Renault CEO: No hint of French move to sell stake

(Reuters) - "Renault shares have been booming lately," he told reporters after partner Nissan Motor Co.'s annual shareholders meeting in Japan. He attributed the historic highs reached this month to investor confidence in Renault's financial performance.



"Obviously, the more the shares go up, the more people start to speculate that maybe the French state is moving to sell ," he said.


Read more at Reuters.com Mergers News

Emission Permits Are Steady Near One-Month Low After Germany Proposes Sale

(Bloomberg) -- European Union emission permits were
little changed near their lowest in a month as Germany proposed to
hold sales of allowances, potentially earlier than expected.

Permits for delivery in December 2008 rose 21 cents, or 1
percent, to 21.40 euros ($29) a metric ton, according to the
European Climate Exchange in Amsterdam at 10:45 a.m. It reached as
low as 20.60 euros yesterday, the lowest price for the benchmark
permits since May 15.


Read more at Bloomberg Energy News

Taiwanese Government Bonds Climb as Intervention Stopped; Currency Rises

(Bloomberg) -- Taiwan's 10-year government bonds
climbed, pushing the yield to a two-week low, on speculation the
central bank stopped buying its own currency, leaving banks with
more spare cash to buy debt. The Taiwanese dollar rose the most
in almost six months.

The interest rate for overnight loans between lenders was
set for the lowest close in more than two weeks after the
central bank refrained from buying the local dollar in the
foreign-exchange market this month, said Ernest Lee, a Taipei-
based bond trader at Mega Securities Co. Lower money-market
rates make it cheaper for investors to borrow for bond purchases.


Read more at Bloomberg Bonds News

U.S. Treasury Yields Trade Near Lowest in Two Weeks on Housing Slowdown

(Bloomberg) -- U.S. 10-year Treasury yields traded
near a two-week low on expectations a housing slowdown will keep
the Federal Reserve from raising interest rates.

The benchmark notes headed for a fourth day of gains, the
longest advance since February, before a private report on home-
loan applications due today. Bonds rose yesterday, pushing 10-
year yields down 5 basis points, after the Commerce Department
said house construction declined for the first time in four
months in May because of higher mortgage costs.


Read more at Bloomberg Bonds News

Coles Bond Risk Set to Rise to Record on Wesfarmers Takeover, Lehman Says

(Bloomberg) -- The perceived risk of owning the
bonds of Coles Group Ltd., Australia's second-biggest retailer,
could rise to a record if a takeover led by Wesfarmers Ltd.
increases debt and pushes its credit rating below investment
grade, according to Lehman Brothers Holdings Inc.

Wesfarmers, Australia's biggest home improvement retailer,
is seeking to raise about A$12 billion ($10.2 billion) to fund an
offer for Coles, two people with direct knowledge of the matter
said last week.


Read more at Bloomberg Bonds News

Lead Futures Increase to Record $2,435 a Ton on London Metal Exchange

(Bloomberg) -- Lead rose to a record on the London
Metal Exchange.

Lead for delivery in three months on the LME gained $35, or
1.5 percent, to $2,435 a metric ton as of 8:34 a.m. local time,
beating the previous record set on June 18 by $5.


Read more at Bloomberg Commodities News

Rand a little weaker, tracks emerging markets

(Reuters) - South Africa's rand weakened slightly versus the dollar on Wednesday and traders expected the local unit to continue tracking other emerging markets.

The rand was trading at 7.0820 to the dollar at 0635 GMT, 0.17 percent off its New York close of 7.07 on Tuesday.


Read more at Reuters Africa