Harmony expects Q4 headline loss between 130-160 cts

(Reuters) - South African gold miner Harmony Gold expects to report headline loss per share of between 130-160 cents per share for the June 2007 quarter, the firm said in a statement on Monday.

Harmony, the world's fifth-biggest gold producer, said it expected to report headline profit of between 20-30 cents per share for the 2007 financial year, compared with a headline loss of 269 cents.


Read more at Reuters Africa

UPDATE 1-Spain's Abengoa buys Brazil's Dedini Agro

(Reuters) - Abengoa made the announcement in a statement to the Spanish
stock market regulator. Dedini Agro grows and processes
sugarcane in Brazil for the production, sale and export of
ethanol and refined sugar.




In a presentation after the announcement, the company
said the acquisition would boost net profit by $2.2 million this
year, by $6.1 million in 2008 and by $46 million in 2015.


Read more at Reuters.com Mergers News

Infineon to cut Qimonda stake to minority by 2009

(Reuters) - By Georgina Prodhan, European Technology Correspondent



FRANKFURT, Aug 6 - German chipmaker Infineon aims to reduce its stake in memory chip unit Qimonda to "significantly below 50 percent" by 2009, if necessary by giving away Qimonda shares to its own shareholders.


Read more at Reuters.com Mergers News

Europe shares down by midday; credit outweighs M&A

(Reuters) - European shares traded down by midday on Monday, led by financial stocks as they bore the brunt of concerns over credit markets and by oil shares, which tracked a fall in crude.

At 1035 GMT, the FTSEurofirst 300 index of top European shares was down 0.4 percent, heading for its eighth day of losses in the last 10 sessions and off 7.7 percent from a 6-1/2 year high of 1,635.58 on July 13.


Read more at Reuters Africa

U.S. Treasuries Decline on Concern Yields Declined Too Far, Too Fast

(Bloomberg) -- Treasuries fell on speculation yields
near the lowest in three months overstate concern that the
weakness in the U.S. subprime mortgage market will spread.

The 10-year note yield rose 2 basis points to 4.7 percent at
7:28 a.m. in New York, according to bond broker Cantor Fitzgerald
LP. The price of 4 1/2 percent notes due May 2017 fell 1/8, or
$1.25 cents per $1,000 face amount, at 98 14/32.


Read more at Bloomberg Bonds News

UPDATE 1-Brazil's Bradesco posts bigger profit in 1st half

(Reuters) - Bradesco, which is based in Sao Paulo, did not immediately
report a breakdown of its second-quarter earnings. The bank
previously reported a net profit of 1.705 billion reais in the
first quarter.




In a statement to Brazil's securities regulator, Bradesco
said its credit portfolio had reached 130.82 billion reais at
the end of June, up 23 percent from a year ago.


Read more at Reuters.com Market News

Swedish Krona Gains on Signs Growth Is Quickening, Interest Rate Outlook

(Bloomberg) -- Sweden's krona rose on expectations
faster economic growth and further interest-rate increases will
make the Nordic currency more attractive to investors.

The Stockholm-based Riksbank, Sweden's central bank, said in
June it will probably lift its benchmark rate twice more this
year bringing it to 4 percent. Gross domestic product growth
quickened to an annual 3.6 percent in the second quarter from 3
percent in the first, the statistics office said last week.


Read more at Bloomberg Currencies News

U.S. Treasuries Are Little Changed on Growth Concern as Stocks Decline

(Bloomberg) -- Treasuries were little changed as
global stocks fell and speculation increased that losses tied to
subprime mortgages will slow economic growth.

Ten-year notes may extend their gains into a fifth week
after the risk of owning corporate bonds rose and a report showed
employers added fewer jobs than expected last month. Investors
increased bets the Federal Reserve will cut interest rates as
soon as October.


Read more at Bloomberg Bonds News

ICI opens books to Akzo after raised $16.3 bln bid

(Reuters) - ICI, the maker of Dulux paints, said the new proposal was 670 pence a share in cash, up from the 650 pence a share it rejected last week.




"The board of ICI has agreed that Akzo can undertake certain limited due diligence, which ICI expects to be completed within a few days," it said in a statement.


Read more at Reuters.com Business News

U.K. Natural Gas Falls on Lower Demand Forecast; Pipeline Flips to Export

(Bloomberg) -- U.K. natural gas costs declined as a
drop in demand prompted a switch in the direction of flows on a
pipeline connecting England with mainland Europe.

