(Bloomberg) -- Oil may reach $70 a barrel as China starts filling its emergency crude storage tanks, boosting the nation's imports to a record in March, CLSA Ltd. said.
China may begin pumping oil into a storage facility in Huangdao in eastern China's Shandong province in late April, Gordon Kwan, head of China oil and gas research wrote in a note today. The nation imported a record 13.86 million metric tons (3.3 million barrels a day) of crude last month, China's customs data showed on April 10.
Read more at Bloomberg Energy News
Monday, April 23, 2007
Accident briefly halts output at Zambia's Chambishi
(Reuters) - An accident at Chambishi, Zambia's largest cobalt producer, briefly halted production at the mine's smelter, a manager at the mine said on Monday.
"Production was suspended briefly but we are now back to full capacity," said the manager who declined to be named.
Read more at Reuters Africa
"Production was suspended briefly but we are now back to full capacity," said the manager who declined to be named.
Read more at Reuters Africa
Akzo Nobel Q1 core profit up 18 pct
(Reuters) - Analysts had expected earnings before interest and taxes
, excluding its pharma unit, which will be sold, and incidentals, to fall 5.3 percent to 179 million, according to the average forecast of six analysts in a Reuters poll.
Read more at Reuters.com Market News
, excluding its pharma unit, which will be sold, and incidentals, to fall 5.3 percent to 179 million, according to the average forecast of six analysts in a Reuters poll.
Read more at Reuters.com Market News
PRESS DIGEST - Wall Street Journal - April 24
(Reuters) - * House-Senate negotiators approved a $124.2 billion Iraq war funding bill that sets up an almost certain veto fight with President George W. Bush by requiring him to begin a withdrawal of U.S. forces by Oct. 1.
* A rival bank group is planning ways to scotch ABN AMRO's deal to sell itself to Barclays Plc and the Dutch bank's pact to sell its LaSalle Bank to Bank of America Corp .
Read more at Reuters.com Bonds News
* A rival bank group is planning ways to scotch ABN AMRO's deal to sell itself to Barclays Plc and the Dutch bank's pact to sell its LaSalle Bank to Bank of America Corp .
Read more at Reuters.com Bonds News
India's Bharat Petroleum Seeks Crude Oil Cargoes for June, July Loading
(Bloomberg) -- Bharat Petroleum Corp., India's third-biggest state-run refiner, is seeking to buy crude oil for loading in June and July, said traders who received offer documents from the company.
Bharat Petroleum, based in Mumbai, plans to buy so-called sweet and sour crude oil, said the traders who asked not to be identified. Potential suppliers must submit initial offers on April 25, price offers on April 26, and they must be valid until April 27, the traders said.
Read more at Bloomberg Energy News
Bharat Petroleum, based in Mumbai, plans to buy so-called sweet and sour crude oil, said the traders who asked not to be identified. Potential suppliers must submit initial offers on April 25, price offers on April 26, and they must be valid until April 27, the traders said.
Read more at Bloomberg Energy News
TREASURIES-Futures edge higher before housing data
(Reuters) - "The market seems to be in the same mode as yesterday," said Hiroki Shimazu, a market economist for Mizuho Securities.
U.S. 10-year Treasury note futures rose 3/32 to 108-7/32 as of 0354 GMT.
Read more at Reuters.com Bonds News
U.S. 10-year Treasury note futures rose 3/32 to 108-7/32 as of 0354 GMT.
Read more at Reuters.com Bonds News
U.K. Pound May Rise as Growth, Inflation Point to Higher BOE Interest Rate
(Bloomberg) -- The pound may gain versus the dollar after three days of declines lure buyers looking to capitalize on speculation signs of inflation accelerating will persuade the Bank of England to raise interest rates in May.
The U.K. currency fell yesterday as its recent climb to the highest in 25 years last week was judged by traders as being too rapid. Interest-rate futures suggest investors bet the central bank will probably raise borrowing costs twice more this year.
