WPP Q1 like-for-like revenues up 4.3 pct

(Reuters) - WPP said the full-year operating margin was in line with its target of 15 percent.




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Localiza Rent a Car, Petrobras abd Telmex: Latin American Equity Preview

(Bloomberg) -- The following stocks may make significant gains or losses in Brazil, Colombia and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session. In Brazil, preferred shares are the most commonly traded class of stock.

Brazil


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UPDATE 1-Alliance Boots agrees $21 bln bid from KKR, Pessina

(Reuters) - Private equity group Kohlberg Kravis Roberts [KKR.UL] and Pessina, who is deputy chairman of Alliance Boots and its biggest shareholder, said on Friday they would pay 1,090 pence a share in cash, up from their previous offer of 1,040 pence.

This is 33.7 percent above the company's closing share price on March 8, the day before it said it had received a bid approach, and makes it Europe's biggest ever leveraged buyout.


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S.Africa's Wesizwe says in talks on possible buy

(Reuters) - South African platinum miner Wesizwe Platinum Ltd is in talks on a potential acquisition, the group said on Friday.

Wesizwe gave no further details but said in a statement that shareholders should exercise caution when dealing in the company's stock.


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India's IDBI to Boost Bond Sale By 50 Percent to $1.5 Billion to Expand

(Bloomberg) -- Industrial Development Bank of India Ltd., the nation's seventh biggest by assets, plans to increase its overseas bond sales by 50 percent to $1.5 billion over the coming year to meet credit demand and fund expansion, Deputy Managing Director O.V. Bundellu said.

The bank plans its first bond sale under a medium-term note program in the next few months, Bundellu said in an interview on April 18. It will decide on the details after it announces today its financial results for the year ended March 31, he said. The bank initially planned to raise $1 billion under the program.


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China Stocks Rally From Biggest Decline in Seven Weeks; Tsingtao Gains

(Bloomberg) -- China's stocks rebounded from the biggest slide in seven weeks, supported by corporate earnings, as some investors judged yesterday's slump excessive.

The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, climbed 125.69, or 4 percent, to 3276.00 as of 1:36 p.m. local time, set for the biggest one-day gain since Jan. 22. It tumbled 4.7 percent yesterday on concern rapid growth will prompt the government to raise interest rates.


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Euroshop, SAP, Siemens and Volkswagen Shares: German Stock Market Preview

(Bloomberg) -- The following stocks may rise or fall in German markets.

Germany's X-DAX Index was little changed at 7248.41. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX fell 0.5 percent to 7242.73 on the Xetra electronic-trading system.


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S&P 500 Falls on Marriott Forecast; Dow Rises to Second Straight Record

(Bloomberg) -- The Standard & Poor's 500 Index dropped for the second time this month, buffeted by consumer shares, after Marriott Corp. cut its revenue forecast.

The Nasdaq Composite Index fell a third day, while pharmaceutical companies carried the Dow Jones Industrial Average to a second consecutive record after Merck Co. forecast profit that may beat analysts' estimates.


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Former Qwest CEO guilty on 19 insider trade counts

(Reuters) - Nacchio, 57, was acquitted of 23 of the 42 insider trading charges. Federal prosecutors had accused him of selling $101 million of Qwest shares after company insiders warned him that the phone carrier could not meet its financial forecasts.

The 19 guilty charges corresponded to stock sales worth more than $50 million in April and May of 2001.


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Philippine Bonds Drop, Peso Advances, as Central Bank Curbs Money Supply

(Bloomberg) -- Philippine bonds fell, the biggest fluctuation among government debt markets today, after the central bank introduced new rules to curb growth in money supply. The peso strengthened.

Five-year bonds fell the most in at least a month after Bangko Sentral ng Pilipinas yesterday expanded access to its deposit accounts with higher interest rates to government pension funds, state-owned companies and some investment trusts. They were previously available only to banks. The central bank held its overnight policy rate at 7.5 percent and maintained lower payments for larger deposits.


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UPDATE 1-India Wipro Q4 profit beats fcasts, outlook rosy

(Reuters) - Wipro expects a 33 percent jump in the April-June revenue from global information technology services at $711 million as customers pay 3-5 percent higher fees for services.

The firm said higher billing rates in the January-March quarter helped offset wage rise and currency appreciation, but said the rising rupee was a concern.


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Telefonica's Airwave sale fuels Telecom Italia talk

(Reuters) - By Ben Harding

MADRID, April 19 - Acquisitive Spanish carrier Telefonica raised almost 3 billion euros on Thursday, days before a deadline expires for an arch-rival to buy into long-courted neighbour Telecom Italia .


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US 30-year mortgage rates drop in week

(Reuters) - The costs of mortgages remained well below their year-ago levels, when 30-year mortgages averaged 6.53 percent, 15-years were 6.17 percent, and the one year ARM was 5.63 percent.

