id
stringlengths 10
14
| vw_text
stringlengths 44
4.27k
| raw_text
stringlengths 27
14.1k
|
|---|---|---|
test/15404 | test/15404 |@title pergamon:1 holdings:1 reduce:1 bpcc:1 hollis:1 stake:1 |@word pergamon:3 holdings:1 ltd:1 associate:1 company:4 say:4 sell:1 30:1 mln:2 ordinary:2 share:1 british:1 printing:1 communication:1 corp:1 plc:2 bpcl:1 l:1 10:1 5:1 hollis:2 together:1 security:1 total:1 price:1 give:1 proceed:1 sale:2 would:1 use:1 fund:1 expansion:1 programme:1 worldwide:1 acquisition:1 stategy:1 follow:1 shareholding:1 bpcc:1 remain:1 51:1 pct:1 intention:1 reduce:1 holding:1 either:1 | PERGAMON HOLDINGS REDUCES BPCC AND HOLLIS STAKES
<Pergamon Holdings Ltd> and its associate
companies said that they had sold 30 mln ordinary shares in the
British Printing and Communication Corp Plc <BPCL.L> and 10.5
mln in <Hollis Plc> together with other securities.
No total price was given but the company said the proceeds
of the sales would be used to fund Pergamon's expansion
programme and worldwide acquisition stategy. The company said
that following these sales Pergamon's ordinary shareholdings in
both BPCC and Hollis remained above 51 pct. It said it had no
intention of further reducing its holdings in either company.
|
test/15406 | test/15406 |@title nationale:1 nederlanden:1 profit:1 sale:1 steady:1 |@word year:1 1986:1 net:2 profit:2 635:1 5:4 mln:2 guilde:4 vs:4 603:1 4:1 revenue:1 17:2 35:1 billion:2 27:1 per:1 nominal:1 2:4 50:2 guilder:1 share:1 79:1 67:1 correct:2 capital:1 increase:1 1985:1 uncorrected:2 figure:1 73:1 dividend:1 38:1 40:1 note:1 full:1 name:1 nationale:1 nederlanden:1 nv:1 ntnn:1 | NATIONALE NEDERLANDEN PROFITS, SALES STEADY
Year 1986
Net profit 635.5 mln guilders vs 603.4 mln.
Revenues 17.35 billion guilders vs 17.27 billion.
Net profit per nominal 2.50 guilder share 5.79 guilders vs
5.67, corrected for capital increase. (1985 uncorrected figure
5.73).
Dividend 2.50 guilders vs 2.38, corrected. (2.40
uncorrected.)
Note - Full name is Nationale Nederlanden NV <NTNN.AS>
|
test/15409 | test/15409 |@title shanghai:1 |@word tyreb:1 factory:2 raise:2 30:2 mln:3 u:2 dlrs:2 ta:1 chung:1 hua:1 rubber:1 shanghai:1 35:1 dlr:1 loan:2 expand:1 modernise:1 plant:1 arranger:1 ccic:1 finance:2 ltd:1 say:1 lead:1 manage:1 bank:1 china:1 expect:2 mature:1 eight:1 nine:1 year:1 term:1 finalize:1 money:1 use:1 import:1 manufacturing:1 equipment:1 include:1 technology:1 transfer:1 production:1 truck:1 radial:1 tyre:1 part:1 output:1 export:1 expansion:1 program:1 cost:1 total:1 54:1 shortfall:1 domestically:1 | SHANGHAI TYREb FACTORY TO RAISE 30 MLN U.S. DLRS
Ta Chung Hua Rubber Factory of
Shanghai will raise a 30 to 35 mln U.S. Dlr loan to expand and
modernise its plant, arranger CCIC Finance Ltd said.
The loan, to be lead managed by the Bank of China, is
expected to mature in eight to nine years, but terms have not
been finalized.
The money will be used to import manufacturing equipment
including technology transfer for the production of truck
radial tyres. Part of the output will be exported.
The expansion program is expected to cost a total 54 mln
dlrs. The shortfall will be financed domestically.
|
test/15410 | test/15410 |@title saudi:1 rate:1 rise:1 bahrain:1 bank:1 catch:1 short:1 |@word saudi:1 riyal:2 interest:2 rate:1 rise:3 bahrain:2 base:1 bank:4 scramble:1 cover:1 short:3 position:1 dealer:2 say:3 several:1 lend:1 fix:1 period:2 borrowing:2 date:1 today:1 find:1 day:2 money:1 supply:1 everybody:1 stick:1 spot:3 next:2 one:2 trader:1 high:1 6:5 1:3 4:4 six:2 pct:7 5:4 five:1 yesterday:3 spill:1 month:3 around:2 3:4 16:6 15:2 7:2 8:1 three:1 edge:1 9:1 quote:2 touch:1 firm:1 seven:1 commercial:1 7500:1 04:1 dollar:1 7507:1 09:1 | SAUDI RATES RISE AS BAHRAIN BANKS CAUGHT SHORT
Saudi riyal interest rates rose as
Bahrain-based banks scrambled to cover short positions, dealers
said.
Several Bahrain banks had been lending in the fixed periods
and borrowing in the short dates, but today they found the
day-to-day money in short supply, dealers said.
'Everybody's stuck in the spot-next,' one trader said.
Spot-next rose to as high as 6-1/4, six pct from 5-1/4,
five pct yesterday, and the borrowing interest spilled over
into the periods, with one month rising to around 6-3/16,
5-15/16 pct from 5-15/16, 7/8 pct yesterday.
Three months edged up to around 6-9/16, 5/16 pct from
6-7/16, 1/4 pct, while six months was quoted a touch firmer by
some banks at seven, 6-3/4 pct.
Commercial banks quoted the spot riyal at 3.7500/04 to the
dollar after 3.7507/09 yesterday.
|
test/15411 | test/15411 |@title belgium:1 issue:1 gold:1 warrant:1 source:1 say:1 |@word belgium:1 plan:1 issue:1 swiss:1 franc:1 warrant:1 buy:1 gold:1 credit:1 suisse:1 lead:1 manager:1 market:1 source:1 say:1 confirmation:1 detail:1 immediately:1 available:1 | BELGIUM TO ISSUE GOLD WARRANTS, SOURCES SAY
Belgium plans to issue Swiss franc
warrants to buy gold, with Credit Suisse as lead manager,
market sources said.
No confirmation or further details were immediately
available.
|
test/15413 | test/15413 |@title philippine:1 telephone:1 firm:1 plan:1 stock:1 split:1 |@word philippine:2 long:1 distance:1 telephone:4 co:1 pldt:5 mn:1 plan:2 two:2 one:1 stock:11 split:4 20:2 pct:6 dividend:2 later:1 year:1 reduce:2 excess:1 market:1 buoyancy:1 vice:1 president:1 sennen:1 lazo:4 tell:1 reuters:1 say:5 would:3 par:1 value:1 company:7 common:3 10:1 five:1 peso:5 apply:2 holder:1 18:1 mln:2 share:1 record:2 date:1 september:2 15:3 1987:1 exercise:1 make:1 marketable:1 beyond:1 reach:1 many:1 small:1 investor:1 surge:1 low:1 37:1 february:1 1986:4 367:1 50:1 close:1 trading:1 yesterday:1 manila:2 exchange:1 payable:1 october:1 also:1 stockholder:2 report:1 net:1 income:2 1:1 89:1 billion:3 68:1 778:1 9:1 pesos:1 1985:2 operate:1 revenue:1 six:1 4:1 7:1 end:1 december:2 417:1 100:1 spokesman:1 profit:3 likely:3 substantial:2 since:1 government:2 raise:1 franchise:1 tax:3 three:1 impose:1 35:1 corporate:1 previously:1 exempt:1 far:1 order:1 implementation:1 decision:1 large:1 58:1 philippines:1 31:1 856:1 014:1 operation:1 represent:1 94:1 instrument:1 country:1 item:1 firm:1 please:1 read:1 page:1 3:1 first:1 para:1 substantially:1 cut:1 insert:1 drop:1 word:1 replace:1 | PHILIPPINE TELEPHONE FIRM PLANS STOCK SPLIT
The Philippine Long Distance Telephone Co
<PLDT.MN> is planning a two-for-one stock split and a 20 pct
stock dividend later this year to reduce excess market
buoyancy, Vice-President Sennen Lazo told Reuters.
Lazo said the stock split would reduce the par value of the
company's common stock from 10 to five pesos.
He said the stock split would apply to holders of about 18
mln common shares of stock on the record date of September 15
1987. 'The exercise should make our stock more marketable,' Lazo
said. 'Now it is beyond the reach of many small investors.'
PLDT common stock surged from a low of 37 pesos in February
1986 to 367.50 at close of trading yesterday on the Manila
Stock Exchange.
Lazo said the 20 pct stock dividend, payable on October 15,
would also apply to stockholders on record as of September 15.
PLDT reported 1986 net income of 1.89 billion pesos, up 68
pct from 778.9 mln pesos in 1985, on operating revenues of six
billion pesos, up from 4.7 billion pesos in 1985.
At end December 1986 the company had 417,100 stockholders.
A PLDT spokesman said the company's profits are likely to
be substantial since the government raised its franchise tax to
three pct from two and to impose a 35 pct corporate income tax
from which it was previously exempt.
The government has not so far ordered the implementation of
the tax decision.
PLDT is the largest of 58 telephone companies in the
Philippines. On December 31 1986 the company had 856,014
telephones in operation, representing 94 pct of all instruments
in the country.
In Manila item 'Philippine Telephone firm plans stock split'
please read in page 3, first para, 'the company's profits are
likely to be substantially cut' (inserting dropped word). This
replaces 'the company's profits are likely to be substantial'
|
test/15415 | test/15415 |@title cargill:1 confirm:1 white:1 sugar:1 sale:1 india:1 |@word london:1 base:1 trader:2 cargill:1 u:1 k:1 ltd:1 confirm:1 sell:1 one:2 cargo:2 white:2 sugar:2 india:2 shipment:1 april:1 15:2 may:1 yesterday:1 tender:2 price:1 detail:1 immediately:1 available:1 suggest:1 business:1 around:1 220:1 dlrs:1 tonne:1 cif:1 two:1 specific:1 requirement:1 shipping:1 period:1 | CARGILL CONFIRMS WHITE SUGAR SALE TO INDIA
London-based trader Cargill (U.K.) Ltd
confirmed it sold one cargo of white sugar to India for
shipment April 15/May 15 at yesterday's tender.
Price details were not immediately available but some
traders suggested business had been done around 220 dlrs a
tonne cif.
India tendered for one or two cargoes of white sugar. There
was no specific requirement on shipping period.
|
test/15416 | test/15416 |@title malaysia:1 seek:1 42:1 billion:1 yen:1 pipeline:1 loan:1 |@word malaysia:2 ask:1 japan:2 42:1 billion:1 yen:1 25:1 year:3 loan:4 finance:1 construction:1 gas:3 pipeline:2 eastern:2 trengganu:1 southern:1 johor:1 overseas:1 economic:1 cooperation:1 fund:1 oecf:3 say:2 chief:1 representative:1 takashi:1 matsuya:2 tell:2 reporter:1 japanese:1 government:1 appraise:1 another:1 official:1 reuters:1 likely:1 approve:2 technically:1 economically:1 viable:1 would:2 carry:1 coupon:1 rate:1 four:1 pct:1 grace:1 period:1 seven:1 disburse:1 three:1 add:1 contruction:1 second:1 phase:2 peninsular:1 utilisation:1 project:1 petronas:1 national:1 oil:2 company:1 first:1 supply:1 household:1 around:1 town:1 kertih:1 | MALAYSIA SEEKS 42 BILLION YEN PIPELINE LOAN
Malaysia has asked Japan for a 42
billion yen 25-year loan to finance the construction of gas
pipelines from eastern Trengganu to southern Johor, the
Overseas Economic Cooperation Fund (OECF) said.
OECF's chief representative, Takashi Matsuya, told
reporters the Japanese Government is appraising the loan.
Another OECF official told Reuters Japan is likely to approve
the loan because 'it is technically and economically viable.'
If approved, the loan would carry a coupon rate of four
pct, a grace period of seven years, Matsuya said. It would be
disbursed over three years, he added.
The pipeline contruction is the second phase of the
Peninsular Gas Utilisation Project by Petronas, Malaysia's
national oil company.
The first phase was the supply of gas to households in and
around the eastern oil town of Kertih.
|
test/15417 | test/15417 |@title ccf:1 report:1 34:1 8:1 pct:1 profit:1 boost:1 share:1 split:1 see:1 |@word credit:1 commercial:1 de:4 france:3 ccfp:1 pa:4 report:1 parent:1 company:1 net:1 profit:1 34:1 8:1 pct:5 140:1 1:1 mln:4 franc:5 103:1 9:1 week:1 denationalisation:1 around:1 end:1 month:2 official:1 source:3 say:3 bank:5 sixth:1 large:3 term:2 deposit:1 seventh:1 asset:1 plan:2 share:6 split:2 increase:1 number:2 offer:3 ahead:1 sale:4 40:1 ordinary:1 capital:2 public:2 10:2 staff:1 20:1 abroad:1 previously:1 one:1 big:1 private:3 nationalise:1 socialist:1 1982:1 early:1 give:1 detail:1 price:1 cite:1 april:2 27:1 likely:2 date:1 flotation:3 launch:1 far:1 30:1 group:1 currently:1 33:1 100:1 nominal:1 investor:2 constitute:1 solid:1 core:1 eight:1 ten:1 shareholder:1 tender:1 close:1 16:1 12:1 advertising:1 campaign:1 begin:1 sunday:1 privatisation:3 way:1 attract:2 extra:1 client:1 ccf:2 deputy:1 director:1 general:1 rene:1 la:2 serre:2 tell:1 reuters:1 market:1 put:1 total:1 value:1 four:1 five:1 billion:1 least:1 sogenal:1 another:1 recently:1 privatise:2 850:1 000:1 people:1 buy:1 government:1 sweeping:1 programme:1 also:1 include:1 saint:1 gobain:1 sgep:1 cie:1 financiere:1 paribas:1 pari:1 banque:2 du:1 batiment:1 et:2 des:1 travaux:1 industrielle:1 mobiliere:1 privee:1 complete:1 third:1 french:1 societe:1 generale:1 sgen:1 later:1 year:1 | CCF REPORTS 34.8 PCT PROFIT BOOST, SHARE SPLIT SEEN
Credit Commercial de France <CCFP.PA>
reported a parent company net profit up 34.8 pct to 140.1 mln
francs from 103.9 mln francs a few weeks before its
denationalisation around the end of this month.
Official sources said the bank, France's sixth largest in
terms of its deposits and seventh in terms of its assets,
planned a share split to increase the number of shares on offer
ahead of the sale of 40 pct of its ordinary share capital to
the public, of 10 pct to staff and 20 pct abroad.
Previously one of France's biggest private banks, it was
nationalised by the Socialists in 1982.
The sources said it was too early to give details of the
planned split or of the share price, but cited April 27 as a
likely date for the flotation launch.
So far 30 pct of the group's capital, currently at 10.33
mln shares of 100 francs nominal, has been offered for sale to
large private investors to constitute a solid core of eight to
ten shareholders before the flotation.
The private tender offer closes on April 16, while a 12 mln
franc advertising campaign for the flotation begins on Sunday.
'The privatisation will be a way of attracting extra clients,'
CCF deputy director-general Rene de la Serre told Reuters.
Market sources put the total value of CCF's privatisation
at between four and five billion francs.
De la Serre said the bank was likely to attract at least
the same number of investors as <Sogenal>, another recently
privatised bank in which 850,000 people bought shares.
The government's sweeping privatisation programme has also
included the sale of Saint-Gobain <SGEP.PA>, and Cie Financiere
de Paribas <PARI.PA>. The sale of <Banque du Batiment et des
Travaux Publics> and <Banque Industrielle et Mobiliere Privee>
should be completed this month, while third largest French bank
Societe Generale <SGEN.PA> will be privatised later this year.
|
test/15420 | test/15420 |@title johnson:1 matthey:1 platinum:1 group:1 price:1 |@word johnson:1 matthey:1 today:1 issue:1 follow:1 platinum:2 group:1 base:1 price:2 unfabricate:1 u:1 dlrs:1 per:1 troy:1 ounce:1 previous:1 parenthesis:1 562:1 567:1 palladium:1 130:2 iridium:1 400:2 rhodium:1 1:2 230:2 ruthenium:1 80:2 | JOHNSON MATTHEY'S PLATINUM GROUP PRICES
Johnson Matthey today issued the
following Platinum group base prices (unfabricated), all U.S.
Dlrs per troy ounce.
Previous prices in parentheses.
PLATINUM - 562 (567)
PALLADIUM - 130 (130)
IRIDIUM - 400 (400)
RHODIUM 1,230 (1,230)
RUTHENIUM - 80 (80)
|
test/15421 | test/15421 |@title lex:1 service:1 buy:1 sears:1 motor:1 group:1 |@word lex:12 service:2 plc:5 lexl:1 l:2 say:5 acquire:1 sears:7 motor:6 group:6 ltd:2 retail:1 distribution:1 arm:1 sehl:1 11:1 9:1 mln:8 stg:7 loan:1 note:1 payable:1 33:1 4:2 purchase:1 1:1 cash:2 issue:1 8:1 0:1 new:1 ordinary:1 share:4 company:1 statement:2 immediately:1 follow:1 acquisition:3 car:2 commercial:1 vehicle:5 contract:1 hire:1 fleet:1 3:2 000:1 sell:1 leasing:1 14:1 sum:1 equal:1 net:1 book:1 value:1 transfer:1 equally:1 lombard:1 north:1 central:1 involve:1 transaction:1 today:1 place:1 institution:1 400p:1 qualify:1 final:1 dividend:1 10:1 april:1 represent:1 major:1 development:1 automotive:3 activity:1 enlarge:1 retailing:1 operation:1 turnover:2 530:1 exist:1 interest:1 include:1 volvo:2 concessionaire:1 sole:1 importer:1 part:1 u:1 k:1 year:1 31:1 december:1 1986:1 242:1 date:1 50:1 external:1 borrowing:1 fall:1 announcement:1 trade:1 around:1 409p:1 419p:1 close:1 yesterday:1 | LEX SERVICE BUYS SEARS MOTOR GROUP
Lex Service Plc <LEXL.L> said it had
acquired <Sears Motor Group Ltd>, the retail motor distribution
arm of Sears Plc < SEHL.L>, and an 11.9 mln stg loan note
payable by Sears Motor for 33.4 mln stg.
The purchase will be through 1.4 mln stg in cash and the
issue to Sears Plc of 8.0 mln new Lex ordinary shares.
The company said in a statement that immediately following
the acquisition of the motor group, its car and commercial
vehicle contract hire fleet of some 3,000 vehicles was sold to
<Lex Vehicle Leasing Ltd> for 14.3 mln stg in cash, a sum equal
to the net book value of the vehicles transferred.
Lex Vehicle is owned equally by Lex Services and <Lombard
North Central Plc>.
Lex said the shares involved in the transaction were today
being placed for Sears Plc with institutions at 400p. These
shares will not qualify for the final Lex dividend on 10 April.
Lex said in a statement that its acquisition of Sears Motor
Group represents a major development for its automotive
activities. The enlarged retailing operations of the Lex
Automotive group now have a turnover of 530 mln stg. Lex's
existing automotive interests include Volvo Concessionaires,
the sole importer of Volvo cars and parts into the U.K.
Lex said the turnover for Sears Motor Group in the year to
31 December 1986 was 242 mln stg and that at the date of the
acquisition the group had about 50 mln stg in external
borrowings.
Lex shares fell on the announcement to trade around 409p
from a 419p close yesterday.
|
test/15424 | test/15424 |@title major:1 rubber:1 producer:1 meet:1 singapore:1 |@word official:2 indonesia:3 malaysia:2 singapore:2 perhaps:1 thailand:3 meet:1 tomorrow:1 discuss:3 increase:1 regional:2 cooperation:1 rubber:9 marketing:1 way:1 raise:1 price:2 industry:1 source:3 say:4 link:1 market:3 four:1 country:2 improve:1 transparency:1 first:1 time:1 attend:2 meeting:1 representative:1 may:1 able:1 tight:1 schedule:1 account:1 90:1 pct:1 world:1 export:2 major:1 trading:1 centre:1 malaysian:1 future:1 freighting:1 contract:1 among:1 issue:1 expect:1 last:1 month:1 import:1 adopt:1 new:2 international:1 natural:1 agreement:1 geneva:1 pact:1 responsive:1 trend:1 predecessor:1 early:1 provision:1 allow:1 buffer:1 stock:1 borrow:1 bank:1 eliminate:1 | MAJOR RUBBER PRODUCERS TO MEET IN SINGAPORE
Officials from Indonesia, Malaysia,
Singapore and, perhaps, Thailand will meet here tomorrow to
discuss increased regional cooperation on rubber marketing and
ways to raise rubber prices, industry sources said.
The officials will discuss linking rubber markets in the
four countries to improve price transparency, the sources said.
