Australian Dollar Trades Near 18-Year High as Prices of Commodities Gain

(Bloomberg) -- The Australian dollar traded near an
18-year high against the U.S. currency and the most in 16 years
versus the yen as prices rose for the metals the country exports.

The local dollar is the second-best performer among the 16
most traded currencies in the past five years as commodity
prices have surged. Exports of raw materials such as copper and
gold contribute about 14 percent to Australia's gross domestic
product. A measure of six metals traded on the London Metal
Exchange yesterday gained 0.5 percent to a one-month high.


Read more at Bloomberg Currencies News

Slim's Telecom Companies Face New Antitrust Inquiry in Mexico; Shares Fall

(Bloomberg) -- Carlos Slim, who vies with Bill Gates
as the world's richest man, may face increased scrutiny at home
as Mexican antitrust regulators step up efforts to curb the
dominance of the telephone companies that created his fortune.

Mexico's Federal Competition Commission wants to identify
markets where Telefonos de Mexico SAB and America Movil SAB have
a share large enough that would require special regulation to
encourage new entrants, commission president Eduardo Perez Motta
said. The probe will begin before the end of the year, he said.


Read more at Bloomberg Emerging Markets News

Alcoa, Dow Chemical, GameStop and TJX: U.S. Equity Option Market Movers

(Bloomberg) -- The following is a list of companies
with unusual option trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Option trading is
as of 6 p.m. in New York, while stock prices are as of 4 p.m.

Each call option gives investors the right to buy 100 shares
of a company at a certain price, called the strike price, by a
given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

ING's Garcia Seeks `Unpopular' Stocks for Biggest Philippine Equity Fund

(Bloomberg) -- Paul Joseph Garcia runs the largest
equity fund in the Philippines, where the market is so small that
the value of stocks bought and sold in a day, $83 million, is
only 5 percent that of Microsoft Corp.'s turnover.

He has to be careful his trades don't influence share
prices, since big orders have a disproportionate effect in a
thinly traded market, Garcia said. His 6.7 billion-peso ($146
million) Philippine Equity Fund is twice as large as the
country's No. 2 fund. It also can be hard to find buyers or
sellers for large purchases.


Read more at Bloomberg Stocks News

Premium Brands pays C$84 mln for meat distributor

(Reuters) - On the Toronto Stock Exchange, Premium Brands units were
halted at C$12.36 -- up 2.6 percent from the previous session's
close -- while the news was released.




A portion of the deal price was used to pay out all of
Centennial's non-trade related debt, Richmond, British
Columbia-based Premium Brands said.


Read more at Reuters.com Mergers News

UPDATE 1-Chile retailers agree to $138 mln Peru joint venture

(Reuters) - In statements to the Chilean stock exchange, they said
Malls Peru, a unit of Falabella, and Padebest Peru, a unit of
Ripley, would each have a 40 percent stake in the tie-up.




The remaining 20 percent would be held by a subsidiary of
another Chilean retailer, Plaza Oeste, owned by Mall Plaza.


Read more at Reuters.com Market News

Akamai Technologies Will Replace Biomet in the S&P 500 Index, S&P Says

(Bloomberg) -- Akamai Technologies Inc., whose
software speeds the delivery of Internet data, will replace
Biomet Inc. in the Standard & Poor's 500 Index, S&P said today
in a statement posted on its Web site.

Biomet agreed in June to an $11.4 billion takeover offer
from buyout firms including Blackstone Group LP and the private-
equity arm of Goldman Sachs Group Inc. The change will take
place after the close of trading on July 11, S&P said.


Read more at Bloomberg Stocks News

Alcoa Q2 profit slips; extends Alcan offer

(Reuters) - Alcoa also extended its $28.6 billion offer to acquire Canadian rival Alcan Inc by a month. The offer, which has been rejected by Alcan, was due to expire on Tuesday.




