DJIA: 17,856.78  -278.94 (-1.54%) | NASDAQ: 4,927.37  -55.439 (-1.11%) | S&P 500: 2,071.26  -29.78 (-1.42%) Markets closed

  • Show Article Details

    Says Spanish lender's offer undervalues the company. LISBON-- Banco BPI SA's board shot down a 1.09 billion-euro takeover offer from its largest shareholder, Spain's Caixabank SA (CIXPF), saying it undervalues the company. Caixabank (CIXPF) offered in February to buy the 55.9% of Portuguese lender BPI that it doesn't already own for EUR1.329 a share in cash.

  • Show Article Details

    Business software maker SAP will cut about 2,250 jobs, or around 3 percent of its global workforce, as the company accelerates a push to sell its products via the Internet. Europe's largest software maker, which employs about 75,000 workers worldwide, said on Friday that it would help to find new positions for those involved in other growing parts of the company.

  • Show Article Details

    (Adds futures prices, company news) LONDON, March 6 (Reuters) - European equities headed for a steady open on Friday after recent sharp gains, with investors seen reluctant to place strong bets before a U.S. jobs report that could provide hints about the timing of a U.S. rate hike. A Reuters survey of economists forecast a 240,000 increase in non-farm payrolls after a 257,000 gain in January. That would mark the 12th straight month of job increases above 200,000, the longest such run since 1994. "If we see a pickup in wage growth as well, the bulls may get nervous that the Fed will start prepping markets for a summer rate hike at the March meeting," Jonathan Sudaria, dealer at London Capital Group, said in a note. In Europe, German industrial output rose more than expected in January, a further sign that Europe's largest economy had a strong start to 2015. At 0719 GMT, futures for the Euro STOXX 50 were flat, Germany's DAX futures rose 0.15 percent and France's CAC futures were down 0.07 percent. The FTSEurofirst 300 index of top European shares ended 0.8 percent higher at 1,569.48 points in the previous session. It headed for a fifth straight week of gains. COMPANY NEWS COMMERZBANK Commerzbank AG is nearing an agreement to pay U.S. authorities more than $1.4 billion to settle alleged violations of U.S. sanctions and a separate probe that stemmed from transactions linked to an Olympus Corp accounting scandal, according to two people close to the case. AREVA Standard & Poor's cut the credit rating of Areva two notches deeper into non-investment grade status after the French nuclear group posted a record loss and warned of deteriorating cash flows. VOLKSWAGEN The German carmaker will next week announce an investment worth around $1 billion in Mexico to expand its Puebla plant, a person familiar with the matter said on Thursday. PSA PEUGEOT CITROEN, GEMALTO The French carmaker will return to the CAC-40 index on March 23 as the digital security firm exits, stock market operator Euronext said. BANCO BPI, CAIXABANK The bank's board of directors recommended on Thursday that shareholders reject a takeover bid by Spain's Caixabank, saying an adequate bid price would be 2.26 euros per share, far above the bid price of 1.329 euros. BHP BILLITON An Australian senator called for an inquiry into suspected foreign bribery at top companies including miner BHP Billiton saying the country needs tighter enforcement against corruption. VINCI, EIFFAGE French toll road operators expect to end a long-running dispute with the government next week through an emerging compromise deal, a source close to the companies said. BANKIA Spanish lender Bankia is selling a package of loans secured against 49 hotels and hopes to raise 400 million euros with the deal, El Confidencial reported on Friday, citing sources familiar with the situation. DEUTSCHE TELEKOM The telecoms operator said it had appointed new executives at its Telekom Deutschland unit. Michael Hagspuhl is now head of private clients, and Hagen Rickmann as head of business clients. Separately, Telekom said BlackRock Financial exceeded the 5 percent threshold of voting rights on March 2, and on that day had to 5.06 percent. THOMAS COOK GROUP Chinese conglomerate Fosun International said it has bought a 5 percent stake in British travel group Thomas Cook Group, deepening its foray into Europe's tourism sector after buying French holiday maker Club Med last month. SCOR Japan's Sompo Japan Nipponkoa Insurance has agreed to purchase about 15 percent of the French reinsurer, Nikkei reported. The Paris-based company had no immediate comment. WENDEL, BUREAU VERITAS The French investment group said it had sold 10.9 percent of certification group Bureau Veritas in a placement that raised about 1 billion euros. E.ON, MAINOVA E.ON said on Friday the future of its Irsching gas-fired plant beyond March 2016 was in doubt due to an ongoing crisis in the power sector that has pushed many of the company's plants into loss. Irsching 4 is fully owned by E.ON while Irsching 5 is also part-owned by local utilities Mainova, N-Ergie and HSE. DEUTSCHE POST Deutsche Post's DHL Express unit will invest 85 million euros ($93.68 million) to expand its logistics centre in Singapore. The new logistics centre will be operational in the first quarter of 2016. SIEMENS German industrial group Siemens will house its German healthcare operations in a standalone unit in the form of a GmbH legal entity on May 1, two sources with knowledge of the matter said. UBS UBS France bullied a former worker who said she had refused to destroy documents that might have been of interest to tax evasion investigators, a Paris labour tribunal ruled on Thursday. U.S. COMPANIES REPORTING : Q4 2014 Staples, Inc. MACROECONOMIC DATA/EVENTS (GMT) : 0745 FR Trade 1000 EZ Revised GDP 1330 US Non-farm payrolls 1330 US International Trade 1530 US ECRI Weekly ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0613 GMT: LAST PCT CHG NET CHG S&P 500 2,101.04 0.12 % 2.51 NIKKEI 18971 1.17 % 219.16 MSCI ASIA EX-JP 485.12 0.34 % 1.66 EUR/USD 1.1019 -0.08 % -0.0009 USD/JPY 120.04 -0.07 % -0.0900 10-YR US TSY YLD 2.117 -- 0.01 10-YR BUND YLD 0.343 -- -0.01 SPOT GOLD $1,198.74 0.05 % $0.54 US CRUDE $50.95 0.37 % 0.19 > DOLLAR REVVED UP FOR JOBS DATA, NIKKEI HITS A HIGH > WALL ST CLOSES UP SLIGHTLY AHEAD OF JOBS REPORT > NIKKEI HITS FRESH 15-YR HIGH ON ECB; FAMILYMART FALLS ON MERGER TALKS > BOND PRICES MOSTLY FLAT AHEAD OF U.S. JOBS REPORT > U.S. JOBS DATA NEXT TEST FOR BULLISH DOLLAR, EURO STRUGGLES > GOLD HOVERS NEAR $1,200, SET FOR WEEKLY DIP ON ROBUST DOLLAR > COPPER EYES SMALL WEEKLY LOSS AS STRONGER DOLLAR DRAGS > BRENT CLIMBS ABOVE $61 ON MIDEAST SUPPLY CONCERNS (Reporting by Atul Prakash)

