0988633992

Qantas Airways, Foster's, Technip: Credit-Default Swap Movers
nhi 0988633992

By Jennifer Ryan
Nov. 24 (Bloomberg) -- The following is a list of companies whose credit-default swap prices are changing today. Symbols are in parentheses after company names. All credit-default swap prices are as of 2:00 p.m. in London.
The perception of European credit quality as measured by the iTraxx Crossover Index fell today. A credit-default swap based on a 10 million-euro ($13 million) contract on the index, which includes 45 companies with investment-grade and non- investment grade ratings, rose to 241,500 euros, or 1.9 percent, from 237,000 euros according to data compiled by JPMorgan Chase & Co. The index moves an average of about 1.5 percent a day.
Companies in the Crossover Index have more than $80 billion of bonds outstanding. All prices below are based on a contract size of 10 million euros.
Qantas Airways Ltd. {CQTAS1U5 CBIL GP } rose after Macquarie Bank Ltd., which may bid for the airline, said any firm proposal will adhere to rules that majority Australian ownership of the Sydney-based carrier remains. Qantas said it received a ``confidential and incomplete'' takeover approach from Macquarie and Texas Pacific Group. The cost of credit- default swaps based on Qantas bonds rose to $93,000 from $62,000 yesterday, according to Deutsche Bank AG data.
Foster's Group Ltd. {CFBG1U5 CBIL GP }, the Australian beverage-maker, rose after the Herald Sun newspaper reported Inbev NV, the Belgium maker of Beck's beer, is considering a bid. The cost of credit-default swaps based on Foster's debt rose to $54,000 from $47,000, according to Deutsche Bank.
Technip SA {CTEC1E5 CBIL GP }, Europe's second- largest oil-services company, fell after La Tribune reported that Rome-based oil exploration company ENI SpA may bid for the Paris-based company. The cost of credit-default swaps based on Technip debt fell to 17,000 euros at about 7:50 a.m., from 22,000 euros yesterday, according to Deutsche Bank. The cost of a contract was quoted at 23,000 euros after 12:00 p.m., with no trades reported.