Financial News

PARIS (AFX) - Hedge fund Amber Master Fund has acquired an 11.65 pct stake in Vivendi SA's pay-tv unit Canal Plus SA as part of a bloc purchase, according to a filing with market regulator AMF. In a letter to AMF, Cayman Islands-based Amber said it may acquire further Canal Plus shares or sell shares depending on market conditions, and that it may ask for a say in management. Vivendi holds a 48. ...

LONDON (AFX) - Leading shares dropped further at the close, nearing session lows, as continued weakness among mining stocks and weak trading on Wall Street offset a host of vague merger and acquisition rumors, dealers said. At the close, the FTSE 100 index was down 41.3 points at 6,228.0, nearing day lows of 6,226.4, while broader indices were also negative. Volume was below average with 2.6 bln ...

LONDON (AFX) - Nasdaq Stock Market Inc. today all but ruled out raising its hostile 2.7 bln stg bid for UK rival London Stock Exchange Group PLC (LSE), leaving LSE shareholders to determine the final outcome of its long-running takeover attempt. Nasdaq had previously said it would be prepared to increase its 1,243 pence-per-share bid, rejected by the LSE as "woefully inadequate," provid ...

LONDON (AFX) - Leading shares dropped further in midafternoon trade as continued weakness among mining stocks and a soft start on Wall Street offset a host of vague merger and acquisition talk, dealers said. By 3.09 pm, the FTSE 100 index was down 38.5 points at 6,230.8, while broader indices were also negative. Volume was below average with 1.8 bln shares changing hands in 318,180 deals. On Wa ...

FRANKFURT (AFX) - German shares were down in afternoon trade as Wall Street opened flat. At 4.04 pm, the DAX was down 35.98 points or 0.54 pct to 6,655.21, while it traded between 6,659.45 and 6,731.36 this morning. The MDAX was 62.64 points lower or 0.64 pct to 9,655.21 and the TecDax was down 2.34 points or 0.29 pct to 802.11. DAX futures gained, adding 9.50 points or 0.14 pct to 6,717.00 and ...

(Adds detail, background) LONDON (AFX) - US corporate raider Samuel Heyman said he has raised his stake in bid target the London Stock Exchange PLC to 10.44 pct from 10.35 pct. In a regulatory filing, investment companies controlled by Heyman said they had bought an interest in a further 200,000 LSE shares, paying 1,286 pence per share. News of Heyman's continued stake-building came shortly aft ...

LONDON (AFX) - UK small caps remained lower at midday, reflecting weakness in the wider market, with a trio of profit warnings also dragging investor sentiment, traders said. The FTSE Small Cap index was 2.9 points down at 3,958 by lunchtime, while the FTSE 100 was 19 off at 6,250.3. Among the fallers, I-mate slumped 76 pence, or 43 pct, to 100 after the maker of Microsoft Windows-compatible mob ...

FRANKFURT (AFX) - German shares were down in morning trade, as Wall Street closed lower after disappointing economic forecasts and profit-taking. At 11.53 am, the DAX lost 16.14 points or 0.24 pct to 6,703.44, while it traded between 6,659.45 and 6,705.81 this morning. The MDAX dropped 61.29 points or 0.63 pct to 9,656.56 and the TecDax was down 5.72 points or 0.71 pct to 798.73. DAX futures ga ...

HOUSEBUILDER Crest Nicholson highlighted its attraction to bidders today by revealing higher profits and a 22 per cent jump in completions for last year. The company, which operates in the south east, south west and the midlands, added it was on track to increase completions by another 15 per cent this year. Crest is recommending a £700m takeover offer from a consortium featuring HBOS and tycoon ...

WEMBLEY: Theatre of woesTHE Australian builder of the much-delayed Wembley stadium complex saw its shares soar after it confirmed it had received a takeover approach. Shares in Multiplex, which suffered huge losses during the past year after severe delays to the completion of Wembley Stadium, jumped more than 17 per cent on the Australian stock market, after it said it was due to start talks with a potential bidder. The interested party, which has not been named, has already held talks with Mu ...