European Government Notes Head for Third Weekly Drop as Confidence Climbs

(Bloomberg) -- European two-year government notes are
headed for a third weekly decline after a report showed German
consumer confidence rose more than expected in June.

Benchmark two-year yields held near the highest in five
years after a report yesterday showed business sentiment in
Europe's biggest economy stayed near a record in May. Futures
trading shows investors are raising bets the European Central
Bank raising rates at least twice more this year.


Read more at Bloomberg Bonds News

Gold ticks up but dented by dollar, TOCOM slides

(Reuters) - Gold crawled up on Friday on light short-covering but held within sight of its lowest level in nine weeks, pressured by the recovery of the dollar, which had prompted investment funds to slash positions in the metal.

Key Tokyo Commodity Exchange gold futures fell 1.6 percent to a seven-week low as Japanese investors heavily liquidated their position after this week's falls.


Read more at Reuters Africa

Converium, Julius Baer, Swiss Reinsurance: Swiss Stock Market Preview

(Bloomberg) -- The following stocks may rise or fall
on the Swiss and Virt-x exchanges. Stock symbols are in
parentheses and prices are from the last close.

The Swiss Market Index of the 24 largest and most actively
traded companies lost 81.75, or 0.9 percent, to 9357.02. The
broader Swiss Performance Index dropped 63.67, or 0.8 percent, to
7614.41.


Read more at Bloomberg Stocks News

Eastern Australia Natural Gas Use, Prices Jump as Drought Cuts Coal Power

(Bloomberg) -- Eastern Australian natural gas
consumption and prices jumped in the first quarter as drought
cut production from hydropower and coal-fired generators,
EnergyQuest said.

Gas production in eastern Australia rose 20 percent in the
first quarter compared with a year earlier, the Adelaide-based
consulting firm said yesterday in a report. The average spot gas
price in Victoria state surged 27 percent to A$3.38 ($2.76) a
gigajoule, it said.


Read more at Bloomberg Energy News

Yen Gains Most In a Week in Two Months on Inflation Data, Asia Stock Slump

(Bloomberg) -- The yen headed for the biggest weekly
gain against the euro in more than two months as Japanese
inflation data and a slump in Asian stocks prompted traders to
pare investments in higher-yielding assets.

The yen advanced versus 13 of the 16 most-active currencies
as a slower decline in consumer prices supported the central
bank's case for higher interest rates. The currency traded near a
two-week high to the euro as investors reduced so-called carry
trades, in which they borrow in Japan to buy securities with
better returns overseas.


Read more at Bloomberg Currencies News

Philippine Trade Deficit Widens as Imports Rise at Fastest in Four Months

(Bloomberg) -- The Philippines trade deficit widened
in March after imports rose at the fastest pace in four months,
signaling that exports may accelerate in following months.

The shortfall was $119 million, from $10 million a year
earlier, the National Statistics Office said in Manila today.


Read more at Bloomberg Emerging Markets News

India's Government Bonds Decline; Investors May Sell Before Debt Auction

(Bloomberg) -- India's 10-year bonds fell for a
fourth day on speculation some investors sold part of their
holdings to make room for a government debt sale today.

The yield on the benchmark bond, which moves inversely to
the price, rose to a two-week high as the federal government
prepares to auction 80 billion rupees ($1.97 billion) of eight-
year and 15-year bonds as part of its annual borrowing program.


Read more at Bloomberg Bonds News

U.S. 10-Year Notes Head for Third Weekly Loss on Signs of Economic Growth

(Bloomberg) -- U.S. 10-year Treasury notes headed
for a third weekly loss as signs of growth in the economy
undermined expectations the Federal Reserve will cut interest
rates in 2007.

Yields held near the highest since January after the
Commerce Department said new home sales rose by the most in 14
years in April, indicating a rebound in a slowing housing market.
Fed Governor Frederic Mishkin said policy makers ``must never
take our eye off of the inflation ball,'' in a speech yesterday
at a Dallas Fed Bank conference.


Read more at Bloomberg Bonds News

UPDATE 1-Nasdaq declines to comment on OMX trading halt

(Reuters) - Swedish media reports have said OMX was talking about a
possible tie-up with Nasdaq, the largest U.S. electronic stock
market.




