Gold inches up on bargain hunting, investors cautious

(Reuters) - Gold was slightly higher than

New York levels on Monday but investors remained cautious because of the dollar's strength, sales by central banks as well as surging stock markets.


Read more at Reuters Africa

China's Stock Index Breaches 4,000 for First Time After Doubling This Year

(Bloomberg) -- China's CSI 300 Index rose above 4000
for the first time, driven by a surge in new investors who are
ignoring warnings of a bubble to enter a market that's doubled
this year. China Merchants Bank Co. paced the gain.

``There is lots of liquidity flowing into the market,'' said
Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset
Management Co. in Shanghai. ``Even fund mangers dare not sell
their shares at this stage, as no one knows when the rally will
be over.''


Read more at Bloomberg Stocks News

Iberia Lineas Aereas, Mota-Engil, Acciona, Ercros: Iberia Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Spain and Portugal. Stock symbols follow company names and
prices are from the last close.

The IBEX 35 Index lost 0.3 percent to 15,053.20 as 23 stocks
declined, nine rose and three were unchanged. Portugal's PSI-20
Index lost less than 0.1 percent to 12,891.37.


Read more at Bloomberg Stocks News

JGBs recover as rising yields lure investors

(Reuters) - Expectations that interest rates will rise in the coming
months weigh on market sentiment, pushing the two-year yield to a
10-year high and five-year yields closer to seven-month highs
earlier in the session ahead of key economic data and speeches by
Bank of Japan officials later this week.




While traders said market sentiment remained weak, selling
has subsided for now as the market confirmed some resistance
points, prompting investors and dealers to buy back bonds which
have become cheaper after several days of heavy selling.


Read more at Reuters.com Bonds News

Tanjong to Buy Globeleq for $493 Million to Gain Power Generation Assets

(Bloomberg) -- Tanjong Plc, a Malaysian power
generation and betting group, agreed to buy Globeleq Ltd. for
$493 million, gaining generation plants in Egypt, Bangladesh,
Pakistan and Sri Lanka.

Tanjong will purchase Globeleq from CDC Globeleq Holdings
Ltd. in cash, the Kuala Lumpur-based company said in a statement
today. Tanjong shares were halted for the announcement.


Read more at Bloomberg Emerging Markets News

Japan Shares Rebound, Led by Sony, on Weaker Yen, Higher Commodity Prices

(Bloomberg) -- Japanese stocks rebounded from their
biggest loss in a month, led by exporters after the yen weakened
against the dollar and euro, boosting the value of their
overseas sales. Trading companies gained after commodities
prices rose at the end of last week.

Sony Corp., the maker of the PlayStation 3 game console,
rose for the first time in four days. Mitsubishi Corp., the
nation's largest trading company, jumped 2.2 percent.


Read more at Bloomberg Stocks News

China, India, Singapore, Taiwan, the Philippines: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The economy will grow 10.4 percent next year, the
Organization for Economic Co-operation and Development said in
its semi-annual outlook released May 24. That's less than the
10.7 percent the Paris-based group forecast six months ago.
Growth this year is predicted to be 10.4 percent, compared with
an earlier forecast of 10.3 percent.


Read more at Bloomberg Bonds News

South Korea Shares Gain, Led by Shinhan Financial, Posco and S.K. Corp.

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.37 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange rose
6.01 to 1,650.57. Among the stocks in the index, 471 rose, 168
fell and 92 were unchanged.


Read more at Bloomberg Stocks News

Asian Stocks Rise in U.S. Trading, led by BHP Billiton, Commodity Shares

(Bloomberg) -- Asian stocks rose in U.S. trading as
price increases in oil, gold and other metals lifted commodity
shares including BHP Billiton.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, gained 0.6 percent to
162.19. For the week, it added 0.3 percent.


Read more at Bloomberg Stocks News

Crude Oil Falls on Speculation Rising U.S. Gasoline Output Will Cut Prices

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. fuel prices may ease as refiners increase output
to meet summer demand.

U.S. gasoline production rose to its highest since December
in the week ended May 18, increasing inventories for a third week.
Stockpiles that week were 7 percent below the five-year average
on May 18, according to Energy Department data. Oil workers in
Nigeria ended a two-day strike after the government agreed new
pay and benefits, Reuters reported May 26.


Read more at Bloomberg Energy News

WEEKAHEAD-Emerging debt cautious on China, U.S. Treasuries

(Reuters) - Investors in riskier emerging market stocks and bonds were
unnerved by comments last week by former Federal Reserve
Chairman Alan Greenspan who suggested Chinese stocks were
overvalued.




In addition, the rise in U.S. Treasury bond yields in the
past week has attracted some investment flows out of emerging
debt markets.


Read more at Reuters.com Bonds News

Coke in talks to buy Highland Spring: UK papers

(Reuters) - A spokeswoman for Highland Spring declined to comment. Coke could not be immediately reached.




Coke's foray into the British water market three years ago failed after samples of its Dasani bottled water showed it was little more than filtered tap water. Coke withdrew the product from British shops.


Read more at Reuters.com Mergers News

Algeria says HSBC wins permit to start local bank

(Reuters) - Algeria's central bank has decided to permit HSBC, Europe's largest bank, to set up an Algerian bank, state-owned newspaper El Moudjahid reported on Sunday.

A central bank statement reprinted by the newspaper said: "The bank's money and credit committee, after deliberations, has decided to permit the establishment of the HSBC Algerie bank."


Read more at Reuters Africa