(Reuters) - Katanga Mining Ltd.'s shares jumped about 10 percent in heavy activity on Wednesday after the tiny copper miner made moves to block a rival company from gobbling up its stock in a creeping takeover bid.
The shares of the company, which rehabilitates mines and plants near Kolwezi in the Katanga province of the Democratic Republic of Congo, were up C$1.44, or 9.1 percent, at C$17.24 on the Toronto Stock Exchange by late morning, after racing as high as C$17.35 earlier in the session.
Read more at Reuters Africa
Wednesday, May 9, 2007
Japan Stocks Fall, Led by Toyota on Earnings Concern; Mitsui Fudosan Gains
(Bloomberg) -- Japanese stocks fell, led by automakers, after Toyota Motor Corp. forecast the slowest profit growth since net income dropped in 1999.
Toyota, the world's biggest carmaker by market value, lost 1.8 percent. Denso Corp., Japan's largest automotive parts maker which is 23 percent owned by Toyota, slid 4.2 percent.
Read more at Bloomberg Stocks News
Toyota, the world's biggest carmaker by market value, lost 1.8 percent. Denso Corp., Japan's largest automotive parts maker which is 23 percent owned by Toyota, slid 4.2 percent.
Read more at Bloomberg Stocks News
Dollar holds post-Fed gains, Aussie jumps on data
(Reuters) - The dollar was steady against the yen and euro on Thursday, holding on to gains made after the Federal Reserve kept benchmark U.S. interest rates steady and said its main worry was that inflation would fail to moderate.
While the Fed's statement after its meeting on Wednesday was mostly in line with expectations, it doused speculation that it might cut interest rates more than once this year.
Read more at Reuters Africa
While the Fed's statement after its meeting on Wednesday was mostly in line with expectations, it doused speculation that it might cut interest rates more than once this year.
Read more at Reuters Africa
UPDATE 1-InBev Q1 beats expectations on Latin America thirst
(Reuters) - The brewer of Stella Artois, Beck's, Brahma and Leffe achieved earnings before interest, tax, depreciation and amortisation of 962 million euros compared with 812 million euros a year earlier.
Analysts had expected a figure of 910 million euros and revenue of 2.96 billion euros, based on a Reuters poll of 16.
Read more at Reuters.com Market News
Analysts had expected a figure of 910 million euros and revenue of 2.96 billion euros, based on a Reuters poll of 16.
Read more at Reuters.com Market News
China's Stocks, at Record High, May Face `Correction,' Goldman Sachs Says
(Bloomberg) -- China's stocks, which accounted for half the trading in Asia yesterday, may face a ``correction'' as earnings can't justify the rally that's made them the world's biggest gainers this year, according to Goldman Sachs & Co.
China's CSI 300 Index, which tracks yuan-denominated A shares listed on the country's two exchanges, has climbed 85 percent in dollar terms in 2007, the best performance among 90 stock benchmarks tracked by Bloomberg. It's also the world's most expensive key stock index, at 42 times reported earnings, more than double the Morgan Stanley Capital International Asia Pacific Index's 19 times.
Read more at Bloomberg Emerging Markets News
China's CSI 300 Index, which tracks yuan-denominated A shares listed on the country's two exchanges, has climbed 85 percent in dollar terms in 2007, the best performance among 90 stock benchmarks tracked by Bloomberg. It's also the world's most expensive key stock index, at 42 times reported earnings, more than double the Morgan Stanley Capital International Asia Pacific Index's 19 times.
Read more at Bloomberg Emerging Markets News
Platinum Little Changed; May Drop on End of Strike at South African Mine
(Bloomberg) -- Platinum was little changed in Asia and may fall after a strike ended at the South Africa mine owned by the world's fourth-largest producer.
Northam Platinum Holdings Ltd. on May 8 said it agreed with the National Union of Mineworkers to halt a strike by about 5,500 workers at its only mine. South Africa's National Union of Mineworkers begins wage talks with platinum producers next month.
Read more at Bloomberg Commodities News
Northam Platinum Holdings Ltd. on May 8 said it agreed with the National Union of Mineworkers to halt a strike by about 5,500 workers at its only mine. South Africa's National Union of Mineworkers begins wage talks with platinum producers next month.
