(Bloomberg) -- European 10-year government bonds advanced for a second day in London.
The yield on the benchmark 10-year German bund fell 1 basis point to 4.20 by 8:05 a.m. in London.
Read more at Bloomberg Bonds News
Sunday, April 29, 2007
Thailand's 10-Year Bond Yields Hold Near 3 1/2-Year Low; Baht Strengthens
(Bloomberg) -- Thailand's 10-year bond yields held near the lowest in 3 1/2 years on speculation a government report tomorrow will show inflation slowed, allowing the central bank to keep lowering interest rates. The baht advanced.
The yield on 10-year notes has dropped more than a quarter of a percentage point since the central bank cut borrowing costs for a third time this year on April 11. Thailand's bonds are heading for their fourth monthly gain, handing investors a return of 8.4 percent this year, the best performer of 10 Asian debt markets tracked by HSBC Holdings Plc.
Read more at Bloomberg Bonds News
The yield on 10-year notes has dropped more than a quarter of a percentage point since the central bank cut borrowing costs for a third time this year on April 11. Thailand's bonds are heading for their fourth monthly gain, handing investors a return of 8.4 percent this year, the best performer of 10 Asian debt markets tracked by HSBC Holdings Plc.
Read more at Bloomberg Bonds News
Citi, Lehman lead race for India's IFCI stake: paper
(Reuters) - "Offers made by Citi and Lehman are more attractive than others. A decision over the stake sale is expected by the month-end," the newspaper quoted an unnamed investment banker, who it said was directly involved in the deal.
A Citigroup spokesman could not comment immediately, while officials at Lehman and IFCI could not be reached.
Read more at Reuters.com Business News
A Citigroup spokesman could not comment immediately, while officials at Lehman and IFCI could not be reached.
Read more at Reuters.com Business News
ICICI Shares Slump on Concern India's Biggest Stock Sale May Erode Returns
(Bloomberg) -- Shares of ICICI Bank Ltd., India's biggest by market value, may fall on concern a planned 200 billion rupee ($4.9 billion) stock sale will reduce returns for investors as profit growth slows.
ICICI plans to sell the equivalent of 20 percent of its equity locally and overseas in June, the biggest stock sale by an Indian company, the Mumbai-based bank said on April 28. The bank reported fourth-quarter profit that missed analysts' estimates because it set aside more funds to cover loans.
Read more at Bloomberg Emerging Markets News
ICICI plans to sell the equivalent of 20 percent of its equity locally and overseas in June, the biggest stock sale by an Indian company, the Mumbai-based bank said on April 28. The bank reported fourth-quarter profit that missed analysts' estimates because it set aside more funds to cover loans.
Read more at Bloomberg Emerging Markets News
China Stocks Climb, Set for Record Month; China Vanke Advances on Earnings
(Bloomberg) -- China's stocks advanced, set to complete a record monthly gain, after Hainan Airlines Co. and Anhui Conch Cement Co. reported higher earnings and JPMorgan Chase & Co. raised its economic growth forecast for the nation.
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, rose 52.27, or 1.5 percent, to 3522.79 at the 11:30 a.m. local-time break. It's up 27 percent since March 30, headed for the biggest monthly increase since the benchmark was introduced in April 2005.
Read more at Bloomberg Stocks News
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, rose 52.27, or 1.5 percent, to 3522.79 at the 11:30 a.m. local-time break. It's up 27 percent since March 30, headed for the biggest monthly increase since the benchmark was introduced in April 2005.
Read more at Bloomberg Stocks News
Coca-Cola Femsa, Suzano Papel & Celulose: Latin American Equity Preview
(Bloomberg) -- The following stocks may make significant gains or losses in 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.
Brazil
Read more at Bloomberg Stocks News
Brazil
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Uranium Explorers Gain After Opposition Labor Party Ends Ban on New Mines
(Bloomberg) -- Australian uranium stocks surged after the nation's opposition Labor Party ended a 25-year ban on new mining of the radioactive mineral.
Shares in Perth-based Deep Yellow Ltd., which is seeking the uranium in Namibia as well as four Australian states and territories, gained as much as 13 percent. Eromanga Uranium Ltd., with projects in South Australia and Western Australia, rose 11 percent.
Read more at Bloomberg Energy News
Shares in Perth-based Deep Yellow Ltd., which is seeking the uranium in Namibia as well as four Australian states and territories, gained as much as 13 percent. Eromanga Uranium Ltd., with projects in South Australia and Western Australia, rose 11 percent.
