Degussa, Sainsbury Bond Risk Rises: European Credit-Default Swap Movers

(Bloomberg) -- The risk of owning European
corporate bonds fell, according to traders in the credit-default
swaps market.

Contracts based on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index fell 1,000 euros
to 202,000 euros at 8:50 a.m. in London, according to JPMorgan
Chase & Co.


Read more at Bloomberg Bonds News

European Stocks Rise for Third Day; Sainsbury, Tesco, Wolseley Pace Gains

(Bloomberg) -- European stocks rose for a third day
after a Qatar fund bought shares in J Sainsbury Plc, the third-
largest U.K. supermarket chain, and fueling speculation takeovers
will increase in the industry.

Sainsbury and Tesco Plc, Britain's biggest supermarket
company, led the Dow Jones Stoxx 600 Retail Index to the highest
since June 4. Total SA, Europe's largest refiner, and Royal Dutch
Shell Plc advanced as oil traded near the highest in nine months.
Wolseley Plc rallied on speculation the world's biggest distributor
of plumbing and heating equipment may be a takeover target.


Read more at Bloomberg Stocks News

U.K. Power Traders, RWE, Merrill, Seek Exchange for Electricity Auctions

(Bloomberg) -- The U.K.'s Power-Trading Forum,
whose members include utilities such as RWE AG and banks Merrill
Lynch & Co. and Barclays Capital, called for the development of
exchange-based clearing and auctions for electricity.

The forum is seeking an operator to immediately provide an
exchange-trading platform for electricity and act as a pool for
market liquidity, it said in an e-mailed statement.


Read more at Bloomberg Energy News

Banks, retailers boost European shares

(Reuters) - European shares rose in early trade on Friday, pushed up by financial and resource shares as the oil price soared back above $71 a barrel, while investors waited for key U.S. inflation data due later in the day.

The DJ Stoxx European retail index gained 1 percent led by J. Sainsbury which added 4.5 percent, after a Qatari group increased its stake in the supermarket to a quarter.


Read more at Reuters Africa

NYMEX explores sale of company -report

(Reuters) - A NYMEX response is not mentioned in the report, which cited
two people involved in the discussions. A spokeswoman for NYMEX
did not immediately respond to a call and e-mail seeking
comment. The three exchanges mentioned in the report were not
immediately available for comment.




NYMEX shares closed at $139.80 on Thursday on the New York
Stock Exchange, up almost 5 percent on the day.


Read more at Reuters.com Mergers News

Nordic Stocks Advance, Led by Statoil, Norsk; Mobile Phone Makers Climb

(Bloomberg) -- Nordic stocks advanced for a third
day, led by Statoil ASA and Norsk Hydro ASA, the region's biggest
oil and gas producers, as oil traded near a nine-month high.
Ericsson AB and Nokia Oyj also gained.

The Dow Jones Nordic 30 Index climbed 39.23, or 0.4 percent,
to 8953.08 at 9:06 a.m. in Stockholm, as all but five its members
rose.


Read more at Bloomberg Stocks News

Chinese investment quickens, fuels tightening talk

(Reuters) - Fixed investment in urban areas rose 25.9 percent from a year earlier, picking up from 25.5 percent growth in the January-April period, the National Bureau of Statistics said on Friday.




The median forecast of economists polled by Reuters was for a rise of 25.7 percent, although a government source familiar with the data had said it would be 25.9 percent.


Read more at Reuters.com Business News