European Stocks May Fall on Bond Yields; Deutsche Bank, Suez May Decline

(Bloomberg) -- European stocks may drop, following
U.S. and Asian markets lower, on concern rising bond yields will
undermine profit growth and erode demand for equities.

Deutsche Bank AG, Credit Suisse Group and Suez SA will
probably fall after their U.S.-traded securities ended lower than
the close in Europe. Barclays Plc may be active after the
Financial Times reported the U.K. bank has prepared a contingency
plan for its all-share bid for ABN Amro Holding NV.


Read more at Bloomberg Stocks News

Treasuries Rebound as Asian Investors See Slower U.S. Growth, Inflation

(Bloomberg) -- U.S. Treasuries rebounded as some
Asian investors said benchmark yields at a five-year high are
attractive given the outlook for a slowdown in U.S. economic
growth and inflation.

``We don't have any concern about inflation risk,'' said
Masataka Horii, a manager for the $46 billion Kokusai Global
Sovereign Open fund in Tokyo, the world's second-biggest bond
fund. ``The U.S. economy will slow in the future so we should
stay in this market. The housing sector has already slowed down
and rising yields will hurt it again.''


Read more at Bloomberg Bonds News

New Zealand to Intervene on Trade-Weighted Index Gain, ANZ National Says

(Bloomberg) -- New Zealand's central bank will sell
its currency again should it climb 1 percent against the
currencies of its trading partners, ANZ National Bank Ltd. said.

The Reserve Bank of New Zealand intervened on June 11 as
the trade-weighted index, which measures the local dollar
against the currencies of its five largest trading partners,
reached 74.48, the highest since December 2006. The index fell
1.8 percent after the central bank attempted to cap gains it
said were ``unjustified.''


Read more at Bloomberg Currencies News

Australian Shares Fall on Higher Yields, Lower Metals; BHP, Banks Retreat

(Bloomberg) -- Australian stocks dropped, following
declines in markets globally after bond yields gained, increasing
speculation higher borrowing costs will curb growth in the world's
largest economies.

Australia & New Zealand Banking Group Ltd. led declines among
the nation's biggest companies after the yield on the government's
10-year bond jumped, making dividends relatively less attractive.
BHP Billiton Ltd. led a slide among mining companies as metals
prices fell.


Read more at Bloomberg Stocks News

Braskem, Medica Sur, Petrobras, Wal-Mart de Mexico: Latin Equity Preview

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

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


Read more at Bloomberg Stocks News

Corn Falls After U.S. Government Reports Little Damage to Crops in Midwest

(Bloomberg) -- Corn fell from a five-week high in
Chicago on speculation dry weather in the Midwest hasn't caused
irreversible damage to the biggest U.S. crop.

About 77 percent of the corn crop was rated good or
excellent on June 10, compared with 78 percent the previous week
and 70 percent a year earlier, the U.S. Department of
Agriculture said yesterday. Rains may fall on dry fields east of
the Mississippi River starting June 18, the National Weather
Service said.


Read more at Bloomberg Commodities News

Zambia May Get Debt Rating in Three Months, Central Bank Governor Says

(Bloomberg) -- Zambia, Africa's largest copper
producer, may get a credit rating within three months, enabling
the government and private companies to sell bonds to
international investors, the central bank governor said.

``It will be before the end of the year, that's for sure,''
Caleb Fundanga, the Governor of the Bank of Zambia, said in a
telephone interview from Lusaka yesterday. ``It may even be
before the end of the third quarter.''


Read more at Bloomberg Bonds News

Remgro buys 7.8 mln shares in target Rainbow

(Reuters) - South African investment firm Remgro said on Tuesday a subsidiary had bought 7.775 million shares at 16 rand a share in takeover target Rainbow Chicken.

Before the purchase, Remgro owned 62 percent of poultry producer Rainbow and had made an initial offer of 16 rand in cash or nine of its shares for every 100 Rainbow shares held by investors to acquire the remaining 38 percent.


Read more at Reuters Africa

Ameren says Missouri regulator's staff seeks probe

(Reuters) - The staff of the Missouri Public Service Commission last
week brought a motion asking regulators to open an
investigation to determine whether Ameren's Missouri utility's
electric plant and operational practices are safe and adequate
in light of the Taum Sauk incident, according to the company's
filing with the U.S. Securities and Exchange Commission.




Ameren said it intended to file a response opposing this
motion.


Read more at Reuters.com Market News

Robusta Coffee Declines in London on Signs Earlier Rally Was Overdone

(Bloomberg) -- Robusta coffee futures fell in
London on speculation a rally that took the beans to the highest
in more than eight years was overdone.

Robusta's 14-day relative strength index, used by traders
to measure the momentum of price movements, was at 77.6 earlier
today and at 80.5 yesterday. A reading higher than 70 typically
signals prices will drop. Coffee futures traded at $1,918 a
metric ton in London earlier today, the highest since Dec. 8,
1998, on speculation supply may fall short of global demand.


Read more at Bloomberg Commodities News

U.S. Treasuries Slide as Investors Abandon Bets Fed to Cut Interest Rates

(Bloomberg) -- U.S. Treasuries declined for a second
day as investors abandoned wagers that the Federal Reserve will
cut interest rates this year.

