U.S. Stocks Rally After Measure of Consumer Prices Slows; Intel Advances

(Bloomberg) -- U.S. stocks rallied for a third day
after a measure of consumer prices increased less than forecast
in May, easing inflation concern.

Intel Corp., Home Depot Inc. and General Motors Corp. led
the advance. Nymex Holdings Inc. surged after two people
familiar with the discussions said the largest energy market is
exploring a sale.


Read more at Bloomberg Stocks News

REFILE-UPDATE 1-US sees April net capital inflow of $111.8 bln

(Reuters) - NEW YORK, June 15 - International investors
bought a net $111.8 billion in U.S. securities in April, up
from a $30.1 billion in March, although purchases of U.S.
Treasury bonds fell to a year low, a government report said on
Friday.




Net April long-term capital inflows, excluding swaps, rose
to $84.1 billion from $51.2 billion in March, the U.S. Treasury
Department said.


Read more at Reuters.com Economic News

S.Africa maize flat, seen range-bound as eyes Chicago

(Reuters) - South Africa's most-active maize futures closed steady on Friday after being on the back foot for most of the session, and the market was likely to be range-bound next week, traders said.

July white maize was at 1,831 rand a tonne by the market close at 1000 GMT. Prices dipped to 1,816 rand earlier due to a stronger rand, traders said.


Read more at Reuters Africa

GLOBAL MARKETS-Tame core U.S. inflation boosts stocks, bonds

(Reuters) - Economists polled by Reuters had expected consumer prices to
have increased 0.6 percent in May after a 0.4 percent rise in
April and core prices to have risen by 0.2 percent.




U.S. stock index futures jumped, suggesting a bullish start
on Wall Street. European stocks added gains with the
FTSEurofirst 300 closing in on 1 percent.


Read more at Reuters.com Bonds News

Higher yields not bad for stability-ECB's Papademos

(Reuters) - Releasing the ECB's latest financial stability report,
Papademos said he did not think higher inflation expectations
played a major role in higher long-term bond yields.




Investors' concerns that central banks around the world will
keep rates higher for longer than previously thought have
sparked a rout on bond markets in recent weeks. U.S. 10-year
Treasury yields have gained more than half a
percentage point since the beginning of May, hitting a near
five-year peak of 5.25 percent last week.


Read more at Reuters.com Bonds News

US Q1 current account widens to $192.6 bln

(Reuters) - The department also significantly lowered its estimate of
the 2006 current account gap to $811.5 billion, from $856.7
billion previously reported. It also lowered its estimate of
the current account deficit for other years dating back to
2001, while raising estimates for the years 1997 through 2000.




The department said the revisions reflected newly available
source data and a methodological change.


Read more at Reuters.com Economic News

UPDATE 1-US Q1 current account widens to $192.6 bln

(Reuters) - The Commerce Department previously pegged the
fourth-quarter current account deficit at $195.8 billion. The
midpoint estimate of analysts surveyed before Friday's report
was for the current account deficit to widen to $201.0
billion.




The department also significantly lowered its estimate of
the 2006 current account gap to $811.5 billion, from $856.7
billion previously reported. It also lowered its estimate of
the current account deficit for other years dating back to
2001, while raising estimates for the years 1997 through 2000.


Read more at Reuters.com Economic News

Treasuries Advance as Measure of Consumer Prices Rises Less Than Forecast

(Bloomberg) -- Treasuries rose as a measure of
consumer prices rose less than forecast last month, damping
speculation the Federal Reserve will lift interest rates later
this year.

Consumer prices, excluding food and energy, increased 0.1
percent in May, after climbing 0.2 percent in April, government
data showed. The reading compared with the 0.2 percent increase
that was the median forecast in a Bloomberg News survey.


Read more at Bloomberg Bonds News

Bombardier, First Quantum and Western Oil Sands: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets
today. This preview includes news that broke after markets closed
yesterday. Symbols are in parentheses after company names and
prices are from the last close.

The Standard & Poor's/TSX Composite Index added 142.47, or 1
percent, to 14,001.99, yesterday in Toronto. The Canadian benchmark
is headed for a 1.5 percent weekly gain, rebounding from a 2.3
percent drop in the previous week.


Read more at Bloomberg Stocks News

Canada's Dollar Gains Most in 2 Weeks on Interest-Rate Outlook, M&A Inflow

(Bloomberg) -- The Canadian dollar rose the most in
two weeks on expectations that higher interest rates and mergers
and acquisitions inflows will support the currency.

