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5507 Sep --- --- --- 4885 | LONDON LIFFE D.MARK CLOSE 1614 - APR 7 |
 CME 11:15 EDT L-CATTLE APR7 69.60 UP 0.20 JUN7 64.97 OFF 0.05 AUG7 60.75 OFF 0.12 F-CATTLE APR7 69.00 OFF 0.10 MAY7 68.12 OFF 0.10 AUG7 66.50 UP 0.10 HOGS APR7 50.12 UP 0.30 JUN7 48.80 UP 0.33 JUL7 47.30 UP 0.43 BELLIES MAY7 66.25 OFF 0.15 JUL7 64.77 OFF 0.08 AUG7 61.75 UP 0.15 FEB8 56.10 UP 0.50  | |
6627 Sep --- --- --- 6041 | LONDON LIFFE S.FRANC CLOSE 1616 - APR 7 |
 Stockholm exchanges clsg apr 6 stg 10.2807 10.2872 us 6.3540 6.3560 dmk 348.3170 348.4840 ffr 104.6787 104.7981 sfr 419.8216 420.2314 bfr con 16.8139 16.8281 dfl 308.7313 308.9186 dkr 92.4016 92.4643 nkr 93.1262 93.1965 lit 0.4889 0.4893 aus sch 49.5438 49.5788 can 4.8611 4.8645 yen 4.3730 4.3774  | |
 HOSPITAL CORP OF AMERICA 100000 AT 38-1/2 UNCH ALL BUYSIDE BY ABD SECURITIES ON THE BOSTON EXCHANGE  | |
CBT soybean futures opened steady with new crop slightly firmer then rallied further to hold gains of one cent to three cents per bushel higher in light early dealings. A firmer Gulf soybean basis this morning strength in corn futures and delays in the Brazilian soybean harvest supported soybean futures despite a disappointing drop in the weekly soybean export figure yesterday afternoon traders said. A local professional house and a local house were the featured buyers of July with sellers scattered and small-lot pit brokers said. Reuter | CBT SOYBEAN FUTURES OPEN SLIGHTLY FIRMER |
The dollar remained confined in the same narrow range in quiet trading benefitting only slightly from comments by Fed Chairman Paul Volcker that further sizeable dollar losses would be counter-productive dealers said. It finished at 1.5140/50 Swiss francs after opening at 1.5128/38 and closing yesterday at 1.5185/95. Volckers remarks produced some buying interest but most people were still waiting to see what comes out of the finance ministers meetings in Washington one dealer said. Other currencies lost ground against the Swiss franc. Sterling eased after advancing sharply yesterday on expectations of an early U.K. General election. The pound ended at 2.4469/4501 francs compared with 2.4547/4578 yesterday. The mark slipped to 82.83/93 centimes from 83.11/21 and the French franc dipped to 24.90/94 from 24.98/25.02. REUTER | DOLLAR REMAINS IN NARROW RANGE IN QUIET ZURICH |
 LME COPPER AFT 2ND RING 1617 - APR 7 LAST BUYER SELLER Std Cash -- -- -- 3 Months -- -- --  | |
 N.Y. COMMODITY FUTURES ESTIMATED VOLUMES - APRIL 7 Time 11.00 Coffee 825 Cocoa 756 Sugar 11 7040 Sugar 14 16 Orange ---- Cotton ---- Sugar 11 options calls 364 Sugar 11 options puts 115 Reuter  | |
 LME COPPER AFT 2ND RING 1617 - APR 7 LAST BUYER SELLER Hg Cash 909.5 909.5 910.0 3 Months 879.0 879.0 879.5  | |
slaughter steers were firm to 0.50 dlr higher in active trade and heifers fully steady amid limited supply the usda said. steers - choice 2-4 975-1250 lbs 64.00-65.50 package 2-3 1230 lbs 66.00. heifers - few lots choice 2-4 900-1075 lbs 61.50-63.00. Reuter | ST LOUIS CATTLE STEADY/UP 0.50 DLR - USDA |
The records in turnover set by the London International Financial Futures Exchange (LIFFE) in March could be surpassed in the coming months Liffe Chief Executive Michael Jenkins said. Last month Liffe saw record monthly futures volume at 1.15 mln lots and record monthly options volume at 97700. Total Liffe volume in first quarter 1987 rose to 2.8 mln contracts or 89 pct up on the same 1986 period. Long gilt turnover in first quarter 1987 was 300 pct up on the year-ago period at 1.63 mln lots versus 409500. But T-bond volume fell by 38 pct to 244500 in first three months 1987. Jenkins told Reuters the higher volumes for gilts reflected in part the volatility in the U.K. Markets in recent months while the falloff in T-bonds was an indication of the relative stability of U.S. Credit markets. Jenkins said he saw room for the whole financial futures sector to grow further in the coming months. In particular FT- SE 100 futures had great scope for expansion and turnover in them should be much higher by end 1987. FT-SE futures volume was 62700 in first quarter 1987 an increase of 124 pct over the 28000 contracts recorded in the same months of 1986. Institutions here had been slow to find out about the use of stock exchange futures but they would now learn more Jenkins predicted. Commenting on the difference in popularity between gilts and bonds Jenkins said Liffe had designed the widest possible variety of contracts so that at any given time at least one sector would be volatile enough to attract trading. The current situation of U.S. Markets being steady and U.K. Ones changeable might alter completely in coming months. A further boost to Liffes volume and attractiveness should come with the introduction of yen bond futures he added. REUTER | LIFFE, AFTER RECORD VOLUMES, SEES MORE GROWTH |
Net 12.3 mln vs 6438000 NOTE: Company went public in March. Reuter | NEW BEDFORD INSTITUTION FOR SAVINGS <NBBS> YEAR |
Honeywell Bull a 1.9 billion dlr computer systems company formed March 27 by Honeywell Inc <HON> Compagnie des Machines Bull of France and NEC Corp of Japan said it introduced a line of high-performance computers for medium and large companies. The company also unveiled software for the new systems to facilitate patient care in hospitals and control inventory and production in factories. Honeywell Bull said its new line includes five models in the DPS 7000 family of 32-bit virtual memory systems that support as many as 600 terminals and perform between 9000 and 52000 transactions an hour. Prices for the systems will range from 127000 dlrs to more than 1.0 mln dlrs. It said two integrated modular software packages introduced are specifically for operation on DPS 7000 computers. Reuter | HONEYWELL BULL UNVEILS FIVE NEW COMPUTERS |
