(Reuters) - OMX said earlier this month it was in cooperation talks with several exchanges, but that it had not received any bids, after Swedish media reported it was in talks with U.S. exchange Nasdaq .
The company, which owns and operates exchanges in Stockholm, Helsinki, Copenhagen, Reykjavik and the Baltic states, noted in its first-quarter report that consolidation was a trend in the industry.
Read more at Reuters.com Mergers News
Monday, April 23, 2007
Africa lacks jobs, especially for young - report
(Reuters) - Africa's jobless rate is nearly twice that of the rest of the world despite several years of rapid economic growth, according to a United Nations report released on Tuesday.
The International Labour Organisation (ILO) said African economies need to create 2 million more new jobs every year for their unemployment rate of 10.3 percent to fall to the global average of 6.3 percent by 2015, when the U.N.'s Millennium Development Goals on reducing poverty come due.
Read more at Reuters Africa
The International Labour Organisation (ILO) said African economies need to create 2 million more new jobs every year for their unemployment rate of 10.3 percent to fall to the global average of 6.3 percent by 2015, when the U.N.'s Millennium Development Goals on reducing poverty come due.
Read more at Reuters Africa
Oil giant BP Q1 profits fall on lower oil price
(Reuters) - Oil giant BP Plc said its first-quarter net profits fell 17 percent compared with the same period in 2006, and lagged forecasts slightly, as oil prices fell.
BP said in a statement on Tuesday that its replacement cost profit, which strips out the impact of changes in the value of fuel inventories, was $4.36 billion in the first quarter.
Read more at Reuters Africa
BP said in a statement on Tuesday that its replacement cost profit, which strips out the impact of changes in the value of fuel inventories, was $4.36 billion in the first quarter.
Read more at Reuters Africa
AB Foods H1 profits up, further rise seen in H2
(Reuters) - The London-based food and retailing group, 55 percent owned by the family of its Chief Executive George Weston, reported adjusted pre-tax profits of 268 million pounds for the 24 weeks to March 3 against analyst forecasts of 258-270 million pounds.
The group proposed a 4 percent increase in its half-year dividend to 6.5 pence a share.
Read more at Reuters.com Market News
The group proposed a 4 percent increase in its half-year dividend to 6.5 pence a share.
Read more at Reuters.com Market News
PREVIEW-Quanta Q1 profit to rise on healthy laptop demand
(Reuters) - * Earnings seen solid on healthy demand for laptop computers
By Sheena Lee
Read more at Reuters.com Market News
By Sheena Lee
Read more at Reuters.com Market News
Platinum, Palladium Decline in Asia Trade; Tokyo Futures Drop From Record
(Bloomberg) -- Platinum declined in Asian trade today while Tokyo futures dropped after yesterday reaching a record. Palladium also fell.
Platinum for immediate delivery fell $6.75, or 0.5 percent, to $1,317.50 an ounce at 3:00 p.m. in Sydney. It rose to $1,339 an ounce, its highest since Nov. 21, yesterday.
Read more at Bloomberg Commodities News
Platinum for immediate delivery fell $6.75, or 0.5 percent, to $1,317.50 an ounce at 3:00 p.m. in Sydney. It rose to $1,339 an ounce, its highest since Nov. 21, yesterday.
Read more at Bloomberg Commodities News
China stock index rises to record in hectic trade
(Reuters) - Turnover in Shanghai A shares expanded to 105.7 billion yuan from Monday morning's 101.1 billion yuan.
The index surged 3.53 percent on Monday and is up 30 percent since the end of February. The huge gains have left many analysts and investors expecting a sharp pull-back at some stage, but trade is so bullish that few want to sell now.
Read more at Reuters.com Hot Stocks News
The index surged 3.53 percent on Monday and is up 30 percent since the end of February. The huge gains have left many analysts and investors expecting a sharp pull-back at some stage, but trade is so bullish that few want to sell now.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Telefonica Chile Q1 net profit rises
(Reuters) - Profit at the company, a unit of Spain's Telefonica , was 40 percent higher than in the same period a year ago, when it was hit by a major restructuring charge.
But it was still far below a Reuters poll of five analysts who predicted average profit for Telefonica of 7.351 billion pesos between January and March.
