UPDATE 1-Kemira Q2 profit tops consensus, 2010 EBIT to rise

July 30, 2010 By Leave a Comment

HELSINKI, July 29 (Reuters) – Finnish chemicals firm Kemira (KRA1V.HE) reported higher second-quarter profit due to stronger demand across all its units, and predicted full-year earnings would rise year on year.

“Customer demand is getting stronger. Operating profit from continuing operations, excluding non-recurring items, is expected to grow notably from last year,” the firm said in a statement on Thursday.

April-to-June underlying operating profit rose 38 percent versus a year ago to 40.5 million euros ($52.7 million), at the top end of forecasts in a Reuters poll of analysts. Revenues rose 12 percent to 545 million, trumping all expectations.

“The recovery in demand which started at the end of the first quarter also continued in the second quarter,” said Kemira, a supplier of chemicals to the paper, oil and water industries. ($1=.7684 Euro) (Editing by Jon Loades-Carter)

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Taiwan stocks rise ahead of TSMC; HTC surges

July 30, 2010 By Leave a Comment

TAIPEI, July 29 (Reuters) – Taiwan stocks rose 0.18 percent
on Thursday with smartphone maker (2498.TW) rising by its maximum
daily limit after comments from Sprint (S.N) on strong demand for
one of HTC’s phones.

The main TAIEX share index .TWII ended up 14.18 points at
7,798.99, lifted by a 7 percent jump in HTC.

U.S.-based Sprint Nextel (S.N) said on Wednesday it lost
fewer valuable contact customers in the second quarter than
analysts expected, helped by its most advanced smartphone, the
EVO from HTC. [ID:nN28190638]

Heavyweight TSMC (2330.TW) reported a record quarterly profit
after the close of the market [ID:nTPV001793].

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Sterling hits 5-month high vs dollar

July 28, 2010 By Leave a Comment

July 27 (Reuters) – Sterling extended gains against the dollar on Tuesday, rising to a five-month high, as investors tentatively stepped into risk-taking trades. The pound rose as high as $1.5530 GBP=D4, its highest since late February. It was last at $1.5518, up 0.2 percent on the day. (Reporting by London forex team)

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TNK-BP H1 2010 profit rises to $2.43 bln

July 28, 2010 By Leave a Comment

July 27 (Reuters) – Russia’s third-largest oil producer, TNK-BP International (TNBPI.RTS), on Tuesday said net profit rose 21 percent to $2.43 billion for the first half of 2010, up from $2.01 billion in the same period of 2009.

TNK-BP International, half-owned by BP (BP.L), is the parent company of Moscow traded TNK-BP Holding (TNBPI.RTS).

(Reporting by Vladimir Soldatkin)

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Samsung SDI Q2 profit rises on increased demand

July 28, 2010 By Leave a Comment

July 27 (Reuters) – Samsung SDI Co Ltd 006400, the world’s No. 2 rechargeable battery maker, said on Tuesday its second quarter profit rose 33 percent, boosted by increasing demand for its component products.

The maker of lithium-ion batteries for mobile phones and plasma display panels for TVs reported a 68.4 billion won ($57.4 million) net profit for the three months ended June, compared with a 51.4 billion won net profit a year earlier.

The company had been expected to report a net profit of 66.2 billion won based on averaged estimates from 13 analysts surveyed by Thomson Reuters I/B/E/S.

(Reporting by Suh Kyung-min, editing by Ken Wills)

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Japan June copper cable shipments rise 5 pct yr/yr

July 24, 2010 By Leave a Comment

July 23 (Reuters) – Japanese copper wire and cable shipments rose 5 percent from a year earlier to an estimated 56,100 tonnes in June, an industry body said on Friday.

That was up from 49,708 tonnes in May, data from the Japanese Electric Wire and Cable Makers’ Association showed. (Reporting by Risa Maeda)

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India fuel inflation at 14.27 pct y/y as at July 10

July 23, 2010 By Leave a Comment

July 22 (Reuters) – India’s fuel price index rose 14.27 percent in the year to July 10, while the food price index climbed 12.47 percent, government data released on Thursday showed.

