European Stocks May Rise; BHP Billiton, Total, Cadbury, Lloyds May Gain

(Bloomberg) -- European stocks may advance for a
third day, led by BHP Billiton Ltd. and Total SA as metal prices
rose and oil traded near a 10-month high.

Cadbury Schweppes Plc might increase. Coca-Cola Co., the
world's largest soft-drink maker, may consider making a bid for
its Snapple fruit-beverage unit. Lloyds TSB Group Plc may climb
after Citigroup Inc. recommended buying shares of the U.K.'s
biggest provider of personal loans.


Read more at Bloomberg Stocks News

U.K. Pound May Hold Near 26-Year High on Bets BOE Will Raise Interest Rate

(Bloomberg) -- The pound may hold near a 26-year high
against the dollar on speculation the Bank of England will lift
interest rates today and signal further increases are needed to
curb inflation.

The U.K. currency climbed to $2.0207 yesterday, the highest
since June 1981, and has held above $2 for the past five days.
BOE policy makers will increase their interest rate a quarter
percentage point to a six-year high of 5.75 percent today,
according to 53 of 60 economists surveyed by Bloomberg News.


Read more at Bloomberg Currencies News

Oil hovers near 10-month high ahead of stock data

(Reuters) - Oil held steady around $73 a barrel after briefly marking a new 10-month high on Thursday, as dealers waited for weekly U.S. oil inventory data expected to show little change in crude or fuel stocks.

London Brent crude currently seen as more representative of global oil prices, eased 6 cents to $72.99 a barrel at 0604 GMT, after having traded as high as $73.32, the highest front-month price since late August.


Read more at Reuters Africa

Gold Little Changed in Asia Amid Dollar Slump, Oil Gains; Silver Declines

(Bloomberg) -- Gold was little changed in Asia amid
demand from investors for an alternative to the weakening dollar
and for a hedge against inflation as oil prices trade near a 10-
month high. Silver declined.

Gold has gained almost 2 percent in the past week as the
dollar-priced metal has become cheaper to investors holding
other currencies. The dollar traded near a record low against
the euro today and near the lowest in 26 years versus the
British pound on prospects for higher European interest rates.


Read more at Bloomberg Commodities News

PRESS DIGEST - Wall Street Journal - July 5

(Reuters) - * General Motor's June sales dropped 21 percent as
Japanese car makers increased their share of the U.S. market,
helped in part by the weak yen.




* Coca-Cola Co. has approached several
private-equity firms involved in bidding for Cadbury
Schweppes's U.S. drinks business about buying
Cadbury's Snapple and Mott's brands.


Read more at Reuters.com Mergers News

Dreyfus Greater China Fund Shuns Mainland, Hang Seng, to Post Top Returns

(Bloomberg) -- Hugh Simon and Nina Wu are producing
the best returns from Asia for mutual-fund investors by buying
the smallest stocks in Hong Kong and shunning mainland China,
the region's most expensive market.

The $1 billion Dreyfus Premier Greater China Fund's
holdings are less than a 10th the size of those on Hong Kong's
Hang Seng Index. They trade at 16 times estimated earnings,
compared with the average multiple of 42 for stocks on the CSI
300 Index, China's benchmark.


Read more at Bloomberg Emerging Markets News

European Government Bonds May Decline on View ECB Will Signal Higher Rates

(Bloomberg) -- European government bonds may fall on
speculation European Central Bank President Jean-Claude Trichet
will signal further interest-rate increases after policy makers
conclude their monthly meeting.

While all 42 economists surveyed by Bloomberg News forecast
the Frankfurt-based ECB will hold borrowing costs at 4 percent
today, futures trading shows investors are raising bets the key
rate will reach 4.5 percent by year-end. Yields on Europe's
benchmark bund have risen 10 basis points this week.


Read more at Bloomberg Bonds News

Indonesia Rupiah Falls Before Today's Interest-Rate Decision; Cut Forecast

(Bloomberg) -- Indonesia's rupiah fell on speculation
the central bank will cut interest rates today, making currency
deposits less attractive.

The rupiah has dropped 2.5 percent this month, the biggest
decline among the 10 most-active Asian currencies, on bets Bank
Indonesia will lower borrowing costs for a 13th time since May
2006. The nation's benchmark rate of 8.5 percent compares with
5.25 percent in the U.S. and 7.50 percent in the Philippines.


Read more at Bloomberg Currencies News

TREASURIES-Fall in Asia as market returns from holiday

(Reuters) - The weekend attack on Glasgow airport and thwarted car
bombings in London had raised concerns about security on the
other side of the Atlantic.




