Atos Origin, BNP, Cap Gemini and Societe Generale: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange. Stock symbols are in
parentheses and prices are from the last close.

The CAC 40 Index fell 87.38, or 1.5 percent, to 5890.49,
declining for a fourth day. The SBF 120 Index also decreased 1.5
percent.


Read more at Bloomberg Stocks News

S.Africa government bonds weaken on US treasuries sell-off

(Reuters) - South African government bonds weakened sharply in early trade in Johannesburg, in line with a softer rand currency and a U.S treasuries sell-off overnight, traders said.

Yields on the most-active 2010 issue were last 12.5 basis points higher at 8.775 percent, after jumping 16 basis points earlier, while those on the benchmark paper due in 2015 added 13 basis points to 8.25 percent.


Read more at Reuters Africa

Astroc Mediterraneo, Ercros, Metrovacesa May Move: Spain Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Spain. Stock symbols are in parentheses after company names.
Prices are from the last close.

Spain's benchmark IBEX 35 Index dropped 1.4 percent to
14,725.90.


Read more at Bloomberg Stocks News

Gold Rises in Asia as Investors Speculate Losses Overdone; Silver Gains

(Bloomberg) -- Gold gained in Asia as investors bet
yesterday's fall, its largest fall in four weeks, was overdone.
Silver also rose.

Gold generally moves in the opposite direction of the U.S.
dollar which yesterday advanced the most in three weeks versus
the euro on speculation the Federal Reserve will hold borrowing
costs steady. Gold yesterday fell $11.60, or 1.7 percent, its
biggest one-day fall since May 10.


Read more at Bloomberg Commodities News

Bank of England May Have to Move Faster to Curb Worst Inflation in Decade

(Bloomberg) -- The Bank of England, which left
interest rates unchanged yesterday, may have to move faster to
curb the U.K.'s worst bout of inflation in a decade.

Manufacturers' optimism about their pricing power rose to a
12-year high in May, retailers are confident they can push
through their biggest price increases since 1998 and gains in
consumer prices have exceeded the bank's 2 percent target for the
past year. That's fanning concern that inflation is becoming
entrenched in the economy even after four rate increases in the
past year.


Read more at Bloomberg Bonds News

TREASURIES-Extend sell-off in Asia along with JGB slide

(Reuters) - A sell-off in Japanese government bonds also helped to keep
selling pressure on Treasuries, they added.




One dealer said that the market's next target level was the
2006 peak of 5.255 percent for the 10-year Treasury yield,
although he was sceptical of a further climb above that level.


Read more at Reuters.com Bonds News

Pakistan Government, Facing Elections, May Raise Salaries, Control Prices

(Bloomberg) -- Pakistan's government may increase
salaries and pensions and introduce measures to damp prices,
aiming to boost voter support ahead of elections.

Higher tax receipts generated by accelerating growth will
also be used to lift spending on power projects, roads and other
infrastructure and provide financial support for the nation's
textile industry, said Ashfaque Hasan Khan, the government's
chief economic adviser. The budget for the year starting July 1
will be presented in parliament in Islamabad tomorrow.


Read more at Bloomberg Emerging Markets News

BNP Paribas Cuts End-June Forecast for Yen as Global Interest Rates Rise

(Bloomberg) -- BNP Paribas SA, France's largest bank
by value, cut its forecast for the yen as rising global interest
rates make it more lucrative to borrow and sell Japan's currency
to purchase higher-yielding assets.

The yen will drop to 121 against the dollar and 167 versus
the euro by the end of June, the bank said, compared with its
earlier forecasts of 115 and 159, respectively. The bank still
forecasts the yen will strengthen by year-end.


Read more at Bloomberg Currencies News

CapitaLand, Keppel, Robinson, Cougar Holdings: Singapore's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in Singapore. Stock symbols are in parentheses and prices are
from the previous market close.

The Straits Times Index slid 0.5 percent to 3546.33. The
June futures contract fell 0.2 percent to 437.


Read more at Bloomberg Stocks News

Chavez says US oil company abandons Venezuela wells

(Reuters) - On Thursday, Chavez trumpeted the nationalization of the
sector.




"Due to this policy ... some companies even left. There is
one Yankee company that left and left the wells abandoned,"
Chavez said at a political event with university students,
without naming any company.


Read more at Reuters.com Bonds News

Crude Oil Trades Near 9-Month High on Refinery Shutdowns, Supply Concerns

(Bloomberg) -- Crude oil was little changed in New
York after rising to a nine-month high yesterday on speculation
risks to U.S. fuel production and global supply disruptions may
push prices higher.

