Financial News

By Friedel Rother LONDON (Reuters) - Leading shares cruised to their biggest weekly gain in over six months on Friday, ending a volatile week on an upbeat note as rallying banks, miners and oil stocks combined with moderate U.S. inflation data to put the market firmly in positive territory. Miners, the driving force behind the benchmark FTSE index's recent swings, were among the biggest gainers. Kazakhmys (KAZ.L: Quote, Profile, Research) ended up nearly 6 percent, followed by gains of over 4 ...

By Mathieu Robbins LONDON (Reuters) - This month's stock market volatility could prompt a change in attitude as company chiefs, who had previously rejected bids, try to lock in deals before prices drop further, bankers and strategists said on Friday. The perception of continually-rising stock prices had helped companies such as HMV (HMV.L: Quote, Profile, Research) , Kesa Electricals (KESA.L: Qu ...

BASF's 2.7bn euro (£1.9bn) takeover of the construction chemicals business of German rival Degussa has been cleared by the European Commission. Competition officials said that even though both firms make similar products the purchase will not hurt the market. "The combined firm would continue to face several strong, effective competitors," the EC said. BASF, the world's largest chemicals firm, is looking to expand into a quick growing section of the industry. BASF said it will pay 2.2 ...

By Ritsuko Ando NEW YORK (Reuters) - Yahoo Inc. (YHOO.O: Quote, Profile, Research) and eBay Inc.'s (EBAY.O: Quote, Profile, Research) U.S. partnership could be the first step toward a global alliance that would be far more rewarding than a solely domestic agreement, analysts said on Thursday. Yahoo's strength and eBay's weakness in Asia, and vice versa in Europe, meant the world's bigg ...

This is Money26 May 2006 SLEEPING food giant Unilever sprang to life today, putting the brake on a poor performance by the shares that had seen them rattle back down from about 1300p since the start of the month. WANT TO KNOW MORE? READER SERVICE: Share dealing OTHER STORIES Star manager's top share tips Dealers get burnt by Equator Exploration Smaller companies report: Thursday cl ...

SAN FRANCISCO (Dow Jones) -- Markets in Brazil and Mexico recovered in tandem Thursday with a turnaround in the U.S., as investors looking for bargains resumed buying after several days of declines. In Brazil, shares rose sharply with the benchmark Ibovespa index surging 5.0% to 37468 points. The gain was the index's highest single-day percentage gain since Nov. 5, 2004. Blue-chip shares gai ...

(Updates an item that ran at 0400 GMT with added details, further comments and Mittal response) By Adam Cohen Of DOW JONES NEWSWIRES BRUSSELS -(Dow Jones)- Luxembourg steel giant Arcelor SA (5786.FR), which is resisting a EUR23 billion bid from Mittal Steel Co. (MT), Friday said it will merge with Russian steelmaker OAO Severstal (CHMF.RS). Under the deal, Severstal's controlling shareho ...

By Jeffrey Goldfarb LONDON (Reuters) - Media buying firm Aegis Group (AGS.L: Quote, Profile, Research) said on Friday it has no interest in merging with Havas, a French rival led by Vincent Bollore, who is also Aegis' biggest shareholder and trying to win seats on the board. Aegis urged its shareholders to vote against Bollore's two candidates for the board, saying they would have a conflict of ...

By Julien Ponthus BRUSSELS (Reuters) - Arcelor (CELR.PA: Quote, Profile, Research) has agreed to buy Russia's Severstal (CHMF.RTS: Quote, Profile, Research) to create the world's biggest steelmaker, in a move that would block Mittal Steel's (ISPA.AS: Quote, Profile, Research) bid for the European group. Arcelor said on Friday that the Severstal deal, announced just a week after Mittal improved its hostile cash and shares offer, would effectively value it at 44 euros per share, a premium of  ...

By Julien Ponthus BRUSSELS (Reuters) - Arcelor (CELR.PA: Quote, Profile, Research) said on Friday it has agreed to buy Russia's Severstal (CHMF.RTS: Quote, Profile, Research) to create the world's biggest steelmaker in a move that threatens to block Mittal Steel's (ISPA.AS: Quote, Profile, Research) bid for the European group. Arcelor said that the Severstal deal, announced just a week after Mittal improved its hostile cash and shares offer, would effectively value it at 44 euros per share, ...