Brasil Telecom, Edelnor, ICA, Petrobras May Move: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Latin American markets
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.


Read more at Bloomberg Stocks News

China Names New Head for Agricultural Bank, Signaling Progress on Bailout

(Bloomberg) -- China appointed central bank Deputy
Governor Xiang Junbo as president of Agricultural Bank of China
to lead the overhaul and public share sale of a lender with $99
billion of bad debt.

Xiang, 50, replaces Yang Mingsheng, Beijing-based
Agricultural Bank said. Yang, a 27-year veteran of the bank, was
nominated by the State Council as vice chairman of China's
insurance regulator.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Pioneer sees recovery delay, cross-shareholdings

(Reuters) - TOKYO, July 6 - Pioneer Corp. said it
expects a one-year delay in hitting its mid-term profit target
and that the electronics maker may step up cross-shareholdings
with financial institutions to fend off hostile takeover bids.




Pioneer President Tamihiko Sudo also said in an interview
with Reuters that the company will decide whether to build a new
plasma panel plant by October 2007. The new plant, if built,
would start commercial production by early 2009.


Read more at Reuters.com Mergers News

Fosun Raises $1.5 Billion in Share Sale That Drew Alwaleed, People Say

(Bloomberg) -- Fosun International Ltd., China's
biggest diversified company outside state control, raised
HK$11.54 billion ($1.5 billion) in an initial public offering
after investors ordered more than 200 times the stock on offer,
people with knowledge of the matter said.

The company, with businesses from steel to pharmaceuticals,
sold 1.25 billion shares at HK$9.23 apiece, the top of the
marketed price range, said the two people, who declined to be
identified as the information isn't public. The sale represents
a 20 percent stake in the Shanghai-based firm.


Read more at Bloomberg Emerging Markets News

Euro 'Double Top' May Prompt Slide to $1.3430, Tokyo Forex's Ishikawa Says

(Bloomberg) -- The euro may fall to $1.3430 against
the dollar, said Masanobu Ishikawa, general manager of foreign
exchange at Tokyo Forex & Ueda Harlow Ltd., citing charts that
some traders use to predict currency movements.

The single European currency's advance to $1.3659 yesterday
formed a so-called double-top formation, with the previous peak
an all-time high of $1.3681 on April 27. The pattern indicates a
currency may decline, triggering a slide in the euro to $1.3430
in one week, Ishikawa said.


Read more at Bloomberg Currencies News

China Glass, Deutsche Telekom, Japan Tobacco, Neo-China: Asia Bond Alert

(Bloomberg) -- The following is a list of bond sales
in Asia expected in the coming days and weeks.

Investment Grade


Read more at Bloomberg Bonds News

UPDATE 6-Advanced Medical bids for Bausch & Lomb - sources

(Reuters) - PHILADELPHIA, July 5 - Advanced Medical Optics
Inc. has offered to buy larger eye-care company Bausch
& Lomb Inc. for $4.23 billion, topping a rival offer of
$3.67 billion from private equity firm Warburg Pincus ,
the two companies said on Thursday.




Advanced Medical's offer is valued at $75 a share, of which
$45 is in cash and $30 in stock, the companies said. That offer
compares with a $65 a share offer made by Warburg Pincus in
May. Bausch & Lomb's takeover agreement from Warburg Pincus
allowed it to solicit other bids for 50 days.


Read more at Reuters.com Bonds News

Top Democrat candidates back China currency bill

(Reuters) - The bill's sponsors include Senate Finance Committee Chairman Max Baucus, a Montana Democrat, and the ranking Republican, Iowa's Charles Grassley. It would force expedited action against nations seen as manipulating their currency, such as exclusion from some contracts and a fast track for new challenges at the World Trade Organization court.




While the proposed measures would apply to any country, the lawmakers have set their sights on China. Members of Congress say the Bush administration is doing too little to pressure Beijing to revalue the yuan, which some believe it undervalues by up to 40 percent to make its exports more competitive.


Read more at Reuters.com Bonds News

RPT-UPDATE 1-Braddock mortgage hedge fund to liquidate -CEO

(Reuters) - By Al Yoon




NEW YORK, July 5 - Braddock Financial Corp., a
top-performing hedge fund manager, on Thursday said it will
liquidate its $300 million Galena Street Fund after concerns of
its subprime mortgage exposure triggered investor redemptions.


Read more at Reuters.com Bonds News

Carlsberg says eyeing parts of Vin & Sprit - paper

(Reuters) - "We have talked to the ministry about
us being interested. This would be an exciting cooperation for
Carlsberg," Paul Bergqvist, chairman for Carlsberg's Swedish
operations, was quoted as saying by daily Dagens Industri.




"We already have cooperation with Vin & Sprit which we
could develop much more. That would be positive for the
competitive power of both ."


