(Bloomberg) -- PT Arpeni Pratama Ocean Line, Indonesia's largest coal transporter, plans to spend as much as $350 million to buy ships, as construction of power plants boosts demand for the fuel in Southeast Asia's largest economy.
Arpeni plans to buy eight of the so-called Panamax class vessels by 2009 to double the number it currently owns, Oentoro Surya, president director of the Jakarta, Indonesia-based company, said in an interview. Arpeni may fund the purchase with bank loans and proceeds of last year's $160 million share sale, Surya said April 26.
Read more at Bloomberg Emerging Markets News
Monday, April 30, 2007
Indonesian Government Bonds Are Little Changed Ahead of Inflation Report
(Bloomberg) -- Indonesian 10-year bonds and the rupiah were little changed before the release of an inflation report and results of a government debt swap.
The Central Statistics Bureau will announce inflation figures for April at about 1:30 p.m. local time. The finance ministry will today swap treasury bonds maturing in 2008 to 2012 with debt maturing in July 2022.
Read more at Bloomberg Bonds News
The Central Statistics Bureau will announce inflation figures for April at about 1:30 p.m. local time. The finance ministry will today swap treasury bonds maturing in 2008 to 2012 with debt maturing in July 2022.
Read more at Bloomberg Bonds News
U.K. Pound May Gain on Expectations Higher Rates Needed to Curb Inflation
(Bloomberg) -- The U.K. pound may gain on expectations the Bank of England will have to keep raising interest rates to curb above-target inflation.
The currency snapped a four-day losing streak against the euro yesterday as a report showed inflation will exceed the Bank of England's target for another year. The pound also rose as a separate report showed consumer confidence in Europe's second- largest economy gained this month.
Read more at Bloomberg Currencies News
The currency snapped a four-day losing streak against the euro yesterday as a report showed inflation will exceed the Bank of England's target for another year. The pound also rose as a separate report showed consumer confidence in Europe's second- largest economy gained this month.
Read more at Bloomberg Currencies News
Emaar, Du, Dubai Islamic, Shuaa, Union Properties: Gulf Equity Preview
(Bloomberg) -- The following stocks may rise or fall in the Persian Gulf monarchies today. Stock symbols are in parentheses and prices are from yesterday's close.
The Morgan Stanley Capital International GCC Countries Index added 0.7 percent to 563.48. Saudi Arabia's Tadawul advanced 0.7 percent. Kuwait's benchmark was little changed, gaining less than 0.1 percent, while in the United Arab Emirates Dubai's main index added 0.4 percent.
Read more at Bloomberg Stocks News
The Morgan Stanley Capital International GCC Countries Index added 0.7 percent to 563.48. Saudi Arabia's Tadawul advanced 0.7 percent. Kuwait's benchmark was little changed, gaining less than 0.1 percent, while in the United Arab Emirates Dubai's main index added 0.4 percent.
Read more at Bloomberg Stocks News
TPG eyes selling stake to pension funds -WSJ
(Reuters) - In addition to selling a stake, TPG is considering packaging some of its existing fund investments in a new public company, the paper reported.
TPG could not immediately be reached for comment.
Read more at Reuters.com Mergers News
TPG could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Indonesia's Stock Index Little Changed; United Tractors Falls, Timah Rises
(Bloomberg) -- Indonesia's key stock index was little changed. PT United Tractors and PT Global Mediacom fell after reporting first-quarter earnings declined. PT Timah and PT Bumi Resources climbed after saying profit surged.
The Jakarta Composite index lost 1.17, or 0.1 percent, to 1997.99 as of 10:46 a.m. local time. About three stocks rose for every two that fell.
Read more at Bloomberg Stocks News
The Jakarta Composite index lost 1.17, or 0.1 percent, to 1997.99 as of 10:46 a.m. local time. About three stocks rose for every two that fell.
Read more at Bloomberg Stocks News
Corn Rises in Chicago as U.S. Plantings Lag Behind Year Ago; Soybeans Fall
(Bloomberg) -- Corn futures rose in Chicago, reversing a three-day slump, after a report showed corn plantings this year lagged behind the five-year average.
