European Stocks Drop, Paced by BMW, Philips, Hypo Real Estate, Depfa

(Bloomberg) -- European stocks fell after reports in
the U.S. showed employers added fewer jobs than forecast last
month and growth in U.S. service industries slowed, reigniting
concern the world's biggest economy is cooling.

Bayerische Motoren Werke AG and Royal Philips Electronics NV
paced declines among companies that rely on sales in the U.S. The
Dow Jones Europe Stoxx Oil & Gas Index dropped to the lowest in
three months, led by Total SA and BP Plc after Citigroup Inc.
reduced its recommendation for the oil industry. Hypo Real Estate
Holding AG, the mortgage bank spun off from HVB Group, and Depfa
Bank Plc led financial shares lower.


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Granite Construction quarterly profit rises

(Reuters) - Total revenue fell 5.1 percent to $770.9 million.




Analysts were expecting earnings of 71 cents a share,
before items, on revenue of $772.8 million, according to
Reuters Estimates.



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UPDATE 1-Western Union second-quarter earnings fall

(Reuters) - NEW YORK, July 24 - Western Union Co. , the world's largest payment transfer company, said on Tuesday second-quarter profit declined as the company faced higher expenses after its spin-off and revenue from domestic consumer money transfers fell.



Total revenue rose 8 percent as international money transfer revenue increased.


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Crude Oil Falls From 11-Month High in New York as U.S. Refinery Units Open

(Bloomberg) -- Crude oil fell from an 11-month high
in New York on speculation that U.S. fuel stockpiles will
increase because refineries are opening units.

Exxon Mobil Corp., BP Plc and Valero Energy Corp. started
units at refineries in Texas over the past week. Prices rose
this week after the Energy Department reported that U.S. fuel
stockpiles declined last week as gasoline demand rose. Total SA
said it restored normal output from an oil field in Angola after
cutting production to make repairs.


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Crude Oil Rises to 11-Month High on Report of Reduced Exports From Angola

(Bloomberg) -- Crude oil rose to $76 a barrel in
New York, the highest in more than 11 months, after Total SA
said it would curb exports from the Dalia field in Angola
because of a mechanical failure.

Total declared force majeure, a legal clause meaning
deliveries are suspended because of conditions beyond the
company's control, after production at the 240,000-barrel-a-day
field was cut by 50 percent. Prices also rose because a
government report yesterday showed that U.S. gasoline supplies
declined last week.


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UPDATE 1-U.S. June industrial production up 0.5 pct

(Reuters) - WASHINGTON, July 17 - U.S. industrial output rose
by a slightly more-than-expected 0.5 percent in June as
production for automobiles surged 2.5 percent during the month,
a Federal Reserve report on Tuesday showed.




Analysts polled by Reuters were expecting to see a 0.4
percent rise in June. Total output at the nation's factories,
mines and utilities fell by a revised 0.1 percent in May
compared with a flat reading initially.


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Total sees Shtokman investment at $4-5 bln -report

(Reuters) - Under the deal, Total will receive a 25 percent stake in the
company that will build and own the pipes rigs and other
infrastructure for the first phase of development of the
Shtokman field.




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UPDATE 1-Family Dollar June same-store sales rise 1.5 pct

(Reuters) - Analysts, on average, had expected a same-store sales
increase of 1.9 percent, according to a Reuters survey. The
company had forecast a rise of 1 percent to 3 percent.




Total sales for the five weeks ended July 7 rose 4.6
percent to $645.8 million.


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REFILE-Chico's June same-store sales fall 7.3 pct

(Reuters) - Total sales for the operator of the Chico's and White
House/Black Market chains increased 4.4 percent to $159.6
million for the five-week period ended July 7.





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European Shares Climb for Second Week, Paced by Commodities; Accor Rises

(Bloomberg) -- European stocks rose for a second
week after a rally in commodity prices sent indexes of mining
and oil companies to records. Antofagasta Plc and Total SA paced
the advance.

Accor SA, Europe's largest hotel chain, led travel and
leisure shares higher after Hilton Hotels Corp. agreed to be
bought for $20 billion. Phone companies and utilities limited
gains in the region on concern central banks will continue to
lift interest rates.


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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.


