Oil firms, awaiting crude stock draw, fuel build

(Reuters) - Oil prices edged up on Wednesday after two days of losses as traders awaited the release of U.S. weekly inventory data for further proof that recovering refinery operations had lifted gasoline supplies.

London Brent crude for September, seen as a better benchmark of oil prices at the moment, rose 15 cents at $75.68 a barrel after falling 76 cents a day ago as it tumbled further from Monday's $78.40 peak, near last August's record high.


Read more at Reuters Africa

Japan's Bonds Rise as Stock Slump Boosts Investor Demand for Fixed Income

(Bloomberg) -- Japan's bonds rose as falling stocks
and losses at hedge funds run by Bear Stearns Cos. prompted
investors to seek the relative safety of government debt.

``Concerns that subprime problems will slow the U.S. housing
market haven't been fully erased yet,'' said Naomi Hasegawa, a
senior debt strategist at Mitsubishi UFJ Securities Co. in Tokyo,
the third-largest buyer at debt auctions. ``Along with declines
in stocks, that will probably help fuel demand for bonds.''


Read more at Bloomberg Bonds News

Movil Access, Perdigao, Petrobras, Tam: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Argentina, Brazil and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Accor, ASML, BNP, E.ON, Faurecia and Fortum Oyj: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 fell 0.5 percent to 397.79. The Dow
Jones Stoxx 50 Index declined 0.4 percent to 3982.39. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
dropped 0.4 percent to 4538.31.


Read more at Bloomberg Stocks News

Platinum Futures Gain in Tokyo as Union Rejects Northam Pay Increase Offer

(Bloomberg) -- Platinum futures rose in Tokyo after
Northam Platinum Holdings Ltd. said its offer to increase wages
was rejected, raising concern that output in South Africa, the
world's largest producer, may be disrupted by possible strikes.

Northam, operator of the world's deepest platinum mine, said
yesterday that unions didn't accept its proposal to increase
wages by between 9 percent and 10 percent.


Read more at Bloomberg Commodities News

Kingboard Chemical, Sri Lanka, Cikarang Listrindo, Mizuho: Asia Bond Alert

(Bloomberg) -- PT Cikarang Listrindo, an independent
power producer, and Azgard Nine Ltd., a Pakistani maker of
textiles and fertilizer, are among borrowers seeking to sell at
least $7 billion of bonds in Asia, according to data compiled by
Bloomberg.

Governments and companies in Asia sold $44 billion of debt
denominated in dollars, euros and yen this year, up from $37.5
billion a year earlier, Bloomberg data show. Sales of Samurai
bonds, yen debt sold by foreign entities in Japan, rose to 1.4
trillion yen ($11.5 billion), from 741 billion yen in the whole
of 2006.


Read more at Bloomberg Bonds News

JGB futures up on weaker stocks before 30-yr offer

(Reuters) - But cash bonds were mixed and 30-year bonds slipped before
the auction of longer-dated paper as dealers prepared for the
Ministry of Finance's 600 billion yen offering of
the maturity, which is a reopening of the issue first sold in
April.




Analysts said the widespread expectations for the Bank of
Japan to lift interest rates to a 12-year high of 0.75 percent
next month were keeping investors on the sidelines.


Read more at Reuters.com Bonds News

UPDATE 3-Brazilian plane crashes with 176 aboard, kills 3

(Reuters) - SAO PAULO, July 17 - A Brazilian airliner
carrying 176 people crashed and burst into flames on Tuesday at
Brazil's busiest airport, killing at least three people in the
country's second major air disaster in less than a year.




The Airbus A320 was flying into Sao Paulo from Porto Alegre
in southern Brazil when it lost control on landing. It skidded
off the rain-soaked runway and flew over a bustling avenue just
below, slamming into a gas station and cargo terminal.


Read more at Reuters.com Bonds News

South Korea's Kospi Index Slides, Led by Posco; Korea Exchange Bank Climbs

(Bloomberg) -- South Korean stocks retreated for the
second day. Posco slid as investors saw recent gains as an
opportunity to sell, shrugging off the company's highest quarterly
profit in two years.