Read more at Reuters.com Market News
But it was still far below a Reuters poll of five analysts who predicted average profit for Telefonica of 7.351 billion pesos between January and March.
Read more at Reuters.com Market News
Asian Energy Stocks Climb on Higher Oil Prices; Inpex Gains, Toyota Drops
(Bloomberg) -- Asian energy stocks rose after crude oil prices yesterday completed their biggest two-day gain in a month and Inpex Holdings Inc. reported earnings that beat the company's estimate.
Toyota Motor Corp. and Hynix Semiconductor Inc. declined on concern the jump in oil prices will boost fuel bills in the world's biggest economies, damping demand for Asian exports.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and Hynix Semiconductor Inc. declined on concern the jump in oil prices will boost fuel bills in the world's biggest economies, damping demand for Asian exports.
Read more at Bloomberg Stocks News
Cemex, PDG Realty, Tele Norte Leste, Telefonica CTC Chile: Latin Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil, Chile 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
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
Comdirect Bank, Continental, Gagfah, Software: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets.
Germany's X-DAX Index fell 0.4 percent to 7306.57. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX lost 0.1 percent to 7335.62 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Germany's X-DAX Index fell 0.4 percent to 7306.57. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX lost 0.1 percent to 7335.62 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Chicago Wheat Falls, Corn Rises on U.S. Crop Condition, Planting Reports
(Bloomberg) -- Chicago wheat futures fell for a second day after U.S. government reports showed the winter wheat crop in better condition than a year ago, allaying concern about damage from cold weather.
About 54 percent of winter wheat was in good or excellent condition as of April 22, down from 55 percent a week earlier and 71 percent when the crop was first rated on April 1, the U.S. Agriculture Department said yesterday in a report. A year earlier, just 39 percent of the crop got the top ratings after months of drought on the southern Great Plains.
Read more at Bloomberg Commodities News
About 54 percent of winter wheat was in good or excellent condition as of April 22, down from 55 percent a week earlier and 71 percent when the crop was first rated on April 1, the U.S. Agriculture Department said yesterday in a report. A year earlier, just 39 percent of the crop got the top ratings after months of drought on the southern Great Plains.
Read more at Bloomberg Commodities News
Nikkei down as Kao declines, trade remains slow
(Reuters) - Trade remained thin, with investors taking a cautious tack ahead of a flood of corporate earnings results and the "Golden Week" series of national holidays next week in Japan.
Canon Inc. , Fanuc Ltd. , KDDI Corp. and Elpida Memory Inc. are among the companies due to report earnings on Tuesday.
Read more at Reuters.com Hot Stocks News
Canon Inc. , Fanuc Ltd. , KDDI Corp. and Elpida Memory Inc. are among the companies due to report earnings on Tuesday.
Read more at Reuters.com Hot Stocks News
Malaysian Bonds Decline as Oil Spurs Inflation Concern; Ringgit Weakens
(Bloomberg) -- Malaysia's three-year bonds fell after crude oil prices rose to the highest in three weeks, stoking concern inflation will accelerate. The ringgit weakened for a second day.
The note's yield, which moves opposite to the price, has climbed from the lowest in 17 months on speculation Bank Negara Malaysia will refrain from cutting its overnight interest rate on April 27. Inflation was at a 2 1/2-year low in March and a sustained increase in fuel prices may prompt the government to raise the cost for consumers.
Read more at Bloomberg Bonds News
The note's yield, which moves opposite to the price, has climbed from the lowest in 17 months on speculation Bank Negara Malaysia will refrain from cutting its overnight interest rate on April 27. Inflation was at a 2 1/2-year low in March and a sustained increase in fuel prices may prompt the government to raise the cost for consumers.
Read more at Bloomberg Bonds News
Taiwan Export Order Growth Seen Accelerating to 9.5 Percent on China Sales
(Bloomberg) -- Growth in Taiwan's export orders probably accelerated in March on demand for electronics from China, the island's largest overseas market.
Export orders, indicative of actual shipments in one-to- three months, climbed 9.5 percent from a year earlier after growing 8.2 percent in February, according to the median estimate of 14 economists in a Bloomberg News survey. The report will be released at 4 p.m. in Taipei today.
