BCE takeover battle may not be over yet -report

(Reuters) - One of the losing BCE suitors, U.S. buyout firm Cerberus
Capital Management LP, has not given up its pursuit of BCE, the
newspaper reported, citing a source close to Cerberus.




"It's not over until we say it's over," it quoted the source
as saying.


Read more at Reuters.com Mergers News

Danone, EDF, Euler, GDF, Sanofi, Soitec, Trigano: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange today. Symbols are in
parentheses after company names and prices are from the last
close.

July futures on the CAC 40 Index sank 38.5 to 6032.5 at
8:19 a.m. in Paris.


Read more at Bloomberg Stocks News

European Bonds Gain for First Day in Three; Yield Falls to 4.54 Percent

(Bloomberg) -- European 10-year government bonds
advanced for the first day in three in London.

The yield on the 10-year bund fell 3 basis points to 4.54
percent by 7:05 a.m. in London, the lowest since June 27. The
yield fell 8 basis points last week.


Read more at Bloomberg Bonds News

Tomkins sells Trico Wipers for around 55 mln stg

(Reuters) - Trico manufactures integrated wiper systems for the
automotive market and generated sales in 2006 of 187.5 million
pounds with a loss before tax of 6.7 million.




Read more at Reuters.com Mergers News

Oil eases on profit-taking, higher US refinery use

(Reuters) - Oil prices slipped on Monday as traders took profits after a weekend with no supply disruptions, and looked ahead to a recovery in U.S. refinery use that may boost fuel production.

London Brent crude traded 22 cents lower at $71.19 a barrel by 0242 GMT, after gaining 89 cents on Friday. U.S. light crude eased 23 cents after a $1.11 rally on Friday to the highest settlement since August 2006.


Read more at Reuters Africa

Soybeans May Rise in Chicago as U.S. Farmers Cut Plantings; Corn May Gain

(Bloomberg) -- Soybeans may rise to a three-year
high on the Chicago Board of Trade after U.S. farmers planted
the fewest acres in 12 years. Corn may climb as livestock and
dairy producers snap up the cheapest supplies since April.

Twenty of 25 traders, farm advisers and merchants surveyed
June 29 recommended buying soybeans, and 14 said to buy corn.
Soybeans for November delivery rose 6.1 percent last week to
$8.8175 a bushel, the eighth gain in nine weeks. December corn
tumbled 8.1 percent to $3.5075 a bushel, capping a two-week
decline of 16 percent, the largest such drop since July 1997.


Read more at Bloomberg Commodities News

Bear Stearns Gets Kudos for Dismembering The Bear Market in Treasury Bonds

(Bloomberg) -- Treasury investors can thank Bear
Stearns Cos. for smothering the bear market.

Traders who cut their holdings of U.S. government debt just
a few weeks ago as retail sales increased and job growth
accelerated are now snapping up Treasuries. Demand is being
fueled by speculation that losses at hedge funds owning subprime
mortgage bonds such as those managed by New York-based Bear
Stearns and London-based Cambridge Place Investment Management
LLP will spread and slow the economy.


Read more at Bloomberg Currencies News

Australia Newcastle Thermal Coal Price Jumps to Record as Exports Fall

(Bloomberg) -- The price for power-station coal at
Australia's Newcastle, the world's largest export harbor for the
fuel, rose to a record after storms disrupted shipments.

The price of thermal coal for immediate delivery from the
port in New South Wales state rose $4.58 a metric ton to $70.88
in the week ended June 29 from a week earlier, according to the
globalCOAL NEWC Index. About 2.5 million metric tons of coal
export capacity was lost as a result of eastern Australia's worst
storm in 30 years, said the Hunter Valley Coal Chain Logistics
Team, coordinator of rail and port movements for Newcastle.


Read more at Bloomberg Commodities News

South Korea's Export Growth Accelerates, Economy May Be Picking Up Pace

(Bloomberg) -- South Korea's export growth
accelerated and the nation's finance minister said improving
overseas sales will help drive a faster expansion of Asia's
third-largest economy in the next six months.

