(Bloomberg) -- Platinum rose in Asian trade today amid continuing speculation that new exchange-traded funds for precious metals will boost demand. Palladium was little changed.
Zuercher Kantonalbank, Switzerland's biggest government- controlled cantonal lender, will introduce ETFs for platinum, palladium and silver on May 10. ETFS Physical Platinum was introduced in London last week by Channel Islands-based ETF Securities Ltd.
Read more at Bloomberg Commodities News
Sunday, April 29, 2007
DaVita 1st-qtr profit rises
(Reuters) - Wall Street analysts had on average forecast 72 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Southern Copper Workers in Peru Strike as Government Talks Fall Through
(Bloomberg) -- Southern Copper Corp. workers at the company's Peruvian smelter began a work stoppage for higher wages even as talks with the government to prevent tomorrow's national mining strike ended without an agreement, a union official said today.
Some 80 unions, including Newmont Mining Corp.'s Yanacocha gold mine, Doe Run Resources Corp.'s La Oroya poly-metallic smelter and zinc producer Volcan Cia. Minera SA, will go on strike starting 1 a.m. New York time, said Luis Castillo, general secretary of Peru's Mining Federation. The Lima-based group represents about 28,000 of Peru's 100,000 mine workers.
Read more at Bloomberg Commodities News
Some 80 unions, including Newmont Mining Corp.'s Yanacocha gold mine, Doe Run Resources Corp.'s La Oroya poly-metallic smelter and zinc producer Volcan Cia. Minera SA, will go on strike starting 1 a.m. New York time, said Luis Castillo, general secretary of Peru's Mining Federation. The Lima-based group represents about 28,000 of Peru's 100,000 mine workers.
Read more at Bloomberg Commodities News
UPDATE 1-Yahoo to buy rest of Right Media for $680 mln
(Reuters) - The Right Media Exchange is the industry's largest emerging online advertising exchange, which serve up banner ads and other ad formats to less trafficked parts of Web sites than traditional premium ad networks, which target busy sites.
Yahoo, the market leader in display advertising used by big brand-name marketers, is seeking to boost its presence in the fast-growing market for advertising that can be micro-targeted to small audiences such as individual social network profiles.
Read more at Reuters.com Mergers News
Yahoo, the market leader in display advertising used by big brand-name marketers, is seeking to boost its presence in the fast-growing market for advertising that can be micro-targeted to small audiences such as individual social network profiles.
Read more at Reuters.com Mergers News
UPDATE 2-Australia's Orica strong H1 may deter new bids
(Reuters) - Shares in the world's top explosives maker fell as much as 2 percent on Monday after some disappointment that the company did not provide stronger justification for rejecting a bid from a consortium led by Bain Capital and Blackstone Group.
Investors saw a 39 percent rise in first-half profit and the forecast of a significantly higher annual profit as cutting the chance of a renewed approach.
Read more at Reuters.com Market News
Investors saw a 39 percent rise in first-half profit and the forecast of a significantly higher annual profit as cutting the chance of a renewed approach.
Read more at Reuters.com Market News
Asia for Me, Europe for You, and Who Gets Chicago?: Commentary by D. Pauly
(Bloomberg) -- Takeover machinations are reaching a new peak.
Rival bids for ABN Amro Holding NV, which does banking in 53 countries, may bring the final price for the Amsterdam-based company to more than $100 billion.
Read more at Bloomberg Stocks News
Rival bids for ABN Amro Holding NV, which does banking in 53 countries, may bring the final price for the Amsterdam-based company to more than $100 billion.
Read more at Bloomberg Stocks News
Asian Product Tanker Rates Gain on Hiring Before Holidays in Japan, China
(Bloomberg) -- The cost of hiring tankers to ship gasoline, diesel and other so-called clean petroleum products on Asian routes rose to the highest in almost three months as traders booked vessels before holidays this week.
Rates to transport a 30,000 metric ton cargo on the benchmark route from Singapore to Japan rose 3.7 percent on April 27 to Worldscale 210.83, the highest since Feb. 1, according to London's Baltic Exchange. That pegs the cost of shipping a gallon fuel on the route at 5.7 cents, according to calculations based on data compiled by Bloomberg
Read more at Bloomberg Energy News
Rates to transport a 30,000 metric ton cargo on the benchmark route from Singapore to Japan rose 3.7 percent on April 27 to Worldscale 210.83, the highest since Feb. 1, according to London's Baltic Exchange. That pegs the cost of shipping a gallon fuel on the route at 5.7 cents, according to calculations based on data compiled by Bloomberg
Read more at Bloomberg Energy News
Taiwan's Dollar Falls to Six-Month Low on Low Rates; Government Bonds Gain
(Bloomberg) -- Taiwan's dollar weakened to the lowest in six months on speculation investors will sell the currency to buy higher-yielding assets overseas.
