Rubber Futures Advance in Tokyo as Weakening Yen Boosts Contract's Value

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, gained for a second day in eight, as gains in the U.S.
currency boosted the value of yen-denominated contracts for the
commodity, which trades globally in dollars.

The dollar climbed to its highest in more than four years
against the yen, strengthening 1.5 percent in the past week to as
much as 122.84 yen today in Asian trading. Rubber yesterday
snapped a six-day losing streak in Tokyo.


Read more at Bloomberg Commodities News

European Stocks May Rise; Daimler, BHP Billiton, Rio Tinto May Advance

(Bloomberg) -- European stocks may advance for a
second day, led by exporters and mining companies, after the
Federal Reserve said the world's largest economy is growing without
spurring inflation and copper prices gained in Asia.

DaimlerChysler AG and Barclays Plc will probably advance
after their U.S.-traded securities ended higher than the close in
Europe. BHP Billiton Ltd., the world's biggest mining company,
and Rio Tinto Group gained in Australia.


Read more at Bloomberg Stocks News

Treasuries Little Changed; Report Will Probably Show Producer Price Gain

(Bloomberg) -- U.S. Treasuries were little changed,
after a six-week increase in yields, before a government report
today that will probably show rising inflationary pressures.

The Labor Department may say producer prices excluding food
and energy costs increased 0.2 percent in May from a month
earlier, after being unchanged in April, according to a
Bloomberg News survey of economists. Ten-year notes yesterday
rose the most since February as some investors bet higher global
borrowing costs will slow economic growth.


Read more at Bloomberg Bonds News

Speculators Buy Options Giving the Right to Sell Yen at 127 to U.S. Dollar

(Bloomberg) -- Speculators bought at least $1
billion of options giving them the right to sell the yen at 127
to the dollar in six months, in a sign the world's worst-
performing currency this quarter may extend losses.

The put options grant the right to sell the currency at a
designated strike price. They traded with an implied volatility
of 6.38 percent, said Takeharu Miki, a currency options trading
manager at Bank of Tokyo-Mitsubishi UFJ Ltd. Implied volatility,
a measure of expectations for future currency swings, is quoted
as part of pricing options.


Read more at Bloomberg Currencies News

Thai Bonds Gain as Benchmark Yields Near 14-Week High Attract Investors

(Bloomberg) -- Thailand's 10-year bonds rose,
halting a five-day decline, on speculation yields at the highest
in more then three months will attract investors. The baht was
little changed.

Yields on the securities have risen by more than half a
percentage point this month as investors bet the central bank
will slow the pace of interest rate cuts in the second half of
the year. The Bangkok-based University of Thai Chamber of
Commerce will release its May consumer confidence index today.


Read more at Bloomberg Bonds News

Cie. Maritime, Elekta, Fiat, TomTom, Union Fenosa: European Equity Preview

(Bloomberg) -- The following stocks may rise or
fall in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 climbed 0.4 percent to 388.22. The
Dow Jones Stoxx 50 Index increased 0.4 percent to 3879.38. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, advanced 0.4 percent to 4401.68.


Read more at Bloomberg Stocks News

Asian Casinos to Help Macau, American Gaming Association's Fahrenkopf Says

(Bloomberg) -- The legalization of casinos in
several Asian countries will help, not hurt Macau, the only
Chinese city where casino gambling is legal, said Frank
Fahrenkopf, head of the biggest gaming organization in the U.S.

Having casinos in other Asian cities ``will get more people
exposed to gaming and will get more people interested in coming
to Macau,'' Fahrenkopf, president and chief executive officer of
the American Gaming Association, said in an interview on the
sidelines of a gaming trade show in Macau yesterday.


Read more at Bloomberg Emerging Markets News

Dominion says to buy back up to $2.5 bln in debt

(Reuters) - The company said it would fund the transaction with a
portion of the proceeds of the pending sale of its offshore
exploration and production assets to ENI Plc . That
$4.76 billion deal is due to close in July.




Read more at Reuters.com Bonds News

Asian Stocks Rebound From Two-Week Low on Fed Report; Toyota, Samsung Gain

(Bloomberg) -- Asian stocks rebounded from a two-
week low as U.S. retail sales jumped and bond yields dropped
after the Federal Reserve's Beige Book survey showed the world's
biggest economy was growing without stoking inflation.

Toyota Motor Corp. and Samsung Electronics Co. advanced as
concern eased that demand in the region's largest export market
will slow. BHP Billiton Ltd. led mining shares higher after
metals prices climbed.