The Oxford Energy Co said it received final approval from the Connecticut Department of Public Utiliy Control of a power contract for the companys tire burning energy plant to be located in Sterling Conn. The Oxford facility has an estimated total cost of approximately 70 mln dlrs and is expected to start construction during the second half of 1987. Construction of the project is subject to the receipt of various state and local permits the company said and the arrangement of financing. Under the terms of the order issued by the Connecticut Department of Publc Utility Control Connecticut Light and Power Co will be required to purchase the output of the Sterling facility under a 25-year power purchase aagreemnt at prices fixed by the contract formulas the company said. Reuter | OXFORD ENERGY CO <OEN> TO BUILD ENRGY PLANT |
Polydex Pharmaceuticals Ltd said a U.S. patent for an anti-wrinkle cream ingredient has been assigned to the company by its chairman Thomas C. Usher. The company said the pantent was granted to Usher for skin permeable elastin. Reuter | POLYDEX <POLXF> ANTI-WRINKLE INGREDIENT PATENTED |
Digital Transmission Inc is offering 400000 units at 9.625 dlrs a unit underwriter Muller and Co Inc said. Net proceeds will be used for sales and marketing research and development capital equipment and working capital. The underwriter has been granted an over-allotment option to buy up to 60000 more units. Each unit consists of four shares of class A common stock and one class A common stock purchase warrant. The stock and the warrants are not detachable or separately tradeable until six months after the offering or an earlier date that may be determined by the underwriter. Reuter | DIGITAL TRANSMISSION <DTINU> OFFERS UNITS |
CBT soyproduct futures traded higher early in sympathy with the unexpected strength in soybeans with soyoil up 0.13 to 0.16 cent per lb and soymeal 0.40 to 1.00 dlr per ton higher traders said. A mostly steady tone in overseas vegetable oils and feeds markets underpinned initial values here they added. A local professional house seen buying July soybeans also bought July soyoil with Produce Grain a buyer of September pit brokers said. Continental Grain and E.F. Hutton bought July soymeal with sellers scattered and small-lot they said. Reuter | CBT SOYPRODUCT FUTURES HIGHER IN EARLY TRADE |
 CBT 11:20 EDT WHEAT MAY7 288 UP 1 3/4 JUL7 273 1/4 UP 1/2 SEP7 273 3/4 UP 3/4 DEC7 279 1/4 UP 1 1/4 MAR8 279 UP 1 3/4 CORN MAY7 159 3/4 UP 1 1/2 JUL7 163 1/2 UP 1 3/4 SEP7 168 1/2 UP 2 1/4 DEC7 176 3/4 UP 2 MAR8 183 1/2 UP 1 3/4 OATS MAY7 149 1/4 OFF 3/4 JUL7 138 1/4 OFF 1/4 SEP7 128 3/4 UP 1/2 DEC7 134 UNCH MAR8 UNTRD BEANS MAY7 501 3/4 UP 2 JUL7 502 3/4 UP 2 1/2 AUG7 503 UP 3 1/2 SEP7 498 1/2 UP 4 1/2 NOV7 500 UP 4 JAN8 507 UP 4 1/2 MEAL MAY7 1457 UP 4 JUL7 1457 UP 6 AUG7 1458 UP 8 SEP7 1458 UP 7 OCT7 1460 UP 9 OIL MAY7 1555 UP 12 JUL7 1598 UP 20 AUG7 1607 UP 12 SEP7 1624 UP 13 OCT7 1642 UP 17  | |
 LONDON GOLD CLOSING - APRIL 7 420.00/420.50 DLRS (Afternoon fix 418.50) Krugerrand 424.75/425.25  | |
Presidential Airways Inc saiud it has sold 10 of its 11 Boeing 737s to Ryder System Inc <RDR> which then leased seven of the planes Boeing Co <BA> made planes back to Presidential on a short-term basis. The company said it ended long-term leases on the planes. The short-term leases will run up to eight months and the aircraft will be returned to Ryder on completion of present charter commitments coincinding with the expected deliveries of British Aerospace Bae146 jets. In Miami Ryder said it will sell the three planes that Presidedntial will not lease back to other airlines. Reuter | PRESIDENTIAL AIR <PAIR> IN SALE/LEASEBACK |
MINNEAPOLIS WHEAT MAY7 285 1/4 UP 1 3/4 JUL7 281 UP 1/4 SEP7 277 UP 1 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 11:20 EDT |
 LONDON LIFFE U.S. T-BONDS CLOSE 1620 - APR 7 MTH LAST HIGH LOW PR.SET Jun 9725 9731 9718 9802 Sep 9623 9623 9623 9700 Dec --- --- --- 10012  | |
Highwood Resources Ltd said it is not aware of any material change in the companys affairs to account for recent trading activity in the companys shares but said it anticipates being a future producer of minerals used in electronic superconductors. Recent widespread publicity concerning superconductors suggest a greatly increased demand for yttrium and lanthanide minerals Highwood said. The company said it is developing such deposits at Thor Lake Northwest Territories in cooperation with Hecla Mining Co of Idaho. Highwood Resources said the deposits contain beryllium yttrium lanthanides niobium and tantalum. It did not immediately elaborate on estimated reserves on the property. Highwood shares traded earlier on the Toronto Stock Exchange at 6-7/8 up 1/8 after climbing 1-1/8 in yesterdays session. Reuter | HIGHWOOD <HIWDF> COMMENTS ON SHARE PRICE RISE |
Spot tin on the European free market was indicated in the range 4200 to 4230 stg per tonne for high grade metal in warehouse Rotterdam down 10 stg from yesterday afternoon. Traders said the market remained quiet with sales reported between 4230 and 4210 stg and currency factors still tending to weigh on the price structure. There was still no sign of significant fresh end-user enquiry for second-quarter requirements dealers said. REUTER | SPOT TIN SLIGHTLY LOWER ON EUROPEAN FREE MARKET |