The currency headed for a fifth monthly loss as the island's key interest rate of 2.875 percent, the second-lowest in Asia after Japan, encouraged carry trades where investors borrow in Taiwan dollars to put money in assets abroad. In Indonesia, the benchmark rate is 6.125 percentage points higher than in Taiwan, while the U.S. rate is 2.375 points more.
Read more at Bloomberg Bonds News
The currency headed for a fifth monthly loss as the island's key interest rate of 2.875 percent, the second-lowest in Asia after Japan, encouraged carry trades where investors borrow in Taiwan dollars to put money in assets abroad. In Indonesia, the benchmark rate is 6.125 percentage points higher than in Taiwan, while the U.S. rate is 2.375 points more.
Read more at Bloomberg Bonds News
China Stocks Rise, Set for Record Month; China Vanke Advances on Earnings
(Bloomberg) -- China's stocks rose, set to complete a record monthly gain, after companies including China Vanke Co. and Hainan Airlines Co. reported higher earnings.
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, rose 21.23, or 0.6 percent, to 3492.27 at 10:20 a.m. local time. It's up 26 percent since March 30, headed for the biggest monthly increase since the benchmark was introduced in April 2005.
Read more at Bloomberg Stocks News
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, rose 21.23, or 0.6 percent, to 3492.27 at 10:20 a.m. local time. It's up 26 percent since March 30, headed for the biggest monthly increase since the benchmark was introduced in April 2005.
Read more at Bloomberg Stocks News
Swiss Lawmakers Debate Tighter Rules as Foreigners Spur Fears of Takeovers
(Bloomberg) -- Swiss lawmakers are discussing a tightening of takeover rules after foreign investors built stakes in some of the country's largest industrial companies, fueling concern they may be acquired.
Legislators in the capital Bern will today debate whether shareholders should reveal stakes of as little as 3 percent, including options. Investors must now report their holdings only when they reach 5 percent of a company's stock or 5 percent of options, enabling them to buy almost 10 percent undetected.
Read more at Bloomberg Currencies News
Legislators in the capital Bern will today debate whether shareholders should reveal stakes of as little as 3 percent, including options. Investors must now report their holdings only when they reach 5 percent of a company's stock or 5 percent of options, enabling them to buy almost 10 percent undetected.
Read more at Bloomberg Currencies News
Singapore's Stocks Decline, Led by DBS Group Holdings; Allgreen Climbs
(Bloomberg) -- Singapore's Straits Times Index fell 9.54, or 0.3 percent, to 3389.06 at 9:02 a.m local time. May futures were little changed at 413.8.
DBS Group Holdings Ltd. and United Overseas Bank Ltd. led declines, while Allgreen Properties Ltd. climbed.
Read more at Bloomberg Stocks News
DBS Group Holdings Ltd. and United Overseas Bank Ltd. led declines, while Allgreen Properties Ltd. climbed.
Read more at Bloomberg Stocks News
South Korean Export Growth Probably Accelerated on Demand for Ships, Steel
(Bloomberg) -- South Korea's export growth probably accelerated in April on increased demand for ships and steel. Consumer prices likely rose at a slower pace this month.
Overseas shipments gained 16.5 percent from a year ago after climbing 13.6 percent in March, according to the median estimate in a Bloomberg News survey of 11 economists. Consumer prices advanced an unadjusted 0.2 percent from March and 2.3 percent from a year earlier, the survey also showed. Trade figures will be released at 10 a.m. in Seoul on May 1 and the inflation report is due at 1:30 p.m. on the same day.
Read more at Bloomberg Bonds News
Overseas shipments gained 16.5 percent from a year ago after climbing 13.6 percent in March, according to the median estimate in a Bloomberg News survey of 11 economists. Consumer prices advanced an unadjusted 0.2 percent from March and 2.3 percent from a year earlier, the survey also showed. Trade figures will be released at 10 a.m. in Seoul on May 1 and the inflation report is due at 1:30 p.m. on the same day.
Read more at Bloomberg Bonds News
Australia's S&P/ASX 200 Index Rises, Led by BHP Billiton on Higher Copper
(Bloomberg) -- Australia's S&P/ASX 200 Index rose 7.0 points to 6159.30 as of 10:02 a.m. in Sydney. BHP Billiton Ltd. advanced.
