(Bloomberg) -- European 10-year bond-yields held near the highest in three years as European Central Bank President Jean-Claude Trichet signaled interest rates will be raised in June.
Benchmark 10-year yields have risen 22 basis points in the past three months as the ECB said robust economic growth may fan inflation in the region and merits higher rates. Bonds were steady as Trichet pledged ``strong vigilance'' from rate setters yesterday, flagging a rate move in June, as yields already reflect expectations for two more rate increases this year.
Read more at Bloomberg Bonds News
Thursday, May 10, 2007
Yen steadies, investors cautious on risk
(Reuters) - The yen steadied on Friday after making broad gains in the previous session, as investors trimmed short positions on caution that falls in Asian stocks following a pullback in U.S. equity markets could prompt more risk-cutting.
If investors see severe pullbacks in global equity markets, traders said, they may decide to cut risky positions such as carry trades, in which low-yielding currencies like the yen are used to fund investment in high-yielding currencies and assets.
Read more at Reuters Africa
If investors see severe pullbacks in global equity markets, traders said, they may decide to cut risky positions such as carry trades, in which low-yielding currencies like the yen are used to fund investment in high-yielding currencies and assets.
Read more at Reuters Africa
Wendy's shareholder urges auction of company -WSJ
(Reuters) - "We strongly believe that an auction to the highest bidder is the best way for the current board and management to maximize the value of the business," the Journal cited the letter as saying.
Wendy's and Highfields could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Wendy's and Highfields could not immediately be reached for comment.
Read more at Reuters.com Mergers News
China's Yuan Heads for Weekly Gain as Trade Surplus Doubles in April
(Bloomberg) -- The yuan had the biggest weekly gain in almost three months on speculation China will use currency gains to prevent its trade surplus from widening and driving up record foreign-exchange reserves.
The central bank may also allow yuan appreciation before a meeting between Chinese Vice Premier Wu Yi and U.S. Treasury Secretary Henry Paulson to deflect criticism on the exchange rate, said Chris Leung, senior economist at DBS Bank Hong Kong Ltd. China's trade surplus more than doubled in April from the previous month, according to a Xinhua News Agency report, citing data from the nation's customs bureau.
Read more at Bloomberg Currencies News
The central bank may also allow yuan appreciation before a meeting between Chinese Vice Premier Wu Yi and U.S. Treasury Secretary Henry Paulson to deflect criticism on the exchange rate, said Chris Leung, senior economist at DBS Bank Hong Kong Ltd. China's trade surplus more than doubled in April from the previous month, according to a Xinhua News Agency report, citing data from the nation's customs bureau.
Read more at Bloomberg Currencies News
Thailand's Credit Rating Is Affirmed by Fitch on Current Account Surplus
(Bloomberg) -- Thailand's credit ratings were affirmed by Fitch Ratings, citing the country's widening current account and trade surplus.
The long-term foreign issuer default rating remains at BBB+, Fitch said today in a statement. Fitch also affirmed the short- term foreign currency rating at F2 with stable outlook.
Read more at Bloomberg Emerging Markets News
The long-term foreign issuer default rating remains at BBB+, Fitch said today in a statement. Fitch also affirmed the short- term foreign currency rating at F2 with stable outlook.
Read more at Bloomberg Emerging Markets News
Indonesian Rupiah Slumps as Investors Cut Risk After Slide in U.S. Stocks
(Bloomberg) -- Indonesia's rupiah tumbled after a decline in U.S. stocks cut demand for relatively riskier assets.
The rupiah dropped 0.9 percent to 8,855 against the dollar as of 8:40 a.m. in Jakarta after falling as much as 1.5 percent to 8,893, the biggest decline since July.
Read more at Bloomberg Currencies News
The rupiah dropped 0.9 percent to 8,855 against the dollar as of 8:40 a.m. in Jakarta after falling as much as 1.5 percent to 8,893, the biggest decline since July.
Read more at Bloomberg Currencies News
Wheeling-Pittsburgh posts wider quarterly loss
(Reuters) - The company said that its quarter loss was "a bit higher than expected" but said it included $4 million in accruals for a salary work-force reduction made in March.
