(Reuters) - South Africa's rand was steady against the dollar on Tuesday, and traders said the currency could test firmer levels in the session because of positive sentiment toward emerging markets.
At 0630 GMT, the rand stood at 7.1025 versus the dollar, not far from its New York close of 7.105 on Monday.
Read more at Reuters Africa
Monday, April 16, 2007
UPDATE 1-Tesco year profit tops 2.5 bln stg, ups cash return
(Reuters) - Britain's biggest retailer said on Tuesday it expected to return at least 3 billion pounds to investors, up from 1.5 billion previously.
With private equity firms targeting several of Britain's retailers for possible takeover, in part because of their rich asset base, companies are under pressure to extract value from the big rise in value of commercial properties.
Read more at Reuters.com Market News
With private equity firms targeting several of Britain's retailers for possible takeover, in part because of their rich asset base, companies are under pressure to extract value from the big rise in value of commercial properties.
Read more at Reuters.com Market News
Palm Oil Futures Decline in Malaysia on Concerns Recent Rally Was Overdone
(Bloomberg) -- Palm oil futures declined as some investors sold the commodity on concerns that the rally to the highest in more than eight years yesterday was overdone.
Palm oil futures rose 7.2 percent in the two weeks before today as Malaysia, the world's largest producer of the tropical oil, reported unexpectedly strong growth in exports this month.
Read more at Bloomberg Commodities News
Palm oil futures rose 7.2 percent in the two weeks before today as Malaysia, the world's largest producer of the tropical oil, reported unexpectedly strong growth in exports this month.
Read more at Bloomberg Commodities News
South Korean Stocks Fall From Record, as Exporters Decline on Strong Won
(Bloomberg) -- South Korean stocks slid from a record. Exporters led by LG.Philips LCD Co. fell after the won appreciated against the dollar to its highest level in more than three months, raising speculation the value of overseas earnings will drop.
``The exchange rate is around the 930's now, so we're also watching its effect on exporters,'' said Kim Jun Ki, who manages about $1.1 billion in equities at Hanwha Investment Trust Management Co. in Seoul. ``There's a little concern earnings recoveries could get delayed a bit.''
Read more at Bloomberg Stocks News
``The exchange rate is around the 930's now, so we're also watching its effect on exporters,'' said Kim Jun Ki, who manages about $1.1 billion in equities at Hanwha Investment Trust Management Co. in Seoul. ``There's a little concern earnings recoveries could get delayed a bit.''
Read more at Bloomberg Stocks News
UPDATE 1-U.S. approves Novartis' Reclast for bone disease
(Reuters) - Novartis said Reclast, or zoledronic acid, had won U.S. approval as the first new treatment in nearly a decade for patients with the disease, which affects about one million people in the United States and around four million worldwide.
The medicine is now approved in more than 50 countries for Paget's disease, Novartis said.
Read more at Reuters.com Government Filings News
The medicine is now approved in more than 50 countries for Paget's disease, Novartis said.
Read more at Reuters.com Government Filings News
Cerberus group's plan to buy Delphi hits hurdle: WSJ
(Reuters) - Cerberus has expressed concerns to the union, United Auto Workers, General Motors and Delphi about the auto parts maker's profitability a few years from now, when new hires's pay increases, the Journal reported.
The burden of keeping negotiations at Delphi going has fallen on GM, the paper said, adding that it could force GM to further subsidize wages and benefits for new and future employees at Delphi.
Read more at Reuters.com Mergers News
The burden of keeping negotiations at Delphi going has fallen on GM, the paper said, adding that it could force GM to further subsidize wages and benefits for new and future employees at Delphi.
Read more at Reuters.com Mergers News
U.S. Consumer Prices Probably Increased in March as Gasoline Costs Jumped
(Bloomberg) -- A jump in fuel costs last month probably contributed to the biggest increase in U.S. consumer prices in almost a year, keeping the Federal Reserve on guard against a pickup in inflation.
