MICKELBERRY CORP <MBC> 4TH QTR NET
| Shr profit 61 cts vs loss 45 cts
Net profit 3,568,000 vs loss 2,598,000
Revs 34.6 mln vs 31.6 mln
Avg shrs 5,861,000 vs 5,776,000
Year
Shr profit 56 cts vs loss 32 cts
Net profit 3,374,000 vs loss 1,759,000
Revs 132.0 mln vs 131.6 mln
NOTE: 1985 quarter net includes 665... | Corporate News |
MICKELBERRY <MBC> COMPLETES SALE OF UNIT
| Mickelberry Corp said it has completed
the previously-announced sale of the 51 pct of its C and W
Group subsidiary that it had retained to N W Ayer Inc for
undisclosed terms.
Ayer bought the other 49 pct next year.
Mickelberry said it will report a gain on the transaction.
| Commodities and Trade |
F.W. WOOLWORTH CO 4TH QTR SHR 1.78 DLRS VS 1.64 DLRS
|
F.W. WOOLWORTH CO 4TH QTR SHR 1.78 DLRS VS 1.64 DLRS
| Corporate News |
FLUOROCARBON CO <FCBN> 4TH QTR JAN 31 NET
| Shr 26 cts vs 24 cts
Net 1,144,000 vs 1,063,000
Sales 23.2 mln vs 24.8 mln
Year
Shr 93 cts vs 1.40 dlrs
Net 4,046,000 vs 6,111,000
Sales 97.8 mln vs 104.0 mln
NOTE: Prior year net includes gain 286,000 dlrs from
discontinued operations in year and loss 375,000 in quarter an... | Corporate News |
FRENCH FEBRUARY UNEMPLOYMENT HITS RECORD 2.65 MLN
| French unemployment rose to a record
seasonally adjusted 2.65 mln in February from 2.61 mln in
January and 2.57 mln at the end of last year, the Labour
Ministry said.
The rise took the percentage of the workforce out of a job
to 11.0 pct last month from 10.9 pct in January and 10.7 pct at
the end of 1... | Corporate News |
PHILIPS ELECTRICAL SELLS STAKE IN UNIDARE
| <Philips Electrical (Ireland) Ltd> has
arranged the sale of the one mln ordinary shares it holds in
its subsidiary <Unidare Aluminium Ltd>, Unidare said.
The placing has been arranged through <Allied Irish
Investment Bank Plc> at an ex-dividend price of 371 Irish pence
per share.
| Financial Reports |
AMERICAN MEDICAL INTERNATIONAL INC 2ND QTR SHR PROFIT 32 CTS VS LOSS 95 CTS
|
AMERICAN MEDICAL INTERNATIONAL INC 2ND QTR SHR PROFIT 32 CTS VS LOSS 95 CTS
| Financial Reports |
BAKER SEES 15 TO 20 BILLION DLR DROP IN TRADE GAP
| Treasury Secretary James Baker said
he expected the U.S. Trade deficit to fall by 15 billion to 20
billion dlrs in 1987.
Commenting on the deficit during an interview on Cable News
Network, Baker said "I think you're going to see a 15 to 20
billion dlr reduction this year." The deficit was 170 billion
... | Corporate News |
AMERICAN MEDICAL INTERNATIONAL INC <AMI> NET
| 2nd qtr
Shr profit 32 cts vs loss 95 cts
Net profit 28.0 mln vs loss 82.2 mln
Revs 950.2 mln vs 862.0 mln
1st half
Shr profit 65 cts vs loss 62 cts
Net profit 56.6 mln vs loss 53.5 mln
Revs 1.88 billion vs 1.67 billion
Avg shrs 92.2 mln vs 86.7 mln
NOTE: Period en... | Corporate News |
HEINZ INTERESTED IN BUYING GUINNESS BREWING
| H.J. Heinz <HNZ.N> chairman Tony O'Reilly
would be interested in buying Guinness PLC <GUIN.L>'s brewery
division if it were for sale, a spokesman said.
The spokesman, reacting to Irish and British press reports,
said "He continues to be interested were the group to offer the
brewery side of Guinne... | Financial Reports |
U.K. VISIBLE TRADE DEFICIT NARROWS IN FEBRUARY
| Britain's visible trade deficit narrowed
to a seasonally adjusted provisional 224 mln stg in February
from 527 mln in January, The Trade and Industry Department
said.
