US STOCKS-Wall St ends higher on M&A news, profits

(Reuters) - The Dow Jones industrial average was up 92.75
points, or 0.67 percent, at 13,943.83. The Standard & Poor's
500 Index was up 7.28 points, or 0.47 percent, at
1,541.38. The Nasdaq Composite Index was up 2.98
points, or 0.11 percent, at 2,690.58.




Read more at Reuters.com Bonds News

PartnerRe quarterly profit rises

(Reuters) - Operating income, which excludes after-tax net realized
gains and losses, was $139.2 million, or $2.39 a share,
compared with $115.9 million, or $2.01 a share last year.




Analysts on average expected the company to earn $2.49 a
share, excluding any exceptional items, according to Reuters
Estimates.



Read more at Reuters.com Market News

Amylin quarterly loss narrows on Byetta sales

(Reuters) - Analysts on average expected a loss of 34 cents per share,
according to Reuters Estimates.





Read more at Reuters.com Market News

Potential CDO downgrades climb to $1.4 bln - Fitch

(Reuters) - Investors have been expecting downgrades on CDOs will
follow cuts to the underlying mortgage bonds that have been
mounting at a rapid pace this month. Mortgage bonds were
increasingly favored for yield in CDOs until last year as the
slumping U.S. housing market revealed unsound underwriting
practices and excessive credit.




CDOs are created by taking portions of debt securities and
packaging them into new bonds that are split into several
classes by degree of risk.


Read more at Reuters.com Bonds News

Ford says expects to clinch competitive UAW deal

(Reuters) - "We do expect to get a resolution for our issues," Laymon said.




Ford Chief Executive Alan Mulally and UAW President Ron Gettelfinger shook hands at the automaker's headquarters on Monday afternoon in a ceremony to mark the start of talks.


Read more at Reuters.com Business News

UPDATE 1-Calpers reports 19.1 pct return, assets of $247.7 bln

(Reuters) - The Sacramento, California-based pension fund, best known
as Calpers, said in a statement that over the 12 months ended
in June its assets increased by $36.5 billion to $247.7
billion.




"This is good news for our members because these gains will
carry many Calpers plans to 100 percent full funding of our
retirement obligations as of June 30, 2007," Charles Valdes,
chair of the Calpers Investment Committee said in a statement.


Read more at Reuters.com Bonds News

XM, Sirius would offer low cost, a-la-carte option

(Reuters) - NEW YORK, July 23 - Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. said on Monday that if their proposed merger is approved, they will offer subscriptions priced 46 percent below current levels, and would let customers buy packages of their favorite channels.



Under one of several new plans announced on Monday, customers can pick 50 channels on either XM or Sirius' systems for $6.99. Additional channels can be added for 25 cents each. Currently, subscribers pay about $13 a month for more than 100 stations on either XM's or Sirius' systems.


Read more at Reuters.com Government Filings News

Structured Vehicles Are `Oasis of Calm' in Subprime Crisis, Moody's Says

(Bloomberg) -- So-called structured investment
vehicles, which hold $370 billion of assets, represent ``an
oasis of calm'' among debt issuers linked to subprime mortgages,
according to Moody's Investors Service.

Moody's expects ``ratings in the SIV and hybrid SIV sectors
to remain stable amid the current maelstrom surrounding the U.S.
subprime housing market,'' partly because of the diversity of
their portfolios, analyst Henry Tabe in London said in a
statement summarizing the firm's July 20 report.


Read more at Bloomberg Bonds News

UAW says has already made concessions to Ford

(Reuters) - "It's fair to say we have given a lot," Gettelfinger told reporters, speaking at Ford's headquarters after the union and the struggling No. 2 U.S. automaker began talks on a new contract to replace a four-year deal expiring on Sept. 14.



Gettelfinger referred to the union's agreement to a recent buyout program for Ford factory workers and a 2005 deal that allowed the company to cut its costs for retiree health care.