Prices rose 0.6 percent, the most since April 2006, after a 0.4 percent February increase, based on the median forecast of economists surveyed by Bloomberg News ahead of a Labor Department report today. Core prices, which exclude food and energy, rose 0.2 percent for a second month, the survey showed.
Read more at Bloomberg Currencies News
Prices rose 0.6 percent, the most since April 2006, after a 0.4 percent February increase, based on the median forecast of economists surveyed by Bloomberg News ahead of a Labor Department report today. Core prices, which exclude food and energy, rose 0.2 percent for a second month, the survey showed.
Read more at Bloomberg Currencies News
US STOCKS-Wall St surges on Citigroup, Sallie Mae
(Reuters) - NEW YORK, April 16 - U.S. stocks rose on Monday, as investors snapped up financial shares after unexpectedly strong results from Citigroup and news of a $25 billion buyout of student loan company Sallie Mae.
The gains took all three major indexes firmly back above the levels seen before the stock market's late February sell-off, with Citigroup's shares leading advances on both the S&P 500 and the Dow, with a 3.1 percent gain.
Read more at Reuters.com Bonds News
The gains took all three major indexes firmly back above the levels seen before the stock market's late February sell-off, with Citigroup's shares leading advances on both the S&P 500 and the Dow, with a 3.1 percent gain.
Read more at Reuters.com Bonds News
Oil Falls on Signs U.S. Inventories Are Adequate to Meet Gasoline Demand
(Bloomberg) -- Crude oil fell on speculation that U.S. inventories are adequate to meet increased demand from refiners making gasoline for the summer months.
Crude oil for May delivery fell 39 cents, or 0.6 percent, to $63.24 a barrel at 10:07 a.m. on the New York Mercantile Exchange. Prices are down 9.5 percent from a year ago.
Read more at Bloomberg Energy News
Crude oil for May delivery fell 39 cents, or 0.6 percent, to $63.24 a barrel at 10:07 a.m. on the New York Mercantile Exchange. Prices are down 9.5 percent from a year ago.
Read more at Bloomberg Energy News
Corn Falls as Dry Spell Improves U.S. Planting; Wheat, Soybeans Also Drop
(Bloomberg) -- Corn prices in Chicago may fall as dry weather firms muddy Midwest fields enough to allow U.S. farmers to accelerate spring planting. Soybeans and wheat also may decline.
Most of the Midwest will be dry the next five days after unusually heavy rains and low temperatures left the soil too muddy for tractors and planting machines, said John Dee, president of Global Weather Monitoring in Mohawk, Michigan. The next-best chance for widespread rain is April 24, Dee said.
Read more at Bloomberg Commodities News
Most of the Midwest will be dry the next five days after unusually heavy rains and low temperatures left the soil too muddy for tractors and planting machines, said John Dee, president of Global Weather Monitoring in Mohawk, Michigan. The next-best chance for widespread rain is April 24, Dee said.
Read more at Bloomberg Commodities News
JetBlue cancels more flights due to storm
(Reuters) - "Right now, we're thinking that will take the pressure off the system, and we'll be back up and running like normal tomorrow," JetBlue spokesman Bryan Baldwin said.
It took days for JetBlue to recover from an ice storm at its New York hub in February. That storm caused it to cancel some 1,200 flights.
Read more at Reuters.com Market News
It took days for JetBlue to recover from an ice storm at its New York hub in February. That storm caused it to cancel some 1,200 flights.
Read more at Reuters.com Market News
UPDATE 2-Investor group to buy Sallie Mae for $25 billion
(Reuters) - NEW YORK/PHILADELPHIA, April 16 - Sallie Mae said on Monday it had accepted a $25 billion takeover bid from two private-investment funds along with JPMorgan Chase & Co. and Bank of America Corp. in one of the largest ever buyouts of a financial company.
The deal comes at a difficult time for the largest U.S. student loan company, which last week settled a regulatory investigation into some of its lending practices. It also could suffer if proposed legislation successfully reduces demand for privately underwritten student loans.
Read more at Reuters.com Bonds News
The deal comes at a difficult time for the largest U.S. student loan company, which last week settled a regulatory investigation into some of its lending practices. It also could suffer if proposed legislation successfully reduces demand for privately underwritten student loans.