Wheeling-Pittsburgh said it expects to save about $9 million a year from the eventual reduction of more than 90 salaried employees.
Read more at Reuters.com Market News
Wheeling-Pittsburgh said it expects to save about $9 million a year from the eventual reduction of more than 90 salaried employees.
Read more at Reuters.com Market News
Nvidia quarterly profit increases, shares rise
(Reuters) - "Q2 is usually the slowest quarter for the PC industry. Even so, we believe revenue in Q2 will be flat to slightly up" from the previous quarter, Chief Financial Officer Marvin Burkett told a conference call.
Nvidia's revenue was $844.3 million in the first quarter ended April 29, up 24 percent from a year earlier and higher than the $835 million that was the average forecast of analysts on Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Nvidia's revenue was $844.3 million in the first quarter ended April 29, up 24 percent from a year earlier and higher than the $835 million that was the average forecast of analysts on Reuters Estimates.
Read more at Reuters.com Hot Stocks News
South Korea's Kospi Index Falls; Led by Samsung Electronics, Hyundai Heavy
(Bloomberg) -- South Korea's benchmark stock index, the Kospi Index, fell 0.96 percent at 9:05 a.m.
The index of 730 companies traded on the Korea Exchange fell 15.35 to 1,584.33. Among the stocks in the index, 131 rose, 389 fell and 210 were unchanged.
Read more at Bloomberg Stocks News
The index of 730 companies traded on the Korea Exchange fell 15.35 to 1,584.33. Among the stocks in the index, 131 rose, 389 fell and 210 were unchanged.
Read more at Bloomberg Stocks News
New Zealand Retail Spending Probably Fell For First Time in Four Months
(Bloomberg) -- New Zealand's retail sales probably fell for the first time in four months in March, adding to signs higher interest rates and rising unemployment may curb demand this year.
Sales declined 0.2 percent from February, when they rose 1.9 percent, according to the median estimate of 11 economists surveyed by Bloomberg News. Statistics New Zealand releases the report in Wellington on May 14 at 10:45 a.m.
Read more at Bloomberg Bonds News
Sales declined 0.2 percent from February, when they rose 1.9 percent, according to the median estimate of 11 economists surveyed by Bloomberg News. Statistics New Zealand releases the report in Wellington on May 14 at 10:45 a.m.
Read more at Bloomberg Bonds News
Colombia senate OKs government transfers project
(Reuters) - Local mayors and governors are lobbying Congress against the proposed constitutional amendment, which would limit central government cash payments to a top increase of 5 percent a year plus inflation.
Without approval of the bill, Colombia constitution says the government must transfer nearly half of tax revenue increases to local towns and provinces.
Read more at Reuters.com Economic News
Without approval of the bill, Colombia constitution says the government must transfer nearly half of tax revenue increases to local towns and provinces.
Read more at Reuters.com Economic News
Acom, Geo, Konica Minolta, Showa Shell, Takefuji: Japanese Equity Preview
(Bloomberg) -- The following stocks may move in Japanese markets tomorrow. Prices are as of the close of trading. Statements were released after the close. Stock symbols are in parentheses.
Acom Co. (8572 JT): Japan's second-largest consumer lender by assets forecast a return to profit this year after mounting customer claims for refunds led to its first annual loss in at least 13 years. Net income in the year to March 2008 will likely be 47 billion yen ($391 million), compared with a loss of 438 billion yen in the year ended March 31, the company said in a statement. The stock slipped 40 yen, or 0.9 percent, to 4,420.
Read more at Bloomberg Stocks News
Acom Co. (8572 JT): Japan's second-largest consumer lender by assets forecast a return to profit this year after mounting customer claims for refunds led to its first annual loss in at least 13 years. Net income in the year to March 2008 will likely be 47 billion yen ($391 million), compared with a loss of 438 billion yen in the year ended March 31, the company said in a statement. The stock slipped 40 yen, or 0.9 percent, to 4,420.
