Shares News

PASADENA, Calif. (AFX) - Avery Dennison, which makes labels and other office products, said its board authorized an increase of 5 million shares in its stock repurchase program, bringing the total authorization to about 7.4 million shares. The board also increased the quarterly dividend by 2.6 percent, to 40 cents per share. The dividend is payable Dec. 20 to shareholders of record Dec. 6. Aver ...

LONDON (AFX) - German shares were firmer late morning, but below the 6,300 level with VW in focus after its 9-month trading update came in above expectations, while earlier signalling its intention to increase its stake in MAN. At 11.10 am, the DAX was up 13.62, or 0.14 pct at 6297.21, with the MDAX down 35.54, or 0.41 pct 8.718.61. The TECDAX was off 1.6 or 0.24 pct at 690.24. The DAX future wa ...

LONDON (Dow Jones) -- Volkswagen AG and Peugeot Citroen, Europe's two largest carmakers, reported quarterly results on Friday that were weighed down by restructuring costs for the German company and shrinking margins for its French rival, illustrating the continuing difficult trading environment in the car industry. Volkswagen, Europe's No. 1 carmaker, said third-quarter profit fell 92% to 23 mil ...

HONG KONG (Dow Jones) -- Industrial & Commercial Bank of China came to the market, and investors went to the bank. Shares in one of China's "big four" state-owned banks advanced 15% in trading on the Hong Kong exchange on Friday, matching what the market had expected from the debut of the world's largest-ever initial public offering. "It's pretty spectacular to be honest, I am amazed tha ...

SAN FRANCISCO (Dow Jones) -- Power provider Allegheny Energy Inc. reported late Thursday a surge in third-quarter earnings, with a rise in generating rates in Pennsylvania, lower operating costs and a tax break combining to outpace a slump in sales and the rising price of coal needed to fire its power plants. For the quarter, Allegheny (AYE) posted net income of $110.2 million, or 65 cents a sh ...

HONG KONG (Dow Jones) -- Shares of Industrial & Commercial Bank of China debuted 17.5% higher in early trading in Hong Kong Friday before easing to a 15% gain as trading progressed, in line with market expectations of a strong debut for the world's largest-ever initial public offering. ICBC rose as much as 10.2% when it debuted earlier in the day on the Shanghai Stock Exchange, where shares ...

FRANKFURT -(Dow Jones)- Volkswagen AG (VOW.XE) said Friday third-quarter net profit plummeted to EUR23 million, hit by special items related to the automaker's wide-ranging restructuring, but underlying operational results suggest that these restructuring efforts are showing some positive effects already. The net profit figure was well down from EUR282 million in the third quarter of last year, ...

HONG KONG (XFN-ASIA) - Share prices closed lower as investors locked in profits after the benchmark index hit an all-time high in the morning session, dealers said. Industrial and Commercial Bank of China managed to sustain its gains after staging a strong debut in heavy trade. The Hang Seng Index closed down 56.19 points 0.31 pct at 18,297.55, off a low of 18,232.64 and an all-time high of 18,4 ...

(Adds company comment, detail) LONDON (AFX) - ClinPhone PLC moved into profit in the first half of the year, driven by growing demand for the technology it designs to automate clinical trials for the pharmaceutical industry. The results, the first presented since the company floated on the London Stock Exchange in June, revealed pretax profits of 1.8 mln stg, or 2.40 pence per share in the six m ...

(Adds detail, CEO comments) LONDON (AFX) - Property services group MJ Gleeson PLC said pretax losses narrowed to 3 mln stg in the year to end-June 2006 from 17.8 mln stg last time. The group, which is going through a major restructuring and disposal programme which will see it focus on urban regenerations projects rather than heavy contracting work, posted an operating profit of 0.9 mln stg for  ...