Korea Exchange Bank advanced after a U.K. newspaper reported
HSBC Holdings Plc is interested in buying the lender. KT&G Corp.
gained after the Maeil Business Newspaper said the company wanted
stake-swaps to help defend against hostile bids.


Read more at Bloomberg Stocks News

UPDATE 2-Brazilian plane crashes with 174 on board

(Reuters) - SAO PAULO, July 17 - A Brazilian passenger plane
carrying 174 people crashed into a fuel station and set off a
huge fire at Sao Paulo's Congonhas airport on Tuesday, killing
at least one person.




Airport officials said 174 passengers and crew were on
board the Airbus A320 flying from Porto Alegre in southern
Brazil when it lost control on landing and skidded off the wet
runway.


Read more at Reuters.com Bonds News

Bear Stearns Tells Investors in One Hedge Fund They Won't Get Money Back

(Bloomberg) -- Bear Stearns Cos. told investors in
one of its hedge funds that they won't get any money back after
creditors forced it to sell assets at depressed prices to repay
loans, according a letter sent by the firm.

While there's ``very little value for the investors'' in the
second fund, Bear Stearns said in the letter it doesn't expect to
sustain losses on the $1.6 billion in emergency funding it
provided last month. That fund contains ``sufficient assets'' to
cover the $1.4 billion it still owes the New York-based firm,
according to the letter.


Read more at Bloomberg Bonds News

UPDATE 2-Senators urge US agencies to finalize Basel II

(Reuters) - WASHINGTON, July 17 - The top Democrat and
Republican on the Senate Banking Committee urged federal
banking regulators on Tuesday to finalize rules for U.S. bank
capital adequacy levels under the international Basel II
framework.




"We both believe strongly that the decisions you take in
the next few days will have a significant impact on both the
safety and soundness and the competitiveness of the U.S.
financial system," Connecticut Democrat Christopher Dodd, the
committee's chairman, said in a letter.


Read more at Reuters.com Government Filings News

Zespri Says Rising New Zealand Dollar Will Crimp Returns From Kiwifruit

(Bloomberg) -- Zespri International Ltd., New
Zealand's biggest kiwifruit exporter, said a surging currency
may cut returns to growers by as much as 20 percent this season.

Grower returns will fall by as much as NZ$1.60 a tray from
about NZ$8 in the year ended March 31 because of the high New
Zealand dollar, Chief Executive Officer Tony Nowell told the
company's annual meeting in Tauranga yesterday. Zespri will try
to offset the loss by cutting costs and raising prices, he said.


Read more at Bloomberg Currencies News

UPDATE 1-Crown Holdings 2nd-quarter profit surges 76 pct

(Reuters) - Net profit jumped to $88 million, or 53 cents per share,
from $50 million, or 29 cents per share, a year ago.




Net sales rose 11.7 percent to $1.99 billion.


Read more at Reuters.com Market News

Medtronic wins U.S. panel support for neck disc

(Reuters) - The panel said approval should come with several conditions, including asking Medtronic to study some patients with the device for 10 years.




The FDA usually follows panel recommendations.


Read more at Reuters.com Government Filings News

Hedge fund gears up to buy subprime bonds, cheaply

(Reuters) - Black Pearl, co-founded by Jim Midanek and John Pak in 2002, will invest up to $500 million in mortgage securities that have been tarnished amid increased risk-aversion in the sector, the managers said in a statement. The subprime market is approaching a point where "widespread price dislocation" is likely, Pak said in the statement.




"Investors need to position capital now to participate in this tactical trade," Midanek said in the statement. "The investment phase of this cycle is nearly upon us."


Read more at Reuters.com Bonds News

Fees bolster Wells Fargo net; other U.S. banks mixed

(Reuters) - Profit rose 9 percent at Wells Fargo, but fell 4 percent at U.S. Bancorp, the fifth- and sixth-largest banks. Earnings rose 31 percent at Regions Financial Corp. and 8 percent at KeyCorp , two big regional banks.




Increasing loan losses, the housing downturn and a flat yield curve, where long- and short-term interest rates are about the same, are pushing banks to seek out more revenue from such areas as credit cards and deposit service charges. Lending margins narrowed at all four banks from the first quarter.