Read more at Reuters.com Bonds News

Wells Fargo pulls popular subprime loan from mix

(Reuters) - The company in an e-mail said it ended on Friday retail offerings of so-called 2/28 loans, which at 65 percent of all subprime mortgages last year are the staple of the industry. Payments on 2/28 adjustable-rate mortgages are based on rates that are fixed for two years and then are adjusted twice a year for the remaining 28, if the loan is not refinanced.




Decisions were partly driven by the $583 billion market for subprime mortgage bonds, where sales rely on opinions of rating companies such as Moody's Investors Service, Wells Fargo said. Rating companies in the past two weeks have unleashed a flood of downgrades on subprime bonds in response to rising delinquencies and increased their assumptions of losses that new loans will produce.


Read more at Reuters.com Bonds News

Brazil's Real Rises to Highest in Almost Seven Years on Economic Forecasts

(Bloomberg) -- Brazil's real rose to the strongest
in almost seven years after economists boosted their growth
forecasts in a weekly central bank survey.

The real has gained 16 percent against the dollar so far
this year, the best performance among the most active
currencies. It has been buoyed by rising commodity exports and
foreign investment in the country's stock and bond markets.


Read more at Bloomberg Currencies News

Moody's, McGraw-Hill Short Interest Rose in July on Subprime Debt Crisis

(Bloomberg) -- Short interest in shares of Moody's
Corp. and McGraw-Hill Cos. jumped in the past month, a sign
investors are betting the companies' credit-rating divisions will
be hurt as losses from subprime mortgages curb new bond sales.

The short interest on New York-based Moody's was 23 million
shares in early July, up 28 percent from early June, according to
data compiled by Bloomberg. Short interest on McGraw-Hill, owner
of Standard & Poor's, rose 7.8 percent to 6.3 million shares.


Read more at Bloomberg Bonds News

UPDATE 1-Mexico's Alfa second-quarter net profit up 21 percent

(Reuters) - Alfa said on Monday its April-June net profit
was 1.3 billion pesos .




Revenue at Alfa, which makes auto parts, petrochemicals and
processed food, rose 46 percent to 28.1 billion pesos.


Read more at Reuters.com Market News

UPDATE 2-Cumulus Media in $1.3 bln buyout, radio shares rise

(Reuters) - NEW YORK, July 23 - Radio broadcaster Cumulus
Media Inc. said on Monday it agreed to a $1.3 billion
buyout by investors led by its chief executive and Merrill
Lynch, reviving expectations of further deals in an industry
struggling with weaker advertising.




The agreement is the latest in a wave of media industry
buyouts, many of which have put leading U.S. newspaper
publishers and radio broadcasters into private hands as they
grapple with weak advertising and competing digital formats.


Read more at Reuters.com Bonds News

Cocoa Declines as Nigerian Bean Graders End Strike, Easing Supply Concerns

(Bloomberg) -- Cocoa fell in New York after
government workers ended a strike in Nigeria, the world's
fourth-largest producer, easing supply concerns.

Civil servants in Nigeria's main cocoa-growing state of
Ondo, including those who grade the quality of newly harvested
beans, walked out July 17 to demand higher pay, Akinwale Ojo,
executive secretary of the Cocoa Association of Nigeria, said
from Akure, Ondo's capital. Cocoa gained 1.2 percent last week.


Read more at Bloomberg Commodities News

Early CPDOs far riskier than ratings imply-UBS

(Reuters) - Last week Fitch Ratings and Dominion Bond Rating Service,
neither of which have rated CPDOs, said that the early deals
may be highly sensitive to small changes in the assumptions
underlying them. For details, see [ID:nL18292745]




"We think that early CPDOs, the ones that were introduced
last summer and fall, have a very fundamental problem with
them," said Anthony Morris, executive director in structured
products research at UBS on a conference call on Monday.


Read more at Reuters.com Bonds News

Hartford put most of $115 mln settlement in reserve

(Reuters) - The Hartford, Connecticut, insurer said it did not admit or
deny any violation of state or federal law as a result of the
settlement, and that the staff of the U.S. Securities and
Exchange Commission has concluded its investigation without
recommending any enforcement action.