This is the first time Indonesia is attending such a
meeting, they said, but representatives from Thailand may not
be able to attend because of their tight schedule. Malaysia,
Indonesia and Thailand account for 90 pct of world rubber
exports and Singapore is a major regional rubber trading
centre.
The Malaysian Rubber Futures market, freighting and
contracts for rubber are among other issues expected to be
discussed.
Last month, rubber importing and exporting countries
adopted a new International Natural Rubber Agreement in Geneva.
The new pact is more responsive to market trends than its
predecessor, the sources said, and earlier provisions allowing
the buffer stock to borrow from banks have been eliminated.
|
test/15425 | test/15425 |@title mepc:2 extend:1 offer:1 oldham:1 |@word plc:1 mepc:2 l:1 say:1 offer:2 oldham:4 estates:1 ltd:1 would:1 remain:1 open:1 notice:1 february:1 26:1 make:1 agree:2 bid:1 base:1 formula:2 reflect:1 asset:2 value:3 30:1 september:1 1986:1 year:1 earlier:1 net:1 put:1 531:1 4:1 mln:1 stg:1 1:1 april:1 valuation:1 use:1 still:1 yet:1 give:1 firm:1 recommendation:1 shareholder:1 regard:1 | MEPC EXTENDS OFFER FOR OLDHAM
MEPC Plc <MEPC.L> said that its offer for
<Oldham Estates Ltd> would remain open until further notice.
On February 26 MEPC made an agreed bid for Oldham based on
a formula reflecting its asset value at 30 September 1986. A
year earlier Oldham's net asset value was put at 531.4 mln stg.
As of 1 April the valuation used under the formula had
still to be agreed so Oldham had yet to give a firm
recommendation to its shareholders regarding the value of the
the offer.
|
test/15427 | test/15427 |@title george:1 wimpey:1 profit:1 42:1 pct:1 66:1 5:1 mln:1 stg:1 |@word year:1 december:1 31:1 1986:1 shr:1 18:1 35p:1 vs:15 14:2 95p:1 div:1 3:6 75p:3 2:3 9p:1 make:1 4:7 pretax:1 profit:6 66:1 5:4 mln:22 stg:12 46:1 9:5 tax:1 6:3 net:3 51:1 42:1 turnover:1 1:4 44:1 billion:2 58:1 note:1 full:1 name:1 company:2 george:1 wimpey:1 plc:1 wmpy:1 l:1 operate:1 exceptional:2 item:2 88:1 80:1 debit:3 0:3 11:1 operating:1 85:1 68:1 share:1 less:1 loss:2 associated:1 interest:1 payable:1 20:1 8:1 19:1 attributable:1 minority:1 extraordinary:1 credit:1 borrowing:1 195:1 193:1 | GEORGE WIMPEY PROFITS UP 42 PCT TO 66.5 MLN STG
Year to December 31, 1986.
Shr 18.35p vs 14.95p
Div 3.75p vs 2.9p making 4.75p vs 3.75p
Pretax profit 66.5 mln stg vs 46.9 mln
Tax 14.6 mln stg vs 4.5 mln
Net profit 51.9 mln stg vs 42.4 mln
Turnover 1.44 billion stg vs 1.58 billion
Note - Full name of company is George Wimpey Plc <WMPY.L>.
Operating profit before exceptional items 88.9 mln stg vs
80.5 mln
Exceptional debits 3.0 mln stg vs 11.6 mln
Operating profit 85.9 mln stg vs 68.9 mln
Share of profits less losses of associated companies 1.4
mln stg vs 2.4 mln loss
Interest - net payable 20.8 mln stg vs 19.6 mln
Attributable minority profits debits 0.2 mln stg vs 0.3 mln
Extraordinary items debit 3.4 mln stg vs 4.3 mln credit
Net borrowings 195.1 mln stg vs 193.5 mln
|
test/15428 | test/15428 |@title canada:2 february:2 trade:2 surplus:4 1:2 25:2 billion:2 dlrs:4 january:2 623:2 mln:2 |@word | CANADA FEBRUARY TRADE SURPLUS 1.25 BILLION DLRS AFTER
JANUARY 623 MLN DLRS SURPLUS
CANADA FEBRUARY TRADE SURPLUS 1.25 BILLION DLRS AFTER
JANUARY 623 MLN DLRS SURPLUS
|
test/15429 | test/15429 |@title aegon:1 1986:1 net:1 profit:1 rise:1 6:1 4:1 pct:1 |@word net:2 profit:2 327:1 1:4 mln:1 guilde:5 vs:4 307:1 5:1 total:1 revenue:1 7:2 97:1 billion:2 8:1 per:1 five:1 guilder:2 nominal:1 share:1 9:2 33:1 25:1 correct:1 capital:1 increase:1 final:1 dividend:2 30:3 2:3 4:1 pct:2 stock:2 interim:1 already:1 pay:1 note:1 full:1 name:1 company:1 aegon:1 nv:1 aegn:1 | AEGON 1986 NET PROFIT RISES 6.4 PCT
Net profit 327.1 mln guilders vs
307.5.
Total revenue 7.97 billion guilders vs 8.7 billion.
Net profit per five guilder nominal share 9.33 guilder vs
9.25 (corrected for capital increase).
Final dividend 1.30 guilders and 2.4 pct stock vs 1.30
guilders and 2.2 pct in stock. Interim dividend already paid
was 1.30 guilders.
Note : full name of company is AEGON NV <AEGN.AS>
|
test/15430 | test/15430 |@title canada:1 february:1 trade:1 surplus:1 1:1 2:1 billion:1 dlrs:1 |@word canada:2 trade:1 surplus:4 1:1 25:1 billion:7 dlrs:6 february:6 compare:1 upward:1 revise:1 623:1 mln:3 january:4 statistics:1 say:1 originally:1 report:1 533:1 last:1 year:1 189:1 export:1 seasonally:1 adjust:1 10:2 44:1 9:4 85:1 05:1 1986:2 import:1 19:1 23:1 86:1 | CANADA FEBRUARY TRADE SURPLUS 1.2 BILLION DLRS
Canada had a trade surplus of 1.25
billion dlrs in February compared with an upward revised 623
mln dlrs surplus in January, Statistics Canada said.
The January surplus originally was reported at 533 mln
dlrs. The February surplus last year was 189 mln dlrs.
February exports, seasonally adjusted, were 10.44 billion
dlrs against 9.85 billion in January and 10.05 billion in
February, 1986.
February imports were 9.19 billion dlrs against 9.23
billion in January and 9.86 billion in February, 1986.
|
test/15431 | test/15431 |@title bank:1 japan:1 buy:1 dollar:1 tokyo:1 dealer:1 say:1 |@word bank:2 japan:2 buy:1 modest:1 amount:1 dollar:2 around:3 145:2 10:1 yen:2 market:1 open:1 dealer:2 say:3 opening:2 drop:1 swiftly:1 speculator:1 conclude:1 group:1 seven:1 g:2 7:2 comminuique:1 issue:1 washington:1 contain:1 nothing:1 basically:1 new:1 fall:1 half:1 reaffirm:1 currency:1 current:1 level:1 reflect:1 economic:1 fundamental:1 one:1 probably:1 intervene:1 australia:1 could:1 confirm:1 | BANK OF JAPAN BUYS DOLLARS IN TOKYO, DEALERS SAY
The Bank of Japan bought a modest amount
of dollars at around 145.10 yen just after the market here
opened, dealers said.
Just before the opening, the dollar dropped swiftly as
speculators concluded the Group of Seven (G-7) comminuique
issued in Washington contained nothing basically new, they
said. It fell about a half yen, to around 145.
The G-7 reaffirmed that their currencies around current
levels reflect economic fundamentals.
One dealer said the Bank of Japan probably intervened in
Australia before the opening here, but could not confirm this.
|
test/15432 | test/15432 |@title miyazawa:1 say:1 yen:1 still:1 inside:1 paris:1 range:1 |@word japanese:1 finance:1 minister:1 kiichi:1 miyazawa:2 say:2 strengthening:1 yen:2 dollar:1 occur:2 since:1 paris:3 agreement:2 within:1 range:2 agree:2 louvre:1 discussion:3 would:1 happen:1 past:1 several:1 week:1 outside:1 tell:1 press:1 conference:1 follow:1 group:1 seven:1 meeting:1 add:1 current:1 reaffirmation:1 indicate:1 solidarity:1 still:1 place:1 | MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE
Japanese Finance Minister Kiichi
Miyazawa said the strengthening of the yen against the dollar
that has occurred since the Paris Agreement was within the
range agreed on in the Louvre discussions.
'I would say that what has happened (to the yen) in the past
several weeks was not outside the range we agreed to in the
discussions in Paris,' Miyazawa told a press conference
following the Group of Seven meeting here.
He added that the current discussions were a 'reaffirmation'
of that agreement, indicating that the 'solidarity' that occurred
in Paris was still in place.
|
test/15436 | test/15436 |@title u:1 k:1 money:1 market:1 get:1 103:1 mln:1 stg:1 help:1 |@word bank:4 england:1 say:1 operate:1 money:1 market:1 morning:1 buy:2 103:1 mln:6 stg:4 bill:1 central:1 band:4 one:1 60:1 9:4 7:1 8:1 two:1 eight:1 13:1 16:2 three:1 26:1 3:1 4:1 four:1 nine:1 11:1 pct:1 compare:1 forecast:1 400:1 shortfall:1 today:1 | U.K. MONEY MARKET GETS 103 MLN STG HELP
The Bank of England said it operated in
the money market this morning, buying 103 mln stg bank bills.
The central bank bought in band one 60 mln stg at 9-7/8, in
band two eight mln at 9-13/16, in band three 26 mln at 9-3/4
and in band four nine mln stg at 9-11/16 pct.
This compares with the bank's forecast of a 400 mln stg
shortfall today.
|
test/15438 | test/15438 |@title natned:1 forecast:1 1987:1 result:1 line:1 1986:1 |@word netherlands:1 large:1 insurer:1 nationale:1 nederlanden:1 nv:1 nttn:1 natned:1 say:4 expect:1 least:1 unchanged:1 result:3 1987:1 report:1 1986:4 net:3 profit:4 5:3 3:1 pct:6 635:1 mln:9 guilde:11 603:1 4:2 1985:5 revenue:4 increase:3 0:1 17:2 35:1 billion:6 27:1 previous:2 year:3 dividend:1 raise:1 2:2 50:3 per:2 share:4 38:1 correct:1 capital:1 company:4 guilder:1 pressure:1 fall:4 exchange:1 rate:1 particularly:1 us:1 australian:1 dollar:1 sterling:1 without:2 currency:3 fluctuation:2 would:2 30:2 7:4 high:4 1:2 97:2 natne:2 international:2 turnover:2 compare:2 52:2 life:2 insurance:2 365:2 428:1 due:1 influence:1 tight:1 interest:1 margin:1 investment:1 claim:1 payout:1 9:2 66:1 6:1 total:1 asset:2 reach:1 69:1 87:1 67:1 equal:1 65:2 68:1 53:1 aft:1 interrupt:1 | NATNED FORECASTS 1987 RESULTS IN LINE WITH 1986
The Netherlands' largest insurer
Nationale Nederlanden NV <NTTN.AS> (NatNed) said it expected at
least unchanged results in 1987 after reporting 1986 net
profits up 5.3 pct to 635.5 mln guilders from 603.4 mln in
1985,
Revenues increased by 0.5 pct to 17.35 billion guilders
after 17.27 billion the previous year, and the dividend was
raised to 2.50 guilders per share from 2.38 guilders in 1985,
corrected on a capital increase.
The company said guilder revenue and profit were pressured
by falls in exchange rates, particularly in the US and
Australian dollar and sterling.
Without these currency fluctuations, net profit would have
been 30.7 mln guilders higher and revenue 1.97 billion higher,
NatNed said.
The international share in turnover was 50 pct in 1986
compared with 52 pct in 1985.
The company's life insurance result fell to 365.7 mln
guilders after 428.4 mln in 1985 due to currency influences,
tighter interest margins and increased investment.
Claim payouts fell to 9.9 mln guilders after 66.6 mln the
previous year.
The company's total assets reached 69.87 billion guilders
in 1986 against 67 billion the year before.
Assets per share equalled 65.68 guilders against 65.53.
Without these currency fluctuations, net profit would have
been 30.7 mln guilders higher and revenue 1.97 billion higher,
NatNed said.
The international share in turnover was 50 pct in 1986
compared with 52 pct in 1985.
The company's life insurance result fell to 365.7 mln
guilders aft
INTERRUPTED
|
test/15441 | test/15441 |@title 9:2 apr:2 1987:2 07:2 38:2 18:2 81:2 |@word | 9-APR-1987 07:38:18.81
9-APR-1987 07:38:18.81
|
test/15442 | test/15442 |@title european:1 market:1 react:1 quietly:1 g:1 7:1 communique:1 |@word european:1 currency:7 market:9 react:1 quietly:1 g:3 7:3 communique:9 comment:1 banker:3 dealer:14 range:8 disappointment:4 concrete:2 surprise:2 expect:6 much:1 dollar:14 open:2 lower:1 virtually:1 trade:6 narrow:1 reaffirm:1 support:4 paris:4 accord:3 stabilisation:2 contain:1 move:2 strengthen:1 frankfurt:2 zurich:2 see:5 remain:1 broadly:3 entrench:1 current:3 trading:1 likely:1 stay:1 within:2 1:7 80:1 84:1 mark:6 say:21 gisela:1 steinhaeuser:2 senior:3 chase:2 bank:11 ag:1 resistance:2 climb:1 however:2 could:3 break:1 major:2 bad:1 u:3 merchandise:1 deficit:1 due:1 next:4 tuesday:1 theodor:1 stadelmann:2 julius:1 baer:1 co:1 ltd:1 hold:1 steady:1 swiss:4 franc:1 weaken:1 yen:5 possibly:1 140:2 milan:2 share:1 view:1 150:1 short:1 term:3 london:3 trader:3 fail:1 curb:1 underlie:1 bearishness:1 toward:1 negative:1 sentiment:1 yet:1 strong:1 enough:1 tempt:1 interbank:1 operator:2 test:3 downside:1 concern:1 finance:1 minister:1 official:1 still:1 washington:1 issue:1 statement:1 favour:1 keep:1 player:1 sideline:1 along:1 worry:1 provoke:1 fresh:2 central:3 intervention:1 near:2 express:1 nothing:2 change:5 reverse:1 downward:1 trend:1 several:1 centre:2 would:4 look:1 opportunity:1 willingness:1 defend:1 consistent:1 economic:2 fundamental:1 basic:1 policy:2 intention:1 outline:1 louvre:2 meeting:2 dave:1 jouhin:1 midland:1 go:1 put:1 somebody:1 resolve:2 soon:1 february:1 datum:1 may:1 provide:1 trigger:1 base:1 unlikely:1 position:3 week:2 ahead:1 long:1 easter:1 weekend:1 technical:1 825:1 145:1 83:1 146:1 guarantee:1 relatively:1 calm:1 stable:1 foreseeable:1 future:1 compare:1 extreme:1 volatility:1 first:2 month:3 year:1 one:2 german:3 wording:1 make:1 clear:1 lead:2 nation:1 want:1 drop:1 gradually:1 appreciate:1 87:2 upper:1 limit:1 suppose:1 target:1 economist:4 believe:1 ready:1 period:1 mainly:1 sideway:1 movement:1 sceptical:1 contribute:1 great:1 stability:1 substantially:1 give:1 big:1 boost:2 another:1 italian:1 77:1 three:1 monetary:1 source:2 ask:2 name:1 line:1 realistic:1 expectation:1 produce:1 problem:1 need:1 fiscal:1 redress:1 imbalance:1 different:1 timescale:1 operate:1 tell:1 reuters:1 political:1 process:1 take:1 time:1 alois:1 schwietert:1 chief:1 corp:1 basle:1 also:1 question:1 tone:1 evident:1 today:1 people:1 really:1 patent:1 remedy:1 note:1 yesterday:1 series:1 watch:1 carefully:1 banque:1 indosuez:1 focus:1 growth:2 rather:1 interest:1 rate:1 japan:1 west:1 germany:1 quick:1 agree:1 wary:1 push:1 far:1 quickly:1 coming:1 appear:1 use:1 muscle:1 | EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE
European currency markets reacted quietly
to the G-7 communique, with comments from bankers and dealers
ranging from disappointment that it was not more concrete to
surprise that the markets should have expected so much.
The dollar opened lower against virtually all currencies
and traded in a narrow range after the communique, which
reaffirmed support for the Paris accord on currency
stabilisation but contained no moves to strengthen it.
Dealers in Frankfurt and Zurich saw the dollar remaining
broadly entrenched in its current trading range.
'The dollar is likely to stay within a range of 1.80 to 1.84
marks,' said Gisela Steinhaeuser, senior dealer at Chase Bank
AG. She said there was some resistance to further climbs.
However, she said the dollar could break out of the range
with major surprises such as a worse-than-expected U.S.
Merchandise trade deficit, due next Tuesday.
Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd
in Zurich, said he expects the dollar to hold steady against
the mark and Swiss franc but to weaken further against the yen,
possibly to 140 yen.
A Milan banker shared Stadelmann's view, saying he expects
a dollar-yen range of 140-150 in the short term.
London traders said the G-7 communique failed to curb
underlying bearishness toward the dollar but this negative
sentiment was not yet strong enough to tempt interbank
operators to test the downside.
Concern that finance ministers and officials still in
Washington could issue more concrete statements in favour of
currency stabilisation kept players sidelined, along with
worries about provoking fresh central bank intervention in the
near term, the traders said.
Most Paris dealers expressed disappointment at the
communique, saying nothing has changed to reverse the dollar's
downward trend.
Traders in several centres said the market would look for
fresh opportunities to test the willingness of central banks to
defend current ranges, which the communique said were 'broadly
consistent with economic fundamentals and the basic policy
intentions outlined at the Louvre meeting.'
Dave Jouhin, senior dealer at Midland Bank in London, said
'They're going to put somebody's resolve to the test soon.' The
U.S. February trade data may provide the trigger, dealers said.
However, some dealers said London-based operators would be
unlikely to open major positions next week ahead of the long
Easter weekend. They saw near-term technical support at 1.825
marks and 145 yen and resistance about 1.83 marks and 146 yen.
Chase Bank's Steinhaeuser and other Frankfurt dealers said
the G-7 communique guaranteed a relatively calm and stable
market for the foreseeable future compared with the extreme
volatility seen in the first few months of this year.
One dealer at a German bank said the wording of the
communique made clear the leading nations did not want a
further dollar drop, and this was supporting the dollar.
The German dealer saw the dollar gradually appreciating to
1.87 marks, broadly seen as its upper limit within the Louvre
accord's supposed currency target range.
A Swiss bank economist said he believed the markets were
ready for a period of 'mainly sideways movement.'
But Milan dealers were sceptical about the communique
contributing to greater stability.
'Nothing has changed substantially to give the dollar a big
boost,' said one dealer, while another Italian banker said he
expects the dollar to trade between 1.77 and 1.87 German marks
in the next three months.
A Swiss monetary source, who asked not to be named, said
the communique had been in line with realistic expectations and
should not have produced disappointment.
'The problem is that the changes needed in fiscal and trade
policies to redress current imbalances are of a different
timescale than currency markets operate on,' the source told
Reuters, 'This is a political process which takes time.'
Alois Schwietert, chief economist at Swiss Bank Corp in
Basle, also questioned the tone of disappointment evident on
currency markets today. 'Did people really expect a patent
remedy?' he asked.
Bank economists in Paris noted yesterday's meeting was only
the first in a series and said the market would watch carefully
in the next few weeks for any changes in positions.
A senior economist with Banque Indosuez said the focus was
now on trade and growth rather than interest rates. Any move by
Japan and West Germany to boost their economic growth could
lead to a quick change in the U.S. Position.
Dealers in all centres agreed that markets would be wary in
pushing the dollar too far too quickly in the coming months
while central banks appear resolved to use their muscle to
support the Paris accord.
|
test/15444 | test/15444 |@title german:1 money:1 market:1 split:1 low:1 rate:1 prospect:1 |@word remark:1 central:2 banker:1 raise:1 hope:2 bundesbank:8 cut:3 rate:13 security:1 repurchase:5 pact:7 operator:1 remain:1 divided:1 likelihood:1 move:1 near:1 term:1 money:5 market:6 dealer:5 say:5 comment:1 board:1 member:1 claus:1 koehler:1 yesterday:2 need:1 curb:1 supply:2 growth:1 speculative:1 capital:1 inflow:1 west:1 berlin:1 state:1 bank:5 president:1 dieter:1 hiss:1 natural:1 low:3 limit:1 discount:2 however:1 immediate:1 impact:1 call:1 decline:1 3:4 65:1 75:2 pct:4 85:1 drop:1 tie:1 extra:1 liquidity:4 late:1 allotment:1 week:2 dash:1 allot:1 6:2 1:1 billion:8 mark:6 new:1 unchanged:1 80:1 thus:1 subtract:1 8:2 outgoing:1 14:1 9:1 expire:1 small:1 volume:4 award:1 line:1 present:2 liquid:1 condition:1 exlude:1 soon:1 70:1 continue:1 level:1 next:3 opportunity:1 lower:2 tender:4 expect:3 tuesday:2 official:1 already:1 favour:1 discreet:1 adjustment:2 rather:1 public:1 lead:1 may:2 either:1 set:2 fix:1 allocation:1 allow:2 case:1 since:1 january:1 22:1 else:1 15:1 2:1 flow:3 offset:1 incoming:1 fund:1 seven:2 back:1 deposit:1 well:1 hold:1 61:1 5:1 reserve:2 holding:1 average:1 daily:1 first:1 day:1 april:2 stand:1 59:1 still:1 estimate:1 51:1 require:1 | GERMAN MONEY MARKET SPLIT ON LOWER RATE PROSPECTS
Remarks by central bankers raised some
hopes the Bundesbank will cut rates on securities repurchase
pacts, but operators remained divided on the likelihood of a
move in the near term, money market dealers said.
