Alcatel-Lucent, Gaz de France, Steria May Move: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange. Stock symbols are in
parentheses and prices are from the last close.

The CAC 40 Index rose 64.64, or 1.1 percent, to 6006.316 in
Paris. The broader SBF 120 Index also gained 1.1 percent.


Read more at Bloomberg Stocks News

UPDATE 2-Seagate CEO sees Japan hard drive consolidation

(Reuters) - TOKYO, June 29 - The head of Seagate Technology
, the world's largest maker of hard disk drives, said
Western Digital Corp's acquisition of Komag Inc.
would likely spur consolidation among Japanese hard disk makers.




Hard disk drive maker and Seagate rival Western Digital has
agreed to buy Komag, maker of hard disks that go into hard disk
drives, for about $1 billion in cash [ID:nN28389449], taking a
step towards vertical integration of its storage business.


Read more at Reuters.com Mergers News

Siemens, Wacker Construction Equipment May Move: German Equity Preview

(Bloomberg) -- The following stocks may rise or
fall in German markets.

Germany's X-DAX Index was little changed at 7922.22. The
index provides an estimate of the DAX Index, based on trading in
DAX futures after the Xetra electronic market closes. The DAX
increased 1.5 percent to 7921.36 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

U.K. Chancellor Darling Inherits Fraying Economy With Predecessor Close By

(Bloomberg) -- Alistair Darling, Britain's new
chancellor of the exchequer, faces what may be the toughest task
in Prime Minister Gordon Brown's government: steering a fraying
economy with Brown looking over his shoulder.

Brown, who as chancellor oversaw the longest expansion in
two centuries, appointed the 53-year-old Darling as his
successor yesterday. Darling worked under Brown at the Treasury
in 1997, then ran the Departments of Trade and Industry and of
Work and Pensions for former Prime Minister Tony Blair.


Read more at Bloomberg Bonds News

TREASURIES-Sideways drift in Asia after Fed

(Reuters) - The emphasis on stubborn consumer prices was not accompanied
by any renewed concern over housing, despite the struggles of two
mortgage-related hedge funds this month.




Market hopes for a possible interest rate cut this year were
again dashed, pushing two-year note yields up on Thursday.


Read more at Reuters.com Bonds News

Asian Shares Climb for a Second Day on Earnings Outlook; Toyota Advances

(Bloomberg) -- Asian stocks climbed for a second day,
led by Sony Corp., after Japan's household spending rose and its
jobless rate stayed at a nine-year low, signaling strengthening
demand in the region's biggest economy.

Toyota Motor Corp. advanced to a three-month high as the yen
weakened and UBS AG and Goldman, Sachs & Co. said the outlook for
Japan's auto industry is improving. Japanese retailers gained
after the Nikkei newspaper said Seven & I Holdings Co. may report
higher operating profit.


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Japanese Bonds Head for Worst Quarter Since 2006 on Interest-Rate Outlook

(Bloomberg) -- Japan's government bonds rose,
heading for the biggest gain since March, on speculation
investors are buying the securities to match a monthly change in
a benchmark index.

Nomura Securities Co. will add debt including 10- and 20-
year bonds sold this month to its Bond Performance Index in July
and remove securities due in a year and less. Money managers
such as the Government Pension Investment Fund, which runs the
world's largest pool of retirement wealth, use the index to
decide on holdings. Bonds also advanced after a report today
showed consumer prices in Tokyo unexpectedly declined this month.


Read more at Bloomberg Bonds News

CORRECTED - UPDATE 1-Accenture profit up on consulting gains

(Reuters) - Net income for Accenture's fiscal third quarter ended May
31 climbed to $345.4 million, or 54 cents per share, from
$342.3 million, or 56 cents per share, a year earlier. Revenue
excluding reimbursements to clients advanced to $5.08 billion
from $4.41 billion.




Shares of Accenture, incorporated in Hamilton, Bermuda,
rose 1.8 percent in extended trading after closing little
changed at $42.83 on the New York Stock Exchange. The stock was
up 16 percent this year through Wednesday's close.


