Monday's Market -- The Morning View From Europe

by: Dealing Floor

From DealingFloor:


- BP, Unilever, Glaxo to Report Higher Earnings on Exports, Dollar Strength
- Ryanair Third-Quarter Profit Unexpectedly Declines as Fuel Costs Increase
- Bank of England Likely to Keep Benchmark Rate at 4.5 Percent, Survey Shows
- German Industrial Production Probably Increased on Exports, Survey Shows


- Earnings reports of note: Akzo Nobel, BP and KPN.

- Volkswagen, Google and Nvidia are working on a 3D car navigation map system which will have topography and search functionality not available in the market today.

- Mobile phones companies may be forced by EU regulators to cut roaming charges. The EU communications commissioner will likely propose tomorrow that phone companies charge similar roaming fees for international and national calls. The commission will also persue complaints against Vodfone, T-Mobile and O2 for allegedly abusing a dominant market position. The commission can fine companies as much as 10% of annual sales worldwide for breaking competition rules.

- Gus Plc’s Experian Information Solutions unit may receive a bid of GBP 6b from two buyout firms according to The Sunday Times.

- BNP Paribas bids EUR 9b for Banca Nazionales del Lavoro (BNL). The offer is 1.8x BNL’s book value.

- Spain’s largest gas supplier, Gas Natural SDG won approval to take over Endesa for EUR 22.4b with restrictions that will protect competition.

- Unilever may sell its frozen food unit to private equity firms Blackstone and Capvest for EUR 2bn acoording The Independent. Unilever said it doesn’t comment on speculation.

- U.K. real estate companies may be active after Morgan Stanley lowered its ratings on Land Securities Group Plc and British Land Co. to “equal-weight'’ from “overweight.'’

- GlaxoSmithKline Plc may bid as much as $11 billion to acquire Serono SA, Europe’s largest biotechnology company, the Sunday Times reported, citing an unidentified executive. Serono also reports Q4 figures today.