Read more at Bloomberg Stocks News

Japan's Shares Climb, Led by Sony, After U.S. Spending Jumps, Yen Weakens

(Bloomberg) -- Japanese stocks rose after U.S.
retail sales jumped by the most in more than a year and bond
yields dropped. Exporters including Sony Corp. led gains on
speculation higher consumer spending and lower borrowing costs
in Japan's largest overseas market will lift profits.

Exporters such as Toyota Motor Corp. also got a boost after
the yen weakened to the lowest against the dollar since 2002,
and the Federal Reserve said in its Beige Book survey the U.S.
economy is growing without stoking inflation, helping push bond
yields lower.


Read more at Bloomberg Stocks News

China, India, Philippines, Singapore, Thailand: 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 government yesterday moved to expand the
nation's debt market by giving the stock-market regulator the
power to approve bond sales by publicly traded companies. The
China Securities Regulatory Commission will approve sales of
bonds with maturities of more than one year by domestic
companies, the agency said in a statement on its Web site. The
regulator didn't say when the rule will take effect.


Read more at Bloomberg Bonds News

U.S. panel rejects Sanofi obesity drug

(Reuters) - French drugmaker Sanofi-Aventis SA sells the medicine in 18 countries under the name Acomplia. Advisers to the Food and Drug Administration said there were too many questions about potential side effects to support U.S. approval.




"I think this is a drug that needs further understanding with respect to what it does to people's psyche," said Dr. Sid Gilman, a panel member and a University of Michigan neurologist.


Read more at Reuters.com Hot Stocks News

CSC profit up, shares fall after revenue miss

(Reuters) - Its shares slipped 2 percent in extended trading following the earnings report, after closing up 2.4 percent in regular-session trading on the New York Stock Exchange.




Net income in the company's fiscal fourth quarter ended March 30 increased to $249.7 million, or $1.42 per share, from $158.8 million, or 84 cents per share, a year earlier.


Read more at Reuters.com Business News

UPDATE 1-SS&C Technologies files for up to $200 mln IPO

(Reuters) - The Windsor, Connecticut-based company, which provides
software and services to allow financial services providers to
automate their business processes, said Morgan Stanley, Credit
Suisse and JPMorgan will be the lead underwriters for the IPO.




Jefferies & Co. and Wachovia Securities are assisting in
the underwriting, according to a preliminary filing with the
U.S. Securities and Exchange Commission.


Read more at Reuters.com Government Filings News

UPDATE 1-JetBlue reviews strategy for second time

(Reuters) - Dave Barger, who took over for David Neeleman a month ago,
told a Merrill Lynch conference that he would have a clearer
picture in about 60 days on the airline's direction.




JetBlue reduced its growth outlook last year. and Barger
said cost discipline since has been good. "But there is still
opportunity for improvement," he said.


Read more at Reuters.com Mergers News

Nasdaq says no more Europe deals until OMX goals met

(Reuters) - He added that expected changes in European Union regulations will likely open other markets in that region, so Nasdaq's tie-up with OMX will help the company take advantage of those opportunities. Nasdaq announced a deal to buy OMX for $3.7 billion in May.



With the deal, Nasdaq, the second-largest U.S. stock exchange, will gain access to stock and options markets in Europe as well as OMX's exchange technology business.


Read more at Reuters.com Mergers News

Canadian Dollar Rebounds From Two-Week Low on Commodities, Dodge Comments

(Bloomberg) -- The Canadian dollar rose from a two-
week low as prices of the nation's main commodity exports
advanced and the central bank governor said the currency's
recent appreciation was due to an improving economy.

``The fundamental story for Canada hasn't changed,'' said
Jack Spitz, director of foreign exchange trading at National
Bank Financial in Toronto. ``We got an economy which is
strengthening and inflation is exceeding the Bank of Canada's
target.''


Read more at Bloomberg Currencies News

Platinum, Palladium Decline in New York as Dollar, Bond Yields Strengthen

(Bloomberg) -- Platinum fell the most in two weeks
in New York as a stronger dollar and higher bond yields reduced
the appeal of the metal as an alternative investment. Palladium
also dropped.

The dollar rose for the sixth-straight day against a basket
of six major currencies after a U.S. government report showed
retail sales increased more than economists had forecast. U.S.
10-year Treasuries surged the most since February as speculators
bet that yields at five-year highs will curb inflation.


Read more at Bloomberg Commodities News

Fidelity cuts stake in Dow Jones, RadioShack

(Reuters) - Boston-based Fidelity was the third largest shareholder of
Dow Jones at the end of March, with about 4.65 million shares.
Shares of Dow Jones rose 77 percent from the end of March to
June 1, during which Rupert Murdoch's News Corp. made
a $5 billion bid for the firm at $60 per share.