Read more at Bloomberg Emerging Markets News
Export orders, indicative of actual shipments in one-to- three months, climbed 9.5 percent from a year earlier after growing 8.2 percent in February, according to the median estimate of 14 economists in a Bloomberg News survey. The report will be released at 4 p.m. in Taipei today.
Read more at Bloomberg Emerging Markets News
Jacobs Engineering Q2 net profit rises
(Reuters) - Analysts had predicted earnings of 52 cents a share, according to Reuters Estimates.
Jacobs also increased raised its fiscal 2007 outlook to $2.10 to $2.25 per share.
Read more at Reuters.com Market News
Jacobs also increased raised its fiscal 2007 outlook to $2.10 to $2.25 per share.
Read more at Reuters.com Market News
Australian Stocks Rise, Led Banks on Slower-Than-Expected Inflation Report
(Bloomberg) -- Australian stocks rebounded from earlier losses. Commonwealth Bank of Australia led banks higher after consumer prices rose less than anticipated in the first quarter, damping expectations the central bank will increase interest rates next week.
The S&P/ASX 200 Index climbed 12.0, or 0.2 percent, to 6221.70 at 11:35 a.m. in Sydney, recovering from an earlier 0.5 percent decline.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index climbed 12.0, or 0.2 percent, to 6221.70 at 11:35 a.m. in Sydney, recovering from an earlier 0.5 percent decline.
Read more at Bloomberg Stocks News
JGBs edge up as stocks dip,20-yr auction seen solid
(Reuters) - The lead contract has held above a three-month low of 133.41 struck last week but is within the broad range over the past eight months of 135.66 to 133.17.
An 800 billion yen offering of 20-year bonds is the main event on an otherwise quiet day, with a slightly higher coupon seen, which could lure institutional investors.
Read more at Reuters.com Bonds News
An 800 billion yen offering of 20-year bonds is the main event on an otherwise quiet day, with a slightly higher coupon seen, which could lure institutional investors.
Read more at Reuters.com Bonds News
KKR ups Alliance Boots bid
(Reuters) - AB Acquisitions, the acquisition vehicle of KKR and Alliance Boots Deputy Chairman Stefano Pessina, said late on Monday it now owned or had undertakings for about 21.4 percent of Britain's largest pharmacy chain.
"AB Acquisitions confirms that the cash price under the transaction will be increased to 1,139 pence per Alliance Boots share," it said in a statement. The price is inclusive of any final dividend.
Read more at Reuters.com Business News
"AB Acquisitions confirms that the cash price under the transaction will be increased to 1,139 pence per Alliance Boots share," it said in a statement. The price is inclusive of any final dividend.
Read more at Reuters.com Business News
Japan's Nikkei Stock Average, Topix Index Fall; Toyota, Mizuho Lead Drop
(Bloomberg) -- Japan's Nikkei 225 Stock Average fell 99.07, or 0.6 percent, to 17,356.30 at 9:02 a.m. in Tokyo. The broader Topix index dropped 9.52, or 0.6 percent, to 1696.11.
Toyota Motor Corp. and Mizuho Financial Group Inc. led the declines.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and Mizuho Financial Group Inc. led the declines.
Read more at Bloomberg Stocks News
CVS/Caremark rebuffs pension advisers' stand on board nominees
(Reuters) - Earlier, a group that advises union pension funds called on CVS/Caremark shareholders to withhold votes from former Caremark board members, Roger Headrick and C.A. Lance Piccolo, nominated to the combined company's board.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Oil Trades Near $66 on Concern Nigeria Election Dispute May Curb Supplies
(Bloomberg) -- Crude oil was little changed in New York after surging above $65 yesterday on concern violence in Nigeria may disrupt supplies as the U.S. nears peak summer driving demand.
Post-election violence in Port Harcourt, the heart of the country's oil rich Niger delta, left six people dead after a gun battle with security forces. Royal Dutch Shell Plc will restore production shut by militant attacks in the region by the end of May, Energy Minister Edmund Daukoru said April 18.
Read more at Bloomberg Energy News
Post-election violence in Port Harcourt, the heart of the country's oil rich Niger delta, left six people dead after a gun battle with security forces. Royal Dutch Shell Plc will restore production shut by militant attacks in the region by the end of May, Energy Minister Edmund Daukoru said April 18.