The current account balance of payments in February showed
a seasonally adjusted provisional surplus of 376 mln stg
compared with a sur... | Financial Reports |
FRENCH RESERVES FALL ON DEBT REPAYMENT
| French reserves fell in the week ended
March 19 following repayment of the bulk of the debt contracted
during January with the European Monetary Cooperation Fund, the
Bank of France said in its weekly statement.
The repayment of capital and interest on this loan, taken
out during the strong pressure on ... | Market and Economy |
FOOTE MINERAL CO IN LETTER OF INTENT TO MERGE INTO RIO TINTO-ZINC
|
FOOTE MINERAL CO IN LETTER OF INTENT TO MERGE INTO RIO TINTO-ZINC
| Corporate News |
German March cost of living 0.2 pct below year ago (Feb 0.5 pct below) - official
|
German March cost of living 0.2 pct below year ago (Feb 0.5 pct below) - official
| Corporate News |
<TRIZEC CORP LTD> 1ST QTR JAN 31 NET
| Shr 12 cts vs 10 cts
Net 19.6 mln vs 17.6 mln
Revs 276 mln vs 170.4 mln
Avg shrs 85.3 mln vs 84.8 mln
NOTE: Company owns 65 pct of <Bramalea Ltd>.
| Industrial and Sector News |
BOSTON EDISON CO <BSE> REGULAR DIVIDEND
| Qtly div 44.5 cts vs 44.5 cts in prior qtr
Payable May one
Record April 10
| Commodities and Trade |
GERMAN COST OF LIVING FALLS IN MARCH ON YEAR-AGO
| The cost of living in West Germany
was provisionally unchanged in March compared with February but
fell 0.2 pct against March 1986, the Federal Statistics Office
said.
In February the cost of living rose 0.1 pct from January
but fell 0.5 pct compared with February 1986.
The office said final figur... | Financial Reports |
EQUATORIAL COMMUNICATIONS <EQUA> TO HAVE LOSSES
| Equatorial Communications
Co said it expects to report losses of about 57 mln dlrs for
the fourth quarter and 68 mln dlrs for the full year 1986 on
revenues of about 10 mln dlrs for the quarter and 52 mln dlrs
for the year.
Equatorial said the losses will include a charge of about
45 mln dlrs from cos... | Market and Economy |
FOOTE MINERAL <FTE> TO MERGE INTO RIO TINTO
| Foote Mineral Co said it has signed
a letter of intent to merge into <Rio Tinto-Zinc Corp PLC> for
cash.
The company said at the time of the acquisition, its assets
will include only lithium and ferrosilicon operations. Foote,
which is 83 pct owned by Newmont Mining Corp <NEM>, has signed
a lett... | Corporate News |
U.S. FIRST TIME JOBLESS CLAIMS ROSE IN WEEK
| New applications for unemployment
insurance benefits rose to a seasonally adjusted 341,000 in the
week ended March 14 from 340,000 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 2,454,000 in the week ended
March 7, th... | Financial Reports |
HONG KONG FEBRUARY TRADE SWINGS INTO DEFICIT
| Hong Kong recorded a 3.51 billion
H.K. Dlr deficit in February after a 2.54 billion dlr surplus
in January as imports climbed and exports slid, the Census and
Statistics Department said.
The deficit compared with a deficit of 1.76 billion dlrs in
February 1986.
Imports rose to 24.12 billion dlrs, ... | Financial Reports |
BEST PRODUCTS CO INC 4TH QTR SHR 1.44 DLRS VS 83 CTS
|
BEST PRODUCTS CO INC 4TH QTR SHR 1.44 DLRS VS 83 CTS
| Financial Reports |
BEST PRODUCTS CO <BES> 4TH QTR JAN 31 NET
| Shr profit 1.44 dlrs vs profit 83 cts
Net profit 39.0 mln vs profit 22.5 mln
Sales 816.1 mln vs 865.3 mln
Year
Shr loss 95 cts vs profit eight cts
Net loss 25.6 mln vs profit 2,223,000
Sales 2,142,118 vs 2,234,768
NOTE: Current year net both periods includes prtax
provision... | Financial Reports |
TRANSAMERICA <TA> TO HAVE AUSTRALIAN SALE GAIN
| Transamerica Corp said it will have
an after-tax gain of about 10 mln U.S. dlrs on the sale of its
Occidental Life Insurance Co of Australia Ltd affiliate to
<Pratt and Co Financial Services Pty Ltd> of Melbourne for 105
mln Australian dlrs.