Read more at Reuters.com Government Filings News

GLOBAL MARKETS-U.S. stocks advance on results, M&A deals

(Reuters) - NEW YORK, July 23 - U.S. stocks rose on Monday,
as better-than-expected profits from Merck & Co. and a nearly
$18 billion takeover in the oil services industry reassured
investors, while Treasuries eased on the respite from risk
aversion over fears about the subprime credit market.




The fall in U.S. government bond prices pulled benchmark
yields back from recent six-week lows, while the dollar was
little changed and within striking distance of a record low
against the euro hit overnight.


Read more at Reuters.com Bonds News

U.S. Stocks Gain on M&A; GlobalSantaFe, Transocean, Merck Shares Advance

(Bloomberg) -- U.S. stocks gained after $35 billion
in acquisitions allayed concern that this year's record pace of
takeovers will slow and Merck & Co.'s earnings topped analysts'
estimates.

GlobalSantaFe Corp., the world's second-biggest offshore
oil and gas driller, climbed to a record after agreeing to be
bought by larger rival Transocean Inc. Merck jumped the most in
more than three months and accounted for almost a third of the
Dow Jones Industrial Average's advance.


Read more at Bloomberg Stocks News

U.K. FTSE 100 Index Increases, Led by Friends Provident on Merger Talks

(Bloomberg) -- U.K. stocks rallied, led by Friends
Provident Plc after Resolution Plc said it is in ``advanced''
merger talks with the insurer. Prudential Plc and Legal & General
Group Plc rose after UBS AG recommended investors buy the shares.

Antofagasta Plc and Anglo American Plc paced gains in mining
companies. Barclays Plc rose after the bank increased its offer
for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

Brazil Stocks Gain, Led by Vale do Rio Doce, CSN; Airlines Gol, Tam Fall

(Bloomberg) -- Brazil's main stock index rose for the
second time in three days, led by steel and mining companies, on
speculation that diversification will boost their profits.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange added 305.90, or 0.5 percent, to 57,748.64 as of 11:43
a.m. New York time. Cia. Vale do Rio Doce, the world's biggest
iron-ore producer, led the gains.


Read more at Bloomberg Stocks News

Banks, optimism on rates propel S.Africa shares up

(Reuters) - South African shares climbed on Monday, given a lift by the banking sector on the back of hopes that the central bank will leave rates on hold next month.

The Top-40 blue chip index added 0.71 percent to 27,101.50 points, while the broader All-Share index rose 0.65 percent to 29,885.27 points. The blue chip index has gained 20 percent so far this year.


Read more at Reuters Africa

US STOCKS-Indexes rise on deals, drug company profits

(Reuters) - NEW YORK, July 23 - U.S. stocks advanced on
Monday as deal news, including a takeover in the oil services
industry worth nearly $18 billion, and strong pharmaceutical
sector profits reassured investors after Friday's sell-off.




Schering-Plough Corp. and Merck & Co. , a
Dow component, both reported quarterly results above analysts'
expectations.


Read more at Reuters.com Bonds News

Tellabs shares up on report of Nokia Siemens offer

(Reuters) - Shares in Nokia fell 0.52 percent in Helsinki trading, compared with a 0.42 percent rise in the DJ Stoxx European technology index .




The two companies declined comment.


Read more at Reuters.com Hot Stocks News

Copper Futures Decline in New York as Gains in Past Month Seen as Overdone

(Bloomberg) -- Copper in New York fell for the first
time in four sessions on speculation that a rally that took the
metal to a 10-week-high was overdone.

Before today, copper had gained 7.7 percent in the past
month on concern that strikes at Latin American mining companies
would cut production at a time of strong demand. Inventories of
the metal monitored by the London Metal Exchange rose the most in
a month today.


Read more at Bloomberg Commodities News

UPDATE 1-Mexico's GAP 2nd-qtr net profit rises 55 pct

(Reuters) - Revenue in the quarter rose 16.1 percent to 847 million
pesos, the company said on Monday.