Read more at Reuters.com Market News

Japan's Nikkei 225 Stock Average, Topix Rise; Toshiba, Toyota Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 74.10, or 0.4 percent, to 18,006.32 at 9:02 a.m. in Tokyo.
The broader Topix index added 7.28, or 0.4 percent, to
1758.40.

Toshiba Corp. and Toyota Motor Corp. led the advances.


Read more at Bloomberg Stocks News

Global bond deals surge in first half -Dealogic

(Reuters) - Overall, global debt capital market deals are up 11
percent in the first half of 2007, compared with the first six
months of last year, totalling $3.7 trillion, according to data
compiled by Dealogic.




That shows just how resilient investor risk appetite has
been against a global stock sell-off in February, prompted by a
fall in Chinese stocks, and more recent volatility related to
renewed concerns about the risky U.S. subprime market.


Read more at Reuters.com Bonds News

M&A on pace for record despite signs of strain

(Reuters) - An increase in cross-border corporate mergers helped Europe
push past the United States in volume for the first time in four
years, and lifted the global tally of announced M&A in the first
half by 51 percent to $2.8 trillion, according to preliminary
data released on Friday by research firm Dealogic.




Global M&A was $1.9 trillion in the first half of 2006.


Read more at Reuters.com Mergers News

UPDATE 2-Dow Jones pact gives group power to OK editors

(Reuters) - NEW YORK, June 28 - A tentative deal between News
Corp. and Dow Jones & Co. Inc. would give an
independent board the power to approve the hiring and firing of
top editors at The Wall Street Journal, three sources said on
Thursday.




The agreement is an attempt to persuade the Bancroft
family, which controls Dow Jones through its voting shares, to
sell the 125-year-old U.S. publishing company to media tycoon
Rupert Murdoch's News Corp. for $5 billion.


Read more at Reuters.com Bonds News

Accenture profit gains on strong consulting demand

(Reuters) - SAN FRANCISCO, June 28 - Accenture Ltd. , the fourth-largest U.S. technology consulting company, said on Thursday that quarterly profit rose as it benefited from strong demand for its consulting services.



Net income for Accenture's fiscal third quarter ended May 31 climbed to $345.4 million, or 54 cents per share, from $342.3 million, or 56 cents per share, a year earlier. Revenue excluding reimbursements to clients advanced to $5.08 billion from $4.41 billion.


Read more at Reuters.com Market News

UPDATE 1-Heelys withdraws filing for sale of 4.5 mln shares

(Reuters) - The company said the statement was filed on May 7 and last
amended on June 25.




Heelys had originally filed to sell 8 million shares,
nearly a third of its common shares held by stockholders, but
it was later amended to a sale of 4.5 million shares.


Read more at Reuters.com Mergers News

Global Traffic files to sell up to 4.5 mln shares

(Reuters) - It also said it could use the funds to expand its business
either organically or through acquisitions.




Read more at Reuters.com Government Filings News

KBR completes DML shipyard sale, sees gain

(Reuters) - Houston-based KBR, which was split off from parent company Halliburton Co. earlier this year, said it expects to record a gain of about $93 million from the sale of its 51 percent interest.



The sale to Babcock was first announced in May.


Read more at Reuters.com Bonds News

Most U.S. Stocks Advance After Fed Says Economy Likely Will Keep Growing

(Bloomberg) -- Most U.S. stocks gained and
benchmark indexes were little changed after the Federal Reserve
said the economy will probably keep growing even as inflation
remains its main concern.

Intel Corp., the world's biggest semiconductor company,
and Cisco Systems Inc., the largest provider of networking
equipment, led computer stocks higher after analysts advised
buying the shares. Transocean Inc., the biggest offshore
driller, led a drop in energy producers after natural gas fell
the most in four months.


Read more at Bloomberg Stocks News

Consolidated Edison Says Storms May Cause a Second Day of Power Failures

(Bloomberg) -- Consolidated Edison Inc., owner of
New York City's utility, said thunderstorms may cause a second
day of power failures and delay restoration to customers who lost
service yesterday and last night.