The sale was announced earlier today in Australia. Proceeds... | Other |
BANK OF SPAIN PROVIDES YEAR RECORD ASSISTANCE FUNDS
| The Bank of Spain provided 1,145 billion
pesetas in assistance funds which bankers said reflected fears
of fresh increases in overnight rates.
The daily auction was the biggest of the year and comes
after the previous record set last June 6 of 1,240 billion
pesetas.
A spokesman for one of Spain to... | Corporate News |
ETHYL CORP <EY> UNITS COMPLETE ACQUISITON
| Ethyl Corp said its subsidiaries
completed the acquisiton of Nelson Research and Development Co
<NELR>.
The merger was approved following completion on Jan 27 of a
tender offer valued at approximately 55 mln dlrs, the company
said.
It added that Nelson, based in Irvine, Calif., will be
operat... | Financial Reports |
BRITISH POLITICIANS URGE JAPAN TRADE SANCTIONS
| One hundred members of Britain's ruling
Conservative Party have signed a motion calling for trade
sanctions against Japan to force Tokyo to open its domestic
market to British goods.
The government announced last week that Japan had a 5.9
billion dlr trade surplus with Britain in 1986.
The Departm... | Financial Reports |
U.K. TRADE FIGURES BUOY HOPES OF INTEREST RATE CUT
| The release of U.K. February trade data
showing that the current account surplus was a provisional 376
mln stg, up from a 73 mln surplus in January, has boosted hopes
of an early cut in interest rates, analysts said.
Market forecasts had been for a worse outcome, with
expectations of a deficit in visibl... | Commodities and Trade |
S. KOREA MAY BUY U.S. OIL TO AID TRADE BALANCE
| South Korea is studying a plan to buy
more coal from the United States and to start importing Alaskan
crude oil to help reduce its huge trade surplus with the United
States, Energy Ministry officials said today.
They said the plan would dominate discussions at two-day
energy talks between officials of t... | Financial Reports |
VIACOM INTERNATIONAL INC GETS ANOTHER NEW NATIONAL AMUSEMENTS BID
|
VIACOM INTERNATIONAL INC GETS ANOTHER NEW NATIONAL AMUSEMENTS BID
| Corporate News |
BP <BP> TO HOLD NEW YORK PRESS CONFERENCE
| British Petroleum Co PLC said it has
scheduled a New York press conference for 1300 EST/1800 gmt
today at which senior management will discuss the company's
proposed acquisition of the 45 pct of Standard Oil Co <SRD>
that it does not already own for 70 dlrs per share.
The offer is worth about 7.4 bil... | Financial Reports |
U.S. TREASURY'S MULFORD REAFFIRMS G-6 PACT TO FOSTER CURRENCY STABILITY AROUND CURRENT LEVELS
|
U.S. TREASURY'S MULFORD REAFFIRMS G-6 PACT TO FOSTER CURRENCY STABILITY AROUND CURRENT LEVELS
| Financial Reports |
TREASURY'S MULFORD SAYS G-6 HAS NO CURRENCY TARGET ZONES, RANGES
|
TREASURY'S MULFORD SAYS G-6 HAS NO CURRENCY TARGET ZONES, RANGES
| Commodities and Trade |
GERMAN ANALYSTS SEE GOLD FIRMING LATER THIS YEAR
| The price of gold bullion is likely
to rise in the second half of the year on increased private
investor demand, West German analysts said.
Gold could rise as high as 500 dlrs per ounce later this
year, said Peter Witte, director of Westdeutsche Landesbank
Girozentrale's trading division, after a presen... | Other |
U.K. MONEY MARKET RECEIVES 226 MLN STG ASSISTANCE
| The Bank of England said it operated in
the money market this afternoon, buying 226 mln stg in bills.
In band one, the central bank bought 37 mln stg treasury
bills and 72 mln stg bank bills at 9-7/8 pct together with 117
mln stg band two bank bills at 9-13/16 pct.
This brings total money market hel... | Commodities and Trade |
BANK OF FRANCE LEAVES MONEY MARKET INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
|
BANK OF FRANCE LEAVES MONEY MARKET INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
| Corporate News |
MCO <MCO>, MAXXAM <MXM> HOLDERS APPROVE MERGER
| MCO Holdings Inc said its
shareholders and those of MAXXAM Group Inc have approved the
proposed merger of the two companies.
