(Reuters) - TRENTON, N.J., April 13 - New Jersey Gov. Jon Corzine was heavily sedated and breathing with the help of a ventilator on Friday after a highway accident, though his condition was improving, aides and doctors said.
The Democratic governor was listed in critical but stable condition following the Thursday night crash in which he broke his left leg, six ribs, his sternum and collarbone.
Read more at Reuters.com Bonds News
Friday, April 13, 2007
Cott, Dyax, FCStone, Sallie Mae, Semitool, Xpress: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 2:40 p.m. New York time.
Avalon Pharmaceuticals Inc. (AVRX US) rose 57 cents, or 12 percent, to $5.19 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
Avalon Pharmaceuticals Inc. (AVRX US) rose 57 cents, or 12 percent, to $5.19 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
No Survivors Are Expected in Capsizing of Rig-Service Vessel in North Sea
(Bloomberg) -- The U.K. navy resumed a search for five Norwegians missing from a boat that capsized yesterday in the North Sea and may be trapped inside the vessel. The U.K. coastguard said they are unlikely to be found alive.
Three out of the 15 Norwegians on board the Bourbon Dolphin are already confirmed dead, said Matthieu Pirouelle, a Paris- based spokesman for shipowner Bourbon SA, the world's largest owner of supply vessels for deepwater oil exploration. Divers are now at the capsized boat, Michael Mulford, a spokesman for the U.K. air force, said by phone from Kinloss, Scotland.
Read more at Bloomberg Energy News
Three out of the 15 Norwegians on board the Bourbon Dolphin are already confirmed dead, said Matthieu Pirouelle, a Paris- based spokesman for shipowner Bourbon SA, the world's largest owner of supply vessels for deepwater oil exploration. Divers are now at the capsized boat, Michael Mulford, a spokesman for the U.K. air force, said by phone from Kinloss, Scotland.
Read more at Bloomberg Energy News
Icahn: Motorola should fix problems before buyback
(Reuters) - The activist shareholder, who seeks a seat on Motorola's board, had previously only urged the company to increase its share repurchase program to boost shareholder value.
But he now says other matters take precedence.
Read more at Reuters.com Business News
But he now says other matters take precedence.
Read more at Reuters.com Business News
Dyax, Irwin Financial, Sallie Mae, Semitool, Ventana: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 1:10 p.m. New York time.
Avalon Pharmaceuticals Inc. (AVRX US) rose 54 cents, or 12 percent, to $5.16 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
Avalon Pharmaceuticals Inc. (AVRX US) rose 54 cents, or 12 percent, to $5.16 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
NJ governor on ventilator but stable after crash
(Reuters) - The Democratic governor was listed in critical but stable condition following the Thursday night highway accident in which he broke his left leg and several ribs.
Corzine, who was a passenger in the front of a police sport utility vehicle when it swerved to avoid another car, was not wearing a seat belt as mandated by state law.
Read more at Reuters.com Bonds News
Corzine, who was a passenger in the front of a police sport utility vehicle when it swerved to avoid another car, was not wearing a seat belt as mandated by state law.
Read more at Reuters.com Bonds News
RBS, Fortis and Santander move in on ABN -source
(Reuters) - Fortis, RBS, Santander were not available for comment. ABN declined to comment.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Judge approves CA ex-CEO's $800 million restitution
(Reuters) - Kumar's restitution agreement follows his sentencing in November to 12 years in prison for his role in a $2.2 billion accounting fraud at the computer software company, previously known as Computer Associates.
Kumar agreed to pay $52 million by the end of next year by liquidating assets belonging to him and his family including real estate, luxury cars and a yacht, according to court documents.
Read more at Reuters.com Business News
Kumar agreed to pay $52 million by the end of next year by liquidating assets belonging to him and his family including real estate, luxury cars and a yacht, according to court documents.
Read more at Reuters.com Business News
Analysts see Latin American stocks moving higher
(Reuters) - The region has shown the best performance against both developed and emerging markets this year, according to the MSCI all countries world index.
