Corporate Bond Risk Soars in Europe, Credit-Default Swap Index Shows

(Bloomberg) -- The risk of owning European corporate
bonds soared, according to traders of credit-default swaps.

Contracts based on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies jumped 27,500 euros to 324,000 euros at 7:18 a.m. in
London, according to Deutsche Bank AG.


Read more at Bloomberg Bonds News

Fortis's Eli Koen Sees Turkish Housing Boom; Buys Banks, Developers

(Bloomberg) -- Fortis Investments' Eli Koen, who
oversees the world's largest stock fund focusing on Turkey, is
buying banks as record economic growth and easier lending rules
help fuel a home-mortgage boom.

The manager of Fortis's 240 million-euro ($331 million)
Equity Turkey Fund moved 10 percent of the fund in the past year
into home loans and savings providers such as Akbank TAS. He put
another 5 percent into real estate and pulled assets from food
manufacturers like Ulker Gida Sanayi & Ticaret AS on the view
that people don't eat much more during good times.


Read more at Bloomberg Stocks News

National Australia Raises 50 Billion Yen in Its First Samurai Bond Sale

(Bloomberg) -- National Australia Bank Ltd., the
nation's biggest, raised 50 billion yen ($410 million) in its
first yen-denominated bond sale in Japan.

The bank sold 25 billion yen of five-year, fixed-rate bonds
with a coupon of 1.80 percent. It also priced 25 billion yen of
five-year, floating-rate debt at a yield of 8 basis points more
than the swap rate, according to data compiled by Bloomberg. A
basis point equals 0.01 percentage point.


Read more at Bloomberg Bonds News

South Korean Won Climbs to Near 2007 High; Rupiah, Ringgit, Baht Decline

(Bloomberg) -- The South Korean won rose,
approaching the highest this year, on signs growth in Asia's
third-largest economy is gathering pace.

The currency is the second-best performer in the region
today as department store sales in June increased at the fastest
pace in four months. The won has also risen 0.2 percent since
the central bank July 11 raised its 2007 economic growth
forecast as exports surge and consumer spending rebounds.


Read more at Bloomberg Currencies News

India's Bonds Gain for Third Day as Excess Cash in Economy Spurs Demand

(Bloomberg) -- India's 10-year bonds rose for a
third day on speculation increased cash in the financial system
will encourage banks to buy more debt.

The yield on the benchmark 7.49 percent note due April 2017
fell 1 basis point, or 0.01 percentage point, to 7.83 percent as
of 9:21 a.m. in Mumbai, according to the central bank's trading
system. The price rose 0.09, or 9 paise per 100 rupee face value,
to 97.68.


Read more at Bloomberg Bonds News

Asian Currency Gains May Be Capped at 5 Percent on Average, UOB's Koh Says

(Bloomberg) -- Asian currency gains may be limited
to 5 percent a year on average as China keeps a gradual pace of
yuan appreciation to protect exports and jobs, said Jimmy Koh,
head of treasury research at United Overseas Bank Ltd.

The region's economies compete against each other for
exports, making central banks unlikely to allow greater
appreciation in their currencies than those of rivals. Foreign-
exchange reserves in China, Taiwan and South Korea have risen as
central banks buy dollars to keep their exchange rates stable.


Read more at Bloomberg Emerging Markets News

Weichai, Norstar Shares May Rise as Ford, Volkswagen Buy Chinese Car Parts

(Bloomberg) -- As wealthy Chinese clog Beijing and
Shanghai's roads with new cars, the best place for investors to
profit from the country's automobile boom may be Hong Kong.

Shares of Chinese car-parts makers listed in Hong Kong,
including Weichai Power Co. and Norstar Founders Group Ltd., are
poised to rise even more as domestic auto sales soar and
Volkswagen AG and Nissan Motor Co. buy more Chinese-made
components. The shares sell at an average of about 30 times
earnings, 79 percent lower than mainland-listed parts makers,
even after some of them have more than doubled in value this year.


Read more at Bloomberg Emerging Markets News

Japanese Stocks Drop, Led by Exporters as Yen Gains; Canon, Nintendo Slide

(Bloomberg) -- Japanese stocks fell, led by
exporters including Canon Inc. and Nintendo Co. on concern yen
gains versus the dollar will erode the value of their U.S. sales.