Read more at Bloomberg Currencies News
The U.K. currency fell yesterday as its recent climb to the highest in 25 years last week was judged by traders as being too rapid. Interest-rate futures suggest investors bet the central bank will probably raise borrowing costs twice more this year.
Read more at Bloomberg Currencies News
Canadian National Railway, Teck Cominco, TransCanada: Canadadian Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets. This preview includes news that broke after markets closed. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index lost 35.74, or 0.3 percent, to 13,628.97 in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index lost 35.74, or 0.3 percent, to 13,628.97 in Toronto.
Read more at Bloomberg Stocks News
Mubarak's Bow to Unions Stalls Egypt's Asset Sales, Thwarts Investing Boom
(Bloomberg) -- Mahmoud Abdel Latif, who was appointed chairman of Egypt's Bank of Alexandria SAE in September 2002, says he knew as soon as he walked in the door of the main branch that he had a big job ahead. The paint on the walls was peeling, and the offices had an unsavory smell. It took customers an hour and a half and a visit to at least seven different tellers to cash a check. The bank was mired in bad debt. ``Everything was collapsing,'' Abdel Latif says of what was then Egypt's fourth- largest state-owned bank.
Last year, Sanpaolo IMI SpA of Italy bought an 80 percent stake in the bank for $1.6 billion, the biggest sale of a state company in Egypt's history. As a result, assets have grown. The bank has recouped 11 billion Egyptian pounds ($1.9 billion) in bad debt. Clients can now cash a check in six minutes. There are even flowers to greet visitors in the odor-free main branch.
Read more at Bloomberg Exclusive News
Last year, Sanpaolo IMI SpA of Italy bought an 80 percent stake in the bank for $1.6 billion, the biggest sale of a state company in Egypt's history. As a result, assets have grown. The bank has recouped 11 billion Egyptian pounds ($1.9 billion) in bad debt. Clients can now cash a check in six minutes. There are even flowers to greet visitors in the odor-free main branch.
Read more at Bloomberg Exclusive News
China warns U.S. piracy case will harm trade tries
(Reuters) - China denounced Washington's complaint and, Wu, who heads the country's economic dialogue with Washington, bluntly warned that the complaints would bruise bilateral trade ties.
"The United States Trade Representative, the USTR, has totally ignored the massive strides China has made," Wu told an intellectual property forum in Beijing.
Read more at Reuters.com Business News
"The United States Trade Representative, the USTR, has totally ignored the massive strides China has made," Wu told an intellectual property forum in Beijing.
Read more at Reuters.com Business News
Japanese Shares Drop, Led by Sumitomo Chemical, Toyota, Exporters on Oil
(Bloomberg) -- Japanese shares fell, led by chemical makers including Sumitomo Chemical Co., after a jump in the price of oil raised concern manufacturing costs will rise and Kao Corp. forecast profit will decline this business year.
Toyota Motor Corp. and other exporters dropped on speculation higher fuel costs will curb spending in the U.S., Japan's largest overseas market.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and other exporters dropped on speculation higher fuel costs will curb spending in the U.S., Japan's largest overseas market.
Read more at Bloomberg Stocks News
UPDATE 2-KKR ups Alliance Boots bid to 1,139 pence a share
(Reuters) - LONDON, April 24 - A consortium led by private equity firm Kohlberg, Kravis Roberts has upped the stakes in a bid battle for Alliance Boots , raising its offer to 1,139 pence per share after buying 49.7 million shares at that price.
The new cash price -- in what would be Europe's biggest leveraged buyout -- trumped an indicative offer from British buyout rival Terra Firma [TERA.UL].
Read more at Reuters.com Bonds News
The new cash price -- in what would be Europe's biggest leveraged buyout -- trumped an indicative offer from British buyout rival Terra Firma [TERA.UL].
Read more at Reuters.com Bonds News
Yield Curve in Japan to Flatten as Interest Rates Rise, Credit Suisse Says
(Bloomberg) -- Japan's two-year bonds may slump, closing the gap in yields with 20-year debt to the lowest in almost four years, because the central bank will probably raise interest rates in August, Credit Suisse Group said.