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
Exporters, Hana Financial, Kookmin, Ssangyong: South Korea Stock Preview
(Bloomberg) -- The following shares may rise or fall in South Korea. Prices refer to the April 27 close. This preview includes news announced after markets shut. Stock symbols are in brackets after the company names.
The Kospi index slid 0.7 percent to 1542.52. The Kosdaq fell 0.9 percent to 675.52. Kospi 200 futures expiring in June retreated 0.8 percent to 199.45, while the underlying index lost 0.7 percent to 198.28.
Read more at Bloomberg Stocks News
The Kospi index slid 0.7 percent to 1542.52. The Kosdaq fell 0.9 percent to 675.52. Kospi 200 futures expiring in June retreated 0.8 percent to 199.45, while the underlying index lost 0.7 percent to 198.28.
Read more at Bloomberg Stocks News
BHP, Flight Centre, Orica, Paladin, Qantas, Rio: Australian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed on Friday. Australian prices are from Friday's close unless otherwise stated. New Zealand prices are today's. Stock symbols are in brackets after the company names.
The S&P/ASX 200 Index futures contract due in June added 0.2 percent to 6206 at 7:33 a.m. in Sydney. The Bank of New York Australia ADR Index fell 0.6 percent in New York.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index futures contract due in June added 0.2 percent to 6206 at 7:33 a.m. in Sydney. The Bank of New York Australia ADR Index fell 0.6 percent in New York.
Read more at Bloomberg Stocks News
Bernanke Is Wrong on Inflation, Interest Rates, Goldman, Merrill, UBS Say
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's assertion that interest rates may need to increase to curb inflation is wrong. That's what Goldman Sachs Group Inc., Merrill Lynch & Co. and UBS AG are saying.
While Bernanke warned last month that the odds of worsening inflation have increased, chief economists at the three firms say the worst housing slump in a decade may drive the U.S. economy into a recession and stifle consumer prices. Their chief economists say the Fed will cut its target for overnight loans between banks at least three times this year.
Read more at Bloomberg Bonds News
While Bernanke warned last month that the odds of worsening inflation have increased, chief economists at the three firms say the worst housing slump in a decade may drive the U.S. economy into a recession and stifle consumer prices. Their chief economists say the Fed will cut its target for overnight loans between banks at least three times this year.
Read more at Bloomberg Bonds News
WEEKAHEAD-Emerging debt eyes U.S. data, risk tolerance up
(Reuters) - Investors will look at U.S. personal income for March, manufacturing and service sector indexes from the Institute for Supply Management, as well as nonfarm payrolls for April for signs of whether the U.S. economy is growing as expected and if inflation remains a concern.
Investors in emerging government paper have experienced a dream-like scenario where a moderate slowdown of the U.S. economy has not hurt demand for exports from developing economies, but has allowed U.S. interest rates to remain stable.
Read more at Reuters.com Bonds News
Investors in emerging government paper have experienced a dream-like scenario where a moderate slowdown of the U.S. economy has not hurt demand for exports from developing economies, but has allowed U.S. interest rates to remain stable.
Read more at Reuters.com Bonds News
RPT-Wall St Week Ahead: For stocks, earnings may offset jobs
(Reuters) - NEW YORK, April 29 - Should earnings keep beating analysts' forecasts this week, they are likely to be the big prop for stocks even if economic data such as Friday's April payrolls data turns out to be a disappointment.
A heavy schedule of corporate earnings will give investors plenty of numbers and trends to watch this week with Procter & Gamble Co. reporting on Tuesday and General Motors Corp. releasing results on Thursday.
Read more at Reuters.com Bonds News
A heavy schedule of corporate earnings will give investors plenty of numbers and trends to watch this week with Procter & Gamble Co. reporting on Tuesday and General Motors Corp. releasing results on Thursday.
Read more at Reuters.com Bonds News
Israel's Benchmark TA-25 Stock Index Declines From a Record, Led by Bezeq
(Bloomberg) -- Israel's benchmark stock index declined from a record, paced by Bezeq Ltd., after an external auditor uncovered ``procedural and fundamental flaws'' in the management of Israel's largest telecommunications company.
The TA-25 Index dropped 12.12, or 1.1 percent, to 1062.26 at 10:48 a.m. in Tel Aviv, as all but four shares fell.
Read more at Bloomberg Stocks News
The TA-25 Index dropped 12.12, or 1.1 percent, to 1062.26 at 10:48 a.m. in Tel Aviv, as all but four shares fell.
Read more at Bloomberg Stocks News
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