About 23 percent of this year's U.S. corn crop was planted in the top 18 producing states, compared with 48 percent at the same time a year earlier, a U.S. Department of Agriculture report said yesterday. The delay, which also means farmers may increase soybean planting, pushed soybean prices lower.
Read more at Bloomberg Commodities News
About 23 percent of this year's U.S. corn crop was planted in the top 18 producing states, compared with 48 percent at the same time a year earlier, a U.S. Department of Agriculture report said yesterday. The delay, which also means farmers may increase soybean planting, pushed soybean prices lower.
Read more at Bloomberg Commodities News
Group accuses Wal-Mart of illegal anti-union tactics
(Reuters) - Wal-Mart, the largest private employer in the United States, has also refused to bargain collectively, fired employees it knows to be pro-union and focused security cameras on areas where union organizing is heaviest, according to the report.
Wal-Mart employs more than 1.3 million workers nationwide, none of which is in a union.
Read more at Reuters.com Business News
Wal-Mart employs more than 1.3 million workers nationwide, none of which is in a union.
Read more at Reuters.com Business News
UPDATE 5-Baffled by rate hike, Mexico govt cuts GDP forecast
(Reuters) - MEXICO CITY, April 30 - A surprise central bank interest rate hike just as Mexican inflation seemed to be easing has baffled even the government, which cut its economic growth estimate for the year to 3.3 percent on Monday.
Finance Minister Agustin Carstens told reporters on a trip to Ottawa that the central bank had jumped the gun on Friday by raising its overnight interest rate by 25 basis points in what it called a preemptive move against inflation.
Read more at Reuters.com Bonds News
Finance Minister Agustin Carstens told reporters on a trip to Ottawa that the central bank had jumped the gun on Friday by raising its overnight interest rate by 25 basis points in what it called a preemptive move against inflation.
Read more at Reuters.com Bonds News
Australian Oil Stocks Advance, Led by Santos; CSL, James Hardie Decline
(Bloomberg) -- Australian oil stocks rose, led by Santos Ltd. after the company said a state government will review its 15 percent limit on individual shareholdings in the company, potentially opening it to a takeover bid.
Companies that rely on global growth, such as CSL Ltd. and James Hardie Industries NV, fell after U.S. consumer spending slowed in March and construction spending eased.
Read more at Bloomberg Stocks News
Companies that rely on global growth, such as CSL Ltd. and James Hardie Industries NV, fell after U.S. consumer spending slowed in March and construction spending eased.
Read more at Bloomberg Stocks News
Former Asda chief eyes bid for CDR's Brakes--paper
(Reuters) - Comments were not immediately available from Norman, CVC or Cinven.
People familiar with the matter told Reuters in November that private equity firm Clayton Dubilier Rice was mulling the sale of its Brakes business in the second half of 2007 as it seeks to realise returns from older investments. The buyout firm bought the business in 2002 for 434 million pounds.
Read more at Reuters.com Mergers News
People familiar with the matter told Reuters in November that private equity firm Clayton Dubilier Rice was mulling the sale of its Brakes business in the second half of 2007 as it seeks to realise returns from older investments. The buyout firm bought the business in 2002 for 434 million pounds.
Read more at Reuters.com Mergers News
UPDATE 1-FMC Corp.'s first-quarter earnings climb
(Reuters) - The Philadelphia-based company posted quarterly net income of $45.8 million, or $1.17 a share, compared with $37.7 million, or 95 cents a share, in the year-ago period.
Excluding restructuring and other items, the company earned $1.83 per diluted share in the quarter, while revenue rose 13 percent to $674.1 million, FMC said.
Read more at Reuters.com Market News
Excluding restructuring and other items, the company earned $1.83 per diluted share in the quarter, while revenue rose 13 percent to $674.1 million, FMC said.
Read more at Reuters.com Market News
American Financial first-quarter profit rises
(Reuters) - The Cincinnati-based company posted first-quarter net earnings of $113.6 million, or 92 cents a share, compared with $101.5 million, or 85 cents a share in the year-ago quarter.
Core net operating earnings, which exclude items, rose 29 percent to 91 cents a share.
Read more at Reuters.com Market News
Core net operating earnings, which exclude items, rose 29 percent to 91 cents a share.