The spread that forms the so-called yield curve may drop to 120 basis points in the next two months, a level unseen since July 2, 2003, from 127 basis points now, said Akito Fukunaga, a fixed- income strategist at Credit Suisse. The Bank of Japan is likely to increase borrowing costs in August to 0.75 percent after upper house elections in July, he said.
Read more at Bloomberg Bonds News
The spread that forms the so-called yield curve may drop to 120 basis points in the next two months, a level unseen since July 2, 2003, from 127 basis points now, said Akito Fukunaga, a fixed- income strategist at Credit Suisse. The Bank of Japan is likely to increase borrowing costs in August to 0.75 percent after upper house elections in July, he said.
Read more at Bloomberg Bonds News
Apple ex-CFO settles with SEC: report
(Reuters) - The SEC is expected to pursue a civil lawsuit against Apple's former general counsel Nancy Heinen, the Journal said.
Heinen, who will be accused of manipulating one of her own option awards as well as a grant to Steve Jobs, Apple's chief executive, plans to contest the charges, the Journal reported.
Read more at Reuters.com Business News
Heinen, who will be accused of manipulating one of her own option awards as well as a grant to Steve Jobs, Apple's chief executive, plans to contest the charges, the Journal reported.
Read more at Reuters.com Business News
Yen Extends Gains Against Euro as Bank of Japan May Be Bullish on Growth
(Bloomberg) -- The yen extended its gains against the euro on speculation the Bank of Japan will this week forecast stronger economic growth, giving policy makers room to raise interest rates.
The currency also rose versus the Australian and New Zealand dollars as traders cut investments in higher-yielding assets financed by borrowing in the yen, known as carry trades. The central bank may predict 2.3 percent expansion in the year starting next April 1, from 2.1 percent this fiscal year, according to a Bloomberg News survey of economists before its April 27 semiannual outlook.
Read more at Bloomberg Currencies News
The currency also rose versus the Australian and New Zealand dollars as traders cut investments in higher-yielding assets financed by borrowing in the yen, known as carry trades. The central bank may predict 2.3 percent expansion in the year starting next April 1, from 2.1 percent this fiscal year, according to a Bloomberg News survey of economists before its April 27 semiannual outlook.
Read more at Bloomberg Currencies News
Crane quarterly profit rises, sets Q2 view
(Reuters) - Crane, which makes electronics, control systems and fluid-handling devices, said its five acquisitions in 2006 also contributed significantly to its profit improvement.
Net profit rose to 43.6 million, or 71 cents a share, from $37.4 million, or 61 cents per share, a year earlier, the company said in a statement.
Read more at Reuters.com Business News
Net profit rose to 43.6 million, or 71 cents a share, from $37.4 million, or 61 cents per share, a year earlier, the company said in a statement.
Read more at Reuters.com Business News
UPDATE 2-Everest Re posts higher earnings in first quarter
(Reuters) - "They are off to a great start, but with reinsurers, you never know until the year is over," said Jim Auden, an analyst with Fitch Ratings.
Everest, which provides backup coverage to regular property insurers when they face risks such as hurricanes, said earnings jumped to $297.6 million, or $4.59 a share, from $168.4 million, or $2.57 a share, in the year-earlier quarter.
Read more at Reuters.com Market News
Everest, which provides backup coverage to regular property insurers when they face risks such as hurricanes, said earnings jumped to $297.6 million, or $4.59 a share, from $168.4 million, or $2.57 a share, in the year-earlier quarter.
Read more at Reuters.com Market News
CBOE profit more than triples
(Reuters) - The CBOE, which is restructuring into a for-profit entity, said volume grew during the quarter, fueled by stock market volatility, which produced significant gains in index and exchange-traded fund option products.
"CBOE's volume growth, driven by new products, continues to outpace the options industry overall," said CBOE Chairman and CEO William Brodsky in a statement.
Read more at Reuters.com Business News
"CBOE's volume growth, driven by new products, continues to outpace the options industry overall," said CBOE Chairman and CEO William Brodsky in a statement.