Alcoa said earnings from continuing operations were $716 million, or 81 cents per share, compared with $749 million, or 85 cents per share, in the same quarter of last year. Revenue rose to $8.1 billion from $7.8 billion.


Read more at Reuters.com Business News

Weyerhaeuser sells Oregon plywood mill

(Reuters) - The Springfield facility has been closed since December
2006 due to market conditions. It employed 87 people and had
the capacity to produce 114,000 million square feet of 3/8-inch
plywood annually, Weyerhaeuser said in a statement.





Read more at Reuters.com Mergers News

Hub Group terminates agreement to acquire Interdom Partners

(Reuters) - On June 6, Hub Group had said it agreed to acquire the
assets of Interdom for about $26 million in cash.





Read more at Reuters.com Mergers News

Mexico's Bolsa Falls on Telephone Antitrust Probe: Peruvian Miners Advance

(Bloomberg) -- Mexico's main stock index fell,
retreating from a record, after regulators vowed to step up efforts
to curb the dominance of phone companies in the country.

Mexico's Bolsa index dropped 323.59, or 1 percent, to
32088.25, led by America Movil SAB. America Movil, Latin America's
largest mobile phone company, fell 1.17 pesos, or 3.3 percent, the
most since April 30, to 34.40 pesos. Telefonos de Mexico SAB, the
country's largest fixed-line company, fell 5.3 percent, the most
since December, 2000.


Read more at Bloomberg Stocks News

Venezuela Bolivar Advances as Government Plans to Sell Local Currency Debt

(Bloomberg) -- Venezuela's currency strengthened in
unregulated trading as the government said it will sell bonds to
local investors and slow spending in an attempt to drain cash
from the economy and reduce demand for dollars.

Finance Minister Rodrigo Cabezas said yesterday Venezuela
plans to sell $2.8 billion of dollar and bolivar bonds in the
second half of the year. Cabezas also said the government will
use ``fiscal responsibility'' to lower the amount of money in
circulation and slow inflation.


Read more at Bloomberg Currencies News

US STOCKS-Buybacks, earnings forecasts buoy indexes

(Reuters) - NEW YORK, July 9 - U.S. stocks rose on Monday on
growing optimism about second-quarter earnings and plans by
Johnson & Johnson and ConocoPhillips to buy
back their own shares.




J&J gained 1 percent after the health-care company
announced plans for a $10 billion share buyback.
ConocoPhillips, which nearly quadrupled its repurchase plan to
$15 billon, rose 3.7 percent.


Read more at Reuters.com Bonds News

Shareholders approve CME's buy of CBOT

(Reuters) - Separate votes at each exchange returned an "overwhelming" majority in favor of CME's purchase of CBOT, a package worth about $11.9 billion, exchange officials said citing preliminary results.




A vote that once looked like it might be a toss-up, given a higher competing bid for CBOT from IntercontinentalExchange Inc. , turned into a landslide.


Read more at Reuters.com Business News

UPDATE 1-Cheesecake Factory says Q2 revenue rises 15.7 pct

(Reuters) - Shares of the restaurant chain operator rose more than 4
percent to $26.43 in late electronic trade, after closing at
$25.36 on the Nasdaq.




Total revenue rose to $373.2 million from $322.6 million a
year ago, the company said in a statement. Analysts were
expecting $370.9 million, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-Mexico's Walmex net rises, cost cuts lift revenue

(Reuters) - Walmex , a unit of No. 1 global retailer
Wal-Mart Stores Inc. , said it earned 2.971 billion
pesos in the April-June period, compared with
2.774 billion pesos in the same period a year earlier.




Quarterly revenue came in at 51.089 billion pesos, up 9
percent from 47.048 billion pesos in the same period of 2006.


Read more at Reuters.com Market News

UPDATE 4-LaBranche may consider sale of company -- source

(Reuters) - NEW YORK, July 9 - LaBranche & Co. Inc. ,
which runs one of the largest equity specialist traders on the
New York Stock Exchange floor, may consider selling all or part
of itself to salvage its floor-trading business, a person
familiar with the matter said on Monday.