Gas for delivery intraday slipped 3.4 percent to 28.25
pence a therm, according to prices on Bloomberg from the broker
ICAP Plc. The day-ahead price fell 2.6 percent to 28.5 pence a
therm. That's equivalent to $5.83 a million British thermal
units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

Akzo Nobel sweetens takeover bid for ICI

(Reuters) - "It would also allow Akzo Nobel to return further cash to
its shareholders," Akzo said, adding that Henkel would pay 2.7
billion pounds , calculated on a cash and debt
free basis, for ICI's adhesives and electronic materials
businesses.




Read more at Reuters.com Mergers News

FTSE dips, tracking Wall St. on credit concerns

(Reuters) - Britain's top share index dipped early on Monday on fresh concerns over global credit markets after Bear Stearns said it was weathering the worst storm in financial markets in more than 20 years.

At 0738 GMT, the FTSE 100 was down 21.1 points, or 0.34 percent, at 6,203.2, having closed 1.2 percent lower on Friday.


Read more at Reuters Africa

U.K.'s FTSE 100 Drops for Second Day; Northern Rock, Rolls-Royce Retreat

(Bloomberg) -- U.K. stocks fell for a second day.
Northern Rock Plc, a mortgage lender, and Rolls-Royce Group Plc,
the world's second-biggest aircraft-engine maker, led the
retreat.

The FTSE 100 Index declined 56.2, or 0.9 percent, to 6168.1
at 8:04 a.m. in London.


Read more at Bloomberg Stocks News

European Government Bonds Advance as Asian Stocks Slide on Subprime Losses

(Bloomberg) -- European government bonds rose for a
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.

Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.


Read more at Bloomberg Bonds News

UPDATE 1-India's Pantaloon to add stores, sees group rev $2bln

(Reuters) - MUMBAI, Aug 6 - Pantaloon Retail India Ltd., the
country's top listed retailer, is launching small and large
stores and the group is exploring deals with foreign partners
to take on growing competition, its chief executive said on
Monday.




The group is looking at joint venture opportunities with
foreign firms in the business-to-business segment, similar to
the one it has with U.S. office supplies retailer Staples Inc.
, Kishore Biyani told Reuters.


Read more at Reuters.com Mergers News

Arrow Energy Signs Agreements to Develop Coal Seam Gas Ventures in China

(Bloomberg) -- Arrow Energy NL, an Australian
producer of gas from coal seams, signed two venture agreements
with companies in China's Liaoning province as it seeks to start
production of the fuel in the Asian nation.

The accords with Shenyang Gas Co. and Liaohe Petroleum
Development Co., a unit of China National Petroleum Corp., follow
similar agreements signed over the past weeks, Brisbane-based
Arrow said today in a statement to the Australian Stock Exchange.
Arrow now has seven projects in three geographic regions in the
Asian nation, it said.


Read more at Bloomberg Energy News

IFC Plans Record India Lending as Rising Rates Lure Power, Oil Companies

(Bloomberg) -- The World Bank arm that invests in
companies said funding for India, its biggest recipient, will
surpass last fiscal year's record $1 billion as interest rates
at a five-year high deter companies from borrowing at home.

The International Finance Corp. will commit $500 million of
the funds in the year ended June 30 to infrastructure, focusing
on oil, transportation, power and gas projects, said Anita
George, chief investment officer of the World Bank division that
lends to companies in emerging markets.


Read more at Bloomberg Emerging Markets News

U.K. Pound May Fall as Traders Trim Bets on Further Interest-Rate Increase

(Bloomberg) -- The U.K. pound may fall as investors
lower expectations the Bank of England will raise interest rates
again this year.

Interest-rate futures trading shows investors have scaled
back their forecasts for how high the U.K. central bank will lift
rates on concern borrowing costs at a six-year high of 5.75
percent will begin to slow economic expansion. A report today may
show industrial production growth slowed in June.


Read more at Bloomberg Currencies News

UPDATE 1-Barclays launches $89 bln ABN takeover offer

(Reuters) - The offer period will run from Aug. 7 until Oct. 4,
Barclays said in an offer memorandum published in Dutch
newspapers on Monday.




