(Reuters) - MELBOURNE, April 18 - Australian drinks company Coca-Cola Amatil Ltd. said on Wednesday it expected profit growth to improve this year and outlined plans to reduce its reliance on soft drinks and expand in beer, boosting its shares.
The company, which is 35 percent owned by Coca-Cola Co. , also confirmed it was considering selling its South Korean business after receiving strong interest from domestic and international players, and expected a short-list of bidders by the end of April.
Read more at Reuters.com Mergers News
Tuesday, April 17, 2007
Maybank May Set Price on $300 Million Islamic Notes: First Overseas Deal
(Bloomberg) -- Malayan Banking Bhd., Malaysia's biggest bank, may conduct its first overseas Islamic debt sale after pricing terms were sent to investors, a person with direct knowledge of the deal said.
The $300 million floating-rate notes maturing in 2017 are likely to be priced between 33 and 35 basis points above the six- month dollar London interbank offered rate, according to the person, who asked not to be identified before an official announcement. A basis point is 0.01 percentage point. Six-month Libor yielded 5.3716 percent today.
Read more at Bloomberg Bonds News
The $300 million floating-rate notes maturing in 2017 are likely to be priced between 33 and 35 basis points above the six- month dollar London interbank offered rate, according to the person, who asked not to be identified before an official announcement. A basis point is 0.01 percentage point. Six-month Libor yielded 5.3716 percent today.
Read more at Bloomberg Bonds News
European Government Bonds Decline on View ECB Will Keep Lifting Rates
(Bloomberg) -- European two-year government notes fell on expectations economic indicators will reinforce the case for higher interest rates in the euro region economy.
Benchmark debt fell for a fourth week after the European Central Bank stoked speculation it will lift borrowing costs by half a percentage point this year to as much as 4.25 percent. The ZEW Center for European Economic Research said yesterday its gauge of investor expectations in Germany surged to a 10-month high in April. ECB President Jean-Claude Trichet and council member Yves Mersch are scheduled to speak today.
Read more at Bloomberg Bonds News
Benchmark debt fell for a fourth week after the European Central Bank stoked speculation it will lift borrowing costs by half a percentage point this year to as much as 4.25 percent. The ZEW Center for European Economic Research said yesterday its gauge of investor expectations in Germany surged to a 10-month high in April. ECB President Jean-Claude Trichet and council member Yves Mersch are scheduled to speak today.
Read more at Bloomberg Bonds News
Platinum, Palladium Prices Little Changed as UBS Raises Price Forecasts
(Bloomberg) -- Platinum was little changed in Asia trade amid speculation the price of the metal will climb after analysts from UBS AG raised their forecast for the metal. Palladium was also little changed.
The price of platinum will rise to $1,350 an ounce in the next three months on expectations of increased investor demand, John Reade, head of metals strategy at the UBS Investment Bank unit in London, said in a report yesterday. The forecast was $50 higher than a previous estimate.
Read more at Bloomberg Commodities News
The price of platinum will rise to $1,350 an ounce in the next three months on expectations of increased investor demand, John Reade, head of metals strategy at the UBS Investment Bank unit in London, said in a report yesterday. The forecast was $50 higher than a previous estimate.
Read more at Bloomberg Commodities News
Carlyle hires banker to open debt business in Asia
(Reuters) - Carlyle's leveraged finance arm manages more than $8 billion in high yield, mezzanine and distressed funds in the U.S. and European markets.
Mason was managing director and co-head of syndicated and leveraged finance Asia Pacific at JPMorgan.
Read more at Reuters.com Bonds News
Mason was managing director and co-head of syndicated and leveraged finance Asia Pacific at JPMorgan.
Read more at Reuters.com Bonds News
TD Ameritrade posts lower earnings, cuts estimate
(Reuters) - The brokerage, whose shares fell 7.7 percent, said net income for the second quarter ended March 31 fell to $141.1 million, or 23 cents a share, from $172.8 million, or 30 cents a share a year before.