Frank Nothaft, Freddie Mac vice president and chief economist, said indications that the United States is experiencing little inflation helped push the rates down. On Tuesday, the Labor Department reported that consumer prices only rose 0.6 percent in March and on April 13 it reported that producer prices rose 1 percent that month.


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Google's Spending Draws Investor Scrutiny as Revenue, Profit Growth Slow

(Bloomberg) -- Google Inc. had carte blanche to spend on computers, acquisitions and research as it racked up the fastest sales growth in the Internet search industry. Now it's time to spend less and earn more, some investors say.

``Profits have moved up in people's minds in importance,'' said Greg Barlage, an analyst at Boston-based Baring Asset Management, which oversees $35 billion including Google shares. ``You need to see margins firming and hopefully expanding at some point.''


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OptionsXpress posts higher quarterly profit

(Reuters) - Revenue grew 18 percent to a record $54.7 million but was below the average Wall Street forecast of $56.44 million.




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Ultratech posts first-quarter loss

(Reuters) - Analysts on average expected a loss of 18 cents a share, before exceptional items, on revenue of $25.9 million, according to Reuters Estimates.




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HNI profit falls 27 percent

(Reuters) - Analysts had forecast earnings of 45 cents a share, according to Reuters Estimates.




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Genuine Parts quarterly earnings rise 6.7 percent

(Reuters) - Analysts on average expected Atlanta-based Genuine Parts to report earnings of 72 cents per share, according to Reuters Estimates.




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Sherwin-Williams quarterly profit slips

(Reuters) - CHICAGO, April 19 - Sherwin-Williams Co. , the largest U.S. paint maker, posted a slightly lower quarterly profit on Thursday as softer consumer demand hurt sales.

The Cleveland-based maker of Dutch Boy, Krylon and Duron paints said it expected profit to rise in the current quarter and for the full year, but those results could fall short of Wall Street's expectations.


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UPDATE 1-PPG Industries quarterly net climbs 5 percent

(Reuters) - Net income increased to $194 million, or $1.17 per share, from $184 million, or $1.11 per share, a year earlier.

The results included charges of 3 cents a share in the latest quarter and 17 cents in the year-earlier period.


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US STOCKS-Wall St seen down on China rate worries

(Reuters) - NEW YORK, April 19 - U.S. stocks were headed for a sharp drop at Thursday's open as investors worried that faster Chinese economic growth may trigger interest rate increases, battering global equities a day after the Dow hit a record.

In company news, Bank of America Corp. said profit fell in the bank's three main business lines. In Germany its shares fell 1.6 percent.


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TREASURIES-Bonds add gains after jobless claims data

(Reuters) - Benchmark 10-year notes were up 4/32 in price for a yield of 4.64 percent versus 4.65 percent shortly prior to the release of the claims data. Ten-year yields were at 4.66 percent late Wednesday.

Bond prices and yields move inversely.


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US STOCKS-Futures slide on China, jobless data

(Reuters) - NEW YORK, April 19 - U.S. stocks were set for a sharply lower open on Thursday on worries that China may have to raise interest rates to cool off its economy and that jobless claims data suggests weakness in the U.S. labor market.

In company news, Bank of America Corp. said profit fell in the bank's three main business lines. For details see [ID:nN19359518]. In Germany its shares fell 1.6 percent.


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US STOCKS-Wall St indexes drop at open on China

(Reuters) - The Dow Jones industrial average was down 66.24 points, or 0.52 percent, at 12,737.60. The Standard & Poor's 500 Index was down 6.61 points, or 0.45 percent, at 1,465.89. The Nasdaq Composite Index was down 17.96 points, or 0.72 percent, at 2,492.54.




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Higher fares boost Continental, Southwest profits

(Reuters) - Continental's results topped expectations and were the company's first profit for the March quarter since 2001.

Both airlines charged higher ticket prices than they did in first quarter 2006.


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Watsco first-quarter earnings fall

(Reuters) - Analysts on average were expecting 42 cents a share, excluding exceptional items, according to Reuters Estimates.




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UPDATE 1-Webster Financial first-quarter profit falls

(Reuters) - The Waterbury, Connecticut-based bank holding company said it earned $35 million, or 62 cents a share, in the latest first quarter, compared with year-ago earnings of $43.9 million, or 82 cents a share. The latest first-quarter results include charges of 11 cents a share.

Analysts on average expected the company to earn 77 cents a share, excluding special items, according to Reuters Estimates.


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UPDATE 1-Pathmark posts fourth-quarter profit

(Reuters) - The company cited improvement in gross profit generated primarily from its merchandising initiatives as well as lower inventory shrink.

Pathmark also benefited from lower expenses due to its labor and expense control initiatives.