Gasoline and oil prices leapt at the start of U.S. floor
trading yesterday after Marathon Oil Corp. and Delek U.S.
Holdings Inc. reported faults at refineries in Ohio and Texas.
Brent crude rose for a sixth session after a storm in the Arabian
Sea halted Omani oil exports for a third day. New York oil traded
above $67 a barrel for the first time since March.


Read more at Bloomberg Commodities News

Japanese Stocks May Fall, Led by Exporters on Concern Over Higher Rates

(Bloomberg) -- Japanese stocks may decline, paced by
exporters such as Canon Inc., on concern rising global interest
rates will curb consumer spending and corporate profits.

Canon made 75 percent of its sales outside Japan last year,
while overseas markets accounted for 80 percent of Honda Motor
Co.'s revenue.


Read more at Bloomberg Stocks News

Yen May Extend Gain Against Euro After Stock Decline Raises Risk Aversion

(Bloomberg) -- The yen may extend its advance against
the euro on speculation a sell-off in U.S. stocks will lead
investors to reduce risk.

The Japanese currency rallied against the euro and erased
losses versus the dollar as the worst three-day decline in U.S.
equities since February led investors to exit so-called carry
trades in which they buy higher-yielding assets financed by
loans in the yen. The stocks fell after benchmark Treasury yields
rose above 5 percent for the first time since August.


Read more at Bloomberg Currencies News

NYC business taxes top Los Angeles by 70 pct -study

(Reuters) - For the third year in a row, the city's budget surplus will
top $3.5 billion, and Mayor Michael Bloomberg should deepen his
current tax-cut plan to make the city more competitive, the
Citizens Budget Commission urged in its new report.




New York City businesses pay the state and city an average
tax rate of 7.5 percent. Houston ranks second on this list of
comparable cities with a much lower rate of 5.2 percent,
followed by Boston at 5.1 percent, the CBC said.


Read more at Reuters.com Bonds News

U.S. FY07 budget deficit seen $150 bln-$200 bln-CBO

(Reuters) - "CBO expects that the government will end 2007 with a
deficit of between $150 billion and $200 billion," the budget
office said. That is down from its March estimate of $214
billion.




On May 31, White House budget director Rob Portman told
reporters that the country's deficit is likely to be "closer to
$200 billion" than the $244 billion the administration forecast
in February.


Read more at Reuters.com Bonds News

U.S. bans some cell phones in Qualcomm patent case

(Reuters) - "The commission determined that barring importation of downstream products, with an exemption for certain previously imported models, will substantially reduce the burdens imposed on third parties while affording meaningful relief to the patent holder," the ITC said in its order.




Read more at Reuters.com Business News

Biomet accepts $11.4 billion takeover offer

(Reuters) - The group will begin a tender offer by June 14 to acquire all of Biomet's outstanding shares. At least 75 percent of the shares must favor the deal.




Biomet shares rose $1.37, or 3 percent, to $45.57 in morning trade on Nasdaq, close to the offer price, suggesting that investors think the deal has a good likelihood of shareholder acceptance.


Read more at Reuters.com Business News

UPDATE 1-U.S. immigration bill dealt blow in Senate

(Reuters) - WASHINGTON, June 7 - A sharply divided U.S.
Senate on Thursday threw into doubt the fate of the plan backed
by President George W. Bush to revamp U.S. immigration laws.




The Senate fell 27 votes short of the 60 needed to advance
the bill toward a final vote, dealing a serious blow to the
comprehensive effort to overhaul immigration law before Bush
leaves office in January 2009.


Read more at Reuters.com Bonds News

UPDATE 1-Automakers warm to new US fuel savings proposal

(Reuters) - Dave McCurdy, president of the chief U.S. trade group for
the biggest American and overseas auto companies, told an
Energy and Commerce Committee hearing that the proposed goals
were "extremely aggressive" and would be difficult to achieve,
but he did not dismiss them.




"The proposed increases in fuel economy requirements would
present major technology challenges for automakers, requiring
tremendous investments over a sustained period of time,"
McCurdy said.


Read more at Reuters.com Government Filings News

Stock Volatility Rises to Highest Level in Three Months as Shares Decline

(Bloomberg) -- A measure of expected stock market
swings rose the highest in almost three months as U.S. stocks
fell for a third day.