``The Canadian dollar is well bid, and will probably
continue to do very well in the short term,'' said Firas Askari,
head of trading at BMO Capital Market in Toronto. According to
BMO estimates, companies would need about C$12 billion to C$13
billion by the middle of next month to fund their acquisitions.


Read more at Bloomberg Currencies News

Financial conditions amplify policy: Bernanke

(Reuters) - Bernanke did not discuss the outlook for the U.S. economy or interest rates in his speech, which was prepared for delivery to a conference hosted by the Atlanta Federal Reserve Bank in Atlanta. The text was distributed in Washington.




Changes in financial conditions, such as tightening credit standards or sudden declines in asset values, are important in the propagation of the business cycle, Bernanke said.


Read more at Reuters.com Bonds News

TREASURIES-Bonds gain on lower than expected core CPI

(Reuters) - The benchmark 10-year note was trading 5/32
higher in price for a yield of 5.20 percent from 5.23 late on
Thursday, while the two-year note _was flat in price
for a yield of 5.10 percent.




Read more at Reuters.com Bonds News

May consumer prices up 0.7 pct, core prices tame

(Reuters) - The muted core price rise was likely to reassure financial markets that price gains remain tame, notwithstanding Federal Reserve officials' warning that they still see a danger from potential inflationary pressures. "Although core inflation seems likely to moderate gradually over time, the risks to this forecast remain to the upside," Fed Chairman Ben Bernanke told a monetary policy conference last week.




The department said core prices have risen 2.1 percent on a seasonally adjusted annual rate during the first five months this year, compared with a 2.6 percent rise for all of 2006.


Read more at Reuters.com Business News

Abbas names Fayyad new Palestinian PM -officials

(Reuters) - Fayyad is considered a moderate who has good connections
with Western governments.




Read more at Reuters.com Bonds News

U.K. Natural Gas Prices Gain on Forecast of Cooler Weather, Lower Imports

(Bloomberg) -- U.K. natural-gas prices rose after
weather forecasters predicted rain throughout the country next
week, which may increase heating demand, and a pipeline to mainland
Europe reversed direction to take gas out of Britain.

Gas for delivery a week ahead at the National Balancing Point,
the U.K. trading hub, rose 0.7 percent to 20.75 pence a therm as of
11:31 a.m. in London, according to broker ICAP Plc. That equals
$4.09 per million British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

Winnebago profit down, misses Wall Street target

(Reuters) - Analysts, on average, expected the manufacturer of motor homes to report a profit of 49 cents per share on sales of $248.21 million, according to Reuters Estimates.




Winnebago said the revenue increase was due to higher sales of Class A motor home deliveries. However, gross profit for the third quarter was hurt by an increase in sales of lower-margin motor homes in both Class A and Class C categories, as well as escalating materials and labor costs.


Read more at Reuters.com Business News

US STOCKS-Futures rise on Intel upgrade; CPI on tap

(Reuters) - NEW YORK, June 15 - U.S. stock futures signaled a
higher open on Friday, with technology shares likely to
underpin gains after a broker upgrade of Intel Corp. ,
but investors were cautious ahead of key U.S. inflation data.




Intel shares jumped 2 percent in electronic trade after
Goldman Sachs raised its rating on the chipmaker, a component
of the Dow Jones industrial average , to "buy" from
"neutral."


Read more at Reuters.com Bonds News

East Africa budgets tackle infrastructure, poverty

(Reuters) - Observers broadly welcomed east Africa's three budgets on Friday, saying they all tackled priority areas like infrastructure and poverty alleviation.

Kenya, Uganda and Tanzania's finance ministers unveiled their 2007/08 programmes on Thursday with all of them proposing to increase social expenditure.


Read more at Reuters Africa

US STOCKS-Futures point higher on Intel, CPI looms

(Reuters) - Intel shares rose 1.8 percent to $23.64 in electronic trade
after Goldman Sachs raised its rating on the chipmaker, a
component of the Dow Jones industrial average , to "buy"
from "neutral."




Investors will scrutinize a report on the May U.S. Consumer
Price Index due before the bell for further direction.


Read more at Reuters.com Bonds News

NYMEX explores sale of company: report

(Reuters) - Banks have not yet been hired to advise the company on the sale, the report said. A NYMEX response is not mentioned in the report, which cited two people involved in the discussions.




Buying NYMEX would allow a traditional cash equities exchange to add products such as energy derivatives to the trading mix it can offer its clients. It trades contracts including crude oil, heating oil and gasoline futures.


