(Reuters) - Two institutional proxy advisory services, Institutional Shareholder Services and Glass Lewis & Co., had recommended against an earlier $19.5 billion bid to take Clear Channel private, saying $39 a share was too low.
According to a term sheet contemplating a change in the terms and structure of the proposed merger, Chairman Lowry Mays, CEO Mark Mays and CFO Randall Mays -- who together own more than 6 percent -- and each Clear Channel director would receive $37.60 per share in cash for their stock.
Read more at Reuters.com Bonds News
Thursday, May 3, 2007
Australian Dollar Slumps After Central Bank Cuts 2007 Inflation Forecast
(Bloomberg) -- The Australian dollar declined, in the biggest fluctuation of any currency today, after the central bank cut its inflation forecast, weakening the case for an interest-rate increase.
The local dollar is the worst performer of the 16 most traded currencies this week as traders pared bets the Reserve Bank of Australia will increase the nation's 6.25 percent benchmark rate this year. The Australian dollar also fell to the lowest in almost four weeks after a government report showed the trade deficit widened more than expected.
Read more at Bloomberg Currencies News
The local dollar is the worst performer of the 16 most traded currencies this week as traders pared bets the Reserve Bank of Australia will increase the nation's 6.25 percent benchmark rate this year. The Australian dollar also fell to the lowest in almost four weeks after a government report showed the trade deficit widened more than expected.
Read more at Bloomberg Currencies News
Options Traders the Most Bullish on Rising Canadian Dollar in Five Weeks
(Bloomberg) -- Options traders are the most bullish on the Canadian dollar in five weeks amid signs of economic strength and rising commodity prices.
The Canadian dollar this week reached the highest in almost eight months and has strengthened more than 6 percent versus the U.S. dollar since March 5. It is also gaining on speculation the Canadian central bank is comfortable with the currency's strength.
Read more at Bloomberg Currencies News
The Canadian dollar this week reached the highest in almost eight months and has strengthened more than 6 percent versus the U.S. dollar since March 5. It is also gaining on speculation the Canadian central bank is comfortable with the currency's strength.
Read more at Bloomberg Currencies News
U.K. Personal Insolvencies Rose 60 Percent in First Quarter, Report Shows
(Bloomberg) -- U.K. personal insolvencies rose 60 percent in the first three months of the year from the same period in 2006, a report today showed.
So-called individual voluntary arrangements also rose, by 33 percent from the same period a year earlier, said TDX Group, a debt manager whose clients include HSBC Holdings Plc, Europe's largest bank. An IVA is a form of insolvency that allows individuals to write off most of their debt and make gradual repayments on the remaining amount.
Read more at Bloomberg Bonds News
So-called individual voluntary arrangements also rose, by 33 percent from the same period a year earlier, said TDX Group, a debt manager whose clients include HSBC Holdings Plc, Europe's largest bank. An IVA is a form of insolvency that allows individuals to write off most of their debt and make gradual repayments on the remaining amount.
Read more at Bloomberg Bonds News
Rand firms on solid emerging markets
(Reuters) - South Africa's rand strengthened versus the dollar on Thursday on positive emerging market sentiment and traders expected to keep its firmer tone.
The rand traded firmer than 7 to the dollar for most of the trading session, reaching a session high of 6.9650. It was changing hands at 6.9775 at 1520 GMT, about 0.6 percent firmer than its New York close of 7.02 on Wednesday, and just off a recent four-month high.
Read more at Reuters Africa
The rand traded firmer than 7 to the dollar for most of the trading session, reaching a session high of 6.9650. It was changing hands at 6.9775 at 1520 GMT, about 0.6 percent firmer than its New York close of 7.02 on Wednesday, and just off a recent four-month high.
Read more at Reuters Africa
Asian Equities Extend Record on Metals, U.S. Economy; BHP, PetroChina Gain
(Bloomberg) -- Asian stocks extended a record high, led by BHP Billiton Ltd. as metals prices climbed after better- than-forecast productivity growth in the U.S. eased concern of a deepening economic slowdown in the world's largest economy.
Benchmarks in Australia, South Korea, Singapore, Malaysia and Indonesia rose to new highs, tracking advances in the Morgan Stanley Capital International Asia-Pacific excluding Japan Index.
Read more at Bloomberg Stocks News
Benchmarks in Australia, South Korea, Singapore, Malaysia and Indonesia rose to new highs, tracking advances in the Morgan Stanley Capital International Asia-Pacific excluding Japan Index.