Fidelity slashed its RadioShack holdings in half over the
same period, to about 10 million shares, another filing
revealed.


Read more at Reuters.com Mergers News

UPDATE 3-Brazil's economy grows slower in 1st quarter

(Reuters) - Gross domestic product expanded 4.3 percent in the first
quarter of this year when compared with the first quarter of
2006 , the national statistics agency IBGE said.




The economy was expected to have grown 1.1 percent from the
fourth quarter of 2006 and 4.5 percent from the first quarter
of 2006, according to median estimates in a Reuters survey.


Read more at Reuters.com Bonds News

US Air close on Boeing vs Airbus decision: CFO

(Reuters) - Boeing last year won back the title of biggest-selling planemaker from Airbus, due largely to sales of its 787.




US Airways, the No. 7 U.S. airline, in terms of revenue, is still negotiating with both companies, Derek Kerr said on a Webcast of a transportation conference sponsored by Merrill Lynch.


Read more at Reuters.com Business News

US STOCKS-Indexes rise as U.S. bond yields retreat

(Reuters) - NEW YORK, June 13 - U.S. stocks rose on Wednesday
as a pullback in benchmark bond yields triggered a rebound in
interest-rate-sensitive shares including banks, utilities and
home builders.




Data signaling strength in U.S. consumer spending also
reassured investors, lifting shares of big manufacturers such
as plane maker Boeing Co. and those of consumer-oriented
companies such as Altria Group .


Read more at Reuters.com Bonds News

German, French Power Prices to Rise on Higher Costs, Merrill Lynch Says

(Bloomberg) -- German and French electricity prices
for 2008 may extend gains on higher carbon emission permits and
oil and coal costs, according to Merrill Lynch & Co., the
world's third-largest security firm.

Power for delivery next year in Germany, Europe's biggest
electricity market, is trading at an 11-month high while its
French counterpart is near the highest in seven months. There's
scope for further gains because input costs have outpaced power
prices, said London-based Merrill strategists including
Francisco Blanch and Sabine Schels.


Read more at Bloomberg Energy News

Ceridian responds to Pershing on sale plans

(Reuters) - "The Board welcomes involvement by shareholders and is prepared to review any proposals that might result in a superior proposal per the merger agreement," Minneapolis-based Ceridian said.



Ceridian responded one day after New York-based hedge fund Pershing Square Capital Management, which owns 14.9 percent of the company, said it opposes the plan to sell Ceridian for $36 a share.


Read more at Reuters.com Bonds News

Brazil's Bovespa Gains on U.S. Sales, Led by Petrobras; Bancolombia Rises

(Bloomberg) -- Brazil's main stock index gained for
the third time in four days, boosted by a report that retail sales
in the U.S., the South American country's biggest trade partner,
rose the most in a year in May.

The Bovespa index of the most-traded stocks on the Sao Paulo
exchange rose 634.06, or 1.2 percent, to 52,431.20 as of 12:40 p.m.
New York time, after a 1.9 percent loss yesterday. Petroleo
Brasileiro SA, the state-controlled oil company, led the gain.


Read more at Bloomberg Stocks News

Blockbuster shares up 10 pct after Citi upgrade

(Reuters) - Citigroup analyst Tony Wible, who cut his rating on Netflix on Tuesday, raised his rating on Blockbuster late that evening, saying the company's marketing expenses to promote its Total Access online offering "are now fully priced into the stock." He also cited improving box office returns and a lessening near-term threat from video-on-demand.




Blockbuster and Netflix have been battling over the online DVD rental market, which is projected to grow by 43 percent this year. Netflix has a larger subscriber base, but Blockbuster has been growing faster since the launch last year of its Total Access plan, which let online subscribers swap DVDs at its stores for free rentals.


Read more at Reuters.com Hot Stocks News

Rand firms as US Treasury yields retreat

(Reuters) - South Africa's rand reversed earlier losses against the dollar and firmed on Wednesday as a retreat in U.S. Treasury yields offset the impact of dollar-friendly U.S. retail sales data.

The dollar rose to a 4-1/2 year high against the yen, buoyed by figures which showed U.S. retail sales growth in May as the highest since January 2006, signalling a pickup in economic growth.


Read more at Reuters Africa

Sugar Declines as Harvests in Brazil, India to Increase Worldwide Surplus

(Bloomberg) -- Sugar fell in New York on
speculation that record harvests in Brazil, the world's biggest
grower, and India, the second-largest, will increase a global
surplus.

Brazil's cane harvest this year will rise 13 percent to
513.3 million tons, the government estimates. India may export
raw sugar for the first time, adding to a worldwide glut. Before
today, the price of sugar dropped 24 percent this year.


