Gold, Silver Prices Little Changed in Asia as Dollar Stabilizes Vs Euro

(Bloomberg) -- Gold was little changed in Asia
after falling for the first day in three yesterday as the
dollar's decline seemed to stall, reducing the precious metal's
appeal as an alternative investment. Silver was unchanged.

Gold generally moves in tandem with the euro, which fell
for the second day yesterday after reaching a record against the
dollar on July 13. Gold has gained 4.5 percent while the euro
has risen 4.4 percent against the dollar this year. Europe's
single currency traded at $1.3787 at 2:16 p.m. in Singapore
compared with an all-time high of $1.3814.


Read more at Bloomberg Commodities News

Dollar sluggish, nagged by subprime concerns

(Reuters) - The dollar hovered near a record low against the euro and its weakest in more than 20 years versus sterling and the New Zealand dollar on Tuesday as concern about the U.S. subprime market kept it under selling pressure.

The yen slipped, hitting a 16-year low against the Australian dollar as traders returning after a Japanese public holiday sold the low-yielding currency for assets in higher-yielding ones in what many in the market call the "carry" trade.


Read more at Reuters Africa

Tata Consultancy Predicts Operating Margin Improvement If Rupee Is Stable

(Bloomberg) -- Tata Consultancy Services Ltd.,
India's largest computer-services exporter, said it expects
operating margin to widen this financial year if the local
currency maintains its level.

``If the rupee is stable, we should be able to improve the
margin,'' Chief Executive Officer S. Ramadorai said in an
interview in Mumbai today, a day after the company announced its
first-quarter earnings. ``I think the rupee will be in the
region of 40 to 41 or so. The wages have been factored in. The
first quarter had the maximum impact in terms of wages.''


Read more at Bloomberg Emerging Markets News

TREASURIES-Slip in Asia after gains on subprime jitters

(Reuters) - "The flight-to-quality characteristics of the market are
fading from the subprime story," said a Treasuries trader at a
European bank in Tokyo. "The problem is a lot of people in the
market are long, so they are less sensitive to ABX."




Treasuries have also gotten a boost as signs of cooling price
pressures have prompted investors to think the Fed's next move on
policy may be to cut interest rates from the current 5.25 percent
later this year or in 2008.


Read more at Reuters.com Bonds News

Accor, PPR, Aeroports de Paris, Soitec, PPR, Vinci: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

The benchmark CAC 40 Index gained 7.64, or 0.1 percent, to
6125.60. The broader SBF 120 Index also climbed 0.1 percent.


Read more at Bloomberg Stocks News

UPDATE 1-HSBC interested in KEB, contacted Lone Star-paper

(Reuters) - Continuing legal proceedings over Lone Star's 2003 purchase of KEB, however, have delayed a deal.




Citing people close to the situation, the Daily Telegraph reported that HSBC's expression of interest was "extremely preliminary and contingent upon a resolution of ongoing criminal investigations into KEB's sale in 2003 to Lone Star."


Read more at Reuters.com Mergers News

PetroChina's Share Rating Is Raised by Deutsche on China Share Sale, Oil

(Bloomberg) -- PetroChina Co. had its stock rating
raised by Deutsche Bank AG because climbing oil prices and a
Shanghai listing by the nation's biggest oil company are likely
to prompt further gains in its shares.

The stock was upgraded to ``buy'' from ``hold'' and the
target price increased to HK$13.38 from HK$12.21, Deutsche Bank
analysts David Hurd and Christine Pu wrote in a research note.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Australia's Paladin says no approach from Cameco

(Reuters) - "The company can emphatically state that Cameco has not
approached Paladin in this regard and further that we are
unwawre of such activity," Paladin, which has a market
capitalisation of about A$5 billion , said in a
statement.




Paladin was responding to a story in the Australian
Financial Review newspaper which said Cameco may be preparing a
takeover bid for Paladin to boost its sources of supply.


Read more at Reuters.com Mergers News

Japan's Government Bonds Advance on Concerns Over U.S. Subprime Mortgages

(Bloomberg) -- Japan's 10-year bonds gained on
speculation losses in securities backed by U.S. subprime
mortgages will fuel demand for government debt.

Bonds in Japan halted a two-day drop after Treasuries
yesterday extended a weekly advance. Concerns that U.S. economic
growth will slow may hurt Japanese exporters, boosting the
attraction of debt's fixed payments. Shares of Japanese electric
power producers and insurance companies may drop after a
magnitude 6.8 earthquake struck northwest Japan yesterday,
damaging a nuclear reactor operated by Tokyo Electric Power Co.


