FCA: Confirms probe related to competition in the UK credit card market
- Plans to conduct a review of the £150B credit card market.
British Pound vs US Dollar (UK) Chancellor Osborne: GBP currency decline has not helped the export sector as much as hoped - testimony to Parliament
- Should not rely on Sterling currency depreciation to boost exports
- UK economy showing more broad-based recovery.
- European markets are starting to pick up again after being 'flat on their back'
- Have to remain vigilant on household debt levels, even as household assets are rising faster than debt.
**Reminder: On Dec 23rd Trade Min Livingston stated that Britain needed to help medium-sized companies to export more if it sought to double its target to £1.0T by 2020
Total SA Secured the rights to explore three hard to recover oil blocks in West Siberia
- Also signed a memorandum to develop shale oil in Russia with Russia's Lukoil
PBoC: Reiterates to maintain prudent monetary policy, current economic conditions still in 'reasonable' zone
- Reiterates to maintain reasonable liquidity and credit growth.
- To maintain stable yuan at reasonable level.
**Insight: The "Prudent" monetary approach came into effect in December 2010 which replaced ""moderately loose" monetary policy.
- To maintain stable yuan at reasonable level.
**Insight: The "Prudent" monetary approach came into effect in December 2010 which replaced ""moderately loose" monetary policy.
Peugeot SA There is speculation that credit line could be increased to €3B - US financial press
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BN 04/03 09:12 *GENEL TO BUY BLOCK 38 INTEREST FROM CHINA SONANGOL FOR $59M BN 04/03 09:12 *GENEL: 15% WORKING INTEREST IN BLOCK 39 TO BE BOUGHT FOR $222M BN 04/03 09:10 *GENEL TO FUND SHR OF PURCHASE, DRILLING COST VIA CASH BALANCES BN 04/03 09:10 *GENEL: INTERESTS WILL BE BOUGHT THROUGH 2 SEPARATE TRANSACTIONS BN 04/03 09:10 *GENEL, WHITE ROSE TO BUY 15% WORKING INTERESTS IN BLOCKS 38,39 BN 04/03 09:10 *GENEL ENERGY GENL PURCHASE OF INTERESTS OFFSHORE ANGOLA
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Genel, White Rose to Buy 15% Working Interests in Angola Blocks 2014-04-03 09:13:16.40 GMT
By Gaurav Panchal April 3 (Bloomberg) -- Genel Energy, White Rose Energy Ventures to acquire 15% working interests in Blocks 38 and 39 offshore Angola. * Blocks 38, 39 are in Kwanza Basin, cover an area of c.14,000 sqkm in water depths of 1,500-2,500m * Interests to be acquired via 2 separate transactions * In each transaction, a 15% working interest will be acquired by a 50/50 Genel/White Rose joint venture company * Statement, blocks’ stakes details: {NSN N3G6SS3HBS3K <GO>} Link to Company News:{0517081D LN <Equity> CN <GO>} Link to Company News:{STL NO <Equity> CN <GO>} Link to Company News:{GENL 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: Gaurav Panchal at +44-20-7392-0511 or gpanchal2@bloomberg.net
*BP RATED NEW MARKET PERFORM AT BMO CAPITAL, PT 500P
*ENI SPA RATED NEW MARKET PERFORM AT BMO CAPITAL, PT €18
*ROSNEFT OAO RATED NEW UNDERPERFORM AT BMO CAPITAL, PT RUB 200
*ROYAL DUTCH SHELL RATED NEW OUTPERFORM AT BMO CAPITAL, PT £25
*TOTAL SA RATED NEW OUTPERFORM AT BMO CAPITAL, PT €55
SPAIN DEBT AGENCY (TESORO) SELLS TOTAL €5.58B VS. €4.5-5.5B INDICATED RANGE IN 2019, 2024 AND 2026 BONDS
- Sells €2.73B in 2.75% 2019 bono; Avg yield % v 1.991% prior; Bid-to-cover: 1.7x v 1.8x prior; Maximum Yield 1.899% (record low) v 2.004% prior; Tail bps v 1.3bps prior
- Sells €1.63B in 3.80% 2024 bono; Avg Yield % v 3.344% prior; Bid-to-cover: 2.1x v 2.8x prior; Maximum Yield: 3.308% v 3.356% prior; Tail: bps v bps prior
- Sells €1.23B in 5.90% 2026 bono; Avg Yield % v 3.997% prior; Bid-to-cover: 2.22x v 1.41x prior; Max Yield: 3.561% v 4.012% prior; Tail: bps v 3.5bps prior
- Sells €1.63B in 3.80% 2024 bono; Avg Yield % v 3.344% prior; Bid-to-cover: 2.1x v 2.8x prior; Maximum Yield: 3.308% v 3.356% prior; Tail: bps v bps prior
- Sells €1.23B in 5.90% 2026 bono; Avg Yield % v 3.997% prior; Bid-to-cover: 2.22x v 1.41x prior; Max Yield: 3.561% v 4.012% prior; Tail: bps v 3.5bps prior
Greece said to line up banks for €2B 5-yr bond, could occur in April
**Note: According to prior reports, Greece was speculated to sell bonds in H2 of 2014.
see attached