 CBT 11:20 EDT WHEAT MAY7 287 3/4 UP 1 1/2 JUL7 272 1/2 OFF 1/4 SEP7 273 3/4 UP 3/4 DEC7 279 1/4 UP 1 1/4 MAR8 279 UP 1 3/4 CORN MAY7 159 3/4 UP 1 1/2 JUL7 163 3/4 UP 2 SEP7 168 1/2 UP 2 1/4 DEC7 177 UP 2 1/4 MAR8 183 3/4 UP 2 OATS MAY7 149 1/4 OFF 3/4 JUL7 138 1/4 OFF 1/4 SEP7 128 3/4 UP 1/2 DEC7 134 UNCH MAR8 UNTRD BEANS MAY7 501 3/4 UP 2 JUL7 503 UP 2 3/4 AUG7 503 UP 3 1/2 SEP7 497 3/4 UP 3 3/4 NOV7 499 3/4 UP 3 3/4 JAN8 506 3/4 UP 4 1/4 MEAL MAY7 1456 UP 3 JUL7 1457 UP 6 AUG7 1458 UP 8 SEP7 1460 UP 9 OCT7 1460 UP 9 OIL MAY7 1554 UP 11 JUL7 1588 UP 10 AUG7 1607 UP 12 SEP7 1624 UP 13 OCT7 1642 UP 17  | |
 U.S SPOT PRODUCTS--MORNING--APRIL 07 1100 EST Spot oil product markets are firmer than yesterday in thin trading brokers said. they said prices are up mainly on crude strength because there is still little interest in moving cash products. traders said product inventories are still ample and players dont see any reason to buy right now. spot gasoline is stronger than two oil this morning gaining about 0.50 cent a gallon in nyh and 0.40 in the usg. new york barrels were still about one cent under futures at 52.45 cts/gal while us gulf sellers were asking around a 1.60 discount or 51.85. spot two oil rose 0.35 cent in ny harbor to 49.35. usg two oil is up 0.15 cent from monday at 46.95. Reuter  | |
The Federal Home Loan Bank Board adjusted the rates on its short-term discount notes as follows: MATURITY NEW RATE OLD RATE MATURITY 30-176 days 5.00 pct 5.00 pct 30-176 days 177-195 days 5.85 pct 5.83 pct 177-195 days 196-271 days 5.00 pct 5.00 pct 196-271 days 272-295 days 5.93 pct 5.91 pct 272-295 days 296-341 days 5.00 pct 5.00 pct 296-341 days 342-346 days 5.90 pct 5.90 pct 342-346 days 347-360 days 5.00 pct 5.00 pct 347-360 days Reuter | FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES |
 LME ALUMINIUM AFT 2ND RING 1622 - APR 7 LAST BUYER SELLER Cash -- -- -- 3 Months 803.5 803.5 804.0  | |
General Electric Co said that EH Industries a joint effort between <Westland Helicopter> of England and the <Augusta Group> of Italy rolled out the first prototype EH 101 helicopter in Yeovil England. GE said the helicopter is powered by three GE T700 engines. The company added that the multi-mission EH 101 has naval utility and civil models. The latter two will be powered by 2000 shaft horsepower CT7-6 engines being co-developed by GE <Fiat Aviazione> and <Alfa Romeo Avio> GE said. Reuter | GENERAL ELECTRIC<GE>-POWERED HELICOPTER UNVEILED |
Rich Inc wholly owned by Reuters Holdings Plc <RtrSY> said it completed installation of a 20 mln dlr trading system for Merrill Lynch and Co Inc <MER> in New York. The company said its Composite Information System was designed and installed for Merrill Lynch in the investment firms World Financial Centre offices in downtown Manhattan. The system which offers access to financial news in-house computers commercial television and other services includes 479 equity positions 614 in the debt area and 152 municipal markets positions the company said. REUTER | REUTER UNIT COMPLETES MERRILL LYNCH TRADING SYSTEM |
The African Development Bank (ADB) said it increased its lending by 42.1 pct last year to 1.64 billion dlrs from 1.15 billion dlrs in 1985. A bank statement said agriculture set as the main growth area in a five-year economic recovery program adopted in 1985 by African states received 607 mln dlrs 37 pct of the total. The ADB is made up of the bank itself its financing soft-loan arm the African Development Fund (ADF) and the Nigeria Trust Fund another soft-loan institution. ADB president Babacar NDiaye released a 1987 economic report on Africa prepared by the ADB and the U.N. Economic Commission for Africa (ECA) saying progress was being made toward substantial increases in the banks capital resources. He said an ad-hoc committee of the ADB board of governors comprising 18 African and non-African countries recommended a 200 pct increase in the organisations capital for 1987-91. He said such an increase would raise capital from around 6.55 billion dlrs to 19.66 billion dlrs adding he was hopeful the proposal would be adopted at the annual meetings of the bank and fund due to be held jointly in Cairo in June. He welcomed Frances recent proposals to the Paris Club of Western government creditors to extend repayment periods for Third World debts and give better rescheduling terms. The proposition represents a major step forward. But African countries should not be the ones to ask for large-scale debt write-offs he said. Africas total external debt was estimated at 175 billion dlrs at the end of 1986. The ECA-ADB report said prospects would remain bleak for African economies in 1987 but predicted Gross Domestic Product (GDP) growth ranging between 2.5 and four pct compared with 1.2 pct last year. REUTER | AFRICAN DEVELOPMENT BANK LOANS ROSE 42 PCT IN 1986 |
barrow and gilt prices rose 0.50 dlr in moderately active trade the usda said. steers - choice 2-4 1100-1400 lbs 66.50-67.50 two loads 68.00-68.50. heifers - choice 2-4 975-1150 lbs 64.50-65.00 two loads 65.75-66.00. Reuter | OMAHA CATTLE UP 0.50 DLR - USDA |
Melridge Inc said its 50 pct owned Conroys Inc subsidiarey which franchises flower shops has entered into an agreement for an affiliate of Public Storage Inc to acquire and develop real estate for the expansion of Conroys franchise operations. The company said under the agreement Public Storage will obtain an undisclosed equity interest in Conroys and Melridge and undisclosed equity interest in the Public Storage affiliate. Reuter | MELRIDGE <BULB> UNIT IN REAL ESTATE AGREEMENT |
