Wolters Kluwer To sell several publishing assets and related activities in the Netherlands; Terms of the deal were not disclosed - Has reached agreements to sell several of its publishing assets and related activities in the Netherlands. The transaction involves Binnenlands Bestuur, Assurantie Magazine, and publications for general and financial management. - The move helps rebalance our European Legal & Regulatory operations towards specialized information tools and productivity solutions for legal professionals, and enables us to focus on long-term growth opportunities in this core customer segment. - Binnenlands Bestuur will become part of Adfo Groep, owned by Sijthoff Media Groep, a Dutch media company that publishes trade and consumer focused titles. The other assets will be sold to B+B Vakmedianet, a Dutch publisher of business-to-business titles.
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Possible Nokia Bid for Alcatel Wireless Is ‘Credible’: Barclays 2013-10-14 06:57:40.179 GMT
By Sam Chambers Oct. 14 (Bloomberg) -- If Nokia were to buy Alcatel’s wireless business it would benefit both cos., while creating a tougher competitor for Ericsson, Barclays says in note. * Says ex-U.S., global telco rev., Ebitda are falling; placing significant pressure on operator capex * Says growth is likely to return in Europe, although it won’t be sufficient to offset pressure in Japan, other mkts in which network upgrades have been largely completed * Barclays cuts Ericsson to underweight due to potential downside from M&A, possible rev. disappointment * Keeps PT of SEK68; a 20% downside to current price * Raises Alcatel to overweight, PT by 143% to EU3.30; 20% upside * Raises Nokia to equalweight, PT by 82% to EU5; 2% upside * NOTE: Telco equipment relative value here * NOTE: Alcatel reports 3Q results on Oct. 31, Nokia reports 3Q on Oct. 29, Ericsson reports 3Q on Oct. 24
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--Editor: Jurjen van de Pol
To contact the reporter on this story: Sam Chambers in London at +44-20-7673-2021 or schambers7@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net
Lundin Petroleum AB Announces the completion of wildcat well 6608/2-1S - The well was drilled in PL330 about 60 km east-southeast of the Aasta Hansteen gas field in the Norwegian Sea. - The exploration well 6608/2-1S, operated by RWE Dea Norge AS, was targeting the Sverdrup prospect. The well confirmed the existence of an active petroleum system but did not encounter reservoir rocks. The well is being plugged and abandoned as a dry hole. The well is the first exploration well in PL330.
Facebook Said to have acquired Tel Aviv-based Onavo - US financial press - The start-up firm (founded in 2010) has technology related to mobile application data.
Electricite de France France Fin Min Moscovici: No decision on whether to allow company to extend muclear reactors lifespan for an additional 10 years - press
Peugeot SA France Fin Min Moscovici: Company needs an industrial partner, declines to say if gov't will participate in capital raise
US Market cimbs while debt ceiling battle continues...no agreement during the week end and no real willingness of finding one... The focus moved the Senate, where a test vote for a $1T extension beyond the 2014 mid-term election did not receive the necessary 60 votes to move forward on the debating the legislation. Despite the setbacks in both houses over the weekend, Congressional leaders on both sides remained optimistic that a deal would be struck in the coming days, even though US equity markets are likely to be skeptical - S&P500 futures opened down 0.7%...Nikkei & Hang Send closed today...China trade data released over the weekend surprisingly disappointing (6 month lows and exports registering first decline in 3 months) Susequent comments from Customs official noting the data suggests "trend of low yet stable growth", but also looking to ease concerns indicating exports are expected to stabilise in the next 2-3 months. - China September CPI inflation was hotter than expected, rising above 3% for a 7-month high. Food component especially high, up 6.1% v 4.7% prior, while non- food is comparable to prior month at 1.6%. Sept PPI is in deflation territory for 19th consecutive month.
Eur$ : 1.3563 European Fut. Indicated lower by 30bps
Keep an eye on : - BMW GY : BMW sees China sales up 20.8% in Sep - BNP FP : BNP Paribas does not rule out acquisitions but is not interested in Commerzbank - CBK GY : Commerzbank Board Disagrees on Manager Dismissal: Handelsblatt - DSY FP : Dassault Systemes Apologizes as 3Q Falls Short of Targets - EAD FP : EADS CEO Tom Enders Says A380 Demand Will Recover, EADS Says Cannot Be Satisfied With A380 Sales Numbers - FCC SM : Santander, BBVA, Bankia, Popular, Sabadell, Caixabank have agreed to restructuring of FCC debt, El Confidencial - GALP PL : Galp Raised Net Entitlement Output, Processed More Crude in 3Q - INVP LN : Investec to Sell Offshore Unit to Salamanca for les than £10b Sunday Telegraph - KPN NA : KPN, America Movil Continue to Disagree on Valuation: Telegraaf - MT NA : Buy ArcelorMittal, See 75% Upside in Next 12-Mo., SocGen Says - UG FP : Peugeot Family Split on Capital Increase Participation: Tribune - SAND SS : Sandvik CEO Sees ‘More Positive Development’ in Europe, DI Says - SHP LN : Buy Shire, UBS Says; Expects a 3Q 10% Beat - VPOS NO : Hexagon Bids NOK28/Shr for Veripos; 22% Premium to Last Trade
BNP Paribas does not rule out acquisitions but is not interested in Commerzbank BNP Paribas does not rule out limited acquisitions but is not interested in acquiring Germany’s Commerzbank, the German-language daily Sueddeutsche Zeitung reported.
