RIO may now be subject to a two way battle between BHP Billiton (BLT) and Xstrata (XTA), who may be
considering a bid. BSkyB (BSY) is facing up to
a £200m loss if it has to sell its stake in ITV. BP. should face
a $2bn fine over Texas City according to victims lawyers. Dana Petroleum (DNX) have
found oil in the North Sea.
Pendragon (PDG) say there is
no change in the
previously given outlook statement. Sports Direct's (SPD) directors have bought about a million pounds worth of shares.
Among the small-caps, Eckoh Technologies (ECK) is
in talks with three bidders according to the Telegraph, and EBT Mobile China has
also been approached, though it reminds its shareholders that it is not subject to the takeover code and therefore they are not protected by it. Debtmatters (DEBT) are reporting some higher revenues but disappointing performance and a strategic review which is
'progressing'.
Wolseley (WOS) has been
downgraded to hold from buy by Deutsche Bank.
FTSE is currently being called up 57 at 6402 by CMC. Dow futures are up 67 at 13,312. Australia has broken its seven day losing streak, the Hang Seng is up 2% and the Nikkei up 1.5% despite their
kansei fukyo. Cantor think we are seeing a 'sentiment move'.