OMX, which owns and operates exchanges in Stockholm,
Helsinki, Copenhagen, Reykjavik and the Baltic states, said on
Thursday that trading in its shares had been halted and would
say more before the market opens on Friday.


Read more at Reuters.com Bonds News

GM, UAW reach deal on "jobs bank"

(Reuters) - GM and its Detroit-based rivals, Ford Motor Co



The "jobs bank" program, which the automakers and the union created in the 1980s, is expected to be one of the hot-button issues up for discussion.


Read more at Reuters.com Business News

UPDATE 1-US audit watchdog eases internal controls standard

(Reuters) - WASHINGTON, May 24 - Bowing to complaints from
businesses, the U.S. board that polices corporate auditors
voted on Thursday to relax its controversial standard for
auditing the internal financial controls of corporations.




The Public Company Accounting Oversight Board, in a 5-0
vote, eased the standard for Section 404 of the Sarbanes-Oxley
corporate reform law by making it more risk-based and less
comprehensive, aiming to cut compliance costs.


Read more at Reuters.com Government Filings News

Boeing Shares Rise After Banc of America Analyst Says 787 May Boost Profit

(Bloomberg) -- Boeing Co. shares had their biggest
gain in a month after Banc of America Securities LLC raised its
share-price forecast and said the new 787 Dreamliner may boost
earnings.

``If the 787 can stay on track, we think stronger earnings
and multiple expansion will drive the stock higher,'' wrote
analyst Robert Stallard, who has a ``buy'' rating on the stock.
Boeing is the world's second-largest commercial-plane maker after
Airbus SAS.


Read more at Bloomberg Stocks News

New homes sales rise 16.2 percent in April

(Reuters) - Analysts polled by Reuters were expecting April sales to rise to an 860,000 unit pace from a previously reported rate of 858,000 units in March.




In April, the median sales price of a new home fell $28,500 to $229,100 from $257,600 in March.


Read more at Reuters.com Business News

WRAPUP 2-U.S. April new home sales jump, prices fall

(Reuters) - WASHINGTON, May 24 - Sales of new U.S. homes rose
16.2 percent in April, the sharpest climb in 14 years as
builders slashed prices a record 11 percent, a government
report showed on Thursday, signalling stabilization in the
housing sector.




Other reports also reflected economic strength, indicating
the Federal Reserve would likely hold interest rates steady for
the foreseeable future.


Read more at Reuters.com Bonds News

European Stocks Drop on China Concern; BHP Billiton, Glaxo Shares Fall

(Bloomberg) -- European stocks declined for the first
time in three days after former Federal Reserve Chairman Alan
Greenspan said shares in China, the world's fastest growing major
economy, could face a ``dramatic contraction.''

BHP Billiton Ltd. and Arcelor Mittal paced a drop by
companies most dependent on sales in China. GlaxoSmithKline Plc
slipped for a fourth day after a study linked its Avandia
diabetes drug to an increased risk of heart attacks. Cable &
Wireless Plc limited losses as the U.K.'s second-biggest phone
company reported earnings that exceeded analysts' estimates.


Read more at Bloomberg Stocks News

Germany's DAX Index Recovers Losses; Siemens, E.ON Gain as TUI Shares Drop

(Bloomberg) -- German stocks including Siemens AG
gained. Tagesspiegel reported the engineering company's
management will focus on boosting the share price.

E.ON AG rose after Credit Suisse Group increased its share-
price estimate for Europe's biggest utility.


Read more at Bloomberg Stocks News

Dell to sell 2 desktop PC models in 3000 Wal-Marts

(Reuters) - "While we can't get into specifics, in the coming quarters there will be additional activity in support of this move into global retail," company spokesman Bob Pearson said. "Today's announcement with Wal-Mart represents our first step. Stay tuned."




Read more at Reuters.com Business News

UPDATE 1-US new home sales soar, prices post record drop

(Reuters) - WASHINGTON, May 24 - Sales of new U.S. homes rose
16.2 percent in April, the sharpest climb in 14 years, while
prices fell a record 11 percent, according to a government
report on Thursday that showed home builders taking
extraordinary steps to move houses.




