(Bloomberg) -- Gold was little changed in Asia after earlier rising as a gain in the U.S. dollar against the Japanese yen sparked buying in the dollar-denominated gold for immediate delivery and selling in yen-denominated gold futures in Tokyo.
The Japanese yen is heading for a fourth weekly decline against the dollar as signs of weakening growth are likely to keep the Bank of Japan from lifting borrowing costs anytime soon. Declines in the yen have made some gold futures contracts traded in Japanese yen on the Tokyo Commodity Exchange more expensive than the gold for immediate delivery traded in U.S. dollars.
Read more at Bloomberg Commodities News
Thursday, May 17, 2007
Danubius, Voestalpine, Zentiva May Move: Central European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in central European markets. Symbols are in parentheses and prices are from the previous close.
The NTX Index of 30 companies in the region slipped 0.1 percent to 1913.78.
Read more at Bloomberg Stocks News
The NTX Index of 30 companies in the region slipped 0.1 percent to 1913.78.
Read more at Bloomberg Stocks News
Merrill's China Chairman Liu Erhfei Says Stock Valuations `Out of Control'
(Bloomberg) -- Merrill Lynch & Co.'s China chairman said investors should pare their holdings in the nation, where the benchmark stock index has rallied 84 percent this year.
``Valuations are too high and it's getting out of control,'' Liu Erhfei told a private equity conference in Beijing. ``This is a good time to exit, which by definition means it's a bad time to invest.''
Read more at Bloomberg Emerging Markets News
``Valuations are too high and it's getting out of control,'' Liu Erhfei told a private equity conference in Beijing. ``This is a good time to exit, which by definition means it's a bad time to invest.''
Read more at Bloomberg Emerging Markets News
M&A talk boosts European shares, earnings eyed
(Reuters) - European shares were slightly higher in early trade on Thursday, amid fresh takeover talk and a series of earnings updates, tracking rallies in U.S. and Asian shares overnight.
Trading is expected to be thin with some European markets, including the Nordic markets, Austria, Switzerland, closed for a holiday.
Read more at Reuters Africa
Trading is expected to be thin with some European markets, including the Nordic markets, Austria, Switzerland, closed for a holiday.
Read more at Reuters Africa
Union to demand double-digit pay rise from Implats
(Reuters) - South Africa's National Union of Mineworkers (NUM) will demand at least a double-digit wage rise from the world's second biggest platinum producer Impala Platinum, an official said on Thursday.
"For Implats, we are looking at a variety of issues in terms of the wages but we are looking for nothing less than a double-digit increase for us to even consider," spokesman Lesiba Seshoka said.
Read more at Reuters Africa
"For Implats, we are looking at a variety of issues in terms of the wages but we are looking for nothing less than a double-digit increase for us to even consider," spokesman Lesiba Seshoka said.
Read more at Reuters Africa
China worries drag down base metals
(Reuters) - Industrial metals prices fell on Thursday, with copper dropping to a six-week low and dragging down the whole market on signs of oversupply in China, the world's top consumer of metals.
Copper for three months delivery on the London Metal Exchange touched $7,260 a tonne, its lowest since April 4, before bouncing back to $7,380 in the official session, still down by 3 percent or $230 from Wednesday.
Read more at Reuters Africa
Copper for three months delivery on the London Metal Exchange touched $7,260 a tonne, its lowest since April 4, before bouncing back to $7,380 in the official session, still down by 3 percent or $230 from Wednesday.
Read more at Reuters Africa
Gold loses one pct as investors step away
(Reuters) - Gold fell by around one percent on Thursday extending the previous day's losses to a six-week low, hurt by a stronger dollar, long liquidation and sharp losses in the base metals complex, traders said.
Spot gold fell as low as $655.79, its weakest since the end of March. It last traded at $656.40/656.90 an ounce by 1414 GMT, down from $661.60/663.10 late in New York on Wednesday.
Read more at Reuters Africa
Spot gold fell as low as $655.79, its weakest since the end of March. It last traded at $656.40/656.90 an ounce by 1414 GMT, down from $661.60/663.10 late in New York on Wednesday.
Read more at Reuters Africa
India's Bonds Advance on Speculation Report Will Show Inflation Slowed
(Bloomberg) -- India's bonds rose on speculation a government report will show today inflation slowed to the lowest rate in almost eight months.
The yield on the benchmark 8.07 percent note due January 2017 fell 3 basis points, or 0.03 percentage point, to 8.09 percent as of 9:12 a.m. in Mumbai, according to the central bank's trading system. The price rose 0.2, or 20 paise per 100 rupee face value, to 99.85.
Read more at Bloomberg Bonds News
The yield on the benchmark 8.07 percent note due January 2017 fell 3 basis points, or 0.03 percentage point, to 8.09 percent as of 9:12 a.m. in Mumbai, according to the central bank's trading system. The price rose 0.2, or 20 paise per 100 rupee face value, to 99.85.
