(Reuters) - "I don't see imposing a serious problem. I think it's going to be largely contained," he added.
Read more at Reuters.com Bonds News
Friday, April 20, 2007
Europe's Bond Trading System Will Draw Up Plan to Give Hedge Funds Access
(Bloomberg) -- A plan to allow hedge funds to join Europe's main government bond trading system will be drawn up by the board of MTS SpA, which operates the network.
MTS will vote on the proposals at its next board meeting, it said in a statement today. Man Group Plc, the world's largest hedge-fund manager, 3i Group Plc, Citadel Investment Group LLC and Vega Asset Management are among the firms who want to trade on MTS, which is currently restricted to banks.
Read more at Bloomberg Bonds News
MTS will vote on the proposals at its next board meeting, it said in a statement today. Man Group Plc, the world's largest hedge-fund manager, 3i Group Plc, Citadel Investment Group LLC and Vega Asset Management are among the firms who want to trade on MTS, which is currently restricted to banks.
Read more at Bloomberg Bonds News
US STOCKS-Shares rally as earnings beat estimates
(Reuters) - Dow component Caterpillar, a manufacturer of heavy construction and mining equipment, also raised its outlook and said growth outside North America was offsetting weakness in the U.S. housing and truck engine markets. For more see [ID:nN19299226].
A jump in crude oil prices boosted shares of energy companies including Exxon Mobil Corp. , aiding the rally.
Read more at Reuters.com Bonds News
A jump in crude oil prices boosted shares of energy companies including Exxon Mobil Corp. , aiding the rally.
Read more at Reuters.com Bonds News
Lifting the Lid: Tax concerns come to light in US earnings
(Reuters) - Now as the first-quarter earnings season gets under way, a new accounting rule, known as FIN 48, is giving investors a clearer picture than ever about what lurks in that second set of books.
With just a few companies adopting the rule so far, some have disclosed multimillion dollar charges to shareholder's equity -- or the book value of a company -- while others cautioned that changes in tax assumptions could affect their overall tax rate.
Read more at Reuters.com Market News
With just a few companies adopting the rule so far, some have disclosed multimillion dollar charges to shareholder's equity -- or the book value of a company -- while others cautioned that changes in tax assumptions could affect their overall tax rate.
Read more at Reuters.com Market News
Fed's Mishkin - current policy to lower inflation
(Reuters) - "However I continue to believe that the current stance of monetary policy is likely to foster sustainable economic expansion and a gradual ebbing in core inflation," he said. A text of his speech was distributed in Washington.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
European Government Bonds Post Weekly Gain as Investors Shun Risky Assets
(Bloomberg) -- European government bonds posted a weekly advance, snapping a four-week losing streak, as a decline in equity markets this week stoked demand for the safety of fixed income securities.
Benchmark 10-year bunds have risen this week as yields near their highest in more than 2 1/2 years lured investors exiting riskier assets. Debt also gained as the euro strengthened against the dollar for a fourth straight week stoking concern about growth in the $10.4 trillion euro-region economy.
Read more at Bloomberg Bonds News
Benchmark 10-year bunds have risen this week as yields near their highest in more than 2 1/2 years lured investors exiting riskier assets. Debt also gained as the euro strengthened against the dollar for a fourth straight week stoking concern about growth in the $10.4 trillion euro-region economy.
Read more at Bloomberg Bonds News
U.S. Treasury refunding queries show uncertainty
(Reuters) - "Given your assessments of budget projections and the economic outlook, please discuss the suitability of Treasury's current financing schedule given your expectations of financing needs going forward," the Treasury asks in the questionnaire.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Colombia's Suramericana says ups Inversura stake
(Reuters) - The remaining 19.5 percent of Inversura is owned by German reinsurance giant Munich Re , Suramericana said.
Suramericana is the holding company of Colombia's biggest conglomerate, Grupo Empresarial Antioqueno, or GEA.
Read more at Reuters.com Mergers News
Suramericana is the holding company of Colombia's biggest conglomerate, Grupo Empresarial Antioqueno, or GEA.
Read more at Reuters.com Mergers News
US STOCKS-Wall Street surges on strong earnings
(Reuters) - NEW YORK, April 20 - U.S. stocks rose on Friday, with the Dow closing in on 13,000 points, as investors welcomed strong earnings from companies such as Google Inc. and Caterpillar Inc. .
Higher oil prices, which boosted Exxon Mobil Corp. , also helped power the rally.