LaBranche may also consider going private, the source
said.


Read more at Reuters.com Bonds News

Hedge funds have small June gains - tracking firms

(Reuters) - The Standard & Poor's 500 index slipped 1.8 percent last
month while the Dow Jones Industrial Average slipped 1.6
percent.




Hedge funds gained 2.45 percent in May, 1.78 percent in
April and 1.09 percent in March, the Hennessee Group said.


Read more at Reuters.com Bonds News

Darden's same-store sales rose in June

(Reuters) - At the Italian-themed Olive Garden, sales at restaurants open at least 16 months rose 3 percent to 4 percent for the five weeks ended July 1. At Red Lobster, a seafood chain, same-store sales rose 6 percent to 7 percent.



) Keywords: DARDEN SALES/


Read more at Reuters.com Market News

Asian Stocks Rise in U.S. Trading; BHP Billiton Advances on Metal Prices

(Bloomberg) -- Asian stocks rose in U.S. trading as
mining shares including BHP Billiton followed copper and other
metal prices higher.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, added 0.8 percent to
173.07, the seventh gain in eight sessions.


Read more at Bloomberg Stocks News

Brinker, CytRx, Cummins, KBR, Lexmark, SanDisk: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

Alnylam Pharmaceuticals Inc. (ALNY US) rose $7.92, or 52
percent, to $23.12. Roche Holding AG (ROG VX), the world's
biggest maker of cancer medicines, may pay as much as $1 billion
for rights to Alnylam technology that may allow the companies to
find new tumor, liver and breathing treatments.


Read more at Bloomberg Stocks News

Gold ends up, lifted by oil surge, dollar drift

(Reuters) - Most-active gold for August delivery on the COMEX division of the New York Mercantile Exchange settled with $7.70 gains at $662.50 an ounce. It set a higher range from $657.80 and $666.0 an ounce, a level last seen on June 7.




At its session top, August gold reached higher than in three prior attempts to break resistance at $666.0 an ounce. But some traders noted that its retreat from that level in a thin market may leave in doubt its resilience at that level.


Read more at Reuters.com Hot Stocks News

Orange Juice Falls in New York on Florida Rain, Decreased Hurricane Threat

(Bloomberg) -- Orange-juice futures dropped as rain
fell and the threat of damaging hurricanes diminished in Florida,
the world's second-biggest grower.

Rain in Florida's growing regions is aiding fruit growth
even as more moisture is needed, according to Meteorlogix LLC of
Woburn, Massachusetts. Weather conditions won't be ideal for
hurricane development for at least two weeks, said James Cordier,
president of Liberty Trading Group in Tampa, Florida.


Read more at Bloomberg Commodities News

UPDATE 2-Starwood,Accor discuss $4 bln Dubai project -report

(Reuters) - "There's no deal at the moment, beyond that we don't
comment on rumors and speculation," said Starwood spokeswoman
KC Kavanagh.




Accor declined to comment on the report, which said the
complex would be in the new Dubai World Trade Centre
district.


Read more at Reuters.com Bonds News

J&J, ConocoPhillips Add $25 Billion to This Year's Record Pace of Buybacks

(Bloomberg) -- Johnson & Johnson and ConocoPhillips
today announced plans to repurchase a combined $25 billion of
stock, adding to this year's record pace of U.S. share buybacks.

J&J, the world's largest maker of health-care products, will
use a combination of cash and debt to fund a $10 billion
repurchase program, the company's largest. ConocoPhillips, the
third-biggest U.S. oil producer, plans to buy back as much as $15
billion of its shares.


Read more at Bloomberg Stocks News

LaBranche may consider selling company -- source

(Reuters) - LaBranche may also consider going private to fix its specialist business, the source said.




The news sent LaBranche shares up more than 5 percent.