Read more at Reuters.com Mergers News

UPDATE 3-Hilton would pay $560 mln Blackstone break-up fee

(Reuters) - Blackstone, which agreed to buy Hilton for about $20
billion plus debt, would pay Hilton $660 million if it backs
out of the deal, Hilton said in a filing with the U.S.
Securities and Exchange Commission.




Break-up fees are customary in takeover deals and are put
in place to dissuade the two sides from walking away.


Read more at Reuters.com Government Filings News

New Zealand Dollar Falls From 22-Year High on Signs of Faster U.S. Growth

(Bloomberg) -- New Zealand's dollar fell from a 22
year high after U.S. economic reports unexpectedly showed
stronger growth in the world's biggest economy, boosting the
appeal of the U.S. dollar.

The currency, known as the kiwi, fell as much as 0.9
percent against the dollar on prospects the U.S. economy is
expanding enough to deter the Federal Reserve from cutting
interest rates this year. Growth in U.S. services industries
unexpectedly accelerated to the fastest pace in 14 months in
June, a government report showed yesterday.


Read more at Bloomberg Currencies News

UPDATE 1-US SEC's country watch list draws fire

(Reuters) - NEW YORK, July 5 - U.S. securities regulators
have stirred up a controversy with a new online tool that
allows investors to search for companies with ties to countries
the State Department has designated "state sponsors of
terrorism."




Both business and humanitarian groups say the list,
available on the U.S. Securities and Exchange Commission's Web
site, is ill-conceived. The tool provides links to companies
whose annual reports contain "some reference" to business
related to Sudan, Syria, North Korea, Iran and Cuba.


Read more at Reuters.com Government Filings News

Advanced Medical bids for Bausch&Lomb: WSJ

(Reuters) - Advanced Medical's offer is valued at $75 a share, of which
$45 is in cash and $30 in stock, according to the Wall Street
Journal report, which appeared on the Dow Jones newswire on
Thursday and cites people familiar with the situation.




The offer compares with the $65-per-share Warburg Pincus
offer, made in May.


Read more at Reuters.com Mergers News

Quest Diagnostics options, shrs up on buyout talk

(Reuters) - Acquisition activity among health-care service companies, particularly by private-equity groups, has been healthy for the past year. Earlier this week, Manor Care , a nursing home company, agreed to be bought for about $4.9 billion, excluding debt, by the Carlyle Group.



Speculation that Quest would be the target of a leveraged buyout is not new and surfaced earlier this year.


Read more at Reuters.com Bonds News

OPEC's Oil Production Rose by 5,000 Barrels a Day in June, Survey Shows

(Bloomberg) -- Crude-oil production in June by
members of the Organization of Petroleum Exporting Countries rose
5,000 barrels, a Bloomberg News survey showed.

Output averaged 30.02 million barrels a day, according to
the survey of oil companies, producers and analysts. The 10
members of OPEC with production quotas, all except Angola and
Iraq, increased shipments by 95,000 barrels to 26.51 million
barrels a day.


Read more at Bloomberg Energy News

Oil Rises to a 10-Month High on Nigerian Unrest, U.S. Refinery Shutdowns

(Bloomberg) -- Crude oil rose to a 10-month high, on
concern that unrest in Nigeria may curb oil shipments and
unexpected shutdowns at U.S. refineries will cut fuel production.

Nigerian gunmen kidnapped a three-year-old daughter of a
British expatriate on her way to school in the southern oil city
of Port Harcourt, a police spokesman said. Five contractors were
seized yesterday from a rig operated by Royal Dutch Shell Plc's
Nigerian venture. Futures pared gains after the Energy Department
reported that U.S. oil and fuel supplies rose last week.


Read more at Bloomberg Energy News

Airtran says second-quarter revenue likely fell

(Reuters) - In a government filing, the airline said its non-fuel costs
are expected to have fallen between 5.25 percent and 5.75
percent in the quarter.




Airtran, which has made a bid for rival Midwest Air Group
Inc. , said its load factors for the third quarter are
well ahead of the same period in 2006.


Read more at Reuters.com Mergers News

Chile Stocks Fall as Economy Slows, Led by Endesa; Brazil's Usiminas Slips

(Bloomberg) -- Chile's main stock index fell the most
in almost a month on concern that shares have risen faster than
warranted by the country's economic growth.

Chile's IPSA index of 40 stocks fell a second day, shedding
38.35, or 1.1 percent, the most since June 7, to 3453.11 at 1:17
p.m. New York time, after slipping 0.2 percent yesterday. Power
producer Empresa Nacional de Electricidad SA led the retreat.


Read more at Bloomberg Stocks News

Investors pare Treasury allocations in week-survey

(Reuters) - On Thursday, the benchmark 10-year Treasury yield
was 5.13 percent, up from 5.11 a week ago but down
from 5.14 percent two weeks earlier.