Read more at Bloomberg Stocks News
GMAC sells $2 bln notes in two parts - source
(Reuters) - The sale also included $1 billion of five-year 6.625 percent notes priced at 99.619 to yield 2.17 percentage points more than U.S. Treasuries.
The joint lead managers on the sale are Barclays Capital, Citigroup Global Markets, Credit Suisse and Deutsche Bank, the source said.
Read more at Reuters.com Bonds News
The joint lead managers on the sale are Barclays Capital, Citigroup Global Markets, Credit Suisse and Deutsche Bank, the source said.
Read more at Reuters.com Bonds News
Bausch & Lomb sees higher profit
(Reuters) - Rochester, New York-based Bausch & Lomb said 2006 earnings were reduced by a total of $19.6 million, or 35 cents per share, related to its recall of ReNu with MoistureLoc solution in May.
Consolidated net sales are seen at $578.9 million for the first quarter, up 6 percent from $546 million a year earlier.
Read more at Reuters.com Business News
Consolidated net sales are seen at $578.9 million for the first quarter, up 6 percent from $546 million a year earlier.
Read more at Reuters.com Business News
Dollar May Extend Gain Versus Euro on Outlook for Inflation, Fed Rate Cuts
(Bloomberg) -- The dollar may extend its gain against the euro for a fourth straight day on speculation inflation will discourage the Federal Reserve from reducing borrowing costs later this year.
A Labor Department report today is forecast by economists to show annual wholesale prices excluding food and energy accelerated in April for the first time in four months. The Federal Reserve this week held its benchmark at 5.25 percent, saying inflation remains the ``predominant'' concern.
Read more at Bloomberg Currencies News
A Labor Department report today is forecast by economists to show annual wholesale prices excluding food and energy accelerated in April for the first time in four months. The Federal Reserve this week held its benchmark at 5.25 percent, saying inflation remains the ``predominant'' concern.
Read more at Bloomberg Currencies News
U.S. Government Bonds Rise After Treasury Department's 30-Year Auction
(Bloomberg) -- U.S. government securities rose after the U.S. Treasury auctioned $5 billion of 30-year bonds, on signs inflation pressures may be easing.
The 30-year security gained after dropping the most in almost two weeks yesterday when the Federal Reserve held borrowing costs at 5.25 percent and said inflation remains the ``predominant policy concern.'' Longer-maturity bonds are more sensitive to inflation expectations than shorter-dated notes. Treasuries also benefited as stocks dropped the most in almost two months, traders said.
Read more at Bloomberg Bonds News
The 30-year security gained after dropping the most in almost two weeks yesterday when the Federal Reserve held borrowing costs at 5.25 percent and said inflation remains the ``predominant policy concern.'' Longer-maturity bonds are more sensitive to inflation expectations than shorter-dated notes. Treasuries also benefited as stocks dropped the most in almost two months, traders said.
Read more at Bloomberg Bonds News
DTS Inc sees Q1 revenue of $12.6 mlm; to delay 10-Q
(Reuters) - The company added that it was narrowing its discussions to a select group of strategic and financial buyers for its DTS Digital Cinema business. The sale is expected to be completed in the second half of 2007.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
US CREDIT-Marsh & McLennan spread weakness seen persisting
(Reuters) - New York-based Marsh & McLennan, the world's largest insurance broker, said on Tuesday that first-quarter profit dropped about 36 percent as revenues in its biggest unit fell short of expectations. For details, see [ID:nN08430265].
The company, which helps other firms find insurance for their businesses, also announced a stock buyback of $500 million, to be completed before the end of the second quarter, with funding drawn from a $3.9 billion sale of the company's asset-management unit Putnam Investments.
Read more at Reuters.com Bonds News
The company, which helps other firms find insurance for their businesses, also announced a stock buyback of $500 million, to be completed before the end of the second quarter, with funding drawn from a $3.9 billion sale of the company's asset-management unit Putnam Investments.
