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Royal Wessanen nv: Wessanen reports improved underlying operating profit and EPS

July 30, 2010 By vani Leave a Comment

Q2 2010 highlights

Revenue steady at EUR 193.7 million, in line with last year’s second quarter

Operating result (EBIT) improved to EUR 9.4 million (Q2 2009: EUR (4.8) million)

Net result of EUR 6.6 million; Earnings per share (EPS) of EUR 0.08

Wessanen Europe revenue EUR 131.0 million (0.6% autonomous growth)

Piet Hein Merckens took over as CEO on 1 June

Strategic initiatives (e.g. brand harmonisation and centralised sourcing) are on
schedule

For second half 2010, Wessanen expects its operating result to be around break-even

HUG#1434676

Download hier het Nederlandse persbericht (PDF, 200kB)

http://hugin.info/143317/R/1434676/380234.pdf

Download the full press release including the semi-annual financial report (English
version, 197kB) http://hugin.info/143317/R/1434676/380233.pdf

Filed Under: International News Tagged With: 6 million, ceo, earnings per share, Eps, Eur 4, Europe, Harmonisation, HEIN, Hugin, Merckens, operating profit, press release, second half, second quarter, strategic initiatives, Wessanen

Futures point to flat open for European shares

July 28, 2010 By vani Leave a Comment

July 27 (Reuters) – European shares were set for a flat open on Tuesday, having hit a five-week closing high in the previous session, and with investors digesting a raft of corporate earnings, including BP (BP.L) and UBS (UBSN.VX).

At 0607 GMT, futures for the STOXX Europe 50 STXEc1 were down 0.1 percent. Futures for Germany’s DAX FDXc1 were flat and those for France’s CAC FCEc1 were down 0.1 percent.

(Reporting by Brian Gorman)

Filed Under: International News Tagged With: bp, Brian Gorman, CAC, Corporate Earnings, DAX, Europe, european shares, France, futures, Germany, investors, raft, reuters, Stoxx, UBS, UBSN, Vx

KKR shares look undervalued – Barron’s

July 26, 2010 By vani Leave a Comment

July 25 (Reuters) – Some value-attuned hedge-fund managers are dissecting KKR’s business in a way that makes it look undervalued, Barron’s reported in its July 26 edition.

The long-anticipated U.S. stock debut of Kohlberg Kravis Roberts & Co (KKR.N) had proved a disappointment in mid-July as investors shied away from the private equity firm that made its name with the leveraged buyout of RJR Nabisco in 1988. [ID:nN15209250]

KKR debuted at $10.50, and has traded lower from there, in part due to some apparent technical selling by investors unable to exit the stock when it was listed in Europe, the paper said. It closed Friday at $9.50.

The newspaper also urged investors to try valuing potential future performance fees on the $27 billion of deals housed in the company’s private-equity funds and those of deals not yet done and funds not yet raised. (Reporting by Dhanya Skariachan; Editing by Diane Craft)

Filed Under: International News Tagged With: barron, debut, Diane Craft, disappointment, Europe, Hedge Fund Managers, investors, Kkr, kohlberg kravis roberts, Leveraged Buyout, performance fees, private equity firm, Private Equity Funds, reuters, Rjr Nabisco, Roberts Co, shares, stock

BRIEF-Stora posts strong Q2 profit, cautious on q3

July 23, 2010 By vani Leave a Comment

July 22 (Reuters) – Top European paper and board maker Stora Enso (STERV.HE) reported on Thursday:

* Q2 underlying EBIT 213 mln euros vs 131 mln avg fcast in Reuters poll

* Q2 net sales 2.69 bln euros vs 2.38 bln avg fcast in poll

* Says structural overcapacity remains in Europe

* Says Q3 outlook uncertain

* Says sees higher Q3 prices vs Q2

* Says higher Q3 costs to burden result

* Says plans “significant” stoppages in Q3

* Says European Q3 newsprint demand to be similar to that in Q2

* Says coated paper demand to rise vs Q2

* Says sees higher Q3 fine paper demand y/y, weaker vs Q2

* Says sees 2010 cost inflation at 2 pct

(Reporting by Helsinki Newsroom)