Baudouin Prot, Chairman of BNP Paribas' Board of Directors, told the paper that he would not rule out small acquisitions but added that he is not looking to buy a bank. Commerzbank is not on the agenda, Prot told the paper.
Source Sueddeutsche Zeitung
UP
*ALCATEL-LUCENT RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS *ANGLO AMERICAN RAISED TO BUY VS HOLD AT SOCGEN *ARCELORMITTAL RAISED TO OUTPERFORM VS NEUTRAL AT MACQUARIE *GULF KEYSTONE RAISED TO BUY VS NEUTRAL AT GOLDMAN *JOHNSON MATTHEY RAISED TO OVERWEIGHT AT JPMORGAN *Neste Oil Raised to Buy from Hold at Nordea *NOKIA RAISED TO EQUALWEIGHT VS UNDERWEIGHT AT BARCLAYS *TRAVIS PERKINS RAISED TO TOP PICK VS OUTPERFORM AT RBC
Down
*BUNZL CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *CHEMRING CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *CRODA CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *DELHAIZE CUT TO UNDERPERFORM VS HOLD AT JEFFERIES *EDP RENOVAVEIS CUT TO HOLD VS BUY AT BERENBERG *ENSCO CUT TO HOLD VS BUY AT SOCGEN *ERAMET CUT TO SELL VS BUY AT SOCGEN *ERICSSON CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS *GLENCORE CUT TO HOLD AT LIBERUM *INFINEON CUT TO NEUTRAL VS BUY AT BOFAML *QIAGEN CUT FROM UBS’S MOST PREFERRED LIST *PORTUGAL TELECOM CUT TO UNDERWEIGHT VS BUY AT SANTANDER *RBS CUT TO UNDERPERFORM AT BOFAML *SOCO CUT TO NEUTRAL VS BUY AT BOFAML
PT Changes
*ARCELORMITTAL PT RAISED TO EU18 VS EU11.5 AT SOCGEN, STAYS BUY
Initiation
*AMEC RATED NEW NEUTRAL AT MACQUARIE, PT 1,111P *CNH INDUSTRIAL RATED NEW SELL AT BERENBERG, PT $9.3 *GLANBIA RATED NEW OVERWEIGHT AT BARCLAYS, PT EU11.25 *HUNTING RATED NEW OUTPERFORM AT MACQUARIE, PT 874P *SALZGITTER RAISED TO HOLD VS SELL AT SOCGEN *WOOD GROUP RATED NEW OUTPERFORM AT MACQUARIE, PT 860P
Country Sector Stock Call
*AB FOODS ADDED TO THE UBS’S EUROPEAN KEY CALL LIST *ARCELORMITTAL ADDED TO SOCGEN PREMIUM LIST *LLOYDS REMOVED FROM BOFA’S EUROPE 1 LIST *ROCKHOPPER ADDED TO CONVICTION BUY LIST AT GOLDMAN *SHIRE, S&N ADDED TO UBS’S MOST PREFERRED LIST *VALEO REMOVED FROM SOCGEN PREMIUM LIST *WILLIAM DEMANT ADDED TO UBS’S LEAST PREFERRED LIST
Dassault Systemes Apologizes as 3Q Falls Short of Targets
3Q rev. up 4% ex currencies falls short of targeted growth of 8%-9%, co. says in a statement. * 3Q non-IRS EPS EU0.88, op. margin 31.6% * Co. cites transaction delays caused by lengthening of capex decisions and a shift to rental activity * Co. will reduce its 4Q rev. target because of these two factors and currency weakness in emerging economies * 4Q rev. may be as low as EU565M, which would represent growth of about 5% ex currencies * 4Q non-IFRS EPS target may be EU0.97 and non-IFRS op. margin about 34%, co. says * Co. to give new guidance on Oct. 24.