UPDATE 1-Willbros pays $32.3 mln in bribe settlements - gov't

Reuters: [2008-05-14 21:56:00]

(Recasts, adds details of civil and criminal cases)

WASHINGTON, May 14 (Reuters) - Energy contractor Willbros Group Inc <WG.N> agreed to pay $32.3 million to settle investigations into undisclosed bribes to officials in Nigeria and Ecuador, U.S. law enforcement authorities said on Wednesday.

Willbros, which is based in Houston, settled cases with the Securities and Exchange Commission and the Justice Department involving violations of the U.S. anti-bribery law called the Foreign Corrupt Practices Act.

The SEC alleged that the company and four former employees paid more than $6 million in bribes to obtain significant contracts. In settling with the Justice Department, Willbros entered into an agreement to avoid prosecution.

Willbros agreed to pay $22 million to settle the Justice Department's criminal case and $10.3 million to close the SEC's civil lawsuit, which also included allegations employees schemed to pay $300,000 to officials of an Ecuadorean state-owned oil and gas company and to avoid paying taxes in Bolivia.

The SEC alleged that the Nigerian payments resulted in net profits of nearly $9 million for the company, the agency said. Houston-based Willbros provides engineering, maintenance and other services to the oil, gas and refining industries.

The SEC's complaint named Jason Steph, a former supervisory employee in Nigeria; Gerald Jansen, a former administrative supervisor in Nigeria; Lloyd Biggers, a former employee in Nigeria; and Carlos Galvez, a former accounting employee in Bolivia.

The company and the four men settled the SEC case without admitting or denying any wrongdoing.

Steph's attorney, Matt Hennessy, said his client pleaded guilty in November in a federal court in Houston to related criminal charges and is awaiting sentencing. "Jason looks forward to putting this matter behind him," Hennessy said.

Attorneys for Willbros, Biggers and Galvez could not be reached for comment. Jansen's attorney did not have an immediate comment.

Under the deferred prosecution agreement, Willbros and a subsidiary, Willbros International Inc, will have three years to fix their overseas business practices with an independent compliance monitor. (Reporting by John Poirier and Julie Vorman; Editing by Gary Hill) ((john.poirier@thomsonreuters.com; +1 202 898 8399; Reuters Messaging: john.poirier.reuters.com@reuters.net)) Keywords: WILLBROS/SETTLEMENT

Spanish stocks - Factors to watch on Tuesday

Reuters: [2008-05-13 07:45:00]

MADRID, May 13 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Tuesday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

SANTANDER <SAN.MC>

Various nwspapers says the Spanish bank will take part in Sovereign Bancorp's capital raising by investing a further 165 million euros and maintaining its stake at 24.3 percent..

REPSOL <REP.MC>

The oil company is forecast to post a decline in first-quarter adjusted net profit of 15.9 percent to 705 million euros ($1.1 billion), according to a Reuters poll of 13 analysts.

For a poll, click on [ID:nL12612060]

FERROVIAL <FER.MC>

The construction-to-services firm is set to report an 82 percent fall in first quarter profit after battling high financing costs, slower construction growth and picking up the bill for Heathrow airport's new Terminal 5, a poll showed.

For a poll, click on [ID:nL1213523]

SACYR VALLEHERMOSO <SVO.MC>, ITINERE <ITIE.MC>

The construction group is expected to post a 15.5 percent fall in first-quarter earnings as costs rise on its heavy debt burden and housing and construction slowdowns bite.

For a poll, click on [ID:nL12295225]

On Monday evening, Sacyr subsidiary Itinere <ITIE.MC>, the road toll firm, posted a 21.6 percent rise in first-quarter core earnings, thanks to higher tariffs and traffic and the opening of six new roads.

For a full story, click on [ID:nL12206952]

ACCIONA <ANA.MC>

The building-to-energy firm is expected to post a 2.5 percent rise in first quarter net profit, with the effects of a property slowdown partly offset by the incorporation of new purchase Endesa <ELE.MC>.

For a poll, click on [ID:nL12152559]

REALIA <RLIA.MC>

The builder posted a 36 percent fall in net profit for the first quarter on Monday evening, reflecting a sharp downturn in the country's property market.