Exports climbed 15.9 percent in June from a year earlier
after rising a revised 11.4 percent in May, the commerce
ministry said in Gwacheon. That beat the 12 percent median
estimate in a Bloomberg News survey of 11 economists.


Read more at Bloomberg Emerging Markets News

Asian Stocks Climb, Paced by Woodside, Mitsui; Mitsubishi Estate Drops

(Bloomberg) -- Asian stocks rose for a third day, led
by energy-related shares, after declining U.S. fuel stockpiles and
attempted car bombings in the U.K. lifted the price of crude oil
to a 10-month high.

Woodside Petroleum Ltd., Australia's second-largest oil
producer, advanced to its highest in a week. Mitsui & Co., a
Japanese trading company that generated almost 15 percent of last
year's revenue from energy, jumped by the most in two months.


Read more at Bloomberg Stocks News

Bank of England Likely to Lift Key Interest Rate to 5.75 Percent This Week

(Bloomberg) -- Bank of England policy makers will
probably raise the benchmark interest rate for the fifth time in a
year this week as Governor Mervyn King wins more support for an
increase to curb inflation, a survey of economists shows.

The nine-member Monetary Policy Committee will lift the Bank
Rate to 5.75 percent, the highest since April 2001, according to
53 out of 60 economists in a Bloomberg News survey. The central
bank will announce the decision at noon in London on July 5 and
release minutes of its meeting on July 18.


Read more at Bloomberg Bonds News

BNP Paribas leads French M&A league table -survey

(Reuters) - In second place was U.S. investment bank Morgan Stanley
which advised on deals worth 45.7 billion euros while
Goldman Sachs took third place.




So far this year, BNP Paribas has advised French reinsurer
Scor on its takeover of Swiss rival Converium
and also advised French insurer AGF over its buyout by
parent company Allianz .


Read more at Reuters.com Mergers News

Copper Falls in Asia as Gains on Chile Strikes Seen Overdone; Zinc Lower

(Bloomberg) -- Copper prices fell in Asia amid
speculation that gains on labor unrest at mines in Chile, the
world's largest source of the metal, may have been overdone.

At Dona Ines de Collahuasi, Chile's third-largest copper
mine, owners Xstrata Plc and Anglo American Plc exercised a right
to extend labor talks. The decision by management at the mine in
northern Chile delays the start of a possible strike to July 9
from July 3, union President Hernan Farias said June 29.


Read more at Bloomberg Commodities News

Gold, Silver Gain as Higher Oil Price May Boost Demand for Inflation Hedge

(Bloomberg) -- Gold rose for a fourth day in Asia on
speculation higher oil prices will raise demand for the precious
metal as a hedge against inflation. Silver also gained.

Gold often moves in the same direction of oil prices, which
traded near a 10-month high in New York on declining U.S. fuel
stockpiles, and concern that car bombings in the U.K. will raise
tensions. Before this year, gold has had six annual gains as oil
prices more than doubled.


Read more at Bloomberg Commodities News

UPDATE 2-Wesfarmers close to winning Coles with improved bid

(Reuters) - MELBOURNE, July 2 - Australian conglomerate
Wesfarmers Ltd. is close to buying retailer Coles
Group Ltd. after sweetening its bid to as much as
A$20.7 billion , the largest takeover in
Australian corporate history.




Wesfarmers, which owns Australia's largest hardware chain,
Bunnings, was holding talks with Coles on Monday. Trading in
the shares of both companies has been suspended until
Wednesday, unless an announcement was made sooner.


Read more at Reuters.com Mergers News

EDF, Danone, Gaz de France, Eurotunnel and Nexity: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange today. Symbols are in
parentheses after company names and prices are from the last
close.

The CAC 40 Index rose 48.62, or 0.8 percent, to close at
6054.93 on June 29. The broader SBF 120 Index gained 32.46, or
0.7 percent, to close at 4412.76.