GAP operates 12 airports in Mexico, including Guadalajara,
Tijuana, Los Cabos and Puerto Vallarta.


Read more at Reuters.com Market News

UPDATE 1-Canada has no plan to move on strong C$ -Flaherty

(Reuters) - "We are not going back to a time when governments
interfered with respect to the market and the value of our
currency in the market," Flaherty said in an interview on
Business News Network.




The Canadian dollar hit a 30-year high against the U.S.
dollar last week and then retreated on Friday. Early on Monday,
the currency rebounded to C$1.0433 to the U.S. dollar, or 95.83
U.S. cents, up from C$1.0485, or 95.37 U.S. cents, at Friday's
close.


Read more at Reuters.com Bonds News

EU to sign Morocco grant, sees energy cooperation

(Reuters) - The European Union will grant Morocco 654 million euros over four years and begin moves to merge Morocco's energy sector with those of its northern neighbours, the EU said on Monday.

After meeting in Brussels on Monday, officials will sign a common declaration to prepare an eventual integration of Morocco's power sector into the EU's energy market, it said, without giving any deadline.


Read more at Reuters Africa

Germany's DAX Index Advances, Paced by Fresenius Medical; SAP Shares Climb

(Bloomberg) -- Germany's benchmark stock index
climbed, paced by Fresenius Medical Care AG. SAP AG gained after
Barron's reported the company could be a takeover target.

Hypo Real Estate Holding AG retreated after Germany's
second-biggest commercial-property lender said it agreed to buy
Depfa Bank Plc for about 5.7 billion euros ($7.9 billion).


Read more at Bloomberg Stocks News

US STOCKS-Wall Street opens higher on earnings, M&A

(Reuters) - The Dow Jones industrial average was up 70.15
points, or 0.51 percent, at 13,921.23. The Standard & Poor's
500 Index was up 7.89 points, or 0.51 percent, at
1,541.99. The Nasdaq Composite Index was up 11.85
points, or 0.44 percent, at 2,699.45.




Read more at Reuters.com Bonds News

Mexican stocks up, driven by Grupo Mexico gains

(Reuters) - Citigroup raised its long-term copper price assumption to
$1.45 per pound, saying the copper market was enjoying a repeat
of its performance in the 'super cycles' of 50 and 100 years
ago.




Grupo Mexico jumped 1.99 percent to 80.97
after the announcement.


Read more at Reuters.com Bonds News

GM says UAW talks must address health care costs

(Reuters) - She added: "I think it's impossible to ignore the issue. I
guess we'll see how possible it is to address it."




Tremblay said about $3 billion of GM's annual health care
bill went to cover the cost of insuring its retirees and their
dependents.


Read more at Reuters.com Bonds News

Arrow International, LifePoint Hospitals, Tellabs: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 9:35 a.m. in New York.

Arrow International Inc. (ARRO US) rose $6.43, or 17
percent, to $44.22. Teleflex Inc. (TFX US) said it agreed to
acquire Arrow for $2 billion, adding products for critical and
cardiac care. Under the agreement approved by both companies'
boards, holders of Arrow would get $45.50 a share, 20 percent
more than the stock's closing price July 20, the companies said
in a statement on Business Wire. Teleflex rose $1.11 to $86.41.


Read more at Bloomberg Stocks News

Q-Cells expands ties with US module maker Solaria

(Reuters) - "We not only see Solaria as an important partner and
customer within our core business areas, but also seek to help
develop Solaria's highly promising approach through our
investment," Q-Cells Chief Executive Anton Millner said in a
statement.




The deal will enable Solaria to produce over 2.7 GW of
modules using its special cell technology, Solaria said.


Read more at Reuters.com Mergers News

LifePoint Hospitals net tumbles 61 pct; shrs dive

(Reuters) - NEW YORK, July 23 - Rural hospital chain LifePoint Hospitals Inc. said on Monday quarterly profit tumbled 61 percent as it struggled with unpaid medical bills, high labor costs and medical malpractice insurance expenses, sending shares down 13 percent.