Filed Under: International News Tagged With: Coated Paper, Ebit, Europe, Helsinki, inflation, mln, net sales, newsprint, newsroom, outlook, overcapacity, q3, reuters poll, Stoppages, Stora Enso

Ryanair Q1 profit falls on ash, keeps FY forecast

July 21, 2010 By vani Leave a Comment

July 20 (Reuters) – Irish airline Ryanair (RYA.I) posted a 24 percent drop in first-quarter profit due to disruptions caused by a volcanic ash cloud and maintained its forecast for full-year earnings growth.

Europe’s biggest low-cost carrier said on Tuesday its net profit for the three months to the end of June came in at 93.7 million euros ($122 million) after accounting for the 50 million euro cost of almost 10,000 flights cancelled in April and May.

Adjusted net profit rose 1 percent to 138.5 million euros and Ryanair maintained its forecast for full-year net profit to rise by between 10 to 15 percent to between 350 million and 375 million euros — a forecast which it last month said excluded the 50 million euro ash cloud charge. (Reporting by Andras Gergely; Editing by Mike Nesbit) ($1=.7706 euros)

Filed Under: International News Tagged With: 5 million, 50 million, accounting, Cloud Charge, disruptions, Earnings Growth, euro, Europe, flights, irish airline, low cost carrier, nesbit, net profit, Q1 Profit, quarter profit, reuters, rose, Ryanair, three months, Volcanic Ash Cloud

Nufarm slashes FY profit forecast, ups debt estimate

July 15, 2010 By vani Leave a Comment

July 14 (Reuters) – Nufarm (NUF.AX), an Australian farm chemicals group one-fifth owned by Japan’s Sumitomo Chemical (4005.T), axed its full year profit forecast on Wednesday, blaming bad weather in North America and Europe hitting demand.

Nufarm also raised its forecast for net debt for the year to July 31, 2010.

It is now expecting a full-year profit around A$55 million to A$65 million, down from an earlier forecast between A$80 million and A$100 million.

The group’s shares, down 50 percent so far this year, were on a trading halt pending the performance update.

The new forecast was as much as 43 percent below analysts’ estimates around A$95.7 million, according to Thomson Reuters I/B/E/S, even following a slew of broker downgrades over the past three weeks. (Reporting by Sonali Paul; editing by Balazs Koranyi)

Filed Under: International News Tagged With: $100 million, bad weather, Chemicals Group, downgrades, estimates, Europe, Farm Chemicals, Japan, July 14, North America, reuters, slashes, slew, Sonali Paul, sumitomo, Sumitomo Chemical, thomson, trading halt, ups

Europe equities seen tracking Asian stocks higher

July 7, 2010 By vani Leave a Comment

July 6 (Reuters) – European stock index futures pointed to gains on Tuesday, tracking a rise in Asian markets, with Japan’s Nikkei .N225 rebounding off seven month lows to close higher.

By 0608 GMT, futures for the STOXX Europe 50 STXEc1 was up 0.5 percent, Germany’s DAX futures FDXc1 added 0.5 percent and France’s CAC FCEc1 futures gained 0.4 percent.

European shares fell to their lowest close in nearly six weeks on Monday, on thin volumes as Wall Street was closed for the Independence Day holiday.

(Reporting by Harpreet Bhal)

Filed Under: International News Tagged With: Asian markets, Asian Stocks, CAC, Dax Futures, Europe, european shares, European Stock, Germany, gmt, Independence Day, Japan, lows, Nikkei, reuters, six weeks, Stock Index Futures, Stoxx, Tracking Stocks, Wall Street

Europe shares briefly turn negative; banks down

July 6, 2010 By vani Leave a Comment

July 5 (Reuters) – European shares briefly turned negative in early trade on Monday as banking shares fell, weighed down by worries over stress tests being conducted on the sector.

