(adds IRPC, Glow Energy, Banpu)
BANGKOK, May 9 (Reuters) - Thailand's benchmark stock index
<.SETI> was down 5.0 points, or 0.59 percent, at 845.17 points at
0853 GMT on Friday, pausing rises over the past four days, due to
profit taking in energy shares, dealers said.
Stocks on the move included:
- IRPC <IRPC.BK> fell 3.5 percent to 5.50 baht, having hit a
more than two-month low of 5.45 baht, after the petrochemical
refiner posted lower-than-expected quarterly earnings hit by
rising costs of sales and higher interest expenses.
IRPC reported a net profit of 1.63 billion baht ($51
million), down from 2.76 billion baht in the first quarter year
earlier and well below an average forecast of 2.2 billion baht by
four analysts polled by Reuters.
Broker Finansa Securities said in a research note it would
cut earnings target for 2008 after the first quarter earnings
accounted for just ten percent of its full year forecast.
"The outlook of petrochemical industry is weaker in a second
half due to new supply," the broker said.
0855 GMT
- Power producer Glow Energy <GLOW.BK> rose 2.9 percent to 35
baht ahead of its ex-dividend date on May 15. The company has
said it would pay an interim dividend of 1.054 baht per share for
its second half of 2007.
Broker Thanachart Securities rated the stock "buy" partly due
to the good dividend payment.
0856 GMT
- Banpu <BANP.BK> rose 1.77 percent to 460 baht, having hit a
more than two month high of 464 baht, on expectations the biggest
coal miner would report a big increase in first quarter earnings
next week on high coal prices and strong subsidiary earnings.
Broker KGI Securities said in a research note it rated the
stock "outperform", with a target price of 525 baht due to the
bright outlook of coal prices.
0859 GMT
- PTT Aromatics and Refinery <PTTAR.BK> fell 3.5 percent to
34.25 baht, having hit an all time low of 34.0 baht, after the
merged entity of Rayong Refinery and Aromatics posted a below
forecast quarterly earnings, prompting earnings downgrades by
analysts.
PTTAR said its first quarter net profit was 1.49 billion
baht, below an average 1.9 billion baht net profit forecast by
five analysts polled by Reuters. The company attributed the weak
earnings to a sharp decline in margins from aromatics business.
"There is downside risk to our projection and recommendation.
The first quarter core profit was much poorer than expected and
accounted for only 2 percent of our full year forecast," broker
Kasikorn Securities said in a research note.
Globlex Securities said it cut its full-year net profit
forecast for PTTAR by 15 percent after the first quarter results
missed its expectation.
0900 GMT
- For the Thai press digest click on [ID:nBKK128028]
- For Thailand's IPO diary click on <TH/IPOMENU>
- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=31.91 Baht)
(Reporting by Viparat Jantraprap; Editing by Kim Coghill)
((viparat.jantraprapaweth@thomsonreuters.com; +66 2 648 9733;
Reuters Messaging:
viparat.jantraprapaweth.thomsonreuters.com@reuters.net))
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To export the data to Excel, click on the Excel link at the
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* ASIA-PACIFIC STOCK MARKETS:
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* OTHER MARKETS:
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U.S. earnings diary [RESF/US] European diary [WEU/EQTY]
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Eurostocks Week Ahead [.EU/O]
* TOP NEWS:
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U.S. company news [TOP/EQU] European company news [TOP/EQE]
Forex news [TOP/FRX] Global Economy news [TOP/MACRO]
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* LIVE PRICES & DATA:
World Stocks <0#.INDEX> Currency rates <EFX=> <NFX=>
Dow Jones/NASDAQ <.DJI> <.IXIC> Nikkei <.N225>
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Thai baht <THB=> LME price overview <RING=>
Keywords: MARKETS THAILAND/STOCKS
PARIS, May 9 (Reuters) - Below are leading stories from the French press and company-related news which could have an impact on the French market or individual stocks.
MAROC TELECOM <IAM.PA>
Maroc Telecom on Friday posted a 9.1 percent rise in first-quarter operating profit, helped by solid sales growth and cost control, and confirmed its full-year outlook.
For story click on [ID:nL09674420]
VALLOUREC <VLLP.PA>
Shares in French steel tubes maker Vallourec were up 0.7 percent in early afternoon trade as traders cited speculation that French financier Vincent Bollore was building up a stake in Vallourec.
For story click on [ID:nPAC009527]
TOTAL <TOTF.PA>
The local unit of France's energy giant Total has restarted its 125,000 barrels per day Amenam oilfield offshore Nigeria after routine maintenance, a company spokesman said on Thursday.