Shr 64 cts vs 38 cts Net 1062000 vs 585000 Sales 13.6 mln vs 9262000 Reuter | PHOTRONICS CORP <PHOT> YEAR FEB 28 NET |
Midway Airlines Inc said its March load factor declined to 59.2 pct from 61.3 pct in the same year-ago period. It said revenue passenger miles increased to 200.9 mln from 167.2 mln and available seat miles rose to 339.5 mln from 272.9 mln. Year to date Midway said its load factor declined to 56.1 pct from 57.8 pct. It said revenue passenger miles gained to 534.0 mln from 450.0 mln and available seat miles went to 952.1 mln from 778.8 mln. Reuter | MIDWAY AIRLINES <MDWY> MARCH LOAD FACTOR FALLS |
Shr eight cts vs seven cts Net 215821 vs 196873 Sales 3112571 vs 2649003 Reuter | OCEAN BIO-CHEM INC <OBCI> YEAR NET |
Durakon Industries Inc said its All Star Liner will be sold as the exclusive pickup truckbed liner in Lowes Cos Incs 300 retail home center outlets in the Southeastern U.S. Reuter | LOWE'S <LOW> TO SELL DURAKON <DRKN> LINER |
Federal Resources Corp said it has named John Kotts president and chief operating officer replacing Paul Hannesson who remains chairman and chief executive officer. Reuter | FEDERAL RESOURCES <FDRC> NAMES NEW PRESIDENT |
Walker Telecommunications corp said Teledial America has selected the fiber optic system operated by Walkers Mutual Signal Corp subsidiary to carry Teledials traffic in Michigan and link interstate facilities throughout the country. Reuter | WALKER TELECOMMUNICATIONS <WTEL> GETS CONTRACT |
 NY COTTON 11:25 MAY7 5610 UP 30 JUL7 5520 UP 30 OCT7 5525 UP 20 DEC7 5510 UP 35 MAR8 5615 UP 50 MAY8 UNTRD JUL8 UNTRD OCT8 UNTRD  | |
Australian Industry Development Corp is issuing a zero coupon eurobond with total redemption amount 30 mln Australian dlrs lead manager Orion Royal Bank Ltd said. The issue matures on May 12 1992 and is priced at 53-1/2 pct. It is available in denominations of 1000 and 10000 Australian dlrs and will be listed in Luxembourg. Payment date is May 12. Credit Suisse First Boston Ltd Commerzbank AG Hambros Bank Ltd and Merrill Lynch Capital Markets are co-lead managers. There will be no co-managers. Fees total 1-3/8 pct. REUTER | AIDC ISSUES AUSTRALIAN DOLLAR ZERO COUPON EUROBOND |
Knight-Ridder Inc <KRI> said its TKR Cable Co joint venture with Tele-communications Inc has signed a letter of intent to acquire cable television systems with 55000 basic subscribers in Wildwood N.J. and Ramapo and Warwick N.Y. from Tele-Communications for undisclosed terms. Reuter | TELE-COMMUNICATIONS <TCOMA> SELLS CABLE SYSTEMS |
Up to 70 pct of the 240 finance companies operating in Sweden are likely to be squeezed out over the next few years by the deregulation of financial markets the Association of Swedish Finance Companies said. Association chairman Arne Ogren told a news conference that a major restructuring of the sector was inevitable. Central Bank governor Bengt Dennis said when announcing the deregulation in November 1985 that one of his main aims was to give commercial banks a chance to compete on equal terms with finance companies and so undermine Swedens grey market. Total credit granted by the Swedish finance companies rose to 77 billion crowns in 1986 from 64.7 billion in 1985. This includes leasing and is the equivalent of 19 pct of all outstanding loans by the banking sector at end-1986. Ogren said that if proposals now being discussed by a government-appointed inquiry into the credit market to license finance companies and make them increase their share capital were pushed through up to 70 pct would disappear. But he said this would in fact have little effect on credit volumes as the 42 biggest finance companies accounted for 70 pct of lending by the entire sector. The explosive growth of Swedish finance companies began in the early 1970s and commercial banks even started their own to get around the tight restrictions then imposed on banking activities and particularly on the growth of lending. Now that they were on an equal footing with their parent companies many bank-owned finance companies faced an identity crisis Ogren said. He predicted there would be mergers and individual firms would carve out specialised niches to ensure their survival in a deregulated climate. Ogren said the sectors losses on bad loans were bound to rise steeply in 1989-1990 due to the rush to increase credit. REUTER | SWEDISH FINANCE FIRMS SEEN HIT BY DEREGULATION |
 WALL STREET INDICES 1100 NYSE COMPOSITE 171.45 UP 0.49 NYSE INDUSTRIALS 208.40 UP 0.92 S AND P COMPOSITE 303.22 UP 1.27 NYSE-A VOLUME 95638000 AMEX INDEX 343.81 UP 1.58 AMEX-B VOLUME 6091300  | |
Wall Street stocks staged a strong rebound after being hurt by an early round of futures related sell programs and profit taking. The advance was led by automakers and a firm oil sector. Special situation stocks Texaco and UAL were actively traded. The Dow Jones Industrial Average down more than 10 points in the first minutes of trading stood at 2415 up 10 late this morning. Advances led declines by only a slight margin on volume of 77 mln shares. GM gained two to 83-1/2 and Ford one to 91-1/8. Chrysler rose 1/4 to 58-1/2. Texaco gained 3/8 to 34 and UAL fell 5/8 to 65-1/8. Reuter | WALL STREET STOCKS HIGHER IN LATE MORNING |
Shr profit 25 cts vs loss 15 cts Net profit 998000 vs loss 612000 Revs 8086000 vs 365000 Reuter | ENVIRONMENTAL POWER CORP <POWR> YEAR NET |