Read more at Reuters.com Mergers News

UPDATE 1-General Growth buys out portfolio partner

(Reuters) - General Growth said the purchase would not change its
previously projection of 2007 core funds from operations of
$3.25 per share to $3.27 per share.




Chicago-based General Growth said it funded the purchase
primarily through a $750 million bank loan, which includes
amortization of fees. The loan bears interest at LIBOR plus 1.4
percent. The acquisition also includes the assumption of about
$1.05 billion of existing mortgage debt.



Read more at Reuters.com Mergers News

Coffee Falls in New York as Warm Weather Reduces Threat of Frost in Brazil

(Bloomberg) -- Coffee declined for the fifth straight
session in New York as forecasts for warm, dry weather eased
concerns that frost would damage the crop in Brazil, the world's
largest producer.

Temperatures in Brazil's coffee-growing areas are expected
to be near to above normal, with lows around 55 degrees
Fahrenheit (13 degrees Celsius), according to Meteorlogix LLC in
Woburn, Massachusetts. A ridge of high pressure over northern
Argentina is expected to move across southern Brazil this week,
posing no threat to the coffee belt, the forecaster said.


Read more at Bloomberg Commodities News

ICE won't say if it will offer higher bid for CBOT

(Reuters) - "I can't talk about it. Give me a break," ICE Chairman Jeffrey Sprecher told Reuters before testifying at a Senate hearing on excessive speculation in U.S. natural gas markets.




Sprecher also declined to say if the ICE would wait to make a decision on whether to make a new bid until after CBOT shareholders finish voting on Monday on the CME's offer.


Read more at Reuters.com Mergers News

Lexmark slashes view on weak hardware

(Reuters) - Lexmark blamed weak sales of inkjet replacement cartridges, including a shift to lower-priced "moderate use" cartridges, and lower per-unit revenue from hardware, driven by aggressive pricing, promotions and higher-than-expected product costs.




The warning is another disappointment from Lexmark, which has reduced the number of lower-priced, unprofitable printers it sells over the past year. Printer makers typically sell printers at a loss in hopes of reaping profits from ink sales.


Read more at Reuters.com Hot Stocks News

US STOCKS-Indexes rise; Boeing, Google aid advance

(Reuters) - The view that second-quarter earnings will beat
expectations has been gaining supporters, analysts said, but
worries persist about inflation and bond yields above 5
percent.




Boeing was among companies that led the Dow industrials'
advance, with a 1 percent gain to $99.91 on the New York Stock
Exchange, a day after the jet presentation.


Read more at Reuters.com Bonds News

U.S. flags hundreds of colleges on student loans

(Reuters) - Seventy percent or more of student loans were provided by a single lender at as many as 800 colleges in the last school year, said Jeff Baker, policy liaison at the U.S. Department of Education's federal student aid office.




"That was a little flag to us that perhaps, just perhaps, the institution isn't quite being open enough to their students and parents about who they could borrow from," he told an annual meeting of the National Association of Student Financial Aid Administrators.


Read more at Reuters.com Bonds News

Rosetta Resources says CEO Berilgen resigns

(Reuters) - Berilgen has agreed to assist the company in connection with matters involving Calpine, the company said.




The company named Executive Vice President Charles Chambers as acting president and CEO.


Read more at Reuters.com Hot Stocks News

Sprint ditches customers who complain too much

(Reuters) - "These customers were calling to a degree that we felt was excessive," said Sprint spokeswoman Roni Singleton, adding the company needed to cull its customer base to improve services.




"In some cases they were calling customer care hundreds of times a month for a period of six to 12 months on the same issues even after we felt those issues had been resolved," she said.


Read more at Reuters.com Business News

Speculation mounts over CIBC's subprime exposure

(Reuters) - "That estimate would constitute a substantial chunk of the bank's approximately $13 billion in shareholder equity."




A spokesman for CIBC, Canada's fifth biggest bank, was not immediately available for comment.


