Japan Shares Climb for Sixth Day; Sony Leads Gains on Yen, Retailers Rise

(Bloomberg) -- Japanese shares rose for a sixth day,
matching the longest winning streak of the year. Sony Corp. led
gains on speculation the yen's slump against the dollar and euro
boosted profits in the three months ended June.

Retailers climbed, led by Seven & I Holdings Co., after
companies including Aeon Mall Co. reported higher income in the
first quarter.


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Gold little changed, but supported by oil prices

(Reuters) - Gold was little changed on Thursday as traders adjusted positions following gains this week, with precious metals in general supported by lingering security concerns and strength in energy prices.

Japanese gold futures edged up, but traders were reluctant to take large new positions ahead of monetary policy meetings by the Bank of England and European Central Bank later in the day.


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California Calpine Sutter natgas plant returns

(Reuters) - A megawatt in California can supply between 650 and 700
average homes, but supplies less homes during high heat of
summer.




Thursday peak demand in California is expected to be about
45,000 MW, down from an estimate from earlier this week of
47,000 MW, the Cal ISO said on Wednesday.


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Siemens, Deutsche Boerse, Solarworld and Repower: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 0.1 percent to 8072.78. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX climbed
0.3 percent to 8075.26 on the Xetra electronic-trading system.


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China's CSI 300 Index Slides to Lowest in a Month; Sinopec, Baoshan Drop

(Bloomberg) -- China's stocks fell to the lowest in
a month as new share sales heightened concern that funds will be
will drained from existing equities and a state agency called on
policy makers to take action to damp short-term speculation.

China Petroleum & Chemical Corp. and Baoshan Iron & Steel
Co. were among the biggest contributors to today's decline.


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Philippine June Inflation Unexpectedly Drops to 2.3 Percent on Peso Gains

(Bloomberg) -- Philippine inflation unexpectedly
slowed in June as the peso's gains held down the cost of imports
and curbed price increases amid higher oil prices.

Consumer prices rose 2.3 percent from a year earlier,
falling from 2.4 percent in May, the National Statistic Office
said today in Manila. The median estimate of 14 economists
surveyed by Bloomberg News was a 2.5 percent rate.


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JGBs slip on fall in euro zone bonds, Nikkei rise

(Reuters) - "JGBs opened a bit lower since Bunds fell and are extending
their losses since the Nikkei is rising," said a senior trader
for a major Japanese bank.




September 10-year JGB futures fell 0.15 point to 131.75
as of 0054 GMT, pulling away from a three-week high of
132.23 hit on Monday.


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South Korean Stocks Gain; Led by Samsung Electronics, Daewoo Shipbuilding

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.09 percent at 9:05 a.m.

The index of 731 companies traded on the Korea Exchange rose
1.63 to 1,840.04. Among the stocks in the index, 315 rose, 200
fell and 216 were unchanged.


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Euro Trades Near Record High Versus Dollar, Yen Before ECB Policy Meeting

(Bloomberg) -- The euro traded near a record high
against the dollar and the yen on bets the European Central Bank
will signal at least one more interest-rate increase this year.

The ECB, which economists expect will hold rates at 4
percent today, may say policy is still accommodative and
inflation is a concern. The euro has gained 3.2 percent versus
the dollar this year as the spread between German and U.S. two-
year notes declined to the narrowest in 2 1/2 years. The British
pound was close to the strongest in 26 years on speculation the
Bank of England will lift borrowing costs today.


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Japanese Yen, Malaysian Ringgit, Philippine Peso: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


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Mexican stocks rise, driven by America Movil

(Reuters) - The benchmark IPC stock index moved up 0.26 percent
to 32,201.63 points, while the peso weakened
slightly, giving up 0.05 percent in local trading to 10.77 per
dollar.




Trading volume was low as investors in the United States,
who are big players in Mexican markets, stayed away for the
U.S. Independence Day holiday.


Read more at Reuters.com Bonds News

Canadian Energy Stocks Drop as Natural Gas Falls; Shares of Telus Advance

(Bloomberg) -- Canadian energy stocks fell, led by
EnCana Corp., after the price of natural gas retreated. The
Standard & Poor's/TSX Composite Index was little changed as
telephone stocks led by Telus Corp. gained on speculation more
companies in the industry will be acquired.

The S&P/TSX added 3.3 to 14,068.04 as of 1:19 p.m. in
Toronto. It gained 2.5 percent in the previous two sessions after
Research In Motion Ltd. reported profit that topped analysts'
forecast and BCE Inc. agreed to the largest buyout.


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S.African shares creep higher, Implats jumps

(Reuters) - South African shares inched higher on Wednesday in thin trading as Impala Platinum gained amid talk of sector consolidation.

The Top-40 blue chip index gained 0.35 percent to 26,082.29 points while the broader All-Share index added 0.31 percent to 28,844.31 points.


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Egypt's CASE30 Index hits year closing high

(Reuters) - Egyptian shares continued to rise on Wednesday as the well-watched CASE30 index hit a new closing year high buoyed by optimism in the international equities market and high expectations for Egypt's Orascom Construction, traders said.

Orascom Construction (OCI), which together with Orascom Telecom makes up 50 percent of the CASE30 index, had reached a closing life highs, said Ahmed el Hifnauy of EFG-Hermes.


