Markets & Finance

On the Move: Smedvig, Siemens, Royal Dutch Shell


From Standard & Poor's European MarketScope

United Kingdom

ROYAL DUTCH SHELL (RDS) was up £0.12 to £18.80. The company will invest US$19 billion in 2006 (vs. the US$15 billion previously indicated) in more upstream and profitable downstream projects. The company is to continue with its closed period buy back program in January and will provide an update on its 2006 buy back program with a fiscal year results announcement in February.

VODAFONE (VOD) was down £0.03 to £1.25. The company has agreed to acquire Turkish mobile operator Telsim, from the Turkish Savings Deposit and Investment Fund ("SDIF") for a consideration of US$4.55 billion.

BT GROUP (BT)was up £0.02 to £2.18. Italy's Il Sole 24Ore said Fiat has sold its Internet Unit Atlanet to the company.

France

TOTAL (TOT)was up €3.90 to €218.20. West Texas Intermediate Crude gained almost US$2 Monday to settle at US$61.30/bbl after OPEC said it will maintain current output levels but called for a January meeting to discuss whether to trim production.

RENAULT was up €.95 to €67.90. CSFB raised its target price to €75 from €68. The broker also upgraded the auto sector to overweight after a year of relative lows.

MICHELIN was up €0.38 to €46.08. The company could be affected by news that rubber prices could reach a 21-year high as violence threatens production in Thailand, which produces 38% of global output.

VIVENDI UNIVERSAL (V)was up €0.27 to €26.27. The company is expected to make a deal with TF1 and M6 over the next eight days, according to a report in Les Echos. The company is looking at a joint venture between Canal+ and TPS, which is 66% owned by TF1 while M6 has a 34% stake.

Netherlands

PHILIPS (PHG) was up €0.19 to €25.25. The company has placed an order for an initial 10,000 LCD TVs with Taiwanese group Quanta Computer, local publication the Economic Daily News wrote.

DSM was up €0.71 to €35.16.The has entered into a €40 million, three-year global ICT outsourcing contract with Getronics covering 20,000 workplaces.

Nordics

SMEDVIG was up NOK24.00 to NOK184.50. Noble has agreed to buy a 29% stake in the company (21.1 million A shares and 2.5 million B shares) from Chairman Peter Smedvig and his family for NOK4.6 billion. Subsequently, Noble will hold 39% of the company 's A shares and 8.9% of the B shares.

Germany

DEUTSCHE TELEKOM (DT) was up €0.02 to €14.08. The company approved a plan to cut 32,000 jobs in Germany by the end of 2008; the supervisory board outvoted employee representatives.

SIEMENS (SI) was up €1.39 to €70.05. Deutsche upgraded the stock to buy from hold and lifted its target to €85 from €65.

DAIMLERCHRYSLER (DCX) was up €0.03 to €42.74. The company's Chrysler unit will spend as much as US$1 billion to give two Missouri plants which build minivans and pick-up trucks the ability to produce more models.

Switzerland

NOVARTIS (NVS) was unchanged at CHF68.60. The company has asked European regulators to approve Glivec (or Gleevec) for additional use in patients with Philadelphia-chromosome-positive acute lymphoblastic leukemia, the company's second best selling drug.

Spain

INDITEX was down €0.13 to €25.65. The company announced nine months net profit up 28% to €520.5 million, ahead of forecasts, with EPS of €0.838. Prepared by Zaida Espana, Valerie Vidal, Michael Sanderson, Mariella Mongio, Alexander Wisch, Holly Cook, Emma Stevenson, Pawan Girglani, Julien Manrique, and Rocio Opazo-Aniotz (Standard & Poor's); Alex Halperin (BusinessWeek Online)


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