Analysts had on average expected earnings of 24 cents a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Analysts had on average expected earnings of 24 cents a share, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
U.K. Two-Year Note Yields Rise to 6 1/2-Year High as Inflation Accelerates
(Bloomberg) -- Yields on U.K. two-year government notes touched their highest in about 6 1/2 years after a report showed inflation in Europe's second-biggest economy unexpectedly quickened in March at the fastest pace in a decade.
Benchmark gilts slid by the most in more than two months as traders added to bets rising consumer prices will prompt the Bank of England to lift interest rates twice more this year. BOE Governor Mervyn King said in a letter policy makers ``must ensure'' price expectations in the U.K. will be ``anchored.'' Inflation erodes the value of fixed income assets.
Read more at Bloomberg Bonds News
Benchmark gilts slid by the most in more than two months as traders added to bets rising consumer prices will prompt the Bank of England to lift interest rates twice more this year. BOE Governor Mervyn King said in a letter policy makers ``must ensure'' price expectations in the U.K. will be ``anchored.'' Inflation erodes the value of fixed income assets.
Read more at Bloomberg Bonds News
AOL to announce five Web broadband deals
(Reuters) - The deals include partnerships with reality television guru Mark Burnett, Dreamworks Animation, "Big Brother" producer Endemol, Madison Road Entertainment, Stone & Co. and Telepictures.
The collaborations will feature games based on the hit animated monster movie "Shrek" and trivia quizzes from Burnett's "Gold Rush." A tie-in with popular talk show "The Ellen DeGeneres Show" will allow viewers to share their personal stories.
Read more at Reuters.com Business News
The collaborations will feature games based on the hit animated monster movie "Shrek" and trivia quizzes from Burnett's "Gold Rush." A tie-in with popular talk show "The Ellen DeGeneres Show" will allow viewers to share their personal stories.
Read more at Reuters.com Business News
WRAPUP 2-U.S. core inflation muted, homebuilding up
(Reuters) - WASHINGTON, April 17 - U.S. core inflation dipped in March and groundbreaking for new homes rose slightly as the economy demonstrated anew an ability to keep growing without generating surging prices.
The Labor Department on Tuesday said its monthly Consumer Price Index climbed 0.6 percent after a 0.4 percent February rise. But core prices, which exclude food and energy, were up only 0.1 percent after larger gains of 0.2 percent in February and 0.3 percent in January.
Read more at Reuters.com Bonds News
The Labor Department on Tuesday said its monthly Consumer Price Index climbed 0.6 percent after a 0.4 percent February rise. But core prices, which exclude food and energy, were up only 0.1 percent after larger gains of 0.2 percent in February and 0.3 percent in January.
Read more at Reuters.com Bonds News
FFCB sells $1.5 bln 3-year designated bonds
(Reuters) - The joint lead managers on the sale were Barclays Capital, Nomura Securities International and UBS Securities.
Settlement is April 23.
Read more at Reuters.com Bonds News
Settlement is April 23.
Read more at Reuters.com Bonds News
Campus gunman lived in U.S. since 1992: official
(Reuters) - Cho, a student of English literature at the university, was identified by police as the gunman responsible for Monday's killings -- the worst shooting rampage in U.S. history.
As a resident alien, commonly known as a green-card holder, Cho could live and work indefinitely in the United States, although he would not be able to vote or obtain a U.S. passport, Bentley said.
Read more at Reuters.com Bonds News
As a resident alien, commonly known as a green-card holder, Cho could live and work indefinitely in the United States, although he would not be able to vote or obtain a U.S. passport, Bentley said.
Read more at Reuters.com Bonds News
Germany's DAX Index Is Little Changed; BMW Declines as Volkswagen Climbs
(Bloomberg) -- Germany's benchmark stock index was little changed. Bayerische Motoren Werke AG dropped, while Volkswagen AG paced rising shares.
Premiere AG jumped the most in two months after Deutsche Bank AG recommended investors buy shares in Germany's biggest television company.
Read more at Bloomberg Stocks News
Premiere AG jumped the most in two months after Deutsche Bank AG recommended investors buy shares in Germany's biggest television company.