Read more at Reuters.com Market News
Dow Average May Advance 19 Percent in 2007, Barton Biggs of Traxis Says
(Bloomberg) -- Barton Biggs, managing partner of Traxis Partners LLC, said the Dow Jones Industrial Average may rise as much as 19 percent this year and argued that shares of the largest U.S. companies are ``very cheap'' relative to other asset classes.
``Markets in general are going higher, but I think large caps in particular -- particularly in the U.S. -- are going to do even better than the S&P 500 or a broader index of the market,'' said Biggs, 74, a former Morgan Stanley strategist who left to run the $1.84 billion hedge fund four years ago. Biggs spoke during an interview in New York.
Read more at Bloomberg Stocks News
``Markets in general are going higher, but I think large caps in particular -- particularly in the U.S. -- are going to do even better than the S&P 500 or a broader index of the market,'' said Biggs, 74, a former Morgan Stanley strategist who left to run the $1.84 billion hedge fund four years ago. Biggs spoke during an interview in New York.
Read more at Bloomberg Stocks News
Telecom Italia deal disappoints small investors
(Reuters) - By Mathias Wildt
MILAN, April 30 - Shares of Telecom Italia and Pirelli fell on Monday after Pirelli sold control of Italy's largest phone group to Italian investors and Spain's Telefonica at a premium to market prices -- but no offer to the public.
Read more at Reuters.com Bonds News
MILAN, April 30 - Shares of Telecom Italia and Pirelli fell on Monday after Pirelli sold control of Italy's largest phone group to Italian investors and Spain's Telefonica at a premium to market prices -- but no offer to the public.
Read more at Reuters.com Bonds News
U.S. Stocks Fall on Slowing Economy Concern; Target, Retailers Lead Drop
(Bloomberg) -- The U.S. stock market posted its third straight decline after slower growth in personal spending revived concern the economic expansion may falter and mitigated the best monthly advance since 2003.
Target Corp. and Home Depot Inc. led retailers to their steepest retreat in six weeks after the government's March data cast doubt over the consumer's ability to keep driving the economy. Hilton Hotels Corp. slumped the most in two months after predicting full-year profit will trail analysts' estimates.
Read more at Bloomberg Stocks News
Target Corp. and Home Depot Inc. led retailers to their steepest retreat in six weeks after the government's March data cast doubt over the consumer's ability to keep driving the economy. Hilton Hotels Corp. slumped the most in two months after predicting full-year profit will trail analysts' estimates.
Read more at Bloomberg Stocks News
US STOCKS-Indexes slip as investors sell off April's stars
(Reuters) - NEW YORK, April 30 - U.S. stocks slipped late in the session on Monday, as investors sought to secure profits from some of April's biggest gainers, as the best month for stocks in three years drew to a close.
Both the S&P and Nasdaq Composite were up almost 5 percent in April. The Dow is up more than 6 percent for the month, having extended gains after topping the 13,000 mark for the first time last Wednesday.
Read more at Reuters.com Bonds News
Both the S&P and Nasdaq Composite were up almost 5 percent in April. The Dow is up more than 6 percent for the month, having extended gains after topping the 13,000 mark for the first time last Wednesday.
Read more at Reuters.com Bonds News
Edison Mission Energy to sell $2.7 bln debt in 3 parts
(Reuters) - It also includes a 12-year senior note issue expected to yield between 0.125 and 0.25 percentage point over the 10-year notes and a 20-year senior note issue expected to yield about 7.625 percent.
The joint lead managers on the sale are Citigroup Global Markets, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers and Merrill Lynch.
Read more at Reuters.com Bonds News
The joint lead managers on the sale are Citigroup Global Markets, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers and Merrill Lynch.
Read more at Reuters.com Bonds News
Oil Is Steady Amid Concern U.S. Summer Gasoline Supply May Be Insufficient
(Bloomberg) -- Crude oil was little changed amid concern that gasoline supplies may be insufficient this summer after refineries shut units over the weekend.
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. Refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Energy News
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. Refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Energy News
UPDATE 1-Brazil should keep opening economy - Meirelles
(Reuters) - NEW YORK, April 30 - Brazil should keep opening its economy to trade and capital flows despite a recent decision to raise some import tariffs, central bank president Henrique Meirelles said on Monday.