Read more at Reuters.com Bonds News
FACTBOX - FICO credit score components
(Reuters) - Here are components of the FICO score:
-- Payment history, 35 percent of score. Late payments on credit cards, mortgages, student loans etc. will show up here and reduce the score.
Read more at Reuters.com Bonds News
-- Payment history, 35 percent of score. Late payments on credit cards, mortgages, student loans etc. will show up here and reduce the score.
Read more at Reuters.com Bonds News
Moroccan Stocks Drop on Price, Led by Maroc Telecom: World's Biggest Mover
(Bloomberg) -- Moroccan stocks fell for a second day, posting the biggest move among equity markets included in global benchmarks, amid concern that share prices have outpaced prospects for profit growth.
Maroc Telecom, the largest telephone company in the north- African kingdom, led the decline.
Read more at Bloomberg Stocks News
Maroc Telecom, the largest telephone company in the north- African kingdom, led the decline.
Read more at Bloomberg Stocks News
US STOCKS-Indexes fall on economic worries, retail sales
(Reuters) - Market participants also noted the temptation for investors to lock in profits given the strong run of recent sessions.
An earlier Easter this year and inclement weather in parts of the U.S. led analysts to set low estimates for April retail sales, but many companies still missed their forecasts.
Read more at Reuters.com Bonds News
An earlier Easter this year and inclement weather in parts of the U.S. led analysts to set low estimates for April retail sales, but many companies still missed their forecasts.
Read more at Reuters.com Bonds News
Atlantic City gamblers lose $396.8 mln in April
(Reuters) - Slot machine revenue dropped 12.4 percent, while table game winnings fell 3.1 percent, the regulator said.
Atlantic City casinos are trying to transform the oceanside resort into an entertainment destination like Las Vegas but have faced competition from new gaming venues in nearby Pennsylvania.
Read more at Reuters.com Market News
Atlantic City casinos are trying to transform the oceanside resort into an entertainment destination like Las Vegas but have faced competition from new gaming venues in nearby Pennsylvania.
Read more at Reuters.com Market News
Argentine Stocks Fall, Led by Tenaris and Galicia: World's Biggest Mover
(Bloomberg) -- Argentine stocks fell the most in almost four weeks, led by banks and energy companies, as investors shed equities worldwide on concern that slower U.S. growth will curtail profits.
Argentina's Merval index fell 54.93, or 2.6 percent, to 2100.33 at 1:49 p.m. New York time, the steepest drop since March 13 and the biggest move among markets included in global benchmarks. Brazil's Bovespa index fell 1,070.07, or 2.1 percent, to 50,230.32
Read more at Bloomberg Stocks News
Argentina's Merval index fell 54.93, or 2.6 percent, to 2100.33 at 1:49 p.m. New York time, the steepest drop since March 13 and the biggest move among markets included in global benchmarks. Brazil's Bovespa index fell 1,070.07, or 2.1 percent, to 50,230.32
Read more at Bloomberg Stocks News
Merck negotiates generics sale with three bidders-paper
(Reuters) - Other bidders dropped out last week, when talk of a price of more than 4 billion euros for the unit emerged, Handelsblatt said in a pre-released article to be published in Friday's edition.
Merck and Stada could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Merck and Stada could not immediately be reached for comment.
Read more at Reuters.com Mergers News
U.S. Treasuries Maintain Gains After $5 Billion Auction of 30-Year Bond
(Bloomberg) -- Treasuries maintained gains after a $5 billion auction of 30-year securities attracted a below-average bid from a class of investors including foreign central banks.
``The auction went a little weaker than expected,'' said Charles Comiskey, head of U.S. government bond trading at HSBC Securities USA Inc. in New York, one of the 21 primary dealers that underwrite Treasury auctions.
Read more at Bloomberg Bonds News
``The auction went a little weaker than expected,'' said Charles Comiskey, head of U.S. government bond trading at HSBC Securities USA Inc. in New York, one of the 21 primary dealers that underwrite Treasury auctions.
Read more at Bloomberg Bonds News
Tyco Sued by AIG Over Plan to Buy Back $6.6 Billion of Debt for Breakup
(Bloomberg) -- American International Group Inc., the world's biggest insurance company, sued Tyco International Ltd. in effort to stop a plan by the company to buy back $6.6 billion of debt.