Millea Holdings Inc. led insurers lower for a second day on
speculation a July 16 earthquake will result in increased claims.
Tokyo Electric Power Co. declined on speculation one of the
company's nuclear plants will be shut for up to three months due
to quake damage.


Read more at Bloomberg Stocks News

U.S. Treasuries Rise; Bear Stearns Subprime Losses Feed Demand for Safety

(Bloomberg) -- U.S. Treasury notes rose as losses
at hedge funds run by Bear Stearns Cos. fed demand for the
relative safety of government securities.

Ten-year yields declined to the lowest in a week after Bear
Stearns told investors in one of its funds that they won't get
their money back. The yields have fallen 29 basis points from a
five-year high on June 13 as hedge funds incurred losses on
subprime debt and Moody's Investors Service and Standard &
Poor's cut ratings on the bonds.


Read more at Bloomberg Bonds News

South Korea's Kospi Declines, Led by Posco, Hyundai Heavy, Korea Electric

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 0.26 percent at 9:05 a.m.

The index of 731 companies traded on the Korea Exchange
fell 4.98 to 1,944.53. Among the stocks in the index, 342 rose,
247 fell and 142 were unchanged.


Read more at Bloomberg Stocks News

Quovadx says settles probe with U.S. regulators

(Reuters) - In April 2004, the U.S. Securities and Exchange Commission
had begun a formal investigation in connection with
transactions entered into in 2002 and 2003, the company said.





Read more at Reuters.com Government Filings News

Argentina stocks up despite minister resignation

(Reuters) - The MerVal index of 21 leading stocks closed at
2,251.59 points, rising 0.12 percent from the previous day's
close.




"It was a day in which the departure of Miceli passed
unnoticed, as stocks followed the volatility of regional
markets," said Marcelo Paccione, an analyst with
ConsultCapital.


Read more at Reuters.com Bonds News

UPDATE 1-Senators urge US agencies to finalize Basel II

(Reuters) - "We both believe strongly that the decisions you take in
the next few days will have a significant impact on both the
safety and soundness and the competitiveness of the U.S.
financial system," Connecticut Democrat Christopher Dodd, the
committee's chairman, said in a letter.




The letter was also signed by Sen. Richard Shelby of
Alabama, the ranking Republican on the committee.


Read more at Reuters.com Bonds News

Abitibi-Consolidated, Bowater name CEO, CFO for AbitibiBowater

(Reuters) - Bowater agreed in January to buy Abitibi and create
AbitibiBowater Inc.





Read more at Reuters.com Mergers News

China, India, Indonesia, South Korea, Malaysia: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The central bank sold 8 billion yuan ($1.05 billion)
of 1-year discounting note yesterday, yielding 3.0928 percent,
the same as the similar-maturity bills it sold last week. China
Agricultural Development Bank auctioned 10 billion yuan of five-
year floating rate notes yesterday. Major economic data in June,
including the consumer prices index, will be released on July 19,
according to the Bureau of Statistics.


Read more at Bloomberg Bonds News

Yen Trades Near Record Low Versus Euro Before Release of June BOJ Minutes

(Bloomberg) -- The yen traded near a record low
versus the euro on speculation the Bank of Japan will signal in
its June minutes that any interest-rate increases will come at a
gradual pace, curbing the appeal of the Japanese currency.

The Japanese currency dropped yesterday as concern eased
that losses will mount in securities backed by subprime mortgage
loans. The Dow Jones Industrial Average exceeded 14,000 for the
first time, encouraging buying of risky assets funded by loans
in Japan, a strategy known as the carry trade.


Read more at Bloomberg Currencies News

Mexico stocks drop, hurt by telecoms and Cemex

(Reuters) - MEXICO CITY, July 17 - Mexican stocks fell on
Tuesday, hurt by losses in cement maker Cemex and
telecommunications firms Telmex and America Movil, while the
peso firmed on encouraging U.S. economic data.




The benchmark IPC stock index slipped 0.89 percent
to 31,979.14 points. The peso firmed 0.45
percent to 10.732 pesos per dollar on the back of
stronger-than-expected industrial production data in the United
States.


Read more at Reuters.com Bonds News

Quicksilver Gas raises US IPO to 5 million units

(Reuters) - The company plans to list the units on the New York Stock
Exchange Arca under the symbol "KGS."




UBS Investment Bank, Goldman, Sachs & Co., A.G. Edwards,
JPMorgan, and Fortis Securities LLC are underwriting the IPO.