Read more at Bloomberg Energy News
UPDATE 3-Eiffage board wants Sacyr to offer cash
(Reuters) - PARIS, April 23 - The supervisory board of French public works and transport concessions group Eiffage on Monday rejected an unsolicited all-share offer by its biggest single shareholder, Sacyr Vallehermoso of Spain.
In an increasingly acrimonious cross-border tussle, Eiffage said Sacyr had broken French law and needed to offer a cash bid.
Read more at Reuters.com Mergers News
In an increasingly acrimonious cross-border tussle, Eiffage said Sacyr had broken French law and needed to offer a cash bid.
Read more at Reuters.com Mergers News
UPDATE 3-M'shita Elec Works buys India's Anchor for $420 mln
(Reuters) - TOKYO, April 23 - Matsushita Electric Works Ltd. , a maker of building materials and lighting equipment, said on Monday it had bought an 80 percent stake in India's Anchor Electricals Private for about 50 billion yen , taking aim at the country's strong growth potential.
Matsushita Electric Works is a unit of Panasonic maker Matsushita Electric Industrial Co. Ltd. , the world's largest consumer electronics maker. Mumbai-based Anchor is India's top maker of electrical construction materials such as lighting fixtures and electric wires.
Read more at Reuters.com Mergers News
Matsushita Electric Works is a unit of Panasonic maker Matsushita Electric Industrial Co. Ltd. , the world's largest consumer electronics maker. Mumbai-based Anchor is India's top maker of electrical construction materials such as lighting fixtures and electric wires.
Read more at Reuters.com Mergers News
UPDATE 2-Hasbro wallops expectations with Spiderman's help
(Reuters) - NEW YORK, April 23 - Hasbro Inc. on Monday posted a profit that trounced expectations, on strong sales of Spiderman toys and its Littlest Pet Shop and Playskool brands.
First-quarter net income at the nation's No. 2 toy maker climbed to $32.9 million, or 19 cents a share, compared with a year-earlier loss of $4.9 million, or 3 cents a share.
Read more at Reuters.com Market News
First-quarter net income at the nation's No. 2 toy maker climbed to $32.9 million, or 19 cents a share, compared with a year-earlier loss of $4.9 million, or 3 cents a share.
Read more at Reuters.com Market News
REFILE-UPDATE 1-U.S. investor sentiment falls in April-UBS
(Reuters) - The UBS/Gallup Index of Investor Optimism fell to 74 in April from 78 in March. April's reading matched September 2006's reading of 74.
The index, conducted monthly, has declined 31 points over the past three months. It had a baseline score of 124 when it was established in October 1996. The survey was conducted between April 1-15.
Read more at Reuters.com Bonds News
The index, conducted monthly, has declined 31 points over the past three months. It had a baseline score of 124 when it was established in October 1996. The survey was conducted between April 1-15.
Read more at Reuters.com Bonds News
U.S. Stock Futures Drop; Energy Shares, Pfizer Decline After Downgrades
(Bloomberg) -- U.S. stock-index futures fell after analyst downgrades on energy shares and Pfizer Inc. raised concern that a six-week rebound has left stocks expensive relative to earnings.
Takeover news helped limit the losses in index futures. MedImmune Inc. jumped after AstraZeneca Plc agreed to buy the biotechnology company for $15.2 billion in cash to gain flu vaccines and an antiviral treatment for babies. Bank of America Corp. advanced after agreeing to buy ABN Amro Holding NV's LaSalle unit.
Read more at Bloomberg Stocks News
Takeover news helped limit the losses in index futures. MedImmune Inc. jumped after AstraZeneca Plc agreed to buy the biotechnology company for $15.2 billion in cash to gain flu vaccines and an antiviral treatment for babies. Bank of America Corp. advanced after agreeing to buy ABN Amro Holding NV's LaSalle unit.
Read more at Bloomberg Stocks News
Futures little changed as Dow eyes 13,000
(Reuters) - Biotechnology stocks will be in the spotlight with a trans-Atlantic takeover deal in the works and Amgen Inc. set to report quarterly earnings after the closing bell.
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotech company MedImmune Inc. for more than $15 billion. MedImmune stock shot up 18.5 percent to $56.90 in electronic trading before the bell.
Read more at Reuters.com Business News
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotech company MedImmune Inc. for more than $15 billion. MedImmune stock shot up 18.5 percent to $56.90 in electronic trading before the bell.