Read more at Reuters.com Bonds News
Higher oil prices, which boosted Exxon Mobil Corp. , also helped power the rally.
Read more at Reuters.com Bonds News
UPDATE 1-Triarc to sell asset manager for about $300 mln
(Reuters) - Triarc, which operates and franchises Arby's chain of restaurants, said it expects to receive about $170 million for its capital interest of about 64 percent and its profits interest of 52 percent in Deerfield.
Triarc expects to own in excess of 10 percent of Deerfield Triarc's common stock, it said in a statement.
Read more at Reuters.com Mergers News
Triarc expects to own in excess of 10 percent of Deerfield Triarc's common stock, it said in a statement.
Read more at Reuters.com Mergers News
UPDATE 1-Corus Bankshares Q4 misses estimates; shares fall
(Reuters) - Shares of the company were down more than 3 percent at $16.78 in morning trade on the Nasdaq after falling to a low of $15.88 earlier in the day.
The bank holding company said the results included a pre-tax security loss of $15.3 million related to a decline in value of an equity investment.
Read more at Reuters.com Market News
The bank holding company said the results included a pre-tax security loss of $15.3 million related to a decline in value of an equity investment.
Read more at Reuters.com Market News
Briefcase Bankers at JPMorgan, Citigroup Put Down Roots as Nigeria Blooms
(Bloomberg) -- Nigeria's briefcase bankers are finally putting down roots.
Investment bankers who until now had flown into Lagos to do deals then retreated to homes in New York or London are now opening offices in the country as record oil revenue, asset sales and a crackdown on corruption spur economic growth. Nigeria may overtake South Africa as the region's largest economy by 2020.
Read more at Bloomberg Exclusive News
Investment bankers who until now had flown into Lagos to do deals then retreated to homes in New York or London are now opening offices in the country as record oil revenue, asset sales and a crackdown on corruption spur economic growth. Nigeria may overtake South Africa as the region's largest economy by 2020.
Read more at Bloomberg Exclusive News
Canadian Stocks Gain, Led by Materials Shares; Barrick, Dynatec, BCE Rise
(Bloomberg) -- Canadian stocks rose, heading for a third weekly gain, on prospects of consolidation among commodity producers, after gold, copper and oil prices rose and Sherritt International Corp. said it will buy rival miner Dynatec Corp.
BCE Inc. rose on a report that a third group of investors may be planning a bid for Canada's biggest phone company. Financial shares advanced, led by Royal Bank of Canada.
Read more at Bloomberg Stocks News
BCE Inc. rose on a report that a third group of investors may be planning a bid for Canada's biggest phone company. Financial shares advanced, led by Royal Bank of Canada.
Read more at Bloomberg Stocks News
McDonald's sets Latin America sale, earnings up
(Reuters) - CHICAGO, April 20 - McDonald's Corp. reported higher first-quarter earnings on Friday on strong U.S. demand for its new chicken Snack Wrap and improved performance in international markets such as China, Japan, France and Russia.
The world's largest hamburger chain operator also said it has reached an agreement to franchise nearly 1,600 restaurants in Latin America and the Caribbean to an organization led by entrepreneur Woods Staton. McDonald's said it expected to receive about $700 million for the sale of the operations and will use the funds for dividends and share repurchases. The company now expects to pay out $5.7 billion for dividends and share repurchases in 2007 and 2008.
Read more at Reuters.com Bonds News
The world's largest hamburger chain operator also said it has reached an agreement to franchise nearly 1,600 restaurants in Latin America and the Caribbean to an organization led by entrepreneur Woods Staton. McDonald's said it expected to receive about $700 million for the sale of the operations and will use the funds for dividends and share repurchases. The company now expects to pay out $5.7 billion for dividends and share repurchases in 2007 and 2008.
Read more at Reuters.com Bonds News
Pound May Extend Rally After Reaching 26-Year High, Currency Options Show
(Bloomberg) -- The British pound's rally to the highest in 26 years may continue as options traders and money managers grow more bullish about the currency.
Options prices show traders are paying more for the right to buy pounds than to sell and the difference widened this week to the largest since Jan. 5. The premium on one-month pound calls over puts rose to 0.27 percent today from -0.2 on March 15. A positive number for the so-called risk-reversal rate indicates more demand for the right to buy the currency.
Read more at Bloomberg Exclusive News
Options prices show traders are paying more for the right to buy pounds than to sell and the difference widened this week to the largest since Jan. 5. The premium on one-month pound calls over puts rose to 0.27 percent today from -0.2 on March 15. A positive number for the so-called risk-reversal rate indicates more demand for the right to buy the currency.