At 0808 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was flat at 969.43 points after rising to a high of 975.28 and falling to a low of 967.89.

Among banks, Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L) and BNP Paribas (BNPP.PA) fell 1.3 to 2.1 percent.

The market was expected to remain choppy as volumes were low because of a holiday in the United States.

(Reporting by Atul Prakash)

Filed Under: International News Tagged With: bank of scotland, banks, barc, barclays, Bnp Paribas, bnpp, Europe, european shares, LLOY, lloyds, prakash, RBS, reuters, royal bank of scotland, stress tests, United States, worries

European stock index futures signal falls

July 2, 2010 By vani Leave a Comment

July 1 (Reuters) – European stock index futures pointed to sharp falls for equities on Thursday, as sentiment was soured after manufacturing data from China showed the country’s rapid economic growth was slowing.

By 0601 GMT, futures for the STOXX Europe 50 STXEc1 fell 1.8 percent, Germany’s DAX futures FDXc1 were down 1.3 percent and France’s CAC-40 futures FCEc1 were 1.9 percent lower. (Reporting by Harpreet Bhal)

Filed Under: International News Tagged With: Cac 40, China, Dax Futures, Europe, European Stock, Germany, July 1, Rapid Economic Growth, reuters, sentiment, sharp, Stock Futures, Stock Index Futures, Stoxx

Russia VEB bank to start Eurobond roadshow next week

June 26, 2010 By vani Leave a Comment

June 25 (Reuters) – Russian state-owned bank VEB will run a roadshow for its benchmark Eurobond from June 28 to June 30 in the United States and Europe, a banking source told Reuters late on Thursday.

Financials

VEB, an investment vehicle of the Russian government, had earlier said it would likely place the bond in mid-2010 with a potential size of around $1 billion.

The bank picked Barclays Capital, Citi, HSBC, Societe Generale, ING Bank, VTB Capital and Troika Dialog to arrange the deal.

(Reporting by Oksana Kobzeva; Writing by Dmitry Sergeyev; Editing by Kim Coghill)

Filed Under: International News Tagged With: 1 Billion, barclays, Barclays Capital, benchmark, Citi, coghill, Europe, hsbc, Ing Bank, Investment Vehicle, reuters, Russia, Russian Government, russian state, Societe Generale, State Bank, Troika Dialog, United States, VEB, vtb

EU opens investigation into Syngenta sunflower deal

June 23, 2010 By vani Leave a Comment

June 22 (Reuters) – European Union competition authorities said on Tuesday they have opened an investigation into Swiss group Syngenta’s (SYNN.VX) proposed acquisition of the sunflower seed business of U.S. company Monsanto (MON.N).

“The Commission’s initial market investigation indicated potential competition concerns with respect to the breeding and commercialisation of sunflower seeds and sunflower seed treatment products in Europe,” the European Commission, which regulates EU-wide competition, said in a statement.

The Commission now has 90 working days to take a final decision on the proposed acquisition of Monsanto’s global sunflower seed operations.

Filed Under: International News Tagged With: acquisition, commercialisation, Company Monsanto, Competition Authorities, Competition Concerns, Europe, European Commission, European Union, final decision, initial market, Market Investigation, monsanto, reuters, Seed Business, Seed Treatment Products, Sunflower Seed, Sunflower Seeds, swiss group, Synn, U S Company

Gazprom says Belarus threatens to take transit gas

June 23, 2010 By vani Leave a Comment

June 22 (Reuters) – Russia’s gas export monopoly Gazprom (GAZP.MM) said on Tuesday Belarus has warned it would start taking gas from transit pipelines to Europe if Russia extended supply cuts in its pricing dispute with Minsk.