Read more at Bloomberg Stocks News
UPDATE 2-KKR, pension funds in talks to take BCE private
(Reuters) - Shares of BCE jumped 6.6 percent, or C$2.39, to C$38.65 on the Toronto Stock Exchange soon after the market opened. The stock has leapt more than 25 percent since March 28.
BCE, which has a market value of about C$29.3 billion , has long been one of Canada most widely-held companies, and taking it private would amount to the country's biggest buyout.
Read more at Reuters.com Mergers News
BCE, which has a market value of about C$29.3 billion , has long been one of Canada most widely-held companies, and taking it private would amount to the country's biggest buyout.
Read more at Reuters.com Mergers News
Investor confidence falls from March high-State St
(Reuters) - Regionally, the North American index sank to 100.2 from 114.5, previously 115.1. The Asian index also fell, to 83.2 from an upwardly revised 85.0, previously 82.8.
European investors were more buoyant with the regional index rising to 87.9 from 87.3, previously 87.4.
Read more at Reuters.com Bonds News
European investors were more buoyant with the regional index rising to 87.9 from 87.3, previously 87.4.
Read more at Reuters.com Bonds News
US STOCKS-Blue chips open higher on CPI, profits
(Reuters) - But rising crude oil prices and a report showing industrial production unexpectedly fell in March restrained gains in the broad market.
The Dow Jones industrial average was up 14.62 points, or 0.11 percent, at 12,735.08. The Standard & Poor's 500 Index was up 1.00 point, or 0.07 percent, at 1,469.47. The Nasdaq Composite Index was down 1.44 points, or 0.06 percent, at 2,516.89.
Read more at Reuters.com Bonds News
The Dow Jones industrial average was up 14.62 points, or 0.11 percent, at 12,735.08. The Standard & Poor's 500 Index was up 1.00 point, or 0.07 percent, at 1,469.47. The Nasdaq Composite Index was down 1.44 points, or 0.06 percent, at 2,516.89.
Read more at Reuters.com Bonds News
UPDATE 1-Affordable Residential to sell unit to Farallon
(Reuters) - Affordable Residential said last week it was in talks to sell nearly all of its assets to Farallon. The home parks company said it would retain ownership of the recently acquired NLASCO insurance operations, and it would seek to make acquisitions with the proceeds from the manufactured home deal.
The deal marks the latest real estate transaction for Farallon. The company has a stake in Accredited Home Lenders Holding Co., and recently joined with Simon Property Group to buy mall owner Mills Corp.
Read more at Reuters.com Mergers News
The deal marks the latest real estate transaction for Farallon. The company has a stake in Accredited Home Lenders Holding Co., and recently joined with Simon Property Group to buy mall owner Mills Corp.
Read more at Reuters.com Mergers News
EMC profit rises with software sales; shares gain
(Reuters) - By Jim Finkle
BOSTON, April 17 - EMC Corp. , the top maker of corporate data storage equipment, on Tuesday reported higher first-quarter profit, spurred by growth in software sales and its Asia business, sending its shares up 3 percent.
Read more at Reuters.com Mergers News
BOSTON, April 17 - EMC Corp. , the top maker of corporate data storage equipment, on Tuesday reported higher first-quarter profit, spurred by growth in software sales and its Asia business, sending its shares up 3 percent.
Read more at Reuters.com Mergers News
US Bancorp 1st-qtr profit falls 2 pct
(Reuters) - NEW YORK, April 17 - U.S. Bancorp. , the sixth-largest U.S. bank, on Tuesday said first-quarter profit fell 2 percent, hurt by a declining net interest margin that crimped lending income.
Net income for the Minneapolis-based company fell to $1.13 billion from $1.15 billion a year earlier. Profit was 63 cents per share in both periods.
Read more at Reuters.com Market News
Net income for the Minneapolis-based company fell to $1.13 billion from $1.15 billion a year earlier. Profit was 63 cents per share in both periods.
Read more at Reuters.com Market News
UPDATE 1-Merck submits application for new Gardasil use
(Reuters) - Gardasil is approved as a vaccination against four strains of the human papillomavirus, or HPV, including those considered responsible for roughly 70 percent of cervical cancer.
