>>> Africa Oil Corp Announces Farmouts in the Rift Basin Area and Adigala Blocks

Africa Oil Corp Announces Farmouts in the Rift Basin Area and Adigala Blocks in Ethiopia
- Under the terms of the Marathon Oil farmout agreement, Marathon Oil will acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil will maintain operatorship of the block, but Marathon Oil has the right to assume operatorship if a commercial discovery is made. In consideration for the assignment of this interest, Marathon Oil will pay Africa Oil an entry payment of $3 million in respect of past costs, and has agreed to fund $15 million of Africa Oil's working interest share of joint venture expenditures in the Rift Basin Area. Africa Oil and Marathon Oil are pleased to complete the final tranche of the farmout transaction originally announced in July 2012 (press release dated July 23, 2012). Completion of this transaction is anticipated in March 2014. Following completion, Africa Oil and Marathon Oil will each hold a 50% working interest in the Rift Basin Area.
- Under the terms of the New Age farmout agreement, New Age will acquire an additional 40% working interest in the Adigala Block, in Ethiopia. Following completion, Africa Oil's interest will be reduced to 10%. In consideration of the assignment New Age will carry Africa Oil's working interest share of a planned 1,000 kilometre 2D seismic work program in the Adigala Block. Completion of this transaction is anticipated in March 2014.

(BFW) Glencore Sales, Net Misses; Says Las Bambas Sale Process Ongoing

+------------------------------------------------------------------------------+

BN 03/04 07:06 *GLENCORE XSTRATA RECOMMENDED FINAL DISTRIBUTION OF $11.1C/SHR BN 03/04 07:06 *GLENCORE XSTRATA NET DEBT UP TO $35.8B BN 03/04 07:06 *GLENCORE XSTRATA '13 INDUSTRIAL ADJ EBITDA DOWN 4% TO $10.5B BN 03/04 07:05 *GLENCORE XSTRATA '13 ADJ. PRO FORMA NET INCOME $4.58B BN 03/04 07:01 *GLENCORE XSTRATA '13 ADJ PRO FORMA EBITDA OF $13.1BN BN 03/04 07:01 *GLENCORE XSTRATA ADJ EBITDA UP 17% BN 03/04 07:01 *GLENCORE XSTRATA GLEN PRELIMINARY RESULTS '13

+------------------------------------------------------------------------------+

Glencore Sales, Net Misses; Says Las Bambas Sale Process Ongoing 2014-03-04 07:08:12.933 GMT

By Tim Barwell March 4 (Bloomberg) -- 2013 reported sales $232.7b vs est. $247.8b * 2013 reported adj. net $3.67b vs est. $3.81b * 2013 pro forma Ebitda $13.1b, in line y/y * Las Bambas sale process ongoing * Glencore has 14 buys, 8 holds, 5 sells, avg. PT 371p (~14% upside): Bloomberg data * Conference call details, 9am uk: +44 (0)20 3427 1916, code 1095103#

Link to Statement:{NSN N1WGU33HHEDC <GO>} Link to Company News:{GLEN LN <Equity> CN <GO>}

For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}

To contact the editor responsible for this story: Tim Barwell at +44-20-7073-3512 or tbarwell@bloomberg.net

>>> What to look at today - 04/03/2014

US Market Closed lower on Geopolitical concerns, Commo higher with crude oil climbing 2.4%, Miners Outperformed, VIX @16,29 +16.36%...
Asia is trading in line with news in Ukrain and rebound with announcement of end of /"military exercise" of Russian Army in Cremia...Nikkei +0.47%....HS +0.81%...Shanghai -0.07%