Read more at Bloomberg Stocks News
Green Mountain, Monster, Phoenix, RealNetworks: U.S. Equity Movers Final
(Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Shares prices are as of 4 p.m. New York time.
Acorn International Inc. (ATV US) American depositary receipts, each representing three shares, jumped $6, or 39 percent, to $21.50 in the first day of trading. The company, which distributes consumer products through direct television sales, sold 7.7 million shares at $15.50 each, raising $119 million in an initial public offering.
Read more at Bloomberg Stocks News
Acorn International Inc. (ATV US) American depositary receipts, each representing three shares, jumped $6, or 39 percent, to $21.50 in the first day of trading. The company, which distributes consumer products through direct television sales, sold 7.7 million shares at $15.50 each, raising $119 million in an initial public offering.
Read more at Bloomberg Stocks News
Derivatives hint at weak April job growth
(Reuters) - The labor market has proved surprisingly robust in recent months, especially given a severe slump in housing that many believe would quickly lead to greater job losses.
Some, including those betting on the numbers through derivatives, think April will finally be the first month to reveal the long-awaited weakness.
Read more at Reuters.com Economic News
Some, including those betting on the numbers through derivatives, think April will finally be the first month to reveal the long-awaited weakness.
Read more at Reuters.com Economic News
WWE up on higher earnings
(Reuters) - Revenue from the consumer products businesses increased 29 percent and digital media related businesses 43 percent, the company added.
The effective tax rate of 35 percent in the latest first quarter was significantly lower than the 45 percent rate a year ago, the company said in a statement.
Read more at Reuters.com Hot Stocks News
The effective tax rate of 35 percent in the latest first quarter was significantly lower than the 45 percent rate a year ago, the company said in a statement.
Read more at Reuters.com Hot Stocks News
Hong Kong Shares Climb to Highest in Two Weeks; Henderson Land Advances
(Bloomberg) -- Hong Kong's stocks rose to the highest in two weeks. Henderson Land Development Co. led gains among developers after Merrill Lynch & Co. raised its share-price estimate for the stock on the company's businesses in China.
``There's strong liquidity flowing into Hong Kong market,'' said Renault Kam, a director of Atlantis Investment Management Ltd., which oversees $3 billion in Asia. ``Investors view developers as asset plays which benefits from robust China growth.''
Read more at Bloomberg Stocks News
``There's strong liquidity flowing into Hong Kong market,'' said Renault Kam, a director of Atlantis Investment Management Ltd., which oversees $3 billion in Asia. ``Investors view developers as asset plays which benefits from robust China growth.''
Read more at Bloomberg Stocks News
U.K. FTSE 100 Gains, Led by Unilever, Shell; Barclays Jumps on ABN Ruling
(Bloomberg) -- U.K. stocks advanced after earnings from Unilever Plc and Royal Dutch Shell Plc beat analysts' estimates.
Barclays Plc climbed after a Dutch Judge blocked the sale of ABN Amro Holding NV's U.S. unit to Bank of America Corp. Prudential Plc rallied after a newspaper reported that a major shareholder said a breakup of the insurer has merit. Hammerson Plc jumped as the company said it would only consider a takeover offer that fully reflected the value of its assets
Read more at Bloomberg Stocks News
Barclays Plc climbed after a Dutch Judge blocked the sale of ABN Amro Holding NV's U.S. unit to Bank of America Corp. Prudential Plc rallied after a newspaper reported that a major shareholder said a breakup of the insurer has merit. Hammerson Plc jumped as the company said it would only consider a takeover offer that fully reflected the value of its assets
Read more at Bloomberg Stocks News
U.S. Stocks Gain on Productivity, Inflation Data; Symantec, Intel Advance
(Bloomberg) -- U.S. stocks rose and the Standard & Poor's 500 Index topped 1500 for the first time since September 2000, helped by evidence the economy is expanding without jumpstarting inflation.
Symantec Corp. climbed the most in nine months and led technology shares higher after profit at the anti-virus software maker exceeded analysts' estimates. Intel Corp. and Advanced Micro Devices Inc., the two biggest makers of personal-computer processors, helped lift the stock market to its third day of gains on speculation profit growth at technology companies will withstand an economic slowdown.
Read more at Bloomberg Stocks News
Symantec Corp. climbed the most in nine months and led technology shares higher after profit at the anti-virus software maker exceeded analysts' estimates. Intel Corp. and Advanced Micro Devices Inc., the two biggest makers of personal-computer processors, helped lift the stock market to its third day of gains on speculation profit growth at technology companies will withstand an economic slowdown.