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Canadian Stocks Fall for First Time in Three Days; Potash Shares Decline

(Bloomberg) -- Canadian stocks fell for the first
time in three days, led by Potash Corp. of Saskatchewan Inc. and
Research In Motion Ltd.

The Standard & Poor's/TSX Composite Index declined 10.65, or
0.1 percent, to 14,054.09 as of 9:49 a.m. in Toronto.


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Lead Rises to Record for a Third Day Amid Supply Disruption; Copper Climbs

(Bloomberg) -- Lead climbed to a record for a third
consecutive day in London on speculation that supply disruptions
and slowing production of the metal in China, the world's
largest producer, will curb output. Copper and aluminum gained.

Production growth of refined metal in China has slowed this
year because of a dearth of lead concentrate, a raw material
that is smelted into metal, Standard Bank Group Ltd. said in a
report. The shortage has been exacerbated by a stoppage at
Ivernia Inc.'s Australian mine, which halted deliveries in March
following a lead-poisoning investigation, the bank said.


Read more at Bloomberg Commodities News

Global Stocks Advance, Led by Accor, Samsung, on M&A, North Korean Offer

(Bloomberg) -- Stocks rose around the world as the
$20 billion purchase of Hilton Hotels Corp. sparked a rally in
European hotel shares and Asian exporters gained on signs of
diminishing tension in the Korean peninsula.

Shares of Accor SA, Europe's largest hotel company, and
InterContinental Hotels Group Plc, the owner of the Holiday Inn
chain, posted the biggest gains in Europe after Hilton agreed to
be taken private by Blackstone Group LP. Samsung Electronics Co.
and Kookmin Bank led Asian stocks higher after North Korean
leader Kim Jong Il signaled he is ready to begin dismantling the
communist state's nuclear weapons program.


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Rexam Buys Russian Beverage-Can Maker Rostar for $297 Million From En+

(Bloomberg) -- Rexam Plc, the world's biggest maker
of cans for the beverage industry, agreed to buy Russia's Rostar
for $297 million, extending its presence in emerging markets.

The purchase, which includes debt, will be completed in the
fourth quarter and boost profit next year, London-based Rexam
said today in a statement distributed by the Regulatory News
Service. Rostar is owned by En+ Group Ltd., the parent company
of United Co. Rusal, the world's biggest aluminum producer.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Lundbeck targets M&A after drug pipeline setbacks

(Reuters) - COPENHAGEN/LONDON, July 4 - Danish drugmaker
Lundbeck -- hit by recent pipeline failures -- faces a
looming revenue crisis and is preparing for acquisitions, its
chief executive said in an interview published on Wednesday.




"It's definitely not a catastrophe or a deep crisis. But a
crisis, yes," Claus Braestrup told the Danish daily
Jyllands-Posten.


Read more at Reuters.com Mergers News

India, Pakistan May Be Swarmed by Locusts `Within Days,' UN Group Predicts

(Bloomberg) -- Desert locust swarms capable of
destroying agricultural crops may reach India and Pakistan ``in
the next days'' from Ethiopia and Somalia, the United Nations'
Food and Agriculture Organization said.

Recent heavy rainfall in Pakistan and western India has
created ``unusually favorable breeding conditions'' for locusts
until October along both sides of the Indo-Pakistan border and in
coastal areas of western Pakistan, the Rome-based organization
said today in an e-mailed press release.


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South Africa's Rand Holds Above 7 per Dollar on Outlook for Interest Rates

(Bloomberg) -- South Africa's rand rose on
speculation the country's central bank will keep raising interest
rates, boosting the yield advantage of local assets.

The currency of Africa's largest economy held above 7 per
dollar for a third day as prices for the commodities that make up
about a fifth of exports rose, helping to boost the stock
exchange. The rand may extend gains on speculation rising oil
prices will underpin arguments for higher rates next month.


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FTSE 100 Gains, Paced by InterContinental, Property Stocks on Hilton Sale

(Bloomberg) -- U.K. stocks climbed, led by
InterContinental Hotels Group Plc after U.S. rival Hilton Hotels
Corp. agreed to be taken private. Whitbread Plc and Punch Taverns
Plc paced travel and leisure stocks higher.

British Land Co. Plc led property stocks higher following a
report that U.K. house-price growth accelerated in June. Rexam
Plc advanced after the company agreed to buy its Russian rival.


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European Stocks Rise, Led by Hotel Companies; InterContinental, Accor Jump

(Bloomberg) -- European stocks gained for a second
day, led by hotel companies after Hilton Hotels Corp. of the U.S.
agreed to be taken private by buyout firm Blackstone Group LP,
reviving takeover speculation in the industry.

InterContinental Hotels Group Plc, the owner of the Holiday
Inn chain, and Accor SA, Europe's largest hotel company, surged.
Deutsche Telekom AG climbed after Credit Suisse Group raised its
recommendation for the telecommunications industry.


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European Stocks Rise, Led by Deutsche Telekom; Adecco, Vedior Decline

(Bloomberg) -- European stocks gained for a second
day, led by Deutsche Telekom AG after Credit Suisse Group raised
its recommendation for the telecommunications industry.

Adecco SA, the world's biggest temporary employment agency,
and Vedior NV, the fourth-largest, dropped after Deutsche Bank AG
downgraded both stocks. InterContinental Hotels Group Plc led
hotel shares higher after Hilton Hotels Corp. of the U.S. agreed
to be taken private by buyout firm Blackstone Group LP.


Read more at Bloomberg Stocks News