Comments by Bundesbank board member Claus Koehler yesterday
that rate cuts were needed to curb money supply growth from
speculative capital inflows, and by West Berlin state central
bank president Dieter Hiss that there was no natural lower
limit to the discount rate had, however, no immediate impact.
Call money declined to 3.65/75 pct from 3.75/85 pct but the
drop was tied to extra liquidity in the market, dealers said.
Dealers said the Bundesbank's latest liquidity allotment
this week dashed some hopes of lower rates.
The Bundesbank allotted only 6.1 billion marks yesterday in
new liquidity in a repurchase pact at an unchanged rate of 3.80
pct, thus subtracting some 8.8 billion marks from the market,
as an outgoing 14.9 billion pact expired.
But some dealers said the smaller volume awarded by the
pact was in line with present liquid money market conditions,
and did not exlude a cut in the repurchase pact rate soon to
3.70 pct if money market rates continue at present levels.
The next opportunity for the Bundesbank to lower rates on
repurchase pacts will be in a tender expected next Tuesday.
Bundesbank officials have already said they favour more
discreet rate adjustments through repurchase pacts, rather than
the more public adjustment of leading rates.
The Bundesbank may either set a fixed allocation rate and
allow banks to tender for the volume, as has been the case
since it lowered its discount rate January 22, or else it may
allow banks to tender for the rate and set the volume itself.
Dealers expect volume of the tender to be lower than the
15.2 billion marks flowing out, to offset other incoming funds.
Some seven billion marks is expected to flow in next week.
This should then flow back into the market as it is deposited
with banks.
Banks were well supplied with liquidity, holding 61.5
billion marks in reserves at the Bundesbank on Tuesday.
Holdings of average daily reserves over the first seven
days of April stood at 59.6 billion marks, still above the
estimated 51 billion required for all of April.
|
test/15446 | test/15446 |@title thailand:1 renew:1 long:1 term:1 sugar:1 contract:1 trade:1 |@word thailand:1 negotiate:1 tomorrow:2 select:1 trade:1 house:1 renewal:1 long:1 term:1 raw:1 sugar:1 sale:1 contract:1 cover:1 next:1 five:1 year:1 rate:1 60:1 000:2 tonne:2 annually:1 trader:1 say:1 also:1 report:1 vague:1 talk:1 algeria:1 may:1 seek:1 50:1 raws:1 detail:1 unclear:1 | THAILAND TO RENEW LONG TERM SUGAR CONTRACTS -TRADE
Thailand is to negotiate tomorrow with
selected trade houses for renewal of long term raw sugar sales
contracts, to cover the next five years at a rate of 60,000
tonnes annually, traders said.
They also reported vague talk Algeria may be seeking 50,000
tonnes of raws tomorrow but details are unclear.
|
test/15447 | test/15447 |@title ec:1 launch:1 anti:1 dumping:1 probe:1 japanese:1 chip:1 |@word european:2 community:1 launch:1 investigation:2 allegation:1 dump:2 japanese:4 semiconductor:1 maker:1 move:1 diplomat:1 say:4 could:2 mark:1 intensification:1 world:1 trade:1 strain:1 tokyo:1 already:1 face:1 deadline:1 april:1 17:1 washington:1 imposition:1 300:1 mln:2 dlrs:1 worth:1 tariff:1 chip:2 import:1 u:3 ec:3 executive:1 commission:3 today:1 electrical:1 component:1 manufacturers:1 association:2 complain:1 firm:3 sell:1 high:1 capacity:1 eprom:2 type:1 erasable:1 programmable:1 read:1 memory:1 unfairly:1 low:1 price:1 japan:2 last:2 year:2 take:1 78:1 pct:3 170:1 dlr:1 market:2 60:1 1984:1 force:1 offer:1 product:1 discount:1 30:1 order:1 compete:1 believe:1 give:2 sufficient:1 element:1 proof:1 warrant:1 lead:1 impose:1 duty:1 find:1 complaint:1 justify:1 claim:1 accord:1 microchip:1 pricing:1 privilege:1 access:1 | EC LAUNCHES ANTI-DUMPING PROBE ON JAPANESE CHIPS
The European Community launched an
investigation into allegations of dumping by Japanese
semiconductor makers in a move which diplomats said could mark
an intensification of world trade strains.
Tokyo already faces a deadline of April 17 from Washington
for the imposition of 300 mln dlrs worth of tariffs on chips it
imports into the U.S.
The EC Executive Commission said today the European
Electrical Component Manufacturers Association complained that
Japanese firms were selling high capacity EPROM type (erasable
programmable read only memory) chips at unfairly low prices.
Japan last year took 78 pct of the 170 mln dlr EC EPROM
market, up from 60 pct in 1984. The EC firms said they had been
forced to offer their products at a discount of up to 30 pct in
order to compete with the Japanese.
The Commission said it believed the Association had given
sufficient elements of proof for dumping to warrant an
investigation, which could lead it to impose duties if it found
the complaints were justified.
The Commission claims last year's accord between the U.S.
And Japan on microchip pricing gives U.S. Firms privileged
access to the Japanese market.
|
test/15448 | test/15448 |@title swiss:1 launch:1 new:1 series:1 money:1 market:1 paper:1 |@word swiss:2 federal:1 government:1 launch:1 new:1 series:2 three:2 month:2 money:1 market:1 certificate:1 total:1 around:1 150:1 mln:2 franc:2 national:1 bank:1 say:1 subscription:1 close:1 april:2 14:1 payment:1 date:1 16:1 last:1 paper:1 issue:2 march:1 raise:1 147:1 3:2 price:1 99:1 142:1 pct:2 give:1 average:1 annual:1 yield:1 501:1 | SWISS TO LAUNCH NEW SERIES OF MONEY MARKET PAPER
The Swiss Federal Government will launch
a new series of three month money market certificates totalling
around 150 mln Swiss francs, the National Bank said.
Subscriptions close April 14 and payment date is April 16.
The last series of three month paper issued in March raised
147.3 mln francs at an issue price of 99.142 pct, giving an
average annual yield of 3.501 pct.
|
test/15449 | test/15449 |@title european:1 market:1 react:1 quietly:1 g:1 7:1 communique:1 |@word european:1 currency:3 market:2 react:1 quietly:1 g:1 7:1 communique:2 comment:1 banker:1 dealer:2 range:3 disappointment:1 concrete:1 surprise:1 expect:1 much:1 dollar:2 open:1 lower:1 virtually:1 trade:1 narrow:1 reaffirm:1 support:1 paris:1 accord:1 stabilisation:1 contain:1 move:1 strengthen:1 frankfurt:1 zurich:1 see:1 stay:1 broadly:1 entrench:1 current:1 trading:1 | EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE
European currency markets reacted quietly
to the G-7 communique, with comments from bankers and dealers
ranging from disappointment that it was not more concrete to
surprise that the markets should have expected so much.
The dollar opened lower against virtually all currencies
and traded in a narrow range after the communique, which
reaffirmed support for the Paris accord on currency
stabilisation but contained no moves to strengthen it.
Frankfurt and Zurich dealers saw the dollar staying broadly
entrenched in its current trading range.
|
test/15450 | test/15450 |@title finance:1 minister:1 agree:1 need:1 stability:1 |@word finance:2 minister:7 seven:3 major:2 industrialize:1 nation:1 agree:4 need:2 stabilize:2 currency:3 current:3 level:3 say:6 action:2 reduce:3 trade:3 imbalance:2 sustain:2 economic:3 growth:1 communique:6 issue:2 four:1 hour:1 meeting:6 u:1 treasury:1 end:2 last:1 night:1 value:1 dollar:3 basically:1 correct:1 welcome:2 new:1 measure:2 plan:2 japanese:2 boost:1 economy:2 west:2 german:1 gerhard:1 stoltenberg:1 call:2 good:2 brief:1 remark:1 exchange:3 reporter:1 seem:1 pleased:1 outcome:1 shortly:1 foreign:3 trading:1 open:3 tokyo:1 bank:4 japan:6 intervene:1 prevent:1 yen:2 rise:2 quickly:1 governor:2 reaffirm:3 commitment:2 cooperative:1 approach:1 recent:1 paris:2 however:1 essential:1 resist:1 protectionist:1 pressure:1 global:1 expansion:1 set:1 week:2 rule:1 liberal:1 democratic:1 party:1 stimulate:1 term:1 extraordinary:1 urgent:1 include:1 unprecedented:1 front:1 loading:1 public:1 work:1 expenditure:1 group:1 bring:1 together:1 central:2 industrial:1 democracy:1 united:2 states:2 germany:1 france:1 britain:1 italy:1 canada:1 cooperation:1 reach:1 february:1 22:1 rate:1 follow:1 continue:1 fall:1 despite:1 massive:1 purchase:1 around:2 postwar:1 low:1 come:1 grow:1 criticism:1 european:1 country:1 modest:1 effort:1 market:2 outside:1 competition:1 export:1 affirm:1 intention:2 domestic:1 service:1 elaborate:1 official:1 view:1 within:1 range:1 broadly:1 consistent:1 fundamental:1 basic:1 policy:1 outline:1 louvre:1 | FINANCE MINISTERS AGREE ON NEED FOR STABILITY
Finance ministers from seven major
industrialized nations agreed on the need to stabilize
currencies at current levels but said more action was needed to
reduce trade imbalances and sustain economic growth.
In a communique issued after a four-hour meeting at the
U.S. Treasury that ended last night, the ministers said the
value of the dollar and other currencies was basically correct
now, and they welcomed new measures planned by the Japanese to
boost their economy.
West German Finance Minister Gerhard Stoltenberg called it
a 'good meeting' and in brief remarks exchanged with reporters
other ministers seemed pleased with its outcome.
Shortly after the communique was issued and just as foreign
exchange trading opened in Tokyo, the Bank of Japan intervened
again to prevent the yen rising too quickly.
The communique said, 'The ministers and governors reaffirmed
the commitment to the cooperative approach agreed at the recent
Paris meeting. They agreed, however, that further actions will
be essential to resist rising protectionist pressures, sustain
global economic expansion and reduce trade imbalances.'
It welcomed the plans set this week by the Japan's ruling
Liberal Democratic Party to stimulate its economy with what the
communique termed 'extraordinary and urgent measures' including
an 'unprecedented front-end loading of public works
expenditures.'
The meeting of the so-called Group of Seven brought
together ministers and central bank governors of the seven
major industrial democracies, the United States, Japan, West
Germany, France, Britain, Italy and Canada.
The communique said the ministers reaffirmed the commitment
on cooperation reached in a meeting on February 22 in Paris
when they had agreed to stabilize foreign exchange rates at the
then-current levels.
In the weeks that followed, the dollar continued to fall
against the Japanese yen despite massive dollar purchases by
the Bank of Japan and other central banks and is now trading at
around postwar lows.
Japan has come under growing criticism from both the United
States and European countries for its only modest efforts to
open its markets to outside competition and to reduce its
exports.
The communique said Japan affirmed its intention to open
domestic markets to foreign goods and services but did not
elaborate.
It said the officials 'reaffirmed the view that around
current levels their currencies are within ranges broadly
consistent with economic fundamentals and the basic policy
intentions outlined at the Louvre meeting.'
|
test/15451 | test/15451 |@title aegon:1 expect:1 moderate:1 rise:1 1987:1 profit:1 |@word dutch:2 insurer:2 aegon:9 nv:1 aegn:1 report:1 6:1 4:1 pct:4 increase:2 1986:6 net:5 profit:8 327:1 1:1 mln:3 guilde:7 say:7 expect:1 moderate:1 1987:1 total:1 revenue:6 eight:1 low:5 7:2 97:1 billion:4 vs:1 8:1 1985:1 company:1 due:4 foreign:1 exchange:1 rate:2 change:5 accounting:2 practice:2 add:1 would:1 rise:4 seven:1 occur:1 operation:1 five:1 mainly:2 life:2 insurance:8 business:1 health:2 netherlands:2 also:1 despite:1 notable:1 shift:1 premium:1 high:3 personal:2 risk:1 damage:2 make:3 loss:2 car:1 specify:1 united:1 states:1 account:3 u:3 annuity:2 subject:1 strong:1 investment:2 influence:2 differently:1 traditional:1 another:1 fix:1 interest:1 result:1 incidental:2 31:1 negative:1 slightly:1 dollar:1 initial:2 cost:4 new:3 product:3 headquarter:1 hague:1 large:2 number:1 emerge:1 depress:1 somewhat:1 monumental:2 corp:2 merge:1 may:1 see:1 almost:1 completely:1 erode:1 small:1 contribution:1 group:1 write:1 657:1 goodwill:1 equity:1 2:1 71:1 december:1 3:1 46:1 year:1 | AEGON EXPECTS MODERATE RISE IN 1987 PROFITS
Dutch insurer AEGON NV <AEGN.AS>
reported a 6.4 pct increase in 1986 net profits to 327.1 mln
guilders and said it expected a moderate increase in profits
for 1987.
Total revenue was eight pct lower in 1986 at 7.97 billion
guilders vs 8.7 billion guilders in 1985. The company said its
revenues were down due to lower foreign exchange rates and a
change in accounting practice. It added that revenues would
have risen by about seven pct had those changes not occurred.
Revenue from Dutch operations rose five pct in 1986, mainly
due to its life insurance business.
Health insurance revenues in the Netherlands also rose
despite a notable shift to insurances with lower premiums and
higher personal risks.
Damage insurances made losses, mainly due to car damage
insurances. AEGON did not specify the loss.
In the United States, revenue in guilders from health and
life insurance was lower. AEGON said this was due to a change
in accounting for U.S. Annuities.
AEGON said annuities are subject to such strong personal
investment influences that it should be accounted differently
from the more traditional insurances.
This change in accounting practice and another change to
account for profits made on fixed interest investments,
resulted in an incidental rise in net profits of 31 mln
guilders.
AEGON said incidental negative influences on net profits
were slightly higher, being the lower dollar rate, high initial
costs for new products, and the cost of new headquarters in The
Hague.
In 1986, a large number of new insurance products emerged
in the Netherlands and the U.S., AEGON said. Large initial
costs for these products have depressed net profits somewhat.
Monumental Corp, a U.S. Insurer which merged with AEGON in
May 1986, saw its profits almost completely eroded by these
costs and made only a small contribution to the group's
profits.
AEGON said it has written-off 657 mln guilders in goodwill
for Monumental Corp.
AEGON's net equity was 2.71 billion guilders in December
1986, against 3.46 billion the year before.
|
test/15452 | test/15452 |@title g:1 7:1 issue:1 statement:1 meet:1 |@word follow:1 text:1 statement:2 group:1 seven:2 u:1 japan:4 west:1 germany:1 france:1 britain:1 italy:1 canada:1 issue:1 washington:1 meeting:4 yesterday:1 1:1 finance:1 minister:3 central:1 bank:1 governor:3 major:1 industrial:1 country:1 meet:1 today:1 continue:2 process:1 multilateral:1 surveillance:1 economy:2 pursuant:1 arrangement:1 strengthen:1 economic:3 policy:3 coordination:1 agree:3 1986:1 tokyo:1 summit:1 head:1 state:1 government:2 manage:1 director:1 international:1 monetary:1 fund:1 also:1 participate:1 2:1 reaffirm:3 commitment:1 cooperative:1 approach:1 recent:1 paris:1 note:1 progress:2 achieve:1 implement:2 undertaking:2 embody:1 louvre:4 agreement:2 however:1 action:1 essential:1 resist:1 rise:1 protectionist:1 pressure:1 sustain:1 global:1 expansion:1 reduce:1 trade:1 imbalance:1 connection:2 welcome:2 proposal:1 announce:1 govern:1 liberal:1 democratic:1 party:1 extraordinary:1 urgent:1 measure:1 stimulate:1 early:1 implementation:2 large:1 supplementary:1 budget:1 exceed:1 previous:1 year:1 well:1 unprecedented:1 front:1 end:1 loading:1 public:1 work:1 expenditure:1 intention:2 open:1 domestic:1 market:1 foreign:1 good:1 service:1 3:1 view:1 around:1 current:1 level:1 currency:1 within:1 range:1 broadly:1 consistent:1 fundamental:1 basic:1 outline:1 strong:1 conclude:1 present:1 prospective:1 provide:1 basis:1 close:1 cooperation:1 foster:1 stability:1 exchange:1 rate:1 | G-7 ISSUES STATEMENT AFTER MEETING
Following is the text of a statement
by the Group of Seven -- the U.S., Japan, West Germany, France,
Britain, Italy and Canada -- issued after a Washington meeting
yesterday.
1. The finance ministers and central bank governors of
seven major industrial countries met today.
They continued the process of multilateral surveillance of
their economies pursuant to the arrangements for strengthened
economic policy coordination agreed at the 1986 Tokyo summit of
their heads of state or government.
The managing director of the International Monetary Fund
also participated in the meeting.
2. The ministers and governors reaffirmed the commitment to
the cooperative approach agreed at the recent Paris meeting,
and noted the progress achieved in implementing the
undertakings embodied in the Louvre Agreement.
They agreed, however, that further actions will be
essential to resist rising protectionist pressures, sustain
global economic expansion, and reduce trade imbalances.
In this connection they welcomed the proposals just
announced by the governing Liberal Democratic Party in Japan
for extraordinary and urgent measures to stimulate Japan's
economy through early implementation of a large supplementary
budget exceeding those of previous years, as well as
unprecedented front-end loading of public works expenditures.
The government of Japan reaffirmed its intention to further
open up its domestic markets to foreign goods and services.
3. The ministers and governors reaffirmed the view that
around current levels their currencies are within ranges
broadly consistent with economic fundamentals and the basic
policy intentions outlined at the Louvre meeting.
In that connection they welcomed the strong implementation
of the Louvre Agreement.
They concluded that present and prospective progress in
implementing the policy undertakings at the Louvre and in this
statement provided a basis for continuing close cooperation to
foster the stability of exchange rates.
|
test/15453 | test/15453 |@title g:1 7:1 want:1 show:1 market:1 resolve:1 miyazawa:1 |@word japanese:2 finance:1 minister:2 kiichi:1 miyazawa:5 say:11 group:1 seven:3 g:4 7:4 country:2 reaffirm:1 paris:5 accord:3 stabilise:1 currency:4 convince:1 market:2 resolve:2 news:1 conference:1 today:1 meeting:2 central:1 bank:1 governor:1 believe:1 totally:1 new:2 statement:2 need:2 speculative:1 selling:1 reflect:1 economic:2 fundamental:3 since:3 change:2 reaffirmation:1 goal:1 also:3 note:1 test:1 nation:3 concentrate:1 yen:3 especially:1 mark:1 remain:1 stable:2 condition:1 worth:1 call:1 time:1 louvre:1 agreement:2 expression:2 current:1 level:2 rather:1 vague:2 idea:1 movement:1 past:1 several:1 week:1 within:1 range:1 agree:1 febraury:1 well:1 give:1 pin:1 point:1 could:1 adverse:1 impact:1 ask:1 japan:3 commit:1 fresh:1 measure:2 exceptional:1 among:1 appreciate:1 dollar:1 major:1 largely:1 rule:1 liberal:1 democratic:1 party:1 juste:1 adope:1 package:1 reflate:1 economy:1 suppose:1 produce:1 short:1 period:1 u:2 sanction:1 semiconductor:1 product:1 discuss:2 affect:1 talk:1 debt:2 problem:1 develop:1 way:1 proceed:1 line:1 initiative:1 outline:1 treasury:1 secretary:1 james:1 baker:1 18:1 month:1 ago:1 | G-7 WANTS TO SHOW MARKETS ITS RESOLVE - MIYAZAWA
Japanese Finance Minister Kiichi
Miyazawa said the Group of Seven (G-7) countries reaffirmed
their Paris accord on stabilising currencies to convince the
market of their resolve.
At a news conference after today's G-7 meeting, Miyazawa
said the ministers and central bank governors did not believe a
totally new statement was needed.
The speculative selling did not reflect economic
fundamentals, and since the fundamentals had not changed only a
reaffirmation of the goals of the Paris accord was needed, he
said.
He also noted that this test of the G-7 nations resolve had
concentrated on the yen, while other currencies, especially the
mark, had remained stable.