"It's normal that Brazil tries, on one hand, to defend more vulnerable sectors from external competition as it is important that, on the other hand, we maintain a general level of openness," Meirelles told journalists after a presentation to investors in New York.
Read more at Reuters.com Bonds News
"It's normal that Brazil tries, on one hand, to defend more vulnerable sectors from external competition as it is important that, on the other hand, we maintain a general level of openness," Meirelles told journalists after a presentation to investors in New York.
Read more at Reuters.com Bonds News
Highland Financial, Buyer of Riskiest CDO Parts, Plans Initial Share Sale
(Bloomberg) -- Highland Financial Partners LP, a money manager that specializes in owning in the riskiest portions of structured debt securities, filed for an initial public offering of shares.
Highland Financial Partners mainly earns income by owning collateralized debt obligations managed by its Highland Capital Management LP affiliate, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas. Highland Financial is a holding company set up last year by Highland Capital.
Read more at Bloomberg Bonds News
Highland Financial Partners mainly earns income by owning collateralized debt obligations managed by its Highland Capital Management LP affiliate, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas. Highland Financial is a holding company set up last year by Highland Capital.
Read more at Bloomberg Bonds News
FirstCity Fin'l gets extension for annual report
(Reuters) - According to its third-quarter 2006 report, FirstCity had $213.5 million of assets as of Sept. 30 and one major reportable business: the acquisition of loans, real estate and other assets at a discount, with an intent to maximize their cash value. Quarterly revenue totaled $8.19 million, the report said.
FirstCity shares fell 12 cents, or 1.2 percent, to $9.63 in afternoon trading on the Nasdaq. Volume totaled 1,800 shares.
Read more at Reuters.com Bonds News
FirstCity shares fell 12 cents, or 1.2 percent, to $9.63 in afternoon trading on the Nasdaq. Volume totaled 1,800 shares.
Read more at Reuters.com Bonds News
Treasuries Gain Most in Two Weeks Amid Stability in Inflation During March
(Bloomberg) -- U.S. Treasuries rose the most in almost two weeks after the measure of inflation favored by Federal Reserve policy makers showed consumer prices excluding food and energy were stable in March.
The larger-than-forecast decline in inflation, as measured by the core personal consumption expenditures price index, bolstered the view that the Fed may cut interest rates this year after raising them 17 times between 2004 and 2006. Treasuries held their gains after an industry report showed business activity slowed more than forecast this month.
Read more at Bloomberg Bonds News
The larger-than-forecast decline in inflation, as measured by the core personal consumption expenditures price index, bolstered the view that the Fed may cut interest rates this year after raising them 17 times between 2004 and 2006. Treasuries held their gains after an industry report showed business activity slowed more than forecast this month.
Read more at Bloomberg Bonds News
UPDATE 2-Linamar mulls purchase of Ford Mexican unit
(Reuters) - The companies said the transaction is subject to due diligence, negotiation and approval of business terms.
No financial terms were disclosed.
Read more at Reuters.com Bonds News
No financial terms were disclosed.
Read more at Reuters.com Bonds News
UPDATE 1-Carstens says Mexico to trim GDP growth forecast
(Reuters) - "Probably today we will issue our quarterly report and there we are going to reduce our forecast," Carstens told reporters in Ottawa after a meeting with Canadian Finance Minister Jim Flaherty.
"If I'm right, we will reduce it from 3.6 percent to 3.3 percent," he said, citing a sharper than expected slowdown in the United States.
Read more at Reuters.com Bonds News
"If I'm right, we will reduce it from 3.6 percent to 3.3 percent," he said, citing a sharper than expected slowdown in the United States.
Read more at Reuters.com Bonds News
Blue chips rise, Dow sets another record
(Reuters) - The Dow Jones industrial average rose to a record for the fourth straight session on Monday on optimism about corporate profits and easing inflation concerns.
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters Africa
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters Africa
CDO Issuer Highland Financial Plans to Sell Shares in an Initial Offering
(Bloomberg) -- Highland Financial Partners LP, a holding company set up last year by investment manager Highland Capital Management LP, has filed for an initial public offering of shares.
Highland Financial mainly earns income by owning collateralized debt obligations managed by Highland Capital, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas.