Bondholders led by AIG have claimed that Tyco is offering about $95 million less than what they are entitled to under contracts governing the terms of the securities. The suit was filed late yesterday in federal court for the Southern District of New York. A copy was sent today by Paul, Weiss, Rifkind, Wharton & Garrison LLP, which represents Tyco's bondholders. Andrew Rosenberg, a lawyer at the firm in New York, declined to comment.
Read more at Bloomberg Bonds News
Bondholders led by AIG have claimed that Tyco is offering about $95 million less than what they are entitled to under contracts governing the terms of the securities. The suit was filed late yesterday in federal court for the Southern District of New York. A copy was sent today by Paul, Weiss, Rifkind, Wharton & Garrison LLP, which represents Tyco's bondholders. Andrew Rosenberg, a lawyer at the firm in New York, declined to comment.
Read more at Bloomberg Bonds News
Lawyers plead guilty to fraud in U.S. trading case
(Reuters) - Randi Collotta, who worked for Morgan Stanley's compliance division in New York, admitted to giving information about upcoming mergers and acquisitions to her husband, who is in private practice.
Christopher Collotta told the court he shared some of the insider information with Florida broker Marc Jurman, who agreed to share part of his profits with the Collottas and also passed the information along to others.
Read more at Reuters.com Bonds News
Christopher Collotta told the court he shared some of the insider information with Florida broker Marc Jurman, who agreed to share part of his profits with the Collottas and also passed the information along to others.
Read more at Reuters.com Bonds News
GMAC LLC launches two-part note sale
(Reuters) - The offering includes a two-year floating-rate note issue expected to have a coupon rate of 1.25 percentage points over the three-month London interbank offered rate.
It also includes a five-year fixed-rate note issue expected to yield about 2.17 percentage points over U.S. Treasuries.
Read more at Reuters.com Bonds News
It also includes a five-year fixed-rate note issue expected to yield about 2.17 percentage points over U.S. Treasuries.
Read more at Reuters.com Bonds News
Moroccan Stocks Drop, Paced by Maroc Telecom: World's Biggest Mover
(Bloomberg) -- Moroccan stocks fell for a second day, posting the biggest move among equity markets included in global benchmarks, amid concern that share prices have outpaced prospects for profit growth.
Maroc Telecom, the largest telephone company in the north- African kingdom, led the decline.
Read more at Bloomberg Stocks News
Maroc Telecom, the largest telephone company in the north- African kingdom, led the decline.
Read more at Bloomberg Stocks News
Exxaro, ARM Coal, others win new coal export quotas
(Reuters) - South Africa's Exxaro Resources Ltd and a unit of African Rainbow Minerals got the two biggest coal export entitlements under an expansion of the Richards Bay Coal Terminal (RBCT) due by 2009, the terminal said on Thursday.
Exxaro, which spun off from Kumba Resources last year, said its total entitlement will jump to 5.3 million tonnes per year.
Read more at Reuters Africa
Exxaro, which spun off from Kumba Resources last year, said its total entitlement will jump to 5.3 million tonnes per year.
Read more at Reuters Africa
Mirant reports loss on hedging
(Reuters) - Excluding special items, the company said it earned $218 million, or 78 cents per share, up from $142 million, or 46 cents per share, a year ago.
The special items this quarter included a $305 million loss on the value of its trading position used to lock in profit. In the year-earlier period, Mirant had a gain of $300 million on its trading position.
Read more at Reuters.com Mergers News
The special items this quarter included a $305 million loss on the value of its trading position used to lock in profit. In the year-earlier period, Mirant had a gain of $300 million on its trading position.
Read more at Reuters.com Mergers News
Treasury's Paulson: markets should set forex
(Reuters) - In a CNBC-TV interview taped on Wednesday and aired a day later, Paulson repeated a standard line that currency values should be set in competitive markets and should reflect the strength of a country's economy.
