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BASF to prepare agricultural business for IPO, Bloomberg reports

UPDATE 3-BASF to prepare agricultural business for IPO, Bloomberg reports Adds details on new CEO in paragraph 12, on batteries business in paragraph 13 FRANKFURT, Sept 18 (Reuters) - BASF BASFn.DE plans to prepare its agricultural chemicals business for an initial public offering in the next few years as part of restructuring measures set to be announced by the group this month, Bloomberg News reported on Wednesday.
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BASF spikes after report on Agri Chemicals listing plan

BUZZ-BASF spikes after report on Agri Chemicals listing plan ** German chemical company BASF BASFn.DE jumps 5% after a report by Bloomberg says it plans to list its Agri Chemicals business amidst overhaul plans ** Listing would take place in several years, but is set to be announced on its capital markets day later this month ** Shares were trading
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BASF expected to announce listing plans for agri chemicals division, reports Bloomberg

BASF expected to announce listing plans for agri chemicals division, reports Bloomberg BERLIN, Sept 18 (Reuters) - BASF BASFn.DE is expected to announce that it is preparing a listing of its agricultural chemicals division in several years, among other overhaul measures, at its capital markets day later this month, Bloomberg News reported on Wednesday.
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BASF Set To Announce Agri Chemicals Listing Plan In Overhaul- Bloomberg News

BRIEF-BASF Set To Announce Agri Chemicals Listing Plan In Overhaul- Bloomberg News Sept 18 (Reuters) - BASF SET TO ANNOUNCE AGRI CHEMICALS LISTING PLAN IN OVERHAUL- BLOOMBERG NEWS Source https://tinyurl.com/bdedkkj8
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European shares end lower with Fed's big rate verdict in focus

UPDATE 2-European shares end lower with Fed's big rate verdict in focus For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Fed rate decision at 1800 GMT Italy's Campari drops after unexpected CEO exit UK inflation holds at 2.2% in Aug STOXX 600 index down 0.5% Updated at 1600 GMT By Shubham Batra and Shashwat Chauhan Sept 18 (Reuters) - European shares closed lower on Wednesday, as investors refrained from risk-taking ahead of an all-import
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Former Merkel rival Friedrich Merz aims to become German chancellor

NEWSMAKER-Former Merkel rival Friedrich Merz aims to become German chancellor Candidate Merz has no previous government experience Is contrast to Merkel's consensus-driven, pragmatic approach Has stoked immigration debate with populist rhetoric Calls for more market-oriented economy, lower taxes and benefits By Sarah Marsh BERLIN, Sept 17 (Reuters) - Squeezed out of top-level politics by his arch party rival Angela Merkel more than two decades ago, Friedrich Merz is on course to land his first e
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Bayer, others defeat US farmers' chemical price-fixing lawsuit

Bayer, others defeat US farmers' chemical price-fixing lawsuit By Mike Scarcella Sept 16 (Reuters) - A U.S. judge has dismissed a lawsuit accusing agriculture giants Bayer, Corteva, Syngenta and others of conspiring with wholesalers and retail outlets to fix prices for seeds and crop protection chemicals, causing farmers to pay higher prices. St. Louis-based U.S.
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Top of the Street: Roche, Fresenius, BASF, AstraZeneca, Rational, PSP Swiss Property, Swiss Prime Site

BUZZ-Top of the Street: Roche, Fresenius, BASF, AstraZeneca, Rational, PSP Swiss Property, Swiss Prime Site A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Deutsche Bank cuts Roche ROG.S to "sell" from "buy", citing limited catalyst due to a risk of Roche creating a lot of sunk cost for little ultimate return ** J.P.Morgan upgrades Fresenius FREG.DE to "overweight" from "neutral" as it sees earnings compression at the German healthcare group coming to an
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Alstom, Siemens, Tesco

EUROPE RESEARCH ROUNDUP-Alstom, Siemens, Tesco Sept 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Alstom, Siemens and Tesco, on Friday. HIGHLIGHTS * Alstom ALSO.PA : HSBC raises target price to EUR 26 from EUR 24 * Hexagon AB HEXAB.ST : HSBC cuts target price to SEK 110 from SEK 120 * Siemens AG SIEGN.DE : HSBC cuts target price to EUR 140 from EUR 150 * Tesco TSCO.L : Citigroup raises target price to 425p from 350p * Travis P
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Jefferies ups BASF to 'hold' on more limited earnings risk

BUZZ-Jefferies ups BASF to 'hold' on more limited earnings risk ** Jefferies upgrades German chemicals giant BASF BASFn.DE to "hold" from "underperform", citing more limited earnings risk ** The analysts say global upstream chemical product spreads have improved slightly through summer from 20-year lows, alongside recovering volumes, which should s
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European firms doubt China's appetite to fix economy, lobby group says