The company also projected full-year earnings far below Wall Street's target.


Read more at Reuters.com Market News

UPDATE 1-Lee Enterprises profit falls, says Web growth strong

(Reuters) - Lee attributed the decline in profit and revenue to a slump
in real estate, automotive and national advertising at its
daily newspapers.




But the company pointed to 60 percent online growth during
the quarter as a bright spot, saying the Internet now accounts
for nearly 8 percent of advertising revenue and had surpassed
the contribution of national advertising.


Read more at Reuters.com Market News

Mexico's Peso Gains Most in More Than a Week on Interest-Rate, CPI Outlook

(Bloomberg) -- Mexico's peso gained the most in
more than a week on expectations the central bank this week
will keep its benchmark interest rate unchanged at its highest
since March 2006.

Policy makers will leave the overnight lending rate at 7.25
percent at their July 27 policy meeting, 13 of 15 economists
surveyed by Bloomberg predicted. Two expected policy makers to
raise the rate to 7.5 percent. A report tomorrow may show
consumer prices rose to the highest since January in the first
half of this month, a separate Bloomberg economists' survey
showed.


Read more at Bloomberg Currencies News

Gold trades near 10-week highs on weaker dollar

(Reuters) - Gold was firm on Monday, holding near 10-week highs as the dollar hit record lows against the euro on worries about the U.S. subprime mortgage sector.

Gold stood at $683.80/684.60 an ounce at 1310 GMT, compared with $682.90/$683.70 late in New York on Friday, when it touched $686, the highest since May 9 and a gain of more than $20 since last Monday.


Read more at Reuters Africa

Wal-Mart drops prices on more than 16,000 products

(Reuters) - The price cuts and new ad campaign come as Wal-Mart is working to revive sales at its U.S. stores, which last year posted their smallest same-store sales gain since the retailer began reporting such figures in 1980.




The Bentonville, Arkansas-based retailer has blamed numerous factors for the sluggish results, including merchandising missteps and a remodeling program that disrupted shoppers.


Read more at Reuters.com Business News

Canadian Stocks May Rise on Profit Optimism, Takeover Talk, Led by CN Rail

(Bloomberg) -- Canadian stocks may rise on optimism
that near-record commodity prices may boost profits and trigger
more takeovers. Canadian National Railway Co., which is expected to
report quarterly earnings today, may lead the advance.

The Standard & Poor's/TSX Composite Index fell 42.89, or 0.3
percent, to 14,582.87 on July 20 in Toronto. The nation's benchmark
has risen 27 percent in the past year and reached a record last
week on global demand for energy and raw-materials, and record
takeovers of Canadian companies.


Read more at Bloomberg Stocks News

US STOCKS-Wall St eyes higher open on deals, profits

(Reuters) - NEW YORK, July 23 - U.S. stocks headed for a
higher open on Monday as takeover news and
stronger-than-expected profits in the pharmaceutical sector
eased anxiety about earnings, which led to Friday's sell-off.




In one of the takeover deals, Transocean Inc. , the
world's largest offshore driller, said it had agreed to buy
drilling rig operator GlobalSantaFe Corp . For details,
see [ID:nN23380261]


Read more at Reuters.com Bonds News

Tellabs shrs jump on report of Nokia Siemens offer

(Reuters) - HELSINKI/NEW YORK, July 23 - Shares of Tellabs Inc. surged 19 percent on Monday after a financial news Web site reported the U.S. telecommunications equipment maker was entertaining a $7 billion bid by a joint venture of Nokia Oyj and Siemens AG .



TheStreet.com said Nokia Siemens Networks [NSN.UL] was offering about $16 to $17 a share for Tellabs, citing a source familiar with the deal.


Read more at Reuters.com Mergers News

Bausch & Lomb withdraws EU product application

(Reuters) - Baush & Lomb applied to the agency for marketing
authorisation in September 2006.




Read more at Reuters.com Government Filings News

Gentex quarterly earnings rise 14 percent

(Reuters) - Analysts had expected the company to earn 21 cents a share,
according to Reuters Estimates.