Read more at Bloomberg Commodities News
Dresdner Kleinwort Cuts Dollar Forecast Against Euro on Rate Differential
(Bloomberg) -- Dresdner Kleinwort cut its dollar forecast against the euro on slower U.S. economic growth and speculation the Federal Reserve will lower interest rates.
The dollar will fall to $1.42 per euro by year-end, down from the previous forecast of $1.40, Dresdner said in a report on May 8. The U.S. currency reached a record low against the euro last month on bets the Fed will cut rates this year and the European Central Bank will lift borrowing costs a quarter percentage point in June.
Read more at Bloomberg Currencies News
The dollar will fall to $1.42 per euro by year-end, down from the previous forecast of $1.40, Dresdner said in a report on May 8. The U.S. currency reached a record low against the euro last month on bets the Fed will cut rates this year and the European Central Bank will lift borrowing costs a quarter percentage point in June.
Read more at Bloomberg Currencies News
Philippine Bonds Plunge as Central Bank Deposits Opened Wider; Peso Gains
(Bloomberg) -- Philippine bonds plunged on speculation investors are shifting funds to central bank accounts that were opened to a wider range of organizations from today. The peso gained.
Four-year bond yields rose the most in almost two months as the central bank expanded access to its deposit accounts to government pension funds, state companies and some investment trusts. They were previously only open to commercial banks.
Read more at Bloomberg Bonds News
Four-year bond yields rose the most in almost two months as the central bank expanded access to its deposit accounts to government pension funds, state companies and some investment trusts. They were previously only open to commercial banks.
Read more at Bloomberg Bonds News
Treasuries May Rise as Import, Producer Prices Probably Slowed in April
(Bloomberg) -- Treasuries may rise before U.S. government reports that are forecast to show prices for imports and producers in April climbed at a slower rate than in March.
Two-year notes declined the most in more than a month yesterday after the Federal Reserve kept interest rates unchanged and reiterated that inflation remains its predominant concern. The U.S. Labor Department will issue numbers for imports today and producer prices tomorrow.
Read more at Bloomberg Bonds News
Two-year notes declined the most in more than a month yesterday after the Federal Reserve kept interest rates unchanged and reiterated that inflation remains its predominant concern. The U.S. Labor Department will issue numbers for imports today and producer prices tomorrow.
Read more at Bloomberg Bonds News
Fannie Mae files 12B-25 in lieu of quarterly statement
(Reuters) - Last week, the company filed its 2005 annual report in an effort to get caught up on its financial reporting.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
US House pushes new war funds bill Bush would veto
(Reuters) - "The House bill is going to change," promised Senate Majority Leader Harry Reid, a Nevada Democrat.
White House spokesman Tony Snow told reporters President George W. Bush would veto the House bill if it reached his desk.
Read more at Reuters.com Bonds News
White House spokesman Tony Snow told reporters President George W. Bush would veto the House bill if it reached his desk.
Read more at Reuters.com Bonds News
Nickel Falls From Record on Concern Steelmakers Will Use Less; Zinc Drops
(Bloomberg) -- Nickel fell from a record in London on speculation that makers of stainless steel will curb their purchases of the metal in favor of cheaper raw materials. Zinc and aluminum also dropped.
Stainless-steel producers including South Korea's Posco have said they will reduce nickel usage this year due after prices more than doubled in the past 12 months. Some producers are using so-called nickel pig iron, a cheaper alternative to refined nickel.
Read more at Bloomberg Commodities News
Stainless-steel producers including South Korea's Posco have said they will reduce nickel usage this year due after prices more than doubled in the past 12 months. Some producers are using so-called nickel pig iron, a cheaper alternative to refined nickel.
Read more at Bloomberg Commodities News
Congress Is `Losing Patience' With China's, Japan's Exchange-Rate Policies
(Bloomberg) -- U.S. lawmakers accused China and, to a lesser extent, Japan of keeping their currencies artificially low to boost exports, threatening legislation to protect American manufacturers and workers.
