Linde buys majority in Algerian gases firm ENGI

(Reuters) - Germany's Linde, the largest industrial gases producer in the world, acquired a majority stake in Algeria's state-owned industrial and medical gases firm ENGI for an undisclosed price, Linde said on Monday.

ENGI, which has 10 production sites and employs about 700 people, generated sales of around 32 million euros in 2006.


Read more at Reuters Africa

Australia Cuts Wheat Crop Estimate By 10 Percent on Dry Weather in West

(Bloomberg) -- Australia, the world's third-largest
wheat shipper, cut its production forecast by 10 percent on
concern of dry weather in its main export wheat-growing area,
adding to a squeeze that's driven prices to an 11-year high.

The nation may produce 22.5 million metric tons this
harvest, the Australian Bureau of Agricultural and Resource
Economics said in a report released today in Canberra. That
compares with its previous forecast of 25 million tons and
output of 9.8 million tons last harvest.


Read more at Bloomberg Commodities News

ING says to buy Turkey's Oyak Bank for $2.67 bln

(Reuters) - "The transaction is expected to result in a decrease in the Tier 1 ratio of ING Bank NV of approximately 50 basis points," ING, one of the top five insurers in Europe, said in a statement.



It said the deal will result in a price/book multiple of 3.26 of shareholder's equity as at 31 March 2007, a price/earnings multiple of 26.6 times the 2006 normalised earnings and is expected to be accretive to ING's earnings per share as of 2008.


Read more at Reuters.com Mergers News

Goldman Sachs, Fidelity May Be Forced to Reduce Stakes in Indian Exchanges

(Bloomberg) -- Goldman Sachs Group Inc. and
Fidelity International Ltd. may be forced to pare their stakes
in India's biggest commodity exchanges should the government
push through a plan to cap investment.

The Reserve Bank of India may limit ownership in the
commodity bourses to 5 percent for a single investor, mirroring
rules set for stock exchanges, Yashwant Bhave, secretary at the
department of Consumer Affairs, said in a June 14 interview.


Read more at Bloomberg Emerging Markets News

Sirius, XM Satellite Shares Show Greater Risk of Rally Than Further Slide

(Bloomberg) -- Since Sirius Satellite Radio Inc.
Chief Executive Officer Mel Karmazin agreed to buy his only
rival, investors have sold both stocks in a bet regulators will
block the deal. Now some analysts say the shares are undervalued.

Sirius, based in New York, and larger XM Satellite Radio
Holdings Inc. have seen their shares fall since the union of the
only two pay-radio companies was announced Feb. 19.


Read more at Bloomberg Stocks News

Netia, Orco Property, Telekomunikacja: Central European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in central European markets. Symbols are in parentheses and
prices are from the last close.

The NTX Index of 30 companies in the region fell 0.4 percent
to 2003.01.


Read more at Bloomberg Stocks News

Singapore's Stock Index Little Changed; CapitaLand Falls, SembCorp Rises

(Bloomberg) -- Singapore's key stock index is little
changed. Property stocks fell, led by CapitaLand Ltd., the city-
state's largest developer, on concern recent gains were excessive.

SembCorp Marine Ltd., the world's second-largest rig-builder,
led oil-and-gas equipment suppliers higher as crude oil traded
near a nine-month high.


Read more at Bloomberg Stocks News

ICICI Bank Increases Indian Rupee Forecast as Central Bank May Allow Gains

(Bloomberg) -- ICICI Bank Ltd., India's biggest
lender by market value, raised its forecast for the Indian rupee
because the central bank has accepted that a flood of investment
will strengthen the currency.

Trade Minister Kamal Nath aims to double foreign direct
investment into India to $30 billion this year. More funds may
flow in as ICICI Bank prepares to raise as much as 175 billion
rupees ($4.3 billion) at home and overseas in the nation's
biggest share sale.


Read more at Bloomberg Emerging Markets News

South Korean Construction, Shipbuilding Stocks Advance; Exporters Decline

(Bloomberg) -- Shares of South Korean builders
gained, led by Hyundai Engineering & Construction Co., after
Daewoo Securities Co. said the industry was entering a period of
``long-term growth.''