Read more at Reuters.com Business News
UPDATE 1-Investor sentiment falls in April on gasoline-UBS
(Reuters) - The UBS/Gallup Index of Investor Optimism fell to 74 in April from 78 in March. April's reading matched September 2006's reading of 74.
The index, conducted monthly, has declined 31 points over the past three months. It had a baseline score of 124 when it was established in October 1996. The survey was conducted between April 1-15.
Read more at Reuters.com Economic News
The index, conducted monthly, has declined 31 points over the past three months. It had a baseline score of 124 when it was established in October 1996. The survey was conducted between April 1-15.
Read more at Reuters.com Economic News
CME to offer derivatives on Lehman debt index
(Reuters) - Lehman Brothers currently estimates that more than $2 trillion in fixed-income assets are benchmarked to the index.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Dufry South America, Geo and Imsa: Latin American Equity Trading Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil 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
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
Qwest's Nacchio Faces 15 Years in Prison Amid Crackdown on U.S. Companies
(Bloomberg) -- Joseph Nacchio's next courtroom battle will be to convince a judge that he shouldn't get 15 years behind bars for trading on inside information as chief executive officer of Qwest Communications International Ltd.
Nacchio, 57, illegally sold $52 million in Qwest shares in 2001 based on private warnings that the company would miss revenue targets, a Denver jury said last week.
Read more at Bloomberg Exclusive News
Nacchio, 57, illegally sold $52 million in Qwest shares in 2001 based on private warnings that the company would miss revenue targets, a Denver jury said last week.
Read more at Bloomberg Exclusive News
White Sugar Futures Drop in London After China Says It Will Reduce Imports
(Bloomberg) -- White sugar futures in London dropped to their lowest in five months after China, the world's second-largest consumer, said it may buy the sweetener from the domestic suppliers and cut imports.
China may buy sugar from local producers to replenish reserves and support prices on domestic markets, Ma Zhanping, deputy director of trade at the National Development and Reform Commission, said in a transcript of a speech posted on the CNSugar Web site today. The Asian country will also limit sugar imports, using measures allowed by trade regulations, it said.
Read more at Bloomberg Commodities News
China may buy sugar from local producers to replenish reserves and support prices on domestic markets, Ma Zhanping, deputy director of trade at the National Development and Reform Commission, said in a transcript of a speech posted on the CNSugar Web site today. The Asian country will also limit sugar imports, using measures allowed by trade regulations, it said.
Read more at Bloomberg Commodities News
US STOCKS-Futures flat on caution about earnings' pace
(Reuters) - Biotechnology stocks will be in the spotlight with a trans-Atlantic takeover deal in the works and Amgen Inc. set to report quarterly earnings after the closing bell.
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotechnology company MedImmune Inc. for more than $15 billion.
Read more at Reuters.com Bonds News
Anglo-Swedish drug maker AstraZeneca has agreed to buy U.S. biotechnology company MedImmune Inc. for more than $15 billion.
Read more at Reuters.com Bonds News
Algeria's Sonatrach Q1 exports at $13 bln - paper
(Reuters) - Algerian state oil firm Sonatrach, Africa's biggest company by revenue, exported $13 billion of energy products during the first quarter of 2007, a government-owned newspaper reported on Monday.
The figure was given by daily El Moudjahid, which cited a company statement. No comparative year-earlier figure was given.
Read more at Reuters Africa
The figure was given by daily El Moudjahid, which cited a company statement. No comparative year-earlier figure was given.
Read more at Reuters Africa
UPDATE 1-American Tower plans $1.75 bln securitization
(Reuters) - Proceeds from the offering will be used to repay some debts of its principal U.S.-operating subsidiaries SpectraSite Communications LLC and American Towers Inc.
This includes repayment of about $755 million of senior secured credit, and costs and expenses to fund the repurchase of about $325 million of 7.25 percent senior subordinated notes due 2011, the wireless and broadcast communications infrastructure company said in a statement.
Read more at Reuters.com Bonds News
This includes repayment of about $755 million of senior secured credit, and costs and expenses to fund the repurchase of about $325 million of 7.25 percent senior subordinated notes due 2011, the wireless and broadcast communications infrastructure company said in a statement.