Read more at Bloomberg Stocks News

Apple, DTE Energy, Lions Gate, Seaspan, Theravance: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Apple Inc. (AAPL US) shares rose as much as $1.62, or 1.3
percent, to $123.66 in extended trading. The U.S. debut of the
iPhone drew thousands of shoppers over the weekend, emptying most
of AT&T Inc.'s inventory and causing network glitches as the
flood of customers began activating the device. Shoppers snapped
up as many as 200,000 iPhones the first day after the device went
on sale June 29, according to Global Equities Research.


Read more at Bloomberg Stocks News

Japan's Topix Rises, Led by Mitsui, Trading Houses, on Oil, Rating Call

(Bloomberg) -- Japan's Topix index advanced, led by
trading companies such as Mitsui & Co., after the price of oil
climbed to a 10-month high and a brokerage gave the company its
most bullish recommendation.

The price of oil advanced 1.6 percent to close above $70 a
barrel last week. Mitsubishi UFJ Securities Co. initiated
coverage of Mitsui with a ``strong outperform'' rating.


Read more at Bloomberg Stocks News

Anta Share Sale Raises $405 Million, Rockets' Owner Invests, People Say

(Bloomberg) -- Anta Sports Products Ltd., China's
largest maker of athletic shoes, raised HK$3.17 billion ($405
million) in a share sale that drew Houston Rockets' owner Leslie
Alexander, two people with direct information said.

The company sold 600 million new shares, a 25 percent stake,
at HK$5.28 apiece in Hong Kong, the top end of a HK$4.28 to
HK$5.28 range, said the people, declining to be identified
before an official statement. The initial public offering values
the Jinjiang, Fujian-based company, which tripled profit last
year, at just over $1.6 billion.


Read more at Bloomberg Emerging Markets News

Aluminum May Pace LME in Second Half as Mergers, China Slash Global Supply

(Bloomberg) -- Aluminum, the worst performer on the
London Metal Exchange since 2002, has the best chance to advance
for at least the next six months.

A growing number of investors say takeovers of Alcan Inc. of
Canada and Russia's OAO Sual Group may reduce aluminum production
as China, the world's largest supplier, cuts exports. Aluminum
will be the only metal on the LME to gain for the rest of 2007,
while copper, nickel, zinc and tin decline, futures markets show.


Read more at Bloomberg Emerging Markets News

Japan's Government Bonds Advance After Treasuries Gain on Slower Inflation

(Bloomberg) -- Japanese 10-year bonds advanced for a
second day on speculation signs of cooling global inflation will
spur demand for government securities.

Benchmark bonds in Japan and the U.S. completed their first
two-week gains in more than three months on June 29, after
reports showed consumer prices in Tokyo unexpectedly fell and a
measure of inflation watched by the Federal Reserve slowed. The
Tankan, Japan's key business survey, today showed confidence
among large manufacturers was unchanged in June from March.


Read more at Bloomberg Bonds News

Asian Oil Stocks Climb, Led by Woodside Petroleum; Mitsubishi Estate Drops

(Bloomberg) -- Asian energy stocks rose, led by
Woodside Petroleum Ltd., after declining U.S. stockpiles and
attempted car bombings in the U.K. lifted the price of crude oil
to a 10-month high.

``Terror threats seem to benefit energy shares as the market
always seems to tie it back to the Middle East and risks to
supply,'' said Shane Oliver, who helps manage the equivalent of
$83 billion at AMP Capital Investors in Sydney. ``You tend to see
the oil price pushed up, benefiting shares.''


Read more at Bloomberg Stocks News

Argentine first lady to run for president

(Reuters) - The decision ends months of speculation fueled by Kirchner's public suggestions that either he or his wife, Cristina Fernandez de Kirchner, a prominent senator, would compete in the October 28 vote. Polls show either would easily win.




"Cristina will be the government candidate," the spokesman told Reuters, speaking on condition of anonymity and confirming a report first published by the daily newspaper Clarin.


Read more at Reuters.com Bonds News

Singapore's Straits Times Index Rises; SingTel, Oversea-Chinese Bank Gain

(Bloomberg) -- Singapore's benchmark stock index, the
Straits Times Index, rose 0.11 percent at 9:05 a.m.

