European Airlines, Auto Stocks May Decline; Tesco May Slide on Sales

(Bloomberg) -- European airline and auto-related
stocks may drop as crude oil traded near a nine-month high.
British Airways Plc and Michelin & Cie., the world's second-
largest tiremaker, may decline.

Imperial Chemical Industries Plc may pace advancing shares on
speculation Akzo Nobel NV will raise its bid for the U.K. chemical
company. Bouygues SA may climb after Credit Suisse Group raised its
estimate for the construction company's stock by 40 percent. Tesco
Plc may drop after the retailer reported sales that missed
analysts' estimates.


Read more at Bloomberg Stocks News

Nigerian government offers concessions to unions

(Reuters) - The Nigerian government has offered to reduce fuel prices and value-added tax as concessions to unions to avert a strike they have planned for Wednesday, a presidency source said on Monday.

Unions called an indefinite strike in the world's eighth largest oil exporter after the expiry of their ultimatum to the government to reverse a 10 naira (8 U.S. cents) per litre increase in fuel prices, a doubling of VAT and the privatisation of two oil refineries. They also demanded that a public sector pay rise be backdated to January 1.


Read more at Reuters Africa

BHP eyeing rival bid for Alcan: sources

(Reuters) - The emergence of BHP as a possible white knight in the face of Alcoa Inc.'s hostile offer for Alcan came as Alcoa's stock hit a six-year high on a report that the U.S. aluminum company, and not its Canadian rival Alcan, was a target of BHP. Alcoa stock eased to close less than 1 percent higher.




The sources told Reuters that BHP, which trades in Australia and London, has hired Merrill Lynch to explore the possibility of buying Alcan, but stressed that such a move is not definite.


Read more at Reuters.com Business News

Australia's S&P/ASX 200 Gains; Woodside Petroleum Climbs on Report of Bid

(Bloomberg) -- Australia's S&P/ASX 200 Index reversed
an earlier decline. Woodside Petroleum Ltd. rose on a report its 34
percent shareholder Royal Dutch Shell Plc may bid for the company.

U.S.-linked building companies fell, led by James Hardie
Industries NV, after a report showed confidence in the U.S.
homebuilding industry dropped this month to the lowest in 16 years.


Read more at Bloomberg Stocks News

China's Stocks Drop From a Record; Citic Securities, Daqin Railway Fall

(Bloomberg) -- China's stock index fell from a
record on concern new share sales of two commercial banks will
divert capital from existing equities. Citic Securities Co.
declined.

``Investor sentiment has been stifled by the prospect of a
diversion of liquidity from the market,'' said Yan Ji, an
investment manager at HSBC Jintrust Fund Management Co. in
Shanghai, which manages about $517 million.


Read more at Bloomberg Stocks News

Verizon executive says HD video on demand in works

(Reuters) - The FiOS service already includes multiple high-definition channels and video on demand, and Verizon Chief Technology Officer Mark Wegleitner said it was almost ready to launch a combination of the two features.




"I don't think there are technical obstacles," Wegleitner told reporters late on Monday in Chicago, on the sidelines of the NXTcomm communications conference. "The network could support it now."


Read more at Reuters.com Business News

Japan's Topix Falls on Oil; Transport Stocks Drop, Daiichi Sankyo Jumps

(Bloomberg) -- Japan's Topix index fell from the
highest in more than three months after the price of oil rose to
almost $70 a barrel for the first time since September, raising
costs for transportation companies.

Mitsui O.S.K. Lines Ltd. fell for the eighth time in nine
days and Mitsubishi Logistics Corp. dropped the most in seven
sessions. Measures of shipping line and warehouse and transport
stocks were the two worst performers among the 33 industry
groups included in the Topix index.


Read more at Bloomberg Stocks News

TREASURIES-Hold gains in Asia after soft housing data

(Reuters) - Treasuries may have more room to rise in the near term, said
Yasutoshi Nagai, chief economist for Daiwa Securities SMBC,
adding that last week's sell-off was probably a bit overdone.




"I wouldn't be surprised if the 10-year yield dips to around
5.0 percent in the near term," Nagai said.


