Daily Highlights: 9.27.2010
- Asian stocks rise to five-month high on US capital goods.
- Brazil crops shrivel as Amazon dries up to lowest in 47 years.
- Europe’s central banks halt gold sales; run of large disposals ends.
- Euro trades close to 5-month high against dollar, buys $1.3469.
- Eurozone annual M3 money-supply growth grew at a 1.1% in August vs. 0.2% in July.
- German business confidence rose unexpectedly in September.
- Germany backs tough EU deficit rules.
- Gold may advance to record on weaker dollar; Silver climbs to 30-year high.
- Japan said to consider up to $55B extra stimulus as recovery slows.
- Japanese export growth slows in August due to strong yen and slack buying overseas.
- Spanish government approved a budget with a tax increase on the wealthy.
- UK house prices drop most in 18 months as market weakens in all regions.
- US Treasury said to ready plan to sell AIG stake, recoup taxpayer investment.
- AIG projects 2010 operating profit of at least $2B for Asian unit.
- Airtran to be purchased by Southwest.
- Allergan receives U.S. regulatory approval for Ozurdex to treat non-infectious uveitis.
- AXIS Capital announces additional $750M share repurchase authorization.
- China's Bright Food in talks to buy out United Biscuits for more than $3B.
- China's Daqo New Energy seeks $115M IPO after postponing offering.
- Doughty Hanson sells Impress Metal to Ardagh Glass Group for $2.3B.
- HSBC shares open lower in London as market responds to management shakeup.
- Hyundai to recall 140,000 sedans in US on steering wheel defects.
- KB Home beats by $0.13, posts Q3 loss of $0.02/sh as revs rose 9.3% to $501M.
- Lukoil used an option to purchase back 5% of its own shares from Conoco for $2.38B.
- M&T merger talks with Santander are said to collapse over control dispute.
- PE firm Prodos, Samsung emerge as final bidder to buy Gianfranco Ferré.
- Sanofi lining up more finance as it contemplates raising its $18.5B bid for Genzyme.
- Sinochem is said to be likeliest to trump BHP's $40B bid for Potash.
- Unilever to buy hair-products group Alberto Culver Co. for $3.7B cash.
- Vivendi SA sells 7.66% stake in NBC Universal to GE for $2B.
Economic Calendar: Data on Initial & Continuing Claims, Existing Home Sales today.
Earnings Calendar: CALM, FFI, FGP, FUEL, GBX, GMTC, JBL, PAYX, STRZ, THO, ZLC.
RECENT RATING ACTIONS
JAPAN (JAPZ JP)
VALASSIS COMMUNICATIONS INC (VCI)
TENET HEALTHCARE CORP (THC)
RF MICRO DEVICES INC (RFMD)
JEFFERIES GROUP INC (JEF)
BUNGE LTD (BG)
RITE AID CORP (RAD)
GENERAL MILLS INC (GIS)
AIRTRAN HOLDINGS INC (AAI)
AUTOZONE INC (AZO)
EXCO RESOURCES INC (XCO)
Data provided by Egan-Jones