(BFW) German Manufacturing Index Signals Expansion for Seventh Month

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German Manufacturing Index Signals Expansion for Seventh Month 2014-01-23 08:35:37.981 GMT

By Alessandro Speciale Jan. 23 (Bloomberg) -- German manufacturing may expand at a faster pace this month, according to a survey of purchasing managers released today by London-based Markit Economics. * An advance reading of the index rose to 56.3 from 54.3 in December * The median of a Bloomberg News survey of 31 analysts predicted an increase to 54.6 * NOTE: A reading above 50 indicates expansion * NOTE: German ZEW Investor Confidence Unexpectedly Fell in January NSN MZQYSM6K50Y4 <GO> * NOTE: China Manufacturing Index Signals Surprise Contraction: Economy NSN MZUEL86JTSG5 <GO>

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

--With assistance from Kristian Siedenburg in Vienna.

To contact the reporter on this story: Alessandro Speciale in Frankfurt at +49-69-9204-1201 or aspeciale@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at +44-20-7673-2841 or cstirling1@bloomberg.net

(BFW) Statoil Seeks NK1b Norway Onshore Cost-Cuts in 3 Years, NTB Says

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Statoil Seeks NK1b Norway Onshore Cost-Cuts in 3 Years, NTB Says 2014-01-23 07:59:21.288 GMT

By Mikael Holter Jan. 23 (Bloomberg) -- Statoil internal document shows co. spends more work hours operating Norway onshore processing, refining facilities than competitors, NTB reported, citing Stavanger Aftenblad. * Mongstad refinery posted loss in 2013 after profit year earlier, NTB says, citing Stavanger-based newspaper * NOTE: Statoil Outsources IT, Facility Mgmt, Finance and Control Ops: See Jan. 14 story NSN MZDTG26K50YR <GO>

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

--Editor: Alastair Reed

To contact the reporter on this story: Mikael Holter in Oslo at +47-22-00-8209 or mholter2@bloomberg.net

To contact the editor responsible for this story: Alastair Reed at +47-22-00-8212 or areed12@bloomberg.net

>>> Sony: Third Point calls for restructuring in PC and TV businesses, could con

Sony: Third Point calls for restructuring in PC and TV businesses, could consider shareholder proposals at EGM 


Sony major shareholder Third Point, the US hedge fund, is calling for restructuring in the Japanese electronics company’s personal computer and television businesses, the Nihon Keizai Shimbun reported.

The Japanese-language report cited the contents of a letter sent to Sony by Third Point, which said, while praising the sales figures of the new game system Sony began selling last fall, that Sony needs to make serious efforts at restructuring its personal computer and televisions businesses. Regarding Sony’s refusal to accept Third Point’s proposal to split off the entertainment business and take it public, the hedge fund said that as a shareholder it suffered. Third Point emphasized that its wants Sony CEO Kazuo Hirai to make difficult decisions needed to increase profits.

According to a person related to the situation, if Sony is unable to reach the goals it has set Third Point will consider making shareholder proposals at this year’s general shareholder meeting. In contrast to the orders for Sony, Third Point cited Softbank president Masayoshi Son, who has raised the corporate value of Softbank, as one of the world's leading managers, the report said.

Third Point holds about a 7% stake in Sony and around a 1% stake in Softbank, the report said.

Sony has a market capitalization of JPY 1.824tn (USD 17bn).


Source Nihon Keizai Shimbun

>>> Celesio shareholders Haniel and Elliott close to agreeing on McKesson takeov

Celesio shareholders Haniel and Elliott close to agreeing on McKesson takeover 

Celesio shareholders Haniel and Elliott are thought to be close to an agreement in which McKesson would acquire majority control of the German pharmaceutical firm, Boersen-Zeitung reported.

The German-language daily said Haniel is expected to take over the Celesio stake held by the financial investor Elliott and then sell it, together with the German family-owned holding's prior stake, to US suitor McKesson, citing undisclosed sources.

Haniel has a roughly 50% stake in Celesio and Elliott has access to about 30%, according to the newspaper. The report noted that McKesson's potential acquisition of these combined shares would trigger a mandatory takeover offer.

McKesson failed earlier this year in a EUR 6.2bn attempt to take over Celesio.

Source Boersen-Zeitung

>>> What to look at today -23/01/2014

US Market closed mixed onece again in unspiring trading session, lot of companies have reported after hours... VIX @ 12.84 -0.23% SKEW @138.92 +0.11%...Volume were light @ 550mil shres...NFLX jumped on strong Q4...China HSBC flash manufacturing PMI contracts for the first time in 6 months, sending regional stock and US equity futures lower; New orders component also falls into contraction, while new export orders - gauge of overseas demand - accelerated the pace of decline. HSBC chief economist noted the data reflect "cooling domestic demand conditions" implying "softening growth momentum."...PBoC injects another CNY120B through open market operations following a
CNY255B injection on Tuesday. Money market rates were steady despite the multi- month high injection of fresh liquidity into the system going into the Lunar New Year holidays....Nikkei -0.80%...Shanghai -0.39%