New single-family home sales rose to an annual rate of
981,000 units from a revised rate of 844,000 in March, the
Commerce Department said.


Read more at Reuters.com Economic News

US RATE FUTURES-Tumble on higher April home sales

(Reuters) - April single family home sales were made at an annualized
981,000 unit rate, against the consensus forecast of 860,000,
although the median sales price tumbled 11.1 percent.




Read more at Reuters.com Bonds News

U.S. Stocks Rise on Home Sales Report; Shares of Pulte, KB Home Advance

(Bloomberg) -- U.S. stocks rose after sales of new
homes jumped the most in 14 years, spurring speculation that the
housing slump is nearing an end.

Pulte Homes Inc. and KB Home led all 16 homebuilders in
Standard & Poor's indexes higher after the Commerce Department
said purchases increased 16 percent in April.


Read more at Bloomberg Stocks News

UPDATE 1-Finlay reports wider 1st-quarter loss

(Reuters) - The company posted a first-quarter loss of $7.6 million, or
84 cents per share from continuing operations, compared with a
loss of $6.3 million, or 70 cents per share, a year earlier.




Including income of 71 cents per share from discontinued
operations, the company earned 1 cent per share in the year-ago
quarter.


Read more at Reuters.com Market News

Taser gets four orders for electronic control devices

(Reuters) - Taser said the orders are expected to be shipped in the second quarter of 2007.




Shares rose more than 6 percent to $10.15 in electronic trade, after closing at $9.54 Wednesday on the Nasdaq.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Colombia peso weakens after new capital controls

(Reuters) - The peso closed Wednesday trading at 1,965.5 versus the
greenback.




Colombia late on Wednesday introduced a mandatory 40
percent, six-month deposit requirement on short-term foreign
portfolio investment to slow a surge in the peso, which has
appreciated more than 11 percent this year.


Read more at Reuters.com Bonds News

Harvard's Fishman Focuses Novartis on Rare Disease to Find Arthritis Cure

(Bloomberg) -- Mark Fishman says Novartis AG's most-
productive research may come from a disease called Muckle-Wells
that affects 1,000 people.

Fishman, Harvard University's top cardiologist and
Novartis's head scientist, is determined to uncover whether rare
diseases, such as Muckle-Wells, share some of the same biological
makeup as cancer and arthritis. Since he joined Switzerland's
largest drugmaker four years ago, Fishman has sought to identify
``disease pathways'' in unusual disorders that may help lead
scientists to drugs for more common ones.


Read more at Bloomberg Exclusive News

U.S. Stock-Index Futures Retreat; Network Appliance, Toll Brothers Decline

(Bloomberg) -- U.S. stock-index futures rose after a
report on durable goods reinforced expectations that a rebound in
manufacturing will stimulate economic growth.

Boeing Co., the world's second-largest commercial aircraft
maker, and Honeywell International Inc., the biggest maker of
airplane controls, led gains.


Read more at Bloomberg Stocks News

Dollar Gains Versus Euro as Durables Excluding Transportation Match Gain

(Bloomberg) -- The dollar gained versus the euro
after a government report showed orders for durable goods
excluding transportation in the U.S. during April matched the
prior month's increase.

Traders reduced bets the Federal Reserve will cut borrowing
costs this year.


Read more at Bloomberg Currencies News

Dolby Laboratories, Taser International, Foot Locker: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.
Shares prices are as of 8:10 a.m. New York time.

CA Inc. (CA US) fell $1.39, or 5 percent, to $26.45 in
trading before U.S. exchanges opened. The second-largest maker of
software for mainframe computers posted an unexpected fourth-
quarter loss after orders declined. The net loss was 4 cents a
share, the company said. Analysts anticipated earnings of 20
cents, the average estimate in a survey compiled by Bloomberg.


Read more at Bloomberg Stocks News

Copper Gains in London on Falling Stockpiles, Strike Threat; Nickel Rises

(Bloomberg) -- Copper snapped two days of losses in
London as stockpiles fell to a six-month low and on speculation
about possible supply disruptions in South America.