Read more at Bloomberg Commodities News

U.S. Stocks Gain as Treasury Bonds Erase Losses; Target, Citigroup Advance

(Bloomberg) -- U.S. stocks gained after retail
sales jumped more than forecast and bond yields fell.

Target Corp., the second-biggest discount chain, and Home
Depot Inc., the largest home-improvement retailer, climbed.
Citigroup Inc. and JPMorgan Chase & Co. rose and financial
shares contributed the most to the advance in the Standard &
Poor's 500 Index.


Read more at Bloomberg Stocks News

Nymex Gas Rises on Forecasts for Warmer Weather in U.S. Midwest, Northeast

(Bloomberg) -- Natural gas in New York rose for a
second day on forecasts for hot weather over the most populous
regions of the U.S., sparking demand for electricity to power air
conditioners.

``Chicago is going to be in the 90s, high 80s next week and
the forecast for the next couple of weeks is fairly positive for
gas prices,'' said Peter Linder, an energy analyst with DeltaOne
Capital Partners in Calgary.


Read more at Bloomberg Energy News

Yen Declines to Lowest Against Dollar Since 2002 on U.S. Treasury Yields

(Bloomberg) -- The yen fell to the lowest against
the dollar since December 2002 and declined against the euro as
Treasury yields near the highest in five years encouraged
investment outside Japan.

Japan's currency dropped against all of its 16 most active
counterparts tracked by Bloomberg on an increase in carry trade
purchases of higher-yielding assets financed by borrowings in
the yen. The U.S. currency pared its gain against the euro as
benchmark Treasury yields dropped from five-year highs.


Read more at Bloomberg Currencies News

UPDATE 1-U.S. says China not deliberately undervaluing yuan

(Reuters) - WASHINGTON, June 13 - The U.S. Treasury
Department on Wednesday labeled China's currency "undervalued"
and pledged to keep pushing for it to appreciate but said
Beijing was not manipulating its currency for trade gains.




The widely anticipated finding, in a semiannual report to
Congress on exchange-rate policies of key trade partners, was
certain to be a red flag for U.S. lawmakers who have lined up
to present legislation aimed at confronting China more directly
on its currency practices.


Read more at Reuters.com Bonds News

U.K. Stocks Rally, Paced By Antofagasta, Xstrata, Rio Tinto; ISEQ Slides

(Bloomberg) -- U.K. stocks gained, led by
Antofagasta Plc. The owner of three copper mines in Chile rose to
a record after saying 2007 will be a ``good'' year as demand in
China, the world's biggest consumer of the metal, keeps prices
``firm.''

Rio Tinto Group and Xstrata Plc also climbed. J Sainsbury
Plc gained on renewed takeover speculation.


Read more at Bloomberg Stocks News

U.S. April business inventories rise 0.4 pct

(Reuters) - Business sales at retailers, manufacturers and wholesalers
rose 0.7 percent in April to $1.1 trillion.




Financial markets had looked for a 0.3 percent rise in
inventories after a previously reported reading of a 0.1
percent fall in March.


Read more at Reuters.com Economic News

Bonds fall after retail sales, import prices

(Reuters) - The benchmark 10-year note's price rose 6/32 for a yield of 5.26 percent, compared with 5.29 percent late on Tuesday. Bond yields and prices move inversely.




Read more at Reuters.com Hot Stocks News

Sunstone Hotel says prices $220 mln senior notes due 2027

(Reuters) - Sunstone plans to use about $175.0 million of the net
proceeds and other working capital to repay and/or defease the
$175.0 million loan on the Hyatt Regency Century Plaza Hotel
and repurchase up to about $60.0 million of its common stock.





Read more at Reuters.com Bonds News

Anglo to spend $3.5 bln in Africa over 5 yrs - CEO

(Reuters) - Anglo American Plc, the world's third biggest mining group, plans to inject $3.5 billion of new investment into Africa over the next five years, its chief executive said on Wednesday.

Cynthia Carroll, the CEO of Anglo, said her firm would pump the money into several exploration and mining projects across the continent, which she said is seeing strong growth and reduced political risk.


Read more at Reuters Africa

Boots pension deal seen 'in days' - sources

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL], whose 11.1 billion pound offer was approved last month, has offered the scheme about 340 million pounds over 10 years plus a 600 million pounds safety package, one source said, and discussions are now focusing on technical aspects.



"It's very easy to say something's worth 600 million pounds and when it comes to it, it's worth 100 million pounds," another source close to the matter said.