Read more at Bloomberg Exclusive News
UPDATE 1-US FDA reviewers say Pfizer AIDS drug effective
(Reuters) - The Food and Drug Administration staff, however, said they would ask an advisory panel that meets Tuesday for advice "regarding the possible need for special labeling as well as whether additional clinical trials should be performed to address particular safety issues."
Maraviroc fights HIV differently from older medicines. It blocks the CCR5 co-receptor that serves as a main entry point for the virus into cells.
Read more at Reuters.com Government Filings News
Maraviroc fights HIV differently from older medicines. It blocks the CCR5 co-receptor that serves as a main entry point for the virus into cells.
Read more at Reuters.com Government Filings News
Pfizer cuts forecast, as generics cut deeper
(Reuters) - NEW YORK, April 20 - Pfizer Inc. said on Friday quarterly earnings fell on special charges, anemic sales of inhaled diabetes drug Exubera and plunging demand for drugs facing generic competition, sending shares down 2.5 percent.
The world's largest drugmaker said its 2007 earnings will be below Wall Street expectations due to the unexpectedly swift introduction of cheaper generic forms of its hypertension treatment Norvasc.
Read more at Reuters.com Market News
The world's largest drugmaker said its 2007 earnings will be below Wall Street expectations due to the unexpectedly swift introduction of cheaper generic forms of its hypertension treatment Norvasc.
Read more at Reuters.com Market News
U.S. Treasuries Head for Best Gain in Seven Weeks on Slower Core Inflation
(Bloomberg) -- U.S. 10-year Treasuries headed for the biggest weekly gain in seven on speculation slowing inflation will provide scope for the Federal Reserve to lower interest rates this year
Treasuries snapped a four-week run of losses as a government report on April 17 showed prices excluding energy and food rose less than economists forecast last month. Economic growth in the quarter ended March may be the slowest in more than a year, according to a Bloomberg News survey of economists.
Read more at Bloomberg Bonds News
Treasuries snapped a four-week run of losses as a government report on April 17 showed prices excluding energy and food rose less than economists forecast last month. Economic growth in the quarter ended March may be the slowest in more than a year, according to a Bloomberg News survey of economists.
Read more at Bloomberg Bonds News
UPDATE 1-Clear Channel to sell television group for $1.2 bln
(Reuters) - The sale comes as Clear Channel considers a nearly $19.5 billion private equity buyout offer for the company. Bidders Thomas H. Lee and Bain Capital raised their offer for the company earlier this week, though it is unclear whether it will persuade enough shareholders to support the deal.
Clear Channel will sell to Providence Equity 56 television stations located in 24 markets across the United States, as well as their related Internet sites and wireless projects. The deal is expected to close in the fourth quarter, subject to regulatory approval.
Read more at Reuters.com Bonds News
Clear Channel will sell to Providence Equity 56 television stations located in 24 markets across the United States, as well as their related Internet sites and wireless projects. The deal is expected to close in the fourth quarter, subject to regulatory approval.
Read more at Reuters.com Bonds News
Tunisia FDI jumps 72 pct in Q1 on services rise
(Reuters) - Foreign direct investment in Tunisia, which is eager to lure more foreign investors to create jobs, rose to 280.3 million dinars in the first quarter this year from 163 million dinars in the same period last year, official data showed on Friday
The increase of foreign investment flow was the highest in the services business totalling 54.4 million dinars versus just 4.6 million dinars in the previous year.
Read more at Reuters Africa
The increase of foreign investment flow was the highest in the services business totalling 54.4 million dinars versus just 4.6 million dinars in the previous year.
Read more at Reuters Africa
Localiza Rent a Car, Petrobras and 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.
Brazil
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
Bombardier, Corel, Encana, Groupe Laperriere, Moly: Canada Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed yesterday. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index fell 137.26, or 1 percent, to 13,574.70 yesterday in Toronto. The benchmark is little changed for the week.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 137.26, or 1 percent, to 13,574.70 yesterday in Toronto. The benchmark is little changed for the week.
Read more at Bloomberg Stocks News
Honeywell profit climbs on strong sales growth
(Reuters) - Revenue rose 11 percent.
The company has been boosted of late by strong demand from the aerospace sector -- particularly strong investment by foreign airlines -- and demand from the commercial construction sector in the U.S. and abroad, which has not experienced the downturn seen in the U.S. housing market.