At current share prices and foreign exchange rates, the
Barclays offer is worth about 34.54 euros per share of ABN.


Read more at Reuters.com Mergers News

Gold Little Changed in Asia as Dollar Weakness Boosts Appeal; Silver Rises

(Bloomberg) -- Gold in Asia was little changed near a
one-week high, supported by investors demand for the precious
metal as an alternative asset after the dollar weakened on signs
the U.S. economy might slow. Silver rose.

Gold usually moves in the opposite direction to the dollar,
which fell to a four-month low against the Japanese yen and also
traded near a record low against the euro today. Speculation that
a slowing U.S. economy may keep the Federal Reserve from raising
interest rates also weakened the dollar and boosted the appeal of
the precious metal as alternative investment.


Read more at Bloomberg Commodities News

UPDATE 3-Bear president resigns; casualty of credit crisis

(Reuters) - NEW YORK, Aug 5 - Bear Stearns Cos
co-President and co-Chief Operating Officer Warren Spector
resigned on Sunday, a casualty of the credit risk crisis at the
investment bank.




Bear Stearns said effective immediately, Alan Schwartz was
the company's sole president.


Read more at Reuters.com Bonds News

Markets drop as worries grow

(Reuters) - "The outlook for today does not look good. On top of the worries about the exposure of funds to credit markets, now we've worries about weak U.S. economic data," said Choo Hee-yeop, deputy general manager of asset management strategy at Korea Investment and Securities.




At 0025 GMT, Tokyo's Nikkei average had slid 1.6 percent with exporters such as Canon Inc., electronics components maker Kyocera and chip-tester maker Advantest Corp. further hit by a firmer yen.


Read more at Reuters.com Business News

South Korea's Shares Fall, Led by Posco, Kookmin, Samsung; Hynix Advances

(Bloomberg) -- South Korean stocks fell, led by
Posco, and Kookmin Bank, on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Samsung Electronics Co. also declined after a power outage
at some production lines of the world's second-largest chipmaker.


Read more at Bloomberg Stocks News

UPDATE 2-Bear president resigns; casualty of credit crisis

(Reuters) - NEW YORK, Aug 5 - Bear Stearns Cos
President and co-Chief Operating Officer Warren Spector
resigned on Sunday, becoming a casualty of a credit risk crisis
at the investment bank.




Spector's departure follows Bear Stearns' assertion on
Friday that it is weathering the worst storm in financial
markets in more than 20 years after a major rating company
warned mortgage credit problems could hurt the investment
bank's profits.


Read more at Reuters.com Bonds News

FEATURE-Takeovers spell end of soccer's Premiership Plc

(Reuters) - But if fans, politicians and newspapers take moral umbrage
at the foreign-led takeovers, few are mourning the end of the
publicly listed club.




Going public became something of a craze for Premier League
clubs in the mid-1990s. At its peak, fans and investors could
buy shares in 10 of the 20 current Premier League clubs.


Read more at Reuters.com Mergers News

ICI tentatively agrees to sweetened Akzo offer--WSJ

(Reuters) - If all goes well, a formal takeover agreement would be
announced by Aug. 9, the deadline set by the UK Takeover Panel,
the paper said.




ICI last week rejected an improved 7.8 billion pound , 650 pence-a-share cash takeover proposal by Akzo and
refused to open its books for due diligence check, saying the
offer undervalued the company. It had also previously rejected
a 600 pence-a-share offer from Akzo in June.


Read more at Reuters.com Mergers News

Netflix shares poised to rally - Barron's

(Reuters) - "At some point, Blockbuster will cry uncle and raise
prices, and Netflix shares will almost certainly rally," said
Barron's in its technology column.




Netflix might also be an acquisition target, notably by
Amazon.com , said Barron's.



Read more at Reuters.com Mergers News

RPT-Wall St Week Ahead: Mortgage stress to spur more volatility

(Reuters) - NEW YORK, Aug 5 - More signs of weakness in the
mortgage market, another surge in oil prices and a Federal
Reserve rate decision could create more turbulence for Wall
Street this week.




Widening fallout from the U.S. housing slump has rattled
credit markets, putting investors on edge about the outlook
for corporate takeovers and share buybacks -- two catalysts of
the market's recent rally to record highs.


