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.


Read more at Bloomberg Stocks News

Tunisia c.bank keeps benchmark rate on hold

(Reuters) - Tunisia's central bank kept its key interest rate on hold, citing slowing inflation, swelling tourism revenue and strong exports, the bank said on Tuesday.

"In light of these evolutions, the management board decided to maintain the central bank's interest rate unchanged," it said in a statement after a monthly board meeting.


Read more at Reuters Africa

MISC, LNG Carrier, Postpones $750 Million Bond Sale on `Market Volatility'

(Bloomberg) -- MISC Bhd., the world's biggest owner
of liquefied natural gas tankers, postponed a planned dollar-
denominated bond sale because of fluctuations in debt yields
sparked by losses linked to U.S. subprime mortgages.

Kuala Lumpur-based MISC, a unit of Malaysian state-owned oil
company Petroliam Nasional Bhd., hired Citigroup Inc. and
Deutsche Bank AG to sell $750 million of 10-year bonds, an e-mail
sent to investors earlier this week showed.


Read more at Bloomberg Emerging Markets News

ProSiebenSat.1 to Combine With SBS Broadcasting in Deal Worth $4.4 Billion

(Bloomberg) -- ProSiebenSat.1 Media AG will combine
forces with SBS Broadcasting Group in a transaction valued by the
companies at 3.3 billion euros ($4.4 billion), the companies
announced today in an e-mailed statement.

ProSiebenSat.1 Media AG, Germany's largest broadcaster,
plans to create a pan-European broadcasting group, which will
significantly reduce its dependence on the German television
advertising market, the statement said. ProSiebenSat.1 expects to
complete the purchase in July.


Read more at Bloomberg Bonds News

Argentina, Brazil, Peru and Venezuela: Latin American Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Argentina: President Nestor Kirchner's approval rating fell
to the lowest level since taking office in May 2003 amid rising
consumer prices and energy shortages. Kirchner's approval rating
fell in June to 52 percent from 57 percent in May, according to
Buenos Aires-based Poliarquia. The president's approval rating
was 82 percent in February 2004.


Read more at Bloomberg Bonds News

Bancolombia, MMX Mineracao, Tam, Telmex: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Colombia and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

UPDATE 1-UTAC jumps on bid news, analysts say offer is fair

(Reuters) - SINGAPORE, June 27 - Shares of United Test and
Assembly Center rose as much as 8.3 percent on
Wednesday after private equity firm Texas Pacific Group and
Asia-focused buyout firm Affinity Equity Partners offered to
buy the Singapore microchip tester.




UTAC shares hit S$1.17, a level last seen in February 2004,
and the stock was the most actively traded stock on the
Singapore bourse with more than 146 million shares changing
hands.


Read more at Reuters.com Mergers News