Miyazawa said any change in economic conditions since the
Paris accord was not worth being called fundamental.
'As I said at a time of Louvre (agreement), the expression
of 'current level' is rather vague idea,' he said.
The yen's movement in the past several weeks is within the
range agreed in Paris in Febraury, he said.
It was better to give a vague expression than pin-pointing
a level, which could have an adverse impact on the market,
Miyazawa said.
Asked why only Japan was committed to fresh measures in the
statement, he said Japan was exceptional among the seven
because the yen appreciated against the dollar while other
major currencies largely have been stable.
He also said Japan's ruling Liberal Democratic Party has
justed adoped a package to reflate the economy while other
nations are not supposed to produce new measures in a short
period since the Paris agreement.
Miyazawa also said the U.S. sanctions against Japanese
semiconductor products was not discussed through the G-7
meeting and did not affect the currency talks.
The seven nations discussed the debt problems of developing
countries and ways to proceed in line with the debt initiative
outlined by U.S. Treasury Secretary James Baker 18 months ago.
|
test/15454 | test/15454 |@title yen:1 see:1 rise:1 g:1 7:1 communique:1 |@word yen:9 likely:1 start:1 another:1 uneven:2 rise:1 dollar:10 major:2 currency:3 group:1 seven:2 communique:2 contain:1 nothing:1 new:2 bond:1 analyst:2 say:7 expect:2 something:1 one:1 trader:1 wall:1 street:1 securities:1 company:1 marc:1 cohen:2 republic:2 national:1 bank:2 york:1 market:4 impetus:1 drive:1 lower:1 hover:1 145:2 50:1 147:1 day:1 talk:2 dealer:3 restrain:2 underlying:1 bearishness:1 squared:1 position:1 ahead:1 wednesday:1 meeting:1 finance:2 minister:2 central:1 banker:1 top:1 industrialize:1 nation:1 washington:1 four:1 hour:1 g:1 7:1 issue:1 merely:1 reaffirm:1 recent:2 paris:2 agreement:1 view:1 prevail:1 level:4 broadly:2 consistent:1 economic:1 fundamental:2 exchange:1 rate:2 stability:1 foster:1 around:1 sink:1 144:1 75:1 early:1 tokyo:2 trading:1 line:2 154:1 146:1 still:2 138:1 130:1 ask:1 japanese:1 kiichi:1 miyazawa:1 fuel:1 speculation:1 amount:2 fluctuation:1 authority:2 prepared:1 tolerate:1 current:1 inside:1 range:2 agree:1 late:1 february:2 official:1 statement:1 week:1 indicate:1 key:1 psychological:1 150:1 low:1 end:1 permissible:1 warn:1 decline:1 would:1 probably:1 anticipate:1 concerted:1 effort:1 prop:1 via:1 mixture:1 open:2 intervention:1 public:1 comment:1 shortly:1 today:1 japan:1 detect:1 local:1 buy:1 moderate:1 rebound:1 20:1 source:1 may:1 also:1 wary:1 agressively:1 sell:1 tuesday:1 u:1 trade:1 datum:1 figure:1 show:1 deficit:1 13:1 billion:2 dlrs:1 provisional:1 14:1 8:1 january:1 | YEN SEEN RISING AFTER G-7 COMMUNIQUE
The yen is likely to start another
uneven rise against the dollar and other major currencies
because the Group of Seven communique contained nothing new,
currency and bond analysts here said.
'Is that it? I was expecting something more than that,' said
one trader at a major Wall Street securities company.
Marc Cohen of Republic National Bank of New York said: 'The
market now has the impetus to drive the dollar lower again.'
The dollar hovered between 145.50 and 147 yen in the days
just before the talks. Dealers restrained their underlying
bearishness and squared positions ahead of Wednesday's meeting
of the finance ministers and central bankers of the top seven
industrialized nations in Washington.
After more than four hours of talks, the G-7 issued a
communique which merely reaffirmed the recent Paris agreement's
view that prevailing currency levels were broadly consistent
with economic fundamentals and that exchange rate stability
should be fostered around these levels.
The dollar sank to 144.75 yen in early Tokyo trading.
'They said that the dollar/yen rate was broadly in line with
fundamentals when it was 154. Now they are saying it's in line
when it's at 146. Will this still be so at 138 or 130?,' asked
Republic's Cohen.
Japanese Finance Minister Kiichi Miyazawa fuelled
speculation about the amount of fluctuation the authorities are
prepared to tolerate by saying that the current yen level is
still inside the range agreed on in Paris in late February.
Official statements in recent weeks had indicated that the
key psychological level of 150 yen was at the lower end of the
authorities' permissible range.
Dealers and analysts warned that the dollar's decline would
probably be uneven. They anticipated a concerted effort to prop
up the dollar and restrain the yen via a mixture of open market
intervention and public comments.
Shortly after the Tokyo market opened today the Bank of
Japan was detected by local dealers buying moderate amounts of
dollars. The dollar rebounded to about 145.20 yen.
The sources said the market may also be wary of agressively
selling dollars for yen before Tuesday's February U.S. Trade
data. The figures are expected to show a deficit of 13 billion
dlrs, from a provisional 14.8 billion in January.
|
test/15455 | test/15455 |@title japan:1 business:1 leader:1 say:1 g:1 7:1 accord:1 worry:1 |@word leader:1 two:1 japan:4 top:1 business:1 group:2 say:5 separate:1 statement:2 seven:1 g:4 7:4 accord:3 reach:1 washington:1 yesterday:1 deep:1 concern:1 show:1 major:1 industrial:1 nation:2 regard:1 yen:4 current:1 level:3 appropriate:2 eishiro:1 saito:2 chairman:2 federation:1 economic:3 organization:1 keidanren:1 present:2 rate:3 well:1 adequate:1 elaborate:1 takashi:1 ishihara:2 committee:1 development:1 prevent:1 rise:2 understand:1 approve:1 excessively:1 since:1 paris:1 member:2 britain:1 canada:1 france:1 italy:1 u:1 west:1 germany:1 consider:1 currency:1 within:1 range:1 broadly:1 consistent:1 fundamental:1 call:1 prepare:1 intervene:1 market:1 strongly:1 enough:1 ensure:1 exchange:1 stabilise:1 | JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING
The leaders of two of Japan's top business
groups said in separate statements the Group of Seven (G-7)
accord reached in Washington yesterday is of deep concern to
Japan because it shows the major industrial nations regard the
yen's current level as appropriate.
Eishiro Saito, chairman of the Federation of Economic
Organizations (Keidanren), said the yen's present rate is well
above adequate levels. He did not elaborate.
Takashi Ishihara, chairman of the Japan Committee for
Economic Development, said the accord will not prevent the yen
from rising further.
'We do not understand why the G-7 approved present rates as
the yen has risen excessively since the Paris accord,' Ishihara
said.
G-7 members Britain, Canada, France, Italy, Japan, the U.S.
And West Germany said in a statement they consider their
currencies are now within ranges broadly consistent with
economic fundamentals.
Saito called on each G-7 member nation to prepare to
intervene in the market strongly enough to ensure exchange
rates are stabilised at appropriate levels.
|
test/15457 | test/15457 |@title unifirst:1 corp:1 unf:1 set:1 quarterly:1 |@word qtly:1 div:1 five:2 ct:2 vs:1 prior:1 pay:1 july:1 one:1 record:1 june:1 17:1 | UNIFIRST CORP <UNF> SETS QUARTERLY
Qtly div five cts vs five cts prior
Pay July One
Record June 17
|
test/15459 | test/15459 |@title trump:1 plaza:1 4th:1 qtr:1 net:1 |@word net:2 profit:3 2:1 529:1 000:3 vs:4 loss:1 1:2 066:1 revs:2 59:1 0:2 mln:5 52:1 6:1 year:1 15:1 4:1 865:1 247:1 231:1 note:1 company:1 become:1 wholly:1 operate:1 donald:1 trump:1 may:1 1986:1 acquire:1 50:1 pct:1 interest:1 former:1 operator:1 holiday:1 corp:1 hia:1 | <TRUMP PLAZA> 4TH QTR NET
Net profit 2,529,000 vs loss 1,066,000
Revs 59.0 mln vs 52.6 mln
Year
Net profit 15.4 mln vs profit 865,000
Revs 247.0 mln vs 231.1 mln
NOTE: Company became wholly owned and operated by Donald
Trump in May 1986, when he acquired 50 pct interest that had
been owned by former operator Holiday Corp <HIA>.
|
test/15460 | test/15460 |@title european:1 market:1 react:1 quietly:1 g:1 7:1 communique:1 |@word european:1 currency:5 market:5 react:1 quietly:1 g:3 7:3 communique:8 comment:1 banker:3 dealer:13 range:8 disappointment:2 concrete:2 surprise:2 expect:5 much:1 dollar:13 open:2 lower:1 virtually:1 trade:4 narrow:1 reaffirm:1 support:3 paris:2 accord:2 stabilisation:2 contain:1 move:1 strengthen:1 frankfurt:2 zurich:2 see:5 remain:1 broadly:3 entrench:1 current:2 trading:1 likely:1 stay:1 within:2 1:7 80:1 84:1 mark:6 say:18 gisela:1 steinhaeuser:2 senior:2 chase:2 bank:8 ag:1 resistance:2 climb:1 however:2 could:2 break:1 major:2 bad:1 u:2 merchandise:1 deficit:1 due:1 next:3 tuesday:1 theodor:1 stadelmann:2 julius:1 baer:1 co:1 ltd:1 hold:1 steady:1 swiss:2 franc:1 weaken:1 yen:5 possibly:1 140:2 milan:2 share:1 view:1 150:1 short:1 term:3 london:3 trader:3 fail:1 curb:1 underlie:1 bearishness:1 toward:1 negative:1 sentiment:1 yet:1 strong:1 enough:1 tempt:1 interbank:1 operator:2 test:3 downside:1 concern:1 finance:1 minister:1 official:1 still:1 washington:1 issue:1 statement:1 favour:1 keep:1 player:1 sideline:1 along:1 worry:1 provoke:1 fresh:2 central:2 intervention:1 long:2 express:1 nothing:2 change:2 reverse:1 downward:1 trend:1 several:1 centre:1 would:2 look:1 opportunity:1 willingness:1 defend:1 consistent:1 economic:1 fundamental:1 basic:1 policy:1 intention:1 outline:1 louvre:2 meeting:1 dave:1 jouhin:1 midland:1 go:1 put:1 somebody:1 resolve:1 soon:1 february:1 datum:1 may:1 provide:1 trigger:1 base:1 unlikely:1 position:1 week:1 ahead:1 easter:1 weekend:1 near:1 technical:1 825:1 145:1 83:1 146:1 guarantee:1 relatively:1 calm:1 stable:1 foreseeable:1 future:1 compare:1 extreme:1 volatility:1 first:1 month:2 year:1 one:2 german:3 wording:1 make:1 clear:1 lead:1 nation:1 want:1 drop:1 gradually:1 appreciate:1 87:2 upper:1 limit:1 suppose:1 target:1 economist:1 believe:1 ready:1 period:1 mainly:1 sideway:1 movement:1 sceptical:1 contribute:1 great:1 stability:1 substantially:1 give:1 big:1 boost:1 another:1 italian:1 77:1 three:1 | EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE
European currency markets reacted quietly
to the G-7 communique, with comments from bankers and dealers
ranging from disappointment that it was not more concrete to
surprise that the markets should have expected so much.
The dollar opened lower against virtually all currencies
and traded in a narrow range after the communique, which
reaffirmed support for the Paris accord on currency
stabilisation but contained no moves to strengthen it.
Dealers in Frankfurt and Zurich saw the dollar remaining
broadly entrenched in its current trading range.
'The dollar is likely to stay within a range of 1.80 to 1.84
marks,' said Gisela Steinhaeuser, senior dealer at Chase Bank
AG. She said there was some resistance to further climbs.
However, she said the dollar could break out of the range
with major surprises such as a worse-than-expected U.S.
Merchandise trade deficit, due next Tuesday.
Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd
in Zurich, said he expects the dollar to hold steady against
the mark and Swiss franc but to weaken further against the yen,
possibly to 140 yen.
A Milan banker shared Stadelmann's view, saying he expects
a dollar-yen range of 140-150 in the short term.
London traders said the G-7 communique failed to curb
underlying bearishness toward the dollar but this negative
sentiment was not yet strong enough to tempt interbank
operators to test the downside.
Concern that finance ministers and officials still in
Washington could issue more concrete statements in favour of
currency stabilisation kept players sidelined, along with
worries about provoking fresh central bank intervention in the
long term, the traders said.
Most Paris dealers expressed disappointment at the
communique, saying nothing has changed to reverse the dollar's
downward trend.
Traders in several centres said the market would look for
fresh opportunities to test the willingness of central banks to
defend current ranges, which the communique said were 'broadly
consistent with economic fundamentals and the basic policy
intentions outlined at the Louvre meeting.'
Dave Jouhin, senior dealer at Midland Bank in London, said
'They're going to put somebody's resolve to the test soon.' The
U.S. February trade data may provide the trigger, dealers said.
However, some dealers said London-based operators would be
unlikely to open major positions next week ahead of the long
Easter weekend. They saw near-term technical support at 1.825
marks and 145 yen and resistance about 1.83 marks and 146 yen.
Chase Bank's Steinhaeuser and other Frankfurt dealers said
the G-7 communique guaranteed a relatively calm and stable
market for the foreseeable future compared with the extreme
volatility seen in the first few months of this year.
One dealer at a German bank said the wording of the
communique made clear the leading nations did not want a
further dollar drop, and this was supporting the dollar.
The German dealer saw the dollar gradually appreciating to
1.87 marks, broadly seen as its upper limit within the Louvre
accord's supposed currency target range.
A Swiss bank economist said he believed the markets were
ready for a period of 'mainly sideways movement.'
But Milan dealers were sceptical about the communique
contributing to greater stability.
'Nothing has changed substantially to give the dollar a big
boost,' said one dealer, while another Italian banker said he
expects the dollar to trade between 1.77 and 1.87 German marks
in the next three months.
|
test/15462 | test/15462 |@title west:1 german:1 beet:1 planting:1 delay:1 three:1 week:1 |@word unseasonal:1 cold:1 weather:2 delay:1 sugar:1 beet:1 planting:3 west:2 germany:1 three:1 week:1 agriculture:1 ministry:2 say:3 spokesman:1 central:1 area:1 especially:1 rhineland:1 farmer:1 take:1 advantage:1 warm:1 start:1 past:1 two:1 day:1 german:1 intention:1 year:2 put:1 381:1 000:2 hectare:1 390:1 500:1 ha:2 last:1 add:1 1980:1 1985:1 average:1 405:1 | WEST GERMAN BEET PLANTINGS DELAYED THREE WEEKS
Unseasonal cold weather has delayed
sugar beet plantings in West Germany by up to three weeks, the
agriculture ministry said.
A ministry spokesman said in some central areas, especially
in the Rhineland, farmers have taken advantage of warmer
weather and started plantings in the past two days.
West German planting intentions this year are put at
381,000 hectares, down from 390,500 ha last year, he said,
adding that the 1980/1985 average was 405,000 ha.
|
test/15464 | test/15464 |@title step:1 saver:1 coda:1 say:1 warrant:1 exercise:1 |@word step:2 saver:2 data:1 systems:1 inc:1 say:2 bergen:1 richards:1 corp:1 exercise:2 warrant:2 buy:1 450:1 000:1 share:1 two:1 dlrs:2 issue:1 underwriter:1 initial:1 public:1 offering:1 march:1 aggregate:1 169:1 200:1 | STEP-SAVER <CODA> SAYS WARRANT EXERCISED
Step-Saver Data Systems Inc
said Bergen-Richards Corp has exercised a warrant to buy
450,000 Step-Saver shares at two dlrs each.
It said warrants issued to the underwriter in its initial
public offering were exercised in March for an aggregate of
169,200 dlrs.
|
test/15467 | test/15467 |@title coast:1 savings:1 csa:1 talk:1 buy:1 bank:1 |@word coast:2 savings:1 loan:3 association:2 say:2 talk:1 federal:1 saving:2 insurance:1 corp:1 acquisition:2 central:2 san:3 diego:2 operate:1 46:1 branch:1 management:1 guidance:1 fslic:1 since:1 may:1 1985:1 would:1 give:1 entry:1 joaquin:1 valley:1 market:1 besides:1 strengthen:1 presence:1 los:1 angeles:1 orange:1 county:1 area:1 | COAST SAVINGS <CSA> IN TALKS ON BUYING BANK
Coast Savings and Loan Association
said it is in talks with the Federal Savings and Loan Insurance
Corp on the acquisition of Central Savings and Loan Association
of San Diego.
Central, which operates 46 branches, has been under
management guidance of the FSLIC since May 1985.
Coast said the acquisition would give it an entry into the
San Joaquin Valley market besides strengthening its presence in
the San Diego, Los Angeles and Orange Counties areas.
|
test/15468 | test/15468 |@title bramall:1 acquire:1 gelco:1 26:1 3:1 mln:1 dlrs:1 c:1 |@word bramall:3 plc:1 say:1 statement:1 accompany:1 annual:1 result:1 propose:1 acquire:1 gelco:2 u:1 k:1 26:2 3:3 mln:4 dlrs:4 part:1 cost:1 meet:1 issue:1 2:1 14:1 new:1 ordinary:1 share:2 place:1 265p:1 acquisition:1 satisfy:1 initial:1 payment:3 25:1 cash:1 500:1 000:1 maximum:1 make:1 profit:1 achieve:1 year:1 end:1 july:1 31:1 1987:1 reach:1 certain:1 level:1 trade:1 6p:1 low:1 278p:1 | BRAMALL TO ACQUIRE GELCO FOR UP TO 26.3 MLN DLRS
<C.D. Bramall Plc> said in a statement
accompanying its annual results that it proposed to acquire
Gelco U.K. For some 26.3 mln dlrs.
Part of the cost will be met by the issue of 2.14 mln new
ordinary Bramall shares which are being placed at 265p each.
The acquisition will be satisfied by an initial payment of
some 25.3 mln dlrs in cash with further payments of 500,000
dlrs up to a maximum 26.3 mln dlrs. These further payments will
only be made if profits achieved by Gelco for the year ending
July 31, 1987 reach a certain level.
Bramall shares were trading 6p lower at 278p.
|
test/15471 | test/15471 |@title belgium:1 launch:1 bond:1 gold:1 warrant:1 |@word kingdom:1 belgium:1 launch:1 100:3 mln:1 swiss:1 franc:4 seven:1 year:1 note:3 warrant:3 attach:1 buy:2 gold:3 lead:1 mananger:1 credit:1 suisse:1 say:1 3:2 8:1 pct:1 coupon:1 price:3 par:1 payment:1 due:1 april:2 30:2 1987:1 final:1 maturity:1 1994:1 50:1 000:1 carry:1 15:1 two:1 require:1 allow:1 holder:1 gramme:2 2:3 450:1 entire:1 life:1 bond:1 late:1 zurich:1 045:1 070:1 per:1 | BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS
The Kingdom of Belgium is launching 100
mln Swiss francs of seven year notes with warrants attached to
buy gold, lead mananger Credit Suisse said.
The notes themselves have a 3-3/8 pct coupon and are priced
at par. Payment is due April 30, 1987 and final maturity April
30, 1994.
Each 50,000 franc note carries 15 warrants. Two warrants
are required to allow the holder to buy 100 grammes of gold at
a price of 2,450 francs, during the entire life of the bond.
The latest gold price in Zurich was 2,045/2,070 francs per
100 grammes.
|
test/15472 | test/15472 |@title fao:1 see:1 low:1 global:1 wheat:1 grain:1 output:1 1987:1 |@word u:2 n:1 food:3 agriculture:1 organisation:1 fao:5 say:4 global:1 wheat:1 coarse:1 grain:2 output:2 likely:1 fall:2 1987:3 supply:2 would:1 remain:1 adequate:1 meet:1 demand:1 monthly:1 outlook:1 bulletin:1 total:1 world:4 expect:1 38:1 mln:8 tonne:6 1:2 353:1 due:3 mainly:2 unusually:1 high:2 winter:1 loss:1 soviet:2 union:2 drought:1 china:2 reduce:2 planting:1 north:1 america:1 cereal:3 stock:3 end:1 1986:4 87:3 forecast:2 rise:1 47:1 record:3 452:1 soften:1 impact:1 production:1 unevenly:1 distribute:1 50:1 pct:2 hold:1 thus:1 security:1 prospect:1 88:1 many:1 develop:1 country:1 particularly:1 africa:1 depend:1 crucially:1 outcome:1 year:1 harvest:2 estimate:2 2:1 113:1 five:1 last:1 season:1 large:1 865:1 trade:1 revise:1 upwards:1 eight:1 179:1 likelihood:1 substantial:1 buying:1 | FAO SEES LOWER GLOBAL WHEAT, GRAIN OUTPUT IN 1987
The U.N. Food and Agriculture Organisation
(FAO) said global wheat and coarse grain output was likely to
fall in 1987 but supplies would remain adequate to meet demand.
