European Mining Stocks May Gain, Led by Rio; Marks & Spencer Might Advance

(Bloomberg) -- European mining stocks may rise for a
ninth day after UBS AG lifted its share-price forecasts for Rio
Tinto Group and Antofagasta Plc.

Marks & Spencer Group Plc may climb after first-quarter
domestic sales beat analysts' estimates. Royal Numico NV may jump
after Groupe Danone SA said it offered to buy the company for 12.3
billion euros ($16.8 billion) after the market close yesterday.
Solarworld AG might drop after UBS downgraded the stock.


Read more at Bloomberg Stocks News

Dollar Rises Versus Euro Before Fed Chairman Bernanke Speaks on Inflation

(Bloomberg) -- The dollar strengthened versus the
euro and erased a loss against the yen before a speech by Federal
Reserve Chairman Ben S. Bernanke, who may say rising prices in
the world's largest economy are still a concern.

The U.S. currency rose for a second day against the euro as
traders pared bets the Fed will cut the benchmark interest rate
this year. The central bank said a moderation in inflation hasn't
been ``convincingly demonstrated'' after it left rates at 5.25
percent on June 28. The yen also gained against higher-yielding
currencies as traders unwound so-called carry trades.


Read more at Bloomberg Currencies News

Carlyle agrees to invest $657 mln in Taiwan bank

(Reuters) - The deal comes as consolidation speeds up in the island's
banking sector, Asia's fourth-biggest, with foreign banks and
private equity funds looking for value in the industry that has
largely emerged from a consumer credit crunch that dragged down
banking stocks to almost the lowest valuations in the region.







Read more at Reuters.com Mergers News

U.K. Pound May Gain on Speculation Spending Growth to Spur More Rate Rises

(Bloomberg) -- The pound may gain for a second day
versus the dollar on speculation signs of continued growth in
U.K. consumer spending will prompt the central bank to raise
interest rates again this year.

The U.K. currency is near its strongest since June 1981 on
investor bets the Bank of England hasn't finished lifting
borrowing costs, after raising its main rate for a fifth time in
a year last week to 5.75 percent. Retail sales in Europe's second
largest economy rose 3 percent in June, compared with growth of
1.8 percent a month earlier, the British Retail Consortium said.


Read more at Bloomberg Currencies News

Bank of Japan Will Probably Keep Key Rate at 0.5 Percent, Move in August

(Bloomberg) -- The Bank of Japan will probably keep
its benchmark interest rate unchanged this week as it awaits
more proof that economic growth will be sustained and inflation
will take hold.

Governor Toshihiko Fukui and his policy colleagues will
hold the key overnight lending rate at 0.5 percent at the
conclusion of a two-day meeting on July 12, according to all 43
economists surveyed by Bloomberg News. The bank last raised the
rate, still the lowest among major economies, in February.


Read more at Bloomberg Bonds News

Asian shares slip from peaks; eye Bernanke

(Reuters) - Japan's Nikkei average fell 0.3 percent, retreating from a seven-year closing high the previous session, as a modest rally in the yen prompted on profit taking in exporters such as Honda Motor Co. Ltd. .




By 0310 GMT, MSCI's broadest index of shares elsewhere in Asia was down 0.1 percent at 488.3, after earlier touching a record high of 489.13 points.


Read more at Reuters.com Hot Stocks News

JGBs edge lower on caution ahead of 5-year offer

(Reuters) - JGB futures gained some reprieve in early trade after falling
for four straight sessions, getting a slight boost from gains in
U.S. Treasuries on Monday.




But the rise in JGBs never gained much momentum, and futures
later dipped into negative territory as investors braced for the
results of an offer by the Ministry of Finance of 2.0 trillion
yen in five-year JGBs with a 1.5 percent coupon.


Read more at Reuters.com Bonds News

SK Telecom Denies It May Bid for Sprint, a Company Three Times Its Size

(Bloomberg) -- SK Telecom Co., South Korea's largest
mobile carrier, denied a Korea Economic Daily report that it may
acquire Sprint Nextel Corp., a U.S. wireless company valued at
$63 billion. The Korean company's stock rose 4.2 percent.

``It is totally groundless,'' SK Telecom spokesman Song
Gwang Hyun said from Seoul today. ``We've never considered the
plan.'' Sprint spokesman James Fisher said the Reston, Virginia-
based company never comments on ``rumor or speculation.''


Read more at Bloomberg Emerging Markets News

Japan's Stocks Fall, Led by Exporters on Yen; Kawasaki Heavy, Traders Gain

(Bloomberg) -- Japanese stocks declined, paced by
exporters including Canon Inc. after the yen strengthened against
the dollar and euro.