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Hercules preliminary Q1 earnings, revenue rise

(Reuters) - The latest quarter earnings included 41 cents per share from the resolution of IRS audit issues for the years 1993 through 2003, it said.




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UPDATE 1-Hercules preliminary Q1 earnings, revenue rise

(Reuters) - For the first quarter, the company earned 64 cents per share on revenue of $502.3 million, compared with 13 cents per share in the year ago period, the chemicals maker said in its preliminary results statement.

The latest quarter included 41 cents per share from the resolution of U.S. Internal Revenue Service audit issues for 1993 through 2003, it said.


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Gold off 11-month high after China fall

(Reuters) - Gold fell from a new 11-month high on Thursday after Chinese stocks plunged on fears the country's economy was overheating, analysts said.

Spot gold rose as high as $691.50 per ounce, beating an 11-month high of $691 on April 16, but slipped after 4 percent was wiped off Chinese stocks as markets worried new inflation data would prompt the central bank to raise interest rates.


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Airvana files with SEC for $75 million IPO

(Reuters) - Chelmsford, Massachusetts-based Airvana has applied to list its stock on the Nasdaq under the symbol "AIRV" .




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Experian to buy Web market data firm Hitwise

(Reuters) - LONDON, April 19 - British-based credit information firm Experian said on Thursday it was buying Internet marketing intelligence firm Hitwise for about $240 million in cash.

Experian said it was buying privately owned Hitwise, which helps clients from banking group HSBC to furniture retailer IKEA to monitor the performance of their websites and target online advertising spending, from its management and other unidentified backers.


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Platinum Falls From 5-Month High on Decline in Asian Stocks, Gain in Yen

(Bloomberg) -- Platinum declined after reaching a five-month high as the yen's gain against the dollar and a fall in equity markets prompted some investors to sell. Platinum futures in Tokyo declined after climbing to a record.

China's benchmark CSI 300 Index fell 4.7 percent, the most since Feb. 27, before the government said the economy expanded a faster-than-expected 11.1 percent in the first quarter. The report suggested that interest rates may need to rise further to prevent overheating.


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German Producer-Price Inflation Slows to Two-Year Low as Energy Costs Drop

(Bloomberg) -- German producer-price inflation, an early indicator of price pressure in an economy, slowed to the lowest rate in more than two years in March after energy costs dropped.

The price of goods from plastics to newsprint increased 2.5 percent from a year earlier, after rising 2.8 percent in February, the Federal Statistics Office in Wiesbaden said today. That's the lowest since September 2004. Economists expected a rate of 2.7 percent, the median of 28 forecasts in a Bloomberg News survey shows. Prices increased 0.3 percent from a month earlier.


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China Wen says steps needed to avert overheating

(Reuters) - Wen's comments were released shortly after the National Bureau of Statistics said that gross domestic product had grown by 11.1 percent from a year earlier in the first quarter.




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Saudi Billionaire Maan Al-Sanea Plans to Borrow as Much as $5 Billion

(Bloomberg) -- Maan al-Sanea, the Saudi billionaire who is the second-biggest shareholder in HSBC Holdings Plc, plans to borrow $5 billion to help finance real- estate purchases and investments.

Saad Trading Contracting & Financial Services Co., one of al-Sanea's Saad Group of companies based in al-Khobar, Saudi Arabia, will borrow $5 billion within a 20-year plan ``to diversify its investments inside and outside the kingdom,'' the company said in a statement e-mailed today.


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Germany's DAX Index Declines, Led by RWE, DaimlerChrysler, Deutsche Post

(Bloomberg) -- German stocks dropped, led by RWE AG, DaimlerChrysler AG and Deutsche Post AG.

The benchmark DAX Index lost 78.44, or 1.1 percent, to 7203.90 as of 9:04 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies also dropped 1.1 percent.


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European shares track Asian losses, China worries

(Reuters) - European stock markets fell in early trade on Thursday with miners heading losers and tracking sharp losses in Asian markets as data from China showed strong economic growth and underlined interest rate worries.

By 0710 GMT, the pan-European FTSEurofirst 300 index was down 0.9 percent at 1,551.3, after snapping a three-day winning run on Wednesday.


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Waterschapsbank, GE Capital, Portugal to Sell Debt: European Bond Alert

(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.

Investment-Grade Sales


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CORRECTED-Nikkei down 1.7 pct on higher yen, weak Asia stocks

(Reuters) - Expectations that Japanese companies will present conservative earnings forecasts for the current business year also prompted investor selling.

The Nikkei was down 295.36 points at 17,371.97, its lowest close since April 13. It was the largest daily fall since March 14.


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Koor to complete sale of Sheraton Moriah April 26

(Reuters) - The closing of the transaction is still subject to the fulfilment of certain conditions, Koor said in a statement.




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