``The major builders are getting more of their sales from
abroad,'' said Chung Yun Sik, who oversees about $6 billion in
equities at Daehan Investment Trust Management Co. in Seoul. Also,
``domestic property-market policy will probably change for the
better, turning toward a more market-friendly stance.''


Read more at Bloomberg Stocks News

South Korea's Kospi Is Little Changed; Hyundai Heavy Gains on Ship Prices

(Bloomberg) -- South Korea's Kospi index swung
between gains and losses. Hyundai Heavy Industries Co. advanced
after Korea Investment & Securities Co. lifted its price estimate,
saying ship prices will rise further.

Hyundai Motor Co. dropped after confidence among U.S.
homebuilders fell to the lowest in more than 16 years, triggering
concern a housing-market slump will damp consumer spending in the
world's biggest economy.


Read more at Bloomberg Stocks News

Australian Stocks Slide, Led by BHP Billiton, Rio Tinto, on Lower Metals

(Bloomberg) -- Australia's benchmark stock index,
the S&P/ASX 200 Index, fell 0.11 percent at 10:05 a.m.

The index of 202 companies traded on the Australian Stock
Exchange fell 7.10 to 6,336.30. Among the stocks in the index, 38
rose, 65 fell and 99 were unchanged.


Read more at Bloomberg Stocks News

Exporters, Hanjin Heavy, LG Electronics: South Korea Stock Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index advanced 2 percent to a record 1806.88. The
Kosdaq gained 2.2 percent to 818.11. Kospi 200 futures expiring in
September added 2.1 percent to 230.55, while the underlying index
climbed 1.9 percent to 228.80.


Read more at Bloomberg Stocks News

BHP Billiton, Westfield, Woodside Petroleum: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed yesterday. Prices are from
yesterday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in June fell 0.4
percent to 6325 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index added 0.8 percent in New York.


Read more at Bloomberg Stocks News

RBS touted as Sempra mulls commodities unit options

(Reuters) - Sempra Energy spokesman Doug Kline declined to comment on
the RBS speculation. "We are looking at three options for
growing our commodities business -- staying on the current
course, taking on a financial partner, or establishing a
stand-alone credit rating for that business," he said.




"We have talked to a number of different parties in the
marketplace about these options."


Read more at Reuters.com Bonds News

Sen. Kennedy offers student loan reforms

(Reuters) - Massachusetts Democrat Edward Kennedy's proposals attack kickback schemes and conflicts of interest that have been under investigation for months in a scandal shaking the $85-billion student loan business.




Investigations are focused chiefly on payments and gifts to college officials by lenders in exchange for being placed on "preferred lender" lists that colleges show to students who want to borrow money for school.


Read more at Reuters.com Government Filings News

BHP eyeing Alcan, sources say

(Reuters) - The emergence of BHP as a possible white knight in the face of Alcoa Inc.'s $28.7 billion hostile offer for Alcan came as Alcoa's stock hit a six-year high on a report that the U.S. aluminum company, and not its Canadian rival Alcan, was a target of BHP. Alcoa stock eased to close less than 1 percent higher.




The sources told Reuters that BHP, which trades in Australia and London, has hired Merrill Lynch & Co. to explore the possibility of buying Alcan, but stressed that such a move is not definite.


Read more at Reuters.com Business News

Encysive, Harvest Natural, ScanSource, Wendy's: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes on U.S. exchanges. Stock
symbols are in parentheses after company names. Share prices are
as of 4 p.m. New York time.

Shares of some homebuilders slumped after confidence among
U.S. homebuilders fell this month to the lowest since February
1991 as interest rates climbed and delinquencies surged.


Read more at Bloomberg Stocks News

US STOCKS-Indexes end down as oil moves above $69/bbl

(Reuters) - The Dow Jones industrial average fell 24.87 points,
or 0.18 percent, to end unofficially at 13,614.61. The Standard
& Poor's 500 Index was down 1.73 points, or 0.11
percent, at 1,531.18. The Nasdaq Composite Index was
down 0.20 points, or 0.01 percent, at 2,626.51.