FAO said in its monthly food outlook bulletin total world
grain output was expected to fall 38 mln tonnes to 1,353 mln in
1987, due mainly to unusually high winter losses in the Soviet
Union, drought in China and reduced plantings in North America.
World cereal stocks at the end of 1986/87 were forecast to
rise 47 mln tonnes to a record 452 mln tonnes, softening the
impact of reduced production. But stocks are unevenly
distributed, with about 50 pct held by the U.S.
'Thus the food security prospects in 1987/88 for many
developing countries, particularly in Africa, depend crucially
on the outcome of this year's harvests,' FAO said.
FAO said world cereal supplies in 1986/87 were estimated at
a record 2,113 mln tonnes, about five pct higher than last
season and due mainly to large stocks and a record 1986
harvest, estimated at 1,865 mln tonnes.
FAO's forecast of 1986/87 world cereals trade was revised
upwards by eight mln tonnes to 179 mln due to the likelihood of
substantial buying by China and the Soviet Union.
|
test/15476 | test/15476 |@title cb:1 bancshares:1 inc:1 cbtb:1 1st:1 qtr:1 net:1 |@word shr:1 27:1 ct:2 vs:3 24:1 net:1 5:1 223:1 000:2 4:2 682:1 avg:1 shrs:1 19:2 7:1 mln:2 note:1 result:1 reflect:1 pool:1 acquisition:1 first:1 community:1 bancshares:1 inc:1 march:1 31:2 1987:2 include:1 camden:1 bancorp:1 january:1 purchase:1 | CB AND T BANCSHARES INC <CBTB> 1ST QTR NET
Shr 27 cts vs 24 cts
Net 5,223,000 vs 4,682,000
Avg shrs 19.7 mln vs 19.4 mln
NOTE: Results reflected pooled acquisition of First
Community Bancshares Inc on March 31, 1987 and include Camden
Bancorp from January 31, 1987 purchase.
|
test/15477 | test/15477 |@title xicor:1 inc:1 xico:1 1st:1 qtr:1 march:1 22:1 net:1 |@word shr:1 profit:2 five:1 ct:2 vs:3 loss:2 16:1 net:2 689:1 000:4 1:1 910:1 revs:1 12:1 3:1 mln:1 9:1 432:1 note:1 1987:1 include:1 276:1 dlr:1 tax:1 credit:1 | XICOR INC <XICO> 1ST QTR MARCH 22 NET
Shr profit five cts vs loss 16 cts
Net profit 689,000 vs loss 1,910,000
Revs 12.3 mln vs 9,432,000
NOTE: 1987 net includes 276,000 dlr tax credit.
|
test/15478 | test/15478 |@title george:1 wimpey:1 say:1 benefit:1 restructuring:1 see:1 |@word george:1 wimpey:2 plc:1 wmpy:1 l:1 say:3 outlook:1 1987:1 look:1 encouraging:1 company:2 realise:1 continue:1 benefit:1 restructure:1 overall:2 financial:1 position:1 show:2 improvement:1 1986:2 reshaping:1 u:1 k:1 business:1 clearly:1 define:1 activity:1 relate:1 division:1 successfully:1 achieve:1 comment:1 statement:2 result:1 pretax:1 profit:1 42:1 pct:1 66:1 5:1 mln:1 stg:1 group:1 good:1 year:1 north:1 america:1 | GEORGE WIMPEY SAYS BENEFITS OF RESTRUCTURING SEEN
George Wimpey Plc <WMPY.L> said the
outlook for 1987 looked encouraging as the company realised the
continuing benefits of restructuring.
It said its overall financial position showed further
improvement in 1986 and the reshaping of its U.K. Business into
clearly defined and activity related divisions had been
successfully achieved.
Wimpey was commenting in a statement on its 1986 results
which showed pretax profits up 42 pct to 66.5 mln stg.
The group had a good overall year in North America, the
company said in a statement.
|
test/15479 | test/15479 |@title c:2 b:2 cmco:1 make:1 acquisition:1 |@word co:1 say:3 acquire:1 principal:1 asset:1 national:2 tech:2 industries:1 inc:1 telkom:1 corp:1 engage:1 sale:2 telemarketing:1 consumer:1 electronic:1 merchandise:1 business:1 house:1 import:1 n:1 l:1 industry:1 respectively:1 company:1 pay:1 total:1 8:1 700:1 000:1 dlrs:2 include:1 assumption:1 liability:1 23:1 mln:1 1986:1 | C.O.M.B. <CMCO> MAKES ACQUISITION
C.O.M.B. Co said it has acquired
the principal assets of National Tech Industries Inc and Telkom
Corp, which are engaged in the sale and telemarketing of
consumer electronic merchandise and do business as House of
Imports and N.L. Industries respectively.
The company said it paid a total of 8,700,000 dlrs,
including the assumption of liabilities.
National Tech had sales of about 23 mln dlrs for 1986, it
said.
|
test/15481 | test/15481 |@title belgium:1 launch:1 bond:1 gold:1 warrant:1 |@word kingdom:1 belgium:1 launch:1 100:3 mln:1 swiss:1 franc:4 seven:1 year:1 note:3 warrant:3 attach:1 buy:2 gold:3 lead:1 manager:1 credit:1 suisse:1 say:1 3:2 8:1 pct:1 coupon:1 price:3 par:1 payment:1 due:1 april:2 30:2 1987:1 final:1 maturity:1 1994:1 50:1 000:1 carry:1 15:1 two:1 require:1 allow:1 holder:1 gramme:2 2:3 450:1 entire:1 life:1 bond:1 late:1 zurich:1 045:1 070:1 per:1 | BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS
The Kingdom of Belgium is launching 100
mln Swiss francs of seven year notes with warrants attached to
buy gold, lead manager Credit Suisse said.
The notes themselves have a 3-3/8 pct coupon and are priced
at par. Payment is due April 30, 1987, and final maturity April
30, 1994.
Each 50,000 franc note carries 15 warrants. Two warrants
are required to allow the holder to buy 100 grammes of gold at
a price of 2,450 francs, during the entire life of the bond.
The latest gold price in Zurich was 2,045/2,070 francs per
100 grammes.
|
test/15482 | test/15482 |@title datatrak:1 inc:1 dtrk:1 3rd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 profit:4 nil:2 vs:6 net:2 27:1 622:1 5:1 556:1 sale:2 1:1 031:1 306:1 840:1 906:1 nine:1 mth:1 loss:4 one:1 ct:2 two:1 195:1 095:1 445:1 379:1 2:2 702:1 085:1 219:1 961:1 | DATATRAK INC <DTRK> 3RD QTR FEB 28 NET
Shr profit nil vs profit nil
Net profit 27,622 vs profit 5,556
Sales 1,031,306 vs 840,906
Nine mths
Shr loss one ct vs loss two cts
Net loss 195,095 vs loss 445,379
Sales 2,702,085 vs 2,219,961
|
test/15483 | test/15483 |@title miyazawa:1 say:1 yen:1 still:1 inside:1 paris:1 range:1 |@word japanese:1 finance:1 minister:1 kiichi:1 miyazawa:2 say:4 strengthening:1 yen:2 dollar:1 since:1 paris:3 agreement:2 within:1 range:2 agree:2 louvre:1 discussion:3 would:1 happen:1 past:1 several:1 week:1 outside:1 tell:1 press:1 conference:1 follow:1 group:1 seven:1 meeting:1 current:1 reaffirmation:1 solidarity:1 occur:1 still:1 place:1 | MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE
Japanese Finance Minister Kiichi
Miyazawa said the strengthening of the yen against the dollar
since the Paris Agreement was within the range agreed in the
Louvre discussions.
'I would say that what has happened (to the yen) in the past
several weeks was not outside the range we agreed to in the
discussions in Paris,' Miyazawa told a press conference
following the Group of Seven meeting here.
He said the current discussions were a 'reaffirmation' of
that agreement, saying the 'solidarity' that occurred in Paris
was still in place.
|
test/15484 | test/15484 |@title todd:1 shipyard:1 tod:1 strike:1 west:1 coast:1 |@word todd:3 shipyards:1 corp:1 say:5 production:1 worker:1 represent:1 multi:1 union:1 pacific:2 coast:2 metal:2 trades:2 district:1 council:3 san:1 francisco:1 division:4 strike:1 april:2 six:1 negotiation:2 expect:2 resume:1 end:1 month:1 also:1 collective:2 bargaining:2 effect:1 galveston:2 expire:1 17:1 continue:1 company:1 result:1 ballot:1 new:1 agreement:1 proposal:2 seattle:1 tabulate:1 close:1 business:1 tomorrow:1 recommend:1 acceptance:1 membership:1 | TODD SHIPYARDS <TOD> STRUCK ON WEST COAST
Todd Shipyards Corp said
production workers represented by the multi-union Pacific Coast
Metal Trades District Council at its San Francisco division
struck on April Six.
It said negotiations are expected to resume at the end of
this month.
Todd also said the collective bargaining division in effect
at its Galveston Division expires April 17, and negotiations
with the Galveston Metal Trades Council are continuing.
The company said results of balloting on a new collective
bargaining agreement proposal in its Seattle Division are
expected to be tabulated at the close of business tomorrow.
The Pacific Coast Council has recommended acceptance of
that proposal by membership, Todd said.
|
test/15485 | test/15485 |@title u:1 first:1 time:1 jobless:1 claim:1 fall:1 week:1 |@word new:1 application:1 unemployment:1 insurance:1 benefit:2 fall:1 seasonally:1 adjust:1 338:1 000:4 week:4 end:2 march:2 28:1 355:1 prior:1 labor:1 department:1 say:1 number:1 people:1 actually:1 receive:1 regular:1 state:1 program:1 total:1 2:2 436:1 21:1 late:1 period:1 figure:1 available:1 480:1 previous:1 | U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK
New applications for unemployment
insurance benefits fell to a seasonally adjusted 338,000 in the
week ended March 28 from 355,000 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 2,436,000 in the week ended
March 21, the latest period for which that figure was
available.
That was down from 2,480,000 the previous week.
|
test/15487 | test/15487 |@title clevite:2 industries:2 say:2 j:2 p:2 industry:2 offer:2 13:2 50:2 dlrs:2 share:2 buy:2 company:2 |@word | CLEVITE INDUSTRIES SAYS J.P. INDUSTRIES OFFERED 13.50
DLRS A SHARE TO BUY COMPANY
CLEVITE INDUSTRIES SAYS J.P. INDUSTRIES OFFERED 13.50
DLRS A SHARE TO BUY COMPANY
|
test/15489 | test/15489 |@title suntrust:1 banks:1 inc:1 sti:1 1st:1 qtr:1 net:1 |@word shr:1 54:1 ct:2 vs:3 49:1 net:2 70:1 2:4 mln:4 64:1 0:2 note:1 share:1 adjust:1 two:1 one:1 split:1 july:1 1986:2 result:1 restate:1 pool:1 acquisition:1 third:1 national:1 corp:1 december:1 chargeoff:1 15:1 dlrs:4 14:1 asset:1 25:1 8:1 billion:3 7:1 pct:3 year:1 earlier:1 deposit:1 21:1 1:2 9:1 4:1 loan:1 17:2 | SUNTRUST BANKS INC <STI> 1ST QTR NET
Shr 54 cts vs 49 cts
Net 70.2 mln vs 64.0 mln
NOTE: Share adjusted for two-for-one split in July 1986.
Results restated for pooled acquisition of Third NAtional
Corp in December 1986.
Net chargeoffs 15.0 mln dlrs vs 14.2 mln dlrs.
Assets 25.8 billion dlrs, up 7.2 pct from a year earlier,
deposits 21.1 billion, up 9.4 pct, and loans 17.1 billion dlrs,
up 17.2 pct.
|
test/15494 | test/15494 |@title international:1 thomson:1 report:1 u:1 fund:1 |@word international:1 thomson:1 organisation:1 ltd:1 say:3 report:1 financial:2 result:2 u:1 fund:1 rather:1 sterling:1 begin:1 jan:1 1:1 1987:1 change:1 apply:1 retroactively:1 prior:1 period:1 company:1 recent:1 investment:1 asset:1 locate:1 united:1 states:1 | INTERNATIONAL THOMSON TO REPORT IN U.S. FUNDS
<International Thomson Organisation Ltd>
said it will report financial results in U.S. funds rather than
sterling, beginning from Jan 1, 1987.
It said the change will not be applied retroactively to
prior financial periods.
The company said as a result of recent investments, most of
its assets now are located in the United States.
|
test/15495 | test/15495 |@title philip:1 crosby:1 associates:1 inc:1 pcro:1 4th:1 qtr:1 net:1 |@word shr:2 three:1 ct:4 vs:6 18:1 net:2 220:1 000:4 1:2 250:1 rev:1 11:1 8:1 mln:3 9:1 430:1 year:1 45:2 69:1 3:2 400:1 4:1 037:1 274:1 revs:1 34:1 | PHILIP CROSBY ASSOCIATES INC <PCRO> 4TH QTR NET
Shr three cts vs 18 cts
Net 220,000 vs 1,250,000
Revs 11.8 mln vs 9,430,000
Year
Shr 45 cts vs 69 cts
Net 3,400,000 vs 4,037,274
Revs 45.1 mln vs 34.3 mln
|
test/15496 | test/15496 |@title colonial:1 american:1 bankshares:1 corp:1 cabk:1 1st:1 qtr:1 |@word shr:1 52:1 ct:4 vs:3 40:1 qtly:1 div:1 18:1 15:1 prior:1 net:1 793:1 740:1 603:1 661:1 note:1 share:1 adjust:1 10:1 pct:1 stock:1 dividend:2 november:1 1986:1 pay:1 may:1 one:1 record:1 april:1 25:1 | COLONIAL AMERICAN BANKSHARES CORP <CABK> 1ST QTR
Shr 52 cts vs 40 cts
Qtly div 18 cts vs 15 cts prior
Net 793,740 vs 603,661
NOTE: Share adjusted for 10 pct stock dividend in November
1986.
Dividend pay May One, record April 25.
|
test/15500 | test/15500 |@title rpt:1 argentine:1 grain:1 oilseed:1 export:1 price:1 adjust:1 |@word argentine:1 grain:2 board:2 adjust:2 minimum:1 export:3 price:2 oilseed:1 product:1 dlrs:2 per:2 tonne:2 fob:2 previous:2 bracket:2 follow:2 sorghum:1 64:1 63:1 sunflowerseed:2 cake:1 expeller:1 103:1 102:1 pellet:2 101:1 100:1 meal:1 99:1 98:1 linseed:1 oil:5 274:1 264:1 groundnutseed:1 450:1 445:1 soybean:1 300:1 290:2 rapeseed:1 280:1 shipment:1 may:1 323:1 313:1 june:1 onwards:1 330:1 320:1 also:1 taxis:1 levy:1 bran:1 pollard:1 wheat:1 40:1 42:2 44:1 | RPT - ARGENTINE GRAIN/OILSEED EXPORT PRICES ADJUSTED
The Argentine Grain Board adjusted
minimum export prices of grain and oilseed products in dlrs per
tonne FOB, previous in brackets, as follows:
Sorghum 64 (63), sunflowerseed cake and expellers 103 (102)
, pellets 101 (100), meal 99 (98), linseed oil 274 (264),
groundnutseed oil 450 (445), soybean oil 300 (290), rapeseed
oil 290 (280).
Sunflowerseed oil for shipment through May 323 (313) and
june onwards 330 (320).
The board also adjusted export prices at which export taxes
are levied in dlrs per tonne FOB, previous in brackets, as
follows:
Bran pollard wheat 40 (42), pellets 42 (44).
|
test/15501 | test/15501 |@title clevite:1 clev:1 get:1 13:1 50:1 dlr:1 shr:1 offer:1 |@word clevite:5 industries:2 inc:2 say:3 receive:1 write:1 proposal:1 j:4 p:4 jpi:1 seek:1 buy:1 outstanding:1 share:3 13:2 50:1 dlrs:1 stock:1 trade:1 nasdaq:1 1:1 4:1 industry:3 recently:1 complete:1 acquisition:1 engine:1 parts:1 division:1 propose:1 transaction:2 would:2 finance:1 borrowing:1 available:1 bank:1 line:1 bridge:1 financing:1 facility:1 donaldson:1 lufkin:1 jenrette:1 securities:1 corp:1 agree:2 arrange:1 expedite:1 willing:1 start:1 cash:1 tender:1 within:1 five:1 day:1 upon:1 definitive:1 merger:1 confirmation:1 financial:1 result:1 condition:1 | CLEVITE <CLEV> GETS 13.50 DLR/SHR OFFER
Clevite Industries Inc said it
received a written proposal from J.P. Industries Inc <JPI>
seeking to buy all of its outstanding shares for 13.50 dlrs a
share.
Clevite's stock was trading on NASDAQ at 13-1/4.
J.P. Industries recently completed the acquisition of
Clevite's Engine Parts Division.
J.P. Industries said its proposed transaction would be
financed through borrowings under its available bank lines and
a bridge financing facility which Donaldson Lufkin and Jenrette
Securities Corp agreed to arrange.
To expedite the transaction, J.P. Industries said it would
be willing to start a cash tender for Clevite's shares within
five days after agreeing upon a definitive merger and
confirmation of Clevite's financial results and condition.
|
test/15503 | test/15503 |@title japan:1 business:1 leader:1 say:1 g:1 7:1 accord:1 worry:1 |@word leader:1 two:1 japan:3 top:1 business:1 group:2 say:4 separate:1 statement:1 seven:1 g:2 7:2 accord:3 reach:1 washington:1 yesterday:1 deep:1 concern:1 show:1 major:1 industrial:1 nation:1 regard:1 yen:4 current:1 level:2 appropriate:1 eishiro:1 saito:1 chairman:2 federation:1 economic:2 organization:1 keidanren:1 present:2 rate:2 well:1 adequate:1 elaborate:1 takashi:1 ishihara:2 committee:1 development:1 prevent:1 rise:2 understand:1 approve:1 excessively:1 since:1 paris:1 | JAPAN BUSINESS LEADERS SAY G-7 ACCORD WORRYING
The leaders of two of Japan's top business
groups said in separate statements the Group of Seven (G-7)
accord reached in Washington yesterday is of deep concern to
Japan because it shows the major industrial nations regard the
yen's current level as appropriate.
Eishiro Saito, chairman of the Federation of Economic
Organizations (Keidanren), said the yen's present rate is well
above adequate levels. He did not elaborate.
Takashi Ishihara, chairman of the Japan Committee for
Economic Development, said the accord will not prevent the yen
from rising further.
'We do not understand why the G-7 approved present rates as
the yen has risen excessively since the Paris accord,' Ishihara
said.
|
test/15504 | test/15504 |@title argentine:1 cattle:3 market:2 report:1 3:1 314:1 head:1 auction:1 linier:1 13:1 952:1 wednesday:2 9:1 217:1 last:1 thursday:1 trade:1 source:1 say:1 maximun:1 price:1 australe:1 per:1 kilo:3 dollar:1 equivalent:1 bracket:1 include:1 today:1 steer:2 480:2 1:4 02:1 0:8 658:1 015:1 654:1 460:1 05:1 677:1 032:1 665:1 cow:1 56:2 361:2 reuter:1 |@word | ARGENTINE CATTLE MARKET REPORT
ABOUT 3,314 HEAD OF CATTLE WERE
AUCTIONED IN LINIERS CATTLE MARKET, AGAINST 13,952 ON WEDNESDAY
AND 9,217 LAST THURSDAY, TRADE SOURCES SAID.
MAXIMUN PRICES, IN AUSTRALES PER KILO, WITH DOLLAR
EQUIVALENT IN BRACKETS, INCLUDED:
TODAY WEDNESDAY
STEERS OVER 480 KILOS 1.02(0.658) 1.015(0.654)
STEERS 460 TO 480 KILOS 1.05(0.677) 1.032(0.665)
COWS FOR CANNING 0.56(0.361) 0.56 (0.361) REUTER
|
test/15510 | test/15510 |@title u:1 k:1 money:1 market:1 deficit:1 revise:1 downward:1 |@word bank:1 england:1 say:1 revise:1 estimate:1 today:1 shortfall:1 350:1 mln:3 stg:2 400:1 take:1 account:1 103:1 morning:1 assistance:1 | U.K. MONEY MARKET DEFICIT REVISED DOWNWARD
The Bank of England said it has revised
its estimate of today's shortfall to 350 mln stg from 400 mln,
before taking account of 103 mln stg morning assistance.
|
test/15511 | test/15511 |@title physio:1 technology:1 phyt:1 see:1 loss:1 default:1 |@word physio:3 technology:3 inc:1 say:7 expect:1 third:1 quarter:3 end:2 march:1 31:1 loss:3 200:1 000:5 dlrs:6 default:3 bank:3 loan:2 resignation:2 chairman:2 chief:2 executive:2 officer:2 company:4 follow:1 four:1 modest:1 profit:2 year:2 ago:1 earn:1 11:1 one:1 cent:1 share:3 first:1 half:1 fiscal:1 1987:1 report:1 42:1 two:1 ct:2 compare:1 early:1 294:1 17:1 president:1 michael:1 r:1 hall:1 assume:1 duty:1 james:1 c:1 lane:2 constitute:1 non:3 compliance:3 series:1 convertible:1 subordinated:1 debenture:4 due:1 1996:1 agreement:2 merchant:1 kansas:1 city:1 explain:1 declaration:1 would:2 create:1 require:1 immediate:1 payment:1 1:1 8:1 mln:1 450:1 outstanding:1 credit:1 line:1 holder:1 intend:1 waive:1 reserve:1 right:1 withdraw:1 waiver:1 30:1 day:1 period:1 change:1 field:1 sale:1 force:1 independent:2 representative:1 dealer:1 employee:2 significantly:1 reduce:1 fix:1 overhead:1 statement:1 indicate:1 many:1 affect:1 move:1 become:1 dealter:1 certain:1 midwestern:1 state:1 continue:1 serve:1 director:1 add:1 | PHYSIO TECHNOLOGY <PHYT> SEES LOSS, IN DEFAULT
Physio Technology Inc said it
expects to have a third quarter, ended March 31, loss of about
200,000 dlrs and is in default on its bank loan because of the
resignation of chairman and chief executive officer.