Read more at Reuters.com Business News

Lam, MEMC, Modine, Novellus, Orbital, Skechers: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

American Express Co. (AXP US) rose $2.86, or 4.6 percent, to
$64.74. The No. 4 U.S. credit-card issuer was upgraded to ``buy''
from ``neutral'' at Goldman, Sachs & Co., which said its card-
network business was ``undervalued'' compared with its rivals.


Read more at Bloomberg Stocks News

US STOCKS-Dow ends higher on earnings, M&A activity

(Reuters) - The Dow average crossed the 14,000 level for the first
time during the session, but closed below that mark. The
blue-chip average ended at a new record.




Based on the latest available data, the Dow Jones
industrial average rose 20.57 points, or 0.15 percent,
to end unofficially at 13,971.55. The Standard & Poor's 500
Index was down 0.15 of a point, or 0.01 percent, to
finish unofficially at 1,549.37. The Nasdaq Composite Index
was up 14.96 points, or 0.55 percent, to close
unofficially at 2,712.29.


Read more at Reuters.com Bonds News

Gold edges higher ahead of Federal Reserve minutes

(Reuters) - The metal has struggled to breach key technical levels after hitting a five-week high last week, but might get support from firm oil prices and the dollar, which stayed near record lows against the euro, analysts said.




"The dollar is still the main driver of gold prices and there will be a set of important data points this week, which may influence the euro/dollar and hence gold," said Michael Widmer, research director at Calyon Corporate and Investment Bank.


Read more at Reuters.com Hot Stocks News

US court approves Doral lawsuits settlement

(Reuters) - The lawsuits were filed after Doral's 2005 announcement
that it would need to restate financial statements from 2000 to
2004.





Read more at Reuters.com Mergers News

UPDATE 2-Jefferies profit soars on investment banking

(Reuters) - NEW YORK, July 17 - Jefferies Group Inc. ,
an investment bank focused on mid-sized companies, posted a
larger-than-expected 49 percent increase in second-quarter
earnings on Tuesday driven by its expanding advisory and
underwriting businesses.




Profit rose to a record $67.8 million, or 45 cents a share,
from $45.6 million, or 32 cents a share, a year earlier. That
exceeded the average analysts' estimate of 39 cents a share,
according to Reuters Estimates.


Read more at Reuters.com Bonds News

Southern Copper H1 profit rose significantly - CEO

(Reuters) - Southern Copper is controlled by Grupo Mexico
.




Read more at Reuters.com Market News

US STOCKS-Market up on earnings, deals as Dow tops 14,000

(Reuters) - NEW YORK, July 17 - U.S. stocks rose on Tuesday,
pushing the Dow past the 14,000 mark, as higher-than-expected
earnings and takeover activity eased worries about fallout from
the troubled subprime mortgage market.




A brokerage upgrade of American Express Co. pushed
the credit-card company's stock up 4 percent and helped lift
the Dow average of 30 blue-chip stocks.


Read more at Reuters.com Bonds News

Treasuries Erase Losses as Report Shows Homebuilder Confidence Dropped

(Bloomberg) -- Treasuries were little changed after
an industry report showed confidence among U.S. homebuilders
fell this month to the lowest level in 16 years.

The yield on the benchmark 10-year note rose almost 2 basis
points, or 0.02 percentage point, to 5.06 percent at 1:47 p.m.
in New York, according to bond broker Cantor Fitzgerald LP. Bond
yields and prices move in the opposite direction. The price of
the 4 1/2 percent security due in May 2017 fell 3/32, or 94
cents per $1,000 face amount, to 95 23/32.


Read more at Bloomberg Bonds News

WCE confirms 3rd-party bid to ICE buyout proposal

(Reuters) - In a statement, the WCE said its board of directors
authorized its management to negotiate the third-party bid
after determining that it was "reasonably likely to result in a
superior proposal."




WCE said its arrangement with ICE permits it to accept a
superior proposal, if ICE fails to match the higher price. WCE
would have to pay ICE a termination fee of C$1.2 million.


Read more at Reuters.com Mergers News

UPDATE 1-Assurant CEO and CFO may face SEC civil charges

(Reuters) - Assurant shares slid more than 11 percent on the news, and
at least one bank cut its recommendation on the stock.




In all, five Assurant executives have now received Wells
Notices, which generally signal the intent of the U.S.
Securities and Exchange Commission to recommend civil actions
against them.