Read more at Reuters.com Bonds News

UPDATE 1-Spencer Capital reports 6.8 pct stake in Borders

(Reuters) - Spencer Capital said in a filing with the U.S. Securities
and Exchange Commission that it owns about 4 million shares of
the second-largest U.S. bookseller.




According to the filing, Spencer Capital -- a New
York-based investment manager -- had conversations with
Borders' chief financial officer concerning the company's
business late last month.


Read more at Reuters.com Government Filings News

Treasuries Advance First Time in Four Days on Subprime Mortgage Concern

(Bloomberg) -- Treasuries advanced for the first
time in four days on speculation subprime mortgage losses and
higher lending rates may slow U.S. economic growth.

Benchmark yields increased last week by the most in more
than a year on reports for June showing unexpected strength in
hiring, manufacturing and services. A reluctance to lend as
mortgage defaults and delinquencies rise may slow economic
growth, buoying U.S. government debt.


Read more at Bloomberg Bonds News

Delphi ends Cerberus deal; sees new plan in July

(Reuters) - Delphi terminated the $3.4 billion equity investment plan on Saturday. Cerberus, which is buying Chrysler Group from DaimlerChrysler AG , was a co-lead investor in the plan with Appaloosa, Delphi's biggest shareholder.




The developments are not expected to prevent Delphi from exiting bankruptcy this year and Delphi's board is scheduled to meet July 16 to consider the matters, it said.


Read more at Reuters.com Business News

Sawiris Faces Opposition From Hedge Fund Arx on Wind Debt Refinancing Plan

(Bloomberg) -- Egyptian billionaire Naguib Sawiris
faces opposition from hedge fund Arx Investment Management to his
plan to refinance about 8 billion euros ($11 billion) of debt at
Wind Telecommunicazioni SpA.

Arx is protesting because Wind, Italy's third-biggest mobile
phone company, is increasing the amount of senior loans that rank
before bonds for repayment. Rome-based Wind said it will
compensate bondholders by paying them 4 percent of their
investment, an offer that will be cut to 2 percent after July 10.


Read more at Bloomberg Bonds News

Buffett gives $2.1 bln Berkshire stock to charity

(Reuters) - Each year during the remainder of Buffett's lifetime, the number of shares given to each foundation decreases by 5%. Buffett, among the richest men in the United States, does not participate in the investment decisions of any of the five foundations, Berkshire said in a statement.




Read more at Reuters.com Mergers News

JPMorgan, Lehman Brothers Lead Fixed-Income Market, Greenwich Study Says

(Bloomberg) -- JPMorgan Chase & Co. and Lehman
Brothers Holdings Inc. tied for first place among fixed-income
dealers in 2007 based on market share and service quality,
according to a Greenwich Associates study.

This year marks the first time Greenwich published the
results of its fixed-income survey. Deutsche Bank AG, Goldman
Sachs Group Inc. and Banc of America Securities LLC rounded out
the top five firms, the report said.


Read more at Bloomberg Bonds News

Jaguar, Land Rover interest seen limited -sources

(Reuters) - Among the suitors who have been sent informal information by
the U.S. car company's advisers are buyout firms Cerberus,
Ripplewood and One Equity, said one of the sources.




However, unsuccessful bidders for Aston Martin including
Syrian-born tycoon Simon Halabi and UK buyout firm Doughty
Hanson have no plans to express interest in Jaguar and Land
Rover when initial indications of value are due to Ford on July
19, the sources said.


Read more at Reuters.com Mergers News

Lear accepts sweetened Icahn bid

(Reuters) - Pzena Investment Management LLC, which holds some 6.6 million Lear shares, or an 8.6 percent stake, said it plans to vote against investor Icahn's latest offer for the auto parts company, saying the company should remain independent.




Icahn, who said just weeks ago that he would not raise his offer for the auto parts maker, lifted it to $37.25 per share from a prior $36 offer that proxy advisory firms and several shareholders called too low.