Merck said its new submission includes efficacy data showing some protection against additional cervical cancer-causing HPV types, and data on protection against vaginal and vulvar cancers.
Read more at Reuters.com Market News
Merck said its new submission includes efficacy data showing some protection against additional cervical cancer-causing HPV types, and data on protection against vaginal and vulvar cancers.
Read more at Reuters.com Market News
Germany's DAX Index Rebounds; Volkswagen, E.ON, TUI Shares Pace the Gain
(Bloomberg) -- Germany's benchmark stock index recovered earlier losses as Volkswagen AG, E.ON AG and TUI AG paced the advance.
The DAX Index added 6.88, or 0.1 percent, to 7344.94 as of 2:37 p.m. in Frankfurt after losing as much as 0.6 percent. The HDAX Index of the country's 110 biggest companies climbed 0.1 percent.
Read more at Bloomberg Stocks News
The DAX Index added 6.88, or 0.1 percent, to 7344.94 as of 2:37 p.m. in Frankfurt after losing as much as 0.6 percent. The HDAX Index of the country's 110 biggest companies climbed 0.1 percent.
Read more at Bloomberg Stocks News
U.S. Stock-Index Futures Advance After Core Inflation, Housing Starts Data
(Bloomberg) -- U.S. stock-index futures advanced after government data showed inflation and the housing slump are easing and earnings beat analysts' estimates.
Coca-Cola Co., the world's largest soft-drink maker, rose after its biggest sales gain in at least nine years boosted first-quarter net income. Wells Fargo & Co. climbed after posting a record profit on borrowing by businesses.
Read more at Bloomberg Stocks News
Coca-Cola Co., the world's largest soft-drink maker, rose after its biggest sales gain in at least nine years boosted first-quarter net income. Wells Fargo & Co. climbed after posting a record profit on borrowing by businesses.
Read more at Bloomberg Stocks News
Wells Fargo profit rises 11 pct
(Reuters) - Analysts on average forecast profit of 65 cents per share, according to Reuters Estimates.
Revenue rose 10 percent to $9.44 billion, topping forecasts for $9.31 billion, while operating expenses rose 9 percent to $5.53 billion. Average loans grew 3 percent from a year earlier.
Read more at Reuters.com Business News
Revenue rose 10 percent to $9.44 billion, topping forecasts for $9.31 billion, while operating expenses rose 9 percent to $5.53 billion. Average loans grew 3 percent from a year earlier.
Read more at Reuters.com Business News
Scolr says pain drug effective
(Reuters) - The company said it had reacquired all rights to use its technology for products containing ibuprofen, following Wyeth's termination of a license agreement.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Pound Gains to $2, First Time in 15 Years, as Inflation Hits 3.1 Percent
(Bloomberg) -- The pound leapt to $2 for the first time in 15 years as a U.K. report showed inflation unexpectedly quickened to a decade high, prompting traders to bet the Bank of England will raise interest rates twice more this year.
The U.K. pound reached the strongest since September 1992, when billionaire investor George Soros and other speculators drove the currency out of the European system of linked exchange rates. Britain's economy, Europe's second-biggest, has shown few signs of cooling after three rate increases since early August. Another quarter-point move would take borrowing costs to 5.5 percent, the highest among the Group of Seven major economies.
Read more at Bloomberg Currencies News
The U.K. pound reached the strongest since September 1992, when billionaire investor George Soros and other speculators drove the currency out of the European system of linked exchange rates. Britain's economy, Europe's second-biggest, has shown few signs of cooling after three rate increases since early August. Another quarter-point move would take borrowing costs to 5.5 percent, the highest among the Group of Seven major economies.
Read more at Bloomberg Currencies News
UPDATE 1-Jefferies Group quarterly earnings rise
(Reuters) - The New York-based company said first-quarter profit increased to $62.3 million, or 42 cents a share, from $58.4 million, or 41 cents a share a year earlier.
