JGB futures steady, recover from 7-month lows

(Reuters) - Expectations that interest rates will rise in the coming
months weighed on market sentiment, pushing the two-year yield to
a 10-year high ahead of key economic data and speeches by Bank of
Japan officials later this week.




"Market players are sensing that an early rate hike could
become a reality, that rates could be raised during the
July-September period," said Akito Fukunaga, a fixed income
strategist at Credit Suisse.


Read more at Reuters.com Bonds News

Dollar supported as Fed rate cut concerns subside

(Reuters) - The dollar hovered near a six-week high against the euro on Monday as traders reckoned that weak U.S. housing data late last week was not enough to prompt the Federal Reserve to cut interest rates later in the year.

The dollar edged down from a three-month high against the yen as Japanese exporters repatriated funds, but the low-yielding Japanese currency stayed weak since traders continued to shun it for overseas assets offering higher rates.


Read more at Reuters Africa

Indonesia's Indofood shares jump on takeover plan

(Reuters) - Indofood's shares were up 7.1 percent at 1,810 rupiah by 0318 GMT, while Indofood Agri's shares rose 1.57 percent on the Singapore exchange at S$1.29, after jumping as much as 4.7 percent at one point on Monday.




Trading in shares of London Sumatra remained suspended. The shares last traded on May 23 at 6,400 rupiah.


Read more at Reuters.com Hot Stocks News

Advanced Medical, Avaya, Coca-Cola, Lawson Software: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges on
May 29. The market is closed tomorrow for the Memorial Day
holiday. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Advanced Medical Optics Inc. (EYE US) fell $3.20, or 8
percent, to $37 in extended trading May 25 after the official
close of U.S. exchanges. The company recalled one of its contact
lens solutions after U.S. health inspectors linked the product
to a rare eye disease that can cause blindness.


Read more at Bloomberg Stocks News

Bharat Petroleum Seeks Sweet, Sour Crude Oil Cargoes for August Loading

(Bloomberg) -- Bharat Petroleum Corp., India's
third-largest refiner, is seeking crude oil for loading in
August, said traders who received offer documents.

Details of the Mumbai-based refiner's requirements are as
follows:


Read more at Bloomberg Energy News

World Copper Posts Deficit of 51,000 Tons in February, Study Group Says

(Bloomberg) -- World refined copper consumption beat
production by about 51,000 metric tons in February as China and
Europe used more of the industrial metal, the International
Copper Study Group said.

Production in February was estimated at 1,396,000 tons,
compared with usage of 1,447,000 tons. After seasonal adjustments,
the deficit was about 34,000 tons for the month, the Lisbon-based
group said in an e-mailed statement dated May 25.


Read more at Bloomberg Emerging Markets News

Taiwan Dollar Advances on Speculation Central Bank Will Buy Own Currency

(Bloomberg) -- Taiwan's dollar strengthened to a
one-month high on speculation the central bank will purchase the
currency to curb declines.

A slide in the Taiwan dollar last week to a 17-month low
increased the cost of imports, adding to inflationary pressure
on the island. A weaker currency may also encourage some
investors to take funds out of the island as value of securities
holdings is eroded.


Read more at Bloomberg Currencies News

UPDATE 1-Australia's James Hardie Q4 profit falls

(Reuters) - Hardie, which makes about 80 percent of its sales in the
United States, said however it had seen some improvement in its
U.S. business during the first quarter.




"The outlook for the U.S. housing market continues to carry
significant uncertainty," said Chief Executive Louis Gries in a
statement.


Read more at Reuters.com Market News

Asia Energy Day Ahead: Oil May Rise This Week; Ethanol at Seven-Week High

(Bloomberg) -- Crude oil may rise this week on
speculation that Nigeria's supply will be cut further and
shipments from Iran may be jeopardized by its standoff with the
United Nations. Ethanol in Chicago gained a third day, to a
seven-week high. Shareholders of Exxon Mobil Corp., Royal Dutch
Shell Plc, and the world's four other biggest publicly traded
oil companies got $98 billion in returns last year as record oil
and natural-gas prices pumped up earnings.

MOST READ MARKETS STORIES


Read more at Bloomberg Energy News

Fairfax, Commonwealth Bank, FirstMac, Societe Generale: Australia Bonds

(Bloomberg) -- The following is a list of bond sales
expected in the coming days and weeks.

Eurobonds


Read more at Bloomberg Bonds News

Sybase could be eyeing Openwave takeover-Barron's

(Reuters) - That raised speculation about competitive takeover bids
from Sybase and others, Barron's said.




Harbinger, which owns 13 percent of Openwave, offered to
buy an additional 49 percent stake for about $335 million. The
share offer was for $8.30, but Openwave closed on Friday at
$9.21.


Read more at Reuters.com Mergers News

Israeli Economy Grew at Annual 6.3% in First Quarter on Spending, Exports

(Bloomberg) -- Israeli gross domestic product
expanded an annualized 6.3 percent in the first quarter, a slower
rate than the preceding three months, paced by consumer spending
and exports of goods and services.

The rate eased from a revised 7.3 percent increase in the
fourth quarter, when the economy rebounded from a slowdown caused
by last year's Lebanon conflict, the Jerusalem-based Central
Bureau of Statistics said on its Web site today. The median
forecast of six economists in a Bloomberg survey had been for 6.4
percent annualized growth.


Read more at Bloomberg Emerging Markets News

US-Cuba food trade survives political hurdles

(Reuters) - Cuba expects to sign deals worth $150 million with American food producers at talks starting on Monday that point to sustained U.S. interest in the Cuban market despite political hurdles.

Uncertainty over the fate of ailing Cuban leader Fidel Castro caused a "hiccup," trade consultant Kirby Jones said, but business has continued seamlessly under the caretaker government of his brother Raul Castro, and is picking up.


Read more at Reuters Africa

Egyptian Stocks Gain a Fourth Day, Led by Telecom Egypt, Orascom Telecom

(Bloomberg) -- Egyptian stocks rose for a fourth
day, led by Telecom Egypt, the largest fixed-line telephone
company in the Middle East, and Orascom Telecom Holding SAE.

The CASE 30 Index added 0.7 percent to 7597.34 at 10:51
a.m. in Cairo as 20 stocks rose, four fell and six were
unchanged. The benchmark has climbed 1.9 percent in the past
four days.


Read more at Bloomberg Stocks News