Read more at Reuters.com Government Filings News

Intel second-quarter profit rises

(Reuters) - For its second quarter, Intel posted net earnings of $1.3 billion, or 22 cents per share, compared with $885 million, or 15 cents per share, a year earlier.




Excluding a special gain of 3 cents per share related to a tax item, Intel's profit was 19 cents per share, in line with the average Wall Street expectation.


Read more at Reuters.com Business News

U.S. gold ends a tad down, market trend views mixed

(Reuters) - Most-active gold for August delivery on the COMEX division of the New York Mercantile Exchange settled down 40 cents at $665.90 an ounce, dealing between $663.00 and $668.40.




Nearby U.S. oil futures ended just below $74 a barrel on Tuesday after surging above $75 a barrel in early trades to its loftiest level since last August. Gold is generally seen as a hedge against oil-led inflation.


Read more at Reuters.com Hot Stocks News

4uropean Union Carbon Emissions Rebound From 11-Week Low as Coal Declines

(Bloomberg) -- European Union carbon dioxide
permits rebounded from their lowest in 11 weeks, as the price of
coal fell for the first day in 10, potentially increasing demand
for allowances to burn the fuel at power plants.

Permits for December 2008 rose 37 cents, or 2 percent, to
close at 19.25 euros ($26.54) a metric ton on the European
Climate Exchange in Amsterdam. They earlier dropped as much as
3.9 percent to 18.15 euros, their lowest since April 27.


Read more at Bloomberg Energy News

LKQ to buy Keystone Automotive for $811 mln

(Reuters) - Shares of Chicago-based LKQ were up more than 13 percent at $28.75 in afternoon trade on the Nasdaq.




"Keystone is by far the biggest acquisition they have ever done, this will almost double the size of the combined company", William Armstrong, analyst with CL King and Associates, said by phone. The deal, which is expected to close early in the fourth quarter, will slightly add to earnings in 2008, LKQ said.


Read more at Reuters.com Hot Stocks News

U.S. Stocks Advance, Dow Average Tops 14,000 as Financial Shares Rally

(Bloomberg) -- U.S. stocks rose, sending the Dow
Jones Industrial Average past 14,000 for the first time, after
wholesale inflation unexpectedly declined and Goldman Sachs Group
Inc. recommended American Express Co. shares.

American Express, the fourth-biggest U.S. credit-card
issuer, helped push the Dow average to a fourth-straight record.
Novellus Systems Inc. surged the most since October 2002 and led
shares of semiconductor-equipment makers higher after it forecast
orders this quarter above analysts' projections.


Read more at Bloomberg Stocks News

Merrill Lynch's profit jumps 31 percent

(Reuters) - The company easily beat earnings and revenue estimates. Merrill Lynch shares are down 6 percent this year. They rose more than 2 percent immediately after the company released its results, but the stock eased slightly in midday trading.




Merrill Lynch Chief Financial Officer Jeff Edwards said the company is diversified enough that it can overcome a still-shaky market for subprime mortgages and collateralized debt obligations. The company is a leading collateralized debt obligation underwriter and participates in subprime lending through its First Franklin Financial franchise.


Read more at Reuters.com Mergers News

Dutch law backs EADS golden share -French senator

(Reuters) - However it would need the support of two thirds of EADS
shareholders before it could be introduced under Dutch law,
which is the legal framework for Dutch-registered EADS.




"Under the present pact, the French state has shares but
doesn't participate in all decisions, while the German
government has no shares but German interests are very present
via DaimlerChrysler," Le Grand told Reuters.


Read more at Reuters.com Government Filings News

UPDATE 2-Working group to mull EADS "golden share" -Germany

(Reuters) - BERLIN, July 17 - A working group to be set up by
EADS shareholders and the French and German governments
will examine the possibility of using 'golden shares' to look
after the aerospace group's interests, Germany said on Tuesday.




"In the framework of the issues for discussion on how to
best protect EADS' strategic interests, various instruments are
expected ," German government spokesman Ulrich
Wilhelm told a news conference.


Read more at Reuters.com Bonds News

Macatawa shares hit year-low on weak quarterly earnings

(Reuters) - On Monday, the bank holding company had said non-performing loans were up $24 million since June 2006 and most of these increases were in loans to residential land developers.