MCO said one MAXXAM shareholder has filed an objection to
the proposed settlement of shareholder actions related to the
merger in the Delaware Court of Chancery. A hearing on the
... | Financial Reports |
F.W. WOOLWORTH CO <Z> 4TH QTR JAN 31 NET
| Shr 1.78 dlrs vs 1.64 dlrs
Net 117 mln vs 106 mln
Sales 2.02 billion vs 1.85 billion
Avg shrs 65.6 mln vs 63.9 mln
Year
Shr 3.25 dlrs vs 2.75 dlrs
Net 214 mln vs 177 mln
Sales 6.50 billion vs 5.96 billion
Avg shrs 65.6 mln vs 63.9 mln
NOTE: Share data restated to ... | Commodities and Trade |
PRICE CO <PCLB> 2ND QTR MARCH 15 NET
| Shr 34 cts vs 29 cts
Net 16.7 mln vs 13.3 mln
Sales 678.7 mln vs 531.0 mln
Avg shrs 48.9 mln vs 45.8 mln
1st half
Shr 81 cts vs 69 cts
Net 39.5 mln vs 31.7 mln
Sales 1.71 billion vs 1.35 billion
Avg shrs 48.9 mln vs 45.8 mln
NOTE: Twelve and 28-week periods.
| Financial Reports |
CAROLIAN SYSTEMS SEES LOWER FISCAL 1987 PROFIT
| <Carolian Systems International Inc>
said it anticipates profit for fiscal 1987 ending June 30 will
be lower than fiscal 1986 earnings of 410,000 dlrs, despite an
expected revenue increase of 37 pct to more than 3.5 mln dlrs.
After an extraordinary expense associated with the
December, 1986 withdrawa... | Corporate News |
BANK OF FRANCE BUYS DOLLARS, SELLS YEN - DEALERS
|
BANK OF FRANCE BUYS DOLLARS, SELLS YEN - DEALERS
| Commodities and Trade |
U.S TREASURY'S MULFORD REAFFIRMS G-6 AGREEMENT
| Treasury Assistant Secretary David
Mulford reaffirmed U.S. backing for the Paris Agreement among
six industrial nations to cooperate closely to foster exchange
rate stability around current levels.
In testimony prepared for delivery before a Senate banking
subcommittee, Mulford said there was broad reco... | Financial Reports |
FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED
| French operators have requested licences
to export 675,500 tonnes of maize, 245,000 tonnes of barley,
22,000 tonnes of soft bread wheat and 20,000 tonnes of feed
wheat at today's European Community tender, traders said.
Rebates requested ranged from 127.75 to 132.50 European
Currency Units a tonne for m... | Financial Reports |
U.S. GOLD EAGLE SALES PROJECTED AT 3.1 MLN OUNCES
| American Eagle gold bullion coin
sales are projected at 3.1 mln troy ounces in their first year
on the market, well above the target of 2.2 mln, Donna Pope,
director of the U.S. Mint, told journalists.
World sales, which began on October 20, 1986, reached 2.193
mln ounces in less than six months of sale... | Commodities and Trade |
NEOAX <NOAX> TO SELL NOVATRONICS FOR 20 MLN DLRS
| Neoax Inc said it has
agreed to sell the assets and business of its Novatronics
Division to Veeco Instruments Inc <VEE> for 20 mln dlrs.
Neoax said it expects a gain of about nine mln dlrs on the
transaction which is expected to becomleted during the second
quarter, adding the gain will be sheltered ... | Corporate News |
PONCE FEDERAL BANK FSB <PFBS> RAISES DIVIDEND
| Qtly div nine cts vs 7.5 cts in prior qtr
Payable April 15
Record March 31
| Financial Reports |
FOOTHILL GROUP <FGI> SEES BETTER FIRST QUARTER
| Don Gevirtz, chairman of The Foothill
Group Inc, told Reuters the company's first quarter results
will be up sharply over last year's eight cents a share.
"First quarter results will be dramatically better," he
said following a presentation to analysts. He cited a sharp
drop in non-earning assets, healt... | Commodities and Trade |
BANK OF FRANCE BUYS DOLLARS, SELLS YEN - DEALERS
| The Bank of France intervened on the
market to buy dollars and sell yen to support the U.S.
Currency, dealers said.
A major French bank said it acted for the central bank in
buying between five and 15 mln dlrs against yen.
A dealer at another bank said his bank had been asked to
publicise the inte... | Commodities and Trade |
STANDARD <SRD> REFERRING BP <BP> BID TO GROUP
| Standard Oil Co said British
Petroleum Co Plc's proposed offer of 70 dlrs a share for the 45
pct of Standard's stock not held by BP is being referred to a
special committee of the company's board.
