profits ahead of last years.the company has 80% interest in a joint venture with china national petroleum corp(cnpc).market makers bought a lot of stock on friday followed by big buys on monday.profit taking on tues am then buyers back in pm.any views?

Siemens eyes Asia as key to telecoms growth
http://uk.biz.yahoo.com/051115/94/fwwxu.html

Good to hear that..

http://www.moneyam.com/action/news/showArticle?id=1055966

http://www.moneyam.com/action/news/showArticle?id=1055424

Thanks Ahoj

Suggestion use the link button above to inbed links into posts, Saves having to copy and paste into address bar. took me for ever to pick up on it.

couple that you may of missed durring the night.

http://www.moneyam.com/action/news/showArticle?id=1055321

http://www.moneyam.com/action/news/showArticle?id=1055424


regards

FTO has invested in one of the fastest growing markets in one of the fastest growing countries, but share price has beeen one the weakest in the market in recent years. IMO
How long can it go like this?

http://news.bbc.co.uk/1/hi/business/4455594.stm


BP buys stake in China fuel firm

BP is buying a stake in China's main jet fuel importer China Aviation Oil (CAO) for an, as yet, undisclosed sum.
A spokesman for CAO, which is turning itself around after near collapse last year, also declined to give any details on the size of the stake BP is buying.

Reports say the UK's BP is buying 23% of CAO, which is based in Singapore but majority owned by Chinese state firm China Aviation Oil Holding Company.

CAO ran up huge losses last year betting on the future price of oil.

It lost about $550m (320m) during the scandal, the biggest to hit Singapore since the $1.2bn collapse of Barings Bank in 1995.

Fast-growing market

The new deal will allow BP, the world's second largest oil company, to increase its small presence in China's tightly state-controlled, but fast-growing, oil market, now the second largest in the world.

BP currently owns a 24% stake in another Chinese jet oil company, South China Bluesky Aviation Oil, which supplies 15 civilian airports.

A BP spokeswoman said the company was not immediately able to comment.

BP boss Lord Browne visited China at the start of this month, meeting government officials and executives from the country's three largest oil producers.

Sorry to be dumb, but what effect does the CAO and BP deal have on FTO?

BP has an interest FTO if I am not mistaken (Bluesky), and CAO and FTO do the same things, that BP are expanding into this area that FTO by itself are in (aviation fuel), can lead to some speculation.

The recent move by FTO into natural gas might be a change of policy, with FTO selling out or reducing the aviation fuel side, to the likes of BP ?

Its sector related, so worthy of note.

carlosmac, these posts at AFN discus it a bit, hope it helps.


pricemilne5 - 21 Nov'05 - 13:23 - 3340 of 3343
Very interesting news. Perhaps we will see a steady rise now. furthermore who's to say that BP are only buying into CAO, they have billions of spare capital sloshing around their coffers after the latest oil price spike, and the only way they can really grow is to buy!

roma77 - 21 Nov'05 - 13:59 - 3341 of 3343
Thanks rwcarlos for bringing the BP news to my attention on the cyc thread, much appreciated.

Yes, very interesting news. I wonder if BP might make an offer for FTO's 24% stake in Bluesky, would have to be a very good price much higher than what cao offered over a year ago. Interesting times ahead methinks.

Graham4mon - 21 Nov'05 - 14:11 - 3342 of 3343
Roma77, as BP already have 24.5% of South China Bluesky Aviation Refuelling I'm not sure that the Chinese Government would be too pleased to see them increase their holding to 49%, as I seem to have read recently that they have been resisting BP trying to buy into the oil & gas operations of the Chinese oil majors on the mainland. All IMHO of course.

roma77 - 21 Nov'05 - 14:25 - 3343 of 3343
Hi Graham,
I had the same thought as u but then I remembered that if CAO had bought fto's 24.5% stake of Bluesky, CAO and its sister company China Aviation Oil Supply Corp would have jointly held 75.5 pct of Bluesky. Well, we will just have to wait and see what happens.

Thank you very much PP.

FTO putting together a decent run over the last couple of days. Is this the support required to launch an assault on the highs of 10p?

I think if we get some positive news the sp will fly through 10

There might be news on the JV coming or an update on gas, this one is like some others, it moves up ahead of news and then moves again on news.

Could be a strong run to year end.

does appear to be something in the wind. A day of heavy trading, just need some news early next week to keep momentum going.

tau the momentum should continue next week, and yes some news would certainly give it a boost up.

Some good news just out for many stocks dealing in China, but in particular for FTO and ACHL which I am following closely now;


China's yuan at post-revaluation high of 8.0798/dollar

BEIJING (AFX) - China's yuan was at a post-revaluation high of 8.0798 to the
dollar on the interbank market in the morning session, traders said.
'The yuan is now quoted at 8.0798/99,' said a Beijing-based foreign exchange
trader, after the currency moved past the 8.08 level.
After months of intense US pressure, China on July 21 freed the yuan from an
11-year-old peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate 2.1 pct against the US currency.
The yuan closed at 8.0825 yesterday, appreciating 0.34 pct since the
revaluation.
In the past month, the yuan has traded between 8.0805 and 8.0877.
Last Thursday, the foreign exchange regulator announced it was introducing a
market maker system - a move seen as a precursor to liberalizing the currency.
The US Treasury released a report overnight which said it did not view China as a currency manipulator because of 'initial steps' in moving towards a floating currency.
allen.feng@xinhuafinance.com

this has got to be the most boring share up 1%...down 1% why not just leave it where it is ....would be nice just to see a gentle rise up to 10p ...at this rate it will take 10yrs to get there lol

not so boring now but in wrong direction

biffa18 - I'll admit that FTO has been pretty dull for about a year or so now. But I bought in at 1.5p and the ride up to 10p was pretty fun. Static at the moment but more to come I feel.....

Queen1
yep yr right im in at lower as well but would be nice to see some pos news sometimes ...i went into this and ashtead recently ,now if it was to do a ashtead ,now that would be nice ! i see they dropped it yest to let someone in with 400 + k

Indeed. I have to admit that with all of the favourable conditions around in its markets at present I'm a little surprised that FTO hasn't kicked on. I still think it's there, just not sure where it's hiding!