Read more at Reuters.com Bonds News

UPDATE 1-Dubai matches Fast Retailing's $900 mln Barneys bid

(Reuters) - DUBAI, Aug 5 - Dubai-based private equity firm
Istithmar raised its offer to acquire Barneys New York Inc.
from Jones Apparel Group Inc. to $900 million on
Sunday, matching a bid by Japan's Fast Retailing Co. Ltd.
.




Istithmar, owned by the government of Dubai, had agreed to
buy the luxury retailer for $825 million before Fast Retailing
entered the fray with a $900 million offer.


Read more at Reuters.com Mergers News

South Africa Oil Companies Improve Pay Offer to Try End Strike, Union Says

(Bloomberg) -- BP Plc, Royal Dutch Shell Plc and
other oil refiners in South Africa improved their wage offer to
local workers in a bid to end a strike that has led to fuel
shortages in Africa's largest economy.

``We can't say yet what the improvement is,'' Welile
Nolingo, secretary-general of the Chemical, Energy, Paper,
Printing, Wood and Allied Workers' Union (CEPPWAWU) said by phone
from Johannesburg today. ``We're still negotiating.''


Read more at Bloomberg Energy News

Barclays' ABN offer period runs until Oct 4 - filing

(Reuters) - The RBS-led consortium's offer is worth 71 billion euros
and 93 percent in cash, while Barclays
65-billion-euros offer is about 38 percent in cash.




ABN shareholders can tender shares under the Barclays offer
from Aug. 7 until Oct. 4, Barclays said in a filing to U.S.
regulator the Securities and Exchange Commission late on Friday.


Read more at Reuters.com Government Filings News

International Power says to buy Trinergy wind farms

(Reuters) - The portfolio comprises five wind farms in Germany and 31 in
Italy, three of which have yet to be constructed.




International Power said the cash element in the deal, which
will be also funded by debt, was 868 million euros.


Read more at Reuters.com Mergers News

US July job growth slowest in five months

(Reuters) - The U.S. unemployment rate rose to 4.6 percent in July as employers added jobs at the slowest rate in five months and the government actually reduced its work force, the Labor Department said on Friday.

In another sign of slowing growth, the Institute for Supply Management reported the service sector grew more slowly in July as its index fell to 55.8 from 60.7 in June.


Read more at Reuters Africa

UPDATE 2-Blaming begins in Minneapolis bridge collapse

(Reuters) - MINNEAPOLIS, Aug 3 - The Minneapolis Fire Chief
said on Friday it was a miracle that only five people had so
far been confirmed dead in the collapse of one of the city's
main road bridges over the Mississippi River.




Minnesota Gov. Tim Pawlenty said outside experts would
review the decisions of state engineers to delay certain repair
work on the heavily traveled 40-year-old bridge, which crumpled
during evening rush hour on Wednesday.


Read more at Reuters.com Bonds News

UPDATE 1-Alaska sets session to revisit disputed oil tax

(Reuters) - ANCHORAGE, Alaska, Aug. 3 - A new oil tax that is
a subject of a wide-ranging Alaska corruption investigation
will get a rewrite at a special legislative session on
Oct. 18, Gov. Sarah Palin said on Friday.




The Petroleum Profits Tax, enacted last year at the urging
of former Gov. Frank Murkowski, has proved less lucrative for
the state than advertised and has been clouded by revelations
about political corruption, Palin said at a Juneau news
conference.


Read more at Reuters.com Bonds News

Berkshire Hathaway profit rises 33 pct

(Reuters) - Operating profit, excluding gains from investments and derivatives, rose 22 percent to $2.51 billion, or $1,625 per share, from $2.05 billion, or $1,331.




Analysts on average had expected profit of $1,460 per share, according to Reuters Estimates.


Read more at Reuters.com Market News

Brazil stocks, currency slide on US credit worries

(Reuters) - The benchmark Bovespa index of the Sao Paulo Stock
Exchange slid 3.37 percent to close at 52,846.38 points, its
worst one-day decline since July 26 when the index lost 3.76
percent amid similar concerns about the U.S. credit market.




Brazil's currency, the real , weakened 1.4 percent to
close at 1.902 per U.S. dollar.


Read more at Reuters.com Bonds News

Ternium says will merge Mexico's Hylsamex and IMSA

(Reuters) - "The coming week I will announce the new organizational
structure of both companies working together as a sole entity from
the managerial standpoint in order to be able to get all the
synergies and all the value creation that we expect to get,"
Novegil said.