For story click on [ID:nL08894653] {C}ENDS
FTSEurofirst 300 index..............................<.FTEU3> DJ STOXX index......................................<.STOXX> Top 10 STOXX sectors...........................<.PGL.STOXXS> Top 10 EUROSTOXX sectors......................<.PGL.STOXXES> Top 10 Eurofirst 300 sectors...................<.PL.FTEU3S> Top 25 European pct gainers.......................<.PG.PEUR> Top 25 European pct losers........................<.PL.PEUR>
Main stock markets: Dow Jones...............<.DJI> Wall Street report .....[.N] Nikkei 225.............<.N225> Tokyo report............[.T] FTSE 100...............<.FTSE> London report...........[.L] Xetra DAX.............<.GDAXI> Frankfurt market stories[.F] CAC-40.................<.FCHI> Paris market stories...[.PA]
World Indices......................................<0#.INDEX> Reuters survey of world bourse outlook..........<EQUITYPOLL1> Western European IPO diary...........................<WEUIPO> European Asset Allocation.........................[EUR/ASSET]
Reuters News at a Glance: Equities...............[TOP/EQE]
Main currency report:...............................[FRX/] ((Paris newsroom, tel. +33149495452, Email: paris.equities@reuters.com))
FRANKFURT, May 9 (Reuters) - The DAX top-30 index <.GDAXI> looked set to open 0.7 percent lower on Friday, according to pre-market data from brokers at 0620 GMT.
The following are some of the factors that may move German stocks on Friday (share price indications at 0620 GMT):
ALLIANZ <ALVG.DE>
Indicated 1.0 percent lower
Allianz reported group Q1 operating profit of 1.86 billion euros, in line with preliminary figures announced on April 29. Its Dresdner Bank unit reported a bigger than expected Q1 EBIT loss of 453 million euros after writing 845 million euros off the value of structured finance products. Further writedowns cannot be excluded, Allianz said. [ID:nWEB4529] [ID:nL09936769] [ID:nL06439591]
Related news [ALVG.DE-E]
LINDE <LING.DE>
Indicated 0.4 percent lower
Linde reported a lower than expected Q1 operating profit of 602 million euros. It reiterated its forecast of higher 2008 sales and a disproportionate earnings rise. [ID:nWEB4531] [ID:nL0974873] [ID:nLA452062] [ID:nL05523775]
Separately, the CFO of Linde rival Praxair Inc <PX.N>, the largest industrial gases supplier in the Americas, said the company is actively looking to expand its integrated business model into the United Arab Emirates and that Praxair, which posted double-digit earnings and revenue growth in the first quarter, expects this trend to continue. [ID:nN08402025]
Related news [LING.DE-E]
CONTINENTAL AG <CONG.DE>
Indicated 0.6 percent lower
Continental will pass on higher commodity prices to customers to mitigate the impact of runaway raw material costs, CEO Manfred Wennemer said. He sees the global auto industry growing 2 to 3 percent in 2008 and said that Continental, in the hunt to supply advanced battery packs for the upcoming all-electric Chevrolet Volt, has a "good chance" of winning that high-profile contract from General Motors. [ID:nN08196583] [ID:nN08424284]
Related news [CONG.DE-E]
AMB GENERALI <AMBG.DE>
Indicated 0.5 percent lower
AMB reported a lower than expected Q1 net profit of 64 million euros. [ID:nLA94786] [ID:nL02832605]
Related news [AMBG.DE-E]
FREENET <FNTG.DE>
Indicated 2.5 percent lower
Freenet reported a lower than expected Q1 pretax profit of 24.5 million euros. [ID:nWEB4557] [ID:nL06415386]
Related news [FNTG.DE-E]
CONERGY <CGYG.DE>
Indicated 3.5 percent lower
Conergy reported a smaller than expected Q1 EBIT loss of 27 million euros. [ID:nWEB4554] [ID:nL06226425]
Related news [CGYG.DE-E]
GFK <GFKG.DE>
Indicated 0.7 percent lower
Advertising group WPP <WPP.L> remains interested in market research firm Taylor Nelson Sofres <TNS.L> even after a possible merger of TNS with GfK, WPP's CEO told German newspaper Frankfurter Allgemeine Zeitung. [ID:nL08807576]
Related news [GFKG.DE-E]
DRILLISCH <DRIG.DE>
Indicated 2.4 percent higher
Drillisch reported Q1 EBITDA of 9.5 million euros, above Reuters Estimates market consensus. [ID:nWEB4541] [ID:nEQqralywg]
Related news [DRIG.DE-E]
EX-DIVIDEND
Adidas <ADSG.DE>, pay-out 0.5 eur/shr
BMW <BMWG.DE>, pay-out 1.06 eur/shr
Postbank <DPBGn.DE>, pay-out 1.25 eur/shr
HeidelbergCement <HEIG.DE>, pay-out 1.3 eur/shr
Hochtief <HOTG.DE>, pay-out 1.3 eur/shr
Hugo Boss <BOSG_p.DE>, pay-out 6.46 eur/shr
Wacker Chemie <WCHG.DE>, pay-out 3.0 eur/shr
ANNUAL GENERAL MEETINGS
Draegerwerk <DRWG_p.DE>, proposed dividend 0.55 eur/shr
Comdirect <CDBG.DE>, proposed dividend 0.41 eur/shr
OVERSEAS STOCK MARKETS
Dow Jones <.DJI> +0.4 pct, S&P 500 <.SPX> +0.4 pct, Nasdaq <.IXIC> +0.5 pct. [ID:nL09574780]
Japan's Nikkei <.N225> -2.1 pct. [ID:nTKF003145]
GERMAN ECONOMIC DATA
Wholesale prices +0.6 pct mth/mth, +6.9 pct yr/yr in April, moe than expected. [ID:nBAE001202]
<ECONDE> <G7TODAY>
BANKING INDUSTRY WAGE TALKS
The union representing employees at German banks demands wage increases of 8 percent.