Read more at Reuters.com Government Filings News

UPDATE 1-Metronet to file for administration -sources

(Reuters) - LONDON, July 17 - Metronet, the company
maintaining and upgrading nine of London's 12 underground lines,
is to file for administration because of a cash shortage caused
by overspending, sources close to the situation said on Tuesday.




Accountancy firm Ernst & Young [ERNY.UL] is set to be
appointed as the administrator, one of the sources told Reuters.


Read more at Reuters.com Bonds News

Mexican stocks drop, hurt by Cemex losses

(Reuters) - The benchmark IPC stock index slipped 1.2 percent to
31,872 points, while the peso firmed 0.20
percent to 10.759 pesos per dollar after news of
stronger-than-expected U.S. factory output in June.




Shares in Cemex slumped 2 percent to 38.27
pesos on ongoing concerns about problems in the U.S. housing
market. Its U.S.-traded shares were off 1.3 percent at
$35.58.


Read more at Reuters.com Bonds News

Novellus rises on hopes of stabilizing orders

(Reuters) - Rival Applied Materials Inc. saw its shares rise almost 4 percent and Lam Research Corp. stock rose almost 6 percent after the Novellus outlook seemed to suggest that recent manufacturing over-capacity in the chip industry was receding.




"The order guidance was better than some people were expecting," said Stanford Group analyst Timothy Summers, who said Novellus had seen orders decline for three consecutive quarters.


Read more at Reuters.com Hot Stocks News

Nigerian naira firms vs dollar on big forex inflows

(Reuters) - The Nigerian naira firmed to 127.20 to the dollar on the interbank foreign exchange market on Tuesday from 127.23 previously due to high dollar liquidity in the system, traders said.

Dealers said dollar inflows from some oil multinationals and three retail banks, in the face of low corporate demand, helped support the naira.


Read more at Reuters Africa

Wells Fargo profit rises 9 pct to record

(Reuters) - NEW YORK, July 17 - Wells Fargo & Co. , the fifth-largest U.S. bank, said on Tuesday second-quarter profit rose 9 percent, as growth in several fee categories offset a decline in mortgage banking income.



Net income for the San Francisco-based company increased to a record $2.28 billion, or 67 cents per share, from $2.09 billion, or 61 cents, a year earlier. Revenue rose 13 percent to $9.89 billion.


Read more at Reuters.com Mergers News

European Union Carbon Emissions Rebound From 11-Week Low as Coal Declines

(Bloomberg) -- European Union carbon dioxide permits
rebounded from their lowest in 11 weeks as the price of coal
fell, increasing demand for the allowances to burn the fuel at
power plants.

Permits for December 2008 rose as much as 1.9 percent to
19.24 euros ($26.50) a metric ton on the European Climate
Exchange in Amsterdam and traded at 19.05 euros at 3:33 p.m.
local time. They earlier dropped as much as 3.9 percent to their
lowest since April 27.


Read more at Bloomberg Energy News

US STOCKS-Index futures edge up after PPI data

(Reuters) - Dow Jones industrial average futures rose 11 points,
and Nasdaq 100 futures were up 0.5 points.




Read more at Reuters.com Bonds News

US STOCKS-Indexes open up on energy gains, profits

(Reuters) - The Dow Jones industrial average was up 14.72
points, or 0.11 percent, at 13,965.70. The Standard & Poor's
500 Index was up 1.62 points, or 0.10 percent, at
1,551.14. The Nasdaq Composite Index was up 7.58
points, or 0.28 percent, at 2,704.91.




Read more at Reuters.com Bonds News

Answers files for $140 mln in mixed shelf

(Reuters) - Under a shelf registration filed with the U.S. Securities
and Exchange Commission, a company may sell securities in one
or more separate offerings with the size, price and terms to be
determined at the time of sale.





Read more at Reuters.com Government Filings News

First Indiana says to delay Q2 results

(Reuters) - On July 9, Marshall & Ilsley, Wisconsin's largest bank,
agreed to buy First Indiana for about $529 million, or $32 a
share in cash.





Read more at Reuters.com Mergers News

UPDATE 1-Polaris profit beats Street view as margins rise

(Reuters) - Net income rose to $22.7 million, or 62 cents per share,
from $20.6 million, or 48 cents per share, a year earlier.