"I believe very strongly that a strong dollar is in our nation's interest and that our currency rates, like all currency values, should be set in a competitive marketplace based upon economic fundamentals," Paulson said.
Read more at Reuters.com Bonds News
"I believe very strongly that a strong dollar is in our nation's interest and that our currency rates, like all currency values, should be set in a competitive marketplace based upon economic fundamentals," Paulson said.
Read more at Reuters.com Bonds News
Ford Investors, Wary of Hurdles for Mulally, Aren't Buying Comeback Plan
(Bloomberg) -- Ford Motor Co.'s new chief executive officer, Alan Mulally, says he must regain the trust of U.S. customers to recoup sales and restore profit. Winning back investors may take longer.
Mulally will give a progress report to shareholders today in his first annual meeting since joining Ford from Boeing Co. eight months ago. As an outsider CEO, he invokes comparisons to Carlos Ghosn, who in 1999 was dispatched by Renault SA to rescue Nissan Motor Co. Both executives were charged with shaking up companies racked by record losses.
Read more at Bloomberg Exclusive News
Mulally will give a progress report to shareholders today in his first annual meeting since joining Ford from Boeing Co. eight months ago. As an outsider CEO, he invokes comparisons to Carlos Ghosn, who in 1999 was dispatched by Renault SA to rescue Nissan Motor Co. Both executives were charged with shaking up companies racked by record losses.
Read more at Bloomberg Exclusive News
U.K. Government Bond Yields Hold Near Highest Since 2000 as BOE Lifts Rate
(Bloomberg) -- U.K. government bond yields held near their highest since November 2000 after Bank of England policy makers today raised interest rates by a quarter-point to a six- year high to counter inflation.
The rate increase was in line with forecast of all 61 economists surveyed by Bloomberg News. Reports earlier today showed house prices rose in April and manufacturing expanded the most in 10 months in March.
Read more at Bloomberg Bonds News
The rate increase was in line with forecast of all 61 economists surveyed by Bloomberg News. Reports earlier today showed house prices rose in April and manufacturing expanded the most in 10 months in March.
Read more at Bloomberg Bonds News
UPDATE 2-Spectrum posts large quarterly loss, shares plunge
(Reuters) - The company, which grew rapidly through acquisitions, has been trying to sell its home and garden business for months and is looking at selling other assets.
Any home and garden sale is being put on hold during the unit's important spring and summer season, Chairman and Chief Executive David Jones said during a conference call.
Read more at Reuters.com Mergers News
Any home and garden sale is being put on hold during the unit's important spring and summer season, Chairman and Chief Executive David Jones said during a conference call.
Read more at Reuters.com Mergers News
JetBlue pushes out CEO Neeleman
(Reuters) - The budget carrier replaced Neeleman, 47, with president and chief operating officer Dave Barger, 49, effective immediately.
The sudden change in leadership comes after JetBlue suffered an embarrassing service disruption on February 14 that exposed weaknesses in the seven-year-old airline's operations.
Read more at Reuters.com Business News
The sudden change in leadership comes after JetBlue suffered an embarrassing service disruption on February 14 that exposed weaknesses in the seven-year-old airline's operations.
Read more at Reuters.com Business News
UPDATE 1-Duckwall-ALCO April same-store sales fall
(Reuters) - Sales from continuing operations fell about 3.4 percent to $35.4 million for the four weeks ended April 29, 2007, the Abilene, Kansas-based company said.
The company's basic business was reasonably strong, but seasonal categories were below last year's levels because of inclement weather conditions, Chief Executive Bruce Dale said in a statement.
Read more at Reuters.com Market News
The company's basic business was reasonably strong, but seasonal categories were below last year's levels because of inclement weather conditions, Chief Executive Bruce Dale said in a statement.
Read more at Reuters.com Market News
Bebe Stores, Home Solutions, Rio Tinto, Whole Foods: 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 9:30 a.m. New York time.
Shares of some U.S. retailers declined after an earlier Easter limited gift purchases last month and the coldest April in a decade curbed sales of lightweight clothing.