The index of 49 companies traded on the Stock Exchange of
Singapore rose 3.82 to 3,552.02. Among the stocks in the index,
20 rose, 12 fell and 17 were unchanged.


Read more at Bloomberg Stocks News

Highlights-Japan business sentiment steady-BOJ tankan

(Reuters) - Following is a summary of details of the survey from a
briefing by a central bank official.




- The headline diffusion index for big manufacturers'
sentiment was plus 23, unchanged from the March survey and
compared with plus 25 in the December survey. The figure matched
the market's median forecast. The index for September was seen at
plus 22, showing firms expect conditions to slightly worsen over
the next three months.


Read more at Reuters.com Economic News

Ascott, ComfortDelgro, SingTel, Sky China: Singapore's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in Singapore. Stock symbols are in parentheses and prices are
from the previous market close.

The Straits Times Index added 0.3 percent to 3548.20. The
July futures contract slipped 0.3 percent.


Read more at Bloomberg Stocks News

JGB futures hit 3-wk high as tankan meets forecast

(Reuters) - "The headline figures are as expected, but there are a few
worrying points, such as current as well as future weakness in
smaller firms, and a drop in the sentiment index for the raw
materials sector," said Mari Iwashita, a fixed-income strategist
at Daiwa Securities SMBC.




The quarterly tankan survey also showed companies were still
refraining from raising prices despite rising costs, while a flat
business outlook for big companies suggested their activities are
on a plateau now, Iwashita said.
"The survey does not, however, affect the general scenario of
the economy or expectations for a Bank of Japan rate hike," she
said.


Read more at Reuters.com Bonds News

UPDATE 1-Japan business sentiment unchanged as expected

(Reuters) - The yen fell to a session low of 123.28 to the dollar
after the BOJ's quarterly tankan business sentiment survey came
largely in line with forecasts, compared with around 123.05 just
before it was released. Japanese government bond futures
hit a three-week high of 132.20, up 0.19 point.




The BOJ's closely watched tankan, meaning short-term economic
outlook, showed a headline diffusion index for big
manufacturers' sentiment of plus 23.


Read more at Reuters.com Economic News

S.Korea Samsung Heavy says wins $600 mln ship order

(Reuters) - On Friday, Samsung said it had secured a 551.4 billion won order to build a drillship for a different company in the Americas.




Read more at Reuters.com Business News

U.S. Notes Fall; 10-Year Yield Near Lowest in Three Weeks Erodes Demand

(Bloomberg) -- U.S. 10-year Treasuries fell as
yields near their lowest in three weeks curtailed demand.

The benchmark 10-year yield rose 2 basis points, or 0.2
percentage point, to 5.04 percent, according to Cantor
Fitzgerald LP. The price of the 4 1/2 percent security due in
May 2017 fell 1/8, or $1.25 per $1,000 face amount, to 95 28/32.


Read more at Bloomberg Bonds News

Euroyen futures ease after BOJ tankan meets forecasts

(Reuters) - Lead March euroyen futures eased 0.005 to 98.870
after the tankan was released.




September futures inched up to a three-week high,
rising 0.08 point to 132.09 in early trade.


Read more at Reuters.com Bonds News

Japan Machinery Stocks May Drop on Tankan Spending Plans,Led by Komatsu

(Bloomberg) -- Shares of Japanese machinery makers
such as Komatsu Ltd. may fall after capital spending plans in
the Bank of Japan's quarterly Tankan survey missed economists'
forecasts.

Companies plan to boost capital spending by 7.7 percent in
the coming year, lower than a forecast for a 9 percent increase
according to the business confidence survey published 10 minutes
before the start of trading.


Read more at Bloomberg Stocks News

Australia's Retail Sales Growth Probably Accelerated to 0.7 Percent in May

(Bloomberg) -- Australia's retail sales growth
probably accelerated in May, marking the 12th straight increase,
as job gains and rising wages buoyed spending.

Sales rose 0.7 percent after gaining 0.1 percent in April,
according to the median estimate of 24 economists surveyed by
Bloomberg News. The Bureau of Statistics will release the report
tomorrow at 11:30 a.m. in Sydney.


