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.


Read more at Bloomberg Stocks News

UMC says May sales fall 3.3 pct from year ago

(Reuters) - Sales at United Microelectronics Corp. last month, down from T$8.504 billion a year ago, the company said on its Web site on Friday.



UMC's sales were T$8.131 billion in April this year.


Read more at Reuters.com Market News

SocGen mulling merger with BNP, bid possible-paper

(Reuters) - The newspaper said both a friendly deal and hostile bid were being examined but that Societe Generale's management was divided over the idea.



A Societe Generale spokeswoman could not immediately be reached for comment.


Read more at Reuters.com Mergers News

Copper Prices Fall on Concern China's Imports Slowing, Demand Weakening

(Bloomberg) -- Copper prices fell for a third day in
Shanghai on concern that buying by China, the world's biggest
consumer of the metal, may have plunged last month, signaling
weakening demand.

China's customs office is scheduled to issue import data for
May next week. Imports probably fell by at least 48 percent to
100,000 metric tons, compared with April's near-record levels,
after inventories increased and prices soared, traders and
analysts, including Xue Feng at Maike Futures Co., said June 6.


Read more at Bloomberg Commodities News

Barclays Capital Says 10-Year Treasury Yield Will Rise to 5.4% by Year-End

(Bloomberg) -- The yield on 10-year U.S. Treasuries
may rise to a five-year high of 5.4 percent by year-end as
unemployment falls and the Federal Reserve raises interest rates,
according to Barclays Capital Plc.

The Fed may increase its target rate for the overnight
lending rate between banks by a quarter of a percentage point in
both the third and fourth quarters of this year, and again in
the second quarter of 2008, U.K.-based Barclays said. That will
push up the yield on the benchmark 10-year note to the highest
since April 2002 and the two-year note to 5.42 percent, the most
since December 2000, the bank said.


Read more at Bloomberg Bonds News

Qualcomm says current quarter better than expected

(Reuters) - Keitel said that while the quarter was not yet over, firm orders and reports from licensees were very strong. Qualcomm's fiscal third quarter ends this month.




Banc of America analyst Tim Long said in a note to clients that the company could issue a statement increasing its guidance for the quarter in the next two weeks.


Read more at Reuters.com Market News

Wuhan Steel Says U.S. Allegations That China is Dumping Metal Are `Unfair'

(Bloomberg) -- Wuhan Iron & Steel Co., China's
third-biggest steelmaker by market value, said North American
steelmakers' allegations that Chinese companies are dumping
steel products in the U.S. are ``unfair.''

``Chinese steel exports have soared because of higher
global prices and demand,'' Zhao said by phone from central
Hubei province today.


Read more at Bloomberg Emerging Markets News