Read more at Reuters.com Bonds News
EU notifies car glass makers of cartel suspicions
(Reuters) - The European Commission said on Monday it had notified a group of makers of glass used in the car industry that it believed they took part in a cartel.
"The European Commission can confirm that it has recently sent a statement of objections to a number of undertakings regarding their alleged role in a cartel for car glass," the Commission said in a statement.
Read more at Reuters Africa
"The European Commission can confirm that it has recently sent a statement of objections to a number of undertakings regarding their alleged role in a cartel for car glass," the Commission said in a statement.
Read more at Reuters Africa
Arsenal can count on Queen's support - report
(Reuters) - Arsenal's season has been a disappointment on the pitch but at least it seems they can still count on the support of the Queen.
According to a newspaper report on Monday the 81-year-old Queen Elizabeth, like her late mother, has been a keen follower of the Gunners for 50 years.
Read more at Reuters Africa
According to a newspaper report on Monday the 81-year-old Queen Elizabeth, like her late mother, has been a keen follower of the Gunners for 50 years.
Read more at Reuters Africa
European Stocks Fall From 6 1/2-Year High; Barclays, AstraZeneca Decline
(Bloomberg) -- European stocks fell from the highest in more than six years on concern companies may be spending too much to buy rivals.
Barclays Plc declined after agreeing to buy ABN Amro Holding NV for $91 billion in the world's biggest-ever financial-services takeover. AstraZeneca Plc dropped after offering $15.2 billion in cash for U.S.-based MedImmune Inc.
Read more at Bloomberg Stocks News
Barclays Plc declined after agreeing to buy ABN Amro Holding NV for $91 billion in the world's biggest-ever financial-services takeover. AstraZeneca Plc dropped after offering $15.2 billion in cash for U.S.-based MedImmune Inc.
Read more at Bloomberg Stocks News
Aveng to sell Holcim SA stake for $1 bln
(Reuters) - South African construction and engineering firm Aveng has agreed to sell its indirect 45.65 percent stake in the local unit of Switzerland's Holcim to black investors for 7.4 billion rand, it said on Monday.
Aveng said it had agreed a series of deals which would result in majority black-owned firm AfriSam controlling Altur Investments, which owns 100 percent of Holcim SA.
Read more at Reuters Africa
Aveng said it had agreed a series of deals which would result in majority black-owned firm AfriSam controlling Altur Investments, which owns 100 percent of Holcim SA.
Read more at Reuters Africa
UPDATE 3-S&P upgrades Japan's sovereign debt rating to AA
(Reuters) - TOKYO, April 23 - Japan, one of the most indebted of the industrialised countries, had its sovereign credit rating raised one notch by Standard & Poor's on Monday to the third-highest ranking of AA, due to improving fiscal conditions.
The yen edged higher after the ratings agency raised Japan's foreign and local currency long-term sovereign ratings to AA from AA-minus, bringing the country's ratings on par with those of Andorra, Bermuda, Hong Kong and Slovenia.
Read more at Reuters.com Bonds News
The yen edged higher after the ratings agency raised Japan's foreign and local currency long-term sovereign ratings to AA from AA-minus, bringing the country's ratings on par with those of Andorra, Bermuda, Hong Kong and Slovenia.
Read more at Reuters.com Bonds News
Polish Zloty Gains on Outlook for Interest Rates, Minister's Euro Comment
(Bloomberg) -- Poland's zloty advanced to its highest in more than four months versus the euro on expectations the central bank will raise interest rates this week.
The zloty rose for a second day as traders bet the Polish central bank will raise its benchmark rate 25 basis points from the current record low of 4 percent on April 25, according to 15 of 18 economists surveyed by Bloomberg. The zloty was also buoyed by comments on euro adoption and growth by the Finance Ministry.
Read more at Bloomberg Currencies News
The zloty rose for a second day as traders bet the Polish central bank will raise its benchmark rate 25 basis points from the current record low of 4 percent on April 25, according to 15 of 18 economists surveyed by Bloomberg. The zloty was also buoyed by comments on euro adoption and growth by the Finance Ministry.
Read more at Bloomberg Currencies News
Altech in deal to launch Africa broadband service
(Reuters) - South African technology firm Allied Technologies (Altech) has teamed up with U.S.-based CityNet Wireless Inc. to provide broadband services in Africa, Altech said on Monday.