"The strength in Latin America is sustainable ... The valuation is still attractive. Brazil is still one of the cheapest markets in the world" in terms of price over earnings, said Don Elefson, who overseas $1.1 billion in emerging markets assets at the Excelsior Funds.
Read more at Reuters.com Bonds News
"The strength in Latin America is sustainable ... The valuation is still attractive. Brazil is still one of the cheapest markets in the world" in terms of price over earnings, said Don Elefson, who overseas $1.1 billion in emerging markets assets at the Excelsior Funds.
Read more at Reuters.com Bonds News
European Stocks Rise to 6 1/2-Year High; BP, AstraZeneca, BASF Pace Gains
(Bloomberg) -- European stocks advanced to the highest in almost 6 1/2 years, led by energy companies and drugmakers after oil rose for a fourth day and Merck & Co. forecast earnings that topped analysts' estimates.
BP Plc led oil and gas producers, the region's worst- performing stocks, to their highest this year, while AstraZeneca Plc paced the biggest increase in drug producers in almost five months. Nokia Oyj and Siemens AG advanced after reports showed the U.S. trade deficit unexpectedly narrowed and core producer prices remained in check.
Read more at Bloomberg Stocks News
BP Plc led oil and gas producers, the region's worst- performing stocks, to their highest this year, while AstraZeneca Plc paced the biggest increase in drug producers in almost five months. Nokia Oyj and Siemens AG advanced after reports showed the U.S. trade deficit unexpectedly narrowed and core producer prices remained in check.
Read more at Bloomberg Stocks News
Dyax, Medis, Merck, Nelnet, Varian, Ventana, Xpress: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 11:40 a.m. New York time.
Avalon Pharmaceuticals Inc. (AVRX US) rose 56 cents, or 12 percent, to $5.18 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
Avalon Pharmaceuticals Inc. (AVRX US) rose 56 cents, or 12 percent, to $5.18 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
SEC seeks more control in settlement talks - report
(Reuters) - Under the current system, staff members negotiate with companies before presenting a settlement proposal to the commissioners for approval.
The pilot plan has the potential to speed up settlements, as enforcement staff would already have an idea of the amount of financial penalty settlement the commissioners would be willing to approve.
Read more at Reuters.com Government Filings News
The pilot plan has the potential to speed up settlements, as enforcement staff would already have an idea of the amount of financial penalty settlement the commissioners would be willing to approve.
Read more at Reuters.com Government Filings News
European Bonds Log Fourth Week of Losses as Traders See ECB Rate Increase
(Bloomberg) -- European government bonds logged a fourth week of losses as traders added to bets on the European Central Bank lifting interest rates as much as half a percentage point this year.
The spread between Europe's 10-year bond yields and U.S. debt narrowed to the least in more than two years on speculation the ECB will be raising rates as the Federal Reserve stays on hold or cuts. Two-year note yields rose to the highest in almost five years after ECB President Jean-Claude Trichet said yesterday current borrowing costs were fuelling growth.
Read more at Bloomberg Bonds News
The spread between Europe's 10-year bond yields and U.S. debt narrowed to the least in more than two years on speculation the ECB will be raising rates as the Federal Reserve stays on hold or cuts. Two-year note yields rose to the highest in almost five years after ECB President Jean-Claude Trichet said yesterday current borrowing costs were fuelling growth.
Read more at Bloomberg Bonds News
S.Africa stocks touch new record, led by Implats
(Reuters) - South African stocks powered to another record peak on Friday as local institutions kept buying stocks like Impala Platinum and banks gained after interest rates were left unchanged.
The Johannesburg Top-40 index of blue-chip stocks marched 1.13 percent higher to 25,351.86 points, while the All-share index added 0.94 percent to 28,083.61 points.
Read more at Reuters Africa
The Johannesburg Top-40 index of blue-chip stocks marched 1.13 percent higher to 25,351.86 points, while the All-share index added 0.94 percent to 28,083.61 points.