Stone & McCarthy's market sentiment measures showed that
professional investors have turned slightly less bullish on
bonds, the Princeton, New Jersey-based firm said.


Read more at Reuters.com Bonds News

S&P cuts Movie Gallery rating deeper into junk

(Reuters) - S&P cut Movie Gallery's corporate credit rating one notch
to "CCC-plus," seven levels below investment grade, from
"B-minus."




"Movie Gallery remains challenged by poor industry
fundamentals," S&P said in a statement.


Read more at Reuters.com Bonds News

Canadian housing prices continue to climb - report

(Reuters) - The number of transactions is seen rising by 8 percent to
522,306 units.




"The most profound story in Canadian real estate today is
the extraordinary interest that people across our country
continue to have in buying and selling homes," Phil Soper,
president and chief executive of Royal LePage, said in a
release.


Read more at Reuters.com Economic News

S.African stock market up on resource strength

(Reuters) - South Africa's stock market ended in the positive on Thursday, driven by strong performance of resources stocks such as BHP Billiton despite continued nervousness around interest rates.

"Generally the market is uncertain, interest rates is worrying investors particularly with the Bank of England raising interest rates," Tubby Goodwin, a trader from Investec Securities said.


Read more at Reuters Africa

US STOCKS-Wall Street slips as yields overshadow M&A

(Reuters) - NEW YORK, July 5 - U.S. stocks slipped on
Thursday as worries about rising bond yields overshadowed
strong economic data and news of a $20 billion buyout of Hilton
Hotels Corp.




Rising yields can lead to higher borrowing costs, which can
cut into corporate profits. The yield on the benchmark 10-year
Treasury note rose to 5.11 percent from 5.05
percent on Tuesday after stronger-than-expected data on the
jobs market.


Read more at Reuters.com Bonds News

CardioTech to sell unit to Medos Medizintechnik for $7.5 mln

(Reuters) - Wilmington, Massachusetts-based CardioTech said it expects
to gain about $6 million in cash from the sale, after estimated
transaction costs of $500,000 and an escrow funding.




The sale is expected to close on or about July 9,
CardioTech said.



Read more at Reuters.com Mergers News

Toyota, Ford post strong China vehicle sales

(Reuters) - Toyota Motor Corp. sold 212,000 vehicles during the period, up 77 percent from a year earlier, powered by brisk demand for its Camry sedans, the best-selling car in the United States in eight of the past nine years.




Toyota, the world's biggest car maker, rolled out its first China-made Camry in May 2006 from a new plant in the southern Chinese city of Guangzhou, to wrest customers away from competing models such as Honda Motor's Accord.


Read more at Reuters.com Business News

Egyptian shares rise despite cautious sentiment

(Reuters) - Egyptian shares continued a week-long rally as the CASE30 index recorded a new year closing high for a third consecutive day on Thursday, despite cautious investor sentiment, according to analysts.

Market performance during the day was relatively volatile as it headed down early in the session before reversing the trend before the market's close.


Read more at Reuters Africa

Colombia's Peso Weakens, Bonds Decline on U.S. Rates, June Employment Data

(Bloomberg) -- Colombia's peso weakened the most in
a week and local government bonds declined amid expectations
that pressure on U.S. interest rates from an expanding economy
will diminish demand for riskier, emerging-market assets.

Yields on U.S. Treasuries rose today after a report showed
U.S. companies added more jobs than expected in June.


Read more at Bloomberg Currencies News

American Airlines to book gain from ARINC sale

(Reuters) - The sale of its stake in ARINC, a provider of transportation communications and systems engineering, is expected to close by Oct. 31.



) Keywords: AMR ARINC/


Read more at Reuters.com Mergers News

UPDATE 2-US private sector adds 150,000 jobs in June-report

(Reuters) - Over the three months ending in June, estimated job growth
in the report has averaged about 103,000, said ADP Employer
Services, whose employment report was jointly developed with
Macroeconomic Advisers LLC.




The consensus estimate of 23 economists surveyed by Reuters
was for the ADP report to show 100,000 new private sector jobs
in June.


Read more at Reuters.com Economic News

TREASURIES-Bonds fall on lower European debt, ADP jobs data

(Reuters) - NEW YORK, July 5 - U.S. Treasury debt prices fell
on Thursday, following the lead of weaker euro zone debt and
after stronger-than-expected data on jobs gave a boost to
investor forecasts for Friday's non-farm payrolls report.




Euro zone debt fell on Thursday before an interest rate
decision by the European Central Bank, which, as expected left
rates on hold at 4 percent.


Read more at Reuters.com Bonds News

Rite Aid June same-store sales up 0.7 percent

(Reuters) - Pharmacy same-store sales rose 0.6 percent and same-store sales of general merchandise such as food, snacks and cosmetics rose 1.1 percent.