Analysts on average had expected earnings of 40 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected earnings of 40 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Fremont CEO sold $2.5 mln in shares ahead of slump
(Reuters) - According to the Form 4 filing with the U.S. Securities and Exchange Commission, Rampino directly owns 632,484 shares, worth $5.6 million at the close of Monday New York Stock Exchange trading. Rampino also has 176,662 shares, worth $1.6 million, held in 401, employee stock-option and excess benefit plans.
Representatives of Santa Monica-based Fremont were not immediately available for comment.
Read more at Reuters.com Bonds News
Representatives of Santa Monica-based Fremont were not immediately available for comment.
Read more at Reuters.com Bonds News
Housing starts rose 0.8 percent in March
(Reuters) - Building permits, which signal future construction plans, also rose 0.8 percent to a 1.544 million unit pace. Economists were expecting building permits to register a 1.510 million unit pace, down from the 1.532 million in February.
Last month's permits figure was off 25.9 percent from the March 2006 pace of 2.085 million units.
Read more at Reuters.com Economic News
Last month's permits figure was off 25.9 percent from the March 2006 pace of 2.085 million units.
Read more at Reuters.com Economic News
Germany's DAX Index Slides, Led by BMW, Commerzbank; Premiere Shares Jump
(Bloomberg) -- Germany's benchmark DAX Index fell after yesterday touching its highest since September 2000. Bayerische Motoren Werke AG and Commerzbank AG led the decline.
Premiere AG jumped the most in two months after Deutsche Bank AG raised its recommendation on the shares.
Read more at Bloomberg Stocks News
Premiere AG jumped the most in two months after Deutsche Bank AG raised its recommendation on the shares.
Read more at Bloomberg Stocks News
Traders see US March core CPI up 0.2 pct in auction
(Reuters) - The core CPI rose 0.2 percent in February.
The U.S. Labor Department will issue its March CPI data including the core rate at 8:30 a.m. .
Read more at Reuters.com Economic News
The U.S. Labor Department will issue its March CPI data including the core rate at 8:30 a.m. .
Read more at Reuters.com Economic News
TREASURIES-Bonds under pressure, wary of inflation jump
(Reuters) - Nyk yield Three-month bills 4.87 4.995 Six-month bills 4.88 5.080 Two-year note 99-17/32 4.762 Five-year note 99-06/32 4.684 10-year note 99-01/32 4.751 30-year bond 97-19/32 4.904
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
U.S. Treasuries Drop Before Report Expected to Show Quickening Inflation
(Bloomberg) -- U.S. Treasuries fell before a report that's expected to show consumer price growth accelerated in March, reinforcing the Federal Reserve's view that inflation remains a threat.
The yield on benchmark 10-year notes, which are among the most sensitive to investors' perceptions of future inflation, stayed near a two-month high reached last week. Traders scaled back expectations the Fed will lower interest rates after minutes from the most recent policy meeting suggested the bank is more concerned about inflation than slowing economic growth.
Read more at Bloomberg Bonds News
The yield on benchmark 10-year notes, which are among the most sensitive to investors' perceptions of future inflation, stayed near a two-month high reached last week. Traders scaled back expectations the Fed will lower interest rates after minutes from the most recent policy meeting suggested the bank is more concerned about inflation than slowing economic growth.
Read more at Bloomberg Bonds News
UPDATE 1-EMC reports higher quarterly profit
(Reuters) - First-quarter net income rose to $312.6 million, or 15 cents per share, from $272.5 million, or 11 cents, a year earlier. Revenue rose to $2.98 billion from $2.55 billion.
The Hopkinton, Massachusetts-based company said earnings excluding one-times items totaled 14 cents a share. On that basis, analysts were expecting 13 cents, according to Reuters Estimates.
Read more at Reuters.com Market News
The Hopkinton, Massachusetts-based company said earnings excluding one-times items totaled 14 cents a share. On that basis, analysts were expecting 13 cents, according to Reuters Estimates.
Read more at Reuters.com Market News
EMC reports higher quarterly profit
(Reuters) - The Hopkinton, Massachusetts-based company said earnings excluding one-times items totaled 14 cents a share. On that basis, analysts were expecting 13 cents, according to Reuters Estimates.