Such worries sparked buying of safe-haven government bonds,
helping push 10-year Treasury yields to fall below 5 percent on
Monday for the first time since early June.


Read more at Reuters.com Bonds News

Agrana, Enel, Fiat, NCC, Skanska, Stolt-Nielsen: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 climbed 0.5 percent to 397.5. The
Dow Jones Stoxx 50 Index increased 0.3 percent to 3976.11. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, advanced 0.3 percent to 4524.24.


Read more at Bloomberg Stocks News

Argentine, Chilean Peso, Peru's Sol, Brazil Real: Latin 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: Consumer prices likely rose 0.6 percent in
June after increasing 0.4 percent the previous month, according
to the median of nine estimates in a Bloomberg News survey.
Annual inflation probably accelerated to 8.9 percent last month
from 8.8 percent in May, the survey shows. Argentina's national
statistics institute will publish the report at 3 p.m. New York
time.


Read more at Bloomberg Currencies News

China's CSI 300 Index Slides to Lowest in a Month; Sinopec, Baoshan Drop

(Bloomberg) -- China's stocks fell to the lowest in
a month as new share sales heightened concern that funds will be
will drained from existing equities and a state agency called on
policy makers to take action to damp short-term speculation.

China Petroleum & Chemical Corp. and Baoshan Iron & Steel
Co. were among the biggest contributors to today's decline.


Read more at Bloomberg Stocks News

Copper Rises to One-Month High on Chile, Falling Stockpiles; Zinc Gains

(Bloomberg) -- Copper prices rose in Asia to a one-
month high on concern labor disputes in Chile, the world's
largest source of the metal, may disrupt supplies and further
deplete global stockpiles. Zinc was also higher.

Inventories monitored by the London Metal Exchange dropped
for a seventh straight day, by 1,650 metric tons to 110,375 tons,
the exchange said yesterday. Contract workers at Dona Ines de
Collahuasi, Chile's third-largest copper mine, plan to strike on
July 9 after they found an improved wage offer too low.


Read more at Bloomberg Commodities News

Japanese Shares Climb, Led by Sony, Sending Nikkei 225 to Seven-Year High

(Bloomberg) -- Japanese shares rose for a sixth day,
sending the Nikkei 225 Stock Average to it highest in seven
years. Sony Corp. led gains on speculation the yen's slump
against the dollar and euro boosted profits in the three months
ended June.

Retailers climbed, led by Seven & I Holdings Co., after
companies including Aeon Mall Co. reported higher income in the
first quarter.


Read more at Bloomberg Stocks News

Steel Partners to lift stake in Japan's Tenryu Saw

(Reuters) - Unsolicited tender offers are rare in Japan as the large
number of shares owned in companies by creditor banks and
business partners makes such an undertaking extremely difficult.




Steel Partners, Tenryu's largest shareholder, offered 4,945
yen for each of the common shares it did not already own. Tenryu
Saw shares closed at 4,940 yen on Wednesday when the bid expired.


Read more at Reuters.com Mergers News

Minsheng Bank Forecasts Profit to Surge More Than 60 Percent in First Half

(Bloomberg) -- China Minsheng Banking Corp., the
nation's first privately owned bank, said first-half profit
surged more than 60 percent as it extended more loans and demand
for services such as wealth management increased.

The bank, in a statement to the Shanghai exchange, didn't
provide a figure for first-half profit and said its growth
estimate was based on unaudited numbers. Minsheng posted a profit
of 1.73 billion yuan ($228 million) in last year's first half.


Read more at Bloomberg Emerging Markets News

Western Mining Raises $816 Million in Shanghai at Top of IPO Price Range

(Bloomberg) -- Western Mining Co., a Chinese
producer of zinc, copper and lead, raised 6.2 billion yuan
($816.4 million) from an initial public offering in Shanghai to
raise funds for expansion and pay debt.

The company, based in Xining, Qinghai, sold 460 million new
shares at 13.48 yuan each, it said in a statement today. That's
the top end of the 12 yuan to 13.48 yuan range given July 2. UBS
AG's joint venture in China, UBS Securities Co., arranged the
sale, the first in China for Europe's biggest bank by assets.


Read more at Bloomberg Emerging Markets News

Oil & Natural Gas Corp. Offers 35,000 Tons of Naphtha for August Loading

(Bloomberg) -- Oil & Natural Gas Corp., India's
largest oil and gas producer, offered 35,000 metric tons of
naphtha for loading in August, the company said in an offer
document e-mailed to Bloomberg News.

Details of the refiner's offer are as follows:


Read more at Bloomberg Energy News

JGBs slip on fall in euro zone bonds, Nikkei rise

(Reuters) - "JGBs opened a bit lower since Bunds fell and are extending
their losses since the Nikkei is rising," said a senior trader
for a major Japanese bank.