 LONDON LIFFE GILTS CLOSE 1625 - APR 7 MTH LAST HIGH LOW PR.SET Jun 12323 12419 12322 12407 Sep 12323 12323 12323 12407 Dec 12324 12324 12324 12408 Mar --- --- --- 12407 Jun --- --- --- 12208  | |
 LME NICKEL AFT 2ND RING 1627 - APR 7 LAST BUYER SELLER Cash -- -- -- 3 Months -- 2355 2360  | |
Swedish industry expects a rise in both production and exports during this year with engineering and forest companies forecasting the largest increases a survey by the National Institute for Economic Research showed. The government institute said in the survey -- of 2000 manufacturing companies -- that industry this year planned to reduce both raw material and finished goods inventories. It said domestic demand was expected to be mainly unchanged but that exports should rise significantly. The number of firms operating at full capacity fell slightly however in the first quarter said the report which gave no figures. REUTER | SWEDISH INDUSTRY SEES HIGHER 1987 PRODUCTION |
U.S. energy futures traded consistently above yesterdays closing prices in thin activity this morning with underlying support from April 15-day forward North Sea Brent crude traders said. April Brent traded as high as 19.40 dlrs a barrel today or more than 1.00 dlr above May Brent prices because of a supply squeeze according to traders. U.S. energy futures are probably influenced by April Brent more than anything else today said John OConnell assistant vice president at Refco Inc. May crude was up 18 cts to 18.85 dlrs a barrel. There is no reason to sell energy futures at these prices because the fundamentals have not changed said OConnell adding that the OPEC pricing/production accord continues to hold. Mixed trade participants dominated crude futures while local traders were featured in products traders said. They said U.S. energy futures ran into resistance at todays highs. May heating oil was up 0.46 cent at 49.25 cts a gallon after trading within a narrow 0.30-cent range. May unleaded gasoline was up 0.61 cent to 53.55 cts a gallon at the high end of a 0.35-cent range. Reuter | U.S. ENERGY FUTURES STEADY BUT QUIET |
 LONDON COCOA SHIPMENTS CLOSING - APR 7 GHANA Cocoa differentials based on London terminal prices stg per tonne cif U.K./N.E. SPOT 50 over May Mar/May 50 over May Apr/Jun 55 over Jul May/Jul 55 over Jul Jun/Aug 60 over Sep Jul/Sep 65 over Sep Oct/Dec 80 over Dec All nominal sellers  | |
The inflow of long-term capital into West Germany slumped to 606 mln marks in February from Januarys record 11.91 billion with foreign purchases of German bonds and shares declining sharply the Bundesbank said. While foreigners bought only four billion marks worth of German bonds in February after 13 billion in January they sold a net 500 mln marks in shares and promissory notes of public authorities after sales worth 300 mln in January. With German investors purchases of foreign securities steady around 1.3 billion marks only 2.2 billion marks were imported through securities transactions after 11.2 billion. Direct investment abroad led to a capital outflow of 1.60 billion marks in February after 2.83 billion in January. There was a deficit of 8.14 billion marks in the short-term capital account after a surplus of 194 mln in January. Banks alone exported some 8.6 billion marks in funds while domestic companies increased their short-term financial assets abroad by 700 mln. But public authorities received some one billion marks from abroad the Bundesbank said in a statement. Combining long and short term capital outflows West Germany recorded a net outflow of 7.53 billion marks in February against a net inflow of 11.91 billion in January. The Bundesbank confirmed the German trade surplus widened to 10.45 billion marks in February from Januarys 7.20 billion. Taking the two months together the seasonally adjusted surplus was slightly below the figure for the previous two. In terms of current as well as constant prices the narrowing of the surplus was progressing the bank said. Germanys current account surplus widened to 6.63 billion marks in February from 4.79 billion in January but was down on the 7.26 billion figure for February 1986. Seasonally adjusted the February current account surplus narrowed against January. While exports in February fell a half pct against the same month last year imports fell 10-1/2 pct largely due to the drop in prices. Exports grew three pct in volume and imports two pct. In the balance of services a fall in net investment income led to a 300 mln mark deficit in February after a 300 mln mark surplus in January. The deficit in transfer payments widened to 3.70 billion marks from 2.69 billion largely due to a sharp jump to 2.3 billion marks from 200 mln in payments to the European Community budget. REUTER | GERMAN LONG-TERM CAPITAL INFLOW SLUMPS IN FEBRUARY |
 PRS PARIS/LE HAVRE COFFEE CLSG - APR 07 May 1190/1209 ba Jul 1200 BID Sep 1250/1260 ba Nov 1250/1270 ba Jan 1255 BID Mar 1263 BID May 1266 BID Sales at call NIL accumulative total ELEVEN Yesterdays official turnover: 65 STEADY  | |
British Telecommunications Plc <BTY.L> said it had signed a collaboration agreement with Nippon Telegraph and Telephone Corp on the exchange of personnel and information over a three-year period beginning April 7. The company said in a statement the plan is designed to promote increased business activities of both firms. In a separate statement British Telecommunications said that it had signed a two-year eight mln Canadian dlr distribution agreement with <Gandalf Technologies Inc> of Canada to distribute its Mezza VoiceStation system in Canada and the U.S. Reuter | BRITISH TELECOM, NTT SIGN COOPERATION AGREEMENT |