Read more at Bloomberg Stocks News
Record Electricity Prices Predicted for Europe on Anticipated Heat Wave
(Bloomberg) -- Electricity prices may reach record highs in Europe as forecasters predict a second straight summer of soaring temperatures.
``The chances are we will see significant increases in prices,'' Kim Keats, head of power and fuels at ICF International Inc. in London, said in an interview. ``Forward prices will take this into account.''
Read more at Bloomberg Energy News
``The chances are we will see significant increases in prices,'' Kim Keats, head of power and fuels at ICF International Inc. in London, said in an interview. ``Forward prices will take this into account.''
Read more at Bloomberg Energy News
GM says subprime "maelstrom" caused shortfall
(Reuters) - "I think investors understood that issues in nonprime would not be limited to the fourth quarter, that you would see some effect in 2007, but frankly I don't think that was fully factored in," Henderson told reporters after GM reported its first-quarter results.
GM, which still owns a 49 percent stake in GMAC, realized a loss of $115 million in the first quarter from its investment in the finance company.
Read more at Reuters.com Business News
GM, which still owns a 49 percent stake in GMAC, realized a loss of $115 million in the first quarter from its investment in the finance company.
Read more at Reuters.com Business News
U.S. productivity solid, labor cost rise slight
(Reuters) - In a sign of a solid labor market, another report on Thursday showed a surprising drop in unemployment claims.
Analysts were expecting business productivity, a measure of how much any given worker can produce in an hour, to rise by 1 percent in the first quarter.
Read more at Reuters.com Business News
Analysts were expecting business productivity, a measure of how much any given worker can produce in an hour, to rise by 1 percent in the first quarter.
Read more at Reuters.com Business News
Dutch investor group VEB says ABN CEO should go
(Reuters) - A Dutch court ruled on Thursday that ABN AMRO for
ABN.
Read more at Reuters.com Business News
ABN.
Read more at Reuters.com Business News
UPDATE 1-Westlake Chemical first-quarter profit tumbles
(Reuters) - Net income dropped to $19.7 million, or 30 cents a share, from $51.3 million, or 79 cents a share, a year earlier.
Quarterly sales rose 16 percent to $718.8 million from $618.8 million.
Read more at Reuters.com Market News
Quarterly sales rose 16 percent to $718.8 million from $618.8 million.
Read more at Reuters.com Market News
Gildan reports lower second-quarter profit
(Reuters) - Gildan said profit fell to $21.1 million, or 35 cents a share, for the period ended April 1, down from $31.0 million, or 51 cents a share, a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Martha Stewart loss widens on charge, revenue rises
(Reuters) - The publisher of Martha Stewart Living and Everyday Food reported a first-quarter net loss of $11.9 million, or 23 cents a share, compared with a loss of $6.8 million, or 13 cents a share, in the first quarter last year.
Revenue rose 7.4 percent to $66.7 million.
Read more at Reuters.com Market News
Revenue rose 7.4 percent to $66.7 million.
Read more at Reuters.com Market News
UPDATE 1-Tandy Leather Factory April sales flat
(Reuters) - "Weak leather sales are still affecting the Leather Factory stores but we're beginning to see signs of that trend reversing," Chief Executive Officer Ron Morgan said in a statement.
The leather and related products retailer said within the Wholesale Leathercraft division, the National Account group had a tough month due primarily to the timing of customer orders.
Read more at Reuters.com Market News
The leather and related products retailer said within the Wholesale Leathercraft division, the National Account group had a tough month due primarily to the timing of customer orders.
Read more at Reuters.com Market News
Productivity in U.S. Increases More Than Forecast; Labor Costs Moderate
(Bloomberg) -- U.S. productivity growth was greater than forecast last quarter and labor costs moderated, easing concern that a tight job market will fuel inflation.
Productivity, a measure of how much an employee produces for each hour of work, rose at an annual rate of 1.7 percent, the Labor Department said today in Washington, more than twice the pace projected by economists. The price of labor rose 0.6 percent pace after jumping 6.2 percent in the prior three months.
Read more at Bloomberg Currencies News
Productivity, a measure of how much an employee produces for each hour of work, rose at an annual rate of 1.7 percent, the Labor Department said today in Washington, more than twice the pace projected by economists. The price of labor rose 0.6 percent pace after jumping 6.2 percent in the prior three months.