For a full story, click on [ID:nL12219215]

OHL <OHL.MC>

The infrastructure firm reported a forecast-beating 71.6 percent rise in first-quarter net profit on Monday, thanks in large part to capital gains from the sale of a unit.

For a full story, click on [ID:nL12422634]

ECONOMY

Spain's National Statistics Institute publishes inflation data for March.

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/ 2

Keywords: MARKETS SPAIN FACTORS/

Spanish stocks - Factors to watch on Tuesday

Reuters: [2008-05-13 07:40:00]

MADRID, May 13 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Tuesday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:

SANTANDER <SAN.MC>

Newspaper ABC says the Spanish bank will take part in Sovereign Bancorp's capital raising by investing a further 165 million euros.

REPSOL <REP.MC>

The oil company is forecast to post a decline in first-quarter adjusted net profit of 15.9 percent to 705 million euros ($1.1 billion), according to a Reuters poll of 13 analysts.

For a poll, click on [ID:nL12612060]

FERROVIAL <FER.MC>

The construction-to-services firm is set to report an 82 percent fall in first quarter profit after battling high financing costs, slower construction growth and picking up the bill for Heathrow airport's new Terminal 5, a poll showed.

For a poll, click on [ID:nL1213523]

SACYR VALLEHERMOSO <SVO.MC>, ITINERE <ITIE.MC>

The construction group is expected to post a 15.5 percent fall in first-quarter earnings as costs rise on its heavy debt burden and housing and construction slowdowns bite.

For a poll, click on [ID:nL12295225]

On Monday evening, Sacyr subsidiary Itinere <ITIE.MC>, the road toll firm, posted a 21.6 percent rise in first-quarter core earnings, thanks to higher tariffs and traffic and the opening of six new roads.

For a full story, click on [ID:nL12206952]

ACCIONA <ANA.MC>

The building-to-energy firm is expected to post a 2.5 percent rise in first quarter net profit, with the effects of a property slowdown partly offset by the incorporation of new purchase Endesa <ELE.MC>.

For a poll, click on [ID:nL12152559]

REALIA <RLIA.MC>

The builder posted a 36 percent fall in net profit for the first quarter on Monday evening, reflecting a sharp downturn in the country's property market.

For a full story, click on [ID:nL12219215]

OHL <OHL.MC>

The infrastructure firm reported a forecast-beating 71.6 percent rise in first-quarter net profit on Monday, thanks in large part to capital gains from the sale of a unit.

For a full story, click on [ID:nL12422634]

ECONOMY

Spain's National Statistics Institute publishes inflation data for March.

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/

Keywords: MARKETS SPAIN FACTORS/

Malaysian shares seen higher, RHB Capital in focus

Reuters: [2008-05-09 02:10:00]

KUALA LUMPUR, May 9 (Reuters) - Malaysian stocks are likely to rise on Friday on the back of higher prices on Wall Street and strengthening commodity prices.

Dealers said Malaysia's fourth-largest lender, RHB Capital <RHBC.KL>, will also be in focus after its controlling shareholder, the state pension fund, sold a 25 percent stake to Abu Dhabi Commercial Bank <ADCB.AD>.

"The market should bode well today as strong U.S. market will be positive for us," said one dealer with a domestic brokerage.

"All eyes will be on RHB capital which will open for trading after the acquisition. I think it will go up to six bucks as Abu Dhabi Commercial Bank paid 7.20 ringgit per share."

RHB was suspended on Thursday, last trading at 5.25 ringgit.

Another dealer said oil-and-gas firms such as KNM <KNMP.KL>, Kencana Petroleum <KENP.KL> and Dialog Group <DIAL.KL> would be in the spotlight as crude oil prices hit another record high.

Top palm planters Sime Darby <SIME.KL>, IOI Corp <IOIB.KL> and Kuala Lumpur Kepong <KLKK.KL> could also gain as crude palm-oil prices climbed 3.3 percent on Thursday.

"Crude oil hit a fresh record which will keep oil-and-gas companies and plantations stocks in the spotlight," she said.

On Thursday, the benchmark Kuala Lumpur Composite Index <.KLSE> fell 0.53 percent to 1,280.35 points. The May futures <KLIK8> put the index at 1,275 points.