 NY COFFEE 11:30 MAY7 10200 OFF 4 JUL7 10400 UNCH SEP7 10600 OFF 5 DEC7 10890 OFF 10 MAR8 11100 UP 50 MAY8 11300 UP 50 JUL8 UNTRD SEP8 UNTRD  | |
 NY SUGAR 11 1130 MAY7 670 OFF 9 JUL7 689 OFF 4 SEP7 696 OFF 12 OCT7 710 OFF 3 JAN8 UNTRD MAR8 747 OFF 8 MAY8 UNTRD JUL8 780 OFF 3  | |
 NY COMEX SILVER 11:30 APR7 6670 UP 122 MAY7 6710 UP 130 JUN7 6730 UP 113 JUL7 6790 UP 136 SEP7 6875 UP 145 DEC7 6995 UP 157 JAN8 7000 UP 124 MAR8 7130 UP 184 MAY8 7190 UP 165  | |
slaughter cattle rose 0.50 to 1.00 dlr in active trade the usda said. steers - choice 2-3 1100-1300 lbs 66.50-68.00. heifers - one load high dressing choice 3 near 1100 lbs 66.75. choice 2-4 975-1100 lbs 65.00-66.00. Reuter | SIOUX CITY CATTLE UP 0.50/1.00 DLR - USDA |
 CME 11:30 EDT L-CATTLE APR7 69.77 UP 0.37 JUN7 65.10 UP 0.08 AUG7 60.87 UNCH F-CATTLE APR7 69.05 OFF 0.05 MAY7 68.17 OFF 0.05 AUG7 66.50 UP 0.10 HOGS APR7 50.20 UP 0.38 JUN7 48.90 UP 0.43 JUL7 47.40 UP 0.53 BELLIES MAY7 66.40 UNCH JUL7 64.90 UP 0.05 AUG7 61.70 UP 0.10 FEB8 56.10 UP 0.50  | |
Cotton futures were steady this morning on commission house buying. But trade selling was keeping gains to a minimum brokers said. There was no news but brokers said the market is technically weak and in search of a bottom. Recent news of poor export sales remained a damper brokers said. Cotton for May delivery was up 0.25 cent at 56.05 cents a lb in a 56.30 to 55.80 cent range. December delivery was up 0.40 cent at 55.15 cents. Reuter | N.Y. COTTON FUTURES STEADY IN EARLY TRADING |
 CBT SILVER 11:30 EDT 1000 OUNCE APR7 6720 UP 150 MAY7 6700 UP 100 JUN7 6750 UP 110 AUG7 6840 UP 120 OCT7 6900 UP 100 DEC7 7000 UP 120 FEB8 7100 UP 140 APR8 7200 UP 160 JUN8 7300 UP 180 AUG8 UNTRD  | |
barrow and gilt prices were mostly 1.00 dlr higher instances up 1.25 few early sales steady to up 0.50 dlr in active trade the usda said. top 51.50 dlrs per cwt. us 1-3 220-260 lbs near 275 head 51.75. us 1-3 220-260 lbs 51.00-51.50 near 360 head early 50.50-51.00 and 200-220 lbs 50.00-51.00. sows - up 2.00 dlrs. us 1-3 500-650 lbs 47.50-48.00. Reuter | SIOUX CITY HOGS STEADY/UP 1.25 DLR - USDA |
 LME SILVER AFT 2ND RING 1632 - APR 7 LAST BUYER SELLER Large Cash -- 411.0 413.0 3 Months -- 420.0 422.0 Small Cash -- 411.0 413.0 3 Months -- 420.0 421.0  | |
MINNEAPOLIS WHEAT MAY7 285 UP 1 1/2 JUL7 281 UP 1/4 SEP7 277 UP 1 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 11:31 EDT |
 LME UNOFFICIAL PRICES - APR 7 CASH 3 MONTHS COPPER -A- 909.50 910.00 879.00 879.50 COPPER STD 861.00 861.50 858.00 860.00 LEAD 308.00 309.00 301.00 302.00 ZINC HG 457.00 458.00 456.00 457.00 SILVER 10 411.0 413.0 420.0 422.0 SILVER 2 411.0 413.0 420.0 422.0 ALUMINIUM 868.50 870.00 803.00 803.50 NICKEL 2335 2345 2355 2360 REUTER  | |
 CBT 11:31 EDT WHEAT MAY7 287 UP 3/4 JUL7 272 OFF 3/4 SEP7 272 3/4 OFF 1/4 DEC7 278 3/4 UP 3/4 MAR8 278 1/4 UP 1 CORN MAY7 160 UP 1 3/4 JUL7 163 3/4 UP 2 SEP7 168 3/4 UP 2 1/2 DEC7 177 UP 2 1/4 MAR8 184 UP 2 1/4 OATS MAY7 149 OFF 1 JUL7 138 OFF 1/2 SEP7 128 1/4 UNCH DEC7 134 UNCH MAR8 UNTRD BEANS MAY7 501 1/4 UP 1 1/2 JUL7 502 1/4 UP 2 AUG7 502 1/4 UP 2 3/4 SEP7 497 3/4 UP 3 3/4 NOV7 499 UP 3 JAN8 506 UP 3 1/2 MEAL MAY7 1456 UP 3 JUL7 1456 UP 5 AUG7 1458 UP 8 SEP7 1458 UP 7 OCT7 1460 UP 9 OIL MAY7 1554 UP 11 JUL7 1588 UP 10 AUG7 1605 UP 10 SEP7 1622 UP 11 OCT7 1635 UP 10  | |
 CME 11:31 EDT L-CATTLE APR7 69.77 UP 0.37 JUN7 65.12 UP 0.10 AUG7 60.85 OFF 0.02 F-CATTLE APR7 69.05 OFF 0.05 MAY7 68.20 OFF 0.02 AUG7 66.50 UP 0.10 HOGS APR7 50.25 UP 0.43 JUN7 48.95 UP 0.48 JUL7 47.40 UP 0.53 BELLIES MAY7 66.42 UP 0.02 JUL7 64.92 UP 0.07 AUG7 61.70 UP 0.10 FEB8 56.10 UP 0.50  | |
 NY COMEX ALUMINUM 11:31 LAST CHANGE APR7 UNTRD MAY7 6150 UNCH JUN7 UNTRD JUL7 UNTRD SEP7 UNTRD DEC7 UNTRD JAN8 UNTRD FEB8 UNTRD MAR8 UNTRD MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD DEC8 UNTRD JAN9 UNTRD  | |
The European Commission has not taken a decision on applications from the British government for the release of 200000 tonnes of intervention feed wheat onto the British market in May and June Commission sources said. They said last weeks cereals management committee agreed to release 70000 tonnes of feed wheat through weekly tenders between April 14 and May 26. It also indicated it planned to allow the release of another 30000 tonnes from April 23. However it decided to leave consideration of the release of further wheat until later. The British government had applied for the release of a further 100000 tonnes in both May and June from British intervention stores to prevent market prices rising. However the sources said the Commission wanted to review the market situation nearer the time before giving its approval. The Commission was given new powers last year to control the release of intervention cereals onto the market the sources noted. Following last weeks committee meeting the U.K. Ministry of Agriculture said the Commission had given an assurance that additional quantities of intervention wheat would be made available in May and June. It also said that it was envisaged that monthly releases would be at least 100000 tonnes depending on the state of the market. This lead to the widespread assumption that the Commission had actually approved the release of 300000 tonnes during the three months of April May and June at last weeks meeting. Reuter | EC SOURCES SAY UK WHEAT PLAN YET TO BE APPROVED |