European factors to watch [WATCH/EU]
Diaries [DE/DIA] [WEU/EQUITY]
Reuters TOP NEWS [ID:nTOPNEWS]
(Reporting by Peter Dinkloh and Peter Starck) ((peter.starck@reuters.com; +49 69 7565 1217; Reuters Messaging: peter.starck.reuters.com@reuters.net))
MADRID, May 9 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Friday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:
SACYR VALLEHERMOSO <SVO.MC>
The construction company said shortly before market close on Thursday it would propose issuing one new share for every 14 held in a free capital increase at its next shareholders meeting.
For a story, click on [ID:nMDT005172]
SANTANDER <SAN.MC>
U.S. savings bank Sovereign Bancorp Inc <SOV.N> has not held talks with Santander about increasing or reducing the Spanish bank's 24.99 percent stake executives from both companies said late Thursday.
For more, click on [ID:nN08378313]
Sovereign plans to raise just over $1 billion in an equity offering to help shore up capital but has yet to determine Santander's role in the offering, a source close to the transaction told Reuters.
For more, click on [ID:nN08401899]
ACCIONA <ANA.MC>
The construction company will invest 500 million euros ($767 million) in building two 50 megawatt solar power plants in the south of Spain, Cinco Dias reported on Friday.
GAS NATURAL <GAS.MC>
The energy company posted first-quarter net profit of 335.8 million euros and EBITDA of 725.9 million, slightly higher than analysts' forecasts.
For a story, double-click on [ID:nMDT005173]
PRISA <PRS.MC>, SOGECABLE <SGCE.MC>
The deadline expires for shareholders' acceptance of Prisa's bid for Sogecable later on Friday. Telefonica <TEF.MC> is due to say whether it plans to hold on to its 16.8 percent stake or sell to Prisa.
For today's European market outlook double click on [.EU].
For real-time moves on the Spanish blue-chip index IBEX please double click on <.IBEX>
For IBEX constituent stocks highlight .IBEX in the command box and press the F3 button on your keyboard
For latest news on Spanish stock moves double click [HOT-ES]
For Spanish language market report double click on [.MES]
For latest Eurostocks report please double click on [.EU]
((madrid.newsroom@reuters.com; +34 91 585 2160)) ($1=.6523 Euro)
Keywords: MARKETS SPAIN FACTORS/
MADRID, May 9 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Friday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:
SACYR VALLEHERMOSO <SVO.MC>
The construction company said shortly before market close on Thursday it would propose issuing one new share for every 14 old shares in a free capital increase at its next annual shareholders meeting.
For a story, click on [ID:nMDT005172]
SANTANDER <SAN.MC>
U.S. savings bank Sovereign Bancorp Inc <SOV.N> has not held talks with Santander about increasing or reducing the Spanish bank's 24.99 percent stake executives from both companies said late Thursday. For more, click on [ID:nN08378313]
Separately, Sovereign plans to raise just over $1 billion in an equity offering to help shore up capital but has yet to determine Santander's role in the offering, a source close to the transaction told Reuters.
For more, click on [ID:nN08401899]
ACCIONA <ANA.MC>
The construction company will invest 500 million euros ($767 million) in building two 50 megawatt solar power plants in the south of Spain, Cinco Dias reported on Friday.
GAS NATURAL <GAS.MC>
The energy company's first quarter results are expected to show a 9.5 percent rise in net profit.
For a poll, click on [ID:nL06352404]
PRISA <PRS.MC>, SOGECABLE <SGCE.MC>
The deadline expires for shareholders' acceptance of Prisa's bid for Sogecable.
For today's European market outlook double click on [.EU].
For real-time moves on the Spanish blue-chip index IBEX please double click on <.IBEX>
For IBEX constituent stocks highlight .IBEX in the command box and press the F3 button on your keyboard
For latest news on Spanish stock moves double click [HOT-ES]
For Spanish language market report double click on [.MES]
For latest Eurostocks report please double click on [.EU]
((madrid.newsroom@reuters.com; +34 91 585 2160)) ($1=.6523 Euro)
Keywords: MARKETS SPAIN FACTORS/
Next: German stocks - Factors to watch on May 9