Read more at Reuters.com Bonds News

Moody's downgrades Consolidated Natural Gas rating

(Reuters) - "The majority of the debt that was issued by Consolidated
Natural Gas is expected to be retired this month," Moody's
said. Dominion Resources is selling most of its exploration and
production assets for about $13.9 billion of pretax proceeds,
part of which will be used for de-leveraging, Moody's said.




Dominion said in May that it was merging its Consolidated
Natural Gas unit into the parent holding company in an effort
to cut costs and streamline its corporate structure.


Read more at Reuters.com Bonds News

J&J OKs $10 bln stock buyback plan

(Reuters) - J&J, which is based in New Brunswick, New Jersey, has almost 2.9 billion shares outstanding. It will finance the stock repurchases through a combination of available cash and debt.




Company spokesman Jeffrey Leebaw declined to comment on the stock buyback plan, saying J&J officials will discuss it with investors during a second-quarter earnings conference call on July 17.


Read more at Reuters.com Hot Stocks News

Canada Dollar Reaches 30-Year High on Rate Boost Speculation, Weak Dollar

(Bloomberg) -- Canada's dollar rose against the
dollar for a fourth day, reaching a 30-year high, as investors
anticipated a Bank of Canada rate increase tomorrow and the U.S.
currency weakened against most of its major counterparts.

The currency's rally is its longest since April. The
central bank will lift the overnight rate by a quarter-
percentage point to 4.5 percent, according to 28 of 29
economists surveyed by Bloomberg. Policy makers on May 29 said
rate increases may be needed ``in the near term,'' citing
``excess demand'' in the world's eighth-biggest economy.


Read more at Bloomberg Currencies News

Danone sees more revenue than cost benefit with Numico

(Reuters) - Numico Chief Executive Jan Bennink said he planned to resign after the deal closed.




"Once you have been CEO it is quite hard not to be CEO...Two captains on the same ship is probably not ideal so we came to an agreement that on the deal's closure I will probably step down," Bennink said in the conference call.


Read more at Reuters.com Business News

S.African stocks climb on miners and retailers

(Reuters) - South African shares closed in positive territory on Monday, led by heavyweight miners Anglo American and BHP Billiton as well as banking and retail stocks.

"The market has been riding on the back of the strong performance of Anglo and BHP that have seen some upgrades and there has also been a rebound in commodity prices," said Mauwane Kotane, a trader at BoE Stockbrokers.


Read more at Reuters Africa

Banks losing up to $52 bln over subprime

(Reuters) - The global financial system can absorb such losses, the
analysts said, but the prospects for the subprime mortgage
sector remains murky. The risks of CDO downgrades by rating
agencies and further depreciation in the U.S. housing market
could result in erosion in CDO values, according to the report.




Meanwhile, the analysts said European banks will suffer
smaller subprime CDO losses than their U.S. counterparts.


Read more at Reuters.com Bonds News

FED FOCUS-Fed has way to go before rests on prices

(Reuters) - U.S. non-farm employers added 132,000 workers to their
payrolls in June and job growth in April and May was stronger
than first thought, the government said on Friday in a report
that showed the jobless rate holding at a low 4.5 percent.




With the economy rebounding after a weak first quarter, Fed
policy-makers will want to see inflation excluding energy and
food stay below 2 percent for several months in row.


Read more at Reuters.com Bonds News

EMI, Virgin Media, Italease: European Credit-Default Swap Market Movers

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

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index fell 2,000 euros
to 242,500 euros at 9:30 a.m. in London, according to JPMorgan
Chase & Co.


Read more at Bloomberg Bonds News

European Stocks Rise, Led by BHP Billiton, Anglo American; Univar Surges

(Bloomberg) -- European stocks climbed for a second
day, led by mining and telecommunications companies, after a
strike in Chile sent copper prices higher and Telekom Austria AG
raised its profit forecast.

