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EUROPEAN EQUITY OPENING HEADLINES INCLUDING: Nestle wants to acquire a 50% stake in Yoplait

Published: 03:11 28 Feb 2011 EST

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ASIA
 
Nikkei (+0.92%) ended higher, reversing early losses with help from futures-led buying by commodity trading advisers and month-end window dressing by foreign investors who picked up blue-chip cyclical shares. (RTRS)
 
US
 
Equities finished in positive territory, with a continued increase in risk appetite and better than expected Michigan Consumer Confidence reaching a three-year high. Technology and Industrial stocks were among the best performers with Oil & Gas Stocks dragging on the indices. Intel (+2.63%) and Bank of America (+1.36%) were among the most heavily traded stocks.  At the closing bell, DJIA 12130.45 (+0.51%), S&P 500 1319.90 (+1.06%), , NASDAQ 2346.29 (+1.43%).
 
UK
 
BP – Co. has launched a GBP 300mln legal action against the UK government over an alleged tax overpayment. (Sunday Telegraph)
 
IAG – Co’s CEO has confirmed the Co. is very interested in a potential acquisition of Virgin Atlantic or BMI. (Sunday Express)
 
Tesco  - The Co’s income CEO is examining the group’s property strategy in a move which may lead to a multi billion pound disposal programme. (FT)
 
Vedanta – Co’s founder Anil Agarwal has said he held a very positive meeting with India’s oil minister in regards to the Co. acquiring Cairn Energy’s Indian unit. (Times)
 
FRANCE
 
Renault/Daimler – Daimler and Renault have reached a new deal under which Renault will develop electric motors for the Smart and Twingo brands, while Daimler will supply batteries. (Stuttgarter Zeitung)
 
EADS – Co.’s Airbus is not likely to contest the US Air Force’s decision to award its air refuelling tanker contract to Boeing. (RTRS)
 
Carrefour – Co. may announce it is listing certain assest on Thursday March 3rd to throw attention away from what are set to be modest FY’10 numbers. (RTRS)
 
GERMANY
 
E.ON – CKI has outbid PPL for the UK electricity network assets of the Co. (Sunday Times)
 
Bayer – Co.’s Q4 net loss EUR 145mln vs. Exp. profit of EUR 160.57mln, and Q4 EBITDA ex-items EUR 1.69bln vs. Exp. EUR 1.65bln. Co. targets 4%-6% sales growth in 2011, and sees EBITDA ex-items towards EUR 7.5bln this year. Co. plans 2011 capital expenditures EUR 1.8bln, and confirms 2012 targets. Co. sees significant health reform impact in 2011. (RTRS)
 
Volkswagen – Co. will buy carmaker Wilhelm Karmann GmbH’s metal unit today from insolvency administrator Ottmar Hermann. (Handelsblatt)
 
Daimler/Renault – Daimler and Renault have reached a new deal under which Renault will develop electric motors for the Smart and Twingo brands, while Daimler will supply batteries. (Stuttgarter Zeitung)
 
OTHER GERMAN COMPANIES
 
TUI AG – Co.’s biggest investor, Russian billionaire Alexei Mordashov, reportedly told the co. that he plans to increase his 20.45% stake. (Sources)
 
SMI
 
Nestle -  Co. wants to acquire a 50% stake in Yoplait (Le Figaro)
 
PAN-EUROPEAN
 
Italian Banks – ECB’s Draghi has called for Italian banks to use profits to underpin capital. (RTRS)
 
Unicredit – Co.’s chairman said co. is in talks with everyone, including Intesa Sanpaolo’s Eurzizon, over the sale of its Pioneer asset-manager unit. (Sources)
 
Allied Irish Banks – Co. has selected Irish Life & Permanent as its preferred bidder in the auction of its fund management unit. (Irish Times)
 
AB Inbev – Co. will use money gained from the sale of companies and cost reductions for acquisitions, according to the CEO. (Les Echos)
 
BROKER MOVES
 
LLOYDS BANKING REMOVED FROM EUROPEAN KEY CALL LIST AT UBS
TELEFONICA CUT TO NEUTRAL FROM BUY AT NATIXIS

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