Read more at Bloomberg Stocks News
Shares of some U.S. retailers declined after an earlier Easter limited gift purchases last month and the coldest April in a decade curbed sales of lightweight clothing.
Read more at Bloomberg Stocks News
Jobless claims fell 9,000 last week
(Reuters) - There were no special factors behind the drop in new claims, a Labor Department analyst said. The last time new claims were this low was in the week ended January 13, when they totaled 287,000.
Analysts polled by Reuters were expecting a rise of 10,000 in new claims from the initially reported 305,000 in the week ended April 28.
Read more at Reuters.com Economic News
Analysts polled by Reuters were expecting a rise of 10,000 in new claims from the initially reported 305,000 in the week ended April 28.
Read more at Reuters.com Economic News
RPT-Chesapeake prices $1 billion of convertible senior notes
(Reuters) - The convertible notes will bear interest at a rate of 2.50 percent per annum, the company said in a statement.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Polish Shares Slump, Led by KGHM; Hungary's BUX Index Climbs to Record
(Bloomberg) -- Shares in Poland slumped, led by KGHM Polska Miedz SA, which mines more copper in Europe than any other competitor.
Hungarian stocks climbed to a record, paced by Mol Nyrt., the nation's largest refiner, and OTP Bank Nyrt., the biggest bank, after UBS AG recommended the shares.
Read more at Bloomberg Stocks News
Hungarian stocks climbed to a record, paced by Mol Nyrt., the nation's largest refiner, and OTP Bank Nyrt., the biggest bank, after UBS AG recommended the shares.
Read more at Bloomberg Stocks News
UPDATE1-Stein Mart April same-store sales fall;trims Q1 EPS view
(Reuters) - For the four weeks ended May 5, the retailer of designer apparel's total sales fell 11.5 percent to $109.3 million.
Stein Mart said April sales were hurt by this year's earlier Easter and cold weather at the beginning of the month.
Read more at Reuters.com Market News
Stein Mart said April sales were hurt by this year's earlier Easter and cold weather at the beginning of the month.
Read more at Reuters.com Market News
TJX same-store sales fall 1 percent in April
(Reuters) - Analysts, on average, had been expecting same-store sales to range between a decline of 4 percent, to a rise of 4 percent, with an average view of flat sales at established stores, according to a Reuters survey.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Nordstrom same-store sales rose 3.1 pct in April
(Reuters) - The Seattle-based retailer said preliminary data indicated total sales for the four weeks ended May 5 rose 3.3 percent to $604.0 million.
For the first quarter, total sales rose 9.3 percent to $1.95 billion.
Read more at Reuters.com Market News
For the first quarter, total sales rose 9.3 percent to $1.95 billion.
Read more at Reuters.com Market News
U.S. Treasuries Are Little Changed After Import Price, Jobless Claims Data
(Bloomberg) -- Treasuries were little changed after a government report showed price increases of goods imported into the U.S. exceeded economists' forecasts while separate data indicated initial jobless claims declined.
Two-year notes fell the most in more than a month yesterday after the Federal Reserve said inflation is its primary concern and kept the U.S. benchmark interest rate at 5.25 percent for a seventh meeting. A government report on April retail sales will be released tomorrow.
Read more at Bloomberg Bonds News
Two-year notes fell the most in more than a month yesterday after the Federal Reserve said inflation is its primary concern and kept the U.S. benchmark interest rate at 5.25 percent for a seventh meeting. A government report on April retail sales will be released tomorrow.
Read more at Bloomberg Bonds News
Georgia Gulf, Rio Tinto, Stage Stores, Whole Foods: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
Alon USA Energy Inc. (ALJ US) fell $1.67, or 4.5 percent, to $35.70 in trading before the open of U.S. exchanges. The oil company said first-quarter profit, excluding some items, was 75 cents a share. Five analysts surveyed by Bloomberg estimated, on average, 77 cents.
Read more at Bloomberg Stocks News
Alon USA Energy Inc. (ALJ US) fell $1.67, or 4.5 percent, to $35.70 in trading before the open of U.S. exchanges. The oil company said first-quarter profit, excluding some items, was 75 cents a share. Five analysts surveyed by Bloomberg estimated, on average, 77 cents.