Eur$1.3545 S&P Fut -0.26% European Fut -0.10%


Keep an eye on
- BA/ LN : Pentagon May Give Away 13,000 Trucks, Flooding Industry: { http://on.wsj.com/1muBlvU}
- CLS1 GY : Haniel, Elliott Close to Agreement Over Celesio Stake: Boersen
- DELB BB : Delhaize Meets Own Guidance; 4Q Rev. EU5.34b vs Est. EU5.34b
- EZJ LN : EasyJet 1Q Rev/Seat up 3.4%; Sees Wider 1H Pretax Loss
- OGZD LI : Gazprom 3Q Adj. Net RU276b Beats Est. RU259.4b
- G IM : Generali Will Sell BSI ‘For Sure’ CEO Greco Says in Interview
- GSK LN : Could be interested in ARIAD Pharma ( ARIA US ) - daily mail {http://dailym.ai/1hNnukb}
- LEG GY : indicated -4.3% after GS placing 15m sahres yesterday night (28.65% of Cap.)
- LONN VX : Lonza FY Net Slumps to CHF87m; Sales Miss Ests., Ebit In-Line
- MMB FP : Lagardere Has Three Offers for Its Magazines, Le Figaro Says
- RAUT FH : SSAB, Rautaruukki Deal Valuation Not Compelling, BofAML Says
- RCO FP : Remy Cointreau Opens Geneva Office With 20 Staff: Le Temps--> Speculation of family moving before selling?
- SCMN SW : Swiss Govt Cuts Swisscom Stake to 51.22%
- SHP LN : Could be interested in ARIAD Pharma ( ARIA US ) - daily mail {http://dailym.ai/1hNnukb}
- SKYD GY : Sky Deutschland Most Likely Target for Fox, Macquarie Says {NSN MZUDK86S972B <go>}
- SLIGR NA : Sligro 2013 Net Income EU68m, Est. EU70.9m
- SVT LN : share gain on bid approach
- GLE FP : Socgen Compensates Employee Shareholders Over Kerviel: Le Figaro {NSN MZUBGF6S972C <go>}
- TFI FP : Canal+ Files Competition Authority Complaint Vs TF1: Le Figaro
- VAC1V FH : Vacon Says Rev Grew 3.8% in 2013 Vs Prior Estimate 5-15%
- VIV FP : Canal+ Files Competition Authority Complaint Vs TF1: Le Figaro

>>> Brokers Upgrades & Downgrades - 23/01/2014

>>> Up
*AEGON RAISED TO BUY VS NEUTRAL AT BOFAML
*ASSORE RAISED TO BUY VS SELL AT UBS
*BOVIS HOMES RAISED TO BUY VS NEUTRAL AT BOFAML
*CRODA RAISED TO EQUALWEIGHT AT BARCLAYS
*HAMMERSON RAISED TO EQUALWEIGHT AT MORGAN STANLEY

*JUPITER RAISED TO BUY VS HOLD AT SOCGEN
*K+S RAISED TO EQUALWEIGHT AT BARCLAYS
*RAUTARUUKKI RAISED TO EQUALWEIGHT VS UNDERWEIGHT:MORGAN STANLEY
*REMY COINTREAU RAISED TO NEUTRAL VS SELL AT CITI
*SSAB RAISED TO NEUTRAL VS REDUCE AT NOMURA
*SAMPO RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SOCIETE GENERALE RAISED TO OUTPERFORM VS SECTOR PERFORM AT RBC
*STRAUMANN RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX
*YARA RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS

>>> Down
*AKZO NOBEL CUT TO UNDERWEIGHT AT BARCLAYS
*ASOS CUT TO NEUTRAL VS BUY AT GOLDMAN
*BRUNEL INTERNATIONAL CUT TO HOLD VS BUY AT KEPLER CHEUVREUX
*CAPITEC BANK CUT TO NEUTRAL VS BUY AT UBS
*CASINO CUT TO NEUTRAL VS BUY AT GOLDMAN
*DNO INTERNATIONAL CUT TO SELL VS NEUTRAL AT GOLDMAN
*DSM CUT TO NEUTRAL VS OUTPERFORM AT MACQUARIE
*GENEL ENERGY CUT TO NEUTRAL VS BUY AT GOLDMAN
*GULF KEYSTONE CUT TO NEUTRAL VS BUY AT GOLDMAN
*INDITEX CUT TO NEUTRAL VS BUY AT GOLDMAN
*KOMAX CUT TO NEUTRAL VS BUY AT UBS
*LANXESS CUT TO UNDERWEIGHT AT BARCLAYS
*SEVERN TRENT CUT TO UNDERPERFORM VS NEUTRAL AT CREDIT SUISSE
*YAPI KREDI CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY

>>> PT Changes
*DIASORIN PT RAISED TO EU36 VS EU34 AT BERENBERG; KEPT AT HOLD
*Telecom Italia Ord PT Raised to EU0.65 vs EU0.62 at Barclays

>>> Initiation
*HAYS RATED NEW HOLD AT KEPLER CHEUVREUX; PT 150P
*MONCLER RATED NEW NEUTRAL AT NOMURA; PT EU14
*SCHNEIDER RESUMED NEUTRAL AT BOFAML, PT EU68


>>> Call
>> Stock
*DSM REMOVED FROM BOFAML'S EUROPE 1 LIST