Shares of Japan's largest companies such as Toyota Motor
Corp. also declined as investors considered yesterday's gains may
have outstripped earnings outlooks. The Nikkei 225 Stocks Average
climbed to a seven-year high.


Read more at Bloomberg Stocks News

Neuberger Berman settles with Full Value

(Reuters) - Under the proposal, NRL would liquidate its stock and
distribute the net proceeds to shareholders.




Read more at Reuters.com Mergers News

Marathon Oil second-quarter production declines

(Reuters) - Marathon said it estimates it sold about 336,000 boepd in
the quarter.




Read more at Reuters.com Market News

Sprint Shares Advance After Buyout Report, Alcoa Slides: U.S. After-Hours

(Bloomberg) -- Sprint Nextel Corp. shares advanced in
extended U.S. trading following a report that South Korea's SK
Telecom Co. plans to buy the third-biggest U.S. mobile-phone
company. SK Telecom denied the report.

Shares of Reston, Virginia-based Sprint added $1.52, or 7.1
percent, to $23 as of 6:58 p.m. in New York. They surged as much
as 16 percent. Sprint's market value was $63 billion as of the 4
p.m. market close.


Read more at Bloomberg Stocks News

Citigroup CEO sees no end soon to buyout boom--FT

(Reuters) - He denied Citigroup was pulling back, the newspaper said.




"When the music stops, in terms of liquidity, things will
be complicated," he said. "But as long as the music is playing,
you've got to get up and dance. We're still dancing."


Read more at Reuters.com Bonds News

Malaysia Airports group wins Istanbul airport deal

(Reuters) - The winner will build a new international terminal at the
Sabiha Gokcen airport on Istanbul's Asian side and operate the
airport for 20 years.




The other bidders were:


Read more at Reuters.com Mergers News

Venezuela Bolivar Advances as Government Plans to Sell Local Currency Debt

(Bloomberg) -- Venezuela's currency strengthened in
unregulated trading as the government said it will sell bonds to
local investors and slow spending in an attempt to drain cash
from the economy and reduce demand for dollars.

Finance Minister Rodrigo Cabezas said yesterday Venezuela
plans to sell $2.8 billion of dollar and bolivar bonds in the
second half of the year. Cabezas also said the government will
use ``fiscal responsibility'' to lower the amount of money in
circulation and slow inflation.


Read more at Bloomberg Currencies News

ICE tells CBOT it created additional value

(Reuters) - Sprecher also commended ICE shareholders, saying, "We have
shown our ability to leverage our position as one of the
fastest growing, most global and most technologically
sophisticated exchanges."




Read more at Reuters.com Mergers News

U.S. image sinks but American goods keep selling

(Reuters) - Those figures run counter to the global image of America. A
47-country survey released in late June by the Pew Global
Attitudes Project documented wide anti-American sentiment since
the survey was launched in 2002 and found those attitudes
deepening this year.




The United States' favorable ratings declined in 26 of the
33 countries for which a comparison was available, with
negative views particularly strong in the Middle East.


Read more at Reuters.com Bonds News

CME chairman says CBOT shareholders OK merger

(Reuters) - "Today has been a long time in coming," Duffy said.




The $11.9 billion merger will put the two largest U.S. futures exchange together under one roof.


Read more at Reuters.com Mergers News

Schultze Master Fund sells Movie Gallery shares

(Reuters) - Standard & Poor's on July 5 lowered its rating for the
movie rental chain deeper into junk territory, citing the
company's failure to meet financial covenants and consideration
of strategic alternatives.




Shares of Movie Gallery were down 1 cent, or 1.6 percent,
to 62 cents in Monday afternoon trading on Nasdaq.


Read more at Reuters.com Bonds News

ICE won't say if it will offer higher bid for CBOT

(Reuters) - "I can't talk about it. Give me a break," ICE Chairman Jeffrey Sprecher told Reuters before testifying at a Senate hearing on excessive speculation in U.S. natural gas markets.




Sprecher also declined to say if the ICE would wait to make a decision on whether to make a new bid until after CBOT shareholders finish voting on Monday on the CME's offer.


Read more at Reuters.com Mergers News

Rosetta Resources says CEO Berilgen resigns

(Reuters) - Berilgen has agreed to assist the company in connection with matters involving Calpine, the company said.




The company named Executive Vice President Charles Chambers as acting president and CEO.


Read more at Reuters.com Bonds News

Sprint ditches customers who complain too much

(Reuters) - "These customers were calling to a degree that we felt was excessive," said Sprint spokeswoman Roni Singleton, adding the company needed to cull its customer base to improve services.




