TNT operating profit down, to buy back shares

(Reuters) - AMSTERDAM, July 30 - Dutch mail company TNT NV said on Monday second-quarter operating profit fell 2.1 percent due to one-off items and said it would buy back 500 million euros of its own shares.



The former Dutch mail monopoly reported earnings before interest and tax of 330 million euros, down from 337 million in the previous year and below an average forecast of 351 million in a Reuters poll of 13 analysts.


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Gold on defensive, TOCOM platinum falls by limit

(Reuters) - Gold stayed on the defensive on Monday, with investment funds nervous about taking new positions due to recent losses in global equities markets, while Japanese platinum futures fell by 2 percent, hitting their daily limit.

Falling share prices have forced investors to lighten positions in risky assets, including commodities, until the situation in the stocks market stabilises, traders said.


Read more at Reuters Africa

Japan's Topix Climbs on Earnings Reports, Led by Steelmakers; Canon Drops

(Bloomberg) -- Japan's Topix index climbed, led by
steelmakers after companies including JFE Holdings Inc. reported
increased profits and boosted earnings forecasts.

A measure of steel companies included in the Topix surged
3.8 percent, after earlier dropping as much as 0.9 percent.


Read more at Bloomberg Stocks News

UPDATE 1-ABN withdraws backing for Barclays bid

(Reuters) - The Netherlands' biggest bank, which faces competing offers
of 65.6 billion euros from Barclays and 71
billion euros from the consortium of RBS, Fortis of
Belgium and Spain's Santander , also reported a 7.1
percent decline in quarterly net profit.




ABN originally backed Barclays when announcing a deal to
merge with it in April.


Read more at Reuters.com Mergers News

Australian and New Zealands Dollars Slump as Investors Reduce Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars slumped to a one-month low as declines in stocks
prompted investors to cut holdings in higher-yielding currencies.

The Australian dollar has fallen 4.1 percent against the
U.S. currency since reaching an 18-year high on July 25. New
Zealand's dollar plunged 6.1 percent since reaching the highest
since 1985 on July 24. They have been favorites for carry trades,
in which traders borrow cheaply in yen and seek higher returns
globally.


Read more at Bloomberg Currencies News

Porsche, SAP, Continental, Munich Re, GPC Biotech: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets. Stock symbols are in parentheses after the
company names and prices are from the Xetra close on July 27
unless otherwise stated.

DAX futures expiring in September dropped 72, or 1 percent,
to 7488 in Frankfurt. The DAX declined 0.8 percent to 7451.68 on
the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Indian Oil Seeks to Buy Crude Oil for Loading in Late September or October

(Bloomberg) -- Indian Oil Corp., the country's
biggest refiner, is seeking to buy crude oil for loading in late
September or October, said traders who received offer documents.

Details of the refiner's planned purchase are as follows:


Read more at Bloomberg Energy News

Malaysia's Naim Plans 500 Million Ringgit Islamic Debt Sale for Projects

(Bloomberg) -- Naim Cendera Holdings Bhd., a
Malaysian construction company, plans to sell debt for the first
time this year to fund property purchases and construction
projects in the country's largest state.

The company, based in Kuching, Sarawak, the biggest
Malaysian state by land area, plans to sell 500 million ringgit
($144 million) of Islamic debt in September, Deputy Managing
Director Sharifuddin Wahab said. CIMB group will manage the sale.


Read more at Bloomberg Bonds News

Nikkei hits 4-month low on election

(Reuters) - The defeat of Japanese Prime Minister Shinzo Abe's ruling camp in upper house elections left political uncertainties, while drops in U.S. stocks on credit concerns put a lid on the overall market.




The Nikkei gave up 172.64 points to 17,111.17, after earlier falling to 17,042.66, the lowest level since April 2. The broader TOPIX index declined 0.72 percent to 1,687.39.


Read more at Reuters.com Hot Stocks News

Data Don't Support Sarkozy Gripes About Euro Impact on Region's Exports

(Bloomberg) -- French President Nicolas Sarkozy
complains the euro's increase to a record against the dollar is
hurting European exports. So far, the numbers don't back him up.

Shipments from the 13-nation euro area rose 9 percent in
the five months through May from a year earlier, the second-
fastest pace in six years. That's because the euro has increased
less than half as much against the currencies of the region's 24
biggest trading partners as it has against the U.S. dollar.


Read more at Bloomberg Currencies News

Asian Stocks Drop to One-Month Low on U.S. Housing Concern, Japan Election

(Bloomberg) -- Asian stocks fell, extending a $2.1
trillion global rout, on speculation the world's largest economy
will slow after a report showed a slump in U.S. housing investment.

Toyota Motor Co. and James Hardie Industries NV led declines
among companies that rely on U.S. sales. Canon Inc. and Nintendo
Co. paced a drop by Japanese exporters after the yen strengthened
against the dollar, eroding the value of their overseas sales.


Read more at Bloomberg Stocks News

South Korea's Kospi Index Falls, Led by Kookmin, Shinhan, Hyundai Heavy

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 0.41 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange
fell 7.74 to 1,875.48. Among the stocks in the index, 177 rose,
451 fell and 104 were unchanged.


Read more at Bloomberg Stocks News

James Hardie, Santos, Woodside, Westfield: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview
includes news announced after markets closed on July 27. Prices
are from July 27's close unless otherwise stated. Stock symbols
are in brackets after the company names.

The S&P/ASX 200 Index futures contract due in September
slumped 1.2 percent to 5990 at 6:59 a.m. in Sydney. The Bank of
New York Australia ADR Index dropped 5 percent in New York.


Read more at Bloomberg Stocks News

UPDATE 1-Japan PM suffers election drubbing, says to stay

(Reuters) - TOKYO, July 30 - Japanese Prime Minister Shinzo
Abe's conservative ruling camp suffered a crushing defeat in
upper house elections on Sunday, but the 52-year-old hawkish
leader insisted he would stay in his job despite the bashing.




"I am determined to carry out my promises although the
situation is severe," Abe said, after acknowledging that he was
responsible for the huge loss.


Read more at Reuters.com Bonds News

OPEC not expected to discuss output change: Iran

(Reuters) - "There is a long time until then but if the market situation remains as now Iran will not have the view to increase production," Vaziri-Hamaneh said.




He also said the amount of oil reserves and production was high and that the Organization of the Petroleum Exporting Countries would therefore not hold an emergency meeting before the Vienna meeting.


Read more at Reuters.com Business News

RPT-Japan PM says to stay on despite election defeat

(Reuters) - "The nation-building has just started. I would like to
deliver on my duty to proceed with reform as prime minister," he
told a news conference.




Read more at Reuters.com Bonds News