Read more at Reuters.com Bonds News
Quest Diagnostics to buy Ameripath for $1.23 bln
(Reuters) - PHILADELPHIA, April 16 - Medical-testing company Quest Diagnostics Inc. said on Monday it will acquire diagnostic testing equipment company AmeriPath Inc. for $1.23 billion in cash, boosting Quest's cancer-detection business.
AmeriPath, controlled by Welsh, Carson, Anderson and Stowe IX L.P., provides dermatopathology, anatomic pathology and esoteric testing and has annual revenue of more than $800 million.
Read more at Reuters.com Mergers News
AmeriPath, controlled by Welsh, Carson, Anderson and Stowe IX L.P., provides dermatopathology, anatomic pathology and esoteric testing and has annual revenue of more than $800 million.
Read more at Reuters.com Mergers News
Fed's Plosser lauds benefits of inflation targets
(Reuters) - Plosser praised the ECB's policy of "clearly stating price stability as its main objective and announcing a target for where it is going to keep the inflation rate."
Plosser did not specifically address the U.S. economy or monetary policy in remarks to a conference on EU expansion.
Read more at Reuters.com Bonds News
Plosser did not specifically address the U.S. economy or monetary policy in remarks to a conference on EU expansion.
Read more at Reuters.com Bonds News
Eaton posts profit, but still sees industry decline
(Reuters) - The markets Eaton serves performed as expected in the first quarter, "buoyed by stronger conditions in the markets for NAFTA heavy-duty trucks and Brazilian agricultural equipment, offset by weaker conditions in the North American markets for residential electrical equipment and hydraulics," Eaton Chief Executive Alexander Cutler said in a statement.
The company expects the North American heavy-duty truck market to be slightly weaker for the balance of the year after it was stronger than expected at the start.
Read more at Reuters.com Market News
The company expects the North American heavy-duty truck market to be slightly weaker for the balance of the year after it was stronger than expected at the start.
Read more at Reuters.com Market News
U.S. Treasuries Little Changed as Retail Sales Increase More Than Forecast
(Bloomberg) -- Treasuries were little changed after a government report showed retail sales in the U.S. last month rose more than economists forecast.
Ten-year benchmark debt last week fell for a fourth week and a further decline over the coming five days would push the securities to their longest losing streak since August 2005.
Read more at Bloomberg Bonds News
Ten-year benchmark debt last week fell for a fourth week and a further decline over the coming five days would push the securities to their longest losing streak since August 2005.
Read more at Bloomberg Bonds News
US STOCKS-Futures add to gains after retail sales
(Reuters) - S&P 500 futures were up 5.90 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures were up 42 points and Nasdaq 100 futures rose 6.75 points.
Read more at Reuters.com Bonds News
Dow Jones industrial average futures were up 42 points and Nasdaq 100 futures rose 6.75 points.
Read more at Reuters.com Bonds News
GLOBAL MARKETS-Stocks up, yen falls as G7 fuels risk appetite
(Reuters) - LONDON, April 16 - World stock markets hit record peaks on Monday after top policymakers highlighted the strength and improving balance of global economic growth, encouraging already bullish investors to increase their appetite for risk.
U.S. stock markets were set for a firmer start, buoyed by news that Sallie Mae, the largest U.S. student loan company, has agreed to be bought for $25 billion.
Read more at Reuters.com Bonds News
U.S. stock markets were set for a firmer start, buoyed by news that Sallie Mae, the largest U.S. student loan company, has agreed to be bought for $25 billion.
Read more at Reuters.com Bonds News
Pound Leaps to Highest Since September 1992 as House, Factory Prices Surge
(Bloomberg) -- The pound leapt to the highest in 15 years against the dollar as U.K. reports showing faster inflation prompted traders to add to wagers that the Bank of England will raise interest rates twice more this year.
The currency rose for a fifth straight day after reports showed gains in housing costs accelerated and factory-gate prices increased the most in 11 months. The prospect of higher rates prompted investors to buy U.K. assets using funds borrowed in lower-yielding currencies such as the yen, which sank to the weakest in more than two months against the pound.