Inventories in warehouses tracked by the London Metal
Exchange dropped for a fifth consecutive day, to their lowest
since November. Workers at two mines and a smelter in Peru
belonging to Southern Copper Corp. have threatened to strike next
month because of delays in wage talks, Dow Jones reported.


Read more at Bloomberg Commodities News

Shoe Carnival Q1 profit falls

(Reuters) - Analysts on average expected earnings of 53 cents a share,
before items, on revenue of $177.3 million, according to
Reuters Estimates.





Read more at Reuters.com Market News

UPDATE 2-Toll Brothers profit falls on housing downturn

(Reuters) - Net income fell 79 percent, to $36.7 million, or 22 cents a
share, in the second quarter ended April 30 from $174.9
million, or $1.06 a share, a year earlier.




The profit beat analysts' average expectation of 14 cents a
share, according to Reuters Estimates.


Read more at Reuters.com Market News

European Union Carbon Emission Permits for 2008 Climb to 11-Month High

(Bloomberg) -- European Union carbon-dioxide permits
climbed to their highest in almost a year, boosting the price of
electricity for next year in the region amid speculation that a
shortage of allowances through 2012 may exist.

Emission permits for December 2008 rose as much as 93
cents, or 4.2 percent, to 23.05 euros ($31) a metric ton,
according to prices from the European Climate Exchange in
Amsterdam. That's their highest since May 30 last year. They
traded at 22.90 euros at 11:47 a.m. local time.


Read more at Bloomberg Energy News

Ghana May Be First Sub-Saharan African Seller of Eurobond Except S. Africa

(Bloomberg) -- Ghana plans to sell its first Eurobond
in July, the first sub-Saharan African country outside South
Africa to do so, as it seeks to raise as much as $750 million to
fund infrastructure projects.

In July 2005 Ghana, the world's second-largest cocoa
producer, was chosen as one of 18 countries by the Group of Eight
to have its debt to the International Monetary Fund, the World
Bank and African Development Bank canceled. Power shortages in
Ghana's capital Accra are crimping economic growth, with supply
currently rationed and outages averaging four times a week for as
much as 12 hours at a time.


Read more at Bloomberg Bonds News

China Needs Bigger Rate Increases, Too Late for Yuan, CLSA's Walker Says

(Bloomberg) -- China needs to ``shock'' the economy
with more interest-rate increases because it's too late to use a
stronger yuan to cool growth, said Jim Walker, chief economist
at CLSA Asia-Pacific Markets.

The Chinese government is too concerned about derailing
export growth as the U.S. economy slows to let the yuan rise
faster, Hong Kong-based Walker said. Higher borrowing costs
would prevent the flood of cheap credit from spurring a stock-
market bubble and excessive investment.


Read more at Bloomberg Currencies News

KPN eyeing Austrian mobile operator ONE

(Reuters) - KPN, the former Dutch telecoms monopoly, has repeatedly said
it would look at options to expand into other European markets,
arguing there are opportunities to export its approach of
targeting specific market segments and focusing on fixed-mobile
substitution.




The company, which is active in the Netherlands, Belgium and
Germany, has said it could buy an operator outright or act as a
virtual operator on a competitor's network.


Read more at Reuters.com Mergers News

Euro falls after Ifo, US data eyed

(Reuters) - The euro fell towards recent six-week lows versus the dollar on Thursday after below-forecast German business sentiment data sparked some liquidation of overstretched long positions in the single currency.

The Ifo business climate index was steady at 108.6 in May, below a consensus forecast for a rise to 108.8. Current conditions came in at 112.5 compared with expectations for 113.5 while the expectations component rose to 104.8 versus a forecast of 104.5.


Read more at Reuters Africa

GLOBAL MARKETS-Stocks retreat on Greenspan warning, oil hits $71

(Reuters) - LONDON, May 24 - Global stocks dipped from record
highs on Thursday after former U.S. Federal Reserve chairman
Alan Greenspan said he expects a "dramatic contraction" in
booming Chinese shares, while oil jumped to a nine-month peak.




The euro sank to a session low against the dollar and the
yen after data showed German business confidence failed to rise
in May as economists had expected.


Read more at Reuters.com Bonds News