Read more at Reuters.com Bonds News

Oil Trades Near Nine-Month High on Possible Disruption to Nigeria Output

(Bloomberg) -- Crude oil was little changed in New
York after rising to a nine-month high yesterday as attacks on
pumping stations in Nigeria underlined the risks to output in
Africa's biggest oil producer.

Chevron Corp. and Eni SpA yesterday reported attacks on
facilities in the West African nation, where the two main oil
unions plan to join an indefinite general strike. Workers have
been directed to take the broadest measures ever and oil output
will be affected, a senior union official said yesterday.


Read more at Bloomberg Commodities News

St. George Bank, ANZ Bank, Credit Union, Multiplex: Australia Bond Alert

(Bloomberg) -- The following is a list of bond sales
expected in the coming days and weeks.

Asset-Backed Bonds


Read more at Bloomberg Bonds News

UPDATE 2-BHP eyeing rival bid for Alcan - sources

(Reuters) - MELBOURNE/NEW YORK, June 19 - The world's largest
mining group, BHP Billiton Ltd. , is considering a
rival bid for aluminum producer Alcan Inc. and has
hired an investment bank, sources familiar with the matter
said.




The emergence of BHP as a possible white knight in the face
of Alcoa Inc.'s $28.7 billion hostile offer for Alcan
came as Alcoa's stock hit a six-year high on a report that the
U.S. aluminum company, and not its Canadian rival Alcan, was a
target of BHP. Alcoa stock eased to close less than 1 percent
higher.


Read more at Reuters.com Mergers News

Japanese Yen, Philippine Peso, Malaysian Ringgit: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Reynolds American sells $1.55 bln debt in 3 parts - source

(Reuters) - Citigroup Global Markets, J.P. Morgan Securities, Lehman
Brothers and Morgan Stanley were the joint lead managers of
the sale, the source said.




Read more at Reuters.com Bonds News

Some top-rated subprime bonds downgraded by Moody's

(Reuters) - Moody's Investors Service on Friday downgraded 131 bonds
backed by "second-lien" or "piggyback" subprime mortgages,
which allow home buyers to borrow the cash needed for a down
payment, effectively putting no money down for a house.




The downgrades, which affected subprime loans made in 2006
to borrowers with patchy credit, included a small portion of
securities carrying Moody's highest "Aaa" rating.


Read more at Reuters.com Bonds News

Dice Holdings sets IPO at 16.7 mln shares, $11-$13

(Reuters) - Dice Holdings is planning to sell 6.7 million shares in the
offering, and stockholders are planning to sell an additional
10 million shares.




The company has been approved to list its stock on the New
York Stock Exchange under the symbol "DHX" .


Read more at Reuters.com Government Filings News

UPDATE 2-Trichet: Hedge funds not irrationaly exuberant

(Reuters) - Asked whether the highly-indebted investment instruments
represented the same sort of "irrational exuberance" described
by then-Federal Reserve chief Alan Greenspan regarding the
stock market in the 1990s, Trichet said: "I would not repeat
the words of Alan."




Trichet said he supported a hands-off mechanism of
self-regulation for such funds, which would allow them to
determine benchmarks for the industry without the coercion of
regulators.


Read more at Reuters.com Government Filings News

Options Traders Signal Euro Poised to Extend Rally Versus Yen on Rates

(Bloomberg) -- Options traders are growing more
bullish on the euro against the yen, suggesting the 13-nation
currency will extend its rally after touching a record high.

Investors are stepping up purchases of options giving the
right to bet on euro gains as they speculate European interest
rates are poised to rise while those in Japan hold steady.
Investors' appetite for a risky strategy known as the carry
trade, where they borrow in yen to buy euros, has also grown
since a report last week suggested U.S. inflation is cooling.


Read more at Bloomberg Currencies News

BHP Billiton to explore Alcan bid - sources

(Reuters) - BHP is one of a handful of mining companies that sources
familiar with the matter have said might be interested in
mounting a bid for Alcan, which has rejected the Alcoa offer.




BHP and Alcan were not immediately available for comment.
Merrill Lynch declined to comment.