The company said the loss followed four quarters of modest
profits. In the year ago quarter it earned 11,000 dlrs, or one
cent a share. For the first half of fiscal 1987, it reported a
profit of 42,000 dlrs, or two cts a share, compared to a year
earlier loss of 294,000 dlrs, or 17 cts a share.
It said President Michael R. Hall will assume the duties of
chief executive officer.
Physio Technology said the resignation of Chairman James C.
Lane can constitute non-compliance with its Series A
convertible subordinated debentures due 1996 and a default
under its agreement with the Merchants Bank of Kansas City.
It explained a declaration of non-compliance under the
debentures would create a a default under the loan agreements
requiring immediate payment of 1.8 mln dlrs of debentures and
about 450,000 dlrs outstanding under the bank credit line.
The company said the debenture holders intend to waive the
non-compliance, but reserve the right to withdraw the waiver at
the end of any 30 day period.
Physio Technology said it is changing its field sales force
to independent representatives and dealers from employees to
'significantly reduce its fixed overhead.'
Its statement did not indicate how many employees would be
affected by the move.
The company said Lane will become an independent dealter
for the company in certain midwestern states. He will continue
to serve as a director, it added.
|
test/15515 | test/15515 |@title washington:1 federal:1 savings:1 wfsl:1 2nd:1 qtr:1 net:1 |@word qtr:1 end:1 march:1 31:1 shr:2 one:1 dlr:1 vs:4 76:1 ct:1 net:2 11:1 9:1 mln:3 8:3 929:1 000:1 six:1 mth:1 1:2 92:1 dlrs:2 43:1 22:1 16:1 note:1 full:1 name:1 bank:1 washington:1 federal:1 savings:1 loan:1 association:1 | WASHINGTON FEDERAL SAVINGS <WFSL> 2ND QTR NET
Qtr ends March 31
Shr one dlr vs 76 cts
Net 11.9 mln vs 8,929,000
Six mths
Shr 1.92 dlrs vs 1.43 dlrs
Net 22.8 mln vs 16.8 mln
NOTE: full name of bank is washington federal savings and
loan association.
|
test/15520 | test/15520 |@title u:1 energy:1 future:1 call:1 unchanged:1 lower:1 |@word trader:4 expect:3 u:1 energy:1 future:5 open:2 unchanged:4 slightly:1 lower:1 morning:2 support:2 near:1 yesterday:3 low:2 crude:3 call:1 five:1 ct:2 weak:1 track:1 domestic:1 north:1 sea:1 brent:2 trade:2 18:1 01:1 dlrs:3 barrel:1 today:1 ten:1 new:1 york:1 close:1 say:3 supply:1 squeeze:1 15:1 day:1 forward:1 april:1 appear:1 end:1 product:2 fall:1 sharply:1 due:1 0:1 25:2 cent:1 followthrough:1 selling:1 gasoil:2 london:1 probably:1 lend:1 since:1 may:1 1:2 50:1 tonne:1 june:1 thin:1 condition:1 | U.S. ENERGY FUTURES CALLED UNCHANGED TO LOWER
Traders expect U.S. energy futures will
open unchanged to slightly lower this morning with support near
yesterday's lows.
Crude futures are called unchanged to five cts weaker
tracking unchanged domestic crudes and North Sea Brent crude,
which traded at 18.01 dlrs a barrel today, about ten cts below
yesterday's New York close.
Traders said the supply squeeze in 15-day forward April
Brent appears to have ended.
Product futures, which fell sharply yesterday, are due to
open unchanged to 0.25 cent lower, traders said.
Traders expect some followthrough selling in products but
said gasoil futures in London will probably lend some support
since they are trading as expected. May gasoil futures were off
1.50 dlrs a tonne this morning while June was down 1.25 dlrs in
thin conditions.
|
test/15521 | test/15521 |@title ponce:1 federal:1 bank:1 f:1 b:1 pfbs:1 1st:1 qtr:1 net:1 |@word shr:1 63:1 ct:2 vs:3 89:2 net:4 3:4 425:2 216:1 370:1 682:1 avg:1 shrs:1 5:1 421:1 330:1 803:1 note:1 qtrs:1 reflect:1 gain:1 sale:1 security:1 1:1 755:1 137:1 51:1 pct:2 1987:1 001:1 222:1 1986:1 | PONCE FEDERAL BANK F.S.B. <PFBS> 1ST QTR NET
Shr 63 cts vs 89 cts
Net 3,425,216 vs 3,370,682
Avg shrs 5,421,330 vs 3,803,425
NOTE: net for both qtrs reflects gains on sales of
securities of 1,755,137, or 51 pct of net, in 1987; and
3,001,222, or 89 pct of net in 1986.
|
test/15522 | test/15522 |@title bundesbank:2 see:2 reason:2 change:2 monetary:2 course:2 vice:2 president:2 schlesinger:2 |@word | BUNDESBANK SEES NO REASON TO CHANGE MONETARY COURSE -
VICE-PRESIDENT SCHLESINGER
BUNDESBANK SEES NO REASON TO CHANGE MONETARY COURSE -
VICE-PRESIDENT SCHLESINGER
|
test/15523 | test/15523 |@title u:1 k:1 money:1 market:1 deficit:1 remove:1 |@word bank:4 england:1 say:1 satisfy:1 revise:1 estimate:2 today:2 shortfall:1 money:1 market:1 provide:1 261:1 mln:6 stg:6 assistance:1 afternoon:1 operation:1 buy:1 band:2 one:2 60:1 bill:3 9:2 7:1 8:1 pct:2 two:1 200:1 treasury:1 13:1 16:1 bring:1 total:1 help:1 far:1 364:1 compare:1 deficit:1 350:1 | U.K. MONEY MARKET DEFICIT REMOVED
The Bank of England said it has satisfied
its revised estimate of today's shortfall in the money market,
providing 261 mln stg assistance in afternoon operations.
The Bank bought in band one, 60 mln stg bank bills at 9-7/8
pct and in band two 200 mln stg bank bills and one mln stg
treasury bills at 9-13/16 pct. This brings the total help so
far today to 364 mln stg, compared with its deficit estimate of
350 mln stg.
|
test/15527 | test/15527 |@title lebanese:1 pound:1 fall:1 sharply:1 dollar:1 |@word lebanese:1 pound:4 fall:1 sharply:1 u:1 dollar:3 today:1 dealer:2 attribute:1 decline:1 continued:1 political:2 uncertainty:1 close:2 118:2 25:1 75:1 compare:1 yesterday:1 115:2 60:1 80:1 deadlock:1 reflect:1 position:1 demand:1 less:1 offer:1 market:1 one:1 tell:1 reuters:1 18:1 january:1 1986:1 lose:1 30:1 pct:1 international:1 value:1 past:1 three:1 month:1 | LEBANESE POUND FALLS SHARPLY AGAINST DOLLAR
The Lebanese Pound fell sharply against
the U.S. Dollar again today with dealers attributing the
decline to continued political uncertainty.
The pound closed at 118.25/118.75 against the dollar
compared to yesterday's close of 115.60/115.80.
'Political deadlock is reflected in the pound's position.
There was more demand and less on offer in the market,' one
dealer told Reuters.
The pound, which was at 18 to the dollar in January, 1986,
has lost more than 30 pct of its international value over the
past three months.
|
test/15528 | test/15528 |@title brown:1 boveri:1 und:1 cie:1 ag:1 lift:1 1986:1 dividend:1 |@word dividend:1 1986:1 business:1 12:1 mark:2 per:1 share:1 vs:1 seven:1 company:1 subsidiary:1 switzerland:1 bbc:1 ag:1 brown:1 boveri:1 und:1 cie:1 bbcz:1 z:1 | BROWN BOVERI UND CIE AG LIFTS 1986 DIVIDEND
Dividend on 1986 business 12 marks per share vs seven
marks.
(Company is a subsidiary of Switzerland's BBC AG Brown
Boveri und Cie <BBCZ.Z>).
|
test/15531 | test/15531 |@title london:1 freight:1 market:1 feature:1 grain:1 u:1 |@word moderately:1 active:1 grain:4 fixing:2 report:1 u:2 none:1 business:1 involve:1 significant:1 voyage:2 continent:2 japan:3 ship:1 broker:1 say:1 steady:1 13:2 50:2 dlrs:10 pay:5 gulf:3 morocco:2 23:1 25:1 27:2 000:3 long:2 ton:2 taiwan:1 vessel:2 carry:1 500:2 bag:1 wheat:2 flour:1 aqaba:1 receive:1 lump:1 sum:1 472:1 great:2 lake:2 algeria:1 make:1 28:1 75:2 similar:2 towards:1 end:1 march:1 market:1 talk:1 suggest:1 federal:1 commerce:1 book:1 move:1 comanav:1 account:1 22:2 15:1 cargo:1 oilseed:1 british:1 columbia:1 confirmation:1 obtainable:1 shipper:1 agree:1 19:1 la:1 pallice:1 buenaventura:1 10:1 ghent:1 naples:1 venice:1 range:1 elsewhere:1 maize:1 east:1 london:1 soviet:1 charterer:1 reappear:1 timecharter:1 sector:1 secure:1 30:1 tonner:2 savona:1 trans:1 atlantic:1 round:1 trip:1 4:2 450:1 daily:2 31:1 antwerp:1 hamburg:1 250:1 | LONDON FREIGHT MARKET FEATURES GRAIN OUT OF U.S.
Moderately active grain fixing was
reported out of the U.S. But none of the business involved the
significant voyages to the Continent or Japan, ship brokers
said.
A steady 13.50 dlrs was paid from the U.S. Gulf to Morocco
and 23.25 dlrs was paid for 27,000 long tons from the Gulf to
Taiwan. A vessel carrying 13,500 long tons of bagged wheat
flour from the Gulf to Aqaba received a lump sum of 472,500
dlrs.
Grain from the Great Lakes to Algeria made 28 dlrs against
27.75 paid for similar fixing towards the end of March.
Market talk suggested a Federal Commerce vessel had been
booked to move grain from the Great Lakes to Morocco on Comanav
account at about 22 dlrs and 15.50 had been paid for a cargo of
oilseeds from British Columbia to Japan, but no confirmation
was obtainable.
On the Continent, shippers agreed 19 dlrs for wheat from La
Pallice to Buenaventura and 10.75 dlrs for grain from Ghent to
Naples/Venice range. Elsewhere, maize from East London to Japan
paid 22 dlrs.
Soviet charterers reappeared in the timecharter sector and
secured a 30,000 tonner from Savona for a trans-Atlantic round
trip at 4,450 dlrs daily and a 31,000 tonner from
Antwerp-Hamburg for a similar voyage at 4,250 dlrs daily.
|
test/15532 | test/15532 |@title hog:1 cattle:1 slaughter:1 guesstimate:1 |@word chicago:1 mercantile:1 exchange:1 floor:1 trader:1 commission:1 house:1 representative:1 guesstimate:2 today:1 hog:1 slaughter:2 287:1 000:8 295:1 head:2 versus:2 292:1 week:2 ago:4 322:1 year:2 cattle:1 124:1 128:1 129:1 134:1 | HOG AND CATTLE SLAUGHTER GUESSTIMATES
Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 287,000 to 295,000 head versus
292,000 week ago and 322,000 a year ago.
Cattle slaughter is guesstimated at about 124,000 to
128,000 head versus 129,000 week ago and 134,000 a year ago.
|
test/15535 | test/15535 |@title whirlpool:2 corp:2 1st:2 qtr:2 shr:2 66:2 ct:4 vs:2 67:2 |@word | WHIRLPOOL CORP 1ST QTR SHR 66 CTS VS 67 CTS
WHIRLPOOL CORP 1ST QTR SHR 66 CTS VS 67 CTS
|
test/15536 | test/15536 |@title brazilian:1 soy:1 rainfall:2 follow:1 record:1 24:1 hour:1 1200:1 gmt:1 today:1 parana:1 state:2 cascavel:1 nil:6 ponta:1 grossa:1 campo:1 mourao:1 londrina:1 maringa:1 rio:1 grando:1 sul:1 passo:1 fundo:1 santa:1 maria:1 7:1 0:1 millimetre:1 cruz:1 alta:1 8:1 5:1 mm:2 sao:1 luiz:1 gonzaga:1 4:2 reuter:1 |@word | BRAZILIAN SOY RAINFALL
THE FOLLOWING RAINFALL WAS RECORDED IN
THE 24 HOURS UP TO (1200) GMT TODAY
PARANA STATE: CASCAVEL NIL, PONTA GROSSA NIL,CAMPO MOURAO
NIL, LONDRINA NIL, MARINGA NIL.
RIO GRANDO DO SUL STATE: PASSO FUNDO NIL, SANTA MARIA 7.0
MILLIMETRES, CRUZ ALTA 8.5 MM, SAO LUIZ GONZAGA 4.4 MM. REUTER
|
test/15539 | test/15539 |@title bundesbank:1 see:1 change:1 monetary:1 course:1 |@word bundesbank:5 see:1 current:2 reason:1 change:1 monetary:3 course:2 vice:1 president:4 helmut:1 schlesinger:6 tell:1 reuters:1 telephone:1 interview:1 respond:2 question:2 follow:1 remark:2 yesterday:1 board:1 member:1 claus:1 koehler:1 west:1 berlin:1 state:2 central:5 bank:7 dieter:1 hiss:1 dealer:1 say:7 revive:1 speculation:1 german:2 interest:1 rate:4 cut:2 may:1 discussion:1 comment:2 two:2 council:3 colleague:1 add:2 last:1 meeting:1 april:1 2:1 discuss:1 economic:2 situation:1 mood:1 subdue:1 optimism:1 particularly:1 influence:1 news:1 bring:1 several:1 much:1 go:1 better:1 impression:1 gain:1 public:1 january:2 figure:1 meantime:1 superseded:1 industrial:1 output:1 fall:2 3:1 0:2 pct:3 decline:1 9:2 december:2 new:1 industry:1 order:1 1:1 unchanged:1 economist:1 together:1 show:1 economy:1 would:1 either:1 stagnate:1 contract:1 first:1 quarter:1 1987:1 aside:1 development:1 steady:1 important:1 hold:1 dollar:1 mark:1 around:1 level:1 karl:1 otto:1 poehl:1 attend:1 washington:2 world:1 imf:1 meet:1 ask:1 however:1 could:2 move:2 repurchase:2 agreement:1 setting:1 next:2 tender:1 due:1 tuesday:1 since:1 give:1 opinion:1 theme:1 every:1 14:1 day:1 hardly:1 probable:1 whether:1 away:1 policy:1 targette:2 growth:1 toward:1 one:1 currency:1 subject:1 negotiation:1 still:1 progress:1 | BUNDESBANK SEES NO CHANGE IN MONETARY COURSE
The Bundesbank sees no current reason
to change monetary course, vice-president Helmut Schlesinger
told Reuters in a telephone interview.
Schlesinger was responding to questions following remarks
yesterday by Bundesbank board member Claus Koehler and West
Berlin state central bank president Dieter Hiss, which, dealers
said, revived some speculation that German interest rate cuts
may once again be under discussion.
Schlesinger said he had no comment on the remarks of his
two central bank council colleagues.
But he added that the last central bank council meeting on
April 2 had discussed the economic situation with a mood of
'subdued optimism,' particularly influenced by the news brought
by several state central bank presidents.
'Much is going better than the impression gained by the
public from the January figures, which have been in the
meantime superseded,' he said.
German January industrial output fell 3.0 pct after a
decline of 0.9 pct in December. New industry orders fell 1.9
pct after they had been unchanged in December.
Bank economists said that the two together showed the
economy would either stagnate or contract in the first quarter
of 1987.
Aside from the economic developments, Schlesinger added, a
steady monetary course was important to hold the dollar/mark
rate around current levels as Bundesbank president Karl Otto
Poehl had said while attending the Washington World Bank/IMF
meeting.
Asked, however, if the Bundesbank could move to cut rates
on repurchase agreements at the setting of the next repurchase
tender, due next Tuesday, Schlesinger said, 'Since the central
bank council gives its opinion on this theme only every 14
days, this is hardly probable.'
Responding to the question whether the Bundesbank had moved
away from a policy of targetting monetary growth toward one of
targetting currency rates, Schlesinger said he could have no
comment on the subject while negotiations were still in
progress in Washington.
|
test/15540 | test/15540 |@title brazilian:1 coffee:1 rainfall:2 follow:1 record:1 area:1 past:1 24:1 hour:1 parana:1 state:3 umuarama:1 nil:12 paranavai:1 londrina:1 maringa:1 sao:3 paulo:1 presidente:1 prudente:1 votuporanga:1 franca:1 catanduva:1 carlos:1 simao:1 minas:1 gerais:1 guaxupe:1 tre:1 pontas:1 reuter:1 |@word | BRAZILIAN COFFEE RAINFALL
THE FOLLOWING RAINFALL WAS RECORDED IN
THE AREAS OVER THE PAST 24 HOURS
PARANA STATE: UMUARAMA NIL, PARANAVAI NIL, LONDRINA NIL,
MARINGA NIL.
SAO PAULO STATE PRESIDENTE PRUDENTE NIL, VOTUPORANGA NIL,
FRANCA NIL, CATANDUVA NIL, SAO CARLOS NIL, SAO SIMAO NIL.
MINAS GERAIS STATE: GUAXUPE NIL, TRES PONTAS NIL. REUTER
|
test/15542 | test/15542 |@title e:2 f:2 hutton:2 lbo:2 inc:2 say:2 tender:2 offer:2 pc:2 acquisittion:2 purolator:2 courier:2 expire:2 |@word | E.F. HUTTON LBO INC SAID TENDER OFFER BY PC ACQUISITTION
FOR PUROLATOR COURIER EXPIRED
E.F. HUTTON LBO INC SAID TENDER OFFER BY PC ACQUISITTION
FOR PUROLATOR COURIER EXPIRED
|
test/15543 | test/15543 |@title world:1 bank:1 support:1 sri:1 lanka:1 deficit:1 cut:1 |@word world:2 bank:3 support:2 sri:4 lanka:4 development:1 program:1 provide:1 country:1 reduce:1 budget:2 current:1 account:1 deficit:2 ministry:2 finance:2 say:4 president:1 barber:1 conable:1 meeting:1 minister:1 ronnie:1 de:2 mel:2 washington:1 also:2 emphasise:1 need:1 structural:1 adjustment:1 reform:1 economy:1 batter:1 five:1 year:2 separatist:1 disturbance:1 official:1 expect:1 surpass:1 project:1 28:1 7:1 billion:4 rupee:3 defence:1 spending:1 already:1 two:1 targette:1 10:1 likely:1 grow:1 ask:1 give:1 6:1 5:1 balance:1 payment:1 | WORLD BANK TO SUPPORT SRI LANKA IF DEFICITS CUT
The World Bank will support Sri Lanka's
development program provided the country reduces its budget and
current account deficits, the Ministry of Finance said.
It said Bank President Barber Conable at a meeting with Sri
Lanka's Finance Minister Ronnie de Mel in Washington also
emphasised the need for structural adjustment and reform to the
economy, battered by five years of separatist disturbances.
Officials said Sri Lanka's budget deficit this year is
expected to surpass the projected 28.7 billion rupees while
defence spending, already up by two billion rupees from a
targetted 10 billion, is also likely grow.