Energy

(Reporting by Dmitry Zhdannikov, Editing by Alfred Kueppers)

Filed Under: International News Tagged With: Belarus, Europe, Gas Pipelines, gazprom, monopoly, reuters, Russia, Supply Cuts

Gazprom extends gas cuts to Belarus to 30 pct

June 23, 2010 By vani Leave a Comment

June 22 (Reuters) – Russia’s gas export monopoly Gazprom (GAZP.MM) has extended gas supply cuts to Belarus to 30 percent on Tuesday from 15 percent on Monday, Gazprom’s chief executive Alexei Miller told state television Vesti-24.

Energy

Russia imposed cuts from Monday pressing its neighbour to pay a $192 million debt for deliveries and raising the possibility of a reduction in flows to Europe. [ID:nLDE65K031] (Reporting by Dmitry Zhdannikov, Editing by Alfred Kueppers)

Filed Under: International News Tagged With: 192, Belarus, chief executive, deliveries, Europe, Gas Supply, gazprom, monopoly, neighbour, pct, reuters, Russia, state television

Gazprom extends gas cuts to Belarus to 30 pct

June 23, 2010 By vani Leave a Comment

Energy

Russia imposed cuts from Monday pressing its neighbour to pay a $192 million debt for deliveries and raising the possibility of a reduction in flows to Europe. [ID:nLDE65K031]

(Reporting by Dmitry Zhdannikov, Editing by Alfred Kueppers)

Filed Under: International News Tagged With: 192, Belarus, chief executive, deliveries, Europe, Gas Supply, gazprom, monopoly, neighbour, pct, reuters, Russia, state television

European stock index futures signal losses

June 23, 2010 By vani Leave a Comment

June 22 (Reuters) – European stock index futures pointed to a lower open on Tuesday as a dip on Wall Street and in Asia prompt investors to cash in some profits after a brisk nine-session winning streak.

Stocks | European Markets | Global Markets | Financials

By 0602 GMT, futures for the STOXX Europe 50 STXEc1, for Germany’s DAX FDXc1 and for France’s CAC FCEc1 were down 0.3-0.9 percent.

Filed Under: International News Tagged With: asia, CAC, DAX, Europe, European Markets, European Stock, Germany, global markets, investors, losses, profits, reuters, Stock Futures, Stock Index Futures, stocks, Stoxx, Wall Street, Winning Streak

Germany likely closer to 2 pct 2010 growth- FinMin

June 21, 2010 By vani Leave a Comment

June 20 (Reuters) – Germany may come closer to reaching 2 percent economic growth this year than previously expected, Finance Minister Wolfgang Schaeuble said on Sunday.

In late January, the government forecast gross domestic product in Europe’s largest economy would expand by 1.4 percent in 2010, though some economists have said a figure as high as 3 percent is possible.

“Perhaps we will come closer to the 2 percent figure than we even dared hope just a couple of weeks ago,” Schaeuble said during a speech at an award ceremony in the northern German city of Kiel.

Earlier this month, policymakers including Schaeuble had said the German economy should grow faster than expected, with the recovery gathering pace markedly during the current quarter. [ID:nLDE65A0LK] (Reporting by Jan Schwartz, Writing by Sarah Marsh; Editing by Jon Loades-Carter)

Filed Under: International News Tagged With: award ceremony, City Of Kiel, economic growth, economists, Europe, Finance Minister, Gathering Pace, German City, German Economy, Germany, gross domestic product, pct, reuters, Sarah Marsh, wolfgang schaeuble

Germany wants to release bank stress test results -report

June 18, 2010 By vani Leave a Comment

June 17 (Reuters) – The German government wants to release the results of stress tests conducted on its banks, and is coordinating the action at a European level, a newspaper reported on Thursday.