Read more at Reuters.com Mergers News

Mexican stocks rise as investors await tax proposal

(Reuters) - The benchmark IPC stock index climbed 0.5 percent to
32,290 points, while the peso was flat in local
trading at 10.766 per dollar.




The benchmark 10-year government peso bond
gained 0.253 point in price to bid 102.365, pushing its yield
down 4 basis points to 7.62 percent.


Read more at Reuters.com Bonds News

Copper Is Little Changed in New York; Chilean Strikes May Disrupt Supplies

(Bloomberg) -- Copper was little changed in New
York after rising to a one-month high as miners threatened
strikes in Chile, the world's biggest source of the metal, and
other producing countries.

A union at Dona Ines de Collahuasi, Chile's third-largest
mine, may strike next month after owners Xstrata Plc and Anglo
American Plc refused to sweeten a wage offer, a labor leader
said today. Copper rose to a record $4.04 a pound in May 2006,
partly because of supply disruptions.


Read more at Bloomberg Commodities News

Bonds edge up on drop in housing index

(Reuters) - The weak reading could revive some hopes among bond investors for a Federal Reserve interest rate cut in the future, although few expect any easing of monetary policy before next year.




The National Association of Home Builders' housing market index dropped to 28 in June, the lowest level since February 1991 and below economists' median forecast for the reading to remain at May's level of 30. The sentiment gauge is seen as a proxy of future U.S. housing activity.


Read more at Reuters.com Bonds News

Ten-Year Treasury Yield Trades Near Five-Year High After Homebuilder Data

(Bloomberg) -- Treasuries were little changed, with
10-year yields near the highest in five years, on a sign of
continued weakness in the housing market.

The difference in yields between 10-year notes and two-year
notes narrowed as confidence among U.S. homebuilders fell this
month to its lowest since February 1991. A Commerce Department
report tomorrow is forecast by economists to signal housing
construction fell to a four-month low.


Read more at Bloomberg Bonds News

Rescue operations underway in flooded Texas town

(Reuters) - There were no immediate reports of casualties on Monday in the town of Gainesville which appeared to be struck by the worst of the flooding. But television footage showed dramatic images of families trapped on the rooftops of their homes as murky floodwaters roared past.




Several residents were seen being rescued by a front-end loader which carried them above the water in its bucket.


Read more at Reuters.com Bonds News

REFILE-TREASURIES-Bonds flat on weaker Bunds, profit-taking

(Reuters) - By Richard Leong




NEW YORK, June 18 - U.S. Treasury debt prices
were flat to lower on Monday, pressured by a downturn in euro
zone debt after a European Central Bank official warned of
stronger-than-expected inflation in the region.


Read more at Reuters.com Bonds News

France's CAC 40 Declines; Unibail, Air France, Sanofi Shares Lead Drop

(Bloomberg) -- French stocks slid after bond yields
in the U.S. advanced. Unibail SA, Air France-KLM Group and
Sanofi-Aventis SA dropped.

The CAC 40 Index declined 18.13, or 0.3 percent, to
6087.15. The SBF 120 Index also fell 0.3 percent.


Read more at Bloomberg Stocks News

UPDATE 1-Benihana Q4 earnings top market view, shares up

(Reuters) - The Miami, Florida-based operator of Japanese theme and
sushi restaurants earned $4.1 million, or 35 cents a share,
compared with $3.9 million, or 35 cents a share, in the
year-ago period.




Total revenue rose 17 percent to $71.6 million.


Read more at Reuters.com Market News

Volatile S.African shares end softer on BHP, Anglo

(Reuters) - Volatile South African shares see-sawed before closing weaker on Monday, undermined by index heavyweights BHP Billiton and Anglo American, which fell on the back of a firmer rand currency.

The market also tracked U.S. stocks, which were flat after earlier tracing the path of the Asian bourses, which ended up.


Read more at Reuters Africa

Genzyme cites mixed results for Renvela powder

(Reuters) - Genzyme, which is developing the drug, Renvela, in a powder form as well as a tablet, said that the three-times-a-day powder version met the main goal of a trial designed to show it works as well as three doses a day of the company's kidney disease drug Renagel.




However, a trial testing one dose of powdered Renvela against three doses of Renagel tablets was not as effective and did not meet the trial's main goal.