The policies of Asia's two biggest economies have fueled record trade surpluses with the U.S., manufacturers told a joint hearing of three House committees today. Their testimony, and the response from lawmakers, puts pressure on Treasury Secretary Henry Paulson to push China to let the yuan rise against the dollar in talks later this month.
Read more at Bloomberg Currencies News
The policies of Asia's two biggest economies have fueled record trade surpluses with the U.S., manufacturers told a joint hearing of three House committees today. Their testimony, and the response from lawmakers, puts pressure on Treasury Secretary Henry Paulson to push China to let the yuan rise against the dollar in talks later this month.
Read more at Bloomberg Currencies News
U.S. Stocks Rise on Profits, Takeover Speculation; Alltel, IBM Shares Gain
(Bloomberg) -- U.S. stocks rallied on improved profit forecasts and continued takeover speculation that pushed the Standard & Poor's 500 Index within 1 percent of its 2000 record.
Alltel Corp., International Business Machines Corp. and Texas Instruments Inc. led the advance. The Dow Jones Industrial Average rose to its sixth record in seven days.
Read more at Bloomberg Stocks News
Alltel Corp., International Business Machines Corp. and Texas Instruments Inc. led the advance. The Dow Jones Industrial Average rose to its sixth record in seven days.
Read more at Bloomberg Stocks News
U.S. Stocks Rise on Profits, Takeover Speculation; Alltel, IBM Shares Jump
(Bloomberg) -- U.S. stocks rallied on improved profit forecasts and continued takeover speculation that pushed the Standard & Poor's 500 Index within 1 percent of its 2000 record.
Alltel Corp., International Business Machines Corp. and Texas Instruments Inc. led the advance. The Dow Jones Industrial Average rose to its sixth record in seven days.
Read more at Bloomberg Stocks News
Alltel Corp., International Business Machines Corp. and Texas Instruments Inc. led the advance. The Dow Jones Industrial Average rose to its sixth record in seven days.
Read more at Bloomberg Stocks News
Crude Oil Falls After Report of Larger-Than-Expected U.S. Inventory Gains
(Bloomberg) -- Crude oil fell after an Energy Department report showed larger-than-expected gains in U.S. oil and fuel inventories.
Oil supplies surged 5.5 million barrels to 341.2 million barrels last week, the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to climb by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
Oil supplies surged 5.5 million barrels to 341.2 million barrels last week, the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to climb by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
TREASURIES-Bonds slide after Fed cites inflation worry
(Reuters) - NEW YORK, May 9 - U.S. government bond prices slid on Wednesday after the Federal Reserve held interest rates steady and signaled to investors its main concern was that inflation would fail to moderate.
The Fed held the benchmark 5.25 percent fed funds rate unchanged as expected. In its accompanying statement, the Federal Open Market Committee said that core inflation remained somewhat elevated.
Read more at Reuters.com Bonds News
The Fed held the benchmark 5.25 percent fed funds rate unchanged as expected. In its accompanying statement, the Federal Open Market Committee said that core inflation remained somewhat elevated.
Read more at Reuters.com Bonds News
UPDATE 2-Fed holds U.S. rates steady, stays inflation wary
(Reuters) - WASHINGTON, May 9 - The U.S. Federal Reserve on Wednesday held benchmark interest rates steady at 5.25 percent for a seventh straight meeting and again said its main worry is that inflation will fail to moderate.
The widely expected decision by the U.S. central bank's Federal Open Market Committee keeps the overnight federal funds rate target at the level it hit in June after 17 straight quarter-percentage point increases.
Read more at Reuters.com Bonds News
The widely expected decision by the U.S. central bank's Federal Open Market Committee keeps the overnight federal funds rate target at the level it hit in June after 17 straight quarter-percentage point increases.
Read more at Reuters.com Bonds News
Canada's stellar jobs growth seen easing in April
(Reuters) - The average forecast by analysts in a Reuters poll is for 18,000 jobs to have been created in April, with estimates ranging from zero to 26,000. Analysts expect the unemployment rate to stay unchanged at a three-decade low of 6.1 percent.
Canada's April employment report, due on Friday at 7 a.m. , will come after seven straight months of higher-than-expected job creation, including a stunning 54,900 new posts in March.