"In some cases they were calling customer care hundreds of times a month for a period of six to 12 months on the same issues even after we felt those issues had been resolved," she said.


Read more at Reuters.com Business News

U.S. Stocks Gain, Paced by Alcoa, Intel; S&P 500 Index Climbs for 5th Day

(Bloomberg) -- U.S. stocks rose and the Standard &
Poor's 500 Index gained for a fifth straight day on speculation
second-quarter earnings will beat analysts' estimates.

Alcoa Inc., the first Dow Jones Industrial Average company
scheduled to report results, paced the 30-stock gauge's
advance. The world's second-biggest aluminum maker will
announce its results after the close of trading. Intel Corp.
climbed after UBS AG and JPMorgan said the world's largest
chipmaker may report earnings at the high end of its forecast.


Read more at Bloomberg Stocks News

Huntington sees Q2 profit below view

(Reuters) - The announcement, which sent its shares down as much as 4.7 percent, is evidence that a contraction in home prices and weakening credit quality may be affecting banks' bottom lines.




Last week, the American Bankers Association, a trade group, said U.S. consumer delinquencies were at their highest level since the second quarter of 2001, when the economy was in recession.


Read more at Reuters.com Bonds News

Jaguar, Land Rover interest seen limited -sources

(Reuters) - Among the suitors who have been sent informal information by
the U.S. car company's advisers are buyout firms Cerberus,
Ripplewood and One Equity, said one of the sources.




However, unsuccessful bidders for Aston Martin including
Syrian-born tycoon Simon Halabi and UK buyout firm Doughty
Hanson have no plans to express interest in Jaguar and Land
Rover when initial indications of value are due to Ford on July
19, the sources said.


Read more at Reuters.com Mergers News

US STOCKS-Blue chips edge up; Lexmark stirs caution

(Reuters) - NEW YORK, July 9 - U.S. blue chips edged higher
on Monday, helped by a gain in Boeing Co. , but
disappointing earnings outlooks from printer maker Lexmark Inc.
and others limited the market's advance.




As the second-quarter earnings season got under way,
Lexmark and Children's Place , the apparel retailer,
tempered hopes that profits might be surprisingly strong.


Read more at Reuters.com Bonds News

RBS sets $1.35 bln trading JV with Sempra

(Reuters) - NEW YORK, July 9 - The Royal Bank of Scotland Group will spend $1.35 billion to take a majority stake in a commodity trading joint venture with U.S. Sempra Energy , the two companies said on Monday.



The deal will allow enable Sempra's trading arm, already one of the most active traders in North American and London commodities and energy, to move more quickly into international markets.


Read more at Reuters.com Mergers News

LaBranche to launch strategic review, shares up

(Reuters) - The company also said it would sell its equity specialist operation on the American Stock Exchange and report a second-quarter net loss due to charges related to its stake in NYSE Euronext .




The company said it expects to incur a substantial non-cash charge for a writedown of its intangible assets related to its specialist business.


Read more at Reuters.com Business News

Nuclear Cost Proves Prohibitive for Utilities as TVA Drives U.S. Revival

(Bloomberg) -- President George W. Bush plunged into
the cotton fields of northern Alabama last month to fete the
restart of the Tennessee Valley Authority's oldest, most
troubled nuclear reactor after a $1.8 billion renovation.

``We want to start building plants,'' said Bush, whose
administration is promoting loan guarantees and tax breaks to
get the first new U.S. reactors constructed since 1996.


Read more at Bloomberg Exclusive News

Most U.S. Stocks Drop; Shares of Lexmark International, Tyco Retreat

(Bloomberg) -- Most U.S. stocks fell after Lexmark
International Inc. said second-quarter profit missed the
company's forecast and Citigroup Investment Research downgraded
Tyco International Inc.

Lexmark, the second-biggest U.S. printer maker, posted the
steepest drop in the Standard & Poor's 500 Index after it said
a slump in its consumer business will continue this quarter.
Tyco, the world's largest maker of security and fire systems,
slid after Citigroup lowered its rating on the shares to
``sell'' from ``hold.''


Read more at Bloomberg Stocks News

UPDATE 1-Biomet in talks to resolve U.S. consulting probe

(Reuters) - The discussions aimed at a potential resolution to the
investigation are in preliminary stages and could result in the
payment of fines or a change in business practices, Biomet said
in a federal filing.




A spokesman for the U.S. Attorney was not immediately
available to comment.