EMC's growth is being fueled by sales of software products that it has acquired over the past few years. For example, 2006 fourth-quarter revenue at its VMware software unit doubled from a year earlier. Its programs helps companies boost efficiency of corporate data centers, allowing them to save money on hardware, maintenance and other costs.
Read more at Reuters.com Business News
EMC's growth is being fueled by sales of software products that it has acquired over the past few years. For example, 2006 fourth-quarter revenue at its VMware software unit doubled from a year earlier. Its programs helps companies boost efficiency of corporate data centers, allowing them to save money on hardware, maintenance and other costs.
Read more at Reuters.com Business News
KeyCorp 1st-qtr profit rises 21 pct, cuts forecast
(Reuters) - NEW YORK, April 17 - KeyCorp , a large U.S. Midwest bank, on Tuesday said first-quarter profit rose 21 percent, helped by a gain from the sale of its McDonald Investments branch network.
The Cleveland-based company also lowered its full-year profit forecast, citing a difficult interest-rate environment.
Read more at Reuters.com Mergers News
The Cleveland-based company also lowered its full-year profit forecast, citing a difficult interest-rate environment.
Read more at Reuters.com Mergers News
Copper rally stalls as dollar steadies
(Reuters) - Copper slipped on Tuesday as the dollar steadied after recent falls and the market shrugged off the possibility of supply disruptions from Indonesia, while tin hit a new record high.
Generally softer base metal prices and a weaker tone on equity markets weighed on mining stocks. London-listed Vedanta Resources, Kazakhmys, BHP Billiton and Rio Tinto were all down around two percent.
Read more at Reuters Africa
Generally softer base metal prices and a weaker tone on equity markets weighed on mining stocks. London-listed Vedanta Resources, Kazakhmys, BHP Billiton and Rio Tinto were all down around two percent.
Read more at Reuters Africa
U.K. 10-Year Bond Yields Rise to 2 1/2-Year High as Inflation Accelerates
(Bloomberg) -- Yields on U.K. 10-year government bonds touched their highest in more than 2 1/2 years after a report showed inflation in Europe's second-biggest economy unexpectedly quickened in March to 3.1 percent, the fastest pace in a decade.
Benchmark gilts slid by the most in more than two months as traders added to bets rising consumer prices will prompt the Bank of England to lift interest rates twice more this year. BOE Governor Mervyn King said in a letter policy makers ``must ensure'' price expectations in the U.K. will be ``anchored.'' Inflation erodes the value of fixed income assets.
Read more at Bloomberg Bonds News
Benchmark gilts slid by the most in more than two months as traders added to bets rising consumer prices will prompt the Bank of England to lift interest rates twice more this year. BOE Governor Mervyn King said in a letter policy makers ``must ensure'' price expectations in the U.K. will be ``anchored.'' Inflation erodes the value of fixed income assets.
Read more at Bloomberg Bonds News
UPDATE 1-KeyCorp 1st-qtr profit rises 21 pct, cuts forecast
(Reuters) - The Cleveland-based company also lowered its full-year profit forecast, citing a difficult interest-rate environment.
Net income rose to $350 million, or 87 cents per share, from $289 million, or 70 cents, a year earlier. Profit from continuing operations was $358 million, or 89 cents per share.
Read more at Reuters.com Market News
Net income rose to $350 million, or 87 cents per share, from $289 million, or 70 cents, a year earlier. Profit from continuing operations was $358 million, or 89 cents per share.
Read more at Reuters.com Market News
China shares mixed, index down as financials sag
(Reuters) - The Shanghai Composite Index was at 3,575.415 points at midday after setting an all-time high of 3,622.888 earlier in the day. Gainers narrowly outnumbered losers by 467 to 417.
Turnover in Shanghai A shares was very heavy at 87.3 billion yuan , up from 76 billion yuan on Monday morning.
Read more at Reuters.com Hot Stocks News
Turnover in Shanghai A shares was very heavy at 87.3 billion yuan , up from 76 billion yuan on Monday morning.