Read more at Reuters.com Mergers News

Vodacom says S. Africa subscribers up 20.1 pct

(Reuters) - South Africa's leading mobile phone operator, Vodacom, increased subscribers in its home market by 20.1 percent to 23 million, boosted by prepaid clients, the company said on Wednesday.

Vodacom, jointly owned by UK mobile phone group Vodafone and South Africa's Telkom, gave detailed annual results on Wednesday after announcing a 23 percent rise in full-year operating profit to 10.9 billion rand on May 29.


Read more at Reuters Africa

U.S. Stock-Index Futures Pare Losses; Ford and Sapient Advance in Europe

(Bloomberg) -- U.S. stock-index futures recouped
losses. Shares of Ford Motor Co. and Sapient Corp. led gains
among stocks traded in Europe.

Standard & Poor's 500 Index futures expiring in September
added 1.1 to 1508.6 at 11:31 a.m. in London after falling as much
as 3.8 earlier. Dow Jones Industrial Average futures decreased 3
to 13,418. Nasdaq-100 Index futures advanced 1.5 to 1919.5.


Read more at Bloomberg Stocks News

Ceridian shareholder says does not support sale at "low price"

(Reuters) - Ceridian last month agreed to be bought by private equity firm Thomas H. Lee Partners and insurance company Fidelity National Financial Inc. for $5.3 billion in cash or $36 per share.







Read more at Reuters.com Business News

U.S. Stock-Index Futures Fall; DuPont, Caterpillar, Chevron Shares Slide

(Bloomberg) -- U.S. stock-index futures dropped
before the release of a Federal Reserve report that may give
investors clues on the direction of interest rates.

Shares of DuPont Co., the third-largest U.S. chemical maker,
and Caterpillar Inc., the world's biggest supplier of earthmoving
equipment, slipped in Europe, pacing declines among companies
most sensitive to higher rates.


Read more at Bloomberg Stocks News

Hedge Funds Warn SEC to Watch for Manipulation of Subprime Mortgage Bonds

(Bloomberg) -- A group of hedge funds is telling
the U.S. Securities and Exchange Commission to be on the lookout
for manipulation of bonds backed by subprime mortgages.

Paulson & Co., based in New York, told the SEC that
investment banks may pay inflated prices to buy bad loans that
are collateral for bonds, said Michael Waldorf, a senior vice
president at the hedge fund. Removing delinquent loans may
prevent bonds from defaulting and triggering losses in the
banks' investments in derivatives, he said. Waldorf declined to
name the other hedge funds that also warned the SEC.


Read more at Bloomberg Bonds News

Hedge funds' hopes rise for China opening

(Reuters) - Chinese officials remain suspicious of overseas hedge funds, after witnessing the turmoil partly blamed on the likes of financier George Soros' Quantum Fund during the 1997/98 Asian financial crisis.




Unlike foreign banks, mutual funds and brokerages, hedge funds are excluded from forming fund management ventures in China, which Barclays Capital predicts will offer the highest growth potential of any asset management market in Asia over the next two years.


Read more at Reuters.com Business News

Asian Aframax Oil Tanker Rates Are Steady Before Start of July Bookings

(Bloomberg) -- The cost of shipping 80,000 metric
tons of oil on Asian routes, which has risen the last two weeks,
may be little changed before hirers start making bookings for
July, shipbrokers said.

The rate of shipping crude or fuel oil on so-called Aframax
tankers to Singapore from Kuwait was unchanged at Worldscale
145.96 yesterday, according to the London-based Baltic Exchange.
The cost of shipping on the route has risen 5.2 percent in the
last two weeks.


Read more at Bloomberg Energy News

Icelandic Currency, Stocks Attract Investors (Again) a Year After Meltdown

(Bloomberg) -- Iceland's stock market and currency
are among the world's best performers this year after teetering
on the brink of collapse in 2006. The island's rebounding economy
and high interest rates will drive more gains.

``Stocks will rally another 10 to 15 percent,'' said
Gudmundur Gudmundsson, head of trading at Kaupthing Bank hf in
Reykjavik. ``The krona is still going strong and will retain its
strength in 2007'' on expectations rates will stay near records.


Read more at Bloomberg Currencies News

Vodacom says S.Africa subscribers up 20.1 pct

(Reuters) - South Africa's leading mobile phone operator Vodacom increased subscribers in its home market by 20.1 percent to 23 million, boosted by prepaid clients, the company said on Wednesday.

Vodacom, jointly owned by UK mobile phone group Vodafone and South Africa's Telkom, gave detailed annual results on Wednesday after announcing a 23 percent rise in full-year operating profit to 10.9 billion rand on May 29.


Read more at Reuters Africa