SINGAPORE
Fraser & Neave (FNN): Heineken said ThaiBev (THBEV) and TCC Assets are backing the Co's S$5.6B bid for Fraser's 40% interest in Asia Pacific Breweries (APB) and "has undertaken not to make a general offer for shares in F&N".
OLAM International (OLAM) announced the acquisition of a 100% equity interest in Northern Coffee Corp, Zambia 's largest coffee estate, for appx. $6.15M and the commitment of $40M as capital expenditure in the Co.
Frasers Centrepoint Trust (FCT) price estimate was raised to S$1.82 from S$1.62 and CapitaMall Trust (CT)'s to S$2.06 from S$1.84 at Daiwa Securities.
US markets were mixed on Tuesday. On the US economic data front, NAHB Housing Market Index for September increased to 40 points (38 expected). Also, the US deficit in the current account decreased to $117.4B in the second quarter (-125.0B expected) according to data released by the US Commerce Department. Looking at US stocks, Fedex Corp (FDX -3.06% to $86.55) reported for its 1Q ended August 31 EPS of $1.45 vs $1.41 expected and $1.46 a year ago. Sales rose 3% YoY to $10.79B. Separately, Advanced Micro Devices (AMD -9.73% to $3.62) announced that its CFO Thomas Seifert has resigned, and Devinder Kumar will serve as interim CFO. In other news, Goldman Sachs CFO David A. Viniar will be succeeded by Harvey M. Schwartz, one of three global co-heads from the sales and trading division.
In Europe , EU27 new car registrations dropped 8.9% in August after falling 7.8% in July. In Germany , ZEW survey on economic sentiment advanced to -18.2 in September vs -25.5 in August and -20 expected. ZEW survey for current situation decreased to 12.6 in September vs 18.2 in August and 18 expected. Regarding the stocks, Akzo Nobel slumped as the Co said that CEO Ton Büchner is taking a leave of absence as a result of a medical condition. His recovery is expected to enable him to return to work in the first half of October. Aviva lost ground after the stock was downgraded to "hold" from "buy" at Deutsche Bank. This morning, the Nikkei225 index opened higher.
CHINA - HK
China Securities Regulatory Commission may announce plans to lower and differentiate tax for dividends "soon", Economic Information Daily reported.
Hong Kong 's jobless rate was 3.2% in August vs 3.3% expected and unchanged MoM.
CNOOC (883): U.S. Representative Edward Markey, the ranking member of the U.S. House Natural Resources Committee expressed concerns on the Cnooc/Nexen deal and asked Interior Secretary Ken Salazar to prohibit the transfer of Nexen's drilling leases.
Industrial & Commercial Bank of China (1398): A Standard Bank spokesman said its Co plans to complete the sale of Argentine unit to ICBC within two months.
CSR (1766) plans to sell up to 15B of short-term debt and medium-term bonds.
China Communications Construction (1800) will start selling 12B yuan of bonds. The proceeds of the sale will be used to repay debt for up to 3B yuan, while the remaining amount will be used for general capital purposes.
Longfor Properties (960) raised HK$3.09B through the placement of appx. 260M shares at HK$11.88 each, in the lower range of its HK$11.88-HK$12.38 estimate.
China CNR (601299) to issue 2B yuan of 270-days bonds, at 4.19%.
United Co Rusal (486) said it "has boosted its production of aluminium powders by almost 30%".
Lenovo Group (992) to acquire U.S.-based software company Stoneware Inc. for an undisclosed sum.
Kerry Properties (683) was rated "hold" while New World Development (17) and Sino Land (83) were rated "buy" at BNP Paribas.
Google Trend HK - popular searches: China Coal Energy Co (1898), Jiangxi Copper (358), Luk Fook Holdings International Ltd (590), SPDR Gold Shares (2840), Zhaojin Mining Industry Co (1818)
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