The Chicago Board Options Exchange SPX Volatility Index, or
VIX, rose 12 percent to 16.72, the biggest jump since April, as
of 2:58 p.m. in New York.


Read more at Bloomberg Stocks News

Canadian Western Bank profit up 33 pct, raises div

(Reuters) - The bank boosted its quarterly dividend to 9 Canadian cents
a share from 8 Canadian cents.







Read more at Reuters.com Market News

Cotton Rises on Speculation U.S. Crop Will Be Smaller Than USDA Forecast

(Bloomberg) -- Cotton rose in New York as dry
weather in the southern U.S. threatens newly planted fields and
farmers reduce plantings in favor of more profitable crops.

The U.S. Department of Agriculture, which last month
forecast a cotton crop of 18.8 million bales, may cut its
estimate to 18.5 million next week, said Ron Lawson, chief
executive officer of Sonoma, California-based Steadfast Futures
& Options Inc. The crop may be as small as 17 million bales by
the time the harvest starts in September, he said.


Read more at Bloomberg Commodities News

LionOre says investors should accept Norilsk bid

(Reuters) - LionOre, the world's 10th-largest nickel producer, said it
is terminating the support agreement it had signed with
Xstrata, and will pay the Swiss miner an agreed C$305 million
break fee.




"The LionOre board will unanimously recommend that
shareholders accept the offer from Norilsk Nickel and deposit
their shares into the offer," LionOre said in a statement.


Read more at Reuters.com Mergers News

NYC plan of traffic congestion fees meets 1st test

(Reuters) - The other cities whose traffic-fighting plans were chosen from the 27 proposals submitted were Atlanta, Dallas, Denver, Minneapolis-St. Paul, Miami, San Diego, San Francisco and Seattle, Peters said.




Bloomberg, a Republican, said that although charging fees for vehicles driving south of Manhattan's 86th Street between 6 a.m. and 6 p.m. would only push 5 percent of the commuters out of their cars, the effect would be "like having a quiet Friday in summer." Fees under the plan would be $8 for cars and $21 for trucks.


Read more at Reuters.com Bonds News

Wheat Rallies as Rains May Reduce Yields in Oklahoma More Than Expected

(Bloomberg) -- Wheat futures rose in Chicago and
Kansas City on reports of lower-than-expected yields in Oklahoma,
where fields have been inundated with heavy rains.

Parts of the state, the second-biggest producer of winter
wheat, have received four times the normal rainfall in the past
month, according to National Weather Service data. Fungal
diseases that can reduce yields, including leaf rust and powdery
mildew, thrive in warm, moist conditions.


Read more at Bloomberg Commodities News

U.S. retail sales warm up but don't sizzle

(Reuters) - By Martinne Geller



NEW YORK, June 7 - U.S. retail chains on Thursday reported moderate May sales increases as warmer weather fueled demand for seasonal items, like gardening and other outdoor goods, helping retailers rebound from a dismal April.


Read more at Reuters.com Market News

James River Coal files for $150 mln mixed shelf

(Reuters) - Under a shelf registration filed with the U.S. Securities
and Exchange Commission, a company may sell securities in one
or more separate offerings with the size, price and terms to be
determined at the time of sale. )




Read more at Reuters.com Bonds News

S.African stocks marginally higher after rate hike

(Reuters) - South African stocks closed marginally higher on Thursday after the reserve bank raised rates, with financial stocks recovering after a week where market uncertainty hurt banking stocks such as Standard Bank and Absa.

The JSE Top-40 index ended 0.07 percent higher at 25,649.54 points while the broader All-share index closed 0.05 percent stronger at 28,554.32 points.


Read more at Reuters Africa

S.Africa extends tax amnesty for small business

(Reuters) - South African small businesses were on Thursday granted a one-month extension to admit previous tax violations or to register for tax in an amnesty offered by the National Treasury.

Finance Minister Trevor Manuel said the one-month extension to June 30, 2007, was necessary after some organisations, including accountants and taxi owners, said they had missed the original cut-off.


Read more at Reuters Africa

UPDATE 1-U.S. mortgage bond prepayments increase in May

(Reuters) - NEW YORK, June 7 - Prepayments on U.S.
mortgage-backed securities increased in May as higher seasonal
factors and additional calendar days offset the impact of
higher interest rates, according to Wall Street analysts.




Prepayment speeds were below Wall Street expectations. The
May figures reflected the impact of a softening housing market
and tighter underwriting standards by lenders affected by the
implosion of the subprime mortgage market.