Read more at Bloomberg Bonds News

Dollar stays weak, nagged by subprime concerns

(Reuters) - "We're seeing ongoing weakness in the dollar due to concerns about the subprime market," said Hideaki Inoue, forex manager at Mitsubishi UFJ Trust and Banking, as Tokyo traders returned from a market holiday on Monday.




"The market wants to see exactly what impact the recent problems in the subprime market will have on the rest of the economy."


Read more at Reuters.com Hot Stocks News

Crude Oil Trades Near 11-Month High on Signs U.S. Refinery Demand Rising

(Bloomberg) -- Crude oil was little changed in New
York after reaching an 11-month high yesterday on speculation
increased refinery demand may trim U.S. oil stockpiles.

An Energy Department report tomorrow will probably show
inventories fell a second week as refiners raised operating rates
to 90.4 percent last week, according to a Bloomberg News survey
of 15 analysts. Hedge-fund managers and other speculators last
week increased the number of bets on rising oil prices to the
highest in at least 13 years.


Read more at Bloomberg Energy News

UPDATE 1-RLPC Maxeda loan pulled, Boots LBO loan in balance

(Reuters) - Maxeda is Europe's first leveraged loan to be put on ice in
the current market correction and was withdrawn from
syndication after concessions failed to generate additional
momentum, arrangers ABN AMRO and Citibank told Reuters Loan
Pricing Corporation.




"We are assessing our options to see when we will take the
deal back to the market," an arranger said.


Read more at Reuters.com Bonds News

Rohm and Haas board OKs $2 bln buyback, stock up

(Reuters) - In an accelerated plan, the Philadelphia-based company will buy back $1 billion of its shares during the third quarter, funded by new debt. That plan will start after an existing $1 billion share repurchase program, authorized in December 2004, is completed.




Using cash, Rohm and Haas said it will repurchase the remaining $1 billion in shares from 2008 to 2010.


Read more at Reuters.com Hot Stocks News

Colombian Peso Strengthens Amid Renewed Appetite for High-Risk Securities

(Bloomberg) -- Colombia's peso gained to its
strongest in three weeks as renewed appetite for high-risk assets
boosted demand for the country's stocks and bonds.

``We continue to see appetite for risk that characterized
last week's close,'' said German Verdugo, chief analyst at
Bogota-based brokerage Correval SA. ``Today will likely see
little volatility in the market ahead of this week's U.S.
inflation report.''


Read more at Bloomberg Currencies News

UPDATE 1-Stanley Furniture posts loss, cuts outlook

(Reuters) - The furniture maker expects no significant improvement in
demand this year amid an industrywide sales slump.




The second-quarter loss came to $2.4 million, or 23 cents a
share, compared with earnings of $3.9 million, or 32 cents a
share, a year earlier. The charge, which came to $4.5 million
after taxes, was tied to the termination of a defined benefit
pension plan.


Read more at Reuters.com Market News

NovaStar gets $150 mln equity infusion

(Reuters) - Chief Executive Scott Hartman said the announcement
concludes NovaStar's review of strategic alternatives.
To view additional stories about the subprime lending crisis,
click on [ID:nN16195443]





Read more at Reuters.com Bonds News

US STOCKS-Subprime worries hurt broad market, but Dow rises

(Reuters) - NEW YORK, July 16 - The broader U.S. stock market
fell on Monday on worries that troubles in the subprime
mortgage market may spread, but optimism about earnings at
multinational companies pushed the Dow to nearly 14,000.




Energy stocks fell, led by ConocoPhillips , because
of concern about dwindling profit margins for gasoline. In
addition, natural gas prices declined due to forecasts for
below-normal summer temperatures, hurting utility stocks.


Read more at Reuters.com Bonds News

Nymex Gasoline Futures Fall Most Since October on Expected Supply Growth

(Bloomberg) -- Gasoline futures fell 4.4 percent,
the biggest drop in more than eight months, on forecasts a
government report this week will show a rise in U.S.
inventories.

Supplies probably rose 1 million barrels last week,
according to the median of 15 analyst estimates in a Bloomberg
News survey. The Energy Department report is due July 18.
Gasoline futures have declined 10 percent since July 10.


Read more at Bloomberg Energy News

IBM seen making more acquisitions after DataMirror

(Reuters) - So far this year, the world's largest technology-services
company has announced about $1 billion of acquisitions.