In 2005, Ternium bought Mexico's No. 2 steelmaker Hylsamex, or
Hylsa as it is now called on the company Web site. In late July,
Ternium completed its purchase of IMSA, another leading
steelmaker, in an operation valued at some $3.2 billion.


Read more at Reuters.com Mergers News

Monsanto seeks $100 mln damages from Novartis

(Reuters) - CHICAGO, Aug 3 - Biotech crop company Monsanto Co said on Friday it filed an arbitration claim against Novartis AG's Sandoz unit, seeking to recover at least $100 million in damages it says were caused by Sandoz in suppling a Monsanto product.



St. Louis-based Monsanto said it filed a claim against Sandoz in an international arbitration proceeding, arguing Sandoz' failure to meet U.S. Food and Drug Administration quality standards disrupted supplies to Monsanto.


Read more at Reuters.com Government Filings News

TREASURIES-Bond prices extend gains on weak services data

(Reuters) - The benchmark 10-year note was 11/32 higher in
price for a yield of 4.73 percent from 4.75 percent before the
data and 4.77 percent late on Thursday, while the two-year note
_was 5/32 in price for a yield of 4.51 percent from
4.53 percent.




Read more at Reuters.com Bonds News

S&P, Fitch cut Boston Scientific's debt to junk

(Reuters) - Saddled with debt after its $27 billion acquisition of
Guidant Corp. and hampered by slowing sales of its most
lucrative heart devices, the company said in March it was
exploring the partial sale for more than $1 billion.




"Fitch's prior rating for BSX was highly dependent on the
timely paydown of debt with cash proceeds from the potential
divestiture," Fitch said in a statement. "More pressure has now
been placed on BSX's operations, which are currently
challenged, to reduce debt and leverage."


Read more at Reuters.com Bonds News

Mexican markets slip on weak U.S. jobs data

(Reuters) - The benchmark IPC stock index fell 0.81 percent to
30,145 points, while the peso currency slipped
0.10 percent to 10.9680 per dollar.




The price of the benchmark 10-year peso bond fell 0.124 points to bid 101.088 points, with a yield of 7.82
percent.


Read more at Reuters.com Bonds News

US STOCKS-S&P, Nasdaq fall 1 percent on credit worries

(Reuters) - The S&P 500 and the Nasdaq fell more than 1 percent.




The Dow Jones industrial average was down 104.37
points, or 0.78 percent, at 13,358.96. The Standard & Poor's
500 Index was down 19.34 points, or 1.31 percent, at
1,452.86. The Nasdaq Composite Index was down 30.22
points, or 1.17 percent, at 2,545.76.


Read more at Reuters.com Bonds News

Wells Fargo, other lenders curb mortgage loans

(Reuters) - Wells Fargo, the second-largest U.S. mortgage lender, said it is curtailing issuance of "Alt-A" home loans through brokers, while Wachovia has stopped entirely. Wachovia also said one lending unit has temporarily halted its Alt-A production.




Lenders are making fewer home loans once thought to be safe because investors now perceive those loans to be risky. The changes could worsen the U.S. housing slump by putting home ownership beyond the reach of a larger number of Americans.


Read more at Reuters.com Bonds News

European Stocks Drop, Paced by BMW, Philips, Hypo Real Estate, Depfa

(Bloomberg) -- European stocks fell after reports in
the U.S. showed employers added fewer jobs than forecast last
month and growth in U.S. service industries slowed, reigniting
concern the world's biggest economy is cooling.

Bayerische Motoren Werke AG and Royal Philips Electronics NV
paced declines among companies that rely on sales in the U.S. The
Dow Jones Europe Stoxx Oil & Gas Index dropped to the lowest in
three months, led by Total SA and BP Plc after Citigroup Inc.
reduced its recommendation for the oil industry. Hypo Real Estate
Holding AG, the mortgage bank spun off from HVB Group, and Depfa
Bank Plc led financial shares lower.


Read more at Bloomberg Stocks News

Chile's Madeco first-half net profit falls 36.5 pct

(Reuters) -







Read more at Reuters.com Market News

Use Swaptions to bet U.K. Interest Rates Have Peaked, Credit Suisse Says

(Bloomberg) -- Investors should use swaptions to bet
the Bank of England won't raise benchmark interest rates beyond
5.75 percent because inflation has peaked, according to Credit
Suisse.