Read more at Bloomberg Currencies News
TREASURIES-Bond prices ease on lower jobless claims
(Reuters) - NEW YORK, May 3 - U.S. Treasuries eased on Thursday as lower-than-expected weekly jobless claims made investors nervous ahead of Friday's closely watched employment report.
Losses were limited however by data showing a much lower-than-expected gain in unit labor costs in the first quarter.
Read more at Reuters.com Bonds News
Losses were limited however by data showing a much lower-than-expected gain in unit labor costs in the first quarter.
Read more at Reuters.com Bonds News
Tongaat-Hulett to list Hulamin on June 25
(Reuters) - South African sugar and aluminium group Tongaat-Hulett will split into two companies and list its aluminium business Hulamin on the Johannesburg bourse on June 25, the group said on Thursday.
Tongaat-Hulett (TH), South Africa's second-biggest sugar producer, said in a statement it will also sell an 18 percent stake in TH to black investors and a further 7 percent to staff in a black economic empowerment (BEE) transaction.
Read more at Reuters Africa
Tongaat-Hulett (TH), South Africa's second-biggest sugar producer, said in a statement it will also sell an 18 percent stake in TH to black investors and a further 7 percent to staff in a black economic empowerment (BEE) transaction.
Read more at Reuters Africa
UPDATE 1-OM Group first-quarter profit soars, shares rise
(Reuters) - Net income in the quarter rose to $114.8 million or $3.85 a share, compared with $18.2 million, or 62 cents a share, in the year-ago period.
Shares of the company rose $4.00, or 7.55 percent, to $57.01 in early trade on the New York Stock Exchange.
Read more at Reuters.com Mergers News
Shares of the company rose $4.00, or 7.55 percent, to $57.01 in early trade on the New York Stock Exchange.
Read more at Reuters.com Mergers News
UPDATE 1-Swedish steelmaker SSAB to buy Ipsco for $7.7 bln
(Reuters) - SSAB is offering $160 a share for Ipsco, a 7.7 percent premium over its closing price on Wednesday.
Ipsco, which has major operations in western Canada, is headquartered in Lisle, Illinois.
Read more at Reuters.com Mergers News
Ipsco, which has major operations in western Canada, is headquartered in Lisle, Illinois.
Read more at Reuters.com Mergers News
UPDATE 1-Novartis says will defend rights on Femara
(Reuters) - "We will continue to protect our intellectual property," Novartis spokesman John Gilardi said on Thursday.
Novartis has a compound patent on Femara until 2011 and filed a patent infringement lawsuit against Mylan's generic version in 2006.
Read more at Reuters.com Government Filings News
Novartis has a compound patent on Femara until 2011 and filed a patent infringement lawsuit against Mylan's generic version in 2006.
Read more at Reuters.com Government Filings News
UPDATE 1-InfraSource reports quarterly loss on merger costs
(Reuters) - The first-quarter net loss was $1 million, or 2 cents a share. Excluding merger-related costs, earnings fell to $1.2 million or 3 cents a share, from $2.5 million, or 6 cents a share a year ago. Analysts expected earnings of 6 cents a share, excluding one-time items, according to Reuters Estimates.
The Media, Pennsylvania-based company's revenue fell about 5 percent to $203.8 million. Analysts on average expected revenue of $211.0 million.
Read more at Reuters.com Market News
The Media, Pennsylvania-based company's revenue fell about 5 percent to $203.8 million. Analysts on average expected revenue of $211.0 million.
Read more at Reuters.com Market News
UPDATE 1-FirstEnergy 1st-qtr earnings rise
(Reuters) - Net income was $290 million, or 92 cents per share, up from $221 million, or 67 cents per share, a year before.
The company said earnings in the quarter included 5 cents per share of one-time gains from new regulations as well as a charge of 1 cent per share to write down some securities.
Read more at Reuters.com Market News
The company said earnings in the quarter included 5 cents per share of one-time gains from new regulations as well as a charge of 1 cent per share to write down some securities.
Read more at Reuters.com Market News
Publicis shares down, Q1 sales disappoint
(Reuters) - PARIS, May 3 - France's Publicis Groupe on Thursday, driven by client gains.
Publicis, the world's fourth largest advertising group, also confirmed a target for 2007 underlying sales growth of around 5 percent and for an operating margin of 16.7 percent in 2008.