Read more at Bloomberg Currencies News
The currency rose for a fifth straight day after reports showed gains in housing costs accelerated and factory-gate prices increased the most in 11 months. The prospect of higher rates prompted investors to buy U.K. assets using funds borrowed in lower-yielding currencies such as the yen, which sank to the weakest in more than two months against the pound.
Read more at Bloomberg Currencies News
TREASURIES-Bond prices ease ahead of retail sales data
(Reuters) - However, traders said the more important data for the market will be the release on Tuesday of March consumer prices, which are an important gauge of inflation.
Bonds also were weaker on Monday in an inverse move to higher stock market futures.
Read more at Reuters.com Bonds News
Bonds also were weaker on Monday in an inverse move to higher stock market futures.
Read more at Reuters.com Bonds News
Education Finance in $2.5 mln New York settlement
(Reuters) - Education Finance officials could not be reached immediately for comment.
Last month Cuomo announced he would take Education Finance to court, the first legal action arising from a six month investigation into the $85 billion a year student loan industry. The probe, which has revealed unseemly financial dealings between loan companies and schools, has expanded to at least six lenders and about 100 universities and colleges across the United States.
Read more at Reuters.com Government Filings News
Last month Cuomo announced he would take Education Finance to court, the first legal action arising from a six month investigation into the $85 billion a year student loan industry. The probe, which has revealed unseemly financial dealings between loan companies and schools, has expanded to at least six lenders and about 100 universities and colleges across the United States.
Read more at Reuters.com Government Filings News
Nasdaq sees $24.9 mln in LSE-bid charges
(Reuters) - The company expects a quarterly profit of $18.3 million, or 14 cents a share, when it reports results this Thursday, compared with net income of $18 million, or 16 cents per diluted share a year earlier.
The electronic equity securities market said in a statement that it expected operating income of $81.4 million.
Read more at Reuters.com Business News
The electronic equity securities market said in a statement that it expected operating income of $81.4 million.
Read more at Reuters.com Business News
Equitable Resources, Range in deal for Virginia gas field
(Reuters) - The field contains more than 1,150 producing coal bed methane wells and more than 450 producing tight gas sand wells.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
US STOCKS-Futures rise, lifted by purchase of Sallie Mae
(Reuters) - The market also could take direction from government data on retail sales last month, which could provide clues on the strength of consumer spending, a major element of economic growth.
Private-investment funds JC Flowers & Co. and Friedman Fleischer & Lowe plan to take a 50.2 percent stake in SLM Corp. , better known as Sallie Mae, the student loan company said.
Read more at Reuters.com Bonds News
Private-investment funds JC Flowers & Co. and Friedman Fleischer & Lowe plan to take a 50.2 percent stake in SLM Corp. , better known as Sallie Mae, the student loan company said.
Read more at Reuters.com Bonds News
Wachovia first-quarter profit rises
(Reuters) - Net income for the Charlotte, North Carolina-based company rose to $2.3 billion, or $1.20 per share, from $1.73 billion, or $1.09 per share, a year earlier.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Oil Rises Above $64 in New York on Expectations of Growing Gasoline Demand
(Bloomberg) -- Crude oil rose above $64 a barrel in New York on expectations of higher gasoline demand this summer in the U.S, the world's largest energy consumer.
U.S. gasoline supplies were 4 percent below their five-year average, according to Energy Department data. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel.
Read more at Bloomberg Energy News
U.S. gasoline supplies were 4 percent below their five-year average, according to Energy Department data. Refineries ran at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, as they ended maintenance and began making more fuel.
Read more at Bloomberg Energy News
U.S. Stock-Index Futures Rise; Google, Eli Lilly Shares Advance in Europe
(Bloomberg) -- U.S. stock-index futures rose on speculation mergers and acquisitions will continue after the Wall Street Journal reported SLM Corp., the education lender known as Sallie Mae, accepted an offer.