Read more at Reuters Africa
U.S. Stocks Gain, Led by Health-Care Companies, Banks; Merck Shares Rally
(Bloomberg) -- U.S. stocks erased earlier declines and rose, led by health-care and financial companies, after Merck & Co. boosted its profit forecast and investors speculated SLM Corp. will be taken over.
The Standard & Poor's 500 Index gained 0.69 to 1448.49 as of 10:53 a.m. in New York, after earlier falling 0.3 percent. The Dow Jones Industrial Average added 9.35, or 0.1 percent, to 12,562.31. The Nasdaq Composite Index lost 4.56, or 0.2 percent, to 2475.76.
Read more at Bloomberg Stocks News
The Standard & Poor's 500 Index gained 0.69 to 1448.49 as of 10:53 a.m. in New York, after earlier falling 0.3 percent. The Dow Jones Industrial Average added 9.35, or 0.1 percent, to 12,562.31. The Nasdaq Composite Index lost 4.56, or 0.2 percent, to 2475.76.
Read more at Bloomberg Stocks News
US STOCKS-Inflation report lifts shares, Merck rises
(Reuters) - NEW YORK, April 13 - U.S. stocks gained on Friday after government data showed producer prices, excluding food and energy, were unchanged in March, easing fears about inflation and higher interest rates.
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters.com Bonds News
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters.com Bonds News
UPDATE 1-U.S. April consumer sentiment at 8-month low-UMich
(Reuters) - NEW YORK, April 13 - U.S. consumer sentiment fell to its lowest in eight months in April on rising gasoline prices and troubles in the housing market, while inflation expectations also rose sharply, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said the preliminary April reading of its consumer sentiment index slid to 85.3 from 88.4 in March.
Read more at Reuters.com Bonds News
The Reuters/University of Michigan Surveys of Consumers said the preliminary April reading of its consumer sentiment index slid to 85.3 from 88.4 in March.
Read more at Reuters.com Bonds News
No change in G7 currency language: source
(Reuters) - It also said G7 countries were monitoring currency markets closely.
"In emerging markets with large and growing current account surpluses, especially China, it is desirable that their effective exchange rates move so that necessary adjustments will occur," the Essen communique said.
Read more at Reuters.com Bonds News
"In emerging markets with large and growing current account surpluses, especially China, it is desirable that their effective exchange rates move so that necessary adjustments will occur," the Essen communique said.
Read more at Reuters.com Bonds News
UPDATE 1-ICE cuts about 60 NYBOT staff after merger
(Reuters) - The Atlanta-based electronic energy derivatives marketplace acquired NYBOT in January and launched side-by-side electronic trading of its agricultural commodities in early February.
"When the acquisition of NYBOT was announced, head-count reductions were included in the synergies, as well as the costs of generous severance packages," spokeswoman Kelly Loeffler stated in an e-mail.
Read more at Reuters.com Mergers News
"When the acquisition of NYBOT was announced, head-count reductions were included in the synergies, as well as the costs of generous severance packages," spokeswoman Kelly Loeffler stated in an e-mail.
Read more at Reuters.com Mergers News
UPDATE 1-Argentine econ grew 8-8.5 pct in Jan, Feb-minister
(Reuters) - "We're growing very well and at high rates," Miceli told Reuters ahead of chairing a meeting of the G24 in Washington. "In the first two months of the year growth will be around 8 to 8.5 percent. That's a projection," she added.
The IMF's top official said on Thursday that growth in Argentina, which has seen booming growth since a steep currency devaluation and record sovereign debt default in 2002, is moving slowly to a more sustainable path.
Read more at Reuters.com Economic News
The IMF's top official said on Thursday that growth in Argentina, which has seen booming growth since a steep currency devaluation and record sovereign debt default in 2002, is moving slowly to a more sustainable path.