Read more at Reuters.com Business News
UPDATE 2-Eiffage board wants Sacyr to offer cash
(Reuters) - PARIS, April 23 - The supervisory board of French public works and transport concessions group Eiffage on Monday rejected an unsolicited all-share offer by its biggest single shareholder, Sacyr Vallehermoso of Spain.
In an increasingly acrimonious cross-border tussle, Eiffage said Sacyr had broken French law and needed to offer a cash bid.
Read more at Reuters.com Bonds News
In an increasingly acrimonious cross-border tussle, Eiffage said Sacyr had broken French law and needed to offer a cash bid.
Read more at Reuters.com Bonds News
UPDATE 1-ACS bid raised to $62/share by Cerberus, Deason
(Reuters) - Affiliated Computer's chairman and founder, Darwin Deason, said in a statement that he and investment fund Cerberus Capital Management LP "had made no progress whatsoever" in attempts to negotiate to take the company private.
Affiliated's board had set up a special committee to review the proposal.
Read more at Reuters.com Bonds News
Affiliated's board had set up a special committee to review the proposal.
Read more at Reuters.com Bonds News
Bank of America says won't breach US deposit cap
(Reuters) - On a conference call, Bank of America executives said they were confident the LaSalle purchase wouldn't put it through the 10 percent limit, and it has no plans to change its strategy toward adding retail deposits.
Separately, Bank of America Chief Executive Kenneth Lewis said Bank of America plans to rebrand LaSalle branches with its own name. "Bank of America will be the brand, as it is throughout the rest of America," Lewis said.
Read more at Reuters.com Government Filings News
Separately, Bank of America Chief Executive Kenneth Lewis said Bank of America plans to rebrand LaSalle branches with its own name. "Bank of America will be the brand, as it is throughout the rest of America," Lewis said.
Read more at Reuters.com Government Filings News
UPDATE 1-Arch Coal first-quarter profit falls
(Reuters) - Net earnings were $28.7 million, or 20 cents per share, compared with $60.6 million, or 42 cents per share, a year earlier, the St. Louis-based company said.
Two months ago, Arch cut its 2007 production targets, citing weakness in U.S. coal markets. Chief Executive Officer Steven Leer said at the time that Arch was sending less coal to market because electricity generating plants were maintaining historically high stockpiles of coal -- in some cases as much as 47 days' supply.
Read more at Reuters.com Market News
Two months ago, Arch cut its 2007 production targets, citing weakness in U.S. coal markets. Chief Executive Officer Steven Leer said at the time that Arch was sending less coal to market because electricity generating plants were maintaining historically high stockpiles of coal -- in some cases as much as 47 days' supply.
Read more at Reuters.com Market News
UPDATE 1-Rohm and Haas first-quarter earnings fall
(Reuters) - Net income was $192 million, or 87 cents a share, compared with $207 million, or 93 cents a share in the year-ago period.
Earnings from continuing operations were $190 million, or 86 cents a share, compared with $207 million, or 93 cents a share a year earlier.
Read more at Reuters.com Market News
Earnings from continuing operations were $190 million, or 86 cents a share, compared with $207 million, or 93 cents a share a year earlier.
Read more at Reuters.com Market News
Bank of America to buy LaSalle for $21 bln
(Reuters) - The all-cash purchase will give Bank of America, the second-largest U.S. bank, 141 new branches in the Chicago area, 264 in Michigan and six in Indiana, as well as about 1,500 automated teller machines and about $113 billion of assets.
ABN Amro agreed to be acquired by British bank Barclays Plc for about 67 billion euros , or 36.25 euros per share.
Read more at Reuters.com Bonds News
ABN Amro agreed to be acquired by British bank Barclays Plc for about 67 billion euros , or 36.25 euros per share.
Read more at Reuters.com Bonds News
Canada's Dollar Little Changed Before Tomorrow's Interest-Rate Decision
(Bloomberg) -- Canada's dollar was little changed near a five-month high before the Bank of Canada meets tomorrow to set interest rates.
