STOCKS NEWS EUROPE-StatoilHydro sinks on production outlook
STOCKS NEWS Reuters Results diary
Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]
12:32GMT 07Dec2007-StatoilHydro sinks on production outlook
------------------------------------------------------------
Shares in Norwegian energy group StatoilHydro (STL.OL) dive 10 percent to 166.6 crowns after the company said it would miss its 2007 oil and gas production target and signalled a modest increase in output for 2008 due to ongoing field repairs.
The group also said it would ramp-up capital expenditure by 15 percent to 75 billion crowns ($13.57 billion) in 2008.
"This is quite disappointing," says Fondfinans analyst Kjetil Bakken. "The production volume is lower, but investment costs and exploration costs are higher than expected."
Reuters messaging rm://wojciech.moskwa.reuters.com@reuters.net
12:30GMT 07Dec2007-Dairy firms gain after OFT fine
--------------------------------------------------
Shares in dairy firms Dairy Crest (DSG.L) and Robert Wiseman (RWD.L) rise 2.8 and 6.9 percent respectively after fines from Britain's consumer watchdog the Office of Fair Trading for fixing milk, butter and cheese are not as hefty as feared.
"The fine (for Robert Wiseman) is modest at just 1 percent of turnover or 6.1 million pounds versus a maximum potential of 10 percent" says Investec analyst Nicola Mallard.
For more double click on [ID:nL07624942]
Reuters Messaging rm://marc.jones.reuters.com@reuters.net
10:58GMT 07Dec2007-Rates buoy UK housebuilders and property stocks
---------------------------------------------------------------------
Shares in UK property and housebuilders feature heavily in the FTSE 100 .FTSE rally, as traders cite Thursday's decision by the Bank of England to cut interest rates for the first time in two years to 5.5 percent.
Taylor Wimpey (TW.L) gains 7.6 percent, Persimmon (PSN.L) tacks on 5.6 percent, Wolseley (WOS.L) is up 4.5 percent and British Land (BLND.L) is 3.8 percent higher.
"(BoE) is going to be the main driving factor," says Ian Griffths, a trader at CMC Markets. "Any interest rate cut is going to be more appealing for first-time buyers to get on the market. Even though UK house prices have fallen for three months in a row, now we've had a rate cut there is going to be more insentive."
Earlier, British housebuilder Berkeley BKG_u.L reported a capital return of 241.6 million pounds ($489.7 million) on Friday, one year ahead of schedule, and said the BoE's 25 basis-point rate cut will help the housing market. Berkley shares are up 4.1 percent.
Also supporting the housing sector was U.S. President George W. Bush's unveiling on Thursday of a plan aimed at slowing a wave of home loan foreclosures that has threatened to knock the U.S. economy into recession and rattled investors worldwide.
For more double click on [ID:nL07489544] and [ID:nN06203985]
Reuters Messaging rm://michael.taylor.reuters.com@reuters.net
10:24GMT 07Dec2007-U.S. stock futures down, all eyes on Nov payrolls
---------------------------------------------------------------------
U.S. stock index futures fall with the focus squarely on the November non-farm payrolls numbers due for release at 1330 GMT.
The Dow Jones future DJc1, the S&P 500 future SPc1 and the Nasdaq future NDc1 all 0.1 percent.
No S&P 500 companies are scheduled to report earnings on Friday.
For more double click on [ID:nL07315408]
Reuters Messaging rm://peter.starck.reuters.com@reuters.net
08:41GMT 07Dec2007-Turcas rises on Petkim sale hopes
----------------------------------------------------
Shares in Turkish energy company Turcas (TRCAS.IS) rise 5.2 percent after news it will be able to complete the takeover of privatised Petkim (PETKM.IS) early next year.
The stock easily outpaces the main stock index , which is up 0.4 percent.
Reuters quoted a privatisation official on Thursday as saying the state's controlling stake in Petkim (PETKM.IS) could be handed over to its new owners, a consortium including Turcas, by the end of January. Turkish newspapers said on Friday the deal would be done in the first quarter.
"There were some concerns about the possibility of this deal going through," said Emre Tezmen, analyst at Tera Stockbrokers, noting the deal has been challenged in the courts.
Turcas is buying the stake with Azeri energy firm Socar and Saudi-based Injaz Projects. Petkim stock was flat.
For more double click on [ID:nL06328973]
Reuters Messaging rm://emma.ross-thomas.reuters.com@reuters.net
08:23GMT 07Dec2007-Emap down as sells only 2/3 key assets
---------------------------------------------------------
Shares in media group Emap EMA.L fall 4.2 percent to 790 pence after the company says it has secured a deal to sell its consumer magazine and radio assets to Germany's Bauer, but does not manage to dispose of its specialist trade and exhibitions business.
One analyst, who declines to be named, said the fall reflected investor disappointment that all three divisions had not been sold. The average break-up value on Emap's shares for the entire group had been seen at 1,034p, based on a Reuters poll of 11 analysts, with a 925-1,167p range.
For more double click on [ID:nL07535003]
Reuters Messaging rm://gavin.haycock.reuters.com@reuters.net
08:18GMT 07Dec2007-European shares rise in early trade, U.S. jobs data eyed
---------------------------------------------------------------------------
European shares rise in early trade, after a rescue plan for troubled U.S. homeowners bolsters investors' confidence and sends financial stocks higher, while investors wait for key U.S. jobs data.
Among major movers, Munich Re (MUVGn.DE) rises 3 percent after Swedish activist fund Cevian Capital, which is backed by billionaire investor Carl Icahn, buys a stake of "close to" three percent in the German reinsurer, intending to call for strategic changes.
The pan-European FTSEurofirst 300 index .FTEU3 is up 0.5 percent at 1,535.50 points, rising for a third consecutive day.
For more double click on [.EU]
Reuters Messaging rm://eva.kuehnen.reuters.com@reuters.net
07:04GMT 07Dec2007-European shares set to rise ahead of key U.S. jobs data
---------------------------------------------------------------------------
European shares look set to open higher, mirroring gains in U.S. and Asian markets as a mortgage assistant plan for troubled U.S. homeowners bolsters investors' confidence.
German DAX futures FDXZ7 are up 0.6 percent and France's CAC futures FCEZ7 are 0.7 percent higher. Bookmakers see Britain's FTSE 100 .FTSE up 36 to 39 points, the DAX .GDAXI up 46 to 50 points and the CAC .FCHI 35 to 41 points higher.
Market players keenly await U.S. non-farm payrolls data due at 1330 GMT for an indication whether the U.S. Federal Reserve will cut interest rates by a quarter-point or more aggressive half-point at next week's meeting to help the economy.
The report is expected to show a gain of 90,000 jobs in November, after an increase of 166,000 payrolls in October, a Reuters poll found. [ID:nN06403254]
Economic data (times in GMT):
0745 - French trade data
0900 - Italian GDP data for third quarter
1100 - German industrial production
1330 - U.S. non-farm payrolls
Unemployment data, November, for a poll, click on [ID:nN05395446]
1440 - ECRI Inflation, November
1500 - Reuters/University of Michigan Surveys of Consumers, preliminary
reading for December
For more double click on [.EU]
Reuters Messaging rm://eva.kuehnen.reuters.com@reuters.net
