Shanghai copper up 2.4 pct, LME in sight of $8,000

(Reuters) - Shanghai copper rallied more than 2 percent on Tuesday following a 2 percent surge in London futures to a seven-week high as the dollar fell and threats to supply focused attention on limited metal stocks.

The most-active September copper contract on the Shanghai Futures Exchange rose 2.4 percent or 1,540 yuan to 65,810 yuan a tonne at 0212 GMT.


Read more at Reuters Africa

U.K. Pound May Hold Near 26-Year High on Bets BOE Interest Rates Will Rise

(Bloomberg) -- The U.K. pound may hold near its
highest in more than a quarter of a century against the dollar as
investors bet the Bank of England will raise interest rates this
week to curb inflation.

The currency rose above $2 last week and yesterday reached
$2.0185, its highest since June 1981. The BOE's Monetary Policy
Committee members will decide on borrowing costs July 5, and
economists surveyed by Bloomberg News expect them to lift the
benchmark rate by a quarter-point to 5.75 percent.


Read more at Bloomberg Currencies News

Cerberus to sell Imperial Hotel stake: Nikkei

(Reuters) - The prestigious hotel in central Tokyo is 40 percent owned
by Kokusai Kogyo Co. , an aerial surveying contractor
that Cerberus bought and is restructuring.




Imperial Hotel's shares were up by their daily limit of 500
yen, or 11.4 percent, at 4,880 yen in afternoon dealings.


Read more at Reuters.com Mergers News

Rubber Falls in Tokyo on Concern Demand May Lag Behind Supply This Half

(Bloomberg) -- Rubber futures in Tokyo, the global
benchmark, fell for a sixth day on concern that demand from end-
users may be less than expected in the second half after
disappointing purchases so far this year.

Rubber consumers, mainly tire manufacturers, covered much of
their first-half requirements when prices were falling late last
year, said Tetsu Emori, chief strategist at Astmax Futures in
Tokyo. Rubber futures, which reached a 27-year high in June last
year, fell 19 percent in the second half.


Read more at Bloomberg Commodities News

Private-Equity Firms Fight Back in Congress as Champions of Common Folk

(Bloomberg) -- The managers of hedge funds and
private-equity firms, whose huge profits and lavish lifestyles
have made them a target of Congress, are fighting back by
portraying themselves as the champions of the little guy.

The Private Equity Council, a Washington-based trade
association founded by Blackstone Group LP, the Carlyle Group
and Apollo Management LP, has retained an army of lobbyists to
derail legislation that would raise their taxes.


Read more at Bloomberg Bonds News

Air Liquide, Alstom, Bourbon, EADS, France Telecom: French Equity Preview

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

The CAC 40 slipped 27.98 points, or 0.5 percent, to close
at 6026.95. The broader SBF 120 Index fell 20.38, or 0.5
percent, to close at 4392.38.


Read more at Bloomberg Stocks News

China Shenhua May Raise $6.3 Billion in Biggest Share Sale by Coal Company

(Bloomberg) -- China Shenhua Energy Co. is planning
the world's biggest share sale by a coalminer to raise as much as
$6.3 billion for expansion as demand for the fuel surges.

The nation's largest coal producer plans to sell as many as
1.8 billion yuan-denominated shares in Shanghai, Shenhua said in
a statement to Hong Kong's stock exchange yesterday. The Beijing-
based company will use the money to expand coal, power and
transport operations and for domestic and overseas acquisitions.


Read more at Bloomberg Energy News

Stocks race up, dollar weakens on rate outlook

(Reuters) - Japanese government bonds tracked a rise in U.S. Treasuries, although gains were limited as investors waited on an auction of 10-year notes and eyed a likely Bank of Japan interest rate hike as early as August.




Tokyo's Nikkei average rose 0.3 percent by the midsession, although traders said volumes were low. MSCI's broadest index of shares elsewhere in Asia hit an all-time high earlier and by 0214 GMT was up 1 percent.


Read more at Reuters.com Hot Stocks News

Japanese Government Bonds Advance Before Results of 10-Year Debt Auction

(Bloomberg) -- Japan's government bonds gained
before results of a 10-year debt auction today.

The Ministry of Finance set a 1.9 percent coupon on 1.9
trillion yen ($15.5 billion) of the new securities, matching the
median forecast of a Bloomberg News survey.


Read more at Bloomberg Bonds News

Australian Dollar Strengthens to 18-Year High on Wider Bond Yield Spread

(Bloomberg) -- The Australian dollar gained to an 18-
year high as the yield spread between the nation's two-year bonds
and Treasuries stayed near the widest in two months.

The currency climbed for a fourth day before a government
report that's expected by economists to show retail sales
accelerated in May, which may add to speculation the Reserve Bank
of Australia will raise interest rates this year. Investors sold
the U.S. dollar on concern rising mortgage defaults will weaken
the housing market and spill into the broader economy.


Read more at Bloomberg Currencies News

Japan's Nikkei 225 Stock Average, Topix Rise; Toyota, Komatsu Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 52.70, or 0.3 percent, to 18,199.00 at 9:02 a.m. in Tokyo.
The broader Topix index added 3.87, or 0.2 percent, to
1784.23.

Toyota Motor Corp. and Komatsu Ltd. led the advances.