BHP Billiton Ltd. and Anglo American Plc rose. Univar NV,
the largest distributor of chemicals in the U.S., surged to a
record after CVC Capital Partners offered to buy the company.
Royal Numico NV jumped on speculation Europe's biggest baby-food
maker may receive a takeover bid.


Read more at Bloomberg Stocks News

3M plans 7-year euro benchmark bond -lead

(Reuters) - 3M is rated Aa1 by Moody's Investors Service and AA by
Standard & Poor's.




Read more at Reuters.com Bonds News

Goodwin Bid Spurns Shareholders as Royal Bank Trails Rivals in U.K. Market

(Bloomberg) -- Royal Bank of Scotland Group Plc Chief
Executive Officer Fred Goodwin's pursuit of the world's biggest
banking takeover has already cost shareholders $6.6 billion of
market value and the fight is far from over.

Goodwin, who has overseen more than $60 billion of
acquisitions since 2000, has failed to convince investors that
the proposed $97 billion bid for ABN Amro Holding NV, the largest
Dutch bank, will increase profit fast enough to bolster Royal
Bank's underperforming stock. Shares of Royal Bank dropped 5.2
percent since the offer for ABN Amro was unveiled almost three
months ago and Goodwin estimated the deal would result in $5.2
billion of merger expenses, reducing profit for two years.


Read more at Bloomberg Exclusive News

Ever-popular carry trades send yen to fresh troughs

(Reuters) - The dollar hovered near a 4-1/2-year high against the yen but stayed on the back foot against the euro, failing to get a lasting boost from Friday's surprisingly strong U.S. jobs data.




Despite strong U.S. economic releases, the Federal Reserve is expected to keep interest rates on hold this year, a negative factor for the dollar when central banks around the globe are tightening monetary policy.


Read more at Reuters.com Hot Stocks News

Korea Exchange Bank to Sell Dollar Debt After Moody's Boosts Credit Rating

(Bloomberg) -- Korea Exchange Bank, controlled by
U.S. buyout firm Lone Star Funds, plans to sell dollar-
denominated bonds after Moody's Investors Service lifted its debt
rating by three levels.

Seoul-based Korea Exchange hired Calyon, HSBC Holdings Plc,
Merrill Lynch & Co. and Morgan Stanley to arrange the sale of the
five-year floating-rate notes, according to an e-mail sent to
investors today by the underwriters. Korea Exchange will set
terms after marketing the securities to investors in Singapore on
July 11 and Hong Kong on July 12, the e-mail shows.


Read more at Bloomberg Bonds News

Central European Indexes Gain, Paced by Telekom Austria, PKN Orlen Shares

(Bloomberg) -- Central European shares rose for a
second day, paced Telekom Austria AG after the largest Austrian
phone company raised its profit forecast.

PKN Orlen SA also gained after the Polish edition of
Newsweek magazine reported Poland's largest oil company wants to
take over its local competitor.


Read more at Bloomberg Stocks News

Japan's Nikkei 225 Rises to Seven-Year High After Machinery Orders Jump

(Bloomberg) -- Japan's Nikkei 225 Stock Average rose
to a seven-year high after a government report showed machinery
orders climbed more than forecast in May. Komatsu Ltd. gained.

Energy-related shares including Nippon Mining Holdings Inc.
and Marubeni Corp. also jumped after crude oil surged to the
highest in 10 months last week and metals such as copper and gold
rose.


Read more at Bloomberg Stocks News

French CAC Index Gains, Led by Shares of BNP Paribas, Sanofi-Aventis

(Bloomberg) -- French stocks rose, paced by BNP
Paribas SA and Sanofi-Aventis SA.

Gaz de France SA also advanced. Electricite de France SA,
Europe's biggest power generator, may buy gas assets from Suez SA
as part of Suez's merger with Gaz de France SA, Les Echos
reported, citing a source it didn't name.