The company also reported second-quarter earnings of 26 cents a share, down from 33 cents a share in the year-ago quarter. Analysts on average expected earnings of 29 cents a share, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Cortex to resume Ampakine trial at all dosage levels

(Reuters) - The company now has permission from the Food and Drug
Administration to resume trial with 600mg and 1200mg doses of
the drug in mild-to-moderate Alzheimer's patients.




FDA had previously limited the dosage to lower levels. The
study was originally designed with doses of 200mg, 600mg and
1200mg.
The company's shares rose more than 25 percent in midday
trade, making them the highest percentage gainer on the
American Stock Exchange.


Read more at Reuters.com Government Filings News

Garganas Says ECB Will Need to Raise Rates Again To Quell Inflation

(Bloomberg) -- European Central Bank council member
Nicholas Garganas said interest rates will need to rise further as
stronger economic growth than the bank predicted threatens to fan
inflation.

``Based on my assessment of the current information
available, I would expect that a further withdrawal of monetary
accommodation would be warranted,'' Garganas, who also heads the
Greek central bank, said in an interview in Athens yesterday.
``Risks to inflation have increased.''


Read more at Bloomberg Currencies News

Wheat Futures Rise in Chicago as Demand for U.S. Grain Jumps on Price Drop

(Bloomberg) -- Wheat futures rose in Chicago after
a 3.3 percent price drop the past three sessions sparked buying
interest from importers of U.S. grain.

Egypt said today it bought 300,000 metric tons of U.S.
wheat. The Taiwan Flour Millers Association, which represents
34 grain buyers, plans to purchase 91,890 tons, and Japan said
it is seeking 70,000 tons. Orders for U.S. wheat for delivery
before June 1 are up 39 percent from a year earlier, the
government said last week.


Read more at Bloomberg Commodities News

UPDATE 2-UK buyout firms urged to voluntarily end secrecy

(Reuters) - LONDON, July 17 - Private equity firms should
disclose more details about themselves and the companies they
acquire, but not be subjected to greater regulation, an
independent review requested by Britain's buyout industry found.




David Walker, a former chairman of Morgan Stanley
International, was appointed in March to look at ways for buyout
firms to communicate more information to more people to help
silence a growing chorus of public and political criticism.


Read more at Reuters.com Mergers News

U.K. Stocks Decline, Paced by BHP Billiton, Lonmin; Tate & Lyle Rallies

(Bloomberg) -- U.K. stocks fell for a second day,
paced by BHP Billiton Ltd. after Deutsche Bank AG downgraded the
shares and metal prices retreated. Lonmin Plc dropped to a one-
month low.

Rolls-Royce Group Plc and Kelda Group Plc declined as
brokerages lowered their recommendations for the companies'
stocks. Reed Elsevier Plc dropped after it agreed to sell
Harcourt Education for $4 billion. Tate & Lyle Plc surged after
Goldman, Sachs & Co. said investors should buy the shares.


Read more at Bloomberg Stocks News

US STOCKS-Wall St set to open up on data, earnings

(Reuters) - NEW YORK, July 17 - Wall Street looked set to
open slightly higher on Tuesday as stronger-than-expected
earnings from companies, including Merrill Lynch & Co. ,
helped offset concern about the subprime mortgage market.




Stock futures edged up after Labor Department data that
showed a surprise drop in an index of U.S. producer prices for
June. Economists had forecast a small rise.


Read more at Reuters.com Bonds News

UPDATE 1-Atlanta Fed names new research director

(Reuters) - Altig will advise Atlanta Fed President Charles Lockhart
on monetary policy and related economic issues. His start date
is being determined.




"David Altig is an experienced and well-respected
macroeconomist," Lockhart said in a statement.


Read more at Reuters.com Bonds News

DealTalk: Italy scrambles to save Alitalia auction

(Reuters) - Less than a week before final offers are due, Italy's centre-left government can ill afford failure as it pursues fragile talks with unions on pension reforms, analysts say.




Prime Minister Romano Prodi's government, whose popularity has slipped a year after coming to power, has already pushed back the deadline twice for final offers.


Read more at Reuters.com Business News

Goldman, JPMorgan Get Stuck With LBO Debt They Can't Sell to Investors

(Bloomberg) -- Goldman Sachs Group Inc., JPMorgan
Chase & Co. and the rest of Wall Street are stuck with at least
$11 billion of loans and bonds they can't readily sell.

The banks have had to dig into their own pockets to finance
parts of at least five leveraged buyouts over the past month
because of the worst bear market in high-yield debt in more than
two years, data compiled by Bloomberg show.