Read more at Reuters.com Economic News
Canada's April employment report, due on Friday at 7 a.m. , will come after seven straight months of higher-than-expected job creation, including a stunning 54,900 new posts in March.
Read more at Reuters.com Economic News
Red Hat partners with IBM on mainframes
(Reuters) - "This is a competitive win for Red Hat," said Trip Chowdhry, an analyst with Global Equities Research. "It shows that Red Hat is getting closer to IBM."
For several years, IBM has had a similar arrangement with Novell, which provides the vast majority of Linux software currently used on IBM's mainframe computers.
Read more at Reuters.com Market News
For several years, IBM has had a similar arrangement with Novell, which provides the vast majority of Linux software currently used on IBM's mainframe computers.
Read more at Reuters.com Market News
Emageon shares plunge on loss warning
(Reuters) - "The sales cycle is lengthening. It's not that the customers have decided to go with another competitor. It is in almost every case the timing on us signing a contract with the customer has been delayed," Chief Financial Officer Randall Pittman said from Birmingham, Alabama.
The lowering of the estimates prompted at least one brokerage to downgrade the stock.
Read more at Reuters.com Hot Stocks News
The lowering of the estimates prompted at least one brokerage to downgrade the stock.
Read more at Reuters.com Hot Stocks News
US STOCKS-Blue-chips flat, Cisco bogs down Nasdaq
(Reuters) - Cisco -- the world's largest maker of equipment that directs Internet traffic -- issued an outlook in line with forecasts, but analysts said investors had hoped for a positive surprise. Its shares shed over 6 percent and were the top drag on the S&P 500 and Nasdaq 100 indexes.
The Cisco weakness had seeped into other areas of the market in early trading, but buyers emerged in late morning and trimmed the declines in some tech and large-cap shares.
Read more at Reuters.com Bonds News
The Cisco weakness had seeped into other areas of the market in early trading, but buyers emerged in late morning and trimmed the declines in some tech and large-cap shares.
Read more at Reuters.com Bonds News
Cattle Futures Rise as U.S. Sales May Increase Before Holidays; Hogs Fall
(Bloomberg) -- Cattle futures rose in Chicago on speculation supermarkets will boost purchases for sales before U.S. holidays this month. Hog futures declined.
Temperatures forecast to be in the 70s and 80s Fahrenheit will bring people out to grill on Mother's Day, May 13, and Memorial Day, May 28, said Lane Broadbent, vice president of KIS Futures Inc. in Oklahoma City.
Read more at Bloomberg Commodities News
Temperatures forecast to be in the 70s and 80s Fahrenheit will bring people out to grill on Mother's Day, May 13, and Memorial Day, May 28, said Lane Broadbent, vice president of KIS Futures Inc. in Oklahoma City.
Read more at Bloomberg Commodities News
Brightpoint, OfficeMax, Tenet Healthcare, Clearwire: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 11:40 a.m. New York time.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Mexico's 10-Year Bonds Rise for Third Day Ahead of Consumer Price Report
(Bloomberg) -- Mexico's 10-year bonds rose for a third day, the longest winning streak since March, on expectations a central bank report will show consumer prices fell last month.
Yields on all of the government's bonds declined on optimism today's report will allow Mexico's central bank to avoid having to raise interest rates again this year. Banco de Mexico boosted its target lending rate in April, its first increase in almost two years, to keep inflation in check.
Read more at Bloomberg Emerging Markets News
Yields on all of the government's bonds declined on optimism today's report will allow Mexico's central bank to avoid having to raise interest rates again this year. Banco de Mexico boosted its target lending rate in April, its first increase in almost two years, to keep inflation in check.
Read more at Bloomberg Emerging Markets News
Subtropical Storm Andrea forms off east coast
(Reuters) - The system had maximum sustained winds of 45 miles per hour and was moving slowly westward at 3 mph . Little change in strength was expected as the storm drifted closer to land over the next days.
The storm was not expected to become tropical, said Richard Pasch, senior hurricane forecaster at the hurricane center.
Read more at Reuters.com Bonds News
The storm was not expected to become tropical, said Richard Pasch, senior hurricane forecaster at the hurricane center.
