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LONDON (MarketWatch) — The state-run China Investment Corp. is going to take a C$1.7 billion ($1.5 billion) stake in Teck Cominco , a deal that will give it a 17% equity stake with 6.7% voting interest in the Vancouver miner, according to a statement released Friday. The miner said the deal will have a “very positive effect” on its balance sheet and give it a deeper understanding of China, its top consumer. CIC plans to be a “long-term passive financial investor” and hold the stake for at least one year and then won’t sell it to any other rival or material customer of Teck.
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Original post by Forextvblog

LONDON (MarketWatch) — Tesco said Friday that 22 out of 23 resolutions were passed by shareholders at its annual general meeting, Dow Jones Newswires reported. The vote was close on resolution 21 with 57% voting in favor of the supermarket group changing the rules of its 2004 share option plan, the news service said. Resolution 23, which called for Tesco to improve the treatment and pay of meat workers employed by its suppliers, was rejected by shareholders as recommended by the company. Tesco shares rose 0.4% in London.
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Original post by Forextvblog

LONDON (MarketWatch) — British Airways , Europe’s third-largest transatlantic airline, on Friday said June passenger traffic measured in revenue passenger kilometers fell by 3.8% compared to the same period last year. Non-premiun traffic declined 1.3% while premium traffic slumped 14.9%. Load factor, a measure of how full an airline’s jets are, fell 1.8 percentage points to 79.6%. Cargo traffic, meanwhile, declined 9.8%. The company said it now plans to reduce capacity by 3.5% in the summer, compared to an earlier plan of a 2.5% slash. In the winter it will cut capacity by 5%. The airline also said it’s delayed the delivery of its first six Airbus A380s by an average of five months and that of the remaining six by roughly 2 years. BA will receive its first A 380 in 2012 and its last one in 2016.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets […]

Original post by Forextvblog

LONDON (MarketWatch) — General Motors has received a non-binding approach from China’s Beijing Automotive (BAIC) for its European Adam Opel unit. The company is also in discussions with Belgian industrial holding company RHJ, a spokeswoman said Friday. GM has already signed a memorandum of understanding over the possible sale of a majority stake in Opel to Canada’s Magna International Inc. . GM and Magna are continuing to work to close that deal, the spokeswoman said.
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Original post by Forextvblog

LONDON (MarketWatch) — Ryanair Holdings , Europe’s largest low-cost airline, on Friday said it carried a record 5.8 million passengers in June, up 13% from the same month last year. The airline said the June figured smashed its previous traffic record of 5.7 million passengers last August. Load factor, a measure of how full an airplane is, improved to 85% from 84%.
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Original post by Forextvblog

I rather post bigger charts today, as I don’t expect too much action in the next and last, trading hours of the day. Take a look at the daily chart of Gbp/Usd: this week high has reached and failed to break above the 61.8% and today’s candle opened just under the 20 SMA, that lost the bullish slope and turned flat. We must also consider the fact that the pair has been trading between 1.62/1.66 from early June, and talking of dailies, we need to wait for the close, yet, if the day ends under 1.6350, then the 1.6200 will be our first mid term support, followed by 1.6060, 50 % retracement f the rally. under that level, we have a number of minimums along with 200 EMA around 1.5750, so there is a likely target to the downside for next week. On the other hand, if pair manages to […]

Original post by Valeria Bednarik

LONDON (MarketWatch) — Steelmaker Rautaruukki said it’s going to cut shifts at its Norway plant for shipbuilding and windmill towers in a move that will result in 137 job losses. The move will result in a 1.2 million euro restructuring plant.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

G10 Advancers and Decliners vs USD

JPY
0.103

EUR
-0.098

CHF
-0.178

GBP
-0.272

NFP’s disappoint by showing a -467K decline in payrolls, 100K more than the consensus. This underlines the vast layoffs from the GM and Chrysler debacle and the continuing difficulty to revive the economy. The EURUSD dropped from it’s high 1.41’s as low as 1.3930 before rebounding. While the pair broke it’s range momentarily only a healthy breakout below the 1.3900 support will prove sufficient…

Original post by Philippe Meyer

LONDON (MarketWatch) — Rolls-Royce said it’s won an order worth $470 million at list prices to provide its Trent engines for seven Airbus A330s from Turkish Airlines.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

LONDON (MarketWatch) — Insurer Friends Provident said Friday that it had received court approval to hand its stake in F&C Asset Management direct to shareholders. Shares in the group rose as much as 10% Friday, when taking account of the value of F&C shares distributed to shareholders. Under the terms of the deal, which was first announced last year, shareholders will receive 1 F&C share for every 10 Friends Provident shares held. Shares in F&C rose 1.5%. [Updated to show the price move is adjusted for the distribution of F&C shares.]
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Original post by Forextvblog