Morning Eyecatchers: House prices fall 0.7% in October

Shell Q3 beats forecasts, Kazakhmys Q3 copper output falls, Aggreko raises full-year outlook, AstraZeneca Q3 sales fall and Biocompatibles in advanced takeover talks.

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by Phil Cozens on Oct 28, 2010 at 07:49

* UK house prices fell 0.7% month-on-month in October, up 1.4% year-on-year, according to Nationwide; the biggest 3-month on 3-month drop since April last year

* Royal Dutch Shell -- a third quarter dividend of $0.42; earnings $3,521 million; has achieved some $2 billion of asset sales so far in 2010; expects some $7.8 billion of asset sales in 2010-11 timeframe; output 5% higher than Q3 2009; making good progress against targets; earnings in Q3 included non-op charge of $1,412 million

* AstraZeneca core eps target for full year narrowed to the range of $6.50 to $6.65 vs previously $6.35 to $6.65 guidance range; Q3 core eps $1.50; sales $7,898 million; revenue in US affected by generic competition for Arimidex, Pulmicort Respules and Toprol-XL; US revenue down 13% in Q3; impact from lower revenue being largely mitigated by operating efficiencies and higher other income; decline in core operating profit is chiefly the result of a net $285 million adverse movement in gross margin; to terminate development of Lesogaberan; plans no regulatory submissions for Zbotentan

* BG Group announces first production from 100,000 barrel-per-day Tupi facilities

* Premier Oil awarded five licences in UK

* Kazakhmys copper cathode production for first nine months reaches 239 kt; production remains on track to meet the full year target of at least 300 kt; by-product output in line with annual targets; 26% increase in net generated power; net debt has been reduced to $489 million from $585 million; copper output falls to 74,600 tonnes from 82,200 tonnes last year, down 9.3%

* Santander nine month net profit €6.08 billion

* Aggreko revenues in three months to 30 September were 30% higher than same period last year; believes pre-tax profits for year will be around £300 million, above consensus of expectations

* Man Group to cut as many as 200 jobs, according to Wall Street Journal

* UK Coal sees small Q3 profit; optimistic on rest of 2010

* Mouchel full-year pre-tax profit down 24%; outlook uncertain

* Development Securities acquires £23.3 million property portfolio