European shares closed higher on Wednesday amid corporate earnings news and ongoing turmoil in Gaza and Ukraine.» Read More
*STMicroelectronics rallies on break-up talk. LONDON, Oct 12- European blue chip shares ended the week in negative territory with weakness in commodity stocks outpacing gains in healthcare and consumer staples.
*Wells Fargo weighs on financials. The Thomson Reuters/ University of Michigan's preliminary October reading on consumer sentiment rose to 83.1, well above the 78 forecast for the index as optimism about the economy improved. Wells Fargo, the biggest U.S. home lender, dropped 2.5 percent to $34.40.
PARIS/ MILAN, Oct 12- Europe's top semiconductor maker STMicroelectronics denied planning a demerger, saying it had no plans to undo the group's "unity" in response to a report that it planned a breakup which had sent its shares up by nearly a fifth.
NEW YORK, Oct 12- U.S. stocks were poised for modest gains at the open on Friday, in the wake of sterling results from JP Morgan and data showing inflation pressure remained in check. Investors remained concerned over the prospects for corporate profit growth, in light of the tepid economies in the U.S. and Europe.
PARIS, Oct 12- Europe's top semiconductor maker STMicroelectronics on Friday responded to a report that it was mulling a corporate breakup by denying that it had any plans to undo the group's "unity".
MILAN/ PARIS, Oct 12- Shares in STMicroelectronics rallied more than 17 percent on Friday after Bloomberg reported Europe's top semiconductor maker was considering a breakup that could lead to the sale of its struggling mobile-phone chip business. Bloomberg cited Samsung Electronics as a potential buyer for STMicro's digital assets.
NEW YORK, Oct 12- STM:.
MILAN, Oct 12- Shares in Europe's top semiconductor maker STMicroelectronics rallied more than 17 percent on Friday after Bloomberg reported the company was evaluating a breakup that may lead to the sale of its struggling mobile phone chip business. The report mentioned Samsung Electronics as a potential buyer.
PARIS, Oct 12- STMicroelectronics NV:. *Company spokeswoman declines to comment after report of possible company split. *Shares rose over 17 pct after report ().
*Deutsche Bank cuts STMicro price target to 3.5 euros from 3.9 euros. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.
*Exane BNP Paribas raises STMicroelectronics NV to neutral. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.
By Olof Swahnberg STOCKHOLM, Oct 9- ST-Ericsson's owners Ericsson. A sale or break-up of the firm was not mentioned in the release, but Ericsson's head of media relations said all options were being looked at.
STOCKHOLM, Oct 9- Telecoms gear maker Ericsson. Parents Ericsson and STMicroelectronics said earlier in the day they were working with an external advisor to determine the best course for ST-Ericsson. "We are looking at all possible solutions," Ola Rembe, head of media relations for Ericsson, said.
STOCKHOLM, Oct 9- ST-Ericsson's owners Ericsson. The comments follow media reports that STM and Ericsson had engaged U.S. investment bank JP Morgan to review all strategic options, including the search for a new partner or the sale of some assets. Ericsson and STMicroelectronics said they supported ST-Ericsson in its ongoing cost cutting programme.
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