Read more at Reuters.com Hot Stocks News

Alcoa, Apple, Authorize.Net, Cadence, Labopharm, Lee: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges.
Stock symbols are in parentheses after company names. Shares
prices are as of 10:10 a.m. New York time.

Actelion Ltd. (ALIOF US) shares rose $3.74, or 8.8 percent,
to $46.45. A newly approved rival to its best-selling Tracleer
lung treatment may not be as big a threat as previously thought,
some analysts said. Gilead Sciences Inc. (GILD US) on June 15 won
U.S. approval for ambrisentan, which will compete with Tracleer
as a treatment for pulmonary arterial hypertension, a narrowing
of the arteries that causes shortness of breath and heart
failure. Gilead lost 44 cents to $80.39.


Read more at Bloomberg Stocks News

Freddie Mac sells $4.5 bln in bills

(Reuters) - Settlement is June 19.




Read more at Reuters.com Bonds News

Cemig, Embraer, Itau, Unibanco and Vale do Rio Doce: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for a
fourth day, led by mining company Cia. Vale do Rio Doce.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 301.59, or 0.6 percent, to a record 54,820.22 as of
9:36 a.m. New York time.


Read more at Bloomberg Stocks News

Oil Falls From Nine-Month High on Expectation of U.S. Gasoline Supply Gain

(Bloomberg) -- Crude oil fell from a nine-month high
in New York on expectations that U.S. fuel stockpiles increased.

Gasoline supplies rose 1.44 million barrels in the week
ended June 15, according to the median of 10 responses in a
Bloomberg News survey. Analysts were split over whether crude-oil
inventories rose or fell. Crude-oil prices often follow gasoline
during the driving season, which lasts from Memorial Day weekend
in late May to Labor Day in early September.


Read more at Bloomberg Energy News

3M, Alcoa, Genesco, Encysive, Labopharm, Nvidia: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes on U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed two days ago. Stock symbols are in parentheses after
company names. Shares prices are as of 9 a.m. New York time.

Actelion Ltd. (ALIOF US) shares rose $1.25, or 2.7 percent,
to $47.70 in regular trading in Germany. A newly approved rival
to its best-selling Tracleer lung treatment may not be as big a
threat as previously thought, some analysts said. Gilead Sciences
Inc. (GILD US) on June 15 won U.S. approval for ambrisentan,
which will compete with Tracleer as a treatment for pulmonary
arterial hypertension, a narrowing of the arteries that causes
shortness of breath and heart failure.


Read more at Bloomberg Stocks News

Pollution Permits to Increase European Power Bills as E.ON, Goldman Profit

(Bloomberg) -- Pollution permits, the biggest money-
loser for commodity investors this year, are poised for a rebound
that may spark a 10 percent jump in electricity costs for the 260
million consumers from London to Bucharest.

Prices for allowances that give utilities and factories the
right to pump a ton of carbon dioxide into the atmosphere will
climb 20 percent in the next 12 months, according to Lueder
Schumacher, an analyst at Dresdner Kleinwort in London. The
reason: Governments are handing out fewer certificates in the
three-year program.


Read more at Bloomberg Energy News

Parmalat settles 72 mln euros in claims with banks

(Reuters) - MILAN, June 18 - Italian dairy group Parmalat has settled claims with three banks including Merrill Lynch for a total of 72 million euros , bringing to a close some of the lawsuits linked to its 2003 collapse under massive debt.



Parmalat , which has since restructured and relisted on the Milan bourse, said in a statement on Monday it had settled all outstanding damage claims with Merrill Lynch for 29 million euros.


Read more at Reuters.com Bonds News

Wall Street's profit undertow: drugs and anxiety

(Reuters) - While record bonuses make some Wall Street bankers feel invincible, others become emotional wrecks from pressure to perform and some hit rock bottom, experts say.




Harris Stratyner, a psychologist at Caron's New York Recovery Center, said some executives he treats are experimenting with cocaine, opiate-based drugs, Ecstasy and marijuana, as well as abusing alcohol.


Read more at Reuters.com Bonds News

Salix says higher dose of bowel drug effective

(Reuters) - Salix already markets Colazal, also known as balsalazide,
in 750 mg strength.





