Asian stocks brush off U.S. fall, oil steady

(Reuters) - The yen bounced along near recent lows against the euro and the dollar and some traders say the low-yielding currency will continue to drift lower.




At the other end of the spectrum, the New Zealand dollar rose to a 22-year-high against the U.S. currency.


Read more at Reuters.com Hot Stocks News

S.Africa unit labour costs at 5.9 pct in Q4 - c.bank

(Reuters) - South Africa's unit labour costs increased by 5.9 percent year-on-year in the fourth quarter of 2006 compared to a revised 5.2 percent in the previous quarter, the central bank said on Thursday.

Changes in nominal labour costs normally precede or coincide with changes in consumer price inflation, where the main CPIX gauge targeted by the Reserve Bank accelerated to an annualised 6.3 percent in April, breaching a 3-6 percent target.


Read more at Reuters Africa

LSE board to discuss Borsa deal - sources

(Reuters) - LONDON/MILAN, June 21 - The London Stock Exchange board of directors was due to meet on Thursday morning to discuss the terms of a possible deal with Borsa Italiana, sources close to the situation told Reuters.



Among the issues being reviewed is how much of a stake Borsa Italiana would have in a combined company, the sources said.


Read more at Reuters.com Mergers News

Asian Currencies Drop as Yield Advantage Narrows; Taiwan Dollar Advances

(Bloomberg) -- Southeast Asian currencies, including
the Indonesian rupiah and the Philippine peso, dropped because
investors cut holdings of emerging-market assets as U.S. bonds
extended declines.

The rupiah and the peso had their biggest slide in a week as
rising Treasury yields narrowed the premium investors receive for
holding emerging-market debt. Fund managers get 3.62 percentage
points more by keeping Indonesian 10-year bonds instead of
similar-maturity U.S. Treasuries, down from 3.85 percentage
points at the beginning of June.


Read more at Bloomberg Currencies News

U.K. Stocks Decline, Paced by Persimmon, British Land, Tesco on Rates

(Bloomberg) -- U.K. stocks fell, paced by Persimmon
Plc and British Land Plc, among the companies most sensitive to
higher interest rates. Tesco Plc led retailers lower.

London Stock Exchange Plc retreated after the bourse said it
is in takeover talks with Borsa Italiana SpA.


Read more at Bloomberg Stocks News

Germany's DAX Index Retreats, Led Lower by RWE, Deutsche Boerse Shares

(Bloomberg) -- German stocks declined, paced by RWE
AG, the country's second-largest utility, and Deutsche Boerse
AG, the operator of the Frankfurt stock exchange.

The benchmark DAX Index lost 65.15, or 0.8 percent, to
8025.34 at 9:47 a.m. in Frankfurt. DAX futures expiring in
September fell 0.9 percent to 8109. The HDAX Index of the
country's 110 biggest companies decreased 0.7 percent.


Read more at Bloomberg Stocks News

European 10-Year Bonds Drop for Second Day Before German Confidence Report

(Bloomberg) -- European bonds fell for a second day
before a report that's expected to show business optimism in the
region's largest economy is buoyant, underpinning the case for
the European Central Bank to keep lifting interest rates.

The drop in debt pushed 10-year yields to near a five-year
high as investors reassess the outlook for global borrowing
costs. An index tomorrow is likely to show German business
confidence held near the highest on record this month. Futures
show traders are adding to bets the ECB will raise rates twice
more this year.


Read more at Bloomberg Bonds News