Atos, Cap Gemini, France Telecom, NicOx and Steria: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

August futures on the benchmark CAC 40 Index slipped 10 to
5641 at 8:13 a.m. in Paris.


Read more at Bloomberg Stocks News

UPDATE 1-UK's Ultra H1 underlying profit rises 7 pct

(Reuters) - Operating profit, defined as earnings before interest, taxes
and amortisation on acquisitions, rose to 27.0 million pounds
, the company said in a statement to the London
Stock Exchange.
Citing its broad range of activities in both the defence and
civil sectors as well as its growing order book, Chief Executive
Douglas Caster said in the statement: "These give an excellent
basis for further progress in the medium term despite the
continuing currency headwind."




Ultra's order book advanced 3.8 percent to 574.8 million
pounds.


Read more at Reuters.com Market News

Australian Mining Stocks Rise, Led by BHP Billiton; Macquarie Declines

(Bloomberg) -- Australian shares rebounded from early
losses, led by BHP Billiton Ltd. after copper and oil prices rose.

Macquarie Bank Ltd., the nation's largest investment bank,
fell on speculation higher credit costs will slow global takeovers
and dent advisory fees.


Read more at Bloomberg Stocks News

Asian Stocks Rebound From 1-Month Low; JFE Gains, Hon Hai Precision Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. helped offset concerns of a slump in U.S. housing.

Sony Corp., the maker of Cyber-shot cameras and PlayStation 3
consoles, and James Hardie Industries NV, the biggest supplier of
home siding in the U.S., led declines after a report showed a
decline in U.S. housing investment.


Read more at Bloomberg Stocks News

Verizon May Say Today Earnings Rose as Fiber-Optic Network Pared Loss

(Bloomberg) -- Verizon Communications Inc.'s $22.9
billion gamble on a new fiber-optic network may have started to
pay off in the second quarter as new customers and reduced
expenses pared the project's losses.

Net income of the second-largest U.S. phone company
probably rose to $1.69 billion, or 58 cents a share, from $1.61
billion, or 55 cents, a year ago, according to the average of 13
analysts' estimates in a Bloomberg survey. Sales may have
increased 5.1 percent to $23 billion.


Read more at Bloomberg Stocks News

Saudi Aramco Offers to Sell 90,000 Tons of Fuel Oil for Loading in August

(Bloomberg) -- Saudi Aramco, the world's biggest
state oil company, offered to sell 90,000 metric tons of fuel
oil for loading in August, according to an offer document sent
to potential buyers

---------------------------------------------------------------
Product:      A-953, 380-centistoke, 3.7 percent sulfur
Quantity:     90,000 tons
Loading:      Aug. 18-20
Port:         Ras Tanura
Bids close:   July 31
Bid Validity: Aug. 1
---------------------------------------------------------------

The oil's centistoke rating is a measure of its viscosity
or flow rate. Fuel oil is used as ship fuel and burned at power
plants to generate electricity.


Read more at Bloomberg Energy News

China Doesn't Provide Any Subsidies to Steelmakers, Association's Luo Says

(Bloomberg) -- China doesn't subsidize steelmakers,
the China Iron and Steel Association said in response to a
Financial Times report that Chinese mills had received more than
$52 billion in subsidies over the past decade.

``China absolutely doesn't have any steel subsidies,'' Luo
Bingsheng, vice chairman of the association, told reporters today
in Beijing.


Read more at Bloomberg Commodities News

Codelco Says It Will Resume Copper Production at Its Second-Largest Mine

(Bloomberg) -- Codelco, the world's biggest copper
producer, said it will resume production in Chile at its second-
largest mine tomorrow after unions agreed to return to work.

Unions at Codelco's El Teniente mine in central Chile will
resume work tomorrow, the company said in a statement sent by e-
mail today. The mine has been shuttered since the afternoon of
July 26, after Codelco's unions said protests by striking
employees of contracting companies created a safety risk.


Read more at Bloomberg Commodities News

Yangtze Power's Profit Jumps 72 Percent on Output and Sale of Bank Stake

(Bloomberg) -- China Yangtze Power Co., operator of
the world's biggest hydropower project, said first-half profit
jumped 72 percent after the company sold shares in a bank and as
electricity output rose.