Read more at Bloomberg Stocks News
Retail Ventures Q1 same-store sales fall
(Reuters) - The Columbus, Ohio-based company reported sales of $754.1 million for the 13 weeks ended May 5, compared with $721.5 million in the year-ago period.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Africa airlines must stop brain drain - industry body
(Reuters) - African aviation officials should use their political and diplomatic weight to stop Asian and Gulf carriers luring away their pilots, the head of the continent's airlines association said on Thursday.
"Airlines from Gulf states and Asia are poaching pilots, engineers and cabin crew who have been trained by African airlines," Christian Folly-Kossi, secretary of the African Airlines Association told a two-day aviation conference in the Ethiopian capital Addis Ababa.
Read more at Reuters Africa
"Airlines from Gulf states and Asia are poaching pilots, engineers and cabin crew who have been trained by African airlines," Christian Folly-Kossi, secretary of the African Airlines Association told a two-day aviation conference in the Ethiopian capital Addis Ababa.
Read more at Reuters Africa
ABN Amro's Niedringhaus Resigns to Run Global Fixed-Income at VTB Group
(Bloomberg) -- George Niedringhaus, global head of emerging markets syndicate at ABN Amro Holding NV, resigned to join VTB Bank Europe Plc, the European unit of Russia's biggest bank, VTB said in a statement.
Niedringhaus will run VTB Group's global markets fixed- income trading and distribution from London, the Russian bank said.
Read more at Bloomberg Bonds News
Niedringhaus will run VTB Group's global markets fixed- income trading and distribution from London, the Russian bank said.
Read more at Bloomberg Bonds News
Mega Macs beef up McDonald's Japan Q1 and forecasts
(Reuters) - That compares with 3.6 billion yen made in 2006.
Also helped by store revamps, free coffee coupons and 24-hour service at more stores, particularly drive-through stores, McDonald's Japan net profit for January-March soared to 2.9 billion yen from 22 million yen.
Read more at Reuters.com Market News
Also helped by store revamps, free coffee coupons and 24-hour service at more stores, particularly drive-through stores, McDonald's Japan net profit for January-March soared to 2.9 billion yen from 22 million yen.
Read more at Reuters.com Market News
Standard Chartered Says Buy Rupiah; Central Bank to Allow Gains on Inflows
(Bloomberg) -- Standard Chartered Plc recommends investors buy the Indonesian rupiah because the central bank will allow the currency to strengthen.
Investor inflows into the nation's stocks and bonds have helped the rupiah appreciate 3.8 percent this month, the best performance in the world. Bank Indonesia Deputy Governor Aslim Tadjuddin said today the currency's rise is positive for the economy. Finance Minister Sri Mulyani Indrawati said a strengthening rupiah will help slow inflation and boost growth.
Read more at Bloomberg Currencies News
Investor inflows into the nation's stocks and bonds have helped the rupiah appreciate 3.8 percent this month, the best performance in the world. Bank Indonesia Deputy Governor Aslim Tadjuddin said today the currency's rise is positive for the economy. Finance Minister Sri Mulyani Indrawati said a strengthening rupiah will help slow inflation and boost growth.
Read more at Bloomberg Currencies News
No-surprises Fed meeting propels stocks higher
(Reuters) - U.S. stocks rose on Wednesday after the Federal Reserve's latest policy meeting ended without any unwelcome surprises, allowing investors to refocus on the solid outlook for corporate profits.
Texas Instruments shares jumped 4.7 percent after the world's biggest maker of chips for mobile phones said it had raised its profit margin targets. The Philadelphia Stock Exchange index of semiconductors rose 1.7 percent.
Read more at Reuters Africa
Texas Instruments shares jumped 4.7 percent after the world's biggest maker of chips for mobile phones said it had raised its profit margin targets. The Philadelphia Stock Exchange index of semiconductors rose 1.7 percent.
Read more at Reuters Africa
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