----------------------MARKET SNAPSHOT @ 2353 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 1397.68 0.37% 5.110 USD/JPY <JPY=> 103.8 0.05% 0.050 10-YR US TSY YLD <US10YT=RR> 3.7673 -- -0.015 SPOT GOLD <XAU=> 882.65 0.04% 0.350 US CRUDE <CLc1> 124.19 0.40% 0.500 DOW JONES <.DJI> 12866.78 0.41% 52.43 ASIA ADRS <.BKAS> 163.89 0.16% 0.26 -------------------------------------------------------------

> Wall St jumps on miners, oil; AIG sinks late [.N] >Euro recovers vs dlr on Trichet inflation comments [USD/] > Bonds rally on refunding cash, 30-year auction [US/] > Gold ends higher, platinum surges on ETN news [GOL/] > Oil rallies to record $124 on strong diesel demand [O/R] > SE Asian Stocks-Mostly down, Singapore at 1-week low [.SO] > Palm oil soars 3 pct on supply worry [ID:nKLR253388] > Malaysia buys 500,000 tonnes of Thai rice [ID:nBKK13286] > Pakistan July-Sept palm oil imports to jump [ID:nKLR277001] > Abu Dhabi bank buys Malaysia RHB stake [ID:nKLR70481] > Malaysia's Tenaga has sufficient coal [ID:nKLA007474] > Malaysia: flexibility to tackle inflation [ID:nKLR72470] > Malaysia's RHB Bank to post profit growth [ID:nKLA007472]

DIGI EXPECTS 3G RETURNS AFTER 3 YEARS, EYES RURAL MARKET

- Malaysian mobile-phone operator DiGi.Com <DSOM.KL> expects to take more than three years for its investments in third-generation telecommunications to break even despite 3G equipment having become cheaper, the Business Times said on Friday, quoting Chief Executive Johan Dennelind.

Dennelind also told the Malaysian Reserve that DiGi planned to expand into rural areas of Malaysia to tap an estimated market of 10 million people who currently do not use mobile services.

(Reporting by Naveen Thukral; Editing by Mark Bendeich) ((naveen.thukral@reuters.com; +603-2333-8035; Reuters messaging: naveen.thukral.reuters.com@reuters.net; areuters@gmail.com)) Keywords: MALAYSIA MARKETS STOCKS

. Keywords: MALAYSIA MARKETS STOCKS =2 KUALA LUMPUR

US STOCKS-Wall St jumps on miners, oil; AIG sinks late

Reuters: [2008-05-08 23:30:00]

(Adds AIG results after the bell and stock's reaction in 17th paragraph, volume in last two)

By Ellis Mnyandu

NEW YORK, May 8 (Reuters) - U.S. stocks rose on Thursday as a surge in global commodity prices propelled mining and energy shares higher, while technology shares gained after a top strategist said they were a good value.

Oil prices rose to a third straight closing record high and metal prices advanced as the U.S. dollar fell, driving up the shares of Chevron Corp <CVX.N> and Alcoa Inc <AA.N>. These two stocks ranked as the biggest positive influences on the Dow.

Technology shares also exerted a major positive influence after a Merrill Lynch strategist said they were a good value.

The market's advance was limited, though, by financial shares. The sector fell for a second day on concerns that new disclosure requirements for investment banks, envisioned by the U.S. Securities and Exchange Commission, may hurt bank profits. For details, see [ID:nN07565098].

Investors again took heart from fresh data suggesting the economy, while soft, was not crumbling rapidly.

"There's a shift in the overall sentiment, with people thinking that the U.S. and the world's economies aren't in such bad shape," said Cleveland Rueckert, market analyst at Birinyi Associates Inc in Stamford, Connecticut. "So that means there's still going to be construction, demand for copper, raw materials, hence the strength in material stocks today."

The Dow Jones industrial average <.DJI> finished up 52.43 points, or 0.41 percent, at 12,866.78. The Standard & Poor's 500 Index <.SPX> ended up 5.11 points, or 0.37 percent, at 1,397.68. The Nasdaq Composite Index <.IXIC> gained 12.75 points, or 0.52 percent, to close at 2,451.24.