Read more at Bloomberg Bonds News
Highland Financial mainly earns income by owning collateralized debt obligations managed by Highland Capital, according to a filing April 27 with the Securities and Exchange Commission. Highland Capital was founded in 1993 and manages more than $33 billion in assets, the filing said. Both companies are based in Dallas.
Read more at Bloomberg Bonds News
Euro Falls From Records Versus Yen, Dollar on Surprise German Retail Drop
(Bloomberg) -- The euro fell from historic highs against the yen and dollar on speculation a sign of German economic weakness will reduce incentive for the European Central Bank to increase borrowing costs.
The European currency declined as a government report showed retail sales in Europe's largest economy unexpectedly dropped in March after a tax increase in January. Futures traders hold record bets on gains in the euro, which some traders interpret as a sign the currency is peaking. Turkey's lira fell the most in two months after the military threatened to block the ruling party's presidential candidate.
Read more at Bloomberg Currencies News
The European currency declined as a government report showed retail sales in Europe's largest economy unexpectedly dropped in March after a tax increase in January. Futures traders hold record bets on gains in the euro, which some traders interpret as a sign the currency is peaking. Turkey's lira fell the most in two months after the military threatened to block the ruling party's presidential candidate.
Read more at Bloomberg Currencies News
Peru miners strike but potential impact unclear
(Reuters) - Unionized workers at the Yanacocha gold mine, Latin America's largest, said they would not participate in the walkout for now.
Miners at Antamina, the country's largest copper producer, do not belong to the federation and have said they will not strike either.
Read more at Reuters.com Bonds News
Miners at Antamina, the country's largest copper producer, do not belong to the federation and have said they will not strike either.
Read more at Reuters.com Bonds News
Chief WTO farm mediator says US, EU must move
(Reuters) - The chief mediator in troubled World Trade Organisation (WTO) farm talks on Monday said the United States would have to offer at least another 14 percent cut in subsidies to get a deal.
The European Union, also under pressure to make concessions in the WTO negotiations, would have to improve its offer on lowering import tariffs on farm goods, another politically highly sensitive part of the agenda, New Zealand's ambassador Crawford Falconer said.
Read more at Reuters Africa
The European Union, also under pressure to make concessions in the WTO negotiations, would have to improve its offer on lowering import tariffs on farm goods, another politically highly sensitive part of the agenda, New Zealand's ambassador Crawford Falconer said.
Read more at Reuters Africa
NAPM-Milwaukee purchasing index falls in April
(Reuters) - As recently as February the index had been at 58 and riding a 45-month string of expansion.
The index of the region's blue-collar employment was steady in April at 56, while white-collar employment was down 1 point, also at 56.
Read more at Reuters.com Economic News
The index of the region's blue-collar employment was steady in April at 56, while white-collar employment was down 1 point, also at 56.
Read more at Reuters.com Economic News
Intervest to buy back up to $10 mln class A stock
(Reuters) - The dividend is payable June 15 to shareholders of record as of June 1, the financial holding company said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
UPDATE 1-Pitney Bowes posts lower first-quarter profit
(Reuters) - Pitney, whose postage meters and document management machines, are a staple in corporate offices, posted first-quarter net income of $144.8 million, or 65 cents, compared with $153.5 million, or 67 cents a share, a year earlier.
Earnings from continuing operations were 66 cents a share. Analysts on average had expected a profit of 67 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Earnings from continuing operations were 66 cents a share. Analysts on average had expected a profit of 67 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Vishay Intertechnology quarterly profit rises
(Reuters) - For the second quarter, Vishay expects sales of $730 million to $750 million. This includes projected sales of $65 million to $70 million from the International Rectifier Power Control Systems business which it recently acquired.
Analysts on average expect revenue of $694.6 million for the second quarter.
Read more at Reuters.com Market News
Analysts on average expect revenue of $694.6 million for the second quarter.
Read more at Reuters.com Market News
UPDATE 1-Cross Match Technology files with to go public
(Reuters) - Cross Match plans to use the offering proceeds to repay debt and for working capital and other general corporate purposes, including research and development, it said in a filing with the U.S. Securities and Exchange Commission.
The filing did not reveal how many shares the company planned to sell in the offering or the expected price.
