Court will wait to rule on CBOT rights

(Reuters) - CME Group Inc., the world's largest futures exchange, was created with the merger of CBOT Holdings Inc. and Chicago Mercantile Exchange Holdings Inc. in July. The CBOE is the largest U.S. options market.




The exercise rights allow full members of the Chicago Board of Trade to trade options on CBOE without owning CBOE membership.


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Court will wait to rule on CBOT exercise rights

(Reuters) - CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.




The exercise rights allow full members of the Chicago Board
of Trade to trade options on CBOE without owning CBOE
membership.


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Pound Advances to Highest in 26 Years on U.K.'s Rate Advantage Over U.S.

(Bloomberg) -- The pound climbed to a 26-year high
against the dollar on speculation the Bank of England will lift
interest rates this year as losses on U.S. subprime mortgages
prompt the Federal Reserve to stay on hold.

The U.K. currency rose for a fourth day after Bear Stearns
Cos. reported losses on U.S. hedge funds that bet on bonds backed
by subprime mortgages. The BOE today released minutes of its July
5 meeting, showing policy makers voted 6-3 in favor of raising
rates to a six-year high. Inflation exceeded its 2 percent target
for a 14th month in June, a report showed yesterday.


Read more at Bloomberg Currencies News

U.K. Pound Rises to 26-Year High Against Dollar After June Inflation Data

(Bloomberg) -- The pound rose to a 26-year high
against the dollar after a report showed U.K. inflation exceeded
the Bank of England's 2 percent limit for a 14th month in June.

The U.K. currency posted its biggest gain in a week on
speculation the BOE will keep raising interest rates while the
Federal Reserve stays on hold, increasing the attraction of
pound-denominated assets. Investors raised bets on how high BOE
policy makers will lift borrowing costs following the release of
the inflation report, futures trading shows.


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PetroChina pumps 3.7 pct more oil, gas in H1

(Reuters) - The Beijing-backed firm, which vies with Sinopec Corp.
and CNOOC Ltd. to
supply the world's largest energy market after the United States,
has said it aimed to produce 5.3 percent more oil and gas to
1.116 billion BOE in 2007.




Global crude oil prices rebounded to a 10-month high above
$70 a barrel at the end of June from a 19-month low around
$50 a barrel in January.


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U.K. Gilts Post Weekly Loss on Rates; Pound Stays Near Highest in 26 Years

(Bloomberg) -- U.K. bonds fell this week, pushing 10-
year yields to the highest in more than seven years, on
speculation the Bank of England will add to yesterday's interest-
rate increase in coming months to cool inflation.

The BOE raised rates for a fifth time in 12 months, to a
six-year high of 5.75 percent, and signaled further increases may
be needed. The central bank said inflation risks in the medium
term ``lie to the upside.'' The government said today factory
production rose in May to the highest in almost six years, a sign
rates aren't too high to support economic expansion.


Read more at Bloomberg Currencies 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.


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Pound Heads for Sixth Quarterly Gain on View Rates Have Further to Rise

(Bloomberg) -- The pound headed for a quarterly
gain, its sixth in a row, after a rise in consumer and mortgage
lending supported the view that the Bank of England will keep
raising interest rates to curb inflation.

Data showed consumer credit growth almost doubled in May and
mortgage approvals unexpectedly rose to a three-month high,
suggesting the BOE must do more to cool price growth. Policy
makers next decide on interest rates on July 5, and economists
surveyed by Bloomberg News expect them to lift the main benchmark
a quarter-point to 5.75 percent.


Read more at Bloomberg Currencies News