Read more at Reuters.com Business News

Taiwan Stocks Reach Six-Year High, Led by Insurers: World's Biggest Mover

(Bloomberg) -- Taiwan's stocks rose to a six-year
high, posting the biggest fluctuation among markets included in
global benchmarks. Cathay Financial Holding Co. led insurers
higher after lawmakers approved a bill allowing them to invest
more of their assets overseas.

``Parliament's decision gives more room for Taiwan insurers
to maximize profitability by investing globally,'' said Yin Nai-
yun, who oversees $172 million at Prudential Securities
Investment Trust Enterprise in Taipei.


Read more at Bloomberg Stocks News

UPDATE1-Pros Holdings sees IPO priced at $10-$12/shr

(Reuters) - JPMorgan, Deutsche Bank Securities, Jefferies & Company and
Thomas Weisel Partners LLC will underwrite the IPO, according
to the filing.




The selling stockholders have granted the underwriters an
option to purchase up to an additional 1.02 million shares.


Read more at Reuters.com Government Filings News

Russian Stocks Upgraded to `Equal Weight' by Morgan Stanley Strategists

(Bloomberg) -- Investors should buy Russian stocks
such as OAO Mobile TeleSystems because the equity market has
dropped to a level that's ``more appropriate given high
political and corporate-governance risk,'' Morgan Stanley said.

Strategists led by Jonathan Garner, London-based head of
global emerging-markets strategy, raised their recommendation on
Russian stocks to ``equal weight'' from ``underweight,'' which
means that investors should hold the country's shares in line
with the country's weighting in international indexes.


Read more at Bloomberg Stocks News

Platinum Falls in London as Higher Rates May Slow Demand; Palladium Drops

(Bloomberg) -- Platinum fell for a fourth successive
day in London on speculation rising borrowing costs in Europe
will slow demand from car manufacturers. Palladium also dropped.

Europe was the biggest user of platinum last year, dominated
by demand from manufacturers of auto catalysts to reduce
pollution, according to London-based manufacturer Johnson Matthey
Plc. The European Central Bank, the Swiss National Bank and the
Bank of England have raised interest rates this year.


Read more at Bloomberg Commodities News

EADS Needs to Offer Russia `Serious' Cooperation Agreements, Ivanov Says

(Bloomberg) -- European Aeronautic, Defense & Space
Co., the parent company of Airbus SAS, isn't yet offering Russia
a satisfactory role to meet aerospace-industry cooperation
pledges, First Deputy Prime Minister Sergei Ivanov said.

``If we talk about a strategic partnership here, we have to
have serious agreements and have a clear prospect'' of joint work
backed by officials in EADS's home markets of France and Germany,
Ivanov said in an interview June 13 at his Moscow office.


Read more at Bloomberg Emerging Markets News

Degussa, Sainsbury Bond Risk Rises: European Credit-Default Swap Movers

(Bloomberg) -- The risk of owning European
corporate bonds fell, according to traders in the credit-default
swaps market.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index fell 1,000 euros
to 202,000 euros at 8:50 a.m. in London, according to JPMorgan
Chase & Co.


Read more at Bloomberg Bonds News

Pros Holdings sees IPO of about 6.83 mln shares at $10-$12 each

(Reuters) - The Houston, Texas-based company said it applied for a New
York Stock Exchange listing under the symbol "PRO."







Read more at Reuters.com Bonds News

S. African Rand Headed for Weekly Gain on Outlook for Rates, Credit Rating

(Bloomberg) -- South Africa's rand headed for its
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.

The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.


Read more at Bloomberg Currencies News

Nordic Third-Quarter Power Falls From Four-Month High; Next-Year Declines

(Bloomberg) -- Nordic third-quarter power prices
dropped from a four-month high. Next-year power also fell,
tracking lower carbon-emissions costs.

Electricity for the third quarter, the most-traded contract
in the region, lost 0.8 percent to 29.55 euros ($39.35) a
megawatt-hour at 10:36 a.m. Oslo time. Yesterday the contract
advanced to 29.80 euros, the highest since Feb. 7.


Read more at Bloomberg Energy News

Copper Declines in London as China Says Imports Fell; Nickel, Zinc Drop

(Bloomberg) -- Copper declined in London, snapping
two days of gains, as inventory and import data from China, the
largest user of the metal, indicated rising supply and slowing
demand growth. Nickel, zinc and other industrial metals dropped.