The Ministry said de Mel asked the World Bank to give Sri
Lanka 6.5 billion rupees balance of payments support.
|
test/15544 | test/15544 |@title e:2 f:2 hutton:2 lbo:2 inc:2 say:2 unit:2 terminate:2 merger:2 agreement:2 purolator:2 courier:2 |@word | E.F. HUTTON LBO INC SAYS UNIT TERMINATES MERGER AGREEMENT
WITH PUROLATOR COURIER
E.F. HUTTON LBO INC SAYS UNIT TERMINATES MERGER AGREEMENT
WITH PUROLATOR COURIER
|
test/15545 | test/15545 |@title gemina:1 comment:1 ambrosiano:1 report:1 |@word hold:1 company:1 gemina:3 spa:2 say:5 comment:1 italian:3 press:1 report:2 today:1 acquire:1 12:1 pct:1 stake:2 nuovo:1 banco:1 ambrosiano:3 daily:1 la:1 repubblica:1 pay:1 205:1 billion:1 lira:1 shareholding:1 several:1 bank:2 spokeswoman:2 tell:1 reuter:1 nothing:1 milan:1 base:1 information:1 time:1 february:1 chairman:1 giovanni:1 bazoli:1 foreign:1 domestic:1 firm:1 express:1 interest:1 buy:1 | GEMINA HAS NO COMMENT ON AMBROSIANO REPORT
Holding company <Gemina Spa> said it had
no comment on an Italian press report today that it has
acquired a 12 pct stake in <Nuovo Banco Ambrosiano Spa>.
Italian daily La Repubblica said that Gemina paid 205
billion lire for the shareholding from several Italian banks. A
Gemina spokeswoman told Reuters, 'We have nothing to say about
the report.'
A spokeswoman for Milan-based Ambrosiano said, 'We have no
information at this time.' In February, Ambrosiano chairman
Giovanni Bazoli said foreign and domestic firms have expressed
interest in buying stakes in the bank.
|
test/15547 | test/15547 |@title volkswagen:1 dividend:1 unchanged:1 1986:1 |@word dividend:2 1986:1 business:1 unchanged:1 10:1 mark:5 per:1 ordinary:1 share:2 company:4 also:1 set:1 11:1 new:1 preference:1 issue:1 last:1 year:1 note:1 say:1 profit:2 match:1 1985:2 level:1 despite:1 provision:1 480:1 mln:3 connect:1 alleged:1 currency:1 fraud:1 group:1 net:2 596:1 parent:1 477:1 full:1 name:1 volkswagen:1 ag:1 vowg:1 f:1 | VOLKSWAGEN DIVIDEND UNCHANGED ON 1986
Dividend on 1986 business unchanged at 10 marks per
ordinary share. Company also set dividend of 11 marks for new
preference shares, which were issued last year.
(Note: Company has said profit will match 1985 level,
despite provisions of 480 mln marks connected with alleged
currency fraud. Group net profit in 1985 was 596 mln marks,
parent company net was 477 mln marks. Company's full name is
Volkswagen AG <VOWG.F>).
|
test/15548 | test/15548 |@title whirlpool:1 corp:1 whr:1 1st:1 qtr:1 net:1 |@word shr:1 66:1 ct:2 vs:4 67:1 net:1 48:1 700:1 000:2 49:1 300:1 sale:1 961:1 0:1 mln:2 870:1 6:1 avg:1 shrs:1 74:1 123:1 837:1 73:1 374:1 398:1 | WHIRLPOOL CORP <WHR> 1ST QTR NET
Shr 66 cts vs 67 cts
Net 48,700,000 vs 49,300,000
Sales 961.0 mln vs 870.6 mln
Avg shrs 74,123,837 vs 73,374,398
|
test/15549 | test/15549 |@title u:1 say:1 view:1 g:1 7:1 meeting:1 major:1 success:1 |@word united:4 states:4 long:1 seek:1 japanese:5 action:3 stimulate:1 economy:2 appear:3 satisfied:1 tokyo:3 late:1 package:2 major:3 development:1 allow:1 lead:3 industrial:3 nation:6 reaffirm:2 agreement:3 stabilize:1 currency:10 monetary:6 source:5 say:12 believe:2 u:4 treasury:1 secretary:2 james:1 baker:2 consider:2 announce:2 yesterday:5 stimulation:1 statement:3 seven:4 power:1 endorse:1 yen:5 rise:3 around:1 153:1 dollar:5 level:1 february:3 22:1 paris:7 accord:3 145:2 today:1 initial:1 reaction:1 market:4 far:1 east:1 demonstrate:1 financial:2 unconvinced:1 yet:1 reflect:1 economic:4 fundamental:2 even:2 though:2 country:3 sink:1 one:4 point:1 despite:1 intervention:3 bank:2 japan:5 kiichi:1 miyazawa:3 finance:4 minister:5 movement:1 since:2 consistent:2 trading:1 range:5 agree:3 defend:1 talk:2 would:4 happen:1 past:2 several:1 week:2 outside:1 discussion:1 supplementary:1 budget:2 worth:1 34:1 48:1 billion:4 dlrs:3 rule:1 liberal:1 democratic:1 party:1 eve:1 departure:2 washington:2 attend:1 meeting:4 strongly:1 word:1 term:3 extraordinary:1 urgent:1 note:1 current:2 exchange:3 rate:4 within:1 broadly:1 reality:1 group:1 west:4 germany:4 france:2 britain:1 italy:1 canada:1 therefore:1 repeat:1 willingness:1 continue:2 close:1 cooperation:3 foster:1 stability:2 result:2 concerted:1 central:2 8:1 9:1 halt:1 fall:3 relatively:3 unsuccessful:1 scale:1 many:1 unprecedented:1 recent:2 year:3 also:3 understand:1 extremely:1 successful:1 light:1 announcement:1 grow:1 feeling:1 among:1 banker:1 medium:1 policy:2 replace:1 bickering:1 short:1 difference:1 whose:1 anything:1 like:1 face:1 win:1 acceptance:1 acceptable:1 bonn:3 gerhard:1 stoltenberg:1 argue:1 shift:1 need:1 remedy:1 huge:1 imbalance:2 trade:5 surplus:1 america:1 deficit:3 already:1 take:1 place:1 mention:1 make:4 however:1 commitment:1 cut:2 imply:2 reafffirmation:1 european:3 nations:1 essential:1 curb:1 record:1 shortfall:1 reach:1 nearly:1 170:1 last:1 similar:1 argument:1 capitol:1 hill:1 earlier:1 federal:1 reserve:1 board:1 chairman:1 paul:1 volcker:2 sharp:3 redress:1 clearly:1 pose:1 substantial:1 risk:1 renew:1 inflationary:1 momentum:1 could:1 undermine:1 confidence:1 future:1 warn:1 may:1 force:1 politically:1 independent:1 fed:1 drive:2 interest:1 privately:1 welcome:1 remain:1 stable:1 unit:1 worry:2 weak:1 blunts:1 export:1 monolith:1 concentrate:1 meanwhile:1 coordination:1 binding:1 canadian:1 michael:1 wilson:2 good:1 progress:1 meet:2 june:1 summit:1 prepare:1 report:1 leader:1 back:1 international:1 fund:1 want:1 norm:1 limited:1 number:1 objective:2 growth:1 inflation:1 condition:1 balance:2 account:1 deviation:1 guideline:1 consultation:1 whether:1 corrective:1 require:1 inclusion:1 london:1 move:1 direction:1 target:2 zone:2 reagan:1 administration:1 unsuccessfully:1 sound:1 ally:1 system:1 limit:1 fluctuation:1 concept:1 much:1 rigid:1 secret:1 mark:1 free:1 | U.S. SAID TO VIEW G-7 MEETING AS MAJOR SUCCESS
The United States, which has long
sought Japanese action to stimulate its economy, appears to be
satisfied Tokyo's latest package is a major development and
allows leading industrial nations to reaffirm their agreement
to stabilize currencies.
Monetary sources said they believed that U.S. Treasury
Secretary James Baker considered Tokyo's package, announced
yesterday, to be a major stimulation of the Japanese economy.
But yesterday's statement by seven leading industrial
powers endorses the yen's rise from around 153 to the dollar,
the level at the February 22 Paris Accord, to about 145 today.
And the initial reaction of currency markets in the Far
East demonstrates that financial markets are unconvinced that
currencies yet reflect economic fundamentals, even though the
countries appear to do so. The yen sank below 145 at one point
despite intervention by the Bank of Japan.
Kiichi Miyazawa, Japan's Finance Minister, said the
movement since Paris was consistent with currency trading
ranges the nations agreed to defend in the February talks.
'I would say that what has happened (to the yen) in the past
several weeks was not outside the range we agreed to in the
discussions in Paris,' Miyazawa said yesterday.
The supplementary budget worth about 34.48 billion dlrs was
announced by the ruling Liberal Democratic Party on the eve of
Miyazawa's departure for Washington, to attend yesterday's
meetings of leading industrial nations.
In a strongly worded statement terming the Japanese action
'extraordinary and urgent', the meeting reaffirmed the Paris
Accord by noting that current exchange rates are within ranges
broadly consistent with fundamentals, or economic reality.
The Group of Seven -- the United States, Japan, West
Germany, France, Britain, Italy and Canada -- therefore
repeated their willingness to continue close cooperation to
foster exchange rate stability.
The cooperation agreement has resulted in concerted central
bank intervention of 8 billion to 9 billion dlrs to halt the
dollar's fall. While relatively unsuccessful, the scale of
intervention between so many nations is unprecedented in recent
years. Monetary sources also said they understood that
Secretary Baker considered the meeting to be extremely
successful in the light of the Japanese announcement.
They also said there was a growing feeling among the
finance ministers and central bankers that cooperation over
medium-term policies has replaced the bickering over short-term
differences in past meetings.
West Germany, whose currency has not risen anything like
the yen since the Paris Agreement, appears from the face of
yesterday's statement to have won acceptance from other
countries that its exchange rate is acceptable.
Bonn's finance minister Gerhard Stoltenberg argues that
major currency shifts needed to remedy the huge imbalance
between West Germany and Japan's trade surpluses and America's
trade deficit have already taken place.
No mention was made, however, of the U.S. commitment to cut
the budget deficit even though it is implied in the
reafffirmation of Paris.
European nations and Japan believe deficit cuts are
essential to curbing the record U.S. trade shortfall that
reached nearly 170 billion dlrs last year.
A similar argument was made on Capitol Hill earlier this
week by Federal Reserve Board chairman Paul Volcker. A further
sharp fall to redress trade imbalances would 'clearly pose
substantial risks of renewed inflationary momentum and could
undermine confidence in future financial stability,' he said.
Volcker warned a further dollar fall might force the
politically independent Fed to drive up interest rates.
Monetary sources said that, privately, West Germany
welcomed the rise in the yen against the dollar while its own
currency remained relatively stable against the U.S. unit.
Bonn and other European nations worry that once the weak
dollar blunts Tokyo's export drive to the United States, the
Japanese monolith will concentrate on European markets.
The ministers, meanwhile, also continued talks on making
their policy coordination more binding and one, Canadian
Finance Minister Michael Wilson, said good progress was made.
Wilson said they will meet before the June Economic Summit
to prepare a report for the leaders of the seven nations.
The United States and France, backed by the International
Monetary Fund, want the seven to agree on ranges or 'norms' for a
limited number of economic objectives such as growth,
inflation, monetary conditions, trade balances and current
account balances.
Sharp deviations from these guidelines would result in
consultations between the countries on whether corrective
action should be required.
But the inclusion of currencies as one of the objectives
has Bonn and London worried, monetary sources say, because it
implies Washington is moving in the direction of target zones.
The sources said the Reagan administration unsuccessfully
sounded out its allies on a system of target zones to limit
currency fluctuations just before the February meeting.
The concept is a much more rigid one than the secret ranges
of the Paris Accord and would mark a sharp departure from the
relatively free currency markets of recent years.
|
test/15550 | test/15550 |@title bank:1 france:1 leave:1 intervention:1 rate:1 unchanged:1 |@word bank:1 france:1 say:1 leave:1 intervention:2 rate:3 unchanged:1 7:2 3:2 4:2 pct:3 inject:1 fund:1 market:3 first:1 category:1 paper:1 today:1 money:2 tender:1 dealer:1 earlier:1 express:1 mixed:1 view:1 possibility:1 quarter:1 point:1 cut:2 last:1 adjust:1 march:1 9:1 eight:1 set:1 january:1 | BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED
The Bank of France said it left its
intervention rate unchanged at 7-3/4 pct when it injected funds
in the market against first category paper in today's money
market intervention tender.
Money market dealers had earlier expressed mixed views on
the possibility of quarter point cut.
The rate was last adjusted on March 9, when it was cut to
7-3/4 pct from the eight pct rate set in January.
|
test/15551 | test/15551 |@title global:1 economic:1 slowdown:1 raise:1 new:1 debt:1 fear:1 |@word global:1 economy:5 expect:4 weaken:1 year:8 add:3 new:4 worry:2 already:1 serious:1 poverty:1 outlook:3 economic:8 analyst:2 say:5 finance:1 minister:1 central:1 banker:1 attend:1 week:1 semi:1 annual:2 meeting:1 international:1 monetary:1 fund:2 world:3 bank:1 figure:2 release:1 imf:7 additional:1 concern:1 estimate:1 output:1 would:3 grow:3 2:5 7:1 pct:9 versus:1 9:1 last:2 3:5 1:1 1985:1 industrial:3 country:8 gross:2 national:1 product:3 measure:2 good:1 service:1 decline:2 compare:1 4:1 1986:1 develop:2 domestic:1 another:1 growth:3 fall:1 0:1 5:1 consider:1 major:1 disappointment:1 poor:2 hope:1 vitality:1 bring:1 sharp:1 oil:1 price:1 assist:1 recovery:1 help:1 cope:1 mound:1 debt:2 official:2 discuss:1 believe:1 move:1 rate:2 three:2 end:1 decade:1 time:3 ability:1 keep:1 crisis:1 turn:1 rout:1 rest:1 sustained:1 since:1 debtor:2 must:1 look:1 wealthy:1 state:2 market:1 well:1 financial:1 assistance:1 weakness:1 developed:1 nation:1 pose:1 fundamental:1 include:2 avenue:1 open:1 earn:1 foreign:1 exchange:2 key:1 one:1 export:2 u:2 fifth:1 expansion:1 serve:1 mainstay:1 see:1 rather:1 feeble:1 accord:1 reason:1 high:1 trade:2 deficit:2 united:1 states:1 pressure:1 japan:1 west:1 germany:1 ignite:1 little:1 apparent:1 success:1 study:1 also:1 examine:1 course:1 dollar:1 curious:1 lack:1 impact:2 reagan:1 administration:1 begin:1 show:1 although:1 much:1 slow:1 observe:1 recognize:1 adjustment:2 take:2 work:1 payment:1 flow:1 probably:1 least:1 get:1 resonably:1 complete:1 effect:1 report:1 however:1 may:1 even:1 occasion:1 reuter:1 | GLOBAL ECONOMIC SLOWDOWN RAISES NEW DEBT FEARS
The global economy is expected to
weaken this year, adding new worries to an already serious
poverty outlook, economic analysts said.
For finance ministers and central bankers attending this
week's semi-annual meetings of the International Monetary Fund
and World Bank, the new figures released by the IMF add an
additional concern.
The Fund estimated world output would only grow by 2.7 pct
this year, versus 2.9 pct last year, and 3.1 pct in 1985.
In the industrial countries, Gross National Product, a
measure of all goods and services, was expected to decline to
2.3 pct this year, compared with 2.4 pct in 1986, the IMF said.
For the developing countries, the Gross Domestic Product,
another measure of economic growth, was expected to fall to 3.0
pct from 3.5 pct last year.
The new figures are considered a major disappointment to
the poorest countries. They had hoped that new vitality in the
industrial countries brought on by a sharp decline in oil
prices would assist their economic recovery and help them cope
with growing mounds of debt.
IMF officials, discussing their outlook, said they believed
the industrial country economies would move up to an annual
growth rate of three pct by the end of the decade.
Economic analysts and the IMF have been saying for some
time that the ability to keep the debt crisis from turning into
an economic rout rests on sustained economic growth.
Since the debtor countries must look to the wealthier
states for markets for their products as well as financial
assistance, economic weakness in the developed nations'
economies poses fundamental worries.
Debtor countries, including the very poorest states, have
only a few avenues open to them for earning foreign exchange,
including the key one of exports.
The U.S. economy, which is in its fifth year of expansion,
has served as a mainstay for developing country exports, but it
too is seen as being rather feeble this year, growing by only
2.3 pct, according to the IMF.
For this reason and because of a high trade deficit, the
United States has been pressuring Japan and West Germany to
ignite their economies but with little apparent success.
The IMF study also examines the course of the dollar and
the curious lack of impact it has had on the U.S. trade
deficit.
Reagan administration officials have been saying that the
impact is now beginning to show up, although it has been much
slower than expected.
The IMF observed in its World Economic Outlook that 'it has
to be recognized that exchange rate adjustments take time to
work through to payments flows -- probably at least three years
to get a resonably complete effect.'
The report added, however, 'the adjustments may take even
more time on this occasion.'
REUTER^M
|
test/15552 | test/15552 |@title spanish:1 employer:1 worry:1 high:1 interest:1 rate:1 |@word head:1 spain:5 employers:1 federation:1 jose:1 maria:1 cuevas:5 say:7 employer:4 worry:1 government:6 monetary:2 policy:1 high:2 real:2 interest:2 rate:4 hamper:1 investment:1 tell:1 news:1 conference:1 wage:5 pact:2 sign:1 far:2 year:6 endanger:1 five:3 pct:10 inflation:3 target:4 perceive:1 need:1 control:1 keep:1 tight:1 rein:1 credit:1 unnecessary:1 attract:1 influx:1 speculative:1 foreign:2 capital:1 undercut:1 growth:1 closely:1 watch:1 measure:1 money:2 supply:1 liquid:1 asset:1 public:1 hand:1 grow:1 annualise:1 17:1 march:1 11:2 4:1 december:1 last:3 range:1 6:2 5:4 9:1 1987:3 combat:1 bank:1 raise:1 call:2 14:2 time:1 present:1 8:1 end:1 1986:1 heed:1 hold:1 increase:3 salary:1 review:1 award:1 new:1 average:1 first:2 quarter:1 agreement:1 cover:1 less:1 40:1 spanish:1 worker:1 rest:1 still:1 negotiation:1 current:1 wave:1 strike:1 mainly:1 affect:1 state:1 sector:1 try:1 impose:1 ceiling:1 also:1 worried:1 trend:1 trade:2 balance:1 deficit:1 two:1 month:1 total:1 233:1 billion:1 peseta:2 68:1 corresponding:1 period:1 however:1 favour:1 devaluation:1 correct:1 imbalance:1 | SPANISH EMPLOYERS WORRIED BY HIGH INTEREST RATES
The head of Spain's employers'
federation, Jose Maria Cuevas, said employers were worried
about the government's monetary policies because high real
interest rates were hampering investment.
He told a news conference wage pacts signed so far this
year were not endangering the government's five pct inflation
target. The government's perceived need to control inflation by
keeping a tight rein on credit was unnecessary, he said.
High real interest rates were attracting an influx of
speculative foreign capital which was undercutting the
government's target for monetary growth, Cuevas said.
Spain's most closely-watched measure of money supply,
liquid assets in public hands, grew at an annualised rate of 17
pct in March, against 11.4 pct in December last year and a
target range of 6.5 to 9.5 pct for 1987.
To combat this, the Bank of Spain has raised its call money
rate 14 times so far this year, to 14.5 pct at present from
11.8 at end-1986.
Cuevas said employers were heeding the government's call to
hold wage increases to its five pct inflation target this year,
with increases from salary reviews awarded last year and new
wage pacts averaging 5.6 pct in the first quarter of 1987.
These agreements covered less than 40 pct of Spanish
workers, Cuevas said, with the rest still in wage negotiations.
He said Spain's current wave of strikes mainly affected the
state sector, where the government is trying to impose its five
pct wage ceiling.
Cuevas said employers were also worried about the trend in
Spain's foreign trade balance. The trade deficit in the first
two months of 1987 totalled 233 billion pesetas, a 68 pct
increase over the corresponding period last year.