Read more at Reuters.com Bonds News
Gold weakens slightly ahead of US Fed meeting
(Reuters) - Gold inched lower on Wednesday ahead of the U.S. Federal Reserve meeting, with investors looking for clues to the dollar's direction, which may influence precious metals prices.
Spot gold edged down to $683.65/684.15 an ounce by 1432 GMT, against $684.30/685.80 in New York late on Tuesday, when it dropped more than $4 on a stronger dollar.
Read more at Reuters Africa
Spot gold edged down to $683.65/684.15 an ounce by 1432 GMT, against $684.30/685.80 in New York late on Tuesday, when it dropped more than $4 on a stronger dollar.
Read more at Reuters Africa
CompuCredit shares fall after loss
(Reuters) - Net interest margin was 17.9 percent for the first quarter, down from 25.2 percent a year ago.
There is also uncertainty surrounding the company's growth plans, primarily in the United Kingdom, analyst Joel Houck said in a research note.
Read more at Reuters.com Hot Stocks News
There is also uncertainty surrounding the company's growth plans, primarily in the United Kingdom, analyst Joel Houck said in a research note.
Read more at Reuters.com Hot Stocks News
CSN, Petrobras, Sonda, Unibanco and Vale do Rio Doce: Brazil Equity Movers
(Bloomberg) -- Brazil's main stock index was little changed, with miner Cia. Vale do Rio Doce rising and state- controlled oil company Petroleo Brasileiro SA falling.
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange rose 9.94, or less than 0.1 percent, to 50,287.63 as of 9:50 a.m. New York time.
Read more at Bloomberg Stocks News
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange rose 9.94, or less than 0.1 percent, to 50,287.63 as of 9:50 a.m. New York time.
Read more at Bloomberg Stocks News
UPDATE 1-Bush would veto emerging House Iraq bill - spokesman
(Reuters) - "There are restrictions on funding and there are also some of the spending items that were mentioned in the first veto message that are still in the bill," Snow told reporters aboard Air Force One as he flew with Bush to visit parts of Kansas devastated by tornadoes last week.
Asked whether Bush would veto the bill in its current form, Snow said: "Yes."
Read more at Reuters.com Bonds News
Asked whether Bush would veto the bill in its current form, Snow said: "Yes."
Read more at Reuters.com Bonds News
UPDATE1-Tasty Baking to shift Philadelphia ops; cut 215 posts
(Reuters) - With the move, the baker expects annual pre-tax cash savings of about $13 million to $15 million, net of the facility leases and before debt service.
The company said its Tastykake bakery and a "green" corporate headquarters will be located at facilities at The Navy Yard, a commercial and industrial development center in Philadelphia.
Read more at Reuters.com Bonds News
The company said its Tastykake bakery and a "green" corporate headquarters will be located at facilities at The Navy Yard, a commercial and industrial development center in Philadelphia.
Read more at Reuters.com Bonds News
TXU posts quarterly loss
(Reuters) - TXU said it took an after-tax charge of $941 million, or $2.02 per share, including a $463 million charge for canceled power plant projects and a $449 million charge for changes in the market value of its trading positions.
Excluding special items, operating earnings were 96 cents per share, down from $1.12 a year earlier and well below analysts' average forecast of $1.11 as compiled by Reuters Estimates.
Read more at Reuters.com Market News
Excluding special items, operating earnings were 96 cents per share, down from $1.12 a year earlier and well below analysts' average forecast of $1.11 as compiled by Reuters Estimates.
Read more at Reuters.com Market News
Chemed announces $180 mln notes pricing, share buyback
(Reuters) - The parent of Roto-Rooter plumbing services will also buy back 1.3 million shares for about $86 million at $65.90 a share.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
News Corp says a Dow Jones deal won't hurt buybacks
(Reuters) - News Corp. said that as of May 9, the company had purchased more than $3.3 billion of its stock under a $6 billion buyback program. The company said in a statement that it expects to complete the remaining purchases by May 2008, but that the program could be suspended or discontinued at any time.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
S.Africa finmin says some consumer exuberance tamed
(Reuters) - Higher interest rates do not necessarily result in a rapid slowdown in spending, but some of the "exuberance" evident in consumer demand has been dampened, South African Finance Minister Trevor Manuel said on Wednesday.