Read more at Bloomberg Energy News
Indonesia's Indika Inti Energi Raises $250 Million From Dollar Bond Sale
(Bloomberg) -- PT Indika Inti Energi, a privately owned energy group run by Indonesian businessmen Agus Lasmono and Wiwoho Basuki, raised $250 million from its first dollar- denominated bond sale, attracting almost $4 billion of demand.
Indika, which plans to pay debt and buy assets, priced the five-year bonds to yield 8.497 percent, 391.4 basis points more than U.S. Treasuries, according to an e-mail sent to investors. Strong demand helped the company cut the yield from as high as 8.875 percent set on April 26. A basis point is 0.01 percentage point. JPMorgan Chase & Co. and ING Groep NV managed the sale.
Read more at Bloomberg Bonds News
Indika, which plans to pay debt and buy assets, priced the five-year bonds to yield 8.497 percent, 391.4 basis points more than U.S. Treasuries, according to an e-mail sent to investors. Strong demand helped the company cut the yield from as high as 8.875 percent set on April 26. A basis point is 0.01 percentage point. JPMorgan Chase & Co. and ING Groep NV managed the sale.
Read more at Bloomberg Bonds News
King's BOE Inflation-Targeting Loses Luster as Bernanke Mulls Similar Step
(Bloomberg) -- The Bank of England, confronting a record-breaking real-estate boom, is finding there's more to monetary policy than just keeping consumer prices in check.
A decade after the central bank won its independence from government control, surging U.K. property values are throwing into question the inflation-targeting approach of Governor Mervyn King and his colleagues, which focuses on consumer prices as the lodestar of policy and gives lower priority to asset values, money supply and credit growth.
Read more at Bloomberg Currencies News
A decade after the central bank won its independence from government control, surging U.K. property values are throwing into question the inflation-targeting approach of Governor Mervyn King and his colleagues, which focuses on consumer prices as the lodestar of policy and gives lower priority to asset values, money supply and credit growth.
Read more at Bloomberg Currencies News
South Korean Won Declines as Investors Sell Higher-Yielding Currencies
(Bloomberg) -- South Korea's won fell for a third day, the longest losing streak since the start of March, on speculation investors are selling higher-yielding currencies after China acted to slow its economy.
The won also slipped from the strongest in two months against Japan's currency on concern investors were exiting the so-called carry trade where they borrow in the yen and invest in countries with higher interest rates. China this weekend ordered lenders to set aside a higher proportion of deposits at the central bank to slow lending.
Read more at Bloomberg Currencies News
The won also slipped from the strongest in two months against Japan's currency on concern investors were exiting the so-called carry trade where they borrow in the yen and invest in countries with higher interest rates. China this weekend ordered lenders to set aside a higher proportion of deposits at the central bank to slow lending.
Read more at Bloomberg Currencies News
Thai Inflation Rate, at 3-Year Low, May Fall as Protests Slow Consumption
(Bloomberg) -- Thailand's inflation probably slowed in April, maintaining the three-year low reached a month earlier, as mounting anti-government protests and escalating terror attacks in the south curbed consumption.
Consumer prices in April gained 1.7 percent from a year earlier, the lowest since January 2004, according to the median estimate of 16 economists surveyed by Bloomberg News. Prices rose 2 percent a month earlier. The Commerce Ministry report is due on May 1 at 11 a.m. local time.
Read more at Bloomberg Bonds News
Consumer prices in April gained 1.7 percent from a year earlier, the lowest since January 2004, according to the median estimate of 16 economists surveyed by Bloomberg News. Prices rose 2 percent a month earlier. The Commerce Ministry report is due on May 1 at 11 a.m. local time.
Read more at Bloomberg Bonds News
Canada Grows Faster Than China as Newest Market for Foreign Debt Sales
(Bloomberg) -- From Reykjavik to Wellington, the queue in Toronto is making Canada the fastest-growing market for international borrowers. Not even China's burgeoning bond sales can keep up with the pace of foreign debt being issued in Canadian dollars.
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Bonds News
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Bonds News
RPT-UPDATE 2-China clamps down on credit growth -- again
(Reuters) - BEIJING, April 29 - China on Sunday ordered banks for the second time this month to hold more of their deposits in reserve in the latest attempt to prevent credit and investment growth from destabilising the world's fourth-largest economy.
The People's Bank of China said on its Web site that big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.
Read more at Reuters.com Bonds News
The People's Bank of China said on its Web site that big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.