China's imports of copper and copper alloy fell 32 percent
in May from the previous month to 129,949 metric tons, the
Beijing-based customs office said today. That's the largest
decline since October 2005. Deliverable stockpiles monitored by
the Shanghai Futures Exchange jumped 6.4 percent this week to a
three-year high, the exchange said.


Read more at Bloomberg Commodities News

U.K. Power Rises on Forecast Spare Capacity to Fall; French Imports Likely

(Bloomberg) -- U.K. power for delivery on the next
working day rose as forecasts showed a likely decline in spare
capacity that may mean more-expensive generation is required to
meet demand.

U.K. working-day-ahead baseload power increased 11 percent to
24.60 pounds ($48.46) a megawatt hour, according to prices on
Bloomberg from the energy broker GFI Group Inc. The last traded
price yesterday for power delivered today was 22.25 pounds a
megawatt hour.


Read more at Bloomberg Energy News

Malaysian Palm Oil May Average 54 Percent Higher This Year, OSK Forecasts

(Bloomberg) -- Palm oil futures in Malaysia, trader
of the benchmark contract, may average 54 percent higher this
year because of demand led by China for the world's most
consumed vegetable oil, according to OSK Research Sdn.

The futures may average 2,400 ringgit ($694) a ton this
year, Alvin Tai, an analyst at OSK, said today. This compares
with an average of 1,559 ringgit last year. He raised his
forecast by 12 percent from an earlier estimate of 2,150 ringgit.


Read more at Bloomberg Commodities News

Nordic Stocks Increase, Led by Ericsson, Nokia; Shares of M-real Rally

(Bloomberg) -- Nordic stocks rose for a third day.
Nokia Oyj, the world's largest mobile-phone maker, paced gains.
Ericsson AB, the world's biggest maker of wireless phone
networks, also climbed.

M-real Oyj rallied after Morgan Stanley said Finland's
third-largest papermaker was its ``top pick'' in the industry.


Read more at Bloomberg Stocks News

Japan's Bonds Drop for Fourth Week on Outlook for Stronger Growth, Prices

(Bloomberg) -- Japan's 10-year government bonds
fell for a fourth week, the longest losing streak since October,
as global debt markets slid on the outlook inflation will
accelerate.

The difference in yield between two- and 10-year bonds
widened yesterday to the biggest gap since February after a
slump in Treasuries pushed U.S. yields close to a five-year high.
Japan's bonds also dropped after a government report earlier
this week showed the economy grew faster than initially
estimated, led by consumer spending and stronger-than-expected
business investment.


Read more at Bloomberg Bonds News

Cadbury faces second salmonella prosecution

(Reuters) - The council is prosecuting Cadbury under the General Food
Regulations and the Food Hygiene Regulations for, amongst other
things, failing to immediately alert authorities it had reason
to believe some of its chocolate was infected with salmonella.




In addition, Herefordshire Council announced on Friday it
is to prosecute Cadbury over the same alleged offence which
occurred in 2006. Cadbury faces the possibility of unlimited
fines from both court cases in Birmingham and Herefordshire.


Read more at Reuters.com Business News

GLOBAL MARKETS-Stocks, bond yields rise; yen weak after BOJ

(Reuters) - LONDON, June 15 - Global stocks rose on Friday,
absorbing further gains in U.S. and euro zone government bond
yields ahead of U.S. inflation data, while the yen sank after
the Bank of Japan left interest rates on hold.




Energy stocks outperformed after oil spiked above $71 a
barrel overnight and merger and acquisition speculation buoyed
British retailers after a Qatari investment fund increased its
stake in J. Sainsbury , sending its shares up 5 percent.


Read more at Reuters.com Economic News

Banks, retailers boost European shares

(Reuters) - European shares rose in early trade on Friday, pushed up by financial and resource shares as the oil price soared back above $71 a barrel, while investors waited for key U.S. inflation data due later in the day.

The DJ Stoxx European retail index gained 1 percent led by J. Sainsbury which added 4.5 percent, after a Qatari group increased its stake in the supermarket to a quarter.


Read more at Reuters Africa

China Shares Have Biggest Weekly Jump in Two Months; Daqin Railway Surges

(Bloomberg) -- China's stocks rose, capping the
biggest weekly gain in two months, as savings rates that trail
inflation prompt investors to switch funds in to equities.

Investors opened 328,624 accounts at brokerages on June 13,
the highest daily tally since June 1, according to China
Securities Depository & Clearing Corp. Daqin Railway Co. and
Anhui Tongdu Copper Stock Co. were among 15 stocks that surged
more than 20 percent this week.


