Sorry, no Dawn Patrol this morning

Too much snow…. And US markets closed on Martin Luther King day.

European stocks were seen opening a touch higher on Monday as a political attempt to break a budget impasse in the United States revived appetite for shares, although buying momentum was subdued as a key index hovered just below 18-month highs. Republicans said the House would consider a bill to raise the U.S. debt ceiling enough to allow the country to pay its bills for another three months.

Some news below.

RICHEMONT numbers out and poor on Asia slowdown.

PIREELI may attract investors.

JPM lists high conviction shares into Q4 numbers: Positive on PHIA,NOVOB,PUB,OR,TCY,GAS,SU,SREN,ALV,PNDORA,CNA,REL,WPP,G4S

SANTANDER Spain’s Santander is considering making a 2 billion pound($3.2 billion) bid for National Australia Bank’s UK business to accelerate its British expansion, the Sunday Times reported citing unnamed sources.

BNP The French bank has agreed to spin off a fund that invests in clean energy projects, which will now be rebranded Glennmont Partners, according to the Financial Times. The fund will continue to invest the 437 million euros raised in 2010. VOLKSWAGEN VW’s Bentley unit aims to double vehicle sales to 15,000 by 2018, the unit’s head told Die Welt newspaper. Separately, Matthias Mueller’s contract as head of Porsche has been extended until 2014, he told Automobilwoche. Related news

DAIMLER Daimler Chief Executive Dieter Zetsche expects his contract to be renewed after his current term as head of the car and truck maker expires at the end of this year, he told a German newspaper.

FERROVIAL Manchester Airports Group (MAG) said on Friday it had agreed to buy London’s Stansted airport from Heathrow Airport Holdings for 1.5 billion pounds ($2.4 billion).

POSTNL A French activist investment fund, Lutetia Capital, has asked the Dutch mail group for a discussion about the firm’s strategy to create value, and says PostNL is undervalued, Dutch daily Het Financieele Dagblad reported on Monday. PostNL confirmed to the paper it has received a letter from Lutetia but declined further comment.

DEUTSCHE POST A renewal of the law covering postal services could be put into effect in the current legislative period, following a delay, Der Spiegel reports. The proposed law would require Deutsche Post to submit contracts with big customers to the federal network office to ensure there was no price dumping that could hurt competition.

EIFFAGE APRR, the toll road unit of the French construction and concessions group, said full-year revenues slightly rose as higher fees offset a decline in traffic.

RICHEMONT The luxury goods group, maker of Cartier jewellery, gave a cautious outlook on Monday after slowing wholesale demand for its pricey products pushed third-quarter sales growth below forecasts. For related news, click on

BASF The chemicals company said it and Petronas have terminated heads of agreement for a joint speciality chemicals venture. Related news

AREVA The French nuclear company said on Friday it has signed a five-year 1.25 billion euro revolving credit facility with a syndicate of 19 banks, which replaces a previous facility expiring in 2014.

E.ON The company has urged unions to return to talks and is seeking a fair compromise on wages, board member for personnel Regine Stachelhaus told Welt am Sonntag newspaper. Related news

HEIDELBERGCEMENT HeidelbergCement’s chief executive said investors hoping for big dividend hikes will have to wait while the cement maker focuses on further trimming its debt pile, a German newspaper reported. Related news

SIEMENS Siemens’ loss-making lighting unit and spin-off candidate Osram aims to post a 512 million euro ($681 million) pretax profit by 2015 thanks to tough cost cutting, a German magazine reported. Separately, the Financial Times reported that Nokia Siemens Networks (NSN) – a joint venture of Siemens and Nokia is planning to raise as much as 700 million euros from public markets in the spring.

FRAPORT The Frankfurt airport operator said more than 200 flights to and from Frankfurt had been cancelled on Sunday due to snow and ice on the ground. More flights were cancelled on Monday. Related news

EADS Chief Executive Tom Enders told Der Spiegel magazine decisions on when and where to develop aircraft in the future would be made on economic grounds and he would not tolerate interference by the German government. Related news

AIR BERLIN The company wants to cut employee salaries as part of its cost-saving effort, Focus and Der Spiegel magazines reported. Air Berlin declined to comment on the reports. Related news


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