The currency gained the past five weeks, the longest rally since mid-2004, as a strengthening economy and higher commodity prices attracted investors.
Read more at Bloomberg Currencies News
The currency gained the past five weeks, the longest rally since mid-2004, as a strengthening economy and higher commodity prices attracted investors.
Read more at Bloomberg Currencies News
BA says approaches private equity firms on Iberia
(Reuters) - Texas Pacific Group has made a 3.4 billion-euro indicative bid for Iberia and sources close to the situation say fellow private equity firm Apax Partners is also eyeing a deal.
BA is considering teaming up with TPG, Apax, or working with a Spanish private equity firm, a source familiar with the matter told Reuters.
Read more at Reuters.com Business News
BA is considering teaming up with TPG, Apax, or working with a Spanish private equity firm, a source familiar with the matter told Reuters.
Read more at Reuters.com Business News
Diamond law change may hurt S.African diamond output
(Reuters) - South Africa's plans to change the laws governing its diamond sector to help lock-in wealth in the world's fourth largest diamond producer could harm the industry in the long run by forcing the closure of mines, industry players said on Monday.
The new law is part of a wider scheme by South Africa to balance a market whereby it is a major producer of the gem, but still a minor player in the lucrative cutting and polishing business, which is dominated by low-cost manufacturers China and India, which are not diamond producers.
Read more at Reuters Africa
The new law is part of a wider scheme by South Africa to balance a market whereby it is a major producer of the gem, but still a minor player in the lucrative cutting and polishing business, which is dominated by low-cost manufacturers China and India, which are not diamond producers.
Read more at Reuters Africa
Goldman Sachs shares rise after upgrade
(Reuters) - Goldman Sachs shares rose 0.9 percent to $222 in electronic trade.
Read more at Reuters.com Hot Stocks News
Read more at Reuters.com Hot Stocks News
Vonage, Facing Bankruptcy on Patent Case, Asks Appeals Court for Reprieve
(Bloomberg) -- Vonage Holdings Corp., ordered to stop adding customers after it lost a patent ruling, may get a reprieve allowing the Internet phone company to conduct business as usual while it appeals the decision.
Vonage will ask a court in Washington tomorrow to extend a temporary freeze of a lower court order that bars it from winning new business during the appeal. A judge issued the ruling on March 23, after Vonage was found to have infringed call-connection technology owned by Verizon Communications Inc.
Read more at Bloomberg Exclusive News
Vonage will ask a court in Washington tomorrow to extend a temporary freeze of a lower court order that bars it from winning new business during the appeal. A judge issued the ruling on March 23, after Vonage was found to have infringed call-connection technology owned by Verizon Communications Inc.
Read more at Bloomberg Exclusive News
Harsco quarterly earnings rise
(Reuters) - Earnings from continuing operations rose to 54 cents per share from 39 in the first quarter of 2006, well above analysts' average forecast of 43 cents per share.
Analysts also underestimated Harsco's sales, expecting $766.3 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts also underestimated Harsco's sales, expecting $766.3 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Radler Plays Brutus to Conrad Black's Caesar as Fraud Trial Climax Looms
(Bloomberg) -- If anyone knows whether Conrad Black helped steal $60 million from Hollinger International Inc., the Chicago-based newspaper giant he created and controlled, it's F. David Radler.
For almost 40 years as partners, the two built an empire stretching from the U.S. and Canada, their home country, to England and Israel. Black, the chairman and chief executive officer with homes in London, Toronto, New York and Palm Beach, was Mr. Outside, wooing conservative icons like Henry Kissinger to the board. Radler was Mr. Inside, the eyes-down company president who disdained public view as he focused on details and cost-cutting.
Read more at Bloomberg Exclusive News
For almost 40 years as partners, the two built an empire stretching from the U.S. and Canada, their home country, to England and Israel. Black, the chairman and chief executive officer with homes in London, Toronto, New York and Palm Beach, was Mr. Outside, wooing conservative icons like Henry Kissinger to the board. Radler was Mr. Inside, the eyes-down company president who disdained public view as he focused on details and cost-cutting.
