(Bloomberg) -- Palm oil futures rose to the highest in more than eight years on concern that supply may lag behind demand following estimates of higher-than-expected exports from Malaysia, the world's largest producer of the commodity.
Malaysia exported 666,793 metric tons of palm oil in the first 15 days of April, up 47 percent from 454,791 tons recorded in the same period last month, independent cargo surveyor Intertek said.
Read more at Bloomberg Commodities News
Sunday, April 15, 2007
TREASURIES-Ten-year yield hovers near 2-month high
(Reuters) - Many in the market held off from taking significant bets until consumer price figures for March are released on Tuesday. Forecasts are for prices excluding food and energy to rise 0.2 percent from February, when they rose by the same amount.
Dealers said ongoing pressure on prices as the U.S. economy stalls was likely to steepen the yield curve. "Data of late shows...that the economy is slowing while inflationary indicators are picking up," said Adam Mackillop, head of U.S. rates trading in Asia at Barclays Capital in Tokyo.
Read more at Reuters.com Bonds News
Dealers said ongoing pressure on prices as the U.S. economy stalls was likely to steepen the yield curve. "Data of late shows...that the economy is slowing while inflationary indicators are picking up," said Adam Mackillop, head of U.S. rates trading in Asia at Barclays Capital in Tokyo.
Read more at Reuters.com Bonds News
Crude Oil Trades Little Changed After Falling on Increased U.S. Supplies
(Bloomberg) -- Crude oil was little changed in New York after declining last week as higher stockpiles eased concerns about refiners' ability to meet gasoline demand during the peak summer driving season in the U.S.
Crude oil inventories have risen to a 17-week high after refinery maintenance and shutdowns cut demand. Gasoline inventories were 4 percent below their five-year average, the U.S. Energy Department reported April 11. Refineries operated at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, it said.
Read more at Bloomberg Energy News
Crude oil inventories have risen to a 17-week high after refinery maintenance and shutdowns cut demand. Gasoline inventories were 4 percent below their five-year average, the U.S. Energy Department reported April 11. Refineries operated at 88.4 percent of capacity in the week ended April 6, the highest since Jan. 5, it said.
Read more at Bloomberg Energy News
London Homeowners Reap $150,000 in a Year as U.K. Real Estate Prices Jump
(Bloomberg) -- London homeowners gained an average 76,000 pounds ($150,000) on the value of their property in the past year, triple the median salary, as U.K. house prices rose the most since 2003, the country's biggest property Web site said.
Asking prices for a home in the British capital reached an average 379,846 pounds in the four weeks through April 7, up 25 percent from a year earlier, Rightmove Plc said today. The cost of an average house in the U.K. rose 3.6 percent on the month and 15 percent from the previous year, the most in four years.
Read more at Bloomberg Bonds News
Asking prices for a home in the British capital reached an average 379,846 pounds in the four weeks through April 7, up 25 percent from a year earlier, Rightmove Plc said today. The cost of an average house in the U.K. rose 3.6 percent on the month and 15 percent from the previous year, the most in four years.
Read more at Bloomberg Bonds News
U.S. Note Yields Near Two-Month High on Concern Inflation Still a Threat
(Bloomberg) -- U.S. 10-year Treasury yields held at a two-month high on expectations government reports on retail sales and consumer prices this week will reinforce Federal Reserve concerns that inflation is too fast.
``Bond yields should be higher by the end of the week,'' said Michael Thomas, head of economics and strategy at ICAP Australia Ltd. in Sydney. ``U.S. inflation is being stubborn. It's not coming down.''
Read more at Bloomberg Bonds News
``Bond yields should be higher by the end of the week,'' said Michael Thomas, head of economics and strategy at ICAP Australia Ltd. in Sydney. ``U.S. inflation is being stubborn. It's not coming down.''
Read more at Bloomberg Bonds News
Goldman's Blankfein Mimics Schwarzman as LBO Growth Beats Securities Gains
(Bloomberg) -- As the leveraged-buyout giant Blackstone Group LP rushes to imitate the most powerful securities firms with an improbable initial public offering, Goldman Sachs Group Inc. is leading the drive on Wall Street to embrace Blackstone as the model for making money.