September 10-year JGB futures fell 0.15 point to 131.75
as of 0054 GMT, pulling away from a three-week high of
132.23 hit on Monday.


Read more at Reuters.com Bonds News

South Korean Stocks Gain, Led by Samsung, Chipmakers; Kangwon Land Plunges

(Bloomberg) -- South Korean stocks advanced for a
fourth day. Samsung Electronics Co. gained on speculation prices
for dynamic random access memory, or DRAM, will rise, helping
improve profit.

Kangwon Land Inc. tumbled by the most in more than four
years after the nearby city of Pyeongchang failed in its bid to
host the 2014 Winter Olympics.


Read more at Bloomberg Stocks News

Ajaz Rahim, Pakistani Banker, Denies Charges in U.S. of Insider Trading

(Bloomberg) -- Pakistani investment banker Ajaz Rahim,
indicted on July 3 by a U.S. grand jury, denied that he traded
shares of TXU Corp. and other companies with inside information
and said his lawyers will contest the case.

Rahim, 44, dismissed allegations he conspired with former
Credit Suisse banker Hafiz Muhammad Zubair Naseem to make illegal
trades, operated a brokerage account for his fellow Pakistani
national or exchanged e-mails with him about U.S. stocks.


Read more at Bloomberg Stocks News

South Korean Stocks Gain; Led by Samsung Electronics, Daewoo Shipbuilding

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.09 percent at 9:05 a.m.

The index of 731 companies traded on the Korea Exchange rose
1.63 to 1,840.04. Among the stocks in the index, 315 rose, 200
fell and 216 were unchanged.


Read more at Bloomberg Stocks News

Investors Shun `Falling Knife' of Once-Booming European Real Estate Stocks

(Bloomberg) -- Rising interest rates and declining
profits from real estate are pushing investors to ditch European
property stocks after a four-year rally.

The Bloomberg Europe Real Estate Index just completed its
worst quarter in a decade and the stocks are still expensive
compared with European averages. Robert Parkes, who advises
pension fund managers as a strategist at HSBC Holdings Plc, said
the stocks have further to decline.


Read more at Bloomberg Stocks News

U.S. Treasuries Fall After European Bonds Decline on Interest Rate Concern

(Bloomberg) -- U.S. 10-year Treasury notes dropped
after Europe's government bonds slid for a second day yesterday
on speculation the European Central Bank will keep increasing
interest rates from a six-year high.

The yield on the benchmark 10-year note rose 2 basis points
to 5.06 percent as of 7:56 a.m. in Singapore, according to bond
broker Cantor Fitzgerald LP. The price of the 4 1/2 percent
security due in May 2017 fell 5/32, or $1.56 per $1,000 face
amount, to 95 21/32. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Ayala Land, Dah Sing, Indofood, Manila Water: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Ayala Corp. (AC PM): ARCH Capital Management Co. Ltd. said
the private equity fund set up by Ayala Corp. and its unit Ayala
Land (ALI PM) to invest in property markets in Asia outside
Japan and the Philippines has raised $294 million. Ayala Corp.,
the fourth-largest Philippine company by market value and which
has a stake in ARCH Capital, rose 15 pesos, or 2.7 percent, to
565 pesos.


Read more at Bloomberg Stocks News

Algeria's Oil Minister Says Crude to Rise to $72, OPEC Won't Cut Output

(Bloomberg) -- Algeria's Oil Minister Chakib Khelil
said he expects oil prices to rise to $72 a barrel as consumption
increases over the summer months and said OPEC won't cut
production at its forthcoming meeting.

``The increasing demand for refined products will lead to
more tension on refineries and crude oil,'' Khelil said to
reporters in Algiers today.


Read more at Bloomberg Energy News

India, Indonesia, Malaysia, Sri Lanka, Taiwan: Asian Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence Asian local-currency bonds today. Yields
are from the previous session.

China: The nation should ``strictly control'' an asset
bubble in the stock market to ease short-term speculation, an
affiliate of the nation's top planning agency said yesterday.
The absence of a capital gains tax on equity investments has
made short-term trading more attractive than holding stocks over
a longer period and made it the main model for most Chinese
investors, the State Information Center said.


Read more at Bloomberg Bonds News

ECB May Keep Key Rate at 4 Percent, Wait Until September to Raise Again

(Bloomberg) -- The European Central Bank will
probably keep interest rates unchanged, preferring to wait for
confirmation that economic growth is fanning inflation before
raising borrowing costs again, a survey of economists shows.