Read more at Reuters.com Government Filings News

UPDATE 2-Mexico June consumer prices up 0.12 pct vs May fall

(Reuters) - Closely watched core inflation, which strips out volatile
food and energy prices, was 0.30 percent in June, the central
bank said on Monday.




Twelve-month inflation was 3.98 percent in June, up
slightly from 3.95 percent the month before and just below 4
percent, the limit of what the bank considers acceptable.


Read more at Reuters.com Bonds News

Advantage Energy to buy Sound Energy Trust

(Reuters) - Sound unitholders can choose to have each Sound unit
exchanged for 0.30 of an Advantage unit, or receive 66 Canadian
cents in cash and 0.2557 of an Advantage Unit.




The transaction exchange ratio reflects a premium to Sound
unitholders of 11.3 percent, based on the respective closing
price for each trust on July 6, 2007, Advantage said.


Read more at Reuters.com Mergers News

Home Depot's Shares Raised to `Buy' at Goldman Sachs on New Management

(Bloomberg) -- Home Depot Inc., the world's largest
home-improvement retailer, was raised to ``buy'' by Goldman,
Sachs & Co. on speculation that new management may take more
measures to boost the company's share price.

The company, previously rated ``neutral,'' will benefit from
Chief Executive Officer Frank Blake's focus on retail operations,
analyst Matthew Fassler wrote in a note to investors. Blake, who
replaced Robert Nardelli in January, ``has no agenda beyond
driving a higher stock price,'' Fassler wrote.


Read more at Bloomberg Stocks News

Biomet in talks to resolve U.S. consulting probe

(Reuters) - The discussions aimed at a potential resolution to the investigation are in preliminary stages and could result in the payment of fines or a change in business practices, Biomet said in a federal filing.



Biomet received subpoenas in March 2005 relating to consulting agreements the companies make with surgeons, including contracts for surgeons to teach other doctors how to use its devices.


Read more at Reuters.com Government Filings News

Qatar Airways confirmed as buyer of the Boeing 787

(Reuters) - An order for 30 787s, worth almost $5 billion at list prices, was recorded on Boeing's online order book in April, attributed to an unidentified customer. People familiar with the deal have said Qatar was the buyer.




The Boeing spokesman declined to comment on that deal.


Read more at Reuters.com Business News

Topps board asks stockholders to reject Upper Deck offer

(Reuters) - In June, Upper Deck had said it would launch a hostile
tender offer to acquire Topps for $10.75 a share, or about $425
million in cash.





Read more at Reuters.com Mergers News

US STOCKS-Futures rise on profit hopes, FedEx

(Reuters) - NEW YORK, July 9 - U.S. stock futures rose on
Monday as investors were optimistic about quarterly earnings at
the start of the reporting season and about economic growth.




Deal speculation also lent support, with shares of FedEx
Corp. up 2 percent before the opening bell on a
published report the package delivery company could become a
takeover target pursued by private equity buyers.


Read more at Reuters.com Bonds News

Nigeria cocoa plantations hit by black pod disease

(Reuters) - Black pod disease has hit Nigerian cocoa plantations, raising fears of a further drop in output already cut by drier-than-normal weather earlier this year, the main growers' group said on Monday.

Akinwale Ojo, executive secretary of the Cocoa Association of Nigeria (CAN), said the disease was caused by heavy rainfall and a scarcity of chemicals to spray infected trees in the southwest cocoa farming region.


Read more at Reuters Africa

Central European Stocks Gain, Led by PKN Orlen; Telekom Austria Jumps

(Bloomberg) -- Central European shares rose for a
second day, paced by PKN Orlen SA after the Polish edition of
Newsweek magazine reported the country's largest oil company
wants to merge with a local competitor.

Telekom Austria AG jumped after the biggest Austrian phone
company raised its profit forecast.


Read more at Bloomberg Stocks News

Lexmark cuts second-quarter earnings outlook

(Reuters) - The outlook includes an expected tax benefit of about 5
cents a share, Lexmark said in a statement.




Earlier the company had forecast earnings of 82 cents to 92
cents a share for the second quarter.


Read more at Reuters.com Business News

Albania to Sell First International Bonds in 2008, Central Bank Chief Says

(Bloomberg) -- Albania, Europe's poorest country, will
sell foreign currency bonds for the first time next year to raise
money for new roads and power plants, central bank Governor Ardian
Fullani said.

The government of the former communist nation, where a quarter
of the population lives in poverty, will discuss the size, currency
and timing of the sale with the International Monetary Fund in the
coming months, Fullani said in an interview in Athens on July 6.