Read more at Bloomberg Exclusive News

ECB's Garganas Calls on Banks to Tighten Lending for Leveraged Buyouts

(Bloomberg) -- European Central Bank governing
council member Nicholas Garganas called on banks to tighten
lending to buyout firms, saying current pricing of loans may not
reflect risks.

``It is crucial that financial institutions properly price
the risks involved and that in some circumstances limit the
amount they lend,'' Garganas said yesterday in an interview in
his Athens office. Banks ``shouldn't be tempted to relax their
lending criteria to attract new business,'' Garganas said.


Read more at Bloomberg Bonds News

Likely Nigeria finmin wants prudent government spending

(Reuters) - A Nigerian central banker who is widely expected to be the next finance minister said on Tuesday government should limit its spending to help control inflation and deregulate key sectors to spur private sector growth.

Shamsuddeen Usman, deputy governor of the central bank in charge of operations, said Nigeria's windfall oil revenue savings should be used prudently for capital projects to avoid the boom-and-bust cycles that plagued the economy in the past.


Read more at Reuters Africa

J&J beats forecasts, with strong overseas demand

(Reuters) - Analysts on average expected $1 per share, according to Reuters Estimates.




"At first glance, the earnings look pretty strong," said Russell Croft, portfolio manager of Croft-Leominster Value Fund.


Read more at Reuters.com Business News

American Express, Answers, BHP, Dow Jones, Keystone: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:30 a.m. New York time.

American Express Co. (AXP US) rose $1.52, or 2.5 percent, to
$63.40. The No. 4 U.S. credit-card issuer was upgraded to ``buy''
from ``neutral'' at Goldman, Sachs & Co., which said the card
network business was undervalued.


Read more at Bloomberg Stocks News

Bain to get about six bids for SigmaKalon: sources

(Reuters) - Other interested buyers still in the auction are U.S. paint companies Sherwin Williams and PPG Industries and buyout firms BC Partners and LBO France, Financial News said on its Website, citing sources close to the deal.




The auction may raise more than the 2.1 billion euros targeted by Bain, Financial News cited one source as saying.


Read more at Reuters.com Mergers News

Wells Fargo 2nd-qtr earnings jump

(Reuters) - Analysts on average forecast profit of 67 cents per share on revenue of $9.63 billion, according to Reuters Estimates.




John Stumpf, who replaced Richard Kovacevich as chief executive last month, said Wells Fargo won more business from existing customers, helping to offset "the industry headwinds of a weaker housing market, a flat yield curve and slower deposit growth."


Read more at Reuters.com Bonds News

Dow Jones, Lyondell Chemical, Nautilus, Salesforce: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 7:30 a.m. New York time.

American Standard Cos. (ASD US): The toilet maker was
recommended by CNBC ``Mad Money'' host Jim Cramer, who said it
will benefit from breaking up its businesses. Shares rose 11
cents to $61.20 in regular trading yesterday.


Read more at Bloomberg Stocks News

UPDATE 1-SSAB Q2 pretax disappoints, shares tumble

(Reuters) - SSAB, which said it expects the Ipsco takeover to be
completed this week, reported a pretax profit of 1.86 billion
crowns versus a forecast 2.31 billion crowns in a
Reuters poll and 1.78 billion in the same quarter of 2006.




SSAB fell sharply on the news, and were trading 9.4 percent
lower at 284.50 at 1040 GMT.


Read more at Reuters.com Market News

European Stocks Fall for First Time in Four Days; BG, Deutsche Bank Drop

(Bloomberg) -- European stocks dropped for the first
time in four days after analysts downgraded oil companies and a
decline in metal prices pushed mining shares lower.

BG Group Plc and Statoil ASA paced a retreat in energy stocks
after a brokerage recommended selling the shares. Anglo American
Plc and Antofagasta Plc followed copper and nickel prices lower.
Deutsche Bank AG and Allianz AG led declines by financial stocks
before a report on U.S. producer prices that may provide clues
about inflation and the outlook for rates.


Read more at Bloomberg Stocks News

Schefenacker, Seeking Bankruptcy, Flees Germany for Friendlier U.K. Courts

(Bloomberg) -- When Schefenacker AG, a German auto-
parts maker, faced a default on bond debt last year, it fled the
country where it was founded in 1935, moved its headquarters to
England and filed for bankruptcy in London.

