Market Updates
TUI Travel in Merger Talks, AngloAmerican Drops on Platinum Production Cuts
Barry Randall
16 Jan, 2013
New York City
-
Mining companies closed lower after commodities eased. AngloAmerican dropped 3% and Lonmin declined 4%. AngloAmerican plans to shutter four shafts in South Africa and cut platinum production and layoff 14,000 workers. TUI Travel and TUI AG surged on talks of merger.
Mining companies were in decline after resource sector stocks closed lower in London and in Frankfurt.
AngloAmerican declined 3% to 1,901 pence after the ANC asked South African government to withdraw mining licenses for the company’s platinum plant.
AngloAmerican Platinum Ltd said that plans to idle four shafts in South Africa and cut production of platinum by 400,000 ounces a year and may lay off as many as 14,000 workers.
The third largest platinum producer, Lonmin Plc dropped 6% to 326.6 pence
Banks were in focus after JP Morgan and Goldman Sachs reported higher earnings. Societe General SA declined 3% to €32.45 and Deutsche Bank declined 1% to €48.68. HSBC Holdings Plc increased 0.4% to 682 pence and UniCredit SpA declined €1.35.
KappAhl soared 17% to SK5.10 after the second largest Swedish clothing retailer reported first quarter net profit of SK115 million.
TUI Travel increased 4% to 292.1 pence after the company said it is in early talks to merge with TUI AG which soared 9% to €8.05.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|