That leaves room for another $4 billion or so of purchases
if International Business Machines Corp. is to meet its stated
2007 goal of keeping up last year's "accelerated pace of
acquisitions."


Read more at Reuters.com Mergers News

Copper Falls as Global Inventories Increase for First Time in Three Weeks

(Bloomberg) -- Copper fell to the lowest in eight
sessions in New York as global inventories of the metal rose for
the first time in three weeks.

Stockpiles in warehouses monitored by the London Metal
Exchange gained 1,325 metric tons, or 1.4 percent, to 98,875
tons, the first increase since June 25. Before today, copper had
increased 25 percent this year as inventories plunged 47 percent.


Read more at Bloomberg Commodities News

UPDATE 1-PreMD shares soar on AstraZeneca deal

(Reuters) - PreMD shares were up 77 Canadian cents, or 67 percent, at
C$1.92 at midafternoon on the Toronto Stock Exchange.




The deal gives AstraZeneca the exclusive right to market
and distribute Prevu, a skin cholesterol test to help assess an
individual's risk of coronary heart disease, in the United
States.


Read more at Reuters.com Government Filings News

Rosneft Cancels Sale of Dollar-Denominated Bonds, Bankers Organizing Say

(Bloomberg) -- OAO Rosneft, Russia's biggest oil
producer, canceled its plan to sell dollar-denominated bonds,
according to bankers organizing the offering who asked not to be
identified because the decision hasn't been publicly disclosed.

Moscow-based Rosneft had hired ABN Amro Holding NV,
Barclays Capital, Citigroup Inc. and Morgan Stanley to arrange
the sale, according to an e-mailed statement sent by Morgan
Stanley on July 4. BNP Paribas SA, Calyon, JPMorgan Chase & Co.
and Goldman Sachs Group Inc. were also organizing the sale.


Read more at Bloomberg Bonds News

North American Energy raises offering to 15.1 mln shares

(Reuters) - Earlier, the company had offered to sell about 2.50 million
shares while selling shareholders had offered about 12.3
million shares.




The company expects to raise about $47.2 million and will
use the proceeds to repay debt and for working capital and
other general corporate purposes, it said in a filing with the
U.S. Securities and Exchange Commission.


Read more at Reuters.com Government Filings News

Colombian Peso Rises Amid Renewed Appetite for High-Risk Assets

(Bloomberg) -- Colombia's peso gained as renewed
appetite for high-risk assets boosted demand for the country's
stocks and bonds.

``We continue to see appetite for risk that characterized
last week's close,'' said German Verdugo, chief analyst at
Bogota-based brokerage Correval SA. ``Today will likely see
little volatility in the market ahead of this week's U.S.
inflation report.''


Read more at Bloomberg Currencies News

Canada Stocks Fall, Led by Cameco, on Uranium Price Concerns; Encana Slips

(Bloomberg) -- Canadian stocks fell, led by Cameco
Corp., on concern that shares of uranium producers are overpriced.
Natural gas future in New York had the steepest drop in almost a
month, pushing energy shares lower.

Cameco, the world's largest uranium producer, dropped after
investors sold short a record number of the company's shares in
June. EnCana Corp., Canada's largest natural-gas producer, fell for
first time in four days.


Read more at Bloomberg Stocks News

US STOCKS-Indexes extend gains on earnings optimism

(Reuters) - NEW YORK, July 16 - U.S. stocks rose on Monday,
with the Dow flirting with 14,000, on optimism about earnings
of major industrial companies and speculation that Verizon
Communications could be a takeover target.




Shares of Verizon were the biggest percentage gainer on the
Dow after a Financial Times blog said Vodafone Group
was considering a $160 billion takeover bid for the U.S.
wireless operator. Vodafone denied the report, but Verizon
shares rose 2.6 percent to $42.84.


Read more at Reuters.com Bonds News

SABMiller to issue $230 mln bond in S.Africa

(Reuters) - Brewer SABMiller plans to issue a 5-year, 1.6 billion rand bond to repay part of existing loans used to fund its South African business, the company said on Monday.

SABMiller said in a statement the notes were issued under a 4 billion rand domestic medium-term note programme and would be listed on the South African Bond Exchange BESA. The notes will be issued in one tranche with a coupon of 9.935 percent.