The maneuver allowed Schefenacker, after relocating on Feb.
11, to complete a 500 million-euro ($680 million) restructuring
last month that company lawyers said would have been impossible
under Germany's more stringent insolvency law.


Read more at Bloomberg Exclusive News

UPDATE 1-Sucampo sees $14-$16/shr price band for IPO

(Reuters) - The pharmaceutical company plans to list on the Nasdaq
under the symbol "SCMP," it said in a filing with the U.S.
Securities and Exchange Commission.




Sucampo said it expects to raise net proceeds of about
$38.6 million and plans to use the proceeds to fund its
clinical trials.


Read more at Reuters.com Government Filings News

CORRECTED - SSAB Q2 profit below consensus

(Reuters) - A survey of 8 analysts had forecast pretax profit of 2.31
billion crowns. The firm, which specialises in quenched and
ultra-high-strength steels, had a pretax profit of 1.78 billion
in the same quarter in 2006.




The firm said that deliveries of quenched steels were
negatively affected by the ongoing investment projects and by
minor disruptions in production in the second quarter, although
deliveries rose 3 percent year-on-year.


Read more at Reuters.com Market News

Sanofi Diet-Pill Debacle Reveals Management Missteps With U.S. Regulators

(Bloomberg) -- Sanofi-Aventis SA, whose weight-loss
pill was rejected by U.S. regulators last month, may have
mismanaged the drug's development by promising too much and
failing to heed safety concerns in patient studies.

The company didn't follow up on thousands of patients who
dropped out of clinical tests for Zimulti, the obesity treatment,
studies of the drug show. That left Sanofi unable to answer U.S.
regulators' questions about side effects, according to documents
the Food and Drug Administration released in June. Two weeks
before the FDA review, Chairman Jean-Francois Dehecq told
Sanofi's annual meeting he expected a ``positive outcome.''


Read more at Bloomberg Exclusive News

Treasuries Fall Before Bernanke Testimony, Report on International Demand

(Bloomberg) -- Treasuries fell before testimony by
Federal Reserve Chairman Ben S. Bernanke tomorrow, and a report
today forecast to show waning foreign demand for U.S. assets.

U.S. 10-year notes snapped two days of gains fueled by
speculation losses in securities backed by subprime mortgage
loans would increase demand for safer government debt. Bernanke
may reiterate in his semi-annual testimony that policy makers
are focused on restraining inflation, suggesting the Fed won't
lower its benchmark interest rate from 5.25 percent this year.


Read more at Bloomberg Bonds News

European shares extend losses, down nearly 0.6%

(Reuters) - European stocks extended losses on Tuesday, led by banks and oil shares, as worries over the U.S. subprime market returned to keep investors on edge.

At 0829 GMT, the FTSEurofirst 300 was down 0.6 percent at 1,620.63 points, with banks and oil shares accounting for nearly 40 percent of the fall.


Read more at Reuters Africa

Atlas Iron in Talks With Asian Mills for Sale of Australia Project Stake

(Bloomberg) -- Atlas Iron Ltd., an Australian iron
ore explorer whose shares have risen more than threefold this
year, is in talks with Asian steelmakers to sell a stake in its
planned export project, Managing Director David Flanagan said.

``We have had 35 expressions of interest from people
wanting to partner us in the project,'' Flanagan said by phone
from Perth yesterday. ``It is possible,'' a deal with a Chinese
partner will be signed by the end of the year, he said.


Read more at Bloomberg Commodities News

Subprime worries hurt broad market, but Dow rises

(Reuters) - The broader U.S. stock market fell on Monday on worries that troubles in the subprime mortgage market may spread, but optimism about earnings at multinational companies pushed the Dow to nearly 14,000.

Energy stocks fell, led by ConocoPhillips, because of concern about dwindling profit margins for gasoline. In addition, natural gas prices declined due to forecasts for below-normal summer temperatures, hurting utility stocks.


Read more at Reuters Africa

French CAC Benchmark Declines, Led by Shares of Total, Lagardere, Suez

(Bloomberg) -- French stocks fell, paced by Total
SA, Europe's largest oil refiner. Suez SA and Lagardere SCA also
retreated.

The CAC 40 Index slid 13.02, or 0.2 percent, to 6112.58 at
9:08 a.m. in Paris. The SBF 120 Index declined 0.2 percent to
4453.77.


Read more at Bloomberg Stocks News