UPDATE 2-European firms doubt China's appetite to fix economy, lobby group says Economic slowdown is No.1 concern of EU firms in China EU Chamber in China calls for more consumption stimulus Warns firms feel risks of China market no longer match rewards Growing doubts over China's commitment to reform, chamber says Adds Chinese foreign ministry comment in paragraph 12 By Joe Cash BEIJING, Sept 11 (Reuters) - European firms in China doubt the government has a credible plan to boost demand in the
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European firms doubt China has credible plan to turn economy around, lobby group warns

European firms doubt China has credible plan to turn economy around, lobby group warns Economic slowdown is No.1 concern of EU firms in China EU Chamber in China calls for more consumption stimulus Warns firms feel risks of China market no longer match rewards Growing doubts over China's commitment to reform, chamber says By Joe Cash BEIJING, Sept 11 (Reuters) - European firms in China doubt the government has a credible plan to boost demand in the ailing economy or will carry out long-promised
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German chemicals sector recovery loses momentum in Q2, says industry group

German chemicals sector recovery loses momentum in Q2, says industry group Sept 10 (Reuters) - A slight recovery in the German chemicals sector lost momentum in the second quarter, a report by the VCI industry body said on Tuesday, as both domestic and foreign orders slowed in the April-June period, especially in the pharmaceutical branch. "The global economy has not picked up speed as hoped," VCI's Managing Director Wolfgang Grosse Entrup said in a press release, adding that Germany's structura
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Moscow takes control over assets of Western companies

FACTBOX-Moscow takes control over assets of Western companies Adds Raiffeisen and Linde, updates Commerzbank Sept 6 (Reuters) - Kremlin has been seizing assets of some Western companies in Russia through decrees signed by President Vladimir Putin and court orders related to lawsuits over halted projects or blocked funds amid Western sanctions. Below is a list of the companies affected so far.
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VW factory threat stress-tests Germany's economic model

ANALYSIS-VW factory threat stress-tests Germany's economic model Industrial consensus key part of German model Volkswagen plant closure threat breaks taboos Ruling coalition struggling to agree policy By Maria Martinez and John O'Donnell BERLIN, Sept 6 (Reuters) - Having lost cheap energy from Russia and facing uncertainty over its once-lucrative trade ties with China, big German business is now facing a crunch point over a third ingredient in its long-time formula for success - consensual indus
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MS says 2025 turning point for EU chemicals, names Akzo as top pick

BUZZ-MS says 2025 turning point for EU chemicals, names Akzo as top pick ** Current demand growth in European chemicals lacks near term catalysts, but is set to improve from 2025, supported by interest rates' cuts and lower gas prices, says Morgan Stanley ** MS analysts anticipate 2.7% supply growth on average over the next four years (vs 4.6% over
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VW row flags Germany’s creaking corporate model

BREAKINGVIEWS-VW row flags Germany’s creaking corporate model The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Pierre Briancon BERLIN, Sept 5 (Reuters Breakingviews) - A company whose chief financial officer says it only has “one, maybe two” years to turn around its core brand must have done something wrong.
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Air Liquide, Novo Nordisk, Syensqo

EUROPE RESEARCH ROUNDUP- Air Liquide, Novo Nordisk, Syensqo Sept 5 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Air Liquide, Novo Nordisk and Syensqo, on Thursday. HIGHLIGHTS * Air Liquide AIRP.PA : Morgan Stanley cuts to underweight from equal-weight * Lanxess AG LXSG.DE : Morgan Stanley raises to overweight from underweight * Novo Nordisk NOVOb.CO : JP Morgan raises target price to DKK 1050 from DKK 950 * Swiss Life Holding AG
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European companies cut jobs as economy sputters

FACTBOX-European companies cut jobs as economy sputters Adds Telia Sept 4 (Reuters) - Elevated levels of inflation and the impact of the war in Ukraine have forced companies across Europe to freeze hiring or cut jobs. Here are some of the layoffs announced since the start of April: BANKS * TSB: The British bank owned by Spain's Sabadell SABE.MC is seeking 250 job cuts, its spokesperson and employee union said on May 8. INDUSTRIALS AND ENGINEERING * PKP CARGO PKPP.WA : Poland's largest freight co
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UK's Harbour Energy raises 2024 production forecast after Wintershall Dea deal close

UPDATE 1-UK's Harbour Energy raises 2024 production forecast after Wintershall Dea deal close Adds details, background throughout Sept 3 (Reuters) - Britain's Harbour Energy HBR.L raised its 2024 production forecast on Tuesday, after completing the purchase of oil and gas firm Wintershall Dea's assets. Harbour in December had agreed to acquire the non-Russian oil and gas assets of the German company in an $11.2 billion deal with co-owners BASF BASFn.DE and LetterOne, aiming to create one of the
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