Policy makers meeting in Frankfurt today will keep the
benchmark refinancing rate at 4 percent, according to all 42
economists in a Bloomberg News survey. The bank will raise the
rate to 4.25 percent in September, a separate survey shows.


Read more at Bloomberg Currencies News

Japanese Yen, Malaysian Ringgit, Philippine Peso: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Anchor Resources, BHP Billiton, Rio, Zambezi: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed yesterday. Prices are from
yesterday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in September added
0.1 percent to 6318 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index rose 0.9 percent in New York.


Read more at Bloomberg Stocks News

Ecuador plans to divide energy ministry in two

(Reuters) - "In coming days, this chaotic ministry ... will be
reformed and divided into the petroleum and mines ministry and
an electricity ministry," Correa told reporters.




Some market analysts had speculated that Ecuador was going
to create a separate mining ministry to better cope with the
sector and growing violence in communities involved in mining
activities.


Read more at Reuters.com Bonds News

Colombia Inflation-Linked Bonds Fall on Outlook for Slower Consumer Prices

(Bloomberg) -- Colombia's inflation-linked peso
bonds fell to their lowest in almost a year on expectations
cooling inflation will hurt returns on the securities.

Colombia's annual inflation rate slowed to 6.03 percent
last month, compared with 6.23 percent in May, a government
report showed on July 1. The central bank targets inflation
between 3.5 percent and 4.5 percent this year.


Read more at Bloomberg Bonds News

Hilton Stock, Options Trading Surged Before Blackstone Takeover Announced

(Bloomberg) -- Hilton Hotels Corp. shares rose the
most since the end of 2005 before the second-largest U.S. hotel
chain announced its agreement to be acquired by New York-based
Blackstone Group LP for about $20 billion in cash.

Shares of Hilton climbed $2.18, or 6.4 percent, to $36.05
yesterday in New York Stock Exchange composite trading.
Blackstone, the world's biggest publicly traded buyout firm, will
pay $47.50 a share for Beverly Hills, California-based Hilton.


Read more at Bloomberg Exclusive News

Canadian Telephone, Materials Stocks Gain on Heightened M&A Speculation

(Bloomberg) -- Canadian telephone and materials
stocks including Telus Corp. advanced for a second day after
takeover speculation was fanned this week by the acquisitions of
BCE Inc. and Aur Resources Inc.

Energy producers such as EnCana Corp. fell on declining
natural-gas prices, while financial companies including Bank of
Nova Scotia retreated on concern that the Bank of Canada may
raise borrowing costs next week.


Read more at Bloomberg Stocks News

FACTBOX- How private equity firms KKR, Blackstone stack up

(Reuters) - HISTORY:




Blackstone:


Read more at Reuters.com Business News

Yamana may have to fight for Meridian -analysts

(Reuters) - Speaking a day after Meridian said Yamana's unsolicited
proposal "does not reflect the value" of the company, analysts
also said rival bids could be a possibility, as gold companies
rush to add reserves and production.




Yamana announced last week it had struck a deal to acquire
small-cap gold player Northern Orion Resources and
that the two would team up to bid for Meridian for about C$3.1
billion in cash and stock.


Read more at Reuters.com Mergers News

Cereal, Oilseed, Sugar Prices Will Be Supported by Biofuel Use, OECD Says

(Bloomberg) -- Cereal, oilseed and sugar prices will
stay close to current levels over the next decade because of
surging demand from biofuel producers, the Organization for
Economic Co-operation and a United Nations agency said.

Ethanol production from corn is forecast to double between
2006 and 2016 in the U.S., the Paris-based OECD and the Food and
Agriculture Organization said today in a report. The output of
biodiesel made from oilseeds in Europe and ethanol from sugar in
Brazil will also soar, they said.


Read more at Bloomberg Commodities News

Mexico's Bolsa Gains on Outlook for Tax Legislation: Latin American Stocks

(Bloomberg) -- Mexico's Bolsa index rose for a sixth
day as prospects improved for the passage of a tax measure that
could spur government spending on infrastructure and energy.

The benchmark Bolsa index advanced 62.16, or 0.2 percent, to
32,179.99 as of 12:19 p.m. in New York, led by Grupo Elektra SA,
Mexico's biggest electronics retailer.


Read more at Bloomberg Stocks News

S.African shares creep higher, Implats jumps

(Reuters) - South African shares inched higher on Wednesday in thin trading as Impala Platinum gained amid talk of sector consolidation.

The Top-40 blue chip index gained 0.35 percent to 26,082.29 points while the broader All-Share index added 0.31 percent to 28,844.31 points.