Prices for swaptions, options on interest rate swaps,
signal traders expect further rate increases. Investors can
profit with swaptions if benchmark rates hold steady, analysts
at Credit Suisse, Switzerland's second-biggest bank, said in a
strategy note.


Read more at Bloomberg Currencies News

UPDATE 1-C-BASS retains Blackstone to seek more capital

(Reuters) - C-BASS faces a liquidity crisis that has forced its two
biggest investors, MGIC Investment Corp. and Radian
Group Inc. , to consider writing down more than $1
billion worth of their investment in C-BASS.




C-BASS said in a statement that it has been working with a
number of investors to resolve its liquidity problems and
create "a long-term partnership."


Read more at Reuters.com Mergers News

Muni Tobacco Debt Has Worst Month Since 2005 in July, A.G. Edwards Says

(Bloomberg) -- Tax-exempt bonds backed by the 1998
national tobacco settlement had their worst monthly performance
in July since late 2005, prompting one borrower to shelve a
scheduled tobacco debt sale and another to sell its offering
sooner than planned on concerns of a further decline.

The extra yield, or spread, investors demand on benchmark
municipal tobacco bonds compared with top-rated municipal debt
widened by 35 basis points, the most in more than 18 months, to
124 basis points, A.G. Edwards Inc. said in a report. Puerto
Rico postponed its $238 million sale July 31, while California's
Riverside County sold a $295 million deal a week sooner than
planned. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Air Liquide says KKR bid talk "barely credible"

(Reuters) - Potier added that Air Liquide had a long-term shareholder
base and highlighted the company's regular earnings growth.




Read more at Reuters.com Mergers News

Fortis seen clearing shareholder hurdle over ABN

(Reuters) - If it does not garner enough support it could spell the end not only to Fortis's ambitions of expanding in the Benelux but also the joint 71 billion euro bid of its consortium partners Royal Bank of Scotland and Spain's Santander .




Fortis will ask shareholders, who have seen their stock drop by almost 18 percent since it confirmed its approach for ABN in April, to back the planned takeover in general and its financing through Europe's second largest rights issue.


Read more at Reuters.com Mergers News

Suit by Bayou hedge fund investor dismissed

(Reuters) - Bayou, which once managed around $400 million, collapsed in
2005 after the discovery of multiple frauds by its managers led
by Sam Israel III and Daniel Marino, both of whom later pleaded
guilty to various charges and await sentencing.




New York-based Hennessee, which is managed by Lee Hennessee
and her husband Charles Gradante, claimed it undertook a
rigorous, five-step due diligence review before recommending
clients invest in any hedge fund.


Read more at Reuters.com Mergers News

Germany faces political pressure over IKB exposure

(Reuters) - KfW, which generally funds development projects, owns 38
percent of IKB and pledged earlier this week to take
responsibility for an 8 billion euro guarantee
given by the troubled lender for now uncertain U.S. investments.




The plan to use state funds to support a bank that got into
trouble by investing in the U.S. subprime mortgage market has
drawn criticism from opposition politicians and a senior finance
policy figure in Chancellor Angela Merkel's conservatives.


Read more at Reuters.com Government Filings News

Global stocks steady after earnings soothe credit nerves

(Reuters) - Almost two weeks of a sell-off in equity and credit markets stemmed from concerns that a fallout in the U.S. housing sector will trigger a broad repricing of risks in a market which enjoyed cheap money and high appetite for high-yielding assets.




But a string of forecast-beating results from major companies, including Allianz , Royal Bank of Scotland and British Airways on Friday, has helped soothe such concerns. Investors are keen to see U.S. jobs data due later in the day for more clues on the strength of the economy.


Read more at Reuters.com Hot Stocks News

Miner Anglo to sell Tarmac

(Reuters) - The copper, platinum and gold specialist said on Friday it made underlying earnings of $3.1 billion in the six months to June 30, broadly in line with analysts' average forecast of $3.2 billion, according to Reuters Estimates, and said the outlook for most of its metals and minerals remained positive.




Read more at Reuters.com Business News

Workers at Vodacom halt strike

(Reuters) - Workers at South African mobile phone operator Vodacom have halted a strike around union recognition and pay, Vodacom said on Thursday.

