Steady Start For European Stocks; Banks, Oil Ease
European stock markets opened steady to slightly lower on Monday, with sentiment weighed by data showing weaker-than-expected growth in Japan.
Samsung Heavy 2Q Net Falls 26% as Heavy Discounts on Ships Weigh
Samsung Heavy Industries Co. (010140.SE) said Monday it posted a 26% on-year decline in second-quarter net profit as heavy discounts offered on vessels during the financial crisis of 2009 were reflected in the bottom line.
Julius Baer Buys Merrill Lynch Wealth Business Outside US
Julius Baer Holding AG (BAER.VX) Monday said it will acquire Merrill Lynch's wealth management business based outside the U.S. and Japan from Bank of America Corp. (BAC) and raise fresh equity to bolster its finances as the Swiss private-banking specialist seeks to widen its global footprint and
Philippines' ICTSI 2Q Net Profit $34.9 Million; Up 11% on year
International Container Terminal Services Inc. (ICT.PH), or ICTSI, said Monday its second-quarter net profit rose 11% from the year-earlier period, helped by steady growth in the volume of cargo passing through its container ports in the Philippines and abroad.
Crude up on Middle East Tensions
Crude-oil futures rose Monday, buoyed by hopes of positive policy action from China's central bank and renewed tensions in the Middle East due to a possible escalation in the Israel-Iran conflict.
Polish KGHM's Net Profit Falls as Low Prices Bite
Polish copper miner KGHM Polska Miedz SA (KGH.WA) Monday reported a 35% drop in its second-quarter unconsolidated net profit to 1.54 billion zlotys ($465 million), as lower copper prices and a new royalty on copper and silver production start to bite.
Newcrest Cautious on New Projects as Costs Rise
The world's fourth-largest gold miner Newcrest Mining Ltd. (NCM.AU) suggested Monday that potential developments at Namosi in Fiji, O'Callaghans in Western Australia and Wafi-Golpu in Papua New Guinea may be delayed following a sustained rise in the cost of setting up new mining operations.
Magnolia Petroleum Gets 25% Stake in Devon Energy Well in Oklahoma
U.S.-focused Magnolia Petroleum PLC (MAGP.LN) Monday announced it has acquired a 25% working interest and a 18.75% net revenue interest in a well targeting the proven Mississippi Lime formation, Oklahoma.
Byotrol Unit Enters Licensing Agreement with Kimberly-Clark
Byotrol PLC (BYOT.LN), an AIM-listed anti-microbial hygiene company, said Monday that Byotrol Consumer Products, and Kimberly-Clark have agreed to enter into a full licensing agreement.
NBNK Investments Deputy Chairman David Walker Resigns
Financial services company NBNK Investments PLC (NBNK.LN) Monday announced that David Walker resigned as Deputy Chairman and Senior Independent Director with immediate effect.