Read more at Reuters Africa

Dickson to head Canada's financial regulator

(Reuters) - She was appointed as the acting head of the OSFI in
October, replacing Nick Le Pan, who retired.




Before that she was the deputy superintendent at the OSFI,
which is the primary regulator and supervisor of the country's
banks, insurance companies and private pension funds.


Read more at Reuters.com Government Filings News

Spain's CNE approves Enel/Acciona bid for Endesa

(Reuters) - The 12 conditions included keeping Endesa as a separate brand, managed and run from Spain and honouring its investment plans.



)


Read more at Reuters.com Mergers News

S.Africa unions declare wage dispute with Exxaro

(Reuters) - South African trade unions said on Wednesday they had declared a dispute over wages with diversifed miner Exxaro, after the company made a final wage offer of an 8 percent increase.

The unions, Solidarity, the National Union of Mineworkers and the National Union of Metal Workers of South Africa declared the dispute, the first legal step towards going on strike.


Read more at Reuters Africa

Canadian Stocks Gain for Third Day; Telus Rises on Buyout Speculation

(Bloomberg) -- Canadian stocks rose for a third day
on speculation that Telus Corp. may seek to top a buyout offer
accepted last week by BCE Inc. from the Ontario Teachers' Pension
Plan.

Gains in the market were limited by Research In Motion Ltd.,
whose shares declined after reaching a record yesterday.


Read more at Bloomberg Stocks News

Canada's Dollar Advances on Speculation Interest Rates Will Keep Rising

(Bloomberg) -- Canada's dollar rose to within a cent
of a 30-year high versus its U.S. counterpart on speculation the
Bank of Canada will keep raising its interest rates.

The Canadian currency has climbed 10 percent this year as
higher crude prices, which have risen 17 percent in the same
period, boost the nation's growth. Commodities including oil make
up about half of Canada's exports. The currency may extend gains
before a report tomorrow that's forecast to show Canadian
building permits rose last month.


Read more at Bloomberg Currencies News

BR Malls, Eletropaulo, Petrobras, Telemar: Brazil Equity Market Movers

(Bloomberg) -- Brazil's main stock index rose for a
sixth day, led by mobile-phone company Tele Norte Leste
Participacoes SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 169.22, or 0.3 percent, to a record 55,868.91 as
of 9:57 a.m. New York time.


Read more at Bloomberg Stocks News

BCE rating could fall over 6 notches -S&P

(Reuters) - However, if enough equity is contributed to achieve initial
leverage of under 7 times and further reductions in debt were
expected in the medium-term, the rating would likely be at the
mid-to-low end of the BB category, the agency said.




BCE said on Saturday its board recommended shareholders
accept a C$42.75 a share offer from a consortium including the
Ontario Teachers Pension Plan, Teachers Private Capital,
Providence Equity Partners Inc. and Madison Dearborn Partners,
LLC.


Read more at Reuters.com Bonds News

Train runs double on Africa's "Lunatic Express" line

(Reuters) - Twice as many trains are now running on Kenya and Uganda's railway network, but it may take two years before customers see a major improvement in services, a consultant said on Wednesday.

The east African countries handed over their struggling rail operations to Rift Valley Railways in November. The private South African-led consortium hopes to transform the dilapidated 110-year-old railways into a major artery for regional trade.


Read more at Reuters Africa

Data deluge leaves bets for higher UK rates intact

(Reuters) - Mortgage lender Halifax said house prices rose 0.4 percent in June, taking the annual three-month rate to 10.7 percent.




That was slightly below forecasts but stronger than in May, suggesting the housing market is still weathering the last four interest rate rises reasonably well.


Read more at Reuters.com Business News

Lead Rises to Record for a Third Day Amid Supply Disruption; Copper Climbs

(Bloomberg) -- Lead climbed to a record for a third
consecutive day in London on speculation that supply disruptions
and slowing production of the metal in China, the world's
largest producer, will curb output. Copper and aluminum gained.

Production growth of refined metal in China has slowed this
year because of a dearth of lead concentrate, a raw material
that is smelted into metal, Standard Bank Group Ltd. said in a
report. The shortage has been exacerbated by a stoppage at
Ivernia Inc.'s Australian mine, which halted deliveries in March
following a lead-poisoning investigation, the bank said.


Read more at Bloomberg Commodities News

UPDATE 1-Brazil's industrial output rises 1.3 pct in May

(Reuters) - The median forecast from 22 economists in a Reuters poll
was for output to rise 0.4 percent. The forecasts ranged from a
0.3 percent decline in output to an increase of 1.4 percent.




Industrial output rose 4.9 percent from a year earlier
, the IBGE said.


Read more at Reuters.com Economic News