The Communication Workers Union -- which has around 1,200 members -- went on strike last month after it said Vodacom had refused to recognise it on the grounds that it is too small.


Read more at Reuters Africa

Miners, banks push S.Africa Top-40 index 1 pct up

(Reuters) - South Africa's blue chip Top-40 index gained over one percent in early trade on Friday, boosted by mining and bank stocks as global stock markets recovered.

The Top-40 index rose as much as 1.28 percent to 25,518 points. By 0748 GMT, the index was 0.97 percent firmer at 25,493 points.


Read more at Reuters Africa

S.Africa's Mboweni warns on inflation, hints on rates

(Reuters) - South African central bank chief Tito Mboweni warned on Friday inflationary pressures were "more worrying", hinting interest rates may have to rise again in Africa's biggest economy.

The Reserve Bank governor told parliament's finance committee there was no other instrument to tame inflation except rates, referring to commercial bank reserve requirements and restrictions on credit providers.


Read more at Reuters Africa

S.African stocks slide on global jitters; Lewis up

(Reuters) - South African stocks hit an almost four-month low on Friday as weaker global markets rattled financial stocks but retailer Lewis bucked the trend after it said sales rose and its credit book was in good shape.

The Johannesburg Top-40 index of blue-chip stocks dropped 1.11 percent to 24,915.31 points, its lowest closing level since April 11. The All-share index fell 1 percent to 27,582.01 points.


Read more at Reuters Africa

UPDATE 1-Jobs data show US economy strong-WH's Lazear

(Reuters) - "I think the jobs numbers, although lower than the previous
month, are still within range and we still think of these as
good, solid numbers," Council of Economic Advisers Chairman
Edward Lazear told reporters.




He was speaking after data showed a less-than-expected
92,000 new U.S. jobs were created in July versus a downwardly
revised 126,000 the previous month.


Read more at Reuters.com Economic News

Gold, Silver Rise as Lack of Higher U.S. Interest Rates May Erode Dollar

(Bloomberg) -- Gold and silver rose in New York on
speculation a slowing U.S. economy may keep the Federal Reserve
from raising interest rates, weakening the dollar and boosting
the appeal of precious metals as alternative investments.

Five of the past six bear markets for the dollar have
resulted in a higher gold price. The metal is up 6.7 percent
this year as the dollar has declined to a record low against the
euro. Investment in StreetTracks Gold Trust, an exchange-traded
fund backed by bullion, reached a record 507 tons on Aug. 1.


Read more at Bloomberg Commodities News

Toyota says upward trend in U.S. sales intact

(Reuters) - The highest was July 2006, when industry volumes grew on back of big incentives being offered led by Detroit brands.




He also said U.S. sales incentives on the Tundra pick-up truck were on track to decline.


Read more at Reuters.com Market News

D.Post Q2 tops consensus, may hike FY goal after Q3

(Reuters) - BONN, Germany, Aug 3 - German mail and logistics group Deutsche Post stuck to its full-year earnings goal despite a 10 percent rise in second-quarter operating profit, boosted by its DHL express delivery and logistics units.



Post said it continued to expect 2007 earnings before interest and tax excluding one-off items of at least 3.6 billion euros , up from 3.51 billion last year. Group 2006 EBIT including one-off items was 3.87 billion euros.


Read more at Reuters.com Market News

Telus profit falls on charges, abandons BCE quest

(Reuters) - Net earnings declined to C$253.1 million , or 75 Canadian cents a diluted share. That is down from a profit of C$356.6 million, or C$1.02 a share, in the same period last year. Telus, which confirmed its 2007 financial forecasts, also said it will not make a takeover bid for rival BCE , saying that it can generate growth on its own.






Read more at Reuters.com Market News

U.S. staffing stocks fall after July jobs report

(Reuters) - The U.S. economy added 92,000 nonfarm jobs in July, below the
130,000 expected, and jobs growth in May and June was revised down
slightly. The jobless rate moved up to 4.6 percent, the Labor
Department said.




Jonas Prising, who heads North American operations at Manpower
Inc. , said Manpower's clients are cautious in their
outlook, but they remain optimistic.