This committee, which is composed of the independent,
non-exective directors of the company, was formed in ... | Corporate News |
ANCHOR GLASS <AGLS> NOW SEES HIGHER 1ST QTR NET
| Anchor Glass Container Corp said
first quarter net income is now expected to exceed the 3.1 mln
dlrs earned before extraordinary items in the year earlier
quarter.
Previously, the company had said first quarter results
would likely be lower than for the 1986 period due to
production disruptions caused... | Other |
MACNEAL-SCHWENDLER CORP <MNS> RAISES PAYOUT
| Qtly div five cts vs 2-1/2 cts prior
Pay June 10
Record May 29
NOTE: Prior payment adjusted for two-for-one stock split
declared recently.
| Commodities and Trade |
VIACOM INTERNATIONAL INC <VIA> SETS QUARTERLY
| Qtly div seven cts vs seven cts prior
Pay May Eight
Record April 17
| Corporate News |
BP OIL RAISES OPERATING PROFIT
| <BP Oil Ltd>, the U.K. Marketing and
refining arm of British Petroleum Co Plc <BP.L>, raised its
pretax operating profit on a replacement cost basis to 182 mln
stg in calendar 1986, compared with 66 mln stg in 1985.
Sales and operating revenue fell to 3.1 billion stg from
4.2 billion on a replacem... | Industrial and Sector News |
U.K. MONEY MARKET GETS 25 MLN STG LATE HELP
| The Bank of England said it provided
about 25 mln stg in late help to the money market, bringing the
total assistance today to 266 mln stg.
This compares with the bank's revised estimate of a 350 mln
stg money market shortfall.
| Other |
PHLCORP <PHX> HAS BREAKEVEN RESULTS
| PHLCORP Inc said for November 14
through December 31, its first reporting period after emerging
from reorganization proceedings, it earned 86,000 dlrs on
revenues of 47 mln dlrs, excluding 2,300,000 dlrs in gains on
the sale of real estate and 800,000 dlrs in tax credits.
The company is the successor to... | Corporate News |
FOOTE MINERAL TO MERGE INTO RIO TINTO
| Foote Mineral Co said it signed a
letter of intent to merge into Rio Tinto-Zinc Corp PLC for
cash.
Foote, 83 pct owned by Newmont Mining Corp, said Newmont
has informally indicated it would vote in favor of the Rio
Tinto proposal.
Foote said terms of the agreement, including price for the
propos... | Corporate News |
ALUMINIUM SCRAP RECOVERY AND USAGE TO RISE
| Aluminium scrap recovery and usage and
output of secondary metal will continue to rise, said Shearson
Lehman Brothers in a review of the secondary aluminium market
which details cost and demand factors.
Although primary smelting costs have declined generally in
recent years, the still substantial energy... | Commodities and Trade |
CROSS AND TRECKER <CTCO> BUYS AUTOMATION UNIT
| Cross and Trecker said it
agreed to acquire the Alliance Automation Systems division of
Gleason Corp <GLE> for an undisclosed amount of cash.
It said the Gleason division manufactures automated
assembly and test systems used in the production of small to
medium size components for a number of industr... | Other |
SALANT CORP <SLT> 1ST QTR FEB 28 NET
| Oper shr profit seven cts vs loss 12 cts
Oper net profit 216,000 vs loss 401,000
Sales 21.4 mln vs 24.9 mln
NOTE: Current year net excludes 142,000 dlr tax credit.
Company operating in Chapter 11 bankruptcy.
| Commodities and Trade |
HEALTHMATE INC <HMTE> 4TH QTR LOSS
| Shr loss five cts vs loss six cts
Net loss 473,784 vs loss 489,257
Revs 268.8 mln vs 81.7 mln
Avg shrs 9,245,247 vs 8,035,326
Year
Shr loss 17 cts vs loss 20 cts
Net 1,512,534 vs loss 1,553,592
Revs 1,448,310 vs 515,225
Avg shrs 8,745,132 vs 7,619,863
| Financial Reports |
KEATING REVISES DOWN AUSTRALIAN GROWTH FORECAST
| Treasurer Paul Keating forecast
economic growth at slightly under two pct in the financial year
ending June this year, down from the 2.25 pct forecast
contained in the 1986/87 budget delivered last August.
Australia's terms of trade also fell, by 18 pct, over the
past two years, he told Parliament. Term... | Financial Reports |
26-FEB-1987
| 26-FEB-1987
| Financial Reports |
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