Shares of SLM, which didn't trade in Europe, may be active after the Journal report. Google Inc., the most-used Internet search engine, gained after agreeing to buy DoubleClick Inc. for $3.1 billion in its biggest-ever acquisition.
Read more at Bloomberg Stocks News
Shares of SLM, which didn't trade in Europe, may be active after the Journal report. Google Inc., the most-used Internet search engine, gained after agreeing to buy DoubleClick Inc. for $3.1 billion in its biggest-ever acquisition.
Read more at Bloomberg Stocks News
UPDATE 1-Japan govt ups view on consumption in April report
(Reuters) - Its overall assessment of the economy was unchanged.
"The economy is recovering, despite weakness in industrial production in some sectors," the government said in the report on Monday. Last month, it said the economy was recovering despite some weakness in consumption.
Read more at Reuters.com Bonds News
"The economy is recovering, despite weakness in industrial production in some sectors," the government said in the report on Monday. Last month, it said the economy was recovering despite some weakness in consumption.
Read more at Reuters.com Bonds News
Amylin reports smaller loss, higher drug sales
(Reuters) - Analysts had on average expected a loss of 43 cents a share.
Revenue rose to $172 million from $82.3 million.
Read more at Reuters.com Market News
Revenue rose to $172 million from $82.3 million.
Read more at Reuters.com Market News
U.S. stocks seen up as Citigroup and data eyed
(Reuters) - Eaton , Grainger , Mattel , Wachovia and Eli Lilly are among other companies due to report this session.
U.S. stock index futures were 0.2 to 0.3 percent higher, drawing support from an upbeat session on Friday when stronger profit outlooks from drug maker Merck & Co. and fast-food restaurant chain McDonald's Corp. boosted sentiment.
Read more at Reuters.com Bonds News
U.S. stock index futures were 0.2 to 0.3 percent higher, drawing support from an upbeat session on Friday when stronger profit outlooks from drug maker Merck & Co. and fast-food restaurant chain McDonald's Corp. boosted sentiment.
Read more at Reuters.com Bonds News
GLOBAL MARKETS-Stocks at record highs, yen weak after G7
(Reuters) - The yen sank to an all-time low versus the euro after Group of Seven finance officials made no specific mention of the Japanese currency at their weekend meeting in Washington.
Traders saw this as a green light to continue borrowing low-yielding currencies such as the yen to fund purchases of higher yielding currencies and assets in the carry trade.
Read more at Reuters.com Bonds News
Traders saw this as a green light to continue borrowing low-yielding currencies such as the yen to fund purchases of higher yielding currencies and assets in the carry trade.
Read more at Reuters.com Bonds News
European Carbon Emissions Permits for December Climb to Highest This Year
(Bloomberg) -- European Union carbon dioxide permit prices for 2008 rose to their highest this year, making power production from plants burning fossil fuel more costly. Electricity contracts for next-year in Germany gained.
Permits for December 2008 rose for a fifth day, gaining as much as 47 cents, or 2.6 percent, to 18.30 euros ($24.79) a metric ton in Amsterdam, according to the European Climate Exchange. They were at 18.20 euros at 9:54 a.m. local time.
Read more at Bloomberg Energy News
Permits for December 2008 rose for a fifth day, gaining as much as 47 cents, or 2.6 percent, to 18.30 euros ($24.79) a metric ton in Amsterdam, according to the European Climate Exchange. They were at 18.20 euros at 9:54 a.m. local time.
Read more at Bloomberg Energy News
Malaysian Ringgit Rises to Nine-Year High on Equities Inflow Speculation
(Bloomberg) -- The Malaysian ringgit gained to the strongest in nine years on speculation a rally in the nation's stocks will boost demand for the currency. Government bonds were little changed.
The ringgit extended a four-week rally as the benchmark equity index rose for a third day to within less than a point of its highest close since January 1994. Second Finance Minister Nor Mohamed Yakcop said on April 13 the stronger ringgit hasn't hurt exports as the gain has been gradual and will be ``stable.''