Read more at Reuters.com Hot Stocks News
UPDATE 2-Comstar reports Q4 loss after taking charges
(Reuters) - MOSCOW, April 17 - Russian fixed-line operator Comstar reported on Tuesday a fourth-quarter loss of $63.1 million after taking charges linked to an executive bonus scheme and an acquisition.
The results marked continuing earnings volatility at Comstar since it raised nearly $1 billion in an IPO on the London Stock Exchange over a year ago, as the company restructured its operations and brought in new management.
Read more at Reuters.com Market News
The results marked continuing earnings volatility at Comstar since it raised nearly $1 billion in an IPO on the London Stock Exchange over a year ago, as the company restructured its operations and brought in new management.
Read more at Reuters.com Market News
German Power Prices for 2008 Drop as Carbon Dioxide Emissions Permits Fall
(Bloomberg) -- German power prices for next year fell after European Union carbon dioxide allowance contracts declined, reducing the costs of burning fossil fuels such as coal.
Power for 2008 delivery in Germany, Europe's biggest market, fell for a second day, declining 0.3 percent, or 15 cents, to 54.20 euros ($73.44) a megawatt-hour, according to prices from broker GFI published on Bloomberg at 10:23 a.m. Berlin time.
Read more at Bloomberg Energy News
Power for 2008 delivery in Germany, Europe's biggest market, fell for a second day, declining 0.3 percent, or 15 cents, to 54.20 euros ($73.44) a megawatt-hour, according to prices from broker GFI published on Bloomberg at 10:23 a.m. Berlin time.
Read more at Bloomberg Energy News
Copper Drops on Speculation U.S. Use to Weaken; Tin Trades at 18-Year High
(Bloomberg) -- Copper dropped in London for the first time in three trading sessions on speculation consumption in the U.S., the world's second-largest user of the metal, will weaken on lower housing demand. Tin traded at an 18-year high.
An index of U.S. homebuilders' confidence fell to the lowest level of the year this month, the Washington-based National Association of Home Builders said yesterday. A report on March housing starts, due today, may indicate a decline, a Bloomberg survey showed.
Read more at Bloomberg Commodities News
An index of U.S. homebuilders' confidence fell to the lowest level of the year this month, the Washington-based National Association of Home Builders said yesterday. A report on March housing starts, due today, may indicate a decline, a Bloomberg survey showed.
Read more at Bloomberg Commodities News
U.S. Stock-Index Futures Decline; IBM and Yahoo Retreat Before Earnings
(Bloomberg) -- U.S. stock-index futures dropped before a report that may show consumer prices in the country rose the most in almost a year, fueling concern the Federal Reserve may need to raise interest rates.
International Business Machines Corp., the world's largest computer-services company, and Yahoo! Inc., the owner of the most-visited U.S. Web site, declined before reporting first- quarter earnings.
Read more at Bloomberg Stocks News
International Business Machines Corp., the world's largest computer-services company, and Yahoo! Inc., the owner of the most-visited U.S. Web site, declined before reporting first- quarter earnings.
Read more at Bloomberg Stocks News
European Government Bonds Drop; German Confidence Climbs to 10-Month High
(Bloomberg) -- European government bonds dropped after a report showed confidence among investors in Germany, the region's biggest economy, rose to a 10-month high in April, adding to expectations for higher interest rates in Europe.
Benchmark debt fell for a fourth week after the European Central Bank reinforced speculation it may lift borrowing costs by half a percentage point this year. The ZEW Center for European Economic Research said its gauge of investor expectations surged to 16.5 from 5.8 in March. Economists had expected a gain to 10, according to a Bloomberg News survey.
Read more at Bloomberg Bonds News
Benchmark debt fell for a fourth week after the European Central Bank reinforced speculation it may lift borrowing costs by half a percentage point this year. The ZEW Center for European Economic Research said its gauge of investor expectations surged to 16.5 from 5.8 in March. Economists had expected a gain to 10, according to a Bloomberg News survey.