Rain, wind and lightning last night knocked out power to
18,000 customers in Westchester County, north of New York City,
and to 18,000 in the Borough of Queens, New York-based
Consolidated Edison said today in a statement.


Read more at Bloomberg Energy News

Proctor Investment buys stake in Conquest

(Reuters) - New York-based Proctor, which is backed by National Bank
Financial of Canada, has made seven deals since its formation
in January 2006. The deal for Conquest is the first into a
single-strategy alternative asset firm, said Proctor.





Read more at Reuters.com Mergers News

Fed holds rates steady, nods to ease in inflation

(Reuters) - The decision by the central bank's Federal Open Market
Committee keeps the overnight federal funds rate target at the
level it hit in June last year after 17 straight
quarter-percentage point increases.




At its previous two meetings in March and May, the Fed had
described increases in nonfood, nonenergy prices as "somewhat
elevated."


Read more at Reuters.com Economic News

Beazer Homes, CKE, Comverge, Liz Claiborne, Starbucks: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:10 p.m. New York time.

Beazer Homes USA Inc. (BZH US) fell $2.17, or 7.6 percent,
to $26.37. The company said it fired its chief accounting officer
for attempting to destroy documents while it is under
investigation for potential fraud by the Federal Bureau of
Investigation.


Read more at Bloomberg Stocks News

GLOBAL MARKETS-U.S. stocks flat, bonds lower ahead of Fed

(Reuters) - NEW YORK, June 28 - U.S. stocks were little
changed on Thursday as investors stayed cautious ahead of the
outcome of a Federal Reserve policy meeting, while government
bonds edged lower in the face of inflation fears.




The dollar gained against the yen as risk appetite improved
marginally, though investors were reluctant to make large bets
ahead of the statement from the Fed policy meeting.


Read more at Reuters.com Bonds News

Carbon Emission Permits Climb to One-Week High as German Power Advances

(Bloomberg) -- European Union emission permits rose
to their highest in a week, on speculation demand from proposed
German power stations will exceed the permits set aside by the
national government, a Deutsche Bank AG analyst said. Rising power
prices helped push permits higher.

EU carbon dioxide emission permits for December 2008 gained
93 cents, or 4.3 percent, to close at 22.36 euros ($30.11) a metric
ton on the European Climate Exchange in Amsterdam. They earlier
traded as high as 22.60 euros a ton, their highest since June 21.


Read more at Bloomberg Energy News

FACTBOX-Five facts about Iberia, Europe's No.4 airline

(Reuters) - Following are five key facts about the airline:







Read more at Reuters.com Mergers News

DealTalk: Spinoffs back in fashion amid pressure to perform

(Reuters) - After four slower years when the combined value of U.S. spinoffs ranged from roughly $25 billion to $55 billion, 2006 saw a big comeback for such deals, with their total value topping $145 billion, according to research firm Dealogic.




Already in 2007, completed U.S. spinoffs have reached at least $80 billion, up from $60 billion at this stage last year.


Read more at Reuters.com Business News

DAX Index Rises; Postbank Shares Jump After Commerzbank Expresses Interest

(Bloomberg) -- Germany's benchmark DAX Index rose
for the first time in six days, led by Deutsche Postbank AG
after Commerzbank AG said the rival would be an ``excellent
addition.'' MAN AG and Henkel KGaA also paced gains.

The DAX added 90.32, or 1.2 percent, to 7891.55 at 2:26
p.m. in Frankfurt. DAX futures expiring in September increased
1.1 percent to 7967. The HDAX Index of the country's 110 biggest
companies climbed 1.32percent.


Read more at Bloomberg Stocks News

Orascom shares buoy Egypt stock indexes

(Reuters) - Major Egyptian shares rose on Thursday, lifted by a rebound in global equities and the heavy-weighted Orascom Telecom as the market digested news it was buying a majority stake in a Pakistani mobile operator, traders said.

"Pakistan has a huge potential and now OT being a majority shareholder will move the company forward in the direction it wants and get more profit. It's positive news," said Yasser Hassanein of Dynamic Securities, adding the market didn't initially react to the news.


