South African Stocks Advance, Led Higher by Impala Platinum and MTN Group

(Bloomberg) -- South African shares rose for a
fourth day, led by Impala Platinum Holdings Ltd. as the price of
the precious metal climbed the most in more than two weeks.

MTN Group Ltd., Africa's biggest publicly trade mobile phone
company, also gained.


Read more at Bloomberg Emerging Markets News

Israel blocks shipments bound for Gaza: letter

(Reuters) - Israel wants to isolate Hamas Islamists -- economically, diplomatically and militarily -- in the Gaza Strip, while allowing funds and trade to flow to the Western-backed emergency government set up in the occupied West Bank by Palestinian President Mahmoud Abbas.




"Given recent developments in the Gaza Strip and the closure of crossings between it and Israel, I hereby inform you that no cargo destined for the strip is to be released until further notice," an Israeli Finance Ministry official in charge of customs told international customs agents in the June 17 letter.


Read more at Reuters.com Bonds News

Miner Metorex says in talks, shares jump

(Reuters) - South African junior mining firm Metorex Ltd said on Monday it was in talks, sending its shares surging.

Metorex said in a statement to the stock exchange it had entered into talks that may have an effect on its share price, giving no further details.


Read more at Reuters Africa

U.K. Pound Gains Before Bank of England Minutes Back Case for Higher Rates

(Bloomberg) -- The pound rose to the highest in more
than a week against the dollar on speculation the minutes of the
Bank of England's last meeting will reinforce the case for higher
interest rates.

Since the June 7 meeting, Governor Mervyn King and policy
maker Paul Tucker have again expressed concern about inflation,
underpinning expectations of an increase in borrowing costs. The
BOE will release the minutes on June 20. The pound also gained as
accelerating house prices added to the case for higher rates.


Read more at Bloomberg Currencies News

Cadence Design buyout talks stall over price-NYT

(Reuters) - At $6.5 billion, Cadence may be too expensive for the firms,
the Times said. The Times first reported interest in Cadence on
June 4.




Neither Blackstone, KKR nor Cadence immediately returned
calls seeking comment.


Read more at Reuters.com Mergers News

European shares mixed in early trade; ICI sparkles

(Reuters) - European shares were mixed early on Monday as acquisition talk spurred gains in British chemicals group ICI but French stocks underperformed after President Nicolas Sarkozy failed to win a forecast landslide in parliamentary polls.

At 0718 GMT, the FTSEurofirst 300 index of top European shares was up 0.03 percent at 1,626.38 points, after rising 3.7 percent last week.


Read more at Reuters Africa

Rand holds firm vs dollar

(Reuters) - South Africa's rand stayed on firm ground against the dollar in quiet Monday trade, and should take direction during the session from overseas market trends, traders said.

At 0640 GMT the domestic currency was trading at 7.1060 per dollar, 0.2 percent stronger than its New York close of 7.1225 on Friday and pulling back from an earlier slip to 7.14/dollar.


Read more at Reuters Africa