Benchmark 10-year notes have dropped this month, pushing
yields up more than 30 basis points on speculation global growth
will spur central banks to raise borrowing costs. Bonds extended
declines on speculation investors in mortgage-backed securities
sold Treasuries they had used as a hedge against falling rates.


Read more at Bloomberg Bonds News

Emirates Islamic Bank Raises $350 Million From Its First Sale of Sukuk

(Bloomberg) -- Emirates Islamic Bank PJSC, the
Shariah-compliant unit of Emirates Bank International PJSC,
raised $350 million from its first issue of Islamic bonds known
as sukuk.

Investors from Asia and Europe bought a combined 72 percent
of the five-year bonds, which pay a profit rate equivalent to 0.3
percentage points more than the London interbank offered rate,
Dubai-based Emirates Islamic said in an e-mailed statement today.


Read more at Bloomberg Bonds News

Nickel drops some 5 percent, copper down on China

(Reuters) - Nickel dropped by over five percent on Tuesday and copper shed more than one percent as Chinese imports fell in May, analysts said.

Nickel for delivery in three months on the London Metal Exchange (LME) fell by 5.6 percent to hit $40,100 a tonne in early trade. By 1032 GMT it was indicated at $40,500/40,700 down by $2,000 against Monday's close.


Read more at Reuters Africa

ComScore sees IPO of 5 mln shares at $14-$16 each

(Reuters) - The Reston, Virginia-based company said it applied for a
Nasdaq listing under the symbol "SCOR."





Read more at Reuters.com Bonds News

Slip in Europe as inflation, rate woes gnaw

(Reuters) - A stream of sturdy economic data also convinced investors that the Federal Reserve would refrain from cutting interest rates in the foreseeable future.




"I don't think one could argue the state of the bond markets is stable as yet so we are still seeing the general uncertainty on global inflation, with fuel prices in particular, and central bank uncertainty that's still prevailing sentiment at this moment in time," said Andre de Silva, global deputy head of bond strategy at HSBC in London.


Read more at Reuters.com Hot Stocks News

Vattenfall Cuts Power Capacity at Ringhals-4 Reactor in Sweden After Leak

(Bloomberg) -- Vattenfall AB, the Nordic region's
biggest utility, reduced power capacity at its Ringhals-4
nuclear reactor because of leakage in a generator, the company
said in a statement to the Nord Pool ASA power exchange.

The reduction began at 1:52 a.m. local time and capacity
was cut by half to 453 megawatts, Vattenfall said. The duration
of the failure is unknown, it said.


Read more at Bloomberg Energy News

China's Stocks Gain, Erasing Losses in Volatile Trade, as Savings Pour In

(Bloomberg) -- China's stocks rose for a sixth
straight day, erasing earlier losses, as investors shrugged off
concern that accelerating inflation will trigger further
increases in interest rates.

Shanghai Automotive Co., China's largest carmaker, and 19
other stocks on the index rose by the 10 percent daily limit.
Jiangxi Copper Co. jumped on concern that possible strikes at
mines in Chile, the world's largest source of the metal, and
Mexico will cause further gains in the price of copper.


Read more at Bloomberg Stocks News

U.K. FTSE 100 Index Erases Losses, Led by Rolls-Royce; ICI Shares Climb

(Bloomberg) -- U.K. stocks erased earlier losses,
paced by Rolls-Royce Group Plc, Imperial Chemical Industries Plc
and Johnson Matthey Plc.

The benchmark FTSE 100 Index gained 6.10, or 0.1 percent, to
6573.60 in London at 9:14 a.m. The FTSE All-Share Index added
2.89, or 0.1 percent, to 3396.83. Ireland's ISEQ Index rose 3.67
to 9482.28.


Read more at Bloomberg Stocks News

Hungarian Inflation Slows, Signaling Central Bank May Cut Interest Rates

(Bloomberg) -- Hungary's inflation rate fell for a
second month in May, giving central bankers more room to cut its
benchmark interest rate, the highest in the European Union.

The annual rate declined to 8.5 percent from 8.8 percent in
April, topping the 8.3 percent median forecast of nine economists
surveyed by Bloomberg. Prices rose 0.8 percent from April, while
the core inflation rate, excluding volatile food and energy costs,
was 0.2 percent for the month and 5.7 percent for the year.


Read more at Bloomberg Emerging Markets News

Mitsui, Marubeni agree to consolidate LPG business

(Reuters) - Mitsui and Marubeni, the second and fifth-biggest trading
companies, said they aim to consolidate wholesale LPG operations
in April 2008 and their distribution networks in April 2009 to
cut costs and survive competition.




The two firms plan to sign the agreement in October.


Read more at Reuters.com Mergers News

UPDATE 1-Arcelor Mittal says to buy back 27 mln shares

(Reuters) - Arcelor Mittal said the new buy-back program was designed to
offset the 27 million shares it will issue to acquire the shares
it does not already own in the unit.




The steel group said it would launch the buy-back program
immediately after the completion of another existing $590
million buy-back program.


Read more at Reuters.com Mergers News