Read more at Bloomberg Bonds News

South Korean Manufacturers' Confidence Falls for First Time in Six Months

(Bloomberg) -- Confidence among South Korean
manufacturers about the outlook for July fell for the first time
in six months, on concerns that a rally in the local won
currency may hurt price competitiveness in overseas markets.

An index measuring sentiment among manufacturers fell to
86 from June's 91, the Bank of Korea said today in Seoul. The
sub-index for exporters of manufactured goods also fell to 90
from 96 in the same period, according to the poll of 2,929
companies. The index began in 2003 and has always had a reading
of less than 100, indicating pessimists outnumber optimists.


Read more at Bloomberg Currencies News

European automakers face rating challenge: Moody's

(Reuters) - "Moody's believes global demand for passenger cars and light vehicles should grow by 2-3 percent per annum in the long term," Falk Frey, a Moody's senior vice president, said in a report. "However, the challenges for European manufacturers to participate in this trend are immense."




The credit ratings agency said the main driver of the credit quality of European automakers in the short-to-medium term will be their dependency on Western European markets where demand is set to remain flat, leading to a continued battle for market share. French and Italian producers in particular are highly exposed to Western Europe, it said.


Read more at Reuters.com Bonds News

Australian and New Zealand Dollars Near Two-Decade Highs as Yield Appeals

(Bloomberg) -- The Australian and New Zealand
dollars rose to the highest in about two decades as the yield
premium of the nations' bonds to U.S. debt widened.

The yield spread between Australian government two-year
bonds and equivalent Treasuries moved to the widest in over two
months late last week while the yield advantage of New Zealand's
two-year notes was at a seven-week high. The U.S. currency
declined and Treasury yields fell after the International
Monetary Fund said June 29 the dollar's share of global foreign-
exchange reserves fell to the lowest in at least eight years.


Read more at Bloomberg Currencies News

U.S. Gasoline Pump Prices Likely to Keep Climbing After July Fourth Break

(Bloomberg) -- Americans taking to the highway over
the July Fourth holiday face gasoline prices that are higher
than a year ago and likely to climb further by the end of
summer.

In four of the past five years, the pump price in the U.S.
peaked in late summer or early fall, according to Energy
Department data. Below-normal fuel inventories and the
possibility that hurricanes will disrupt refineries and
pipelines may cause gasoline to top the record set last month,
when prices touched $3.227 a gallon on average nationwide.


Read more at Bloomberg Energy News

Wesfarmers set to win Coles with sweeter bid: paper

(Reuters) - At the top end of the reported range, the bid would be worth about A$20.7 billion .




The paper, which did not cite sources, also said that because of the sweeter bid, Coles was unlikely to consider a second bid for parts of its operations from rival supermarket chain Woolworths Ltd. .


Read more at Reuters.com Business News

UPDATE 2-Virgin Media seeks buyer, Carlyle bids -sources

(Reuters) - LONDON, July 1 - British cable operator Virgin
Media has appointed Goldman Sachs to seek a possible
buyer after it received approaches from various private equity
firms, people familiar with the situation said on Sunday.




Carlyle Group [CYL.UL], for one, offered in recent weeks to
buy the company, whose leading shareholder is the flamboyant
entrepreneur Richard Branson, the sources said, but they declined
to disclose the price put forward.


Read more at Reuters.com Mergers News

Gas May Rise in New York on Buying After Last Week's Decline, Survey Shows

(Bloomberg) -- Natural gas in New York may rise next
week as buyers enter the market after the August contract tumbled
7 percent from the June 22 close of $7.26 to today's close of
$6.773 per million British thermal units.

Seven of 16 traders and analysts, or 44 percent, said New
York gas futures will rise, while three others, or 19 percent,
said prices will fall, according to a survey today by Bloomberg
News. Six respondents, or 38 percent, said prices will be little
changed. The percentages may not total 100 because of rounding.