Read more at Reuters.com Bonds News

UPDATE 1-Floods kill 2 in north Texas

(Reuters) - GAINESVILLE, Texas, June 18 - Residents emerged
from their homes in a flood-stricken north Texas town on Monday
as waters that killed a 4-year-old girl and at least one other
person began to recede throughout the soaked region.




Local media reported that the girl was killed after she was
pulled by raging waters from her mother's arms in a mobile home
park in a Fort Worth suburb. Elsewhere a woman died after her
car stalled on a north Texas road and got swept away.


Read more at Reuters.com Bonds News

UPDATE 1-Tenke shareholders give green light to Lundin deal

(Reuters) - Tenke's shareholder voted 96 percent in favor of the deal
at a special meeting in Vancouver, it said.




As part of the deal, which is expected to close on July 3,
Tenke's South American assets and $5 million will be spun off
into a separate entity called Suramina Resources Inc.


Read more at Reuters.com Mergers News

Oil Approaches $70 for First Time in Nine Months on Nigeria Strike Plans

(Bloomberg) -- Crude oil in New York approached $70
a barrel for first time since September after Nigerian unions
planned a strike this week, threatening supplies from Africa's
biggest oil producer.

Oil production is likely to be affected during the strike as
Nigeria's two main oil unions plan to participate, a labor leader
said. Nigeria produces low-sulfur, or sweet, crude oil, prized by
U.S. refiners because of the high proportion of gasoline it
yields. New York oil reached a record $78.40 a barrel on July 14
on concern that Middle East unrest would cut oil shipments.


Read more at Bloomberg Commodities News

UPDATE 1-Mexican lawmakers expect tax proposal this week

(Reuters) - MEXICO CITY, June 18 - Mexican President Felipe
Calderon will likely unveil a long-awaited proposal to overhaul
tax laws this week, lawmakers from his conservative party said
on Monday.




Investors are keen to see how Calderon will increase
Mexico's paltry tax take and cut dependence on faltering oil
revenue.


Read more at Reuters.com Bonds News

TREASURIES-Prices up on weaker-than-expected US housing index

(Reuters) - The benchmark U.S. Treasury 10-year note rose
3/32 in price for a yield of 5.15 percent, compared with 5.17
percent late on Friday. Last week, 10-year yields reached a
five-year high of 5.33 percent. Bond prices and yields move
inversely.




Read more at Reuters.com Bonds News

Less show, more grind for Mexico's quiet president

(Reuters) - Happier shut in his office banging away at his laptop than
out waving at crowds, the quiet, diminutive lawyer is cut from
completely different cloth than brawny ex-president Vicente
Fox, with his chatty radio shows and showy cowboy boots.




Conservative Calderon, of the same party as Fox, won last
year's election by a razor-thin margin but surprised many by
acting where Fox often failed to. Calderon won a pension reform
in March and deployed the army against drug gangs.


Read more at Reuters.com Bonds News

Wisconsin Power and Light files $300 mln shelf offering

(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 Government Filings News

New Zealand Dollar May Extend Gain to Two-Decade High, RBC Capital Says

(Bloomberg) -- The New Zealand dollar may reach a
two-decade high against the yen in the next three months as
higher interest rates attract investors, according to RBC
Capital Markets Inc.

The appeal of New Zealand's benchmark overnight rate, which
is 7.5 percentage points higher than Japan's, may make it hard
for the Reserve Bank of New Zealand to stem further gains, said
Adam Cole, senior currency strategist at RBC in London. New
Zealand's central bank sold the local currency yesterday,
according to Cole. The central bank also intervened in the
currency market on June 11.


Read more at Bloomberg Currencies News

Oil hits 10-month high above $72 a barrel

(Reuters) - Oil surged above $72 a barrel on Monday to a 10-month high as a general strike loomed in Nigeria and attacks on oil installations cut more supply from the world's eighth largest exporter.

Low U.S. gasoline inventories at a time of peak summer demand, a possible oil workers' strike in Brazil next month and OPEC's reluctance to boost oil output are also helping to boost the market, analysts said.


Read more at Reuters Africa

Remgro says FY headline EPS up 37.4 pct

(Reuters) - South African investment holding group Remgro Ltd posted a 37.4 percent rise in full-year headline earnings per share on Monday, in line with the firm's forecast.