Fuel price inflation was flat on the previous week’s annual rise, while the pace of food price inflation accelerated from last week’s 12.81 percent.

The primary articles index was up 16.48 percent, compared with the previous week’s reading of 16.25 percent.

While normal rains would cool food inflation after last year’s spike following the worst drought in nearly four decades, a fuel price hike last month would keep pressure on the headline inflation.

Wholesale prices INWPI=ECI, the most closely watched inflation gauge in India, rose 10.55 percent in June from a year earlier, remaining above 10 percent for the fifth straight month. (Reporting by Rajesh Kumar Singh; editing by Malini Menon)

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Seoul shares rise on earnings hope;Hyundai Motor up

July 21, 2010 By Leave a Comment

July 20 (Reuters) – Seoul shares rose 0.3 percent Tuesday on expectations that major exporters such as Hyundai Motor (005380.KS) would report robust earnings.

The Korea Composite Stock Price Index (KOSPI) gained 0.28 percent to 1,736.77 points.

(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)

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Ryanair Q1 profit falls on ash, keeps FY forecast

July 21, 2010 By 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)

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Japan June crude steel output rises 35.9 pct yr/yr

July 21, 2010 By Leave a Comment

July 20 (Reuters) – Japan’s crude steel output rose 35.9 percent in June from a year earlier to 9.35 million tonnes, the Japan Iron and Steel Federation said.

Output, which is not seasonally-adjusted, declined 3.8 percent from May. (Reporting by Yuko Inoue)

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China H1 insurance premiums up 33.6 pct y/y -CIRC

July 20, 2010 By Leave a Comment

July 19 (Reuters) – China’s overall insurance premiums in the first six months rose 33.6 percent from a year earlier to 799.9 billion yuan ($118 billion), the China Insurance Regulatory Commission (CIRC) said at a news conference on Monday.

That was slower than the 38.6 percent rise in the first quarter of the year. (Reporting by Aileen Wang and Simon Rabinovitch; Editing by Ken Wills) ($1=6.775 Yuan)

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India Tata Motors June global sales up 46 pct

July 16, 2010 By Leave a Comment

July 15 (Reuters) – India’s Tata Motors (TAMO.BO) on Thursday said its global vehicles sales rose 46 percent in June to 91,608 units, compared with a year ago.

The figure includes its British luxury unit Jaguar Land Rover, whose sales rose 47 percent in the month to 20,189 units, the company said in a statement. (Reporting by Janaki Krishnan)

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UPDATE 1-Smiths News 19 weeks revenue up 37.7 pct

July 16, 2010 By Leave a Comment

(Reuters) – British newspaper and magazine distributor Smiths News Plc (SNWS.L) said on Thursday its revenue for the 19 weeks to July 10 rose 37.7 percent, helped by the acquisition of book wholesaler Bertrams and contracts received in 2009.

However, the company said newspaper like-for-like sales fell 4.5 percent, partly due to promotional price discounting by the tabloids, while magazine like-for-like revenue was down 1.6 percent.

Smiths News expects the relocation of Bertram Library Services to Norwich from its existing site in Leeds to be completed early in the next financial year. This will reduce costs, it said.

The company. which continued to trade in line with expectations, also said it was operating well within its bank facilities.

Smiths News shares closed at 111 pence on Wednesday on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)

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India fuel inflation at 14.27 pct y/y as at July 3

July 16, 2010 By Leave a Comment

July 15 (Reuters) – India’s fuel price index rose 14.27 percent in the year to July 3, while the food price index climbed 12.81 percent, government data released on Thursday showed.

Fuel price inflation eased from the previous week’s annual rise of 18.02 percent, while the pace of food price inflation edged up marginally from last week’s 12.63 percent.

The primary articles index was up 16.25 percent, compared with the previous week’s reading of 16.08 percent.