Read more at Reuters.com Market News

UPDATE 1-Gentex quarterly earnings rise 14 percent

(Reuters) - Net income rose to $31 million, or 22 cents a share, from
$27.2 million, or 18 cents a share, a year earlier. Sales rose
15 percent to $163.5 million.




Analysts had expected the Zeeland, Michigan-based company
to report earnings of 21 cents a share and revenue of $160.6
million, according to Reuters Estimates.


Read more at Reuters.com Market News

GlobalSantaFe, GPC Biotech, Merck, Opsware, Tellabs: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges.
This preview includes news that broke after exchanges closed.
Stock symbols are in parentheses after company names. Share
prices are as of 8:10 a.m. in New York.

Amgen Inc. (AMGN US) rose 82 cents to $57 in trading before
U.S. exchanges opened. The company's anemia drugs will be
restricted at high doses for patients on kidney dialysis
treatment, according to a statement from the U.S. health program
for the elderly and disabled. The policy will provide greater
restrictions on dosages when a patient's level of hemoglobin
exceeds 13 grams per deciliter of blood, the Medicare agency
said. The stock rose 61 cents to $56.18 Friday.


Read more at Bloomberg Stocks News

Corporate Bond Risk Soars in Europe on Concern Over Hedge Fund Selloff

(Bloomberg) -- The risk of owning corporate bonds
rose to the highest in more than two years in Europe on concern
hedge funds may have to sell assets to cover losses, according
to traders of credit-default swaps.

Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 21,000 euros to 365,000 euros at 1:25 p.m.
in London, according to JPMorgan Chase & Co. The index, which
increases as perceptions of credit quality deteriorate, has more
than doubled since the start of June.


Read more at Bloomberg Bonds News

S.Africa government to sell shares in MTN to black investors

(Reuters) - A fund controlled by the South African government will sell about 11.7 million shares in mobile phone operator MTN to black investors for 931 million rand, the fund and MTN said on Monday.

The National Empowerment Fund, an arm of the Department of Trade and Industry that aims to redress the economic imbalances of apartheid, will sell the shares to black individuals and investment groups for 79.61 rand each -- a 20 percent discount to the 99.51 rand 30-day average on July 20.


Read more at Reuters Africa

UPDATE 2-Transocean to buy GlobalSantaFe

(Reuters) - The oil services sector has been rife with rumors of
link-ups in recent months, fueled by speculation that companies
would seek mergers to gain market share and take advantage of
the huge spending increases in the energy sector, particularly
for the development of offshore fields.




"This is the type of transaction shareholders have been
clamoring for," said Mark Urness, an analyst with Calyon
Securities.


Read more at Reuters.com Mergers News

US STOCKS-Futures rise on deals, profits; Merck gains

(Reuters) - NEW YORK, July 23 - U.S. stock futures rose on
Monday as deal news and stronger-than-expected profits from
drug maker Merck & Co. and others eased anxiety about
earnings, which led to Friday's sell-off.




In one of the deals, GlobalSantaFe Corp and
Transocean Inc. said they had agreed to a combination
that would create an offshore oil drilling company worth about
$53 billion. For details, see [ID:nN23380261]. Shares of
Transocean were up 7.3 percent in electronic trading before the
open.


Read more at Reuters.com Bonds News

European Stocks Advance; Depfa, Friends Provident, Barclays Climb

(Bloomberg) -- European stocks rose after Hypo Real
Estate Holding AG agreed to buy Depfa Bank Plc for 5.7 billion
euros ($7.9 billion) and merger talks between two U.K. insurers
revived speculation that takeovers in the region will continue.

Depfa soared 13 percent. Friends Provident Plc jumped the most
in more than two months and Resolution Plc headed for its biggest
gain since March after the companies said they are in talks for a
merger that would create the U.K.'s fifth-biggest insurer. Barclays
Plc climbed after it increased its bid for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

CVRD to resettle families off Mozambique coal mine

(Reuters) - Brazil's Companhia Vale do Rio Doce plans to spend $30 million to resettle 1,200 families occupying a mining site in Mozambique, clearing the way for development of the project, a newspaper reported on Monday.