Read more at Reuters.com Market News

`Uncle Ted' Stevens's Corruption Probe Imperils Federal Dollars for Alaska

(Bloomberg) -- The federal corruption investigation
of U.S. Senator Ted Stevens not only threatens the career of the
longest-serving Republican in Senate history, it also puts at
risk the billions of dollars that ``Uncle Ted'' steers to
Alaska.

``Republicans, Democrats, everybody still hopes that
nothing has gone wrong here, since he's so important to the
state,'' said Republican State Representative Ralph Samuels, the
majority leader in Alaska's House.


Read more at Bloomberg Exclusive News

Australian, New Zealand Dollars Rise as U.S. Stock Gain Lifts Carry Trade

(Bloomberg) -- The Australian and New Zealand
dollars gained for a second day against the yen as a rally in
U.S. stocks attracted investors to higher-yielding assets funded
by loans from Japan.

The two currencies headed for weekly gains, recovering from
two-month lows, as the Dow Jones Industrial Average had the
first two-day gain in two weeks. New Zealand's 7.75 percentage
point and Australia's 5.75 point interest-rate premium over
Japan make the currencies favorites for so-called carry trades.


Read more at Bloomberg Currencies News

European Carbon Emission Permits Fall as U.K. Natural-Gas Prices Decline

(Bloomberg) -- European Union carbon dioxide permits
fell as U.K. natural-gas prices dropped, making the cleaner-
burning fuel more attractive to power producers.

Permits for December 2008 lost as much as 30 cents, or 1.5
percent, to 20.40 euros ($27.94) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 20.57 euros at
11:13 a.m. local time. That's the second drop in three days.


Read more at Bloomberg Energy News

Carry Trade a `Threat' to Markets, Yen Too Weak, South Korea's Kwon Says

(Bloomberg) -- South Korea's Finance Minister Kwon
Okyu said the yen's weakness isn't justified and that carry
trades based on the Japanese currency threaten to destabilize
global markets.

Borrowing cheaply in Japan to buy assets with higher
returns is ``a potential threat to the international financial
markets and there is a need for a global reaction,'' Kwon said
in a statement after a meeting of Asia Pacific Economic
Cooperation finance ministers in Coolum, Australia.


Read more at Bloomberg Emerging Markets News

CCS Medical sees IPO of 10 mln shares at $14-$16 each

(Reuters) - The company said it had applied for a Nasdaq listing under
the symbol "CCSM."





Read more at Reuters.com Bonds News

EURO CREDIT-Index liquidity seen good despite turmoil

(Reuters) - The iTraxx Crossover index , viewed as a
barometer for European credit sentiment, has this week moved
between 380 and 505 basis points, a huge range that in the
credit market is more likely to be seen over a period of a year
or more rather than a week.




Single-name credit default swap and cash bond liquidity has
suffered, with bid-offer spreads widening sharply and traders
saying little business is being transacted.


Read more at Reuters.com Bonds News

UPDATE 1-US RATE FUTURES-Chances of Fed cuts up on weak job data

(Reuters) - CHICAGO, Aug 3 - U.S. short-term interest rate
futures on Friday boosted the implied chances for Federal
Reserve rate cuts this year after weak July payrolls growth and
a rise in the unemployment rate.




The U.S. Labor Department said 92,000 nonfarm payroll jobs
were created in July, below the median forecast of 130,000. The
July jobless rate inched up to 4.6 percent from 4.5 percent in
June, for its highest since January.


Read more at Reuters.com Bonds News

Japan's Topix Gains as Earnings Ease U.S. Growth Concern; Konica Advances

(Bloomberg) -- Japan's Topix index advanced after
better-than-forecast earnings in the U.S. lifted indexes there
and eased investor concern that the subprime loan problem will
derail growth in Japan's largest export market.

Exporters also got a boost after the yen weakened against
the dollar and companies including Konica Minolta Holdings Inc.
reported rising profits. Konica jumped the most in three weeks.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Retreat After Jobs Growth Trails Forecasts

(Bloomberg) -- U.S. stock-index futures declined
after a government report showed employers added fewer jobs than
economists forecast in July and concern grew that credit-market
losses are spreading.

American Home Mortgage Investment Corp., which caters to
borrowers who can't satisfy all the terms of a prime mortgage,
plunged after telling staff it will shut down. Network Appliance
Inc. decreased after the maker of data-storage computers said
profit missed its forecast because big customers cut spending.


Read more at Bloomberg Stocks News