Read more at Reuters Africa

GM selling Allison for $5.6 bln; shares rise

(Reuters) - DETROIT, June 28 - General Motors Corp. on Thursday said it reached a deal to sell its Allison Transmission unit for $5.6 billion to private-equity firms Carlyle Group and Onex Corp.



GM said the sale would include almost all of the Allison Transmission unit's assets, including seven manufacturing plants in Indianapolis and the unit's worldwide distribution network.


Read more at Reuters.com Mergers News

Worthington to close some facilities, cut jobs

(Reuters) - Worthington on Thursday reported fourth-quarter earnings of
45 cents a share on net sales of $788.6 million.




Analysts on average had expected the company to earn 37
cents on a revenue of $754.4 million for the latest fourth
quarter.



Read more at Reuters.com Market News

Canadian Stocks Gain for Second Day on Meridian Gold Takeover, Rising Oil

(Bloomberg) -- Canadian stocks rose for a second day,
led by commodity producers, after Meridian Gold Inc. received a
takeover proposal from rival bullion miners and prices of gold and
copper advanced.

Rising crude oil and natural-gas prices lifted such energy
producers as EnCana Corp., which had dragged the Standard &
Poor's/TSX Composite Index to three consecutive losses before
yesterday.


Read more at Bloomberg Stocks News

UPDATE 1-Fannie, Freddie had enough capital in Q1, says OFHEO

(Reuters) - WASHINGTON, June 28 - Mortgage finance companies
Fannie Mae and Freddie Mac FRE.N were "adequately
capitalized" during the first quarter of the year, the
companies' regulator said on Thursday.




The Office of Federal Housing Enterprise Oversight said the
both companies achieved the designation, the highest they can
receive concerning its reserves against possible losses, as of
March 31.


Read more at Reuters.com Bonds News

U.S. Stocks Decline After Inflation Gauge Rises Faster Than Forecast

(Bloomberg) -- U.S. stocks fell after a gauge of
inflation rose more than forecast in the first quarter,
reinforcing speculation the Federal Reserve won't cut interest
rates this year.

Bed Bath & Beyond Inc., the largest U.S. home-furnishings
retailer, dropped after it said earnings may decline because of
the slump in housing. Novellus Systems Inc., the maker of
equipment to produce computer chips, declined after saying
second-quarter profit and sales will be at the bottom end of
its forecast.


Read more at Bloomberg Stocks News

UPDATE 1-Build-A-Bear evaluates strategic alternatives

(Reuters) - CHICAGO, June 28 - Stuffed-animal retailer Build-A-Bear Workshop Inc. on Thursday said it has hired Lehman Brothers to help it evaluate a range of strategic alternatives, sending the retailer's stock up more than 13 percent in pre-market trading.



The company also said it would not give any new earnings forecasts or update previous ones while it conducts the review.


Read more at Reuters.com Bonds News

UPDATE 1-Extreme Networks to record costs on option grants

(Reuters) - A special committee of its board, which completed the
investigation into the stock-option grants, found no evidence
of fraud, the communications networking equipment maker said in
a statement on Thursday.




Extreme Networks said it would restate its results for
fiscal years 2002 to 2005 to record the expense.


Read more at Reuters.com Government Filings News

UPDATE 1-Canada factory prices fall in May as C$ rises

(Reuters) - The decline was the biggest since September 2006. Analysts
had expected no change in prices in May.




Statscan revised the April rise in factory prices to 0.3
percent from 0.2 percent. In the 12 months to May, prices rose
3 percent versus 3.8 percent in April, revised from 3.7
percent.


Read more at Reuters.com Economic News

GLOBAL MARKETS-Stocks gain ground, yen falls as risk re-bid

(Reuters) - LONDON, June 28 - World stocks regained composure
on Thursday after an almost week-long sell-off and the yen's
rally fizzled out as investors regained some appetite for risky
assets ahead of the Federal Reserve's interest rate decision.




Over the past week, concerns had grown that credit problems
in the U.S. high-risk mortgage sector could raise borrowing
costs for companies, squeeze liquidity and spread to the wider
economy.