"We have our teams working in the district of Inhangoma to demarcate the areas where the local population would be resettled in a process to be concluded before the end of the year," CVRD official Andre Vasconcelos was quoted as saying by Noticias, a daily newspaper in Mozambique.


Read more at Reuters Africa

U.S. Stock-Index Futures Are Little Changed; Merck Advances in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before companies including Merck & Co., the third-largest
U.S. drugmaker, and American Express Co. report earnings.

Shares of Merck rose in Germany, while American Express
didn't trade in Europe. Tellabs Inc. surged after Thestreet.com
said Nokia Siemens Networks may bid for the maker of equipment
for phone and Internet systems. Pharmaceuticals company Schering-
Plough Corp. declined.


Read more at Bloomberg Stocks News

Gold Falls in London as Dollar's Drop Against Euro Stalls; Silver Climbs

(Bloomberg) -- Gold fell in London as the dollar's
decline against the euro stalled, eroding the appeal of the
precious metal as an alternative investment. Silver advanced.

Before today, gold had climbed for three consecutive weeks
while the dollar fell against the euro for six weeks in a row.
Gold declined today and the euro weakened against the dollar,
both for the first time in a week.


Read more at Bloomberg Commodities News

Rubber Falls as Yen Advances Against U.S. Dollar, China Imports Decline

(Bloomberg) -- Rubber futures in Tokyo fell for the
first day in four as the yen strengthened to its highest in more
than six weeks against the dollar and China reported imports of
the commodity declined last month.

A gain in Japan's currency damps the value of yen-
denominated contracts for commodities such as rubber, which
trades globally in dollars. China's natural rubber imports
dropped 1 percent in June to 118,417 metric tons from a year ago,
the Beijing-based Customs General Administration said today.


Read more at Bloomberg Commodities News

Russia's Urals Oil Steady as European Refining Margins Recover From Lows

(Bloomberg) -- Urals crude, Russia's export blend, was
little changed against benchmark prices in northwestern Europe
after recent losses stemmed a decline in refining profitability.

The price of Urals cargoes loading within 10 to 25 days
remained at a discount to dated Brent of minus $2.65 a barrel on
July 20, according to data compiled by Bloomberg, unchanged from
July 19.


Read more at Bloomberg Energy News

UPDATE 1-Barclays gets nod to buy stake in China trust firm

(Reuters) - SHANGHAI/BEIJING, July 23 - Barclays has
won regulatory approval to buy into a Chinese trust company,
securing a foothold in the country's fast-growing asset
management sector, two sources familiar with the situation said
on Monday.




London-based Barclays Bank Plc will be allowed to buy a
nearly 20 percent stake in New China Trust & Investment Co., one
of the country's oldest trust firms, after negotiations for more
than one year between the two companies, the sources said.


Read more at Reuters.com Government Filings News

U.K. Natural Gas Declines as on Forecast That Supplies May Outstrip Demand

(Bloomberg) -- U.K. natural gas costs fell as
forecasts indicated supplies may outstrip expected consumption of
the fuel today.

Gas for same-day delivery declined as much as 2 pence, or
5.9 percent, to 32 pence a therm, according to prices on
Bloomberg from the broker ICAP Plc. It traded at 32.50 pence at
8:31 a.m. London time. That's equivalent to $6.70 a million
British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

FTSE gains as Barclays ups ABN bid, insurers buoy

(Reuters) - The FTSE 100 of Britain's leading shares edged higher on Monday as merger and acquisition activity boosted stocks at the start of a busy week for corporate earnings.

At 0806 GMT, the UK's main share index was up 9.9 points, or 0.2 percent at 6,595.1.


Read more at Reuters Africa

U.K. Stocks Rebound, Paced by Prudential, Resolution; Barclays Advances

(Bloomberg) -- U.K. stocks climbed, rebounding from
last week's decline, led by Friends Provident Plc after Resolution
Plc said its in ``advanced'' talks to merge with the insurer.