CHEVRON JUMPS, ALCOA SHINES

Chevron's stock added 2.2 percent to $97.44 on the New York Stock Exchange, boosting both the Dow and the S&P 500.

Alcoa's shares climbed 4.1 percent to $39.65 and ranked as the Dow's second-best influence, behind Chevron.

Shares of Exxon Mobil Corp <XOM.N> contributed the most to the S&P 500's advance. Exxon gained 1.3 percent to close at $89.93 on the NSYE. The oil index <.OIX> rose 1.3 percent.

U.S. crude for June delivery settled at $123.69 a barrel, up 16 cents on the New York Mercantile Exchange. After the NYMEX regular session ended, U.S. crude extended gains and rose to a record $124.61 a barrel.

Another standout among miners was Freeport McMoRan Copper & Gold Inc <FCX.N>, whose stock finished up 3.2 percent at $118.07 on the NYSE. The prices of gold, silver and platinum headed higher as the U.S. dollar lost ground against the euro.

COMEX gold was up 1.4 percent, while silver gained 1.2 percent. July platinum gained nearly 3 percent. [ID:nN08561294]

Shares of Caterpillar Inc <CAT.N>, whose excavators and bulldozers are used in mining and construction, advanced 1 percent to $82.42, making the stock one of the biggest positive influences on the Dow.

A LITTLE APPLE POLISHING

On the Nasdaq, shares of Apple Inc <AAPL.O>, the maker of the iPod and the iPhone, climbed 1.4 percent to $185.06, while shares of Qualcomm Inc <QCOM.O>, a wireless chip and technology supplier, finished up 1.3 percent to $44.10.

Chip maker Intel Corp's <INTC.O> shares rose 1 percent to $23.40 on the Nasdaq. Merrill Lynch's chief investment strategist, Richard Bernstein, told CNBC that some of the bigger capitalization tech stocks offered good value and were under owned.

Investors sold financial stocks after weighing the impact of the SEC's disclosure plans. An S&P index of financial shares <.GSPF> fell 1.2 percent. Bank of America Corp <BAC.N>, the No. 2 U.S. bank, was the top drag on the S&P 500. Its shares ended down 1.8 percent at $37.33 on the NYSE, while shares of U.S. investment bank Morgan Stanley <MS.N> dropped 1.6 percent to $46.48.

AIG FALLS LATE ON HUGE LOSS

After the bell, American International Group Inc <AIG.N>, the world's largest insurer, posted its biggest-ever quarterly loss -- $7.81 billion -- hurt by bad mortgage investments. Its stock slid more than 5 percent in after-hours trading from its close on the NYSE at $44.15. AIG ended regular trade down 2.1 percent. [ID:nN08402912]

Economic reports included data showing that the number of U.S. workers filing claims for initial jobless benefits fell more than expected last week.

Several major U.S. retailers, including Wal-Mart Stores Inc <WMT.N>, also posted better-than-expected April sales, calming worries about consumer spending amid soaring gasoline prices and no let-up in the housing slump.

But with investors fearful of the impact that higher energy costs will have on consumers, the broader market was rather restrained as consumer-oriented stocks, including Coca-Cola <KO.N>, slipped. The soft drink's maker shares ended down 1.3 percent at $56.29 after its chief executive forecast that U.S. sales of the company's carbonated soft drinks will fall slightly this year, but rise in 2009.

Volume was light on the New York Stock Exchange, where about 1.21 billion shares changed hands, below last year's estimated daily average of 1.90 billion. On the Nasdaq, about 2.10 billion shares traded, below last year's daily average of 2.17 billion.

Advancers outnumbered decliners on the NYSE by a ratio of about 3 to 2, and on Nasdaq, by about 7 to 6. (Reporting by Ellis Mnyandu; Editing by Jan Paschal) ((Ellis.Mnyandu@thomsonreuters.com; +1 646 223 6085; Reuters Messaging:ellis.mnyandu.reuters.com@reuters.net)) ((Multimedia versions of Reuters Top News are now available for: * 3000 Xtra: visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News: http://topnews.reuters.com)) Keywords: MARKETS STOCKS