 NY COMEX COPPER 1130 APR7 UNTRD MAY7 6270 UP 5 JUN7 UNTRD JUL7 6245 UP 10 SEP7 6265 UP 15 DEC7 6290 UP 15 JAN8 UNTRD MAR8 6340 UP 15 MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD DEC8 UNTRD JAN9 UNTRD  | |
 PARIS COCOA BUTTER 17.32 - APR 07 (Unofficial Sterling indications. Bid/Ask rate in French francs followed by Stg conversion) May 2838/2843 ba (9.8050/8200 ) Jul 2888/2898 ba (9.7810/8000 ) Sep 2918/2928 ba (9.7500/7700 ) Dec 2968/2978 ba (9.7250/7450 ) Mar 2998/3008 ba (9.6910/7160 ) May 3048/3058 ba (9.6800/7050 )  | |
 NY COCOA 11:31 MAY7 1928 OFF 6 JUL7 1961 OFF 6 SEP7 1984 OFF 5 DEC7 2010 OFF 5 MAR8 UNTRD MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD  | |
 U.S. LARD AND TALLOW - APRIL 7 (CTS PER LB SPOT CHICAGO) CENTRIFUGAL PROCESS LARD FOB 14.50 - UNC - CIF GREAT LAKES 14.50/14.75N - FOB NEW YORK 16.75N - FAS NEW YORK 16.50N TALLOW - EDIBLE 14.00 - UNC INEDIBLE BLEACHABLE 12.50 - UNC GREASE CHOICE WHITE (ALL HOG) 10.50 - UNC UNC - UNCHANGED N - NOMINAL A - ASKED Reuter  | |
The New York brokerage firm of Spear Leeds and Kellogg told the Securities and Exchange Commission it had increased its preferred stock in Allegheny International Inc to 8.6 pct from 7 pct. It said it may buy additional shares but had not decided whether to offer its shares in response to a tender offer by Sunter Acquisition Corp a unit of First Boston Inc. The brokerage firm said it bought the Allegheny shares March 30-April 2 for 86.50-87.25 dlrs each. reuter | BROKERAGE FIRM UPS STAKE IN ALLEGHENY <AG> |
Barley futures closed 0.15 to 0.05 stg per tonne higher and wheat 0.60 to 0.20 firmer. Barley turnover was light at 47 lots including 24 cross transactions while the wheat volume totalled 197 lots of which 81 were self trades. Traders said wheat futures continued to trade cautiously but old crop values moved higher on short covering interest with gains in physicals influencing sentiment. Barley showed smaller gains in lighter trading. REUTER | U.K. GRAIN FUTURES CLOSE STEADY TO FIRMER |
in bushels Truck Receipts Wheat 73684 Corn 17979 Grain Sorghum 4391 Soybns 72180 Truck Shipments Corn 8000 Barge Shipments - None Reuter | KANSAS CITY SHIPMENTS AND RECEIPTS |
 KANSAS CITY ELEVATOR STOCKS In OOOs of bushels as of April 7 Today Change Yr Ago Wheat 23991 Dn 308 21214 Corn 9131 Dn 128 3951 Oats 2 Unch 12 Grain Sorghum 23085 Up 48 23370 Soybns 2557 Up 17 3701 Ttl 58767 Dn 372 52249 Reuter  | |
Stone Container Corp said it filed a registration statement for a secondary offering of 1933453 shares of its common stock. It said the shares and warrants originally were issued to Champion International Corp a holder of 1633453 shares of Stone common stock and warrants to buy an additional 300000 common shares in connection with the February 1986 acquisition by the company of a major portion of Champions Brown Papers System. Stone said it will receive 9.75 mln dlrs from underwriters as a result of their exercise of the warrants. Reuter | STONE <STO> FILES FOR SECONDARY OFFERING |
Cash easier 3months barely steady 3000 (Total 6250) about half carries tonnes cash 909.50 3months 880.00 79.00 78.50 78.00 77.50 78.00 78.50 79.00 COPPER STANDARD - Quiet 75 tonnes cash 861.00 3months nil LEAD - Steady 2900 (3250) tonnes mainly carries cash 308.00 3months 301.50 ZINC HIGH GRADE - Steady but quiet 750 (2500) tonnes mainly carries cash nil 3months nil SILVER LARGE and SILVER SMALL - Nil ALUMINIUM - Barely steady 4650 (7850) tonnes mainly carries cash nil 3months 805.50 04.00 03.50 NICKEL - quiet nil (216) tonnes mainly carries cash nil 3months nil REUTER | LME METAL PM 2ND RING VOLUMES/PAIDS - APR 7 |
 N.Y. SUGAR 11 VOL/OPEN INTEREST-APRIL 6 VOL OPEN CHANGE MAY 4618 33737 up 84 JLY 1415 19851 up 34 SEP 6 130 up 2 OCT 1334 25230 up 18 JAN 2 55 up 2 Mch 343 11256 up 113 MAY 0 58 unch JLY 51 826 up 45 Total 7769 91143 up 298  | |
 KANSAS CITY CARLOTS AS OF April 7 Shipments Receipts Today Yr Ago Today Yr Ago Wheat 133 44 52 4 Corn 143 47 16 7 Grain Sorghum 5 2 22 -- Soybns 28 37 30 7 Bran & Shorts -- -- -- -- Flour 2 2 -- -- Reuter  | |
Spot lard tallow and grease were unchanged in early trading cash dealers said. Spot Chicago centrifugal process lard in rail cars traded at 14.50 cents a lb unchanged. Edible tallow traded at 14.00 cents and inedible bleachable fancy tallow was quoted at 12.50 cents both unchanged. Choice white grease (all hog) traded at 10.50 cents unchanged. Reuter | SPOT LARD, TALLOW, GREASE STEADY |
Boeing Co <BA.N> said its Boeing Vertol helicopter unit proposed that U.K. Helicopter maker <Westland Plc> should build up to a third of all future Chinooks for Britains airforce. A Boeing statement made here said the work would involve up to 12500 man-hours per machine and solve some of Westlands short-term workload problems. It comes amid speculation that Britain may pull out of the European EH-101 project with the possibility of up to 2000 Westland job losses. Westland was rescued last year by United Technologies Corp <UTX.N> and Fiat Spa <FIAT.MI>. Reuter | BOEING PROPOSES WESTLAND DEAL |
Environmental Power Corp said it has signed a 50 year contract to sell power from its 12-megawatt Allegheny River Lock and Dam Number Seven Project near Kittanning Pa. to Allegheny Power System Inc <AYP>. The company said the project is expected to produce an average electrical output of 55 mln kilowatt hours when completed and is contingent on Environmental obtaining a Federal Energy Regulatory Commission license. The company said it has also signed a 15-year contract to sell all power to be generated by 2.6 megawatt hydroelectric project at Falls Lake Dame near Raleigh N.C. to Carolina Power and Light Co <CPL>. The average expected annual electrical output is 11 mln kilowatt hours. Reuter | ENVIRONMENTAL POWER <POWR> GETS CONTRACTS |