However, employers did not favour a devaluation of the
peseta to correct the imbalance.
|
test/15553 | test/15553 |@title showboat:1 sbo:1 declare:1 stock:1 split:1 |@word showboat:1 inc:1 say:1 board:1 declare:1 two:1 one:1 stock:1 split:1 payable:1 shareholder:1 record:1 may:1 15:1 | SHOWBOAT <SBO> DECLARES STOCK SPLIT
Showboat Inc said its board declared a
two-for-one stock split, payable to shareholders of record on
May 15.
|
test/15556 | test/15556 |@title lead:1 price:1 rise:1 finely:1 balanced:1 physical:1 |@word lead:5 price:5 rise:3 week:3 background:1 finely:1 balanced:1 physical:2 sector:1 trader:7 say:7 gain:1 possible:1 ussr:2 step:1 buying:4 labour:2 problem:3 develop:1 north:2 america:2 add:1 london:1 metal:3 exchange:1 lme:8 unusually:1 buoyant:1 time:1 year:6 seasonal:1 demand:8 normally:1 slacken:1 tend:1 drift:1 lower:1 buoyancy:1 generally:1 attribute:1 low:4 level:3 stock:9 steady:1 unspectacular:1 northern:1 hemisphere:1 find:2 supply:6 curtail:1 new:2 begin:1 feel:1 market:3 peak:1 winter:2 tail:1 usually:1 build:1 fast:1 availability:1 increase:1 result:1 number:1 different:1 factor:1 around:3 globe:1 delay:1 shipment:2 peru:1 mediterranean:1 country:1 production:3 transport:2 lack:1 spanish:1 export:1 since:3 closure:1 last:1 cia:1 la:1 cruz:1 smelter:7 linare:1 output:1 morocco:1 greece:1 mean:1 additional:1 direct:2 merchant:5 turn:1 draw:1 addition:1 break:1 hill:1 associate:1 smelters:1 port:1 pirie:1 south:1 australia:1 halt:1 five:1 maintenance:1 although:1 company:2 would:1 meet:1 commitment:1 put:3 pressure:1 u:6 doe:2 run:2 keep:1 140:1 000:3 tonne:4 per:1 boss:1 montana:1 close:2 cut:1 producer:1 contribute:1 balance:1 within:1 many:1 depress:1 surplus:1 regular:1 supplier:1 world:1 mexican:1 sometimes:1 swell:1 normal:1 ready:1 buyer:1 side:1 battery:2 manufacture:1 hold:1 quite:1 well:1 sheet:1 report:1 k:3 soviet:1 buy:2 notably:1 absent:1 europe:1 first:1 two:1 month:5 resume:1 large:1 order:1 fill:1 march:1 fuel:1 see:1 cash:2 move:1 320:2 stg:4 establish:1 premium:2 10:1 three:3 delivery:2 specific:1 towards:1 gothenburg:2 trieste:1 warehouses:1 material:1 often:1 target:1 ship:1 popular:2 continental:1 warehouse:2 antwerp:1 rotterdam:1 little:1 3:1 believe:1 strong:1 hand:1 total:1 22:1 125:1 june:1 1980:1 half:1 together:1 even:1 drop:1 6:1 start:1 partly:1 due:1 secondary:1 ingot:1 supplement:1 feed:1 affect:1 environmental:1 control:1 restriction:1 used:1 negotiation:1 play:1 important:1 part:1 determine:1 direction:1 contract:2 expire:1 end:1 april:1 cominco:1 trail:1 kimberley:1 b:1 c:1 mine:2 herculaneum:1 mo:1 noranda:1 brunswick:1 also:1 expiry:1 july:1 may:1 cause:1 nervousness:1 view:1 strike:1 zinc:1 copper:1 worker:1 recent:1 already:1 attract:1 speculative:1 could:2 330:1 current:1 firmness:1 nearby:1 tightness:1 widen:1 20:1 four:1 quote:1 313:1 midsession:1 | LEAD PRICES RISE ON FINELY BALANCED PHYSICALS
Lead prices have risen this week against
a background of a finely balanced physical sector, traders
said.
Further gains are possible if the USSR steps up its buying
or if labour problems develop in North America, they added.
London Metal Exchange (LME) prices are unusually buoyant at
a time of year when seasonal demand is normally slackening and
prices tending to drift lower.
This buoyancy is generally attributed by traders to the low
level of LME stocks and steady, if unspectacular, physical
demand in the Northern Hemisphere finding supplies curtailed.
The supply problems are not new but are beginning to be
felt by a market in which, as peak winter demand tails off,
stocks usually build fast and availability increases, traders
said.
The lower supply levels result from a number of different
factors around the globe.
Delayed shipments from Peru to Mediterranean countries
because of production and transport problems, lack of Spanish
exports since the closure last year of Cia La Cruz's smelter at
Linares and lower output in Morocco and Greece have all meant
additional demand being directed to merchants who in turn have
been drawing on LME stocks.
In addition Broken Hill Associated Smelters' Port Pirie,
South Australia, smelter is halting production for five weeks
for maintenance. Although the company said it would meet
commitments, this will put further pressure on stocks.
And the U.S. Company Doe Run has kept its 140,000 tonnes
per year Boss, Montana smelter closed. This cut producer stocks
and contributed to a closer supply/demand balance within the
U.S. Market, for many years depressed by surplus production and
a regular supplier to the world market.
Mexican supplies, which have sometimes swelled LME stocks,
have been normal but are finding ready buyers, traders said.
On the demand side, winter battery manufacture has held up
quite well and some U.S. Buying of lead sheet has been reported
in the U.K. Soviet lead buying, notably absent in Europe in the
first two months of the year, was resumed when a large buying
order was filled by merchants in March.
Merchant demand has fuelled the rise in LME lead prices
this week and has seen cash metal move above 320 stg and
establish a premium of around 10 stg over three months
delivery. Specific demand has been directed towards metal in
Gothenburg and Trieste warehouses. Gothenburg material is often
a target for merchants shipping to the USSR, traders said.
On stocks, the popular LME Continental warehouses, Antwerp
and Rotterdam, have little more than 3,000 tonnes of lead each,
and this is believed to be in strong hands.
Out of a total 22,125 tonnes in LME stocks, the lowest
level since June 1980, just over half is in U.K. Warehouses
which are not popular with merchants putting together
shipments.
But even U.K. Stocks have dropped around 6,000 tonnes since
the start of the year. Traders said this is partly due to
secondary smelters buying ingots to supplement feed supplies
affected by environmental controls, which put restrictions on
the transport of used batteries.
Labour negotiations in North America will play an important
part in determining the direction of prices, with contracts
expiring end-April at Cominco's Trail and Kimberley, B.C.,
Mine/smelter and at Doe Run's Herculaneum, Mo, smelter.
Noranda's New Brunswick mine/smelter also has a contract
expiry in July which may cause some nervousness in view of
strikes by its zinc and copper workers over recent months.
Traders said LME three months delivery, already attracting
speculative buying, could rise to 320/330 stg on current
firmness, while nearby tightness could widen the cash premium
to 20 from four. Three months was quoted at 313 stg at
midsession.
|
test/15558 | test/15558 |@title rexham:1 corp:1 rxh:1 1st:1 qtr:1 net:1 |@word shr:1 70:1 ct:2 vs:3 42:1 net:2 2:1 918:1 000:3 1:1 746:1 sale:1 68:1 3:1 mln:2 53:1 5:1 note:1 1987:2 include:2 pretax:1 gain:1 400:1 dlrs:1 change:1 pension:1 accounting:1 result:1 production:1 graphics:1 corp:1 system:2 technology:2 weapon:1 test:1 division:1 new:1 inc:1 acquire:1 december:1 30:1 1986:1 | REXHAM CORP <RXH> 1ST QTR NET
Shr 70 cts vs 42 cts
Net 2,918,000 vs 1,746,000
Sales 68.3 mln vs 53.5 mln
NOTE: 1987 net includes pretax gain 400,000 dlrs from
change in pension accounting.
1987 results include Production Graphics Corp and Systems
Technology and Weapons System Test Divisions of NEw Technology
Inc, acquired December 30, 1986.
|
test/15559 | test/15559 |@title first:1 eastern:1 corp:1 febc:1 1st:1 qtr:1 net:1 |@word shr:1 50:1 ct:2 vs:2 47:1 net:1 3:2 445:1 000:2 193:1 note:1 share:1 adjust:1 two:1 one:1 stock:1 split:1 january:1 1987:1 | FIRST EASTERN CORP <FEBC> 1ST QTR NET
Shr 50 cts vs 47 cts
Net 3,445,000 vs 3,193,000
NOTE: Share adjusted for two-for-one stock split in January
1987.
|
test/15560 | test/15560 |@title fhlbb:1 change:1 short:1 term:1 discount:1 note:1 rate:1 |@word federal:1 home:1 loan:1 bank:1 board:1 adjust:1 rate:3 short:1 term:1 discount:1 note:1 follow:1 maturity:2 new:1 old:1 30:2 174:1 day:10 5:10 00:6 pct:10 87:1 175:1 190:1 85:2 82:1 88:1 103:1 191:1 270:1 104:1 179:1 271:1 288:1 92:1 180:1 205:1 289:1 360:2 206:1 | FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES
The Federal Home Loan Bank Board
adjusted the rates on its short-term discount notes as follows:
MATURITY NEW RATE OLD RATE MATURITY
30-174 days 5.00 pct 5.00 pct 30-87 days
175-190 days 5.85 pct 5.82 pct 88-103 days
191-270 days 5.00 pct 5.00 pct 104-179 days
271-288 days 5.92 pct 5.85 pct 180-205 days
289-360 days 5.00 pct 5.00 pct 206-360 days
|
test/15561 | test/15561 |@title anchor:1 financial:1 afcx:1 make:1 acquisition:1 |@word anchor:2 financial:1 corp:1 say:1 agree:1 acquire:1 waccamaw:3 state:1 bank:1 surfside:1 beach:1 c:1 exchange:1 1:1 435:1 share:2 subject:1 regulatory:1 shareholder:1 approval:1 asset:1 22:1 8:1 mln:1 dlrs:1 march:1 31:1 | ANCHOR FINANCIAL <AFCX> TO MAKE ACQUISITION
Anchor Financial Corp said it
has agreed to acquire Waccamaw State Bank of Surfside Beach,
S.C., in an exchange of 1.435 Anchor shares for each Waccamaw
share, subject to regulatory and shareholder approvals.
Waccamaw had assets of 22.8 mln dlrs as of March 31.
|
test/15562 | test/15562 |@title stoltenberg:1 surprise:1 dollar:1 reaction:1 |@word west:1 german:1 finance:1 minister:1 gerhard:1 stoltenberg:1 say:2 surprise:1 overnight:1 decline:2 dollar:2 foreign:1 exchange:1 market:1 speak:1 briefly:1 reporter:1 enter:1 meeting:1 international:1 monetary:1 fund:1 minor:1 movement:1 really:1 affect:1 initial:1 reaction:1 statement:1 group:1 seven:1 industrial:1 country:1 reaffirm:1 paris:1 agreement:1 february:1 maintain:1 currency:1 around:1 current:1 level:1 | STOLTENBERG NOT SURPRISED BY DOLLAR REACTION
West German Finance Minister Gerhard
Stoltenberg said he was not surprised by the overnight decline
of the dollar in foreign exchange markets.
Speaking briefly with reporters before entering a meeting
of the International Monetary Fund he said, 'These minor
movements don't really affect us.'
The dollar declined in the initial reaction to a statement
by the Group of Seven industrial countries reaffirming their
Paris agreement in February to maintain their currencies around
current levels.
|
test/15563 | test/15563 |@title asarco:1 u:1 lead:1 price:1 0:1 50:2 ct:2 26:1 |@word asarco:1 inc:1 say:1 increase:1 base:1 spot:1 sale:1 price:1 refined:1 lead:1 one:1 half:1 cent:2 26:1 50:1 lb:1 fob:1 deliver:1 carload:1 lot:1 effective:1 immediately:1 | ASARCO UPS U.S. LEAD PRICE 0.50 CT TO 26.50 CTS
Asarco Inc said it is increasing its
base spot sales price for refined lead by one-half cent to
26.50 cents a lb, FOB, delivered in carload lots, effective
immediately.
|
test/15565 | test/15565 |@title e:2 f:2 hutton:1 efh:1 unit:1 purolator:1 offer:1 expire:1 |@word hutton:7 lbo:2 inc:3 say:4 tender:5 offer:4 wholly:1 unit:3 pc:6 acquisition:5 purolator:13 courier:3 corp:1 pcc:1 expire:1 2400:2 edt:2 yesterday:2 without:1 purchase:3 common:4 stock:4 add:1 also:1 terminate:2 merger:1 agreement:2 condition:1 upon:1 least:1 5:1 116:1 892:1 share:7 two:1 third:1 outstanding:3 minimum:1 number:1 enter:1 definitive:1 part:1 e:2 f:2 officer:1 u:2 division:1 6:1 332:1 471:1 35:1 dlrs:2 follow:1 move:1 plan:1 merge:1 subsidiary:1 convert:1 aggregate:1 46:1 mln:1 principal:1 amount:1 12:1 pct:3 guarantee:1 debenture:1 due:1 2002:1 warrant:1 15:1 comprise:1 operations:1 181:1 000:1 2:1 4:1 validly:1 withdraw:1 instruct:1 depository:1 return:1 promptly:1 deposit:1 behalf:1 shareholder:1 | E.F. HUTTON <EFH> UNIT'S PUROLATOR OFFER EXPIRES
E.F. Hutton LBO Inc said the tender
offer by its wholly owned unit, PC Acquisition Inc, for
Purolator Courier Corp <PCC> expired at 2400 EDT yesterday
without the purchase of any Purolator common stock.
Hutton added that PC Acquisition also terminated its merger
agreement with Purolator.
Hutton said the offer, which had been conditioned upon the
tender of at least 5,116,892 Purolator shares, or about
two-thirds of the outstanding shares, was terminated because
the minimum number of shares was not tendered.
Purolator had entered into a definitive agreement with PC
Acquisition, part-owned by E.F. Hutton LBO Inc, a unit of E.F.
Hutton, and some officers of Purolator's U.S. courier division,
in which PC offered to purchase 6,332,471 Purolator common
stock shares for 35 dlrs a share.
Following that move, PC Acquisition planned to merge a
subsidiary into Purolator, converting all outstanding Purolator
common it did not own into an aggregate 46 mln dlrs principal
amount of 12 pct guaranteed debentures due 2002 and warrants to
purchase 15 pct of a Purolator unit comprised of Purolator's
U.S courier operations.
Hutton said as of 2400 EDT yesterday about 181,000 shares
of Purolator common stock, or about 2.4 pct of the outstanding
shares, had been validly tendered and not withdrawn.
PC Acquisition has instructed its depository for the offer
to return promptly the Purolator stock deposited by, or on
behalf of, tendering shareholders, Hutton said.
|
test/15566 | test/15566 |@title abbott:2 laboratorie:2 1st:2 qtr:2 net:2 shr:2 62:2 ct:4 vs:2 52:2 |@word | ABBOTT LABORATORIES 1ST QTR NET SHR 62 CTS VS 52 CTS
ABBOTT LABORATORIES 1ST QTR NET SHR 62 CTS VS 52 CTS
|
test/15567 | test/15567 |@title india:1 foodgrain:1 target:1 160:1 mln:1 tonne:1 1987:1 88:1 |@word india:2 national:1 foodgrain:4 target:6 fix:1 160:1 mln:11 tonne:9 1987:1 88:1 apr:1 mar:1 unchanged:1 1986:5 87:5 agriculture:1 ministry:1 say:5 annual:1 report:4 actual:1 output:3 estimate:3 151:2 due:1 failure:2 monsoon:2 rain:2 15:1 35:1 meterological:1 sub:1 division:1 country:1 give:1 various:1 crop:2 harvest:1 bracket:1 follow:1 rice:1 65:1 60:1 wheat:1 49:2 coarse:1 grain:2 include:2 sorghum:1 millet:1 32:1 29:2 pulse:1 14:1 13:1 despite:1 recent:1 year:4 possible:1 maintain:1 high:2 production:2 signify:1 grow:1 resilience:1 agricultural:1 sector:1 strategy:1 increase:2 irrigation:2 potential:1 along:1 great:1 use:2 yield:2 seed:1 varieite:1 improvement:1 fertiliser:2 efficiency:1 result:1 add:1 total:1 1985:1 86:1 1984:1 85:1 1983:1 84:1 respectively:1 150:1 5:2 145:1 record:1 152:1 4:1 produce:1 178:1 183:1 last:1 seventh:1 five:1 development:1 plan:2 end:1 march:1 31:1 1990:1 take:1 midpoint:1 180:1 around:1 gap:1 make:1 remain:1 three:1 annually:1 nine:1 achieve:1 good:1 weather:1 major:1 thrust:1 programme:1 therefore:1 well:1 water:1 management:1 simultaneously:1 effort:1 spread:1 improved:1 technology:1 timely:1 inputs:1 farm:1 material:1 like:1 adequate:1 quantity:1 vigrously:1 pursue:1 | INDIA FOODGRAIN TARGET 160 MLN TONNES IN 1987/88
India's national foodgrain target has
been fixed at 160 mln tonnes in 1987/88 (Apr-Mar), unchanged
from the 1986/87 target, the Agriculture Ministry said in its
annual report for 1986/87.
Actual output was estimated at 151 mln tonnes in 1986/87
due to failure of monsoon rains in 15 out of 35 meterological
sub-divisions of the country.
The report gave the targets for various crops with
estimated harvested crops in 1986/87 in brackets as following,
in mln tonnes - rice 65 (60), wheat 49 (49), coarse grains
including sorghum and millets 32 (29) and pulses 14 (13).
Despite failure of monsoon rains in recent years, it was
possible to maintain higher foodgrain production, signifying
growing resilience in agricultural sector, the report said.
The strategy for increasing irrigation potential along with
greater use of high yielding seed varieites and improvement in
fertiliser efficiency is yielding results, it said, adding
total foodgrain output in 1985/86, 1984/85 and 1983/84
respectively was 150.5 mln tonnes, 145.5 mln and a record 152.4
mln.
India has targeted to produce between 178 and 183 mln tonnes
of foodgrains by the last year of the seventh five-year
development plan ending March 31, 1990.
Taking the midpoint of 180 mln tonnes as the target and the
1986/87 estimated production of around 151 mln tonnes, the gap
of 29 mln tonnes has to be made up during the remaining three
years of the plan by increasing grain output annually by more
than nine mln tonnes. But the target can be achieved only with
good weather, the report said.
'The major thrust programme will, therefore, be better water
(irrigation) management. Simultaneously, efforts for spread of
improved technology including timely use of inputs (farm
materials like fertilisers) in adequate quantities have to be
vigrously pursued,' it said.
|
test/15568 | test/15568 |@title certificate:1 cotton:1 stock:1 |@word certificate:1 cotton:3 stock:1 deliverable:1 new:1 york:1 exchange:1 2:1 future:1 contract:1 april:1 8:1 report:1 34:1 661:1 bale:4 421:1 previous:1 day:1 figure:1 await:2 review:1 1:1 218:1 decertification:1 | CERTIFICATED COTTON STOCKS
Certificated cotton stocks deliverable
on the New York Cotton Exchange No 2 cotton futures contract as
of April 8 were reported at 34,661 bales, down 421 bales from
the previous day's figure. There were no bales awaiting review
and 1,218 bales awaiting decertification.
|
test/15569 | test/15569 |@title reichhold:1 chemical:1 rci:1 set:1 anti:1 takeover:1 plan:1 |@word reichhold:5 chemical:1 inc:1 say:7 board:1 adopt:1 warrant:2 dividend:4 plan:3 one:4 prefer:2 stock:3 purchase:1 right:5 distribute:1 common:2 share:4 outstanding:1 company:5 design:1 protect:1 shareholder:3 unsolicted:1 coercive:1 attempt:2 aquire:1 control:1 without:2 make:1 adequate:1 offer:2 adoption:1 response:1 specific:1 takeover:1 entitle:1 buy:2 hundreth:1 newly:1 create:1 series:1 initial:1 exercise:1 price:1 120:1 dlrs:1 voting:3 approximately:1 equal:1 exercisable:1 prior:1 consent:1 person:1 group:1 acquire:2 20:4 pct:5 power:2 announce:1 tender:1 would:1 result:1 ownership:1 entitled:1 redeem:1 five:1 ct:1 apiece:1 position:1 exist:1 additional:1 two:1 connection:1 certain:1 transaction:1 afterward:1 tax:1 free:1 distribution:1 become:1 effective:1 may:1 1:1 1987:1 expire:1 10:1 year:1 later:1 detail:1 outline:1 letter:1 mail:1 stockholder:1 | REICHHOLD CHEMICAL <RCI> SETS ANTI-TAKEOVER PLAN
Reichhold Chemical Inc said its
board adopted a warrant dividend plan in which one preferred
stock purchase right will be distributed as a dividend on each
common share outstanding.
The company said its warrant dividend plan is designed to
protect its shareholders against unsolicted, coercive attempts
to aquire control without making an adequate offer for all
shares.
Reichhold said the adoption is not a response to any
specific takeover attempt.
Reichhold said each right will entitle shareholders to buy
one one-hundreth of a share of a newly created series of
preferred stock at an initial exercise price of 120 dlrs, with
dividend and voting rights approximately equal to those of one
share of the company's common stock.
The rights will be exercisable only if, without Reichhold's
prior consent, a person or group a acquires 20 pct or more of
the voting power or announces a tender offer which would result
in 20 pct ownership, the company said.
Reichhold said it is entitled to redeem the rights at five
cts apiece before a 20 pct position has been acquired, or
before an existing 20 pct shareholder buys an additional two
pct or more of the voting power of the company, or in
connection with certain transactions afterward.
The tax-free distribution will become effective May 1,
1987, and will expire 10 years later, the company said.
Details of the plan are outlined in a letter to be mailed
to stockholders.
|
test/15570 | test/15570 |@title abbott:1 laboratories:1 inc:1 abt:1 1st:1 qtr:1 net:1 |@word shr:1 62:1 ct:2 vs:3 52:1 net:1 142:1 0:3 mln:3 123:1 sale:1 1:1 00:1 billion:1 865:1 | ABBOTT LABORATORIES INC <ABT> 1ST QTR NET
Shr 62 cts vs 52 cts
Net 142.0 mln vs 123.0 mln
Sales 1.00 billion vs 865.0 mln
|