Total drugstore sales for the four weeks ended June 30 jumped 54.8 percent to $2.08 billion, aided by the June 4 acquisition of the U.S. Eckerd and Brooks chains from Canada's Jean Coutu Group Inc. . The Brooks and Eckerd stores were excluded from the same-store sales results.


Read more at Reuters.com Market News

UPDATE 1-U.S. mortgage applications little changed - MBA

(Reuters) - The Mortgage Bankers Association said its mortgage
applications index rose 0.1 percent to a seasonally adjusted
619.4 in the week ended June 29, nearing its lowest level since
mid-February.




The MBA's purchase index rose 2.0 percent to 437.3.


Read more at Reuters.com Bonds News

Barloworld to issue sub-divided stock to shareholders

(Reuters) - South African industrial group Barloworld will distribute 1.8555 PPC subdivided shares for every one ordinary share held by its shareholders, it said on Thursday.

The share subdivision follows plans by Barloworld to spin-off subsidiary Pretoria Portland Cement Company Ltd. (PPC), which the firms have previously said would be done by July 16, subject to regulatory approvals.


Read more at Reuters Africa

Lead hits new high as supply tightens

(Reuters) - Industrial metal lead hit a fresh high of more than $2,900 per tonne on Thursday, taking its gains since the start of the year to over 72 percent.

Other metals on the London Metal Exchange were steady, which supported mining shares on the London stock market.


Read more at Reuters Africa

Polish Unemployment Rate Fell to 12.4 Percent in June, Near Eight-Year Low

(Bloomberg) -- Poland's unemployment rate fell in
June to 12.4 percent from 13 percent in May, according to
preliminary estimates from the Labor Ministry.

The number of unemployed totaled 1.896 million, a near
eight-year low, the Warsaw-based ministry said today in an e-
mail. The rate remained the highest in the European Union,
according to national statistics figures.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Coca-Cola HBC agrees to buy Russia's Aquavision

(Reuters) - "The acquisition provides us with immediate access to state
of the art production facilities and significant expanded
capacity to meet growing consumer demand for our products,"
Doros Constantinou, CCHBC's chief executive, said in a
statement.




CCHBC will fund the purchase by a combination of cash and
short-term debt. It expects the deal to be earnings accretive in
2008, the company said.


Read more at Reuters.com Mergers News

GLOBAL MARKETS-Interest rate decisions focus investor minds

(Reuters) - European stocks fell, as did bond prices. The euro rose
against both the dollar and yen ahead of the ECB meeting, where
officials are expected to keep rates on hold at 4.0 percent
[ECB/INT].




Britain's pound bumped along near 26-year highs above $2.
The BoE is expected to raise rates 25 basis points to a six-year
high of 5.75 percent [BOE/INT].


Read more at Reuters.com Bonds News

Rubber Futures Rise in Tokyo on Concern Thailand Supply Slow to Pick Up

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, rose for a third day amid concern that supply in
Thailand is not picking up as fast as it should after the end of
the low production season.

Futures contracts also looked cheap compared with physical
rubber prices, which were underpinned by rain in Thailand, the
world's biggest producer, said Takaki Shigemoto, an analyst at
commodity broker Okachi & Co. in Tokyo, by phone today. Rubber
supply in Thailand typically increases after the low production
period known as wintering.


Read more at Bloomberg Commodities News

UPDATE 1-UK's Michael Page soars on record Q2 profit

(Reuters) - LONDON, July 5 - British recruitment firm Michael
Page International Plc reported record quarterly gross
profit on Thursday, 38 percent ahead of the year before, sending
its shares up almost 6 percent.




"There has been some negativity around about slowdowns but
all I can say is we have seen none of it," Chief Executive Steve
Ingham told journalists.


Read more at Reuters.com Market News

JGBs fall on Nikkei gains, euro zone bond weakness

(Reuters) - JGBs pulled further away from three-week highs hit earlier
in the week, with investors cautious about buying while 10-year
yields remain near the middle of the 1.85-1.95 percent range
that has held for the last few weeks.




"The market extended losses, probably led by declines in
futures, while domestic investors were seen selling on the
upside," said Takafumi Yamawaki, a fixed income strategist at
Morgan Stanley.


Read more at Reuters.com Bonds News

South Korea's Stocks Gain for a Fourth Day; Samsung Rises on DRAM Prices

(Bloomberg) -- South Korean stocks advanced for a
fourth day, led by Shinsegae Co., after local consumers became
the most confident in 15 months, adding to speculation increased
spending will extend the longest economic expansion in a decade.

Shares also gained after Woori Investment & Securities Co.
lifted its estimate for the Kospi index, citing faster earnings
growth and rising local demand for stocks. Samsung Electronics Co.
paced the climb.


Read more at Bloomberg Stocks News