Until Blackstone disclosed last month that it was planning an IPO, it was considered illogical for private-equity partnerships to surrender their secrecy. Most of Blackstone's earnings come from leveraged buyouts and real estate, and Goldman increasingly is relying on revenue from similar investments to boost profit rather than fees from advising companies on mergers and selling stocks and bonds.
Read more at Bloomberg Exclusive News
Until Blackstone disclosed last month that it was planning an IPO, it was considered illogical for private-equity partnerships to surrender their secrecy. Most of Blackstone's earnings come from leveraged buyouts and real estate, and Goldman increasingly is relying on revenue from similar investments to boost profit rather than fees from advising companies on mergers and selling stocks and bonds.
Read more at Bloomberg Exclusive News
Everbright Bank buying into Prudential China fund JV
(Reuters) - Beijing-based Everbright Group is the parent of financial service conglomerate China Everbright Ltd.
Prudential Financial now has a 33 percent stake in Everbright Pramerica, which currently manages four mutual funds worth about 2.2 billion yuan in total.
Read more at Reuters.com Mergers News
Prudential Financial now has a 33 percent stake in Everbright Pramerica, which currently manages four mutual funds worth about 2.2 billion yuan in total.
Read more at Reuters.com Mergers News
ABN gives early Q1 numbers as merger talks intensify
(Reuters) - ABN AMRO said it issued the summary of results ahead of its scheduled April 26 earnings announcement "in light of recent developments and in order to be fully transparent."
ABN and Barclays entered merger talks last month after ABN came under pressure from investors, including British hedge fund TCI, to consider a sale or breakup to boost shareholder returns after several years of underperformance.
Read more at Reuters.com Mergers News
ABN and Barclays entered merger talks last month after ABN came under pressure from investors, including British hedge fund TCI, to consider a sale or breakup to boost shareholder returns after several years of underperformance.
Read more at Reuters.com Mergers News
Iceland's David Oddsson Says Krona Will Depreciate `Sooner or Later'
(Bloomberg) -- Icelandic central bank Governor David Oddsson, who reduced business regulations across the economy when he was prime minister, comments on Iceland's inflation, current-account deficit, interest rates and the krona.
Oddsson spoke in an interview today on the sidelines of the spring meetings of the International Monetary Fund in Washington.
Read more at Bloomberg Currencies News
Oddsson spoke in an interview today on the sidelines of the spring meetings of the International Monetary Fund in Washington.
Read more at Bloomberg Currencies News
South Korean Shares Rise to Record; LG Petrochemical Leads Gains on Profit
(Bloomberg) -- South Korean stocks rose, set for a record close. LG Petrochemical Co. led chemicals makers higher after reporting first-quarter profit almost tripled on stronger demand and Hyundai Securities Co. raised this year's earnings estimate by 11 percent.
``Today we have positive earnings from LG Petrochemical along with positive comments from analysts,'' said Hong Seung Wan, who manages about $430 million at Woori Credit Suisse Asset Management Co. in Seoul. ``Earnings growth may slow this year but valuations are still attractive compared with other sectors.''
Read more at Bloomberg Stocks News
``Today we have positive earnings from LG Petrochemical along with positive comments from analysts,'' said Hong Seung Wan, who manages about $430 million at Woori Credit Suisse Asset Management Co. in Seoul. ``Earnings growth may slow this year but valuations are still attractive compared with other sectors.''
Read more at Bloomberg Stocks News
Axa, EADS, Eiffage, Klepierre and Neuf Cegetel: French Equity Preview
(Bloomberg) -- The following stocks may rise or fall on the Paris stock exchange today. Symbols are in parentheses after company names. Prices are from the April 13 close.
The benchmark CAC 40 Index added 40.40, or 0.7 percent, to 5789.34, bringing the gains for the week to 0.8 percent, its second straight weekly gain. The SBF 120 Index rose 0.6 percent.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index added 40.40, or 0.7 percent, to 5789.34, bringing the gains for the week to 0.8 percent, its second straight weekly gain. The SBF 120 Index rose 0.6 percent.
Read more at Bloomberg Stocks News
SR Telecom, Clearwater Seafoods Income Fund: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets April 16. This preview includes news that broke after markets closed today. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index rose 78.97, or 0.6 percent, to 13578.62.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index rose 78.97, or 0.6 percent, to 13578.62.
Read more at Bloomberg Stocks News
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