Financial News

LONDON (Reuters) - Citigroup is buying up to 150 million shares in airports operator BAA at 900 pence per share for Grupo Ferrovial -- which is leading a bid for BAA at that price, dealers said on Friday. That talk sent BAA's shares racing to a record high at 907p, above the Spanish construction firm's offer price for the first time. "We have heard Citi are buying up a stake for Ferrovial," said one dealer. Another dealer said the deal would be conditional on Citigroup managing to purchase at ...

By Sudip Kar-Gupta and Mark Meadows PARIS/LONDON (Reuters) - Euronext's shares (ENXT.PA: Quote, Profile, Research) rose on Friday after it agreed to be bought by the New York Stock Exchange (NYX.N: Quote, Profile, Research) in a $10 billion (5 billion pound) trans-atlantic deal, which will intensify pressure on rivals to find partners. The NYSE's deal to buy pan-European bourse Euronext for around 7.8 billion euros (5 billion pounds) will create the world's largest financial marketplace, wit ...

CHELSEA Football Club owner Roman Abramovich is said to be in talks with Corus over buying a stake in the Anglo-Dutch steel firm. Reports in Russia said the billionaire had started negotiations with Corus over taking a minority share of the company. Corus described the report as "speculation" but the rumours were well received in the City as Corus shares rose more than two per cent today to 400p, valuing the company at around £3.5bn. Advertisement your story continues below Shares in the ...

Abramovich was yesterday said to be in talks with Corus over buying a stake in the Anglo-Dutch steel firm.Reports in Russia said the billionaire had started negotiations with Corus over taking a minority share in the company. Abramovich, ranked by Forbes magazine as the world's 11th richest man, with an $18.2bn fortune, is best known in Britain for bankrolling Chelsea's championship winning team.C ...

Nick Goodway, Evening Standard2 June 2006 LONDON is poised to be a major beneficiary from last night's agreed $20bn (£10.7bn) merger of the New York Stock Exchange and Euronext. OTHER STORIES Council records are ID fraud gift Market report: Friday preview Warning on foreign homes risk Top two out of tune at Sony Six join queue for Brambles' Cleanaway THE EDITOR'S PICKS  ...

Geoff Foster, Daily Mail2 June 2006 THE temperature began to rise at Enodis as shares of the oven maker sizzled 6½p higher to 194p on meaty turnover of 8m amid red-hot gossip that a US counterbid is cooking. OTHER STORIES Market report: Friday preview Time to take a good look Windfalls 'mask massive losses' Dealers pack travel stocks in portfolio Names point to shares winners  ...

SAN FRANCISCO (Dow Jones) -- NYSE Group Inc. and Euronext NV agreed to merge late Thursday in a deal that would create a transatlantic exchange behemoth offering near round-the-clock trading in stocks, options and futures. The combination of what is already the world's largest stock exchange and the second-biggest European bourse operator would produce a business worth between $ 15 billion and  ...

By Megan Davies and Siobhan Kennedy NEW YORK/LONDON (Reuters) - The creation of the first trans-Atlantic stock exchange moved a step closer on Thursday, amid increased moves by the two major U.S. equity bourses to solidify relations abroad. NYSE Group Inc.'s (NYX.N: Quote, Profile, Research) Chief Executive said he expects to have a definitive agreement to combine with Euronext (ENXT.PA: Quote, ...

China’s benchmark share price index hit a two-year high on Thursday, capping a remarkable turnround in the fortunes of the country’s stock markets this year. // A-shares, the most liquid class of shares on the Shanghai and Shenzhen stock markets, rose amid talk of consolidation in the country’s overcrowded steel sector and of improved sentiment on local lenders following Bank of China’s Hong Kong initial public offering. The benchmark Shanghai Composite Index, which covers A-shares and the mor ...

By Jeffrey Goldfarb LONDON (Reuters) - Europe's independent record labels have registered their opposition to a combined Warner Music and EMI Group, before a deal has even been struck, saying any merger would impose new hurdles for indie artists. Impala, the industry's trade group, is still fighting to undo the 2004 merger of Sony Music and BMG using legal channels, with its case pending in the  ...