Profit from continuing operations came to 62 cents per
share, topping analysts' average forecast of 58 cents as
compiled by Reuters Estimates.


Read more at Reuters.com Market News

Angola September crude exports to rise to 1.7 mln bpd

(Reuters) - OPEC member Angola is set to export a record 1.7 million barrels per day of crude oil in September, up 50,000 bpd from the previous month, traders said on Tuesday.

The total is equivalent to around 53 cargoes, unchanged from the last two months.


Read more at Reuters Africa

Plains to buy Pogo for $3.6 billion

(Reuters) - The combined company would have a total estimated reserve potential of 1.4 billion barrels of oil equivalent.







Read more at Reuters.com Mergers News

Novartis aims to resubmit Galvus in U.S. n 2009

(Reuters) - Novartis expects to start a new study in the fourth-quarter this year.



"It will likely take until at least the end of 2008 to complete," Novartis pharma development head James Shannon said on a conference call. "And then we would propose to resubmit the dossier to the FDA sometime in mid-2009."


Read more at Reuters.com Government Filings News

UPDATE 1-Rio Tinto says to unwind Alcan hedgebook

(Reuters) - "Assuming we go through with the deal, it will all be wound
down," a Rio Tinto spokesman said on Monday.




Rio's policy is not to hedge -- make future sales at a known
price -- any of the commodities it produces, and it intends to
bring Alcan into line with this.


Read more at Reuters.com Mergers News

Merrill Lynch Q2 profits rise 31 percent

(Reuters) - The world's largest brokerage said net earnings were $2.1 billion, or $2.24 a diluted share, compared to $1.6 billion, or $1.63, in the year-earlier period.




Analysts, on average, looked for Merrill Lynch to earn $2.02 a share, according to Reuters Estimates.


Read more at Reuters.com Bonds News

Coca-Cola posts profit on emerging markets

(Reuters) - NEW YORK, July 17 - Coca-Cola Co. said on Tuesday second-quarter profit rose slightly, helped by strength in emerging markets such as China, Turkey, India and Brazil.



The world's largest soft-drink maker reported net income of $1.85 billion, or 80 cents per share, up less than 1 percent from $1.84 billion, or 78 cents per share, a year earlier.


Read more at Reuters.com Market News

Brazilian Mining Company Vale Agrees to Explore for Uranium in Australia

(Bloomberg) -- Cia. Vale do Rio Doce, the world's
biggest iron ore producer, agreed to explore for uranium in
Western Australia state with Dioro Exploration NL.

Vale signed an accord to spend A$4 million ($3.5 million)
over four years to earn 60 percent of the uranium rights in
Dioro's Kunderong and Kennedy projects, Perth-based Dioro said
today in a statement to the Australian Stock Exchange. Vale will
spend a minimum of A$800,000, it said.


Read more at Bloomberg Emerging Markets News

Australian Wheat Production May Miss Forecast by 11 Percent, JPMorgan Says

(Bloomberg) -- Wheat production in Australia, the
world's third-largest exporter of the grain, may be 11 percent
less than a government forecast because of dry weather in the
country's west, JPMorgan Chase & Co. said.

The nation may produce 20 million metric tons of wheat this
harvest, the brokerage said in a note dated July 16. That
compares with its previous forecast of 22.8 million tons and a
government estimate of 22.5 million tons.


Read more at Bloomberg Commodities News

Pound Versus Dollar Volatility to Increase on Rate Outlook, Barclays Says

(Bloomberg) -- Swings in the pound-dollar exchange
rate will rise because U.S. economic growth will prove resilient
while that in the U.K. will wane under the weight this year's
interest rate increases, according to Barclays Capital Inc.

``The market is likely to be proved wrong on both U.K. and
U.S. interest rates,'' said Paul Robinson, senior sterling
strategist in London at Barclays Capital, the third-biggest U.K.
bank. ``We expect foreign exchange volatility to increase.''


Read more at Bloomberg Currencies News

Angola to Load 53 Crude Oil Cargoes in September, Unchanged From August

(Bloomberg) -- Angola, sub-Saharan Africa's second-
biggest oil producer, will load 53 crude oil cargoes in
September, the same number as August.