Read more at Reuters.com Market News
Publicis, the world's fourth largest advertising group, also confirmed a target for 2007 underlying sales growth of around 5 percent and for an operating margin of 16.7 percent in 2008.
Read more at Reuters.com Market News
Citigroup Gets Record $12 Billion Loan to Fund Nikko Purchase, Bankers Say
(Bloomberg) -- Citigroup Inc. borrowed 1.45 trillion yen ($12 billion) in Japan's largest syndicated loan to fund its purchase of Nikko Cordial Corp., said two bankers who were involved in the transaction.
Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., the three largest banks in Japan, provided almost half of the financing, the bankers said, asking not to be identified before an announcement. Citigroup last week paid 920 billion yen to build a 61 percent stake in Tokyo-based Nikko, Japan's third-largest securities firm.
Read more at Bloomberg Bonds News
Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., the three largest banks in Japan, provided almost half of the financing, the bankers said, asking not to be identified before an announcement. Citigroup last week paid 920 billion yen to build a 61 percent stake in Tokyo-based Nikko, Japan's third-largest securities firm.
Read more at Bloomberg Bonds News
Record Electricity Prices for Europe Predicted on Anticipated Heat Wave
(Bloomberg) -- Electricity prices may reach record highs in Europe as forecasters predict a second straight summer of soaring temperatures.
``The chances are we will see significant increases in prices,'' Kim Keats, head of power and fuels at ICF International Inc. in London, said in an interview. ``Forward prices will take this into account.''
Read more at Bloomberg Exclusive News
``The chances are we will see significant increases in prices,'' Kim Keats, head of power and fuels at ICF International Inc. in London, said in an interview. ``Forward prices will take this into account.''
Read more at Bloomberg Exclusive News
Madison Dearborn to buy VWR International
(Reuters) - By Michael Flaherty
NEW YORK, May 2 - U.S. laboratory supply company VWR International Inc. said on Wednesday it agreed to be bought by private equity firm Madison Dearborn Partners.
Read more at Reuters.com Bonds News
NEW YORK, May 2 - U.S. laboratory supply company VWR International Inc. said on Wednesday it agreed to be bought by private equity firm Madison Dearborn Partners.
Read more at Reuters.com Bonds News
Commonwealth Bank Says Copper Price May Drop 30 Percent by End of Year
(Bloomberg) -- Copper prices may fall about 30 percent by the end of the year as demand lags behind supply following a slowdown in the U.S. housing sector, according to the Commonwealth Bank of Australia.
Copper may drop to $5,500 a metric ton by December and average $6,220 a ton this year, David Moore, commodity strategist at the Sydney-based bank said in comments e-mailed to Bloomberg. Copper for delivery in three months on the London Metal Exchange rose $30, or 0.4 percent, to $7,985 a ton at 5:16 a.m. local time.
Read more at Bloomberg Commodities News
Copper may drop to $5,500 a metric ton by December and average $6,220 a ton this year, David Moore, commodity strategist at the Sydney-based bank said in comments e-mailed to Bloomberg. Copper for delivery in three months on the London Metal Exchange rose $30, or 0.4 percent, to $7,985 a ton at 5:16 a.m. local time.
Read more at Bloomberg Commodities News
Sanofi Q1 net falls on lack of 2006 gains
(Reuters) - The group raised its full-year outlook, predicting adjusted earnings per share growth, excluding selected items, of 9 percent compared with a previous forecast of 6 percent, barring major adverse events and calculated using a euro/dollar exchange rate of $1.25 compared with the actual $1.36
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Pardus denies it want Valeo-Visteon link up
(Reuters) - "Valeo management continues to misstate Pardus' strategic view by feeding rumours and allegations that Pardus strategy is a link-up with Visteon."
The fund said it had watered down an original proposal to name two Pardus representatives and six independent directors to the Valeo board to two representatives and one independent director. It repeated its was willing to agree a standstill agreement at 20 percent share ownership.
Read more at Reuters.com Mergers News
The fund said it had watered down an original proposal to name two Pardus representatives and six independent directors to the Valeo board to two representatives and one independent director. It repeated its was willing to agree a standstill agreement at 20 percent share ownership.
Read more at Reuters.com Mergers News
Asian Currencies: Won Gains From Two-Week Low on Exports, Peso Advances
(Bloomberg) -- South Korea's won strengthened the most in four weeks on speculation exporters bought the currency near a two-week low.