Wholesale prices INWPI=ECI, the most closely watched inflation gauge in India, rose 10.55 percent in June from a year earlier, remaining above 10 percent for the fifth straight month. (Reporting by Rajesh Kumar Singh and Matthias Williams; editing by Malini Menon)

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Nikkei slips from 3-wk highs on investor economy worry

July 16, 2010 By Leave a Comment

July 15 (Reuters) – Japan’s Nikkei average fell 1.1 percent on Thursday after the Federal Reserve’s caution on the U.S. economic recovery and souring near-term technicals prompted investors to take profits after a jump this month to three-week highs.

The benchmark Nikkei shed 109.71 points to 9,685.53, after falling as low as 9,667.00 at one stage. On Wednesday, the index rose nearly 3 percent to hit its highest close since late June.

The broader Topix lost 1.6 percent to 856.60 on Thursday. (Reporting by Aiko Hayashi)

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H&M says June same-store sales up 9 pct y/y

July 16, 2010 By Leave a Comment

July 15 (Reuters) – Swedish fashion giant Hennes & Mauritz (HMb.ST) reported on Thursday sales at its established stores rose 9 percent in June year-on-year.

Total sales were up 20 percent.

The figures compared with an average forecast for a drop of 9.6 percent at stores operating for more than one financial year and a 21 percent rise in total sales.

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Intel pushes Taiwan stocks to 2-month closing high

July 15, 2010 By Leave a Comment

July 14 (Reuters) – Taiwan stocks rose 1.54 percent to a two-month closing high on Wednesday, with chipmakers including TSMC (2330.TW) and computer firms leading gains after Intel’s (INTC.O) better-than-expected outlook fanned optimism over their business outlook.

The main TAIEX share index ended up 117.09 points at 7,714.51, a level not seen since May 14.

The biggest winner was the peripheral equipment sub-index .TCPI, rising 2.59 percent, while the semiconductor sub-index .TSII climbed 1.86 percent.

(US$1=T$32.1) (Reporting by Faith Hung)

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European shares set to rise after Alcoa results

July 14, 2010 By Leave a Comment

July 13 (Reuters) – European shares were set to rise for the sixth straight day on Tuesday, with sentiment supported by stronger-than-expected quarterly profit from U.S. firm Alcoa (AA.N), which reported earnings after U.S. markets closed.

Financial spreadbetters expected Britain’s FTSE 100 .FTSE to open between 25 and 35 points higher, or up 0.7 percent; Germany’s DAX .GDAXI was seen opening up 11 to 21 points, or up 0.4 percent and France’s CAC 40 .FCHI was expected to open 17 to 18 points higher, or 0.5 percent higher.

The FTSEurofirst 300 .FTEU3 index of leading European shares rose 0.4 percent to close at 1,025.76 points on Monday. (Reporting by Harpreet Bhal)

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Port Hedland June total iron ore exports up 1.7 pct

July 13, 2010 By Leave a Comment

July 12 (Reuters) – Iron ore shipments via Australia’s Port Hedland rose 1.7 percent to 15.276 million tonnes in June from 15.02 million tonnes in May, according to port authority figures released on Monday.

China remained the largest destination with shipments of 10.59 million tonnes, up from 9.98 million tonnes in May.

BHP Billiton Ltd/Plc (BHP.AX)(BLT.L) is the port’s biggest user followed by Fortescue Metals Group Ltd (FMG.AX). (Reporting by James Regan; editing by Balazs Koranyi)

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India May industrial output up 11.5 pct y/y-govt

July 13, 2010 By Leave a Comment

July 12 (Reuters) – India’s industrial output INIP=ECI in May rose at a slower-than-expected 11.5 percent from a year earlier, data showed on Monday.

The median forecast in a Reuters poll was for an annual rise of 16 percent.

Manufacturing output INMFG=ECI rose an annual 12.3 percent, the federal statistics office said in a statement.

Industrial output rose 10.4 percent in the 2009/10 fiscal year (April-March) INIPC=ECI, faster than the 2.8 percent clocked in the previous fiscal year. (Reporting by Rajesh Kumar Singh; editing by Malini Menon)

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