Read more at Reuters.com Business News
The company has been boosted of late by strong demand from the aerospace sector -- particularly strong investment by foreign airlines -- and demand from the commercial construction sector in the U.S. and abroad, which has not experienced the downturn seen in the U.S. housing market.
Read more at Reuters.com Business News
UPDATE 1-Schlumberger profit rises, tops Wall Street view
(Reuters) - Profit rose to $1.18 billion, or 96 cents per share, from $723 million, or 59 cents a share, a year earlier.
Analysts on average expected earnings of 90 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average expected earnings of 90 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Micex Stock Market in Moscow Resumes Trading After Second Halt in Two Days
(Bloomberg) -- Trading on the Micex Stock Exchange, Russia's biggest by trading volume, was halted for about two hours today after a power disruption shut down its computer systems, the second glitch in two days.
Trading stopped at about 10:33 a.m. local time, three minutes after the market opened, Micex spokesman Vadim Egorov said. It resumed at about 12:41 p.m.
Read more at Bloomberg Emerging Markets News
Trading stopped at about 10:33 a.m. local time, three minutes after the market opened, Micex spokesman Vadim Egorov said. It resumed at about 12:41 p.m.
Read more at Bloomberg Emerging Markets News
UPDATE 1-BT buys Comsat to boost Latin American reach
(Reuters) - BT did not disclose the price it would pay for Virginia, U.S.-headquartered Comsat, but a source close to the company put the number at around 100 million pounds .
"This acquisition significantly enhances BT's position in the increasingly important Latin American market. It also underlines our commitment to providing world class services to our customers wherever they do business," said Francois Barrault, president of BT International.
Read more at Reuters.com Mergers News
"This acquisition significantly enhances BT's position in the increasingly important Latin American market. It also underlines our commitment to providing world class services to our customers wherever they do business," said Francois Barrault, president of BT International.
Read more at Reuters.com Mergers News
Stocks poised to rise after Google earnings
(Reuters) - The Dow Jones industrial average hit a record high on Thursday as robust earnings from major drug companies like Schering-Plough and Merck & Co. offset some of the pessimism growing over the potential for declining Chinese demand for U.S. imports.
U.S. stock futures suggested the major indexes could post a slight rise, underpinned in part by Google, which reported earnings that beat Wall Street's expectations and drove its share price up by over 3 percent after the closing bell.
Read more at Reuters.com Hot Stocks News
U.S. stock futures suggested the major indexes could post a slight rise, underpinned in part by Google, which reported earnings that beat Wall Street's expectations and drove its share price up by over 3 percent after the closing bell.
Read more at Reuters.com Hot Stocks News
China Mobile Q1 profit rises 22 pct on user growth
(Reuters) - China Mobile , which controls about two-thirds of the country's cellular market, earned 17.56 billion yuan in January-March, versus 14.36 billion yuan yuan a year ago, slightly above a forecast for 17.31 billion yuan by seven analysts surveyed by Reuters.
China, the world's largest telecoms market, had 467 million mobile subscribers at the end of January, official data showed.
Read more at Reuters.com Market News
China, the world's largest telecoms market, had 467 million mobile subscribers at the end of January, official data showed.
Read more at Reuters.com Market News
Britain's White Nile starts drilling in south Sudan
(Reuters) - British oil company White Nile has started drilling its first well in a disputed 67,000 square km (25,870 sq mile) concession in semi-autonomous south Sudan, a company official said on Friday.
French energy company Total SA disputes White Nile's contract with the south Sudan government, which has given the British company part of an oil exploration block that the central government had allocated to Total.
Read more at Reuters Africa
French energy company Total SA disputes White Nile's contract with the south Sudan government, which has given the British company part of an oil exploration block that the central government had allocated to Total.
Read more at Reuters Africa
Zambia c.bank unsure if '07 inflation target can be met
(Reuters) - Zambia's central bank governor said on Thursday he is unsure whether the country will succeed in meeting its five percent inflation target for 2007 because of high fuel and maize prices.
"We are committed to ensuring that we can get as close to five percent as possible," governor Caleb Fundanga told Reuters in an interview at a London conference. "Is this possible or not? I don't know."
Read more at Reuters Africa
"We are committed to ensuring that we can get as close to five percent as possible," governor Caleb Fundanga told Reuters in an interview at a London conference. "Is this possible or not? I don't know."