Read more at Reuters.com Government Filings News
The filing did not reveal how many shares the company planned to sell in the offering or the expected price.
Read more at Reuters.com Government Filings News
Euro Falls From Records Versus Yen, Dollar as Report Shows Retail Weakness
(Bloomberg) -- The euro fell from historic highs against the yen and dollar on concern a decline in German retail sales reduced incentive for the European Central Bank to increase borrowing costs.
``German retail numbers were horrid,'' said Boris Schlossberg, senior currency strategist in New York at DailyFX.com. ``They added to concern the ECB will stop at 4 percent unless the European consumer starts spending.
Read more at Bloomberg Currencies News
``German retail numbers were horrid,'' said Boris Schlossberg, senior currency strategist in New York at DailyFX.com. ``They added to concern the ECB will stop at 4 percent unless the European consumer starts spending.
Read more at Bloomberg Currencies News
US STOCKS-Wall St heads for flat opening; data on tap
(Reuters) - Stocks will also receive direction from a slew of data on personal income and consumption, the Federal Reserve's preferred inflation gauge, at 8:30 a.m. and the National Association of Purchasing Management-Chicago will report on Midwest business conditions at 9:45 a.m. .
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Bonds News
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Bonds News
Deutsche Boerse wants to buy ISE for $2.8 bln
(Reuters) - "The supervisory board of Deutsche Boerse AG, the supervisory board of SWX and the ISE Board of Directors shall decide on the transaction today," Deutsche Boerse said in a statement.
The deal would allow the Frankfurt stock exchange to expand into the fast-growing U.S. options trading market.
Read more at Reuters.com Business News
The deal would allow the Frankfurt stock exchange to expand into the fast-growing U.S. options trading market.
Read more at Reuters.com Business News
European Stocks Advance, Paced by Cable & Wireless, Skanska and Carlsberg
(Bloomberg) -- European stocks resumed an April rally on speculation takeovers will increase in the telecommunications industry and after analysts lifted their projection for construction company shares.
Cable & Wireless Plc had the largest gain in nine months after Britain's Observer newspaper reported the company might sell units. Skanska AB rallied as Deutsche Bank AG said shares of the building company should benefit from solid profit results. Carlsberg A/S rose as Dresdner Kleinwort said changes in the brewer's shareholder structure may allow it to buy rivals.
Read more at Bloomberg Stocks News
Cable & Wireless Plc had the largest gain in nine months after Britain's Observer newspaper reported the company might sell units. Skanska AB rallied as Deutsche Bank AG said shares of the building company should benefit from solid profit results. Carlsberg A/S rose as Dresdner Kleinwort said changes in the brewer's shareholder structure may allow it to buy rivals.
Read more at Bloomberg Stocks News
AstraZeneca, Shire, OAO Rosneft, JFC Group to Borrow: European Loan Alert
(Bloomberg) -- The following is a list of loans denominated in euros or pounds and expected to be syndicated in coming weeks and months.
Investment-Grade Loans
Read more at Bloomberg Bonds News
Investment-Grade Loans
Read more at Bloomberg Bonds News
Cocoa Drops to Two-Month Low in London as Ivory Coast Supply Increases
(Bloomberg) -- Cocoa dropped to a two-month low in London as consumers delayed purchases on speculation exports will increase from Ivory Coast, the world's biggest producer of the beans.
Arrivals of cocoa at Ivory Coast ports rose to 976,690 metric tons in October through April 22, from 969,757 tons a year earlier, Reuters reported today. There is a ``lack of industry buying,'' Stephanie Garner, a trader at Sucden (U.K.) Ltd. in London, said in an interview.
Read more at Bloomberg Commodities News
Arrivals of cocoa at Ivory Coast ports rose to 976,690 metric tons in October through April 22, from 969,757 tons a year earlier, Reuters reported today. There is a ``lack of industry buying,'' Stephanie Garner, a trader at Sucden (U.K.) Ltd. in London, said in an interview.
Read more at Bloomberg Commodities News
China stocks rise 2.2 pct as new listings sparkle
(Reuters) - Turnover in Shanghai A shares was very heavy at 184.1 billion yuan , up from Friday's 161.7 billion yuan.
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term.