Read more at Reuters.com Economic News
S.Africa maize ends steadier after heavy sell-off
(Reuters) - South Africa's white maize futures ended slightly firmer on Friday as buyers stocked up after two days of heavy losses.
Traders said this week's fluctuations reflected divisions over the extent of crop damage after severe drought in several maize-producing provinces.
Read more at Reuters Africa
Traders said this week's fluctuations reflected divisions over the extent of crop damage after severe drought in several maize-producing provinces.
Read more at Reuters Africa
UPDATE 1-Lubrizol sees earnings above Wall Street estimate
(Reuters) - The company said its revenues would rise because of a better price and product mix during the quarter, as well as higher-than-expected shipments.
The company said it expects first-quarter adjusted earnings from continuing operations of 98 cents a share, excluding a 2 cents a share credit for restructuring, compared with 68 cents a share a year ago.
Read more at Reuters.com Market News
The company said it expects first-quarter adjusted earnings from continuing operations of 98 cents a share, excluding a 2 cents a share credit for restructuring, compared with 68 cents a share a year ago.
Read more at Reuters.com Market News
U.S. Stocks Decline After Consumer Confidence Trails Forecast; Apple Drops
(Bloomberg) -- U.S. stocks fell after a bigger- than-forecast drop in consumer confidence raised concern household spending may falter.
Apple Inc. led losses in technology shares after the company delayed the release of its new Macintosh system software. Twenty- eight of 30 retailers in the Standard & Poor's 500 Index retreated.
Read more at Bloomberg Stocks News
Apple Inc. led losses in technology shares after the company delayed the release of its new Macintosh system software. Twenty- eight of 30 retailers in the Standard & Poor's 500 Index retreated.
Read more at Bloomberg Stocks News
Inflation report lifts US shares, Merck rises
(Reuters) - U.S. stocks gained on Friday after government data showed producer prices, excluding food and energy, were unchanged in March, easing fears about inflation and higher interest rates.
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters Africa
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters Africa
Altadis LBO Threat Makes It World's Worst Performing Credit-Default Swap
(Bloomberg) -- Concern Altadis SA, the Spanish maker of Gauloises cigarettes, may become the next target for buyout firm CVC Capital Partners Ltd. made it the world's worst performing credit-default swap today.
CVC, which yesterday scrapped a 10 billion-pound ($19.8 billion) bid for U.K. grocer J Sainsbury Plc, is discussing an offer for Altadis with buyout firms PAI Partners and Cinven Ltd., the Financial Times reported today. Credit-default swaps based on 10 million euros ($13 million) of Altadis debt jumped 14,000 euros to 70,000 euros, according to Deutsche Bank AG.
Read more at Bloomberg Bonds News
CVC, which yesterday scrapped a 10 billion-pound ($19.8 billion) bid for U.K. grocer J Sainsbury Plc, is discussing an offer for Altadis with buyout firms PAI Partners and Cinven Ltd., the Financial Times reported today. Credit-default swaps based on 10 million euros ($13 million) of Altadis debt jumped 14,000 euros to 70,000 euros, according to Deutsche Bank AG.
Read more at Bloomberg Bonds News
Russia's Benchmark RTS Stock Index Hits 2000 for First Time; Rosneft Gains
(Bloomberg) -- Russia's benchmark RTS Index surpassed the 2000 mark for the first time today. OAO Rosneft and OAO Lukoil led the gains on rising oil prices, a key support for the measure.
The RTS added 1.7 percent to 2001.19 at 5:07 p.m. in Moscow. Energy shares led the gain after oil prices jumped following the close of Russian stock markets yesterday. Oil and gas companies make up about half of the RTS and a third of the Micex Index, another benchmark for the stock market.
Read more at Bloomberg Emerging Markets News
The RTS added 1.7 percent to 2001.19 at 5:07 p.m. in Moscow. Energy shares led the gain after oil prices jumped following the close of Russian stock markets yesterday. Oil and gas companies make up about half of the RTS and a third of the Micex Index, another benchmark for the stock market.