Read more at Reuters.com Bonds News
N.Z. Windfarms, PGG Wrightson, Telecom Corp: New Zealand Equity Movers
(Bloomberg) -- New Zealand's NZX 50 Index was little changed, falling 0.04 points, to 4181.41 at 10:55 a.m. in Wellington.
The following stocks rose or fell. The stocks symbols are in brackets after the company names.
Read more at Bloomberg Stocks News
The following stocks rose or fell. The stocks symbols are in brackets after the company names.
Read more at Bloomberg Stocks News
DoCoMo, Japan Tobacco, Sumitomo Mitsui Financial: Japanese Equity Preview
(Bloomberg) -- The following stocks may move in Japanese markets on May 1. The Japanese stock markets will be closed on April 30 for a national holiday. Prices are as of the close of trading today. Statements were released after the close. Stock symbols are in parentheses.
All Nippon Airways Co. (9202 JT): Japan's largest domestic carrier said full-year profit rose as the country's economic growth boosted air travel. All Nippon's net income gained 22 percent to 32.7 billion yen ($274 million) in the 12 months ended March 31, from 26.7 billion yen a year earlier. The stock fell 14 yen, or 2.9 percent, to 465.
Read more at Bloomberg Stocks News
All Nippon Airways Co. (9202 JT): Japan's largest domestic carrier said full-year profit rose as the country's economic growth boosted air travel. All Nippon's net income gained 22 percent to 32.7 billion yen ($274 million) in the 12 months ended March 31, from 26.7 billion yen a year earlier. The stock fell 14 yen, or 2.9 percent, to 465.
Read more at Bloomberg Stocks News
Gary-Williams Says Oklahoma Refinery Fire Is Out, Plant Isn't Operating
(Bloomberg) -- Gary-Williams Energy Co.'s refinery in Wynnewood, Oklahoma, isn't operating after a fire in two storage tanks was extinguished, a manager at the plant said.
The company may start up the plant on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding into the plant, he said.
Read more at Bloomberg Energy News
The company may start up the plant on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding into the plant, he said.
Read more at Bloomberg Energy News
Gold May Resume Rally on Rising Demand for Dollar Alternative, Survey Says
(Bloomberg) -- Gold may resume its two-month rally as a decline in the value of the dollar boosts the appeal of the precious metal as an alternative investment.
Twelve of 26 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 26 and April 27 advised buying gold, which fell 2 percent to $681.80 an ounce last week on the Comex division of the New York Mercantile Exchange. The decline was the first in eight weeks. Five respondents said to sell, and nine were neutral.
Read more at Bloomberg Commodities News
Twelve of 26 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 26 and April 27 advised buying gold, which fell 2 percent to $681.80 an ounce last week on the Comex division of the New York Mercantile Exchange. The decline was the first in eight weeks. Five respondents said to sell, and nine were neutral.
Read more at Bloomberg Commodities News
Egypt's CASE 30 Index Declines; Sidi Kerir and Orascom Construction Slide
(Bloomberg) -- Egyptian stocks including Sidi Kerir Petrochemicals, the only maker of ethylene in Egypt, and Orascom Construction Industries, dropped.
Sixth of October Development & Investment Co., the largest real-estate developer by market value in Egypt, rose after it announced it would invest 8 billion Egyptian pounds ($1.4 billion) with Solidere of Lebanon to build new homes.
Read more at Bloomberg Stocks News
Sixth of October Development & Investment Co., the largest real-estate developer by market value in Egypt, rose after it announced it would invest 8 billion Egyptian pounds ($1.4 billion) with Solidere of Lebanon to build new homes.
Read more at Bloomberg Stocks News
Dubai's Benchmark Index Advances, Paced by Dubai Islamic Bank: Gulf Stocks
(Bloomberg) -- Shares in Dubai, the United Arab Emirates, advanced for the first time in five trading sessions, paced by Dubai Islamic Bank and Dubai Financial Market.
The Dubai Financial Market General Index added 0.3 percent to 3824.58 at 11:20 a.m. local time. The measure lost 2.4 percent in the past four days. The Abu Dhabi Securities Market Index declined 0.1 percent to 3062.73.
Read more at Bloomberg Stocks News
The Dubai Financial Market General Index added 0.3 percent to 3824.58 at 11:20 a.m. local time. The measure lost 2.4 percent in the past four days. The Abu Dhabi Securities Market Index declined 0.1 percent to 3062.73.
Read more at Bloomberg Stocks News
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