Atech said in a statement it would use unlisted CityNet's wireless broadband technology to tap pent-up demand for Internet access in the poorest continent, where fixed-line infastructure is patchy.
Read more at Reuters Africa
Atech said in a statement it would use unlisted CityNet's wireless broadband technology to tap pent-up demand for Internet access in the poorest continent, where fixed-line infastructure is patchy.
Read more at Reuters Africa
FTSE ticks down as Barclays, AstraZeneca weigh
(Reuters) - Britain's top share index ticked down early on Monday, after Barclays agreed to buy ABN AMRO for $91 billion and investors turned negative to a U.S. acquisition by AstraZeneca.
Barclays slipped 2.4 percent to top the FTSE 100 losers as traders said the UK bank was no longer a bid target after its takeover of ABN and the deal was fairly priced.
Read more at Reuters Africa
Barclays slipped 2.4 percent to top the FTSE 100 losers as traders said the UK bank was no longer a bid target after its takeover of ABN and the deal was fairly priced.
Read more at Reuters Africa
U.K. Pound May Drop on View Rise to 25-Year High Last Week Was Too Rapid
(Bloomberg) -- The pound may decline as traders judged a rally that took Britain's currency to a 25-year high last week against the dollar was too rapid.
The U.K. pound soared to $2 for the first time since September 1992 when speculators forced it out of the European system of linked exchanged rate. Travelex Plc, a foreign exchange specialist, said its retail dollar sales have risen by 150 percent since the pound rose above $2. The company also expects corporate demand for the dollar to increase.
Read more at Bloomberg Currencies News
The U.K. pound soared to $2 for the first time since September 1992 when speculators forced it out of the European system of linked exchanged rate. Travelex Plc, a foreign exchange specialist, said its retail dollar sales have risen by 150 percent since the pound rose above $2. The company also expects corporate demand for the dollar to increase.
Read more at Bloomberg Currencies News
UPDATE 1-CNH Global 1st-quarter profit rises
(Reuters) - The farm equipment maker, an affiliate of Italian carmaker Fiat SpA , reported a first-quarter net profit of $95 million, or 40 cents a share, compared with $43 million, or 18 cents a share, a year earlier.
Before restructuring charges, the company reported a profit of 44 cents per share.
Read more at Reuters.com Market News
Before restructuring charges, the company reported a profit of 44 cents per share.
Read more at Reuters.com Market News
AstraZeneca to buy MedImmune for $15 billion
(Reuters) - The acquisition, announced on Monday, is the boldest move yet by Chief Executive David Brennan, who has been seeking to bolster the company's drug portfolio following a series of product setbacks.
AstraZeneca said the agreed, all-cash deal, which was reported earlier by a source close to the situation, was expected to close in June 2007.
Read more at Reuters.com Business News
AstraZeneca said the agreed, all-cash deal, which was reported earlier by a source close to the situation, was expected to close in June 2007.
Read more at Reuters.com Business News
Japan 20-Year Government Bonds Gain on Speculation Auction to Draw Demand
(Bloomberg) -- Japanese 20-year government bonds rose on speculation the prospects for limited inflation will help draw demand at an auction of the securities tomorrow.
Twenty-year yields near the highest since February may lure investors on bets the Bank of Japan will cut its inflation forecast for the current fiscal year this week. Demand among overseas investors may increase after Japan's debt rating was raised one level to AA from AA- by Standard & Poor's.
Read more at Bloomberg Bonds News
Twenty-year yields near the highest since February may lure investors on bets the Bank of Japan will cut its inflation forecast for the current fiscal year this week. Demand among overseas investors may increase after Japan's debt rating was raised one level to AA from AA- by Standard & Poor's.
Read more at Bloomberg Bonds News
KfW plans $3 bln 5-yr global bond this week -lead
(Reuters) - Citigroup, Goldman Sachs and JP Morgan are managing the sale.
KfW's debt is guaranteed by the Federal Republic of Germany and is rated triple-A by all three major ratings agencies.
Read more at Reuters.com Bonds News
KfW's debt is guaranteed by the Federal Republic of Germany and is rated triple-A by all three major ratings agencies.
Read more at Reuters.com Bonds News
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