Read more at Bloomberg Currencies News
The ringgit extended a four-week rally as the benchmark equity index rose for a third day to within less than a point of its highest close since January 1994. Second Finance Minister Nor Mohamed Yakcop said on April 13 the stronger ringgit hasn't hurt exports as the gain has been gradual and will be ``stable.''
Read more at Bloomberg Currencies News
JGBs tumble on Nikkei surge, slide in Treasuries
(Reuters) - The outcome of a Group of Seven finance ministers meeting on Friday had little direct impact on bonds, but the G7's failure to single out the weak yen hit the Japanese currency and helped ignite a 1.5 percent jump in the Nikkei share average .
"It's all on the back of equities," said a JGB futures trader at a European bank.
Read more at Reuters.com Bonds News
"It's all on the back of equities," said a JGB futures trader at a European bank.
Read more at Reuters.com Bonds News
South African Rand Gains on Speculation Edgars Deal May Boost Investment
(Bloomberg) -- The South African rand gained for the first day in a week after shareholders approved the buy-out of the country's largest retailer, leading to foreign exchange inflows.
Shareholders of Edgars Consolidated Stores Ltd. today voted to accept Bain Capital LLC's $3.5 billion takeover bid for the Johannesburg-based company. The bid, which was approved by more than 80 percent of stockholders, may boost demand for the currency as foreign investors buy the currency to pay for their shares.
Read more at Bloomberg Currencies News
Shareholders of Edgars Consolidated Stores Ltd. today voted to accept Bain Capital LLC's $3.5 billion takeover bid for the Johannesburg-based company. The bid, which was approved by more than 80 percent of stockholders, may boost demand for the currency as foreign investors buy the currency to pay for their shares.
Read more at Bloomberg Currencies News
Iron Ore Prices May Not Fall Until 2013 on China Usage, Credit Suisse Says
(Bloomberg) -- Steelmakers may keep paying record iron ore prices until 2013 because Cia. Vale do Rio Doce and rival mining companies can't meet surging demand from China, Credit Suisse Group says.
Prices of the key steelmaking ingredient may rise 10 percent next year and 3.2 percent in 2009, analysts Roger Downey and Ivan Fadel said in an April 13 report. They may stay at a record until a forecast 7 percent fall in 2013, it said.
Read more at Bloomberg Commodities News
Prices of the key steelmaking ingredient may rise 10 percent next year and 3.2 percent in 2009, analysts Roger Downey and Ivan Fadel said in an April 13 report. They may stay at a record until a forecast 7 percent fall in 2013, it said.
Read more at Bloomberg Commodities News
Edcon buy-out approved by shareholders
(Reuters) - Shareholders in South African fashion retailer Edcon voted on Monday in favour of the proposed buyout of the firm by private equity firm Bain Capital for 25 billion rand.
An official overseeing the vote counting of the proposed deal to acquire Edgars Consolidated Stores Ltd (Edcon) said the votes in favour of the deal were 80.6 percent. Bain Capital needed 75 percent shareholder approval for the deal to succeed.
Read more at Reuters Africa
An official overseeing the vote counting of the proposed deal to acquire Edgars Consolidated Stores Ltd (Edcon) said the votes in favour of the deal were 80.6 percent. Bain Capital needed 75 percent shareholder approval for the deal to succeed.
Read more at Reuters Africa
Sallie Mae agrees to be sold for $25 bln-WSJ
(Reuters) - NEW YORK, April 16 - Sallie Mae, the largest U.S. student loan company, has agreed to be bought by two private-investment funds along with JPMorgan Chase & Co and Bank of America Corp. for $25 billion, the Wall Street Journal reported on its Web site on Monday.
JC Flowers & Co. and Friedman Fleischer & Lowe LLC plan to take a 50.2 percent stake in Sallie Mae, the paper reported, citing unnamed sources, while JPMorgan and Bank of America each would take 24.9 percent stakes.
Read more at Reuters.com Bonds News
JC Flowers & Co. and Friedman Fleischer & Lowe LLC plan to take a 50.2 percent stake in Sallie Mae, the paper reported, citing unnamed sources, while JPMorgan and Bank of America each would take 24.9 percent stakes.
