FTSE weighed by miners, worries over US economy

(Reuters) - Britain's top share index fell on Tuesday as miners suffered downgrades and investors braced for U.S. inflation data after fresh fears over the subprime mortgage market fuelled concerns about the state of the world's largest economy.

Investors were also unsettled by a UK inflation report that showed price pressures remained strong, stoking fears of higher interest rates.


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Asia stocks hit record high after U.S. rally

(Reuters) - The yen plumbed a record low against the euro, still feeling the effects of comments from Japan's central bank governor on Friday that reduced expectations for a rise in interest rates in July.




The dollar stayed at a one-week low against the euro after the U.S. inflation report, underpinning spot gold , which rose to a 1-½ week peak above $656 an ounce, while oil held firm amid supply worries at a time of peak summer gasoline demand in the United States.


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Copper Rises in Asian Trade on Strike Concern, U.S. Economy; Zinc Declines

(Bloomberg) -- Copper prices rose in Asia on
concern that labor unrest in Chile may disrupt supply, and as
lower-than-expected U.S. inflation boosted the outlook for
demand in the U.S., the world's second-biggest consumer of the
metal.

Chile's Codelco, the world's biggest copper producer, faces
protests by workers demanding bigger bonuses, a union leader
said June 15. In the U.S., chances of an interest rate rise,
which might slow economic growth and copper consumption, were
reduced as consumer prices, excluding food and fuel, rose 0.1
percent last month, compared with 0.2 percent projected by
economists.


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Asian Stocks Rise for Third Day on U.S. Inflation, Yen; Toyota Advances

(Bloomberg) -- Asian stocks rose for a third day
after a measure of U.S. inflation cooled and the yen weakened
against the dollar and euro, helping improve earnings prospects
for the region's exporters.

Samsung Electronics Co. and Toyota Motor Corp. led gains
among technology companies and automakers. BHP Billiton Ltd.,
the world's No. 1 mining company, climbed after metals prices
advanced. China's CSI 300 Index opened 2.5 percent higher, set
for a record.


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UBS cuts earnings forecasts for S.Korean chip makers

(Reuters) - The investment bank said it would lower its 2007 net income
forecast for Samsung Electronics Co. Ltd. by 6.9
percent to 8.3 trillion won and its 2008
estimate by 4.6 percent to 10.4 trillion won.




UBS also cut its share target price on Samsung to 670,000
won from 690,000 won. Shares in the world's biggest maker of
memory chips were up 0.7 percent to 578,000 won by 0047 GMT,
following tame U.S. inflation data.


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US STOCKS-Futures rise on Intel upgrade; CPI on tap

(Reuters) - NEW YORK, June 15 - U.S. stock futures signaled a
higher open on Friday, with technology shares likely to
underpin gains after a broker upgrade of Intel Corp. ,
but investors were cautious ahead of key U.S. inflation data.




Intel shares jumped 2 percent in electronic trade after
Goldman Sachs raised its rating on the chipmaker, a component
of the Dow Jones industrial average , to "buy" from
"neutral."


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GLOBAL MARKETS-Stocks, bond yields rise; yen weak after BOJ

(Reuters) - LONDON, June 15 - Global stocks rose on Friday,
absorbing further gains in U.S. and euro zone government bond
yields ahead of U.S. inflation data, while the yen sank after
the Bank of Japan left interest rates on hold.




Energy stocks outperformed after oil spiked above $71 a
barrel overnight and merger and acquisition speculation buoyed
British retailers after a Qatari investment fund increased its
stake in J. Sainsbury , sending its shares up 5 percent.


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Banks, retailers boost European shares

(Reuters) - European shares rose in early trade on Friday, pushed up by financial and resource shares as the oil price soared back above $71 a barrel, while investors waited for key U.S. inflation data due later in the day.

The DJ Stoxx European retail index gained 1 percent led by J. Sainsbury which added 4.5 percent, after a Qatari group increased its stake in the supermarket to a quarter.


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Rand trades firm, eyes US inflation

(Reuters) - South Africa's rand firmed on Friday, adding to gains of the past two days after a choppy week, with markets braced for key U.S. inflation data due later in the session.

The local currency was at 7.1750 to the dollar at 0637 GMT, 0.2 percent stronger than a previous New York close of 7.19, and well off a low for the week of 7.3225 against the greenback touched on Wednesday.


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