By Hadeel Al Sayegh, Rania El Gamal and Stanley CarvalhoDUBAI/ABU DHABI, Sept 4 (Reuters) - UAE-based BroogePetroleum and Gas Investment Co (BPGIC) plans to raise $400million in an initial public offering in London, which could bepotentially launched before the end of this year, three sourcesfamiliar with the deal said.The aim of listing the company, engaged in oil products andcrude storage infras...Read More
** Shares of United Parcel Service up 1 pct at$124.05 in premarket trade ** Raymond James upgrades co to "strong buy" from "marketperform," saying market is under appreciating UPS' long-term(2021) domestic EBIT and FCF outlook ** Analyst Patrick Brown says UPS' FCF will grow over $8 blnpost 2020, as strong EBITDA growth should be met by decliningcapex ** Adds, based on detailed...Read More
-- Source link: -- Note: Reuters has not verified this story and does notvouch for its accuracy globalnewsmonitoring@thomsonreuters.com)(within U.S. +1 646 2238780)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor...Read More
** Drug developer's shares jump 25.4 pct to $8premarket** Co says it expects to resubmit a marketing applicationfor its lead drug, a non-opioid shot called IV meloxicam, by theend of September** In May, Recro's shares slumped more than 50 pct after theFDA declined to approve the drug, saying its pain-relievingeffect did not meet expectations** Recro says the resubmission will include revised langu...Read More
LONDON, Sept 4 (Reuters) - Colombia has no plans tointervene in its currency markets even if the peso depreciatesby 10-15 percent, central bank governor Juan Jose Echavarriatold Reuters on Tuesday.Like most emerging currencies, Colombia's peso has weakenedthis year as the dollar has strengthened amid steady raterises by the U.S. Federal Reserve. But the peso's falls havebeen far less severe than p...Read More
COLOMBO, Sept 4 (Reuters) - The Sri Lankan rupee fell to anall-time low on Tuesday, marking its 11th straight session ofsetting fresh record lows.The rupee , which hit a record low of 161.97 early inthe trade, closed at 161.95/162.05 per dollar, compared withMonday's close of 161.60/70.The currency surpassed its earlier record of 161.65 hit inthe previous session."There was (dollar) demand fr...Read More
ISTANBUL, Sept 4 (Reuters) - The consumer price index-basedreal effective exchange rate of the Turkish lira fell to arecord low of 64.82 in August, down from 76.01 a month earlier,data from the central bank showed on Tuesday.The rate, announced by the central bank, measures theweighted average of domestic prices relative to those ofTurkey's trading partners. (Reporting by Ali KucukgocmenWriting by...Read More
ISTANBUL, Sept 4 (Reuters) - The foreign exchange assets andliabilities of Turkey's non-financial companies stood at $215.9billion in June, the Turkish central bank said on Tuesday.That number shows a decrease of $1.26 billion from a monthearlier, it said. (Reporting by Behiye Selin TanerWriting by Ali Kucukgocmen) +902123507067; Reuters Messaging: Reuters Messaging:ali.kucukgocmen.thomsonreuters....Read More
** Hard drive maker's shares slip 1.5 pct to $62.30premarket after Evercore ISI downgrades to "in line" from"outperform"** Brokerage is moving to the sidelines at a time when WDCis at an incredibly cheap valuation, which some call a mark ofpotential inflection; recommends investors revisit stock in 2019 ** Also cuts PT by $25 to $75 vs. analysts median PT of $100 ** Sees NAND p...Read More
The bullish dollar fund just retreated to a level options traders are watching closelyAfter a rocky start to 2018, the backdrop of a consistently tightening Fed has helped to propel the U.S. dollar out of its first-quarter doldrums. The Invesco DB US Dollar Index Bullish Fund (UUP) has followed suit; from its Feb. 15 year-to-date closing low of $23.13, the exchange-traded fund (ETF) rallied 11% in...Read More
COLOMBO, Sept 4 (Reuters) - Sri Lankan shares rose for afifth straight session on Tuesday and marked their highest closein more than three weeks, led by gains in banking and beveragestocks.However, trading volume was low as investors stayed on thesidelines for want of fresh triggers. The day's turnover stoodat 181.9 million Sri Lankan rupees ($1.12 million), the lowestsince August 3 and less than...Read More
Sep 4 (Reuters) - Below are the ratings awarded by Investment Information Credit RatingAgency Ltd. (ICRA) for local debt instruments as of September 3, 2018.COMPANY INSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN)------------------------------------SHORT TERM RATINGS:-------------------Housing Development Finance CP programmeICRA A1+ 750000OutstandingCorporation LtdIIFL Facilities Services LtdCP programme...Read More
(Repeating to add more ratings)Sep 4 (Reuters) - Below are the ratings awarded by Investment Information Credit RatingAgency Ltd. (ICRA) for local debt instruments as of September 3, 2018.COMPANY INSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN)------------------------------------SHORT TERM RATINGS:-------------------Housing Development Finance CP programmeICRA A1+ 750000OutstandingCorporation LtdIIFL Facil...Read More
** Morgan Stanley upgrades custodian bank to"overweight" from "equal-weight", says top pick among"overweight"-rated stocks ** Raises PT by $6 to $115 vs. median PT $104 ** Market not fully recognizing State Street's potential toachieve earnings synergies from its Charles River Developmentdeal, says analyst Betsy Graseck ** STT said in July it would buy Charles River f...Read More
** Shares of chipmaker up 1.8 pct at $25.62premarket ** Cowen raises PT by $5 and Jefferies hikes by $8, bothsetting new PT of $30, joining 2 others brokerages to establishthe highest price target on the Street ** Jefferies says in H2 2019, perhaps for the first timeever, it expects AMD to ship a server microprocessor with ahigher transistor density than Intel** Brokerage views the flip in transis...Read More
** Drug developer's shares up 4.7 pct at $7.50premarket ** Company says a 750 mg dose of its experimental drugBCX735 to prevent and treat hereditary angioedema (HAE) attacksshowed positive results in a trial** HAE is a potentially life-threatening disordercharacterized by recurrent episodes of severe swelling** Company calls results evidence that their treatment couldbe "the first safe and ef...Read More
** Shares in French telco rise >11 pct after falling c. 3pct earlier in the day following its H1 results ** Co says it has 200,000 fewer mobile subscribers at theend of June than at the end of March; cuts its operating freecash flow target for France** Credit Suisse points out that although Key PerformanceIndicators (KPIs) were poor, management was ready to addressproblems on call, stating KPIs...Read More
(Adds background, investor quote, detail on Spanish stocks)By Abhinav RamnarayanLONDON, Sept 4 (Reuters) - Catalonian bond yields fellacross the curve on Tuesday after Spanish Prime Minister PedroSanchez has proposed a referendum on greater autonomy forCatalonia, although he ruled out an independence vote for theregion.Sanchez said on Monday there should be a new accord betweenthe Spanish and Cata...Read More
** MoffettNathanson downgrades social media giant Facebook to "neutral" from "buy"; says revenue growth decelerationcoupled with co's long-term margin guidance does not provide ameaningful near-term path for outperformance ** Broker says co transitioning from frictionless model toone with higher investments in third party content and security** Sees shifting engagement and mone...Read More
* LME warehouse rules need simplifying - consumer source * Warehousing is a cyclical business * Metal needs to be stored only when demand is weakBy Pratima DesaiLONDON, Sept 4 (Reuters) - Some warehouse firms want theLondon Metal Exchange to change its rules for deliveringmaterial so as to allow longer queues and boost revenuesundermined by falling stocks, sources familiar with the mattersaid.For...Read More