Read more at Bloomberg Exclusive News
FACTBOX: Key facts about Barclays and ABN AMRO
(Reuters) - For the latest news on the deal click on.
Following are key facts on Barclays and ABN:
Read more at Reuters.com Mergers News
Following are key facts on Barclays and ABN:
Read more at Reuters.com Mergers News
FACTBOX: Barclays' proposed offer for ABN AMRO
(Reuters) - PRICE
** ABN shareholders would receive 3.225 new ordinary Barclays shares for each ABN share. Including a declared dividend, that values each ABN share at 36.25 euros.
Read more at Reuters.com Business News
** ABN shareholders would receive 3.225 new ordinary Barclays shares for each ABN share. Including a declared dividend, that values each ABN share at 36.25 euros.
Read more at Reuters.com Business News
CORRECTED: HK blue chips flat; China Mobile down after results
(Reuters) - HONG KONG - Hong Kong stocks held steady on Monday, as most blue chips were firm after Wall Street recorded a new high, but heavyweight China Mobile erased those gains after falling on disappointing first-quarter results.
Hong Kong-listed shares in mainland companies, or H shares, outperformed to rise 0.5 percent, underpinned by new highs recorded by China's main stock index.
Read more at Reuters.com Hot Stocks News
Hong Kong-listed shares in mainland companies, or H shares, outperformed to rise 0.5 percent, underpinned by new highs recorded by China's main stock index.
Read more at Reuters.com Hot Stocks News
Enel, Porsche, Gold Fields, KKR, Hispasat to Borrow: European Loan Alert
(Bloomberg) -- The following is a list of loans denominated in euros or pounds and expected to be syndicated in coming weeks and months.
Investment-Grade Loans
Read more at Bloomberg Bonds News
Investment-Grade Loans
Read more at Bloomberg Bonds News
Compal Q1 net profit up 18 pct, eyes Vietnam
(Reuters) - By Sheena Lee
TAIPEI, April 23 - Compal Electronics , the world's No.2 contract laptop PC maker, on Monday reported an 18 percent jump in quarterly profit and forecast strong growth this year, as it pledged to hold margins steady in the highly competitive sector.
Read more at Reuters.com Market News
TAIPEI, April 23 - Compal Electronics , the world's No.2 contract laptop PC maker, on Monday reported an 18 percent jump in quarterly profit and forecast strong growth this year, as it pledged to hold margins steady in the highly competitive sector.
Read more at Reuters.com Market News
UPDATE 1-KKR, Carlyle join race for Thomson unit -source
(Reuters) - KKR declined to comment, while Carlyle and Thomson officials weren't immediately available for comment.
The two private equity firms are competing separately against Apax Partners [APAX.UL], Warburg Pincus [WP.UL] and a team comprising Blackstone Group [BG.UL], Thomas H. Lee Partners [THL.UL] and Bain Capital, the Times newspaper reported on Monday without citing sources, and adding that bids could come in around $3.5 billion.
Read more at Reuters.com Mergers News
The two private equity firms are competing separately against Apax Partners [APAX.UL], Warburg Pincus [WP.UL] and a team comprising Blackstone Group [BG.UL], Thomas H. Lee Partners [THL.UL] and Bain Capital, the Times newspaper reported on Monday without citing sources, and adding that bids could come in around $3.5 billion.
Read more at Reuters.com Mergers News
British Energy Halts Output at Nuclear Reactor at Hartlepool For Repairs
(Bloomberg) -- British Energy Group Plc, whose nuclear reactors can produce about a fifth of the U.K.'s power, stopped its Hartlepool 1 unit.
The reactor, which has a generation capacity of about 605 megawatts, halted production at about 9 a.m. local time on April 21, according to data on a Web site operated by National Grid Plc.
Read more at Bloomberg Energy News
The reactor, which has a generation capacity of about 605 megawatts, halted production at about 9 a.m. local time on April 21, according to data on a Web site operated by National Grid Plc.