Read more at Bloomberg Energy News

Danone LU arm to meet staff amid sale talk: source

(Reuters) - The source added that LU management had informed trade
unions that the meeting would be to discuss "changes within the
biscuit division."




The meeting comes amid market speculation and press reports
that Danone might sell LU, with U.S. company Kraft Foods
seen as a likely buyer.


Read more at Reuters.com Business News

Discover may struggle after spinoff-Barron's

(Reuters) - Barron's said that Discover "shares, like its fundamentals,
are apt to come up short."




Read more at Reuters.com Mergers News

WEEKEAHEAD-Emerging debt gains at risk as liquidity dries up

(Reuters) - With many investors going on vacation in July, and with a
week shortened by the U.S. Independence Day holiday on
Wednesday, market liquidity is expected to decrease.




Volatility may increase, and analysts fear the market may
not be able to hold a positive performance if the subprime
mortgage market continues to provide material for negative
headlines.


Read more at Reuters.com Bonds News

Yen's Drop to 22-Year Low Threatens Earnings at Nissan, Canon, Mitsubishi

(Bloomberg) -- Nissan Motor Co., Canon Inc. and
Ricoh Co. say the yen's slump to a 22-year low is too much of a
good thing for Japan's exporters.

Nissan, the nation's third-biggest carmaker, can't afford
to rely on exchange rates to compete, Chief Executive Officer
Carlos Ghosn says. Canon Chairman Fujio Mitarai, head of the
country's largest business lobby, and Ricoh President Masamitsu
Sakurai, leader of the biggest executive group, said the yen's
drop is becoming a concern.


Read more at Bloomberg Currencies News

UPDATE 1-JFK terminal closed briefly, suspicious package

(Reuters) - Port authority officials said the package was being
investigated by bomb squad and other experts but the terminal
was reopened and the "all clear" given shortly after it was
evacuated, media reports said.




No information was available on what was inside the
package. The airline said flights were not delayed.


Read more at Reuters.com Bonds News

RPT-IPO-VIEW-MF Global poised for $4 billion IPO

(Reuters) - NEW YORK, July 1 - Man Group , the world's
largest listed hedge fund group, is set to stage what will
likely be the second-largest IPO on a U.S. exchange so far this
year when it spins off its U.S. brokerage arm, MF Global, this
month.




The offering could raise about $3.8 billion, putting it in
a league with Blackstone Group's high-profile $4.13
billion IPO last month. But investors are likely hoping that MF
Global's debut will not mirror the rocky entry of Blackstone
into the public markets.


Read more at Reuters.com Mergers News

Jobs, subprime mess to rule July 4 week

(Reuters) - At the same time, the potential for defaults in subprime loans to spill over to the general economy remains a concern. Nervousness that tighter credit may affect the availability of financing for buyouts prompted investors to sell banks' and brokers' shares on Friday, which helped cut short a morning rally.




In this holiday-shortened week, the most significant data, the June payrolls report, will come on Friday.


Read more at Reuters.com Hot Stocks News

Conrad Black's legal fights far from over

(Reuters) - The jury began deliberating on Wednesday on 13 counts of fraud, racketeering, obstruction, and tax violations that could imprison the 62-year-old Black for the rest of his life and drain what remains of his fortune with fines and forfeitures.




On hold until the criminal case concludes are additional lawsuits involving the Canadian-born Black, a member of Britain's House of Lords.


Read more at Reuters.com Bonds News

Israeli Bonds Rise for Fifth Day on Confidence That Shekel Will Strengthen

(Bloomberg) -- Israel's benchmark Shahar bond rose
for a fifth day as investors expressed confidence that the shekel
will strengthen against the dollar.

The Israeli currency reached a nine-year high against the
dollar in mid-May and has since slid 8 percent. It will probably
maintain its strength now or rise as the dollar weakens further
in international markets, UBS AG said.


Read more at Bloomberg Bonds News

Carlyle lines up $8bln bid for Virgin Media: report

(Reuters) - Providence Equity has also signaled its interest, it added without citing sources.




The Sunday Telegraph report follows a similar story in Saturday's edition of the Times newspaper.


Read more at Reuters.com Business News