 LME COPPER KERBS AFT OPENING - APR 7 Copper Grade A 3months 878.00 879.00  | |
Lone Star Industries Inc expects demand for cement om the U.S. to remain in the 85-90 mln ton range through 1992 its annual report said. The company said U.S. cement consumption totaled 90.6 mln tons last year up four pct from 1985. Lone Star also said it expects consolidation and internationalization of the U.S. cement industry to continue adding foreign companies now own over 50 pct of U.S. capacity. Since 1974 it added more than 30 cement plants have closed. In our opinion the industrys annual cement capacity today is in reality less than 80 mln tons a year it added. Lone Star said the gap between supply and demand is being filled by imported cement which accounted for 18 pct of domestic consumption last year up from four pct ten years ago. Reuter | LONE STAR <LCE> SEES FLAT U.S. CEMENT DEMAND |
 ILLINOIS CASH SOYBEAN PRODUCT BASIS - APRIL 7 SPOT RAIL SOYBEAN MEAL (DLRS PER TON) 44-PCT PROTEIN - 4.00 OVER MAY ASKED - UNC DECATUR - 6.00 OVER MAY ASKED - UNC EASTERN - 5.00 OVER MAY ASKED - UNC 48-PCT PROTEIN - 20.00 OVER MAY ASKED - UNC DECATUR - 21.00 OVER MAY ASKED - UP 1.00 EASTERN - 18.00 OVER MAY ASKED - UNC SPOT RAIL SOYBEAN OIL (CENTS PER LB) CRUDE - 0.65/0.70 UNDER MAY NOMINAL - UNC UNC - UNCHANGED NC - NO COMPARISON Reuter  | |
Total U.S. aluminum stocks held by integrated and non-integrated producers and smelters including scrap ingot metal in process and finished products rose to 2470000 short tons in December from 2451000 short tons in November American Bureau Metal Statistics said. Primary production rose to 278000 tons in December from 263000 tons in November. Imports for consumption declined to 114000 tons in December from 150000 tons in November. Net shipments eased to 605000 tons in December from 608000 tons in November. Ingot shipments were 87000 tons versus 99000 tons mill products shipments were 435000 tons versus 420000 tons and casting shipments were 83000 versus 89000. Reuter | U.S. ALUMINUM STOCKS HIGHER IN DECEMBER - ABMS |
Malta is tendering to buy 3000 tonnes white sugar today for arrival in two equal parts in May and June traders said. Reuter | MALTA TENDERS FOR WHITE SUGAR TODAY - TRADE |
Calton Inc said a registration statement was declared effective by the Securities and Exchange Commission for the public offering of 2500000 shares of its common at 12-7/8 dlrs a share. Calton said the public offering began today. The offering is being underwritten by Merrill Lynch Capital Markets. Calton said it will use the net proceeds about 12.2 mln dlrs for general corporate purposes. Reuter | CALTON <CN> OFFERING DECLARED EFFECTIVE |
Chilis Inc said it filed with the Securities and Exchange Commission a registration statement covering a 35 mln dlr issue of convertible subordinated debentures. Net proceeds will be used primarily to retire outstanding bank debt Chilis said. The remainder will fund capital expenditures for additional restaurants and for general corporate purposes. The company currently operates 95 restaurants in 16 different states. Chilis named Goldman Sachs and Co and Alex Brown and Sons Inc as underwriters. Reuter | CHILI'S <CHLI> FILES FOR CONVERTIBLE DEBENTURES |
Gotthard Bank said it is selling 65000 covered warrants at 255 Swiss francs each exercisable into shares of Dainippon Ink and Chemicals Inc. Each warrant entitles the holder to buy 100 shares in the company in the period from May 15 1987 until August 13 1993 at an exercise price of 505 yen per share. The shares closed today at 700 yen. REUTER | GOTTHARD BANK SELLS WARRANTS INTO DAINIPPON INK |
FED SETS TWO-DAY SYSTEM REPURCHASES, FED SAYS |
|
<Alias Research Inc> said it entered into a four mln dlr joint venture capital investment with several firms led by <TA Associates> of Boston. Joining TA Associates are <Greylock Management Corp> and <Crownx> of Toronto Alias said. Alias which develops 3D computer graphics software said the investment capital will be used to support ongoing research and development and to extend worldwide marketing initiatives. Reuter | ALIAS RESEARCH IN CAPITAL JOINT VENTURE |
 NYSE INDEX AT 1130 208.67 UP 1.19  | |
emery Air Freight Corp said March shipments were up 19 pct to 1349000 from 1134000 a year earlier and weight was up 27 pct to 61.4 mln pounds from 48.4 mln. Reuter | EMERY AIR <EAF> MARCH SHIPMENTS RISE |
Corroon and Black Corp said it completed the acuqisition of <Contractors Planning Group Inc> in an exchange of shares. Contractors is headquartered in Garden City N.Y. and has branch offices in Philadelphia Boston and Cheshire Conn. Reuter | CORROON AND BLACK <CBL> COMPLETE ACQUISITION |
 LONDON SUGAR NON-TRANSFERABLE OPTIONS - APR 7 MTH TYPE STRIKE PRICE PREMIUM VOLUME MORNING BUSINESS Nil. AFTERNOON BUSINESS Nil.  | |
Colonial BancGroup said it and The Liberty Bank of Pensacola Fla. signed a letter of intent for Colonial to acquire Liberty. Terms of the acquisition were not dislcosed. Colonial said the acquisition was its first move toward acquiring and out-of-state bank under Alabamas regional interstate banking law. Liberty has total assets of 35 mln dlrs. Reuter | COLONIAL <CLBGA> TO ACQUIRE PENSACOLA BANK |
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