Volatility Index Surges to Highest in 13 Months as Stocks Plunge Worldwide

(Bloomberg) -- The benchmark for U.S. stock
volatility surged to the highest in 13 months on concern higher
borrowing costs will slow takeovers, spur debt defaults and curb
earnings.

The Chicago Board Options Exchange Volatility Index jumped
as much as 27 percent to 22.96, the highest since June 2006.
Higher readings in the so-called VIX, derived from prices paid
for options on the Standard & Poor's 500 Index, indicate traders
expect bigger stock-market swings in the next 30 days.


Read more at Bloomberg Stocks News

Global Stocks Drop; Investors Shun Risk as Credit Market Turmoil Worsens

(Bloomberg) -- Stocks tumbled around the world and
U.S. Treasuries rallied on concern higher borrowing costs will
slow takeovers, spur debt defaults and curb earnings, prompting
investors to flee riskier assets.

The Standard & Poor's 500 Index fell to its lowest in almost
three months, while the FTSE 100's biggest drop in four years led
declines across Europe. Benchmark stock indexes in Argentina,
Brazil, Mexico, Turkey and Sweden sank more than 3 percent.


Read more at Bloomberg Stocks News

Egypt indexes inch up, Alexandria Real Estate gains

(Reuters) - Egyptian stock indexes rose slightly on Thursday supported by major real estate shares including Alexandria Real Estate Investment, which jumped after an acquisition offer, brokers said.

Talaat Mustafa Group said it had made an offer to buy Alexandria Real Estate, its partly-owned subsidiary, for 394 Egyptian pounds per share in an equity swap as part of wider expansion plans.


Read more at Reuters Africa

Afrox says set for "real growth" in earnings

(Reuters) - South African gas group African Oxygen posted 9-month headline earnings per share of 117 cents compared with 93.7 cents in the six months to end June 2006, and said on Thursday it was positioned for "real growth" in earnings.

Afrox is changing its financial year to end December from end September to align itself with its holding company, Germany's Linde Group, so was unable to provide comparative figures.


Read more at Reuters Africa

Oil rises to $77 on increased US refinery demand

(Reuters) - Oil climbed to $77 and U.S. crude hit its highest in almost a year on Thursday on increasing demand from refiners in the world's top consumer.

At one point the rally lifted U.S. oil above London Brent for the first time since February, based on closing prices.


Read more at Reuters Africa

Anglo says S.Africa zinc, copper unit hit by long strike

(Reuters) - The world's third biggest mining group, Anglo American Plc, said on Thursday that output at its Black Mountain zinc and copper production unit in South Africa had been hit by prolonged industrial action.

Anglo did not say exactly how much output had been lost at Black Mountain which also produces lead and silver.


Read more at Reuters Africa

St. Jude gets US okay for heart access device

(Reuters) - The device also received a Health Canada license, the company said in a statement.






Read more at Reuters.com Government Filings News