Read more at Bloomberg Bonds News
U.S. Consumer Confidence Probably Dropped to Eight-Month Low on Gasoline
(Bloomberg) -- Confidence among U.S. consumers probably fell in May to the lowest level in eight months, sapped by a jump in gasoline prices and a wave of mortgage defaults, economists said before a report today.
The University of Michigan's preliminary index of consumer sentiment likely declined to 86.2 this month from a final April reading of 87.1, according to the median estimate of 67 economists in a Bloomberg News survey.
Read more at Bloomberg Bonds News
The University of Michigan's preliminary index of consumer sentiment likely declined to 86.2 this month from a final April reading of 87.1, according to the median estimate of 67 economists in a Bloomberg News survey.
Read more at Bloomberg Bonds News
U.K. Wage Growth Slowed in Quarter Through April, Report by Pay Group Show
(Bloomberg) -- U.K. wage growth slowed in the quarter through April as government workers got the smallest pay rises since 1998, a report by Industrial Relations Services showed.
Workers' representatives agreed to a median 3 percent gain in salaries, down from 3.5 percent in the three months through March, the Surrey, England-based research group said today. The data covers 184 settlements, 141 of which showed higher pay.
Read more at Bloomberg Currencies News
Workers' representatives agreed to a median 3 percent gain in salaries, down from 3.5 percent in the three months through March, the Surrey, England-based research group said today. The data covers 184 settlements, 141 of which showed higher pay.
Read more at Bloomberg Currencies News
Corkins Revives Janus Fund, Beats Fidelity Contrafund, Legg Mason Returns
(Bloomberg) -- David Corkins is turning around Janus Capital Group Inc.'s flagship mutual fund and beating the returns of his biggest competitors at Fidelity Investments, American Funds, Vanguard Group Inc. and Legg Mason Inc.
Corkins, who took over the $12 billion Janus Fund 15 months ago, reduced the number of stocks he invests in by a third, sold the worst performers and invested in companies with the fastest growth in cash flow to produce returns of 9.2 percent so far this year.
Read more at Bloomberg Exclusive News
Corkins, who took over the $12 billion Janus Fund 15 months ago, reduced the number of stocks he invests in by a third, sold the worst performers and invested in companies with the fastest growth in cash flow to produce returns of 9.2 percent so far this year.
Read more at Bloomberg Exclusive News
Corn Falls as Rains Forecast to Aid Midwest Plants; Soybeans Are Unchanged
(Bloomberg) -- Corn fell in Chicago as dry weather accelerated U.S. plantings before rains next week that may help seed germination and early growth. Soybeans erased earlier gains as soil moisture improved.
A storm system will bring as much as 1 inch (2.5 centimeters) of rain to almost 80 percent of the growing region in the Midwest on May 22, said John Dee, president of Global Weather Monitoring in Mohawk, Michigan. Unusually cold weather in the next two mornings probably won't hurt crops, Dee said.
Read more at Bloomberg Commodities News
A storm system will bring as much as 1 inch (2.5 centimeters) of rain to almost 80 percent of the growing region in the Midwest on May 22, said John Dee, president of Global Weather Monitoring in Mohawk, Michigan. Unusually cold weather in the next two mornings probably won't hurt crops, Dee said.
Read more at Bloomberg Commodities News
Exxon Mobil Continues to Fund Global-Warming Skeptics, Greenpeace Says
(Bloomberg) -- Exxon Mobil Corp., the world's biggest oil company, continued to fund global-warming skeptics after the company said such practices had ended, Greenpeace USA said.
Exxon Mobil gave $2.1 million last year to 41 groups that Greenpeace dubbed ``prominent climate-denial organizations,'' the Washington-based environmental group said in a report today. The recipients included the National Black Chamber of Commerce and the Aspen Institute.
Read more at Bloomberg Energy News
Exxon Mobil gave $2.1 million last year to 41 groups that Greenpeace dubbed ``prominent climate-denial organizations,'' the Washington-based environmental group said in a report today. The recipients included the National Black Chamber of Commerce and the Aspen Institute.
Read more at Bloomberg Energy News
Emap Shares Gain After Company Says Chief Executive Moloney Will Resign
(Bloomberg) -- Emap Plc, the U.K. publisher of Zoo and Grazia magazines, ousted Chief Executive Officer Tom Moloney after a decline in advertising at its consumer titles.
Alun Cathcart, non-executive chairman, is now interim executive chairman and will be acting CEO, London-based Emap said today in a statement. The shares had their biggest gain in a year on speculation Moloney's departure will help draw a takeover bid.
Read more at Bloomberg Stocks News
Alun Cathcart, non-executive chairman, is now interim executive chairman and will be acting CEO, London-based Emap said today in a statement. The shares had their biggest gain in a year on speculation Moloney's departure will help draw a takeover bid.
Read more at Bloomberg Stocks News
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