Prudential Plc and Legal & General Group Plc paced the gains
after UBS AG recommended investors buy the shares. Barclays Plc
rose after the bank increased its offer for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

Japan Bonds Gain on Speculation Investors Sought Safety of Government Deb

(Bloomberg) -- Japan's bonds headed for the longest
winning streak since November on speculation a decline in
emerging-market debt and equities will prompt investors to seek
the relative safety of government securities.

The Japanese 10-year yield fell to the lowest in almost
three weeks as a drop in U.S. stocks extended to Asia. The yield
premium required to compensate buyers for the extra risk of
holding emerging-market debt compared with similar-maturity U.S.
Treasuries climbed to the highest since March, according to
JPMorgan Chase & Co.'s EMBI Plus index.


Read more at Bloomberg Bonds News

UPDATE 1-Japan ready to accept IAEA inspectors after quake

(Reuters) - Japan's nuclear industry -- which supplies about one-third
of the country's electricity needs and is central to its
efforts to battle global warming -- has been tarnished by
cover-ups of accidents and fudged safety records.




The Japanese government had first told the U.N. nuclear
watchdog that it did not need help for now, but it then came
under pressure from local authorities to allow international
inspectors into the quake-hit Kashiwazaki-Kariwa plant.


Read more at Reuters.com Government Filings News

Terna, InterGen, Sparebanken, Groupama to Sell Debt: European Bond Alert

(Bloomberg) -- Network Rail Ltd., the government-
backed owner of Britain's railways, is among borrowers seeking to
raise the equivalent of at least 3.5 billion euros ($4.8 billion)
from sales of bonds in euros and pounds, according to data
compiled by Bloomberg.

Companies sold the equivalent of $1.04 trillion of bonds
denominated in euros and pounds so far this year, up from $844
billion in the same period in 2006.


Read more at Bloomberg Bonds News

European shares open mixed with M&A in focus

(Reuters) - European shares got off to a mixed start on Monday as merger activity lent some support while investors still worried that problems in the U.S. housing market could spread to the broader economy.

M&A activity came to the fore again after Britain's Barclays


Read more at Reuters Africa

Turkish Stocks, Bonds, Lira Rise After Erdogan's Justice Party Re-elected

(Bloomberg) -- Turkish stocks, bonds and the lira
gained after voters re-elected Prime Minister Recep Tayyip
Erdogan, giving him a mandate to extend policies that won European
Union membership talks and helped bring 21 quarters of growth.

The ISE National 100 Index rose 3.8 percent to 54,966.6 as of
9:56 a.m. The lira rose 1.58 percent, trading at 1.253 to the
dollar. Yields on lira-denominated bonds fell 27 basis points to
17.19 percent, their lowest in 13 months, according to ABN Amro
benchmark prices. A basis point is 0.01 percentage point.


Read more at Bloomberg Stocks News

Rand hits 11-month high, could test 6.78/dollar

(Reuters) - South Africa's rand hit an 11 month high against the dollar on Monday and is likely hold its gains in the session as the greenback remains under pressure.

The rand was trading at 6.83 to the dollar at 0645 GMT, about 0.9 percent firmer than its New York close of 6.8925 on Friday.


Read more at Reuters Africa

Norsk Hydro to build alumina refinery with CVRD

(Reuters) - "Investment cost in the first stage for the total
project is preliminary estimated at $1.5 billion," it said.




Read more at Reuters.com Mergers News

TomTom to buy online map supplier Tele Atlas

(Reuters) - TomTom, which also announced quarterly results a week early
that showed net profit leaped 81 percent from a year earlier,
said it intends to make a cash offer of 21.25 euros per share
bid for Netherlands-based Tele Atlas.




TomTom will fund the acquisition with debt and cash, TomTom
Chief Financial Officer Marina Wyatt told reporters on a
conference call.


Read more at Reuters.com Market News