Read more at Bloomberg Emerging Markets News
U.S. Trade Gap Unexpectedly Narrows 0.7 Percent on Fewer Chinese Imports
(Bloomberg) -- The U.S. trade deficit unexpectedly narrowed in February from the previous month, as the U.S. purchased fewer goods from China and imported less petroleum, a government report showed.
The gap in goods and services trade narrowed to $58.4 billion from $58.9 billion in January, the Commerce Department reported today in Washington. Imports and exports both declined. Imports from China fell to the lowest level since May 2006.
Read more at Bloomberg Currencies News
The gap in goods and services trade narrowed to $58.4 billion from $58.9 billion in January, the Commerce Department reported today in Washington. Imports and exports both declined. Imports from China fell to the lowest level since May 2006.
Read more at Bloomberg Currencies News
US STOCKS-Futures rise as core PPI is unchanged
(Reuters) - NEW YORK, April 13 - U.S. stock futures jumped on Friday, pointing to a stronger market open, after government data showed producer prices, excluding food and energy, were unchanged in March from February, calming fears about inflation and higher interest rates.
S&P 500 futures were up 3.7 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Read more at Reuters.com Bonds News
S&P 500 futures were up 3.7 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Read more at Reuters.com Bonds News
RAIT sells $350 mln senior notes, to buy back shares
(Reuters) - The company said in a statement that it granted the first purchaser an over-allotment option to buy an additional $75 million of notes.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-Canada Feb trade surplus shrinks due to strike
(Reuters) - The surplus fell well below the average forecast of a C$6.0 billion surplus by analysts in a Reuters poll. Statscan blamed the result on a strike by CN Rail workers which prevented exporters from shipping their goods.
Exports fell 2.1 percent in February from record highs in January to C$39.60 billion. Every sector was hit except energy, which is mainly shipped via pipelines, Statscan said. Industrial goods and materials led the decline, falling for the first time in 10 months.
Read more at Reuters.com Economic News
Exports fell 2.1 percent in February from record highs in January to C$39.60 billion. Every sector was hit except energy, which is mainly shipped via pipelines, Statscan said. Industrial goods and materials led the decline, falling for the first time in 10 months.
Read more at Reuters.com Economic News
Brazilian Real, Mexican, Colombian Pesos: Latin American Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American currencies today. Exchange rates are from the previous session.
Brazilian real: Brazilian President Luiz Inacio Lula da Silva's government approval rating fell in April from December, pollster Ibope said yesterday.
Read more at Bloomberg Currencies News
Brazilian real: Brazilian President Luiz Inacio Lula da Silva's government approval rating fell in April from December, pollster Ibope said yesterday.
Read more at Bloomberg Currencies News
TREASURIES-Bonds flat ahead of producer price inflation
(Reuters) - "This morning, with the PPI release, will be a test of last Friday's lows," said John Spinello, Treasury bond strategist, with Jefferies & Co. in New York.
If the core reading were to match the consensus forecast, that would still be a "somewhat comfortable" year-over-year rate, Spinello said; within the Fed's perceived comfort zone of between 1 and 2 percent for core inflation measures.
Read more at Reuters.com Bonds News
If the core reading were to match the consensus forecast, that would still be a "somewhat comfortable" year-over-year rate, Spinello said; within the Fed's perceived comfort zone of between 1 and 2 percent for core inflation measures.
Read more at Reuters.com Bonds News
Copper Heads for Its Sixth Weekly Gain in London on Grasberg Mine Dispute
(Bloomberg) -- Copper rose, heading for a sixth consecutive weekly gain on speculation that supply won't meet demand as workers at Indonesia's Grasberg mine, the world's second-largest copper mine, plan a protest over wages.
The ``rally'' starting April 18 will last until management gives written commitments on the workers' demands, said Frans Pigome, head of Tongoi Papua, the local group behind the action. The group planned a ``peaceful demonstration,'' said Mindo Pangaribuan, a spokesman for mine owner Freeport McMoRan Copper & Gold Inc.