Read more at Reuters Africa

Ford to invest 675 mln euros in Romania carmaker

(Reuters) - "If the Ford bid is successful, the company would commit to investing 675 million euros in the site to upgrade and modernize the plant in line with global Ford Motor Company standards," Ford said in a statement.




Ford's strategy for the Craiova-based plant was discussed on Monday at meetings between Romania Prime Minister Calin Tariceanu and Ford of Europe President and CEO John Fleming.


Read more at Reuters.com Mergers News

U.K. Pound Rises to 26-Year High Versus Dollar on Outlook for BOE Rates

(Bloomberg) -- The pound rose to a 26-year high
against the dollar on speculation the Bank of England will keep
raising interest rates while the Federal Reserve stays on hold.

The U.K.'s currency gained for a second day before a
government report tomorrow that's forecast to show that
inflation has exceeded the BOE's 2 percent target for 14 months.
The pound last week had its biggest gain in three weeks against
the dollar on speculation a slump in the U.S. subprime mortgage
market will curb growth in the world's biggest economy.


Read more at Bloomberg Currencies News

Canadian Stocks Fall as Gas and Copper Prices Slip; Encana, Cameco Slide

(Bloomberg) -- Canadian stocks fell after natural gas
and copper prices dropped, pushing the shares of energy and raw
material producers lower.

EnCana Corp., Canada's largest natural-gas producer, dropped
1.4 percent to C$66.34, the first decline in four days. Canadian
Natural Resources Ltd., Canada's second-largest gas producer, fell
1.5 percent to C$73.05.


Read more at Bloomberg Stocks News

Nymex Gas Plunges as Mild Weather to Reduce Demand From U.S. Power Plants

(Bloomberg) -- Natural gas futures slumped in New
York on forecasts for below-normal temperatures for the Midwest
and Northeast later this week, reducing demand for electricity to
run air conditioners.

``It's Mother Nature's market,'' said Eric Wittenauer, an
energy analyst at A.G. Edwards & Sons Inc. in St. Louis. ``It's a
temperature-sensitive market that isn't finding any underlying
support.''


Read more at Bloomberg Energy News

European Bank Stocks Advance, Led By ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc climbed after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

Mosaid to sell semiconductor IP assets to Synopsys

(Reuters) - The deal is expected to close in August 2007, with the
payment subject to a $2 million holdback for one year, the
company said in a statement.





Read more at Reuters.com Mergers News

RPT-PREVIEW-Bernanke to stress price worries before Congress

(Reuters) - * When: July 18, 10 a.m. EDT before House panel




July 19, 9:30 a.m. EDT before Senate
panel


Read more at Reuters.com Bonds News

UPDATE 1-Canada May factory shipments slip on C$, metals

(Reuters) - Analysts surveyed by Reuters had forecast, on average, a
gain of 0.5 percent in the month. Shipments declined in April
by 0.7 percent, according to Statscan, which revised the figure
from the 0.6 percent decline it reported last month.




However, the volume of shipments rose 0.4 percent in
constant dollars to their highest since the beginning of 2006.


Read more at Reuters.com Economic News

UPDATE 1-N.Y. Fed manufacturing index climbs in July

(Reuters) - The New York Fed's "Empire State" general business
conditions index rose for the fourth consecutive month to 26.46
in July, the highest since June 2006, from 25.75 in June.




Economists polled by Reuters had expected a June reading of
18.00.


Read more at Reuters.com Bonds News

UPDATE 2-MOL spurns OMV, says it can create value alone

(Reuters) - BUDAPEST, July 16 - Hungarian oil firm MOL
spurned what it said was a hostile approach from
Austrian rival OMV and on Monday presented new
financial targets which it said proved it was on track for
growth.




MOL said its core profit will rise by a compounded annual
6.5 percent through 2011 even without acquisitions and the firm
will return more money to shareholders by sharply raising its
dividend payment and buying back shares.


Read more at Reuters.com Mergers News

UPDATE 2-Mattel posts higher quarterly profit

(Reuters) - Net income rose to $43.1 million, or 11 cents a share
beating average analyst expectations of 10 cents a share.




Quarterly sales rose 6.5 percent to $1.02 billion from
$957.7 million a year ago, led by an 18 percent increase in
international markets sales as sales declined 3 percent in the
U.S.


Read more at Reuters.com Market News

German Stocks Including Deutsche Bank Advance; Siemens Shares Retreat

(Bloomberg) -- German stocks including Deutsche Bank
AG, Allianz SE and Bayer AG rose. Volkswagen AG climbed after the
carmaker said it expects to boost sales in China. Siemens AG
paced falling shares.

