European Stocks Rise for Third Day; Sainsbury, Tesco Pace the Advance

(Bloomberg) -- European stocks advanced for a third
day after Delta (Two) Ltd. bought shares in J Sainsbury Plc,
lifting retail companies including Tesco Plc.

Axa SA, Europe's second-largest insurer, and bank UniCredit
SpA gained.


Read more at Bloomberg Stocks News

Oil Trades Near Nine-Month High on U.S. Refinery Slowdowns, Iran Concern

(Bloomberg) -- Crude oil traded near a nine-month
high in New York after a drop in U.S. refining raised concern
that fuel supplies may remain below average.

Maintenance at refineries last week cut processing rates to
a six-week low, prompting oil companies to produce less diesel
and heating oil in an effort to boost gasoline stockpiles. Oil
also rose after Iran, the second-largest producer in the
Organization of Petroleum Exporting Countries, rejected United
Nations demands to suspend its uranium enrichment.


Read more at Bloomberg Energy News

Sumitomo takes stake in Canadian metals company

(Reuters) - Augusta is currently conducting a feasibility study at the
Rosemont copper project about 50 km southeast of Tucson, Arizona,
which holds deposits of copper, silver and molybdenum -- a rare
metal typically used in car parts and consumer electronic
products.




Sumitomo, the third-biggest trading company in Japan, said in
a statement that it aims to build up a long-term partnership with
Augusta for the development of the Rosemont project.


Read more at Reuters.com Mergers News

Brazilian Real, Chilean, Argentine Pesos: Latin American 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: The economy grew 8 percent in the first
quarter from a year earlier, the national statistics agency said
yesterday.


Read more at Bloomberg Currencies News

Nigerian Intercontinental Bank raises $706 mln

(Reuters) - Nigeria's Intercontinental Bank Plc has raised 90 billion naira from a hugely oversubscribed public offering of shares, the bank said on Thursday.

The bank gave no explanation for the 9-month delay in announcing the results of the offering, comprising a rights issue and two public offers, which took place in September.


Read more at Reuters Africa

Chinese investment quickens, fuels tightening talk

(Reuters) - Fixed investment in urban areas rose 25.9 percent from a year earlier, picking up from 25.5 percent growth in the January-April period, the National Bureau of Statistics said on Friday.




The median forecast of economists polled by Reuters was for a rise of 25.7 percent, although a government source familiar with the data had said it would be 25.9 percent.


Read more at Reuters.com Business News

PRESS DIGEST - New York Times front page - June 15

(Reuters) - Masked Hamas gunmen took control of the Gaza Strip and the
Fatah president dissolved the 3-month-old unity government.




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Read more at Reuters.com Bonds News