Remgro said headline EPS rose to 1,445.4 cents during the 12 months to end-March.


Read more at Reuters Africa

Wendy's to consider sale; cuts 2007 EPS view

(Reuters) - PHILADELPHIA, June 18 - Hamburger chain Wendy's International Inc. said on Monday it would explore the possible sale of the company instead of other restructuring options.



Wendy's, which also lowered its 2007 earnings forecast, had said in April it would weigh options to boost strategic value, including a possible sale. The latest announcement shows that the fast-food chain sees a sale as more likely.


Read more at Reuters.com Mergers News

Coffee Climbs to One-Week High on Shrinking Inventories in U.S., Vietnam

(Bloomberg) -- Coffee rose to a one-week high in
New York as shrinking inventories in the U.S. and Vietnam, the
world's second-largest producer, revived speculation that demand
will exceed output this year.

Stockpiles of raw, unroasted coffee in the U.S. fell by
92,242 bags, or 1.6 percent, to 5.68 million bags in May from
April, the first decline this year, the New York-based Green
Coffee Association said June 15. Tight supplies of robusta
coffee from Vietnam, the biggest producer of that variety, have
pushed futures traded in London to the highest since 1998.


Read more at Bloomberg Commodities News

Fannie Mae to sell $3 bln bills on Wednesday

(Reuters) - Bids will be accepted from authorized dealers from 9:00
a.m. , until 9:45 a.m. .




Settlement is June 20-21.


Read more at Reuters.com Bonds News

Actelion, Alcoa, Genesco, Encysive, Labopharm, Lexicon: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges
tomorrow. Stock symbols are in parentheses after company names.
Shares prices are as of 9:30 a.m. New York time.

Actelion Ltd. (ALIOF US) shares rose $3.74, or 8.8 percent,
to $46.45. A newly approved rival to its best-selling Tracleer
lung treatment may not be as big a threat as previously thought,
some analysts said. Gilead Sciences Inc. (GILD US) on June 15 won
U.S. approval for ambrisentan, which will compete with Tracleer
as a treatment for pulmonary arterial hypertension, a narrowing
of the arteries that causes shortness of breath and heart
failure. Gilead gained 5 cents to $80.88.


Read more at Bloomberg Stocks News

Gold, Silver Rise in New York as Dollar Decline Boosts Investment Demand

(Bloomberg) -- Gold and silver rose in New York as a
decline in the value of the dollar against the euro increased the
appeal of the precious metals as alternative investments.

Gold generally moves in the opposite direction of the U.S.
currency, which fell for a fourth straight session against the
euro. Before today, gold had gained 3.2 percent this year while
the dollar had lost 1.4 percent against the euro.


Read more at Bloomberg Commodities News

First Consulting acquires software company Zorch

(Reuters) - The deal is expected to be neutral to earnings in the
second half of 2007 and add thereafter, First Consulting Group
added.





Read more at Reuters.com Mergers News

Fired London Traders Try to Use U.K. Whistle-Blower Law to Win Big Payout

(Bloomberg) -- Cantor Fitzgerald LP says it refused
to pay the former head of a U.K. trading unit millions of dollars
in incentives because he'd quit. Lewis Findlay says he was pushed
out for complaining about business practices and is using a
whistle-blower law to seek $30 million.

The lawsuit is one of at least 10 in London courts involving
executives earning six-figure salaries who are suing under
legislation designed to protect employees who raise workplace
concerns about illegal or dangerous behavior.


Read more at Bloomberg Exclusive News

Growth of global mergers poses risks - IMF'S Rato

(Reuters) - First, banks underwriting the deals would be exposed, and
secondly, a reappraisal of market risk stemming from failed
mergers could curtail access to credit for lower-rated
companies, affecting investment and economic growth.




"So, in looking at these deals, investors need to exercise
due diligence, and regulators must be vigilant about possible
broader effects of these mergers on economies," Rato said.


Read more at Reuters.com Bonds News

TREASURIES-Prices rise on tame inflation outlook

(Reuters) - The day's main economic report is a sentiment gauge from the
National Association of Home Builders, which is seen as a proxy of
future U.S. housing activities.