Read more at Bloomberg Stocks News

Japan 'risks backlash' on foreign investment -U.S.

(Reuters) - "Japan should make efforts to increase its inward flow of
foreign direct investment, particularly in mergers and
acquisitions," U.S. Ambassador Thomas Schieffer told an audience
of diplomats and business executives in Tokyo.




He said it was difficult to understand the anxiety of many
Japanese about an increased economic presence for America in
Japan.


Read more at Reuters.com Mergers News

Philippine Bonds Climb as Treasury May Cap Yields: World's Biggest Mover

(Bloomberg) -- Philippine bonds rose, the biggest
fluctuation of any government debt market today, on speculation
the Bureau of the Treasury won't allow yields to increase at a
debt sale next week. The peso strengthened.

Ten-year bonds gained the most in almost seven months as
the market anticipated the Treasury will cap interest-rate
increases at the auction of September 2016 notes on June 19. The
Treasury, which last week spurned all bids at a sale of four-
year debt, will sell 5 billion pesos ($108 million) of the
securities at the auction.


Read more at Bloomberg Bonds News

Philippine Remittances Increase at the Fastest Pace in 4 Months in March

(Bloomberg) -- Remittances from Filipinos working
abroad rose in April at the fastest pace in four months as more
people found jobs overseas.

Money sent back to the Philippines rose 32.6 percent from a
year earlier to $1.2 billion, the central bank said in a
statement in Manila today. That's the fastest pace since
December and follows a 26.4 percent gain in March.


Read more at Bloomberg Emerging Markets News

JGB futures gain in evening trade after Fukui

(Reuters) - The lead contract closed the regular session at 131.30
, up 0.18 point on the day.




Read more at Reuters.com Bonds News

European Stocks Rise for Third Day; Sainsbury, Tesco Pace the Advance

(Bloomberg) -- European stocks advanced for a third
day after Delta (Two) Ltd. bought shares in J Sainsbury Plc,
lifting retail companies including Tesco Plc.

Axa SA, Europe's second-largest insurer, and bank UniCredit
SpA gained.


Read more at Bloomberg Stocks News

Oil Trades Near Nine-Month High on U.S. Refinery Slowdowns, Iran Concern

(Bloomberg) -- Crude oil traded near a nine-month
high in New York after a drop in U.S. refining raised concern
that fuel supplies may remain below average.

Maintenance at refineries last week cut processing rates to
a six-week low, prompting oil companies to produce less diesel
and heating oil in an effort to boost gasoline stockpiles. Oil
also rose after Iran, the second-largest producer in the
Organization of Petroleum Exporting Countries, rejected United
Nations demands to suspend its uranium enrichment.


Read more at Bloomberg Energy News

Sumitomo takes stake in Canadian metals company

(Reuters) - Augusta is currently conducting a feasibility study at the
Rosemont copper project about 50 km southeast of Tucson, Arizona,
which holds deposits of copper, silver and molybdenum -- a rare
metal typically used in car parts and consumer electronic
products.




Sumitomo, the third-biggest trading company in Japan, said in
a statement that it aims to build up a long-term partnership with
Augusta for the development of the Rosemont project.


Read more at Reuters.com Mergers News

Brazilian Real, Chilean, Argentine Pesos: Latin American Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American currencies
today. Exchange rates are from the previous session.

Argentine peso: The economy grew 8 percent in the first
quarter from a year earlier, the national statistics agency said
yesterday.


Read more at Bloomberg Currencies News

Nigerian Intercontinental Bank raises $706 mln

(Reuters) - Nigeria's Intercontinental Bank Plc has raised 90 billion naira from a hugely oversubscribed public offering of shares, the bank said on Thursday.

The bank gave no explanation for the 9-month delay in announcing the results of the offering, comprising a rights issue and two public offers, which took place in September.


Read more at Reuters Africa

Chinese investment quickens, fuels tightening talk

(Reuters) - Fixed investment in urban areas rose 25.9 percent from a year earlier, picking up from 25.5 percent growth in the January-April period, the National Bureau of Statistics said on Friday.




The median forecast of economists polled by Reuters was for a rise of 25.7 percent, although a government source familiar with the data had said it would be 25.9 percent.


Read more at Reuters.com Business News

PRESS DIGEST - New York Times front page - June 15

(Reuters) - Masked Hamas gunmen took control of the Gaza Strip and the
Fatah president dissolved the 3-month-old unity government.




---


Read more at Reuters.com Bonds News