Eur$ 1.3760 S&P fut +0.57% European Fut : +0.75%

>>> Keep an eye on :
- AKE FP : Arkema 2013 Net EU168M; Analyst Estimate EU191M
- ALCAR FP : first carmat artificial heart patient died
- BEI GY : Beiersdorf 2013 Adj. Ebit Rises to EU814m, Net Income Beats Est.
- BKIA SM : Soros, Schroders Bought Bankia Shares in Offering: Reuters Link
- BKIR ID : Deutsche Bank Offers 6.4% of Bank of Ireland in Bookbuild
- GAM SW : GAM Holding AUM Declines; Dividend Plan Beats Forecast
- NK FP : Amcol Says MTI’s Raised Offer May Lead to ’Superior Proposal’ {NSN N1VWJS6KLVSA <go>}
- LONN VX : Lonza Proposes Richmond, Steinemann for Board as Wilden Leaves
- NUM FP : Numericable Won’t Cut Jobs If It Buys SFR, Le Figaro Says
- RNO FP : Renault Trucks to Cut 508 Jobs in France, Les Echos Says
- ROG VX : Roche Will Remain Independent, Chairman Humer Says: BaZ
- RWE GY : RWE 2013 Recurrent Net Income Misses Est.; Confirms 2014 Targets, Keeps Year-Ahead Electricity Output Sale Stable at 90%
- STL NO : Statoil Says Norway Still Priority Amid Reduced Investment Plans
- THR BB : ThromboGenics Starts Jetrea Post-Marketing Patient Trial in U.S.
- FP FP : Total Wants to Sell Its 10% Stake in Shah Deniz Project: Echos
- VIV FP : Numericable Won’t Cut Jobs If It Buys SFR, Le Figaro Says
- VOD LN : Vodafone Said in Renewed Talks with Investors in Ono: Sky Link
- VOW GY : VW’s Lamborghini Sees 2014 Huracan Deliveries Exceeding 1,800
- ZAG AV : Zumtobel 3Q Loss Narrows After Revenue Rose 1.4% to EU292.4m

>>> Brokers Upgrades & Downgrades

>>> Up
*ABB RAISED TO BUY VS NEUTRAL AT CITI
*BANCO POPOLARE RAISED TO BUY VS NEUTRAL AT BOFAML
*CREDIT AGRICOLE RAISED TO BUY VS HOLD AT SOCGEN
*GRIFOLS (NON-VOTING ADR) RAISED TO OVERWEIGHT AT JPMORGAN
*INTERSERVE RAISED TO BUY VS HOLD AT LIBERUM

>>> Down
*ANGLOGOLD ASHANTI CUT TO SELL VS NEUTRAL AT UBS
*HENDERSON CUT TO REDUCE VS HOLD AT NUMIS
*LUFTHANSA CUT TO HOLD FROM BUY AT COMMERZBANK
*NATIXIS CUT TO HOLD VS BUY AT SOCGEN
*UNICREDIT CUT TO NEUTRAL VS BUY AT BOFAML
*WHITBREAD CUT TO NEUTRAL VS BUY AT BOFAML

>>> PT Change


>>> Initiation
*ROYAL MAIL RATED NEW UNDERPERFORM AT CREDIT SUISSE, PT 530P

>>> Call

>>> Vodafone resumes negotiations to buy Ono

Vodafone resumes negotiations to buy Ono 
 
Vodafone, an FTSE-100 telecoms company, has resumed takeover discussions with Spanish cable operator Cableuropa SA (Ono), Sky News reported on 3 March.

Vodafone is said to have recently resumed talks with Ono’s private equity backers about a deal that would value Ono at about EUR 7bn (USD 5.08bn), according to Sky News' City editor Mark Kleinman, who did not cite a source.

Kleinman described the talks as tentative and said it is understood that Vodafone is not optimistic about the prospects of persuading Ono’s owners to abandon a proposed listing and instead agree to a takeover by the UK-based telecoms giant.

Vodafone saw an initial offer for Ono rejected in February, the report added.

Kleinman went on to quote an insider, who said on 3 March that Vodafone will not overpay for Ono.

A report in Spanish newspaper Expansion on 8 February said private equity firms CCMP Capital Advisors, Providence Equity Partners, Thomas H Lee Capital and Quadrangle hold a combined stake of 55% in Ono.