  • Show Article Details

    Galapagos Nv (GLPGF). * Galapagos Nv (GLPGF) : galapagos reports 2014 financial results. * FY group revenues eur108m, including eur18m from discontinued operations. * Group net profit eur33m resulting from divestment of service operations. * Year-end cash eur198m, including eur11m in restricted cash.

  • Show Article Details

    Japan's Nikkei share average rose to a fresh 15-year high on Friday as encouraging comments from the European Central Bank lifted sentiment, but FamilyMart Co fell on news that it was in merger talks with UNY Group Holdings Co. The Nikkei ended 1.2 percent higher at 18,971.00 points, its best closing level since April 2000.

  • Show Article Details

    AbbVie (ABBV) will pay $21 billion, with 58% in cash and the remainder in stock, to buy Pharmacyclics (PCYC), a biotech company worth $10 billion only a year ago. This latest deal brings U.S. pharma M&A activity so far this year to $54.2 billion, according to Dealogic. That is equal to more than one-quarter of total 2014 activity, itself the highest year for deal volume since 1995.

  • Show Article Details

    * FamilyMart falls, UNY rises on merger talk news * Nikkei may reach 19,400 at the end of the month - analyst * Nikkei heads for 4 straight week of gains By Ayai Tomisawa TOKYO, March 6 - Japan's Nikkei share average rose to a fresh 15-year high on Friday as encouraging comments from the European Central Bank lifted sentiment, but FamilyMart Co tumbled on news that it was in merger talks with U...

  • Show Article Details

    Japanese stocks skipped uphill early Friday morning, with the Nikkei Average improving by 1%, thanks in part to an accomodating forex market and a bit of deal news. With the dollar back above Yen120 ahead of the U.S. jobs report, the blue-chip exporters moved mostly higher as well, with Fujitsu Ltd. up 2%, TDK Corp. up 1.8%, and Honda Motor Co. up 1.3%. Retail stocks were in focus after the Nikkei and Wall Street Journal reported separately that convenience-store operator FamilyMart...

  • Show Article Details

     Wayfair (W)  stock closed down 3.88% to $27.78 on Thursday despite Canaccord's price target raise to $36 from $34, and with an unchanged "buy" rating. "Wayfair (W) saw improving efficiency from marketing efforts, with TV brand marketing and online ad spend leading to the acquisition of more valuable customers who are more likely to increase frequency and spend in the future," analysts said, adding tha...

  • Show Article Details

    By Anora Mahmudova and Barbara Kollmeyer, MarketWatch Weekly jobless claims jump to highest level since May NEW YORK-- After between small gains and losses, U.S. stocks managed to eke out modest gains on Thursday, as investors showcased their skittishness ahead of Friday's closely watched jobs report. In the spotlight today, was the announcement that the European Central Bank will kick off a trillion-dollar plan to purchase government bonds and other debt on Monday.

  • Show Article Details

    Canadian gold projects once shunned by miners in favor of more alluring opportunities overseas are regaining their sheen, as a weaker currency, new tax breaks and greater security of tenure are wooing miners to return home.

  • Show Article Details

    Canadian Natural Resources Ltd (CNQ), the country's No. 2 oil and gas producer, said on Thursday it expects to spin off its Western Canada royalty lands this year as it reported unexpectedly strong fourth-quarter results and boosted its dividend. The company still intends to sell the properties that it leases to other oil companies in 2015, though the timing was still not certain.

  • Show Article Details

     Macerich (MAC) shares are climbing, up 5.17% to $88.13, in trading on Thursday following reports that mall owner Simon Property Group (SPG) has made overtures to purchase the company, according to the Wall Street Journal.The Journal reported that Simon Property Group (SPG) approached Macerich (MAC) about a possible purchase in the past few weeks, continuing the interest in showed about acquiring the real estate inves...

  • Show Article Details

    Britain's Merlin Entertainments (MIINF), the operator of Madame Tussauds waxworks and Legoland, said Singapore sovereign wealth fund GIC Private Ltd nearly doubled its stake in the company to about 5.2 percent. Merlin said on Thursday that GIC raised its holding to about 52.6 million shares from about 27.6 million.

  • Show Article Details

    Mallinckrodt (MNK) said Thursday it would acquire private equity-owned Ikaria in a $2.3 billion deal that would expand its presence in the hospital neonatal intensive care unit. Hampton, N.J.-based Ikaria is focused on therapies and delivery systems for critically ill infants in hospital settings.