But he warned the central bank would have to raise rates again should consumers continue to spend as they had been, particularly in an environment of rising food prices.
Read more at Reuters Africa
But he warned the central bank would have to raise rates again should consumers continue to spend as they had been, particularly in an environment of rising food prices.
Read more at Reuters Africa
Vattenfall Says Ringhals-2 Nuclear Unit Won't Be Full-Strength Before June
(Bloomberg) -- Vattenfall AB, the Nordic region's biggest utility, said the Ringhals-2 nuclear reactor in Sweden won't be back at full capacity before June. Power prices rose.
The reactor, which was cut to 460 megawatts from 867 megawatts on May 4 because of an ``earth fault,'' will probably be back at full capacity early next month, the Stockholm-based utility said today in a message via the Nord Pool ASA power exchange.
Read more at Bloomberg Energy News
The reactor, which was cut to 460 megawatts from 867 megawatts on May 4 because of an ``earth fault,'' will probably be back at full capacity early next month, the Stockholm-based utility said today in a message via the Nord Pool ASA power exchange.
Read more at Bloomberg Energy News
U.K. FTSE 100 Index Falls, Led by Sage Group on Earnings; Prudential Drops
(Bloomberg) -- U.K. stocks fell, paced by Sage Group Plc after the software publishing company reported a decline in earnings. Prudential Plc slid after JPMorgan Cazenove lowered its recommendation for Britain's second-biggest insurer.
Rio Tinto Group limited declines on speculation BHP Billiton Ltd. may make an offer for the company. Shares of DSG International Plc rose after Morgan Stanley upgraded the stock.
Read more at Bloomberg Stocks News
Rio Tinto Group limited declines on speculation BHP Billiton Ltd. may make an offer for the company. Shares of DSG International Plc rose after Morgan Stanley upgraded the stock.
Read more at Bloomberg Stocks News
Thailand Gives Exporters 15 Days to Convert Dollar Earnings; Baht Advance
(Bloomberg) -- Thailand's central bank has extended the period the nation's exporters have to convert their overseas earnings into the local currency.
Exporters will have 15 days to change their foreign currency earnings from a previous seven days, the central bank said in a circular posted on its Web site today. The move, which was effective May 4, will give exporters ``flexibility,'' the Bangkok- based Bank of Thailand said.
Read more at Bloomberg Currencies News
Exporters will have 15 days to change their foreign currency earnings from a previous seven days, the central bank said in a circular posted on its Web site today. The move, which was effective May 4, will give exporters ``flexibility,'' the Bangkok- based Bank of Thailand said.
Read more at Bloomberg Currencies News
JGBs fall on rate view before Fukui, GDP data
(Reuters) - The yield on two-year notes hit a 10-month high early in the session as market participants bet that shorter maturities will underperform longer-dated bonds on the view that the BOJ may soon raise its overnight call rate.
Investors believe that better-than-expected gross domestic product data for the January-March quarter due on May 17 may bolster the case for a rate rise in the July-September quarter.
Read more at Reuters.com Bonds News
Investors believe that better-than-expected gross domestic product data for the January-March quarter due on May 17 may bolster the case for a rate rise in the July-September quarter.
Read more at Reuters.com Bonds News
Coal for Year-Ahead Delivery to Amsterdam Advances to Extend Two-Year High
(Bloomberg) -- Coal burned by power stations for year- ahead delivery to Amsterdam, Rotterdam or Antwerp rose for a fifth consecutive day to build on yesterday's closing price, the highest since at least March 2005.
The price gained 25 cents, or 0.3 percent, to $75 a metric ton as of 9:20 a.m. in London, according to ICAP Plc prices. It has gained 10 percent this year, implying demand or freight costs are expected to rise in the next 12 months.
Read more at Bloomberg Energy News
The price gained 25 cents, or 0.3 percent, to $75 a metric ton as of 9:20 a.m. in London, according to ICAP Plc prices. It has gained 10 percent this year, implying demand or freight costs are expected to rise in the next 12 months.