Read more at Bloomberg Emerging Markets News

European Stocks Advance, Led by Numico, Telekom Austria, BHP Billiton

(Bloomberg) -- European stocks climbed for a second
day as takeover speculation lifted food and beverage shares and a
higher profit forecast from Telekom Austria AG sparked a rally in
telephone companies.

Royal Numico NV jumped to the highest in six years on
speculation Europe's biggest baby-food maker may receive a takeover
bid. Telekom Austria, the largest Austrian phone operator, surged
the most in more than two months. BHP Billiton Ltd. paced an
advance by mining companies after a strike in Chile sent copper
prices higher.


Read more at Bloomberg Stocks News

Norddeutsche Affinerie still plans Cumerio merger

(Reuters) - "We have not received any new information regarding the
plans of A-TEC," she added.




Kovats, whose firm controls 15 percent of Norddeutsche
Affinerie, has built up a blocking stake of 25 percent plus one
share in Cumerio ever since Marnette announced a deal to buy the
Belgian rival for 777 million euros in equity.


Read more at Reuters.com Mergers News

Yen Falls to Record Against Euro as Stock Gains Lure Japanese Funds Abroad

(Bloomberg) -- The yen fell to a record low against
the euro as stocks in Asia and Europe climbed, luring Japanese
investors to overseas assets.

The Japanese yen slid against the nine most actively-traded
currencies as indexes of Australian and Hong Kong shares rose to
all-time highs and a gauge of Thai equities was at its strongest
in 10 years. Investors in Japan bought a net 103.3 billion yen
($840 million) of foreign stocks in the week ended June 30, the
Ministry of Finance said in Tokyo on July 5.


Read more at Bloomberg Currencies News

Microsoft says no plans to cut Xbox Japan price

(Reuters) - But he later added, "We will be watching market conditions. Price cuts are one option."




Although popular in the United States, sales of the Xbox 360 have been slow in Japan, Nintendo and Sony's home turf.


Read more at Reuters.com Business News

German 2008 Power Climbs to Week-High as Europe Emission Permit Costs Gain

(Bloomberg) -- German electricity for delivery next
year advanced for a third day as the price of carbon dioxide
emission allowances rose, increasing the cost of generating power
by burning fossil fuels.

Next-year baseload power prices in Germany, Europe's biggest
electricity market, gained as much as 20 cents, or 0.4 percent,
to 56.10 euros ($76.50) a megawatt-hour as of 9:40 a.m. in
Berlin, according to broker GFI Group Inc. That's the highest
since July 3. Baseload refers to power delivered round the clock.


Read more at Bloomberg Energy News

European stocks rise in early trade, Univar surges

(Reuters) - At 0711 GMT, the pan-European FTSEurofirst 300 index was up 0.37 percent at 1,625.65 points.




"Positive U.S. jobs data on Friday put us in a good mood, but there were concerns about oil, which puts pressure on underlying commodity costs," said Justin Urquhart Stewart, director at 7 Investment Management.


Read more at Reuters.com Hot Stocks News

Hong Kong Stocks Climb for Fifth Day; Sun Hung Kai, Cheung Kong Advance

(Bloomberg) -- Hong Kong stocks rose, driving the Hang
Seng Index to a record for a fifth day. Sun Hung Kai Properties
Ltd. climbed after the South China Morning Post said the company
sold a house at a record price.

``We favor Hong Kong developers because the property market
is rebounding, in particular, luxury property prices are on a
rising trend,'' said Mona Chung, who helps manage more than $1.2
billion at Daiwa Asset Management Ltd. in Hong Kong.


Read more at Bloomberg Stocks News

Gold ticks up on oil, TOCOM jumps 1 percent

(Reuters) - Gold crawled higher on Monday on bullish energy prices and slight falls in the dollar, while the benchmark futures on the Tokyo Commodity Exchange jumped 1 percent to the highest since June 20.

By 0640 GMT, cash gold was trading at $654.50/655.20 an ounce, slightly up from $653.80/654.60 late in New York on Friday, when it rose more than $4 an ounce.


Read more at Reuters Africa

Pound May Gain Versus Dollar as Interest-Rate Outlook Spurs Carry Trades

(Bloomberg) -- The pound may gain for a fifth week,
its best performance in more than a year, as expectations the
higher yield advantage the U.K. currency offers over other major
currencies spurs carry trades

The U.K. currency traded near its strongest since June 1981
after the Bank of England raised interest rates last week for a
fifth time in 12 months to 5.75 percent, its highest in six
years. Carry trades involve borrowing in low-yielding currencies
to fund higher yielding investment elsewhere.


Read more at Bloomberg Currencies News