A sluggish NAHB reading, which matched a 15-year low in May,
could encourage buying among traders which have been rattled by
the growing view of rising global rates and the Federal Reserve
not lowering interest rates this year, analysts said.


Read more at Reuters.com Bonds News

Ex-Brocade Chief's Trial, Test for Options Fraud, May Spark Indictments

(Bloomberg) -- Prosecutors' pursuit of executives
for backdating stock options gets its first courtroom test today
as the former chief executive officer of Brocade Communications
Inc. goes on trial in federal court in San Francisco.

Gregory Reyes, 44, was charged in July with securities fraud
and conspiracy for misleading investors by backdating stock
option grants, altering company documents and causing Brocade, a
network equipment maker, to report false financial results.


Read more at Bloomberg Exclusive News

Porter Bancorp to buy Ohio County Bancshares

(Reuters) - The deal, likely to close in the late third or early fourth
quarter, is expected to add to earnings in the first year,
Porter added.





Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Gain on Acquisitions; Alcoa, Gilead Shares Rise

(Bloomberg) -- U.S. stock-index futures rose after a
report that BHP Billiton Ltd., the world's largest mining
company, may bid for Alcoa Inc., the No. 1 aluminum maker.

Shares of Alcoa jumped in Europe after the London-based
Times said BHP may consider a $40 billion takeover. Chicago Board
of Trade gained after shareholders of the second-largest futures
market were told they may get better offers from two suitors.


Read more at Bloomberg Stocks News

Brazilian Real, Chilean, Colombian Peso: Latin American Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American currencies
today. Exchange rates are from the previous week.

Brazilian real: Retail sales probably rose 9.5 percent in
April from a year earlier, after rising 11.5 percent in the 12
months through March, according to the median forecast in a
Bloomberg survey of nine economists.


Read more at Bloomberg Currencies News

Highveld Steel sees H1 headline EPS up 55-65 pct

(Reuters) - South Africa's Highveld Steel and Vanadium Corporation said on Monday it expected its half-year headline and basic earnings per share to jump by up to 65 percent.

Shares in Highveld, which is majority owned by Russia's Evraz Group, soared as much as 3.4 percent after it released the trading statement saying its headline EPS to end-June would rise by 55-65 percent.


Read more at Reuters Africa

UPDATE 1-Cadbury bids for small Japanese candy maker

(Reuters) - Cadbury said it would pay 2,750 yen for each Sansei Foods
share in a tender from from Tuesday to July 19. The offer price
is a 66 percent premium to Sansei's closing price of 1,651 yen on
Monday.




Sansei Foods said it and its top shareholders have agreed to
the deal.


Read more at Reuters.com Mergers News

European Stocks Rise on Bid Speculation; ICI, Sainsbury Pace the Advance

(Bloomberg) -- European stocks gained after Akzo Nobel
NV made an offer for Imperial Chemical Industries Plc and a report
signaled a group may bid for Sainsbury Plc, fueling speculation of
more takeovers in the chemical and retail industries.

ICI surged 16 percent, sending the Dow Jones Stoxx 600
Chemicals Index to a record. Sainsbury, the U.K.'s third-biggest
supermarket chain, and Tesco Plc, Britain's largest supermarket
company, paced an advance by retailers.


Read more at Bloomberg Stocks News

Anglo Platinum Shuts Down Biggest Mine for Week After 12 Workers Killed

(Bloomberg) -- Anglo Platinum Ltd., the world's
largest platinum producer, will halt production from its biggest
mine for as long as seven days to improve safety after 12 miners
were killed in 2007.

Five workers were killed at its Rustenburg mine in the past
two weeks, the Johannesburg-based company said today in a
statement. Production will drop by between 10,000 and 15,000
ounces this year as a result of the closure, it added.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Akzo Nobel says ICI rejected takeover approach

(Reuters) - "Akzo Nobel will continue to evaluate all strategic
opportunities, including ICI, based on a disciplined and
value-driven approach to earnings and returns over cost of
capital," it said in a statement.




It said there was no certainty it would make a further
proposal to ICI or that any offer would result.


Read more at Reuters.com Mergers News