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Total Plans to Invest $409 Million to Expand U.K.'s Lindsey Oil Refinery

(Bloomberg) -- Total SA, Europe's largest oil
refiner, said it would spend 300 million euros ($409 million) on
equipment to boost diesel output at its Lindsey refinery, the
company's largest in the U.K.

Total will add a hydro-desulphurization unit and a steam
methane reformer unit at the refinery in Lincolnshire, the
Paris-based company said in an e-mailed statement. The equipment
will be commissioned in 2009 and increase the plant's output of
so-called ultra-low-sulfur diesel while processing cheaper
grades of crude, Total said.


Read more at Bloomberg Energy News

UPDATE 1-Walgreen June same-store sales rise 5.1 percent

(Reuters) - Pharmacy sales were pressured by the introduction of
cheaper generic drugs and a calendar shift, Walgreen said.




Total sales rose 9.5 percent to $4.38 billion.


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European Stocks Advance in Quarter; Total, Linde, Swatch Pace the Gains

(Bloomberg) -- European stocks headed for a fourth
consecutive quarterly advance on speculation companies will keep
increasing profit and takeovers will lift shares.

Linde Group and BASF AG led chemical makers higher on
expectations they may merge. Swatch Group AG rallied after
Deutsche Bank AG recommended buying shares in the watchmaker
because revenue and profit margins may increase. Total SA and
Royal Dutch Shell Plc as oil climbed to a 10-month high.


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Total Says Rosa Deepwater Oil Field Off Angola Began Production on June 18

(Bloomberg) -- Total SA, Europe's third-largest oil
company, said production started June 18 at its Rosa deepwater
oilfield off the coast of Angola.

Total said the Rosa field, which has proven and probable
reserves of 370 million barrels, will maintain the production
plateau of the Girassol platform at 250,000 barrels a day ``until
early in the next decade,'' the Paris-based company said today in
an e-mailed statement.


Read more at Bloomberg Energy News

European Stocks May Drop for Fifth Day; Total, BHP, Northern Rock May Fall

(Bloomberg) -- European stocks may fall for a fifth
day, paced by energy and basic-resources shares as crude oil
traded near a nine-day low and metals prices dropped.

U.S.-traded securities of Total SA and Eni SpA declined. BHP
Billiton Ltd. and Rio Tinto Group retreated in Australian
trading. Northern Rock Plc, the U.K.'s seventh-largest bank, may
fall after saying it sees 2007 profit growth missing analysts'
estimates as interest rates rose more than expected.


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UPDATE 2-India's ONGC Q4 net falls 13 pct, lags f'cast

(Reuters) - NEW DELHI, June 25 - India's state-run Oil and
Natural Gas Corp. Ltd. said its fourth-quarter
net profit fell 13 percent, lagging forecasts, due to higher
mandatory discounts to refiners and one-off staff costs.




ONGC, India's second most valuable listed company with a
market cap of $48 billion, also said it was in talks with oil
majors Chevron , Total and Royal Dutch Shell
to swap stakes in oil blocks and planned to spend $10.3
billion in acquiring and developing overseas assets by 2012.


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Canadian Stocks May Rise on Takeover Speculation; Western Oil May Advance

(Bloomberg) -- Canadian stocks may rise on speculation
there will be more takeovers of the country's commodity producers,
following a report that France's Total SA may bid for Western Oil
Sands Inc.

Global demand for energy and metals has helped some
commodities rise to record prices, while historically low borrowing
costs have fueled a takeover boom. That has helped the Canadian
stock index, of which almost half is commodity-related, rise to a
record this month. Gains in commodity stocks may be limited today
as crude oil fell from near a nine-month high in New York and
copper snapped two days of gains in London.


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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

European Stocks May Drop on Bond Yields; BP, Rio Tinto May Decline

(Bloomberg) -- European stocks may decline for a
fifth day, the longest rout in three months, after rising bond
yields weighed on equities in the U.S. and Asia.

BP Plc and Total SA may fall after crude oil dropped from a
nine-month high. Rio Tinto Group may lead mining shares lower
after copper slid in Asia. BNP Paribas SA may pace advancing
shares after Les Echos reported Societe Generale SA is studying a
possible bid for its larger banking rival.


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