Read more at Reuters.com Bonds News

PHH posts 1st-qtr profit

(Reuters) - Revenue rose 8.6 percent to $596 million.




In a regulatory filing, the company said revenue at its
mortgage servicing and fleet management services segments rose
$42 million and $22 million respectively, partially offset by a
$17 million decrease at its mortgage production segment.


Read more at Reuters.com Market News

Dollar Little Changed before Federal Reserve's Rate Decision, Growth Data

(Bloomberg) -- The dollar traded little changed
against the yen ahead of the Federal Reserve's monthly interest-
rate decision.

The U.S. currency pared earlier gains versus its Japanese
counterpart amid speculation the benchmark rate will remain at
5.25 percent for an eighth month. The dollar has weakened in the
past week after reports showed sales of new U.S. homes fell more
than expected in May and on concern losses at hedge funds managed
by Bear Stearns Cos. that invested in mortgages would spread to
other banks.


Read more at Bloomberg Currencies News

General Mills 4th-quarter profit edges higher

(Reuters) - Analysts, on average, forecast 63 cents a share, according to Reuters Estimates.




Sales rose 7 percent to $3.06 billion. Analysts, on average, forecast $2.99 billion, according to Reuters estimates.


Read more at Reuters.com Market News

CORRECTED: Fed seen on hold as core inflation edges lower

(Reuters) - WASHINGTON - Federal Reserve policy-makers meeting for a second day on Thursday look set to hold borrowing costs steady as they monitor risks that U.S. inflation could rekindle and that economic growth may stall.




Financial markets widely expect the U.S. central bank to hold benchmark overnight interest rates at 5.25 percent, a level reached in June last year after 17 straight increases.


Read more at Reuters.com Business News

U.S. Stock-Index Futures Are Little Changed; Apple Shares Climbe in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before the Federal Reserve announces its interest-rate
decision and comments on the economic and inflation outlook.

Apple Inc. shares gained in Europe after the Financial Times
reported Motorola Inc., the world's second-biggest mobile-phone
maker, is worried about the iPhone, which goes to market in the
U.S. tomorrow. Bed Bath & Beyond Inc. fell. The largest U.S.
home-furnishings retailer said profit may decline.


Read more at Bloomberg Stocks News

Barry Callebaut, Prologis, Caja Madrid to Sell Debt: European Bond Alert

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

Investment-Grade Sales


Read more at Bloomberg Bonds News

Bull-Dog wins court case vs Steel Partners-source

(Reuters) - TOKYO, June 28 - Japan's Bull-Dog Sauce has won a court case allowing it to erect anti-takeover defences aimed at thwarting a $260 million bid by U.S. hedge fund Steel Partners, said a source familiar with the situation.



Steel Partners had sought an injunction from the Tokyo District Court to bar the sauce maker from activating the defence, saying it discriminated against the fund and was financially damaging.


Read more at Reuters.com Government Filings News

Shanghai copper up 3.5 pct on Chile strike vote

(Reuters) - Shanghai copper rallied 3.5 percent on Thursday after workers at a large mine in Chile voted in favour of industrial action, adding to a series of supply concerns from disputes across North and South America.

The most-active September copper contract on the Shanghai Futures Exchange rose 2,110 yuan or 3.5 percent to 62,550 yuan at the close, recouping most of the previous day's 4 percent slide.


Read more at Reuters Africa

S.Africa unions expected to suspend strike - media

(Reuters) - Unions representing hundreds of thousands of striking South Africa's civil servants are expected to suspend their protest after last night's wage talks with the government, South African media said on Thursday.

Unions said on Wednesday night they would announce their response to a government wage offer on Thursday at a news conference at 0900 GMT, raising hopes the end was in sight to a crippling four-week strike.


Read more at Reuters Africa

Rand steady, looks to producer inflation

(Reuters) - South Africa's rand steadied versus the dollar on Thursday, after firming overnight on central bank governor Tito Mboweni's comments that interest rates may have to rise further.

Producer price data at 0930 GMT will give further clues on the interest rate outlook.


Read more at Reuters Africa