Read more at Reuters.com Bonds News
European Bond Yields Hold at 4-Year High; Germany to Lift Growth Forecast
(Bloomberg) -- The yield on two-year European government notes held near a four-year high after Bundesbank President Axel Weber said Germany's central bank may raise its forecast for economic growth this year.
Benchmark debt fell for a fourth week after the European Central Bank added to speculation it may lift interest rates as much as half a percentage point this year. ``There is the chance we may raise our forecast,'' Weber, who is also a council member of the ECB, told Germany's Frankfurter Allgemeine Zeitung. The Bundesbank's current forecast for growth in Europe's largest economy is around 2 percent.
Read more at Bloomberg Bonds News
Benchmark debt fell for a fourth week after the European Central Bank added to speculation it may lift interest rates as much as half a percentage point this year. ``There is the chance we may raise our forecast,'' Weber, who is also a council member of the ECB, told Germany's Frankfurter Allgemeine Zeitung. The Bundesbank's current forecast for growth in Europe's largest economy is around 2 percent.
Read more at Bloomberg Bonds News
European Stocks Advance; ABN Amro, Philips, BHP Billiton, Rio Tinto Climb
(Bloomberg) -- European stocks extended last week's advance after ABN Amro Holding NV said banks including Royal Bank of Scotland Group Plc may offer to buy the Dutch company, fueling speculation takeovers will lift shares.
ABN Amro shares jumped to a record high. The lender that's the target of the largest takeover battle in the financial- services industry also said first-quarter profit rose 31 percent, reporting earnings earlier than expected because of ``recent developments.''
Read more at Bloomberg Stocks News
ABN Amro shares jumped to a record high. The lender that's the target of the largest takeover battle in the financial- services industry also said first-quarter profit rose 31 percent, reporting earnings earlier than expected because of ``recent developments.''
Read more at Bloomberg Stocks News
Japan's 10-Year Bonds Have Biggest Drop in Almost Two Weeks as Stocks Gain
(Bloomberg) -- Japan's 10-year government bonds fell the most since April 4 as a rally in local stocks sapped demand for the relative safety of debt.
Yields on 10-year bonds climbed to the highest in a week as shares of exporters such as Toyota Motor Corp. rose on speculation a weakening yen will boost profit. The spread between yields on two-year notes and 30-year bonds held near the widest in six weeks as traders prepared for the 600 billion yen ($5.04 billion) sale of Japan's longest-maturity debt tomorrow.
Read more at Bloomberg Bonds News
Yields on 10-year bonds climbed to the highest in a week as shares of exporters such as Toyota Motor Corp. rose on speculation a weakening yen will boost profit. The spread between yields on two-year notes and 30-year bonds held near the widest in six weeks as traders prepared for the 600 billion yen ($5.04 billion) sale of Japan's longest-maturity debt tomorrow.
Read more at Bloomberg Bonds News
Japan Q2 ferro-chrome at record high of 90 cents
(Reuters) - The term price for ferro-chrome to Japan for April-June rose by 8.4 percent to a record high of 90 cents a pound from the previous quarter due to tight supply conditions, a Japanese company official said on Monday.
The official at Nippon Steel & Sumikin Stainless Steel Corp. (NSSC) said the price was agreed between Samancor Chrome and several other South African miners.
Read more at Reuters Africa
The official at Nippon Steel & Sumikin Stainless Steel Corp. (NSSC) said the price was agreed between Samancor Chrome and several other South African miners.
Read more at Reuters Africa
Supply worries lift Shanghai copper 2.5 percent
(Reuters) - Shanghai copper opened 2.5 percent higher on Monday, supported by potential supply problems in Indonesia and Argentina and gains in London futures.
Shanghai's most active July contract was up 2.5 percent or 1,760 yuan at 73,100 yuan a tonne at 0125 GMT.
Read more at Reuters Africa
Shanghai's most active July contract was up 2.5 percent or 1,760 yuan at 73,100 yuan a tonne at 0125 GMT.
Read more at Reuters Africa
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