Elan Q1 loss doubled but MS drug keeps on track

(Reuters) - DUBLIN, April 24 - Drug-maker Elan Corp posted a wider-than-expected first-quarter loss on Tuesday after repaying debt but said it was on track to meet full-year goals thanks to a new multiple sclerosis treatment.

"The net loss increased, mainly due to a charge in respect of the early retirement of debt this quarter and the inclusion of a gain on the sale of EU rights to Prialt in 2006," Chief Financial Officer Shane Cooke said in a statement.


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Altech full-year profit up 10 pct

(Reuters) - South African technology firm Allied Technologies (Altech) lifted full-year headline earnings per share by 10 percent and said on Tuesday it expected real growth in the current year.

Altech said headline EPS -- the key profit measure for South African firms, which excludes non-trading, capital and certain extraordinary items -- rose to 418 cents, while revenue increased 12 percent to 6.8 billion rand.


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European Bonds Gain for Second Day; 10-Year Yield Falls to 4.15 Percent

(Bloomberg) -- European 10-year government bonds advanced for a second day in London.

The yield on the benchmark 10-year German bund fell 3 basis points to 4.15 by 8:16 a.m. in London, near its lowest in a week. The price of the 3.75 percent bond due January 2017 rose 0.19, or 1.9 euros per 1,000 euro ($1,358) face amount, to 96.85. Bond yields move inversely to prices.


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European Stocks Including AstraZeneca, Alcatel Drop; STM Shares Advance

(Bloomberg) -- European stocks including AstraZeneca Plc and Siemens AG declined. Brokerages lowered their recommendations on the companies' shares.

Alcatel-Lucent, the world's largest maker of telecommunications equipment, retreated after posting an operating loss. STMicroelectronics NV paced gains by chipmakers after Texas Instruments Inc. forecast earnings that beat analysts' estimates. Yell Group Plc tumbled 15 percent after the publisher of Britain's Yellow Pages phone books said its U.S. revenue growth will slow this year.


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Vale Restarts Talks With China's Baosteel on $4 Billion Steel Slab Plant

(Bloomberg) -- Cia. Vale do Rio Doce, the world's largest iron ore exporter, restarted talks with Baosteel Group Corp. on a steel slab plant in Brazil that may cost as much as $4 billion after a pro-industry party won a state election.

Baosteel, China's biggest steelmaker, will provide 80 to 90 percent of the funding for the $3 billion to $4 billion proposed plant in Maranhao province, Pedro Gutemberg, director of ferrous technology at Vale, said today in an interview in Beijing.


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AB Foods to open more Spanish stores, no plans to float

(Reuters) - "Primark's success comes because of ABF, not in spite of it. We have no plan to float it off," said Chief Executive George Weston in an interview after first-half results.




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Alcatel Lucent Q1 prelim sales 3.9 bln euros

(Reuters) - The unaudited figure compares with a market consensus forecast of some 4.05 billion euros held by Reuters Estimates.

The recently merged French-American telecoms equipment group said it expected to post an adjusted operating loss of some 260 million euros in the first quarter, half of which would be attributed to significant items.


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