The DAX added 5.25, or less than 0.1 percent, to 8098.02 at
1:07 p.m. in Frankfurt. DAX futures expiring in September were
little changed at 8155. The HDAX Index of the country's 110
biggest companies gained less than 0.1 percent.


Read more at Bloomberg Stocks News

Con-way to buy truckload carrier for $750 mln

(Reuters) - Con-way intends to fund the acquisition, expected to close
in the third quarter, with existing cash resources and proceeds
from debt financing, it added.





Read more at Reuters.com Mergers News

Stocks set for steady open, earnings in focus

(Reuters) - London Brent hit a fresh 11-month high of $78.12 -- just 53 cents away a record high of $78.65 last August.




By 0955 GMT, Dow futures were up 0.05 percent and both S&P and Nasdaq futures ticked up 0.1 percent.


Read more at Reuters.com Business News

Renewable Energy Group files for $150 mln IPO

(Reuters) - The filing did not reveal how many shares the company
planned to sell or the expected price.




The company plans to apply for listing on The New York
Stock Exchange under the symbol "RWE."



Read more at Reuters.com Government Filings News

Platinum Rises as Lonmin Delay Erodes Surplus; Palladium Price Advances

(Bloomberg) -- Platinum rose in London after Lonmin
Plc, the world's third-biggest platinum company, said it would
delay sales of some of its metal at a time when global supply was
barely keeping pace with demand.

The sale of between 70,000 and 90,000 ounces of platinum
from inventories will be postponed until after September, London-
based Lonmin said in a statement today. The sales were expected
to help platinum supplies exceed demand in the second half of
2007 from a deficit in the first half, London-based platinum
marketer Johnson Matthey Plc said in May.


Read more at Bloomberg Commodities News

EU Carbon Emission Permits Fall Near Two-Month Low As Allocations Raised

(Bloomberg) -- European Union carbon dioxide permits
for 2008 fell near a two-month low after the European Commission
raised the allocation of emission allowances for Ireland and
Latvia in the five years through 2012, increasing supply.

The July 13 increase boosts the total number of permits
allocated by 1.08 million tons of carbon dioxide a year. Permits
for December 2008 fell 19 cents, or 1 percent, to 19.70 euros
($27.12) a ton at 10:19 a.m. local time on the European Climate
Exchange in Amsterdam.


Read more at Bloomberg Energy News

U.K. Natural Gas Rises as Flow Cut at Shell's Bacton Terminal Cuts Supply

(Bloomberg) -- U.K. natural gas for delivery today
rose to the highest since Jan. 2 after flows of the fuel to a
terminal operated by Royal Dutch Shell Plc halted, cutting
supplies that were already reduced by repairs and maintenance.

Gas for delivery today rose 6.8 percent to 34 pence a therm
from a last day-ahead price on July 13 of 31.85 pence a them.
Today's price is equivalent to $6.92 a million British thermal
units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

UPDATE 1-India's Reliance Comm buys Yipes for $300 million

(Reuters) - Yipes, a provider of managed ethernet and application
delivery services, offered Reliance an opportunity to tap a
fast-growing market, Chairman Anil Ambani told a news
conference.




"Yipes will accelerate Reliance's entry into the $90
billion global market for enterprise and institutional data
services," he said after announcing the all-cash deal.


Read more at Reuters.com Mergers News

Network Rail, Ceva, CRH, Arcelor Plan to Sell Debt: European Bond Alert

(Bloomberg) -- CRH PLC, the world's second-biggest
building materials supplier, is among borrowers seeking to raise
the equivalent of at least 3 billion euros ($4.1 billion) in bond
sales in euros and pounds, according to data compiled by
Bloomberg.

Companies have sold the equivalent of $1,037 billion of
bonds denominated in euros and pounds so far this year, up from
$836 billion in the same period last year.


Read more at Bloomberg Bonds News

FEATURE-European traders brace for man vs machines war

(Reuters) - Complex algorithmic computer systems -- designed to monitor
thousands of stocks and independently identify and execute
orders in milliseconds -- are revolutionising Wall Street and
demand is quickly catching up across the Atlantic.




"We're looking to take humans out of the equation where it
makes sense," said John Lowrey, European head of execution
services at Lehman Brothers, striding past hundreds of dealers
glued to their screens on the bank's vast London trading floor.


Read more at Reuters.com Government Filings News