Read more at Reuters.com Bonds News

Dollar General May same-store sales climb

(Reuters) - Analysts, on average, had been expecting it to post a same-store sales increase of 3 percent, according to a Reuters survey.



Total sales for the four weeks ended June 2 climbed 6 percent to $733.1 million


Read more at Reuters.com Market News

U.S. to allocate coal tax credits on carbon capture

(Reuters) - The Department of Energy will allocate the credits based on
the rankings of the certified project applications received,
the Treasury said in a statement.




"The modified allocation method will substantially favor
projects that capture and sequester carbon dioxide emissions
and will favor to a lesser extent projects optimized for future
carbon dioxide capture," the Treasury said.


Read more at Reuters.com Government Filings News

NEWSMAKER-John Mayo, activist investor 6 years in the making

(Reuters) - But on July 6, 2001, Mayo resigned as telecom equipment
maker Marconi's chief executive-designate shortly before he was
due to take up the top job and two days after the company warned
operating profit would be just half the market's expectations.




Mayo built his reputation as an investment banker who
oversaw the demerger of drugs group Zeneca from another British
leviathan, ICI . He became Zeneca's finance director, a
role he later had at Marconi before being named CEO-designate.


Read more at Reuters.com Mergers News

Futures fall as Treasury yields top 5 pct

(Reuters) - The spring rally in stocks has sputtered in the past two days as worries about inflation and the possibility of higher interest rates haves crept back into the forefront of investors' concerns. Higher rates discourage consumer spending and crimp profit margins.




"The market needs a little bit of a correction, and with


Read more at Reuters.com Hot Stocks News

Macy's May same-store sales fall 3.3 percent

(Reuters) - Macy's, formerly known as Federated Department Stores, had forecast May same-store sales to be flat to down 2 percent. Analysts were expecting a fall of 1.5 percent, according to a Reuters poll.



Cincinnati, Ohio-based Macy's, which also operates Bloomingdale's, said total sales were $1.98 billion for the four weeks ended June 2, down 2.3 percent from the year-ago period.


Read more at Reuters.com Market News

UPDATE 1-PNC to buy New Jersey bank Yardville for $403 mln

(Reuters) - Pennsylvania's largest bank announced the purchase three
months after paying $6 billion for Baltimore's Mercantile
Bankshares Corp., becoming the 10th-largest U.S. bank.




Yardville shareholders will receive 0.2923 of a PNC share
and $14 in cash for each of their shares. The terms value the
company at $35 per share, a 2 percent discount to the stock's
Wednesday closing price of $35.77 on the Nasdaq.


Read more at Reuters.com Bonds News

MDS second-quarter results get big boost from gain

(Reuters) - Reuters could not immediately verify the report.



Shares of the company closed at $121.95 Monday on the New York Stock Exchange.


Read more at Reuters.com Market News

Detroit Airport, New Jersey Offerings Trust Lead U.S. Municipal Bond Sales

(Bloomberg) -- Detroit Metropolitan Wayne County
Airport and the New Jersey Environmental Infrastructure Trust
are borrowing a combined $337 million in today's largest
offerings of long-term U.S. municipal bonds.

The Wayne County Airport Authority will sell $178 million
of debt due 2011 through 2037 to fund runway and baggage-
screening improvements at the 10th-busiest U.S. airport by
passenger traffic. The New Jersey trust, which finances local
water and sewer project loans, will offer $159 million of bonds
set to mature through 2022 to refinance debt.


Read more at Bloomberg Bonds News

US STOCKS -Futures point up as retailers report sales

(Reuters) - But oil prices may keep investors on guard after a report North Korea fired missiles off its west coast and a cyclone weakened to a storm but headed toward Iran, a major oil producer.




"Right now the markets are looking unchanged to a little higher, but we'll have to keep a close eye on what happens in the oil pits," said Peter Cardillo, chief market economist at Avalon Partners in New York.


Read more at Reuters.com Bonds News

Costco May same-store sales rise 7 percent

(Reuters) - Costco, the largest U.S. warehouse club, said total sales in the four weeks ended June 3 rose 11 percent to $5.14 billion.




In May, U.S. sales were strongest in the Midwest, Northeast, Northwest and Texas. Internationally, the company had strongest sales in Korea and Taiwan, a spokesman said on a prerecorded call.


Read more at Reuters.com Business News

Rupee May Weaken a Second Day on Speculation Global Funds Will Sell Stocks

(Bloomberg) -- India's rupee may drop for a second
day on speculation capital inflows from abroad into stocks will
slow after the benchmark index added to its biggest decline in
more than a month yesterday.