Read more at Reuters.com Government Filings News

Yen Drops to Record Low Versus Euro as European Yields Attract Investors

(Bloomberg) -- The yen weakened to a record low
against the euro as the extra yield investors earn on European
bonds over Japanese notes widened to the most in five years.

Japan's currency also reached a 15-year low against the
Australian dollar and a 19-year low against the New Zealand
dollar, paring gains made after traders said the Reserve Bank of
New Zealand intervened. The yield difference, or spread, between
two-year German and Japanese debt expanded to the most since
August 2002, boosting the appeal of euro-denominated assets.
Japan has the lowest interest rates of any major economy.


Read more at Bloomberg Currencies News

European Stocks Pare Gains as Shares of Pearson, Siemens, Telefonica Fall

(Bloomberg) -- European stocks pared gains as shares
of Pearson Plc, Siemens AG and Telefonica SA declined.

The Stoxx 600 was little changed, slipping less than 0.1
percent to 399.04 as of 10:54 a.m. in London after gaining as
much as 0.3 percent. The Stoxx 50 lost 0.2 percent, as did the
Euro Stoxx 50, a measure for the nations sharing the euro.


Read more at Bloomberg Stocks News

Swiss Franc Declines to Record Versus Euro as Rate Gap Spurs Carry Trades

(Bloomberg) -- The Swiss franc dropped to a record
low versus the euro as speculation Switzerland's policy makers
will lag behind the European Central Bank in raising interest
rates prompted investors to pursue so-called carry trades.

The franc fell with the yen as investors favored higher
yielding currencies from the New Zealand dollar to the South
African rand. The currency used by 13 European nations benefited
as investors borrowed in francs to fund investments in the higher
yielding euro, which last week had the biggest weekly gain versus
the yen since the start of April.


Read more at Bloomberg Currencies News

U.S. Stock-Index Futures Gain on Acquisitions; Alcoa, Gilead Shares Gain

(Bloomberg) -- U.S. stock-index futures rose after a
report that BHP Billiton Ltd., the world's largest mining
company, may consider buying Alcoa Inc., the biggest aluminum
maker.

Shares of Alcoa jumped in Europe after the London-based
Times said BHP may consider a $40 billion takeover. Chicago Board
of Trade Shares may move. The Chicago Mercantile Exchange and
Intercontinental Exchange Inc. told the bourse's shareholders
they may sweeten their respective offers for the second-largest
U.S. futures market.


Read more at Bloomberg Stocks News

BOJ report revises up view on hi-tech sector

(Reuters) - The BOJ issued the broad outline of its monthly report on
Friday.




In its previous monthly report, the central bank said
adjustments in the hi-tech sector are unlikely to spread to
other sectors.


Read more at Reuters.com Economic News

U.K. FTSE 100 Index Rises, Paced by ICI, Prudential Shares; Vodafone Drops

(Bloomberg) -- U.K. stocks advanced, led by Imperial
Chemicals Industries Plc. The U.K. maker of Dulux and Glidden
paints rejected a 7.2 billion-pound ($14.2 billion) bid from Akzo
Nobel NV of the Netherlands as too low.

Shares of Prudential Plc also advanced. Vodafone Group Plc
fell after gaining for three straight days.


Read more at Bloomberg Stocks News

Czech Retail Sales Gained 8.1 Percent in April, Suggesting Rates May Rise

(Bloomberg) -- Czech retail sales in April grew 8.1
percent, underpinning expectations borrowing costs may be raised
for a second time this year as soon as next month.

Sales, including cars and motor fuels, rose from a year ago
after a record 10.5 percent in March, the Prague-based
statistics office said on its Web site today. The figure was
less than a median estimate of 10 percent by 11 economists in a
Bloomberg survey.


Read more at Bloomberg Emerging Markets News

BofA private bank to get US Trust name-NYT

(Reuters) - Using U.S. Trust's name in its branding campaign may help Bank of America overcome its middle-class image among high-net worth clients, according to the Times report.




Bank of America did not immediately return a call seeking comment.


Read more at Reuters.com Mergers News