Read more at Bloomberg Commodities News
The ``rally'' starting April 18 will last until management gives written commitments on the workers' demands, said Frans Pigome, head of Tongoi Papua, the local group behind the action. The group planned a ``peaceful demonstration,'' said Mindo Pangaribuan, a spokesman for mine owner Freeport McMoRan Copper & Gold Inc.
Read more at Bloomberg Commodities News
US STOCKS-Futures flat after GE earnings; PPI looms
(Reuters) - GE, whose businesses range from jet engines to the NBC television network, also reaffirmed its profit outlook for the year. For details, see [ID:nN13422560].
Producer prices data set for 8:30 a.m. could sway the direction of trading. The minutes released this week by the Federal Reserve from its March policy-setting meeting hinted at the need for more interest rate increases.
Read more at Reuters.com Bonds News
Producer prices data set for 8:30 a.m. could sway the direction of trading. The minutes released this week by the Federal Reserve from its March policy-setting meeting hinted at the need for more interest rate increases.
Read more at Reuters.com Bonds News
GE reports higher first-quarter profit
(Reuters) - Analysts on average had expected profit of 44 cents per share, according to Reuters Estimates.
Revenue came in at $40.2 billion, up 5.7 percent from $38.03 billion a year earlier. Analysts on average had expected $39.76 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Revenue came in at $40.2 billion, up 5.7 percent from $38.03 billion a year earlier. Analysts on average had expected $39.76 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Rio Tinto Says China's Demand for Metals, Minerals `Strong' and `Growing'
(Bloomberg) -- Rio Tinto Group, the world's third- largest mining company, said China's ``strong'' and ``growing'' demand for metals and minerals will continue this year.
``There is strong momentum in most Asian economies which represent big markets for us,'' Chief Executive Officer Leigh Clifford said today at an annual shareholder meeting in London, in comments distributed through the Regulatory News Service.
Read more at Bloomberg Commodities News
``There is strong momentum in most Asian economies which represent big markets for us,'' Chief Executive Officer Leigh Clifford said today at an annual shareholder meeting in London, in comments distributed through the Regulatory News Service.
Read more at Bloomberg Commodities News
Cavium Networks sees IPO of 6.25 mln shares at $10-$12 each
(Reuters) - Cavium Networks said it applied for a Nasdaq listing under the symbol "CAVM."
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Floods slash Zambia's Q1 copper output - c.bank head
(Reuters) - Zambia's finished copper production declined 9.3 percent in the first quarter of 2007 due to flooding in the country's rich copper-belt region, central bank governor Caleb Fundanga said.
Copper output, which is the economic lifeblood of the southern African nation, fell to 114,239 tonnes for the three months ended March from 125,880 tonnes in the same period in 2006, Fundanga said in a press conference late on Thursday.
Read more at Reuters Africa
Copper output, which is the economic lifeblood of the southern African nation, fell to 114,239 tonnes for the three months ended March from 125,880 tonnes in the same period in 2006, Fundanga said in a press conference late on Thursday.
Read more at Reuters Africa
Crude Oil Pares Gains, Remains Above $64 a Barrel on Outlook for Gasoline
(Bloomberg) -- Oil pared gains after rising a fourth day on expectations U.S. gasoline consumption will spur demand for crude.
Oil for May delivery traded at $64.26 a barrel, up 41 cents, at 10:08 a.m. in London, in after-hours electronic trading on the New York Mercantile Exchange. It had risen as much as 73 cents to $64.58 a barrel.
Read more at Bloomberg Energy News
Oil for May delivery traded at $64.26 a barrel, up 41 cents, at 10:08 a.m. in London, in after-hours electronic trading on the New York Mercantile Exchange. It had risen as much as 73 cents to $64.58 a barrel.
Read more at Bloomberg Energy News
U.S. Capital Investment Decline Is a Major Threat to Economy, Survey Says
(Bloomberg) -- The main threat facing the U.S. economy is a decline in capital investment by businesses, which has overtaken the falling housing market as the main problem, according to a WSJ.com survey of 54 economic forecasters.