Overseas fund managers may reduce holdings in Indian shares
after their investments helped the index rise for four of the
past five months. That may curb demand for the rupee, said
Sudarshan Bhatt, chief trader at state-owned Corporation Bank Ltd.
in Mumbai.


Read more at Bloomberg Currencies News

South Africa police disperse hospital strikers

(Reuters) - South African police used stun grenades and a water cannon to disperse striking hospital workers in the port city of Durban on Thursday as a crippling public sector strike entered its seventh day.

The pay strike has highlighted the ideological battle facing the ruling African National Congress as it prepares to elect a new leader in December, with unions saying President Thabo Mbeki's business friendly policies have left millions behind.


Read more at Reuters Africa

U.S. stock futures point to recovery on Wall St.

(Reuters) - June Dow Jones futures rose 0.36 percent, while S&P
June futures rose 0.42 percent and Nasdaq 100 futures
gained 0.31 percent.




On Wednesday quarterly data showing a rise in unit labour
costs triggered further selling on Wall Street as investor
concern grew over a pick-up in inflation and slowing growth,
reflected in a sharp rise in government bond yields.


Read more at Reuters.com Bonds News

Gilts Drop on Speculation Bank of England Will Lift Rates Again This Year

(Bloomberg) -- U.K. government bonds declined on
speculation Bank of England policy makers will increase interest
rates again this year to counter inflation in Europe's second-
biggest economy.

The central bank will keep the Bank Rate at 5.5 percent at
noon today after raising it to the highest since April 2001 last
month, according to all but four of 62 economists in a Bloomberg
News survey. The bank will lift the rate a quarter-point by its
August meeting, a separate survey shows.


Read more at Bloomberg Bonds News

Crude Oil Gives Up Gains as Weakening Cyclone Gonu Misses Omani Oil Fields

(Bloomberg) -- Crude oil traded below $66 a barrel in
New York as Tropical Cyclone Gonu missed oil rigs and fields in the
Middle East, causing only some disruption to shipping.

Gonu battered southern Iran early today after hitting the
eastern coast of Oman yesterday, closing all its seaports and oil-
export terminals two days ago and causing the country to suspended
oil and gas exports. Ships continued to pass through the Strait of
Hormuz, a waterway between Iran and Oman at the mouth of the
Persian Gulf, the Associated Press reported.


Read more at Bloomberg Energy News

Aeroflot will revive $2 bln deal with Boeing: paper

(Reuters) - In March, Aeroflot announced plans to buy 22 planes from rival producer Airbus despite the fact that the first A350 aircraft may be delivered much later than 2010 - a deadline that Boeing said it would be able to meet.




Kommersant cited industry sources as saying the deal with Boeing will be revived at Russia's landmark economic forum in St Petersburg on Saturday with Boeing and Aeroflot signing a deal for the delivery of planes.


Read more at Reuters.com Business News

UTi Worldwide net profit falls in first quarter

(Reuters) - NEW YORK, June 7 - Logistics company UTi Worldwide Inc. said on Thursday its quarterly net profit fell, reflecting higher staff and other costs, and the company affirmed its forecast for the full year.



The Rancho Dominguez, California-based company reported net income of $18.1 million or 18 cents a share for its fiscal 2008 first quarter ending April 30 compared with $19.3 million or 20 cents a share a year earlier.


Read more at Reuters.com Market News

European Stocks Rebound From Biggest Drop in Two Months; Vodafone Gains

(Bloomberg) -- European stocks rose, rebounding from
the biggest decline in more than two months, led by Vodafone
Group Plc after the phone company received a letter from an
activist investment group calling for a restructuring.

The Dow Jones Stoxx 600 Index gained 0.5 percent to 391.96
as of 8:06 a.m. in London. The Stoxx 50 added 0.6 percent, while
the Euro Stoxx 50, a measure for the 13 nations sharing the euro,
advanced 0.5 percent.


Read more at Bloomberg Stocks News

JGB futures tumble to 10-mth low on BOJ rate worry

(Reuters) - JGB gains in early trade were met with a wave of selling by
speculative accounts as well as dealers who rushed to dump long
positions as market players have been rattled by the possibility
of a BOJ rate rise as soon as August.




A rebound in the Nikkei share average into positive
territory after early losses also soured sentiment and gave
investors more reason to sell JGBs, driving two-year yields up
further to a decade-high 1.030 percent.


Read more at Reuters.com Bonds News