Net income surged to 2.25 billion yuan ($298 million), or
0.268 yuan a share, from 1.31 billion yuan, or 0.16 yuan, a year
earlier, Yangtze Power said in a statement to Shanghai's stock
exchange today. Sales rose 12 percent to 3.4 billion yuan.


Read more at Bloomberg Emerging Markets News

Liberty considers Virgin Media bid - FT

(Reuters) - Virgin Media had asked suitors to submit expressions of
interest by the first week of August to kick off an auction of
the company, people familiar with the situation told Reuters
earlier this week.




About 10 suitors have expressed an interest, sources told
Reuters, since private equity firm Carlyle Group [CYC.UL] made
an initial offer earlier this month.


Read more at Reuters.com Mergers News

UPDATE 1-Japan output rises, BOJ rate rise seen on track

(Reuters) - But a crushing defeat for Prime Minister Shinzo Abe's
coalition in Sunday's upper house election could complicate the
outlook for monetary policy and scale back market expectations
for a central bank rate hike next month, analysts said.




The increase in June output beat a median market forecast for
a 1.1 percent rise.


Read more at Reuters.com Economic News

Japan Stocks Fall on U.S. Subprime Concern, Ruling Party's Election Defeat

(Bloomberg) -- Japanese stocks dropped after a
report on economic growth in the U.S. showed residential
investment slumping as the subprime problem worsens, pointing to
a weaker outlook for Japan's largest overseas market.

Toyota Motor Corp. and Canon Inc. led exporters lower after
the yen advanced to the highest against the dollar in more than
three months, reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

Exporters, Hana Financial, Hynix, Hyundai: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or
fall in South Korea. Prices refer to the July 27 close. This
preview includes news announced after markets shut. Stock
symbols are in brackets after the company names.

The Kospi index plunged 4.1 percent to 1,883.22, the
steepest fall since June 3, 2004. The Kosdaq slid 3.1 percent to
792.06. Kospi 200 futures expiring in September retreated 4.5
percent to 237.85, while the underlying index lost 4.2 percent
to 238.34.


Read more at Bloomberg Stocks News

Gold May Rebound on Investment Demand for Dollar Alternative, Analysts Say

(Bloomberg) -- Gold may rebound on speculation that
the dollar will resume a slide against the euro, boosting the
appeal of the precious metal as an alternative investment.

Fourteen of 27 traders, investors and analysts surveyed by
Bloomberg from Sydney to Chicago on July 26 and July 27 advised
buying gold, which fell 1.8 percent last week to $672.30 an ounce
on the Comex division of the New York Mercantile Exchange. Nine
said to sell, and four were neutral.


Read more at Bloomberg Commodities News

In China, Paulson eyes debate shift to environment

(Reuters) - Aiming to keep his strategic economic dialogue with China
on track amid controversies over Chinese product and food
safety and currency legislation gaining momentum in the U.S.
Congress, Paulson will visit Qinghai lake in western China on
Monday before meeting President Hu Jintao and Vice Premier Wu
Yi on Tuesday and Wednesday.




The lake and surrounding glacial watershed are threatened
by global warming and encroaching desert, with Paulson saying
the area was a strong symbol of the need for U.S.-China
cooperation on environmental issues.


Read more at Reuters.com Bonds News

ABN set to drop Barclays recommendation: sources

(Reuters) - ABN's managing and supervisory boards met on Friday and over the weekend, and an update on the takeover is expected alongside the bank's quarterly earnings, due to be published on Monday.




The Dutch bank's management originally supported Barclays, but the revised bid from the British bank no longer included the ABN boards' recommendation.


Read more at Reuters.com Business News

Egypt's Alcotexa sells 2,965 T of cotton in two weeks

(Reuters) - The Alexandria Cotton Exporters' Association (Alcotexa) said on Sunday it had committed to sell 2,965.32 tonnes of cotton in the two weeks ended July 28.

An Alcotexa official broke down the sales included 0.66 tonnes of Giza 45, 661 tonnes of Giza 70, 0.66 tonnes of Giza 87, 604 tonnes of Giza 88, 1,355 tonnes of Giza 86, 275 tonnes of Giza 80 and 69 tonnes of export type.


Read more at Reuters Africa