Read more at Bloomberg Stocks News

Oil eases from 11-month high, supply worries persist

(Reuters) - London Brent crude , currently seen as a better indicator of the global market, eased 14 cents to $75.48 a barrel by 0637 GMT, within sight of Friday's $76.01 peak and near its all-time high of $78.65 a barrel one year ago on July 8.




U.S. crude fell 31 cents to $72.50 a barrel, still some distance from its record high of $78.40 touched on July 14, 2006.


Read more at Reuters.com Hot Stocks News

UK body changes tack and backs Lilly's drug Alimta

(Reuters) - The decision reverses a 2006 NICE opinion that Alimta, which is also known as pemetrexed disodium, was not cost-effective.




Read more at Reuters.com Hot Stocks News

Corporate Bond Risk Declines in Europe, Credit-Default Swaps Market Shows

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

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies decreased 3,500 euros to 241,000 euros at 7:42 a.m. in
London, according to JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

Dollar May Advance to 125 Yen According to Technical Charts, Shinko Says

(Bloomberg) -- The dollar may rise to a 4 1/2-year
high of 125 yen next week should it sustain gains above 123.67,
said Kengo Suzuki, currency strategist at Shinko Securities Co.
in Tokyo, citing the technical analysis of its price chart.

The level of 123.67 yen is a parabolic stop and reversal
point. A rise above this price signals traders should close bets
for dollar weakness. The width between the dollar's upper and
lower Bollinger band is narrowing, suggesting the currency will
prolong its rally started July 3. Resistance at 125 is near the
U.S. currency's Dec. 6, 2002 high of 125.50.


Read more at Bloomberg Currencies News

Yen Drops as Advance in Asian Stock Markets Spurs Increase in Carry Trades

(Bloomberg) -- The yen fell to a record low against
the euro and dropped for a fifth day versus the dollar as a rally
in Asian stocks gave investors more confidence to buy higher-
yielding assets with money borrowed in Japan.

The currency also slid to a 16-year low against the
Australian dollar, taking losses in the past year to 13 percent,
as investors increased so-called carry trades. A stronger-than-
expected U.S. employment report added to optimism global economic
growth will be sustained, increasing the appetite of fund
managers for riskier assets.


Read more at Bloomberg Currencies News

Gold ticks up on oil, TOCOM jumps 1 percent

(Reuters) - Gold crawled higher on Monday on bullish energy prices and slight falls in the dollar, while the benchmark futures on the Tokyo Commodity Exchange jumped 1 percent to the highest since June 20.

By 0640 GMT, cash gold was trading at $654.50/655.20 an ounce, slightly up from $653.80/654.60 late in New York on Friday, when it rose more than $4 an ounce.


Read more at Reuters Africa

Russia's Mordashov eyes Power Machines buy -media

(Reuters) - Germany's Siemens holds 25 percent plus one share
in Power Machines and had sought to buy control in the firm, but
Russian authorities blocked the deal citing national security
reasons.




Russia's former power monopoly UES also holds 25
percent in Power Machines, which has market value of $1.2
billion.


Read more at Reuters.com Mergers News

Taiwan UMC's June sales fall 0.44 pct from yr ago

(Reuters) - Sales at United Microelectronics Corp. were T$8.745 billion last month, lower than T$8.784 billion in the same month last year, the company said on its Web site . UMC had sales of T$8.220 billion in May.



Sector leader Taiwan Semiconductor Manufacturing Co. Ltd.


Read more at Reuters.com Market News

Indian Sugar Exports May Double in 2008 Amid Global Surplus, Minister Says

(Bloomberg) -- Sugar exports from India, the world's
second-largest producer, may double in 2008 because of a
domestic surplus, adding further pressure to prices that have
plunged 44 percent in the past year.

The country may export as much as 3 million tons next year,
Akhilesh Prasad Singh, India's minister of state for agriculture,
consumer affairs, food and public distribution said today.
Exports may be 1.5 million tons this year, he told reporters at
the 9th World Beet and Cane Growers Conference in Brisbane.


Read more at Bloomberg Emerging Markets News