Read more at Bloomberg Energy News
GLOBAL MARKETS-European stocks off 6-yr peaks; yen rises
(Reuters) - The euro and euro zone bonds shrugged off first-round results of a weekend French presidential election, in which conservative Nicolas Sarkozy and socialist Segolene Royal advanced to the run-off vote on May 6.
Oil prices held near Friday's high, while gold traded near an 11-month high just below a key level of $700 an ounce.
Read more at Reuters.com Economic News
Oil prices held near Friday's high, while gold traded near an 11-month high just below a key level of $700 an ounce.
Read more at Reuters.com Economic News
Copper Falls in London After Four-Day Grasberg Strike Ends; Tin Advances
(Bloomberg) -- Copper dropped in London after a four-day protest at Indonesia's Grasberg, the world's second- largest copper mine, ended over the weekend. Tin gained.
Copper surpassed the $8,000-a-metric-ton mark last week for the first time in seven months on speculation a labor dispute at the Freeport McMoRan Copper & Gold Inc. mine, which contributed 3.6 percent to world supplies last year, would have cut supplies. The workers and the management settled the dispute on April 21.
Read more at Bloomberg Commodities News
Copper surpassed the $8,000-a-metric-ton mark last week for the first time in seven months on speculation a labor dispute at the Freeport McMoRan Copper & Gold Inc. mine, which contributed 3.6 percent to world supplies last year, would have cut supplies. The workers and the management settled the dispute on April 21.
Read more at Bloomberg Commodities News
Storebrand, Bankas Snoras, Portugal Plan to Sell Debt: European Bond Alert
(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.
Investment-Grade Sales
Read more at Bloomberg Bonds News
Investment-Grade Sales
Read more at Bloomberg Bonds News
European stocks open higher; M&A, earnings dominate
(Reuters) - Barclays rose 0.5 percent and ABN 2.4 percent after their long-awaited announcement, but drugmaker AstraZeneca slipped 1.7 percent after unveiling a $15.2-billion acquisition of biotech group MedImmune.
In other M&A-related action, Scottish & Newcastle rose 2.5 percent on a report that Diageo and SABMiller had discussed breaking the British brewer up, and Societe Generale fell 2.8 percent after denying speculation of merger talks with UniCredit .
Read more at Reuters.com Hot Stocks News
In other M&A-related action, Scottish & Newcastle rose 2.5 percent on a report that Diageo and SABMiller had discussed breaking the British brewer up, and Societe Generale fell 2.8 percent after denying speculation of merger talks with UniCredit .
Read more at Reuters.com Hot Stocks News
European Stocks Pare Advance as AstraZeneca and Societe Generale Retreat
(Bloomberg) -- European stocks pared gains as AstraZeneca Plc and Societe Generale SA declined.
The Dow Jones Stoxx 600 Index was little changed at 389.21 at 8:40 a.m. in London after earlier rising as much as 0.2 percent. The Stoxx 50 was also little changed and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, dropped 0.2 percent.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 Index was little changed at 389.21 at 8:40 a.m. in London after earlier rising as much as 0.2 percent. The Stoxx 50 was also little changed and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, dropped 0.2 percent.
Read more at Bloomberg Stocks News
French Stocks Gain, Led by Schneider, Danone; Societe Generale Declines
(Bloomberg) -- French stocks gained, paced by Schneider Electric SA, Gaz de France SA and Groupe Danone.
Societe Generale SA slid.
Read more at Bloomberg Stocks News
Societe Generale SA slid.
Read more at Bloomberg Stocks News
European Corporate Bond Risk Declines, Credit-Default Swap Prices Show
(Bloomberg) -- The risk of owning European corporate bonds fell, 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, fell 2,500 euros to 193,000 euros at 8:04 a.m. in London, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
Contracts based on 10 million euros ($13 million) of debt included in the iTraxx Crossover Series 7 Index of 50 European companies, fell 2,500 euros to 193,000 euros at 8:04 a.m. in London, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
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