Source Sky News, Expansion

(BFW) Amcol Says MTI’s Raised Offer May Lead to ™Superior Proposal’

PRN 03/03 23:33 AMCOL International Corporation Confirms Receipt of Revised, Unsolicited Proposal from Minerals Technologies
BFW 03/03 23:35 *AMCOL CONTINUES TO RECOMMEND TRANSACTION WITH IMERYS
BFW 03/03 23:34 *AMCOL INTL CONFIRMS RECEIPT OF REVISED OFFER FROM MTI
 BN 03/03 23:34 *AMCOL CONTINUES TO RECOMMEND TRANSACTION WITH IMERYS
 BN 03/03 23:33 *AMCOL: REVISED MTI PROPOSAL MAY LEAD TO SUPERIOR PROPOSAL
 BN 03/03 23:33 *AMCOL INTL CONFIRMS RECEIPT OF REVISED OFFER FROM MTI
 BN 03/03 23:33 *AMCOL INTL CONFIRMS RECEIPT OF REVISED, UNSOLICITED PROPOSAL
Amcol Says MTI’s Raised Offer May Lead to ’Superior Proposal’
2014-03-03 23:43:04.561 GMT


By Jay Miller
     March 3 (Bloomberg) -- Amcol confirms raised, $45/shr offer
from Minerals Technologies, says after consulting with advisers
that offer “could reasonably be expected” to lead to superior
proposal.
  * Continues to recommend Imerys’s $42.75/shr offer until board
    makes determination

Link to Statement:NSN N1VW3F3MMTC0 <GO>

For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--Editor: Jay Miller

To contact the reporter on this story:
Jay Miller in New York at +1-212-617-4371 or
bmiller63@bloomberg.net

To contact the editor responsible for this story:
Joanna Ossinger at +1-212-617-7789 or
jossinger@bloomberg.net

(BFW) Alexion Pharma Asked to Explain High Cost of Soliris by NICE

Alexion Pharma Asked to Explain High Cost of Soliris by NICE
2014-03-04 00:01:00.0 GMT


By Sheela Sharma
     March 3 (Bloomberg) -- U.K.’s National Institute for Health
and Care Excellence (NICE) asks Alexion Pharma to explain the
high cost of manufacturer of Soliris (eculizumab) for treating
atypical hemolytic uraemic syndrome (aHUS) in draft guidance.
  * Also asks for advice from NHS England on what considerations
    relating to management of its specialized commissioning
    budget it considers should be taken into account in
    formulating a recommendation
  * NICE comments in e-mailed statement
  * NOTE: Soliris approved for aHUS in EU and U.S.; also
    approved for treatment of paroxysmal nocturnal
    hemoglobinuria (PNH) in countries incl. U.K., U.S.

For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--Editor: James Cone

To contact the reporter on this story:
Sheela Sharma in London at +44-20-7392-0395 or
ssharma145@bloomberg.net

To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

(BFW) Stock Futures Jump After Russian Troops Pullback Report

Stock Futures Jump After Russian Troops Pullback Report
2014-03-04 06:21:59.565 GMT


By Bloomberg News
     March 4 (Bloomberg) -- S&P 500 futures rise as much as
0.9%, extending earlier advance after Interfax reports Putin
orders troops in military test to return to base.
  * Nikkei 225 futures jump 1.4%
  * HSI +1%
  * Gold slides 1%
  * MXAP Index +0.2%
  * MXAPJ Index +0.2%
    * Yen spot -0.4% to 101.81
  * Shanghai Composite -0.5%
  * Shenzhen Composite -0.6%
  * Sensex +0.9%
  * BSE 200 +0.8%
  * Straits Times Index +0.8%
  * KLCI -0.3%
  * Jakarta Composite Index -0.2%
  * SET Index +0.4%
  * VNI Index -0.8%


For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--Jack Gao. 

To contact Bloomberg News staff for this story:
Jack Gao in Shanghai at +86-21-6104-3030 or
ygao40@bloomberg.net

To contact the editor responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdahinten@bloomberg.net