Read more at Reuters.com Hot Stocks News
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Cemex plans euro perpetual debentures -lead
(Reuters) - The debt, to be sold via C10-EUR Capital Ltd, will be callable from June 30, 2017, the official said.
It is secured by a first-priority claim on dual-currency notes and extinguishable coupon swaps guaranteed by Cemex SAB de CV, New Sunward Holding BV and Cemex Mexico SA de CV. The structure is similar to that employed for a $750 million bond sale earlier this year, where the issuer was C8 Capital.
Read more at Reuters.com Mergers News
It is secured by a first-priority claim on dual-currency notes and extinguishable coupon swaps guaranteed by Cemex SAB de CV, New Sunward Holding BV and Cemex Mexico SA de CV. The structure is similar to that employed for a $750 million bond sale earlier this year, where the issuer was C8 Capital.
Read more at Reuters.com Mergers News
Euro zone M3 at 24-year high backs case for ECB hike
(Reuters) - Euro zone money supply growth accelerated again in March to reach a 24-year high, backing the case for further interest rate tightening.
European Central Bank figures on Monday showed annual growth in M3 money supply picked up to 10.9 percent in March, topping February's 10.0 percent and defying analysts' expectations for a decline.
Read more at Reuters Africa
European Central Bank figures on Monday showed annual growth in M3 money supply picked up to 10.9 percent in March, topping February's 10.0 percent and defying analysts' expectations for a decline.
Read more at Reuters Africa
China Stocks Rise, Completing Record Month; Angang Steel, Chalco Advance
(Bloomberg) -- China's stocks advanced to a high, completing a record month for the CSI 300 Index, after companies including Angang Steel Co. reported higher earnings and JPMorgan Chase & Co. raised its economic growth forecast for the nation.
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
European Government Bonds Gain; Stocks Drop Spurs Demand for Safer Assets
(Bloomberg) -- European 10-year government bonds advanced after a drop in Asian equity markets on global growth concerns stoked demand for fixed-income securities.
Benchmark 10-year bund yields fell from near the highest since August 2005. Stocks in Asia fell after China curbed bank lending and as data showed the U.S. economy grew less than expected. A report today showed sales at retailers in Germany unexpectedly fell in March.
Read more at Bloomberg Bonds News
Benchmark 10-year bund yields fell from near the highest since August 2005. Stocks in Asia fell after China curbed bank lending and as data showed the U.S. economy grew less than expected. A report today showed sales at retailers in Germany unexpectedly fell in March.
Read more at Bloomberg Bonds News
Ternium to take control of Grupo IMSA
(Reuters) - Ternium said the deal is expected to close in the third quarter.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Turkish Lira Plunges After Army Threatens to Block Presidential Candidate
(Bloomberg) -- Turkey's lira fell as much as 4 percent against the dollar after the military threatened to block the government's presidential candidate because of his Islamist past.
The lira was at 1.3882 to the dollar at 8:51 a.m., the start of trading in Istanbul today. The slide came after hundreds of thousands of people rallied in Istanbul yesterday to protest the candidacy of Foreign Minister Abdullah Gul, who came within 10 votes of winning the presidency in a parliamentary ballot April 27. He pledged to stand again in a second round of voting May 2.
Read more at Bloomberg Emerging Markets News
The lira was at 1.3882 to the dollar at 8:51 a.m., the start of trading in Istanbul today. The slide came after hundreds of thousands of people rallied in Istanbul yesterday to protest the candidacy of Foreign Minister Abdullah Gul, who came within 10 votes of winning the presidency in a parliamentary ballot April 27. He pledged to stand again in a second round of voting May 2.
Read more at Bloomberg Emerging Markets News
Gary-Williams Energy Says Oklahoma Refinery Is Shut After Last Week's Fire
(Bloomberg) -- Gary-Williams Energy Co.'s refinery in Wynnewood, Oklahoma, wasn't operating after a fire in two storage tanks was extinguished, a manager at the plant said.
The company may restart the facility on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding the plant, he said.
Read more at Bloomberg Energy News
The company may restart the facility on Tuesday, Mike Hancock, manager of administration for the refinery, said in a telephone interview. The plant was shut down April 27 about midnight because the fire was spreading to electric lines feeding the plant, he said.
Read more at Bloomberg Energy News
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