Regulatory News | Global Markets

Citing unidentified government sources, Financial Times Deutschland said Berlin had sent signals to Europe and the Group of Seven nations that it “basically supports” transparency with regard to the tests. (Reporting by Brian Rohan)

Filed Under: International News Tagged With: banks, Berlin, Europe, Financial Times, german government, Germany, global markets, government sources, regard, regulatory news, Results Of Stress, reuters, rohan, Seven Nations, signals, stress test, stress tests, test results, transparency

European stock index futures signal falls

June 18, 2010 By vani Leave a Comment

June 17 (Reuters) – European stock index futures pointed to a lower open on Thursday, halting a six-session rally as investors remained cautious ahead of a Spanish bond auction.

Stocks | European Markets | Global Markets

By 0604 GMT, futures for the STOXX Europe 50 STXEc1, for Germany’s DAX FDXc1 and for France’s CAC FCEc1 were down 0.1 to 0.2 percent. (Reporting by Harpreet Bhal)

Filed Under: International News Tagged With: Auction Stocks, bond auction, CAC, DAX, Europe, European Markets, European Stock, Germany, global markets, investors, rally, reuters, Stock Futures, Stock Index Futures, Stoxx

UPDATE 1-India cbank: inflation is bigger worry

June 18, 2010 By vani Leave a Comment

June 17 (Reuters) – India’s domestic inflation is a bigger concern than other global factors, Reserve Bank of India Deputy Governor K.C. Chakrabarty said on Thursday.

“As of today inflation is definitely a cause of worry. You see international situation is not that volatile, it has some adverse implications. But I think more than that domestic inflation is definitely a matter of worry,” Chakrabarty told reporters on the sidelines of an industry event.

“Double digit inflation is not an easy thing,” he said.

India’s headline inflation unexpectedly accelerated in May, heightening expectations the Reserve Bank of India (RBI) would raise rates before its scheduled July review despite concerns over Europe’s debt crisis. [ID:nSGE65D0E6] (Reporting by Suvashree Dey Choudhury and Neha D’silva)

Filed Under: International News Tagged With: bank of india, cbank, chakrabarty, Debt Crisis, Deputy Governor, dey, Domestic Inflation, Europe, Global Factors, headline inflation, International Situation, Neha, RBI, Reserve Bank of India, reuters, sidelines, silva, worry.

India inflation at uncomfortable levels – adviser

June 18, 2010 By vani Leave a Comment

June 17 (Reuters) – India’s inflation rate has reached uncomfortable levels and some action from the central bank is needed to curb demand-side pressures, a top policy adviser said on Thursday.

C. Rangarajan, chairman of the prime minister’s Economic Advisory Council, was speaking to reporters on the sidelines of a conference.

India’s headline inflation unexpectedly accelerated 10.16 percent in May, heightening expectations the Reserve Bank of India (RBI) would raise rates before its scheduled July review despite concerns over Europe’s debt crisis. [ID:nSGE65D0E6] (Reporting by Suvashree Dey Choudhury and Neha D’silva)

Filed Under: International News Tagged With: bank of india, C. Rangarajan., Conference India, Debt Crisis, dey, Economic Advisory Council, Europe, headline inflation, inflation rate, Neha, Policy Adviser, Prime Minister, RBI, Reserve Bank of India, reuters, sidelines, silva

Futures point to flat open for European shares

KKR shares look undervalued – Barron’s

BRIEF-Stora posts strong Q2 profit, cautious on q3

Nufarm slashes FY profit forecast, ups debt estimate

Europe equities seen tracking Asian stocks higher

Europe shares briefly turn negative; banks down

European stock index futures signal falls

Russia VEB bank to start Eurobond roadshow next week

EU opens investigation into Syngenta sunflower deal

Gazprom says Belarus threatens to take transit gas

Gazprom extends gas cuts to Belarus to 30 pct

Gazprom extends gas cuts to Belarus to 30 pct

European stock index futures signal losses

Germany likely closer to 2 pct 2010 growth- FinMin

Germany wants to release bank stress test results -report

European stock index futures signal falls

UPDATE 1-India cbank: inflation is bigger worry

India inflation at uncomfortable levels – adviser

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