Read more at Bloomberg Bonds News
Philippine Bonds Rise on Speculation Rates Will Stay on Hold This Week
(Bloomberg) -- Philippine five-year bonds gained for a second day on speculation the central bank will keep interest rates on hold this week, easing concern that borrowing costs will rise. The peso strengthened.
Five-year debt climbed the most in three weeks after a government report yesterday showed remittances from overseas workers rose by a quarter in February from a year earlier, exceeding $1 billion for a 10th straight month. Central bank policy makers next meet on April 19 after keeping their key overnight policy rate unchanged since 2005 while lowering the rate on some larger deposits in November.
Read more at Bloomberg Bonds News
Five-year debt climbed the most in three weeks after a government report yesterday showed remittances from overseas workers rose by a quarter in February from a year earlier, exceeding $1 billion for a 10th straight month. Central bank policy makers next meet on April 19 after keeping their key overnight policy rate unchanged since 2005 while lowering the rate on some larger deposits in November.
Read more at Bloomberg Bonds News
Euro Trades at 15-Month High Against Dollar Before ZEW Sentiment Report
(Bloomberg) -- The euro was trading at a 15-month high against the dollar before today's report from the ZEW Center for European Economic Research that economists forecast will show German investor sentiment rose to a nine-month high.
The European common currency rose to a record against the yen yesterday after Group of Seven policy makers omitted to mention the yen and European officials said exchange rates aren't holding back their economies. The euro has outperformed both the yen and the dollar so far this year, returning 2.63 percent, Bloomberg data show.
Read more at Bloomberg Currencies News
The European common currency rose to a record against the yen yesterday after Group of Seven policy makers omitted to mention the yen and European officials said exchange rates aren't holding back their economies. The euro has outperformed both the yen and the dollar so far this year, returning 2.63 percent, Bloomberg data show.
Read more at Bloomberg Currencies News
S.Africa and other exporters seek removal of trade "barriers"
(Reuters) - Leading agriculture exporting countries began formal talks in Pakistan on Tuesday to push for deeper cuts in farm subsidies and removal of trade barriers in a global treaty currently under negotiation.
The meeting of the Cairns Group of 19 member states comes a week after the so-called Group of Six (G6) major trading powers -- Australia, Brazil, the European Union, India, Japan and the United States -- said in New Delhi that they would push for a new global free trade treaty by the end of this year.
Read more at Reuters Africa
The meeting of the Cairns Group of 19 member states comes a week after the so-called Group of Six (G6) major trading powers -- Australia, Brazil, the European Union, India, Japan and the United States -- said in New Delhi that they would push for a new global free trade treaty by the end of this year.
Read more at Reuters Africa
Rupee Extends Month's Gain to 4.2 Percent on Speculation Exporters Buying
(Bloomberg) -- India's rupee rose for a fourth day, bringing its gains this month to 4.2 percent, on speculation exporters are rushing to buy the currency to protect earnings.
The rupee is the world's best-performing currency this month as foreign investors plough money into an economy growing at the fastest pace since 1989. The finance minister on April 15 said the rupee was ``still very competitive,'' suggesting the currency may be allowed to rise further.
Read more at Bloomberg Currencies News
The rupee is the world's best-performing currency this month as foreign investors plough money into an economy growing at the fastest pace since 1989. The finance minister on April 15 said the rupee was ``still very competitive,'' suggesting the currency may be allowed to rise further.
Read more at Bloomberg Currencies News
Gold in Asia Declines From Near 11-Month High on Dollar; Silver Weakens
(Bloomberg) -- Gold fell from a near 11-month high after the U.S. dollar strengthened in Asia, reducing the precious metal's appeal as an alternative investment. Silver also declined.
Gold, which generally moves in the opposite direction of the dollar, touched $691.26 yesterday, its highest since May 18, 2006, as the dollar fell to a two-year low against the euro on speculation European economic growth will outpace that of the U.S.
Read more at Bloomberg Commodities News
Gold, which generally moves in the opposite direction of the dollar, touched $691.26 yesterday, its highest since May 18, 2006, as the dollar fell to a two-year low against the euro on speculation European economic growth will outpace that of the U.S.
Read more at Bloomberg Commodities News
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