Japan's Stocks Drop After Machinery Orders Unexpectedly Fall, Led by Sony

(Bloomberg) -- Japanese stocks dropped after machinery orders unexpectedly fell 4.5 percent in March, indicating companies are not optimistic about growth prospects.

Shares of companies most sensitive to changes in the economy that have outperformed the Topix index, led declines. Sony Corp., the world's second-largest consumer electronics maker, which had climbed 28 percent so far this year, slumped the most in two months.


Read more at Bloomberg Stocks News

European Two-Year Yields Trade Near Five-Year High Before Growth Figures

(Bloomberg) -- European two-year government bond yields traded near the highest in almost five years before a report on economic growth in the euro region.

The extra yield investors earn on 10-year U.S. Treasuries over similar maturity German bunds today shrank to the least since 2004 as growth in Europe is set to outpace U.S. expansion. European interest-rate futures suggest investors are increasing bets the ECB will raise rates twice more this year.


Read more at Bloomberg Bonds News

Philippine Peso, World's Biggest Mover, Rises as Filipinos Send Funds Home

(Bloomberg) -- The Philippine peso rose to a six-year high, the biggest fluctuation of any currency today, on speculation Filipinos working overseas are sending more money home this month to pay education fees. Government bonds fell.

Remittances have exceeded $1 billion for 10 months, helping support the currency as the funds are converted out of dollars into pesos. A ``relatively peaceful'' election to select members to the Senate and Congress also helped support sentiment, said Roland Avante, treasurer at Chinatrust (Philippines) Commercial Bank in Manila.


Read more at Bloomberg Currencies News

Consumer Prices in U.S. Probably Rose in April on Gasoline, Food Costs

(Bloomberg) -- Prices paid by U.S. consumers rose in March for the fifth straight month, driven by food and near- record gasoline costs, economists said before a government report today.

Prices rose 0.5 percent after a 0.6 percent March increase, according to the median forecast of economists surveyed by Bloomberg News ahead of the Labor Department's report. Core prices, which exclude food and energy, rose 0.2 percent after a 0.1 percent gain, the survey showed.


Read more at Bloomberg Currencies News

Rand slightly firmer on wobbly dollar

(Reuters) - South Africa's rand was slightly stronger versus the dollar on Monday and traders said it would likely maintain its firmer tone on the back of renewed dollar weakness.

The rand was trading at 6.9215 against the dollar at 0640 GMT, 0.25 percent stronger than its previous New York close of 6.9425.


Read more at Reuters Africa

Barloworld's profits rise, upbeat on new strategy

(Reuters) - South African industrial group Barloworld posted a 14 percent jump in first-half headline earnings, helped by strong growth in its earthmoving business, and gave a rosy outlook following a major shift in strategy.

Barloworld, which represents leading international brands such as Caterpiller earth-moving machines and Avis car hire, is the world's largest independent lift truck dealer. The company has decided to focus on its equipment, motor, materials handling and logistics divisions and is selling other units to achieve this goal.


Read more at Reuters Africa

Aquarius Platinum workers due back on job Monday

(Reuters) - Striking workers at two South African mines owned by Aquarius Platinum are due to return to work on Monday night, the firm said.

"The union and (contractor) MRC have reached an agreement and workers will go back to work tonight," spokeswoman Marion Brower told Reuters.


Read more at Reuters Africa