0814 GMT [Dow Jones] Xstrata (XTA.LN) restarts its share buyback program after failed bid for WMC Resources (WMC), as expected, says analyst. Shares rebound after a hammering Wednesday and because a "few people are noticing their buyback, but there's nothing new to trumpet," analyst says. Says Xstrata's project pipeline is weak and the company needs to grow by acquisition, but after loosing out on the WMC deal, "anything they buy now will be deemed second," to that. Trades +2.3% to 935p. (JZR)
0950 [Dow Jones] In attempt to hurry up instos on WMC (WMR.AU) register, BHP (BHP.AU) follows other blue chip bidder Foster's (FGL.AU) and establishes acceptance facility. Will also pay broker handling fee to brokers who get retail investors to accept A$7.85/share cash bid. FGL did same in bid for Southcorp (SRP.AU), speeding up process, with drinks group now easily above 50% level and making bid unconditional. San Miguel doing same in bid for National Foods (NFD.AU). (IGP)
