Palm Oil Rises to Two-Week High in Malaysia on Drop in U.S. Soybean Crop

(Bloomberg) -- Palm oil prices in Malaysia rose to a
two-week high on expectations demand for the world's largest
traded vegetable oil will increase as supply of competing
soybean oil declines from a lower U.S. crop.

U.S. farmers planted the lowest acreage to soybeans in 12
years this year as they switched production to corn, according
to a June 29 report from the U.S. Department of Agriculture.
Palm oil is the most consumed vegetable oil in the world,
followed by soybean oil.


Read more at Bloomberg Commodities News

Australia Newcastle Thermal Coal Price Jumps to Record as Exports Fall

(Bloomberg) -- The price for power-station coal at
Australia's Newcastle, the world's largest export harbor for the
fuel, rose to a record after storms disrupted shipments.

The price of thermal coal for immediate delivery from the
port in New South Wales state rose $4.58 a metric ton to $70.88
in the week ended June 29 from a week earlier, according to the
globalCOAL NEWC Index. About 2.5 million metric tons of coal
export capacity was lost as a result of eastern Australia's worst
storm in 30 years, said the Hunter Valley Coal Chain Logistics
Team, coordinator of rail and port movements for Newcastle.


Read more at Bloomberg Commodities News

European Government Bonds May Drop on Outlook for Economic Growth, Rates

(Bloomberg) -- European government bonds may fall as
the economic momentum gathers pace in the 13 nations using the
euro, underpinning views the European Central Bank needs to raise
interest rates further to curb inflation.

Ten-year Bunds, Europe's benchmark, may extend their drop
after ending their worst quarter since the September 1999. ECB
President Jean-Claude Trichet may this week reiterate borrowing
costs are low enough to stimulate expansion in the $10.4 trillion
euro-region economy.


Read more at Bloomberg Bonds News

Forecasts rise for Q2 earnings-Reuters Estimates

(Reuters) - Health care and technology stocks continue to lead, with
double-digit profit growth forecast in both stock sectors. By
contrast, profits are seen falling in the energy sector and in
cyclical consumer goods and services, Reuters Estimates said.




Read more at Reuters.com Bonds News

Japan's Topix Rises, Led by Mitsui, Trading Houses, on Oil, Rating Call

(Bloomberg) -- Japan's Topix index advanced, led by
trading companies such as Mitsui & Co., after the price of oil
climbed to a 10-month high and a brokerage gave the company its
most bullish recommendation.

The price of oil advanced 1.6 percent to close above $70 a
barrel last week. Mitsubishi UFJ Securities Co. initiated
coverage of Mitsui with a ``strong outperform'' rating.


Read more at Bloomberg Stocks News

Asian Oil Stocks Climb, Led by Woodside Petroleum; Mitsubishi Estate Drops

(Bloomberg) -- Asian energy stocks rose, led by
Woodside Petroleum Ltd., after declining U.S. stockpiles and
attempted car bombings in the U.K. lifted the price of crude oil
to a 10-month high.

``Terror threats seem to benefit energy shares as the market
always seems to tie it back to the Middle East and risks to
supply,'' said Shane Oliver, who helps manage the equivalent of
$83 billion at AMP Capital Investors in Sydney. ``You tend to see
the oil price pushed up, benefiting shares.''


Read more at Bloomberg Stocks News

Japan's Real Estate Shares Decline as Banks Raise Mortgage Interest Rates

(Bloomberg) -- Japanese property developer stocks
fell, led by Mitsubishi Estate Co., after the country's largest
bank raised interest rates on fixed-rate mortgages. Higher
mortgage rates may damp demand among consumers for buying
property.

Mitsubishi UFJ Financial Group's main banking unit
yesterday raised its rates on mortgage loans, according to its
Web site. The bank added 0.25 percentage point to rates applied
to new loans with fixed-rate terms of five to 20 years.


Read more at Bloomberg Stocks News

UPDATE 1-Japan business sentiment unchanged as expected

(Reuters) - The yen fell to a session low of 123.28 to the dollar
after the BOJ's quarterly tankan business sentiment survey came
largely in line with forecasts, compared with around 123.05 just
before it was released. Japanese government bond futures
hit a three-week high of 132.20, up 0.19 point.




The BOJ's closely watched tankan, meaning short-term economic
outlook, showed a headline diffusion index for big
manufacturers' sentiment of plus 23.


Read more at Reuters.com Economic News

Yen Trades Near Record Low Versus Euro After Bank of Japan Tankan Survey

(Bloomberg) -- The yen traded near a record low
versus the euro after a Bank of Japan quarterly Tankan survey,
which showed confidence among Japan's largest manufacturers
stayed close to a two-year high.

The yen declined to a record low against the euro and a 4
1/2-year low versus the dollar last month as reports showed
industrial production fell for a third month and consumer prices
unexpectedly dropped in May. Japan's key interest rate of 0.5
percent is the least of any major economy.


Read more at Bloomberg Currencies News

Yen Trades Near Record Low Versus Euro Before Bank of Japan Tankan Survey

(Bloomberg) -- The yen traded near a record low
versus the euro before a Bank of Japan quarterly Tankan survey,
which may show confidence among Japan's largest manufacturers
stayed close to a two-year high.

The yen declined to a record low against the euro and a 4
1/2-year low versus the dollar last month as reports showed
industrial production fell for a third month and consumer prices
unexpectedly dropped in May. Japan's key interest rate of 0.5
percent is the least of any major economy.


Read more at Bloomberg Currencies News

IBM launches nuclear expertise centre in France

(Reuters) - International Business Machines Corp. is banking on a growth of the nuclear industry as the carbon dioxide-free energy source is touted as a tool to combat global warming and increase power output to meet surging demand.




Guido Bartels, IBM's global energy and utilities industry manager told Reuters that in the 30 countries with nuclear generation there was a need for sophisticated risk modeling and information tools driven by nuclear power plant license extensions and construction of new plants.


Read more at Reuters.com Business News

Total Began Production From Rosa Deepwater Oil Field Off Angola on June 18

(Bloomberg) -- Total SA, Europe's third-largest oil
company, said production started June 18 at its Rosa deep-water
oil field off the coast of Angola.

The Rosa field, which has proven and probable reserves of
370 million barrels, will keep production of the Girassol
platform at 250,000 barrels a day ``until early in the next
decade,'' Paris-based Total said today in an e-mailed statement.


Read more at Bloomberg Energy News

UPDATE 1-JFK terminal closed briefly, suspicious package

(Reuters) - Port authority officials said the package was being
investigated by bomb squad and other experts but the terminal
was reopened and the "all clear" given shortly after it was
evacuated, media reports said.




No information was available on what was inside the
package. The airline said flights were not delayed.


Read more at Reuters.com Bonds News

UPDATE 1-Kuwait to keep Daimler shares, says troubles over

(Reuters) - KUWAIT, July 1 - Kuwait Investment Authority,
which manages an estimated $400 billion in assets, said on
Sunday it would keep its stake in DaimlerChrysler and
expects the German carmaker to have put its troubles behind it.




The state investment arm of the world's seventh largest oil
exporter has a 7.2 percent stake in DaimlerChrysler ,
making it the automaker's biggest shareholder.


Read more at Reuters.com Bonds News