Read more at Reuters Africa
Shares up early as focus returns to results, M&A
(Reuters) - European shares rose in early trade on Friday, tracking Asian stocks higher and shaking off worries about Chinese interest rates as the focus moved back to corporate results and acquisition activity.
At 0718 GMT, the FTSEurofirst 300 was up 0.56 percent at 1,568.11 points, with major indexes in Britain, Germany and France all up between 0.5 and 0.6 percent.
Read more at Reuters Africa
At 0718 GMT, the FTSEurofirst 300 was up 0.56 percent at 1,568.11 points, with major indexes in Britain, Germany and France all up between 0.5 and 0.6 percent.
Read more at Reuters Africa
Siemens firm as chairman goes, good Q2 seen
(Reuters) -
FRANKFURT, April 20 - Shares in Siemens rose to near six-year highs on Friday after its supervisory board chairman quit over a string of scandals and a source said the company would present strong quarterly results next week.
Read more at Reuters.com Market News
FRANKFURT, April 20 - Shares in Siemens rose to near six-year highs on Friday after its supervisory board chairman quit over a string of scandals and a source said the company would present strong quarterly results next week.
Read more at Reuters.com Market News
Vodafone says happy with Verizon Wireless stake
(Reuters) - Shares in Vodafone, which rose as much as 2.5 percent in early trading on Friday on the sale speculation, were 1.9 percent up at 143 pence by 0755 GMT.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
European Stocks Rise on U.S., Asia Rebound; BHP Billiton, SAP Pace Gain
(Bloomberg) -- European stocks advanced for the first time in three days after a rebound in U.S. and Asian equities eased concern about a slump in global equities.
BHP Billiton Ltd. and Rio Tinto Group gained after copper prices rose in London. SAP AG climbed as the software maker reported higher earnings. Alliance Boots Plc advanced after Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina raised their bid for the pharmacy company.
Read more at Bloomberg Stocks News
BHP Billiton Ltd. and Rio Tinto Group gained after copper prices rose in London. SAP AG climbed as the software maker reported higher earnings. Alliance Boots Plc advanced after Kohlberg Kravis Roberts & Co. and Italian billionaire Stefano Pessina raised their bid for the pharmacy company.
Read more at Bloomberg Stocks News
Briefcase Bankers From JPMorgan, Citigroup Start Building Nigerian Roots
(Bloomberg) -- Nigeria's briefcase bankers are finally putting down roots.
Investment bankers who until now had flown into Lagos to do deals then retreated to homes in New York or London are now opening offices in the country as record oil revenue, asset sales and a crackdown on corruption spur economic growth. Nigeria may overtake South Africa as the region's largest economy by 2020.
Read more at Bloomberg Emerging Markets News
Investment bankers who until now had flown into Lagos to do deals then retreated to homes in New York or London are now opening offices in the country as record oil revenue, asset sales and a crackdown on corruption spur economic growth. Nigeria may overtake South Africa as the region's largest economy by 2020.
Read more at Bloomberg Emerging Markets News
Oil rises ahead of Nigeria vote, U.S. expiry
(Reuters) - But dealers were reluctant to sell heavily ahead of presidential elections in Nigeria on Saturday, with concerns over its validity as a democratic poll and the possible impact of an unclear outcome or violence on oil flows.
"Geopolitical tension in Nigeria ahead of elections could be supportive," said Makoto Takeda, assistant manager at Bansei Securities in Tokyo.
Read more at Reuters.com Hot Stocks News
"Geopolitical tension in Nigeria ahead of elections could be supportive," said Makoto Takeda, assistant manager at Bansei Securities in Tokyo.
Read more at Reuters.com Hot Stocks News
UPDATE 6-California towns lock schools; man turns self in
(Reuters) - YUBA CITY, California, April 19 - Teachers locked classroom doors, lowered shades and kept nearly 22,000 school children inside all day on Thursday in two northern California cities after a man threatened to go on a killing spree inspired by Monday's mass murder at Virginia Tech.
Police patrolled public schools in Yuba City and nearby Marysville 40 miles north of state capital Sacramento after Jeffery Thomas Carney allegedly said he intended to make the mass slaying at Virginia Tech "look mild."
Read more at Reuters.com Bonds News
Police patrolled public schools in Yuba City and nearby Marysville 40 miles north of state capital Sacramento after Jeffery Thomas Carney allegedly said he intended to make the mass slaying at Virginia Tech "look mild."
Read more at Reuters.com Bonds News
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