Twenty of the economists identified soft capital spending as the main risk to their expectations that the economy will show slight gains and avoid recession this year.
Read more at Bloomberg Currencies News
Twenty of the economists identified soft capital spending as the main risk to their expectations that the economy will show slight gains and avoid recession this year.
Read more at Bloomberg Currencies News
CEZ, Iberdrola Added to `Most Preferred' Utilities List at Merrill Lynch
(Bloomberg) -- CEZ AS and Iberdrola SA were added to a list of ``most preferred'' utilities stocks at Merrill Lynch & Co., reflecting the expected growth of the electricity market in central Europe and Iberdrola's purchase of a British power company, Merrill said.
The investment bank added the companies to its April list of preferred utility stocks, replacing Gaz de France SA and Germany's RWE AG, according to a Merrill report dated April 11. Centrica Plc and Enagas SA remain on the list.
Read more at Bloomberg Energy News
The investment bank added the companies to its April list of preferred utility stocks, replacing Gaz de France SA and Germany's RWE AG, according to a Merrill report dated April 11. Centrica Plc and Enagas SA remain on the list.
Read more at Bloomberg Energy News
U.K. FTSE 100 Stocks Advance, Paced by BP, Shell; GlaxoSmithKline Gains
(Bloomberg) -- U.K. stocks advanced, led by BP Plc and Royal Dutch Shell Plc as the price of crude rose for a fourth day. GlaxoSmithKline Plc gained after it won approval for its Altabax drug.
The benchmark FTSE 100 Index rose 15.60, or 0.2 percent, to 6432 at 8:16 a.m. The FTSE All-Share Index climbed 0.3 percent to 3348.41. Ireland's ISEQ Index rose 0.2 percent to 9574.51.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index rose 15.60, or 0.2 percent, to 6432 at 8:16 a.m. The FTSE All-Share Index climbed 0.3 percent to 3348.41. Ireland's ISEQ Index rose 0.2 percent to 9574.51.
Read more at Bloomberg Stocks News
New Zealand Electricity Prices Increase on Plant Breakdown, Colder Weather
(Bloomberg) -- New Zealand power prices jumped to a five-month high after a breakdown at Contact Energy Ltd.'s biggest gas-fired generator cut supplies and a cold snap increased demand.
Output from the 380-megawatt Otahuhu plant was cut mid-week after the company had to fix a fault in the generator's steam turbine, spokesman Bruce Parkes said today. The breakdown occurred as cold weather increased heating demand and also forced up the cost of generators held in reserve during testing of coal and gas units at Genesis Power Ltd.'s Huntly site, power market operator Marketplace Co. said.
Read more at Bloomberg Energy News
Output from the 380-megawatt Otahuhu plant was cut mid-week after the company had to fix a fault in the generator's steam turbine, spokesman Bruce Parkes said today. The breakdown occurred as cold weather increased heating demand and also forced up the cost of generators held in reserve during testing of coal and gas units at Genesis Power Ltd.'s Huntly site, power market operator Marketplace Co. said.
Read more at Bloomberg Energy News
Vattenfall Says Ringhals-1 Reactor Gets Approval to Increase Power Output
(Bloomberg) -- Vattenfall AB, the Nordic region's biggest utility, said the Ringhals-1 nuclear reactor received approval to increase its power capacity and will start preparations in three days.
The reactor got permission to increase capacity to 856 megawatts from 843 megawatts, the company said in a message sent today by the Nord Pool power exchange. Power will be increased on April 20, followed by a test period, Vattenfall said.
Read more at Bloomberg Energy News
The reactor got permission to increase capacity to 856 megawatts from 843 megawatts, the company said in a message sent today by the Nord Pool power exchange. Power will be increased on April 20, followed by a test period, Vattenfall said.
Read more at Bloomberg Energy News
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