Sanofi silent on possible Bristol-Myers bid

(Reuters) - "We don't comment on this," head of finance Jean-Claude Leroy told analysts in a post-results conference call.

There were widespread rumours earlier this year that a bid for the U.S. company, which has a market value of close to $60 billion, could be immiment -- though speculation has since cooled.


Read more at Reuters.com Mergers News

Rand Advances as Rallying Stock Markets, Commodities Boost Investor Flows

(Bloomberg) -- The South African rand gained for a third day, its best performance in almost a month, as rising global stocks persuaded investors to reduce their aversion to risk and boosted demand for commodities.

Foreign investors have bought 24.3 billion rand ($3.5 billion) more of South African stocks than they've sold this year, helping to boost demand for the currency. The rand has also benefited as gold and platinum, which account for about a fifth of exports in Africa's largest economy, have risen.


Read more at Bloomberg Currencies News

UPDATE 1-Starbucks, Ethiopia reach licensing agreement

(Reuters) - Ethiopia, which prides itself as the birthplace of coffee, has been in dispute with Starbucks, saying the U.S. coffee shop chain had tried to block Africa's biggest producer from trademarking its best-known beans: Sidamo and Harar.

In theory, trademark agreements could bolster incomes for Ethiopia's farmers by allowing the country to negotiate purchasing conditions for coffee roasters or retailers that want to use the names.


Read more at Reuters.com Government Filings News

LME copper near $8,000/tonne, data, strike support

(Reuters) - Copper prices firmed on Wednesday, flirting with $8,000 a tonnes, with sentiment supported by positive data, threats to supply and the possibility investors may use a week-long holiday in China to drive prices higher.

Copper for delivery in three months on the London Metal Exchange was at $7,965 a tonne at 0354 GMT, up $15 from the previous close, when it peaked at $8,030.


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Rand firms, buoyed by weaker yen

(Reuters) - South Africa's rand headed back towards recent highs against the dollar on Thursday despite the greenback's own gains overseas, riding mainly on a weaker yen, which had boosted sentiment towards higher yielding currencies.

At 0647 GMT, the rand was at 6.98 against the dollar, a gain of 0.6 percent from its Wednesday New York close of 7.02/dollar, and within sight of the 6.9325/dollar level it visited last week -- its strongest level since January 3.


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Barloworld forms Caterpillar joint venture in Congo

(Reuters) - Barloworld and Tractafric Equipment of the Democratic Republic of Congo (DRC), have set up a joint venture to supply earth moving equipment in Congo's copper and cobalt rich Katanga Province.

The pairing of South African industrial conglomerate Barloworld's equipment division with Tractafric would be known as Congo Equipment, Barloworld said on Thursday, and has been formed on the basis of an agreement between Caterpillar and the two firms to sell its products in Katanga Province.


Read more at Reuters Africa

Spar sees H1 earnings 25-30 pct higher

(Reuters) - South African food retailer Spar Group said it expects earnings per share and headline earnings per share for the six months to end-March to be 25-30 percent higher than for the same previous year period.

The increase in earnings is attributable to Spar's strong retail performance and buoyant market conditions experienced during the period, it said in a statement on Thursday.


Read more at Reuters Africa