Financial News

(Updating with full report) LONDON (AFX) - Leading shares picked up again in late deals to close a touch higher as Wall Street recovered losses following weaker-than-expected ISM manufacturing data, with UK telecoms boosted by sector consolidation news, dealers said. The FTSE 100 index ended 7.5 points ahead at 6,315.5, off an early morning high of 6,342.2 but having recovered from a midafternoo ...

(updating with full report) PARIS (AFX) - Paris shares closed moderately higher, boosted by gains for the telecoms and retail sectors, while Eiffage shares recouped earlier losses amid continuing speculation over Sacyr Vallehermoso's intentions ahead of the AGM on April 18, dealers said. The CAC-40 index finished up 11.40 points or 0.20 pct at 5,645.56. Volume for the day was 5.1 bln eur. Amon ...

DALLAS (AP) - TXU Corp. said Monday that it hasn't received a better offer than the $32 billion buyout bid led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group, and TXU's financial adviser doesn't expect a higher bid. The KKR-Texas Pacific bid would be the largest private takeover in U.S. corporate history. TXU said it had "solicited interest" from more than 70 potential bu ...

LONDON (AFX) - The combined value of merger and acquisition deals announced worldwide during the first three months of 2007 came in at 1.1 trln usd, a 27 pct increase on the same period last year, according to new research from Thomson Financial. The figure represents a slight decrease from the final quarter of 2006, which ranks as the busiest three-month period for M&A on record. The US  ...

New Century Financial, one of the largest sub-prime lenders in the US, has filed for Chapter 11 bankruptcy. New Century sought protection from creditors after it was forced by its backers to repurchase billions of dollars worth of bad loans. Shares in the company were suspended in March on fears it may be heading for bankruptcy, following a sharp rise in people defaulting on their loans. Sub-prime lenders target customers with poor credit histories. 'Tip of the iceberg' Leading US econom ...

LONDON (AFX) - Leading shares fell back midafternoon, under pressure from negative trading on Wall Street following lower-than-expected ISM manufacturing data, which offset earlier M&A-related gains on both sides of the Atlantic, dealers said. At 3.12 pm, the FTSE 100 index was 10.9 points ahead at 6,297.1, while the broader FTSE indices remained mixed. Volume was below average, however, wit ...

FRANKFURT (AFX) - Shares were slightly higher in midday trade, but order volume was dampened by an anticipated largely flat opening on Wall Street and traditionally lower trade during the shortened week before the Easter holidays, dealers said. At 2.55 pm, the DAX was up 21.16 points or 0.31 pct to 6,938.19, after trading between 6,891.80 and 6,941.58 earlier in the session. The MDAX was 13.98 p ...

(updates with further detail throughout) LONDON (AFX) - Tesco PLC, the UK's biggest supermarket chain, has submitted its response to the Competition Commission's (CC) 'Emerging Thinking' on the sector, stating all the evidence before the CC indicates the UK grocery market is "fiercely competitive". The retailer also stated it does not think there "need be any concern" about t ...

FRANKFURT (AFX) - Shares were slightly higher in midday trade, as a lower close on the Nikkei and a predicted flat opening to trade across the Atlantic dampened most of the positive momentum created from the Dow's higher close on Friday, dealers said. A few companies issuing full-year results provided excitement among small-caps stocks, but mid and large caps remained virtually unchanged from yes ...

LONDON (AFX) - UK blue-chips remained up at midday but off morning highs ahead of an expected weaker start on Wall Street, with BT Group still among the top FTSE gainers on the back of fresh sector consolidation news, dealers said. At 11.49 am, the FTSE 100 was 13.10 points firmer at 6,321.1, but off an earlier high of 6342.2, with the broader indices mixed. Volume was average with 1.01 bln shar ...