Read more at Bloomberg Energy News
Commodities boom fails to reduce poverty - experts
(Reuters) - A commodity boom this decade has failed to reduce poverty in many developing countries as many producers are left out of the market, international commodity experts said on Tuesday.
In most commodity-dependent developing countries, particularly in Africa, economic growth has fallen far short of expectations, said Ali Mchumo, managing director of the Common Fund for Commodities (CFC), an international aid group.
Read more at Reuters Africa
In most commodity-dependent developing countries, particularly in Africa, economic growth has fallen far short of expectations, said Ali Mchumo, managing director of the Common Fund for Commodities (CFC), an international aid group.
Read more at Reuters Africa
Shanghai copper, zinc rise, catching up with LME
(Reuters) - Shanghai copper prices rose 1 percent on Wednesday, bringing the market into line with London futures, after a jump the previous session following a week-long break was capped at Shanghai's upside limit.
Shanghai July copper ended at 73,190 yuan a tonne, up from 72,480 at Tuesday's close. Shanghai July zinc was at 34,555 yuan, up 850 or 2.5 percent.
Read more at Reuters Africa
Shanghai July copper ended at 73,190 yuan a tonne, up from 72,480 at Tuesday's close. Shanghai July zinc was at 34,555 yuan, up 850 or 2.5 percent.
Read more at Reuters Africa
UPDATE 1-Dutch regulator says stamp price proposal workable
(Reuters) - Analysts have said that the proposal by the Christian Democrats and the Labour party, both part of the ruling Dutch coalition, could knock up to 10 percent off TNT's valuation.
The proposal would set stamp prices for part of TNT's mail business based on costs and a "reasonable return" initially, followed by increases in line with inflation in the following years.
Read more at Reuters.com Government Filings News
The proposal would set stamp prices for part of TNT's mail business based on costs and a "reasonable return" initially, followed by increases in line with inflation in the following years.
Read more at Reuters.com Government Filings News
Bulgaria Cancels Talks on Sale of Bobov Dol Power Plant to Greece's PPC
(Bloomberg) -- Bulgaria canceled talks to sell the state-run Bobov Dol electricity plant to Public Power Corp., thwarting the Greek company's effort to make its first acquisition abroad.
``PPC has been informed on May 8 by the Bulgarian Privatization Authority of a decision to end the privatization of the Bobov Dol thermal plant,'' Athens-based Public Power, also known as PPC, said today in an e-mailed statement.
Read more at Bloomberg Emerging Markets News
``PPC has been informed on May 8 by the Bulgarian Privatization Authority of a decision to end the privatization of the Bobov Dol thermal plant,'' Athens-based Public Power, also known as PPC, said today in an e-mailed statement.
Read more at Bloomberg Emerging Markets News
Vietnam Bond Yield at Two-Month High as Stocks Gain; Dong Rises Second Day
(Bloomberg) -- Vietnamese bonds were unchanged, with benchmark five-year yields at the highest level in more than two months, on speculation some investors were favoring stocks.
The yield on the notes has risen more than half a percentage point from 6.725 percent on March 28, according to data compiled by Bloomberg. Yields move inversely to prices. The benchmark stock index gained for a seventh day today, the longest winning streak since January.
Read more at Bloomberg Bonds News
The yield on the notes has risen more than half a percentage point from 6.725 percent on March 28, according to data compiled by Bloomberg. Yields move inversely to prices. The benchmark stock index gained for a seventh day today, the longest winning streak since January.
Read more at Bloomberg Bonds News
U.S. Treasuries Are Little Changed Before Federal Reserve Policy Meeting
(Bloomberg) -- Treasuries were little changed before a meeting today at which Federal Reserve policy makers will probably keep the benchmark interest rate unchanged.
The Fed's outlook for inflation will be the focus for investors as all economists surveyed by Bloomberg News forecast no change in the 5.25 percent benchmark rate. Futures trading shows investors reduced bets the key rate will be cut this year.
Read more at Bloomberg Bonds News
The Fed's outlook for inflation will be the focus for investors as all economists surveyed by Bloomberg News forecast no change in the 5.25 percent benchmark rate. Futures trading shows investors reduced bets the key rate will be cut this year.
Read more at Bloomberg Bonds News
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