Earnings for Korean manufacturers increase in local- currency terms when they convert profit as the won drops. Stocks rose to near a record high, prompting inflows from overseas, which encouraged exporters to buy won. Businesses were more optimistic about the economic outlook for May, partly because of rising exports, a survey by the Federation of Korean Industries showed.
Read more at Bloomberg Currencies News
Earnings for Korean manufacturers increase in local- currency terms when they convert profit as the won drops. Stocks rose to near a record high, prompting inflows from overseas, which encouraged exporters to buy won. Businesses were more optimistic about the economic outlook for May, partly because of rising exports, a survey by the Federation of Korean Industries showed.
Read more at Bloomberg Currencies News
PRESS DIGEST - New York Times business news - May 3
(Reuters) - * Sophisticated Internet users have banded together over the last two days to publish and widely distribute a secret code used by the technology and movie industries to prevent piracy of high-definition movies.
* The Internal Revenue Service is curtailing audits of many people who use offshore tax havens, even when agents see signs of tax evasion, because agents fear they cannot meet a three-year deadline for finishing an examination, Congressional investigators have found.
Read more at Reuters.com Government Filings News
* The Internal Revenue Service is curtailing audits of many people who use offshore tax havens, even when agents see signs of tax evasion, because agents fear they cannot meet a three-year deadline for finishing an examination, Congressional investigators have found.
Read more at Reuters.com Government Filings News
Oil steady after mixed US inventory picture
(Reuters) - Oil prices clawed back up on Thursday after U.S. government data showed a build in crude but a further fall in gasoline stocks ahead of peak summer demand.
London Brent crude, currently seen as more representative of global oil prices than U.S. crude, gained 18 cents to $66.43 a barrel by 0357 GMT, after dropping 75 cents on Wednesday. U.S. crude rose 4 cents to $63.72, after a 72-cent drop a day earlier.
Read more at Reuters Africa
London Brent crude, currently seen as more representative of global oil prices than U.S. crude, gained 18 cents to $66.43 a barrel by 0357 GMT, after dropping 75 cents on Wednesday. U.S. crude rose 4 cents to $63.72, after a 72-cent drop a day earlier.
Read more at Reuters Africa
Investec year EPS to be 24-29 pct up on prior year
(Reuters) - South African investment banking and asset management group Investec Plc said on Thursday earnings per share for the year to end-March was likely to be 24 to 29 percent higher than the year before.
"The group has experienced a strong performance from the majority of its business units," Investec said in a trading statement.
Read more at Reuters Africa
"The group has experienced a strong performance from the majority of its business units," Investec said in a trading statement.
Read more at Reuters Africa
Sasol hedges 45,000 bpd for '08 financial year
(Reuters) - South Africa's Sasol, the world's top coal-to-liquids maker, will hedge 45,000 barrels of oil per day or 30 percent of its synthetic fuels production for its 2008 financial year, the company said on Thursday.
Under the hedge, Sasol has a floor price of $62.40 per barrel, based on monthly average dated Brent crude oil prices, and will forego the upside on the hedged volumes should the monthly average dated Brent price exceed $76.80 per barrel.
Read more at Reuters Africa
Under the hedge, Sasol has a floor price of $62.40 per barrel, based on monthly average dated Brent crude oil prices, and will forego the upside on the hedged volumes should the monthly average dated Brent price exceed $76.80 per barrel.
Read more at Reuters Africa
Earnings boost FTSE; break-up report boosts Pru
(Reuters) - Britain's FTSE 100 share index rose early on Thursday as solid corporate results boosted Royal Dutch Shell and Unilever and Prudential gained after a newspaper reported talk of a break-up.
At 0727 GMT the FTSE 100 was up 36.3 points, or 0.56 percent at 6,521.7, after gaining 1 percent in the previous session. European shares also nudged higher.
Read more at Reuters Africa
At 0727 GMT the FTSE 100 was up 36.3 points, or 0.56 percent at 6,521.7, after gaining 1 percent in the previous session. European shares also nudged higher.
Read more at Reuters Africa
S.Africa house price growth continues to slow - survey
(Reuters) - South Africa residential house price growth continued to slow in April, curbed by higher interest rates and rising debt, but declining supply should prop up the market, a survey showed on Thursday.
The Standard Bank monthly property gauge showed annualised house price growth at 7.4 percent last month, down from 8.4 percent growth in March.
Read more at Reuters Africa
The Standard Bank monthly property gauge showed annualised house price growth at 7.4 percent last month, down from 8.4 percent growth in March.
Read more at Reuters Africa
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