12052016Mon
Last update: Mon, 05 Dec 2016 07pm

Company News: World

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S&P Global Ratings unexpectedly raised its outlook on Poland's sovereign credit rating to stable from negative on Friday, saying it was no longer worried that the government would try to undermine the independence of the central bank.
Russia's flagship carrier Aeroflot said Wednesday its net profit had grown nearly seven-fold in the third quarter despite an economic crisis that has battered the Russian aviation industry. The majority state-controlled company said it had earned a net profit of 41.2 billion rubles ($630 million) between July and September. Total revenue rose 18 percent to 157.5 billion rubles.
Alpha Bank, Greece's fourth-largest lender by assets, turned profitable in the third quarter after booking lower provisions for impaired loans. Alpha, 11 percent owned by the national bank rescue fund HFSF after its recapitalisation late last year, on Wednesday reported net profit of 41.2 million euros ($44 million) after a loss of 16.8 million euros in the second quarter.
Azul Linhas Aereas Brasileiras SA, Brazil's No 3 airline, is close to filing for regulatory clearance to launch an initial public offering after failed efforts to list shares in recent years, according to two people familiar with the plans. A listing could take place in the first two months of 2017, according to one of the people, who asked for anonymity to speak freely about the plan. Brazilian weekly magazine Exame reported Azul's IPO plans late last month.
Biotech stocks still have room to rise after the election of Donald Trump as US president, which removed threats of drug price controls that had pushed shares to historically cheap levels this year, a top portfolio manager for Janus said on Wednesday.
Glencore third quarter zinc production rose 13 percent from the previous quarter, the first time quarterly output has increased since the group announced sweeping mine suspensions to boost prices, a production report showed on Thursday. Some metal investors have worried that the reversal of Glencore's output cuts would dampen a rally in zinc, the top performer among base metals with gains of over 50 percent so far this year.
Bank of Cyprus, the east Mediterranean island's largest lender, said on Tuesday it would apply for a listing on the London Stock Exchange as part of its restructuring drive. "We are delighted to be applying for a listing on the London Stock Exchange, which marks another significant step in the bank's transformation," said BoC chairman Josef Ackermann in a statement.