Tankers will load shipments ranging from 950,000 barrels to
1 million barrels for producers including Sonangol SA, the state
oil company, Total SA, Chevron Corp., Exxon Mobil Corp., Eni
SpA, BP Plc, and Statoil ASA, according to a copy of the loading
program for the month.


Read more at Bloomberg Energy News

Hungarian Central Banker Simor Says Inflation `Moving as Broadly Expected'

(Bloomberg) -- Hungarian central bank President
Andras Simor said the country's inflation rate remains within
policy makers' forecasts, even after energy costs pushed up
consumer prices in June.

Last month's 8.6 percent rate, while above economists'
estimates, did not change the bank's longer-term outlook, Simor
said at a press conference today in Budapest. He also said that
while the bank prefers the forint to trade freely, it isn't
actively trying to persuade the government to end trading limits.


Read more at Bloomberg Emerging Markets News

BNP Paribas to buy 33.4 pct in Natixis SLIB unit

(Reuters) - The financial terms of the deal were not disclosed.




Read more at Reuters.com Mergers News

Persian Gulf Crude-Oil Tanker Rates May Extend Drop, Fueling Owner Losses

(Bloomberg) -- The cost of transporting Middle
East crude oil to Asia, down 15 percent in the past month, may
extend declines, forcing shipowners to keep leasing out
supertankers at a loss.

There are enough ships available in the Persian Gulf in the
first two weeks of August to handle about three-quarters of
potential cargoes, Paris-based shipbrokers Barry Rogliano Salles
said in an e-mailed report yesterday. There are 96 ships free
until Aug. 16, compared with 124 cargoes scheduled for
collection this month.


Read more at Bloomberg Energy News

Gold May Rise in London on Demand for Dollar Alternative; Silver Declines

(Bloomberg) -- Gold may rise as the dollar extended
declines against the euro, increasing demand for the precious
metal as an alternative investment. Silver dropped.

Bullion has climbed 4.4 percent this year while the dollar
has fallen 4.3 percent against the euro. ``The dollar is the
biggest influence on gold,'' said Jack Allen, head gold trader
at Natixis Commodity Markets in London.


Read more at Bloomberg Commodities News

Zambia to export 200,000 tonnes maize to DRC, Namibia

(Reuters) - Zambia's government will allow a farmers' group and three other associations to export a total of 200,000 tonnes of white maize to the Democratic Republic of Congo (DRC) and Namibia, an industry official said on Tuesday.

The Grain Traders of Zambia (GTA), the Zambia National Farmers Union (ZNFU), Millers Association of Zambia (Maz) and the state Food Reserve Agency (FRA) will be given permits to export 50,000 tonnes of surplus maize and ground maize each, Maz general secretary Allan Sakala said.


Read more at Reuters Africa

UPDATE 1-Japan says econ recovering, rate hike seen nearing

(Reuters) - TOKYO, July 17 - The Japanese government stuck to
its view that the economy was recovering despite weak industrial
output, while noting softer consumer confidence, in a monthly
economic report issued on Tuesday.




"The economy is recovering despite weakness in some sectors
of industrial production," the government said, using the same
phrase for the fourth straight month.


Read more at Reuters.com Economic News

Wheat Advances on U.S. Harvest Delay, Forecast for Smaller Australian Crop

(Bloomberg) -- Wheat futures in Chicago gained for
the first day in four on concern that the U.S. winter harvest
may be delayed, and a forecast for a smaller Australian crop
than the government expects. Corn and soybean futures fell.

The U.S. winter harvest was 70 percent completed as of July
15, compared with 78 percent a year earlier and the previous
five-year average of 73 percent, the U.S. Department of
Agriculture said in a report yesterday after the close of trade.
A week before, the crop was 58 percent finished, the report said.


Read more at Bloomberg Commodities News

Corporate Bond Risk Rises in Europe, Credit-Default Swaps Market Shows

(Bloomberg) -- The risk of owning European corporate
bonds rose today, according to traders of credit-default swaps.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies jumped 10,500 euros to 280,000 euros at 7:45 a.m. in
London, according to Deutsche Bank AG.


Read more at Bloomberg Bonds News