Read more at Bloomberg Stocks News

Crude Oil Trades Near 10-Month High on Concern Over U.S. Gasoline Supplies

(Bloomberg) -- Crude oil was little changed in New
York after rising to a 10-month high yesterday on speculation U.S.
refiners may strain to restore summer gasoline supplies.

A July 5 Energy Department report will probably show U.S.
oil stockpiles were unchanged last week after a month of gains,
as refiners increased operating rates to make more gasoline,
according to a Bloomberg News survey of nine analysts. Refinery
rates may reach 90 percent for the first time in five weeks.


Read more at Bloomberg Energy News

Ford offers premium to holders of convertible debt

(Reuters) - "Assuming 100 percent of the outstanding Trust Preferred
Securities are validly tendered and accepted for conversion,
the debt conversion pretax expense is estimated to be $1.47
billion," Ford said in the filing.




The estimate is based on the June 29, 2007, market price of
Ford common stock of $9.42, according to the automaker.


Read more at Reuters.com Bonds News

Emerging debt-Prices jump on lower Treasuries yields

(Reuters) - Emerging markets stocks and currencies also posted strong
gains, with the Brazilian benchmark Bovespa stock index
closing above 55,000 points for the first time.




"International liquidity remains high and prices have been
rising again as soon as the market calms down," said Marcio
Jeronimo, emerging markets analyst with Lopez Leon brokerage in
Sao Paulo, referring to the decline in U.S. Treasuries yields.


Read more at Reuters.com Bonds News

UPDATE 1-Movie Gallery in talks with lenders, fails covenants

(Reuters) - Movie Gallery, which has seen same-store rental revenue
plunge for the past year as online DVD rental erodes its market
share, said it is in talks with its lenders on a possible
waiver, amendment, forbearance or similar agreement.




The company said it will accelerate store closures and
consolidations and may put itself up for sale. It has fully
drawn the remaining availability of its credit revolver and has
about $50 million of cash on hand.


Read more at Reuters.com Bonds News

Treasury 10-Year Note Yield Drops Below 5 Percent on Concern Over Housing

(Bloomberg) -- Treasuries rose, pushing the 10-year
note yield below 5 percent for the first time in more than three
weeks, on speculation over weakness in the subprime mortgage
market and concern over potential terror threats.

U.S. government debt last month outperformed mortgage-
backed bonds guaranteed by government-sponsored lenders by the
most since July 2003, according to a Lehman Brothers Holdings
Inc. index. A National Association of Realtors report tomorrow
is forecast by economists to show pending sales of existing
homes edged up in May from the lowest since February 2003.


Read more at Bloomberg Bonds News

U.S. Energy Corp to buy back up to $5 mln of shares

(Reuters) - Under the agreement, the company expects to participate as
a 20 percent interest partner in numerous wells that will be
drilled over the next three to five years.





Read more at Reuters.com Mergers News

Barr Pharmaceuticals says to market generic of Lamisil

(Reuters) - Gedeon Richter received final U.S. Food and Drug Administration approval to manufacture and market a generic version of Lamisil, Barr said in a statement.



Barr plans to launch the product immediately.


Read more at Reuters.com Government Filings News

Parmalat to appeal class action lawsuit ruling

(Reuters) - Parmalat said in a statement that the Manhattan district court's construction "is not consistent ... with the opinions of ... Italian courts".



U.S. District Judge Lewis Kaplan said in a June 28 ruling that the reorganized Parmalat "expressly agreed" when it emerged from Europe's largest bankruptcy in 2005 to assume the old Parmalat's liabilities for fraud that the investors alleged.


Read more at Reuters.com Bonds News

AMB, Centennial, ECI, New York Times, Schwab, Vornado: 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 1:10 p.m. New York time.

Real estate investment trusts advanced after UBS AG said the
stocks may jump 21 percent as a group in the next 12 months and
Merrill Lynch & Co. upgraded Vornado Realty Trust (VNO US).


Read more at Bloomberg Stocks News

US online help-wanted ads down in June, report says

(Reuters) - "Online job demand has been virtually unchanged over the last few months but continues to show a better than 20 percent gain over last year," said Gad Levanon, economist at the Conference Board.




"Tight labor markets in many areas of the country and in specific occupations and industries like IT and healthcare are forcing companies to advertise more aggressively than last year in order to find the employees they need. We do not expect economic growth to accelerate until the end of the year, but finding the right employee is already a challenge in many areas of the country," he added.


Read more at Reuters.com Economic News

GLOBAL ECONOMY-U.S. factories hum in June; Germany paces Europe

(Reuters) - WASHINGTON/PARIS, July 2 - The U.S.
manufacturing sector picked up more than expected in June,
overcoming a housing market slump, while strength in Germany
drove European factory growth, according to data released on
Monday.




Surveys of purchasing managers at thousands of companies
around the globe showed broad-based expansion -- with notable
accelerations in the United States, Germany and Spain but
eye-catching slowdowns in growth rates in Britain and Japan.


Read more at Reuters.com Economic News

Brazil Bovespa Rises to Record, Led by Vale, on U.S. and Asian Expansions

(Bloomberg) -- Brazil's main stock index rose to a
record, led by mining company Cia. Vale do Rio Doce, on speculation
growth in the U.S. and Asia will boost demand for the country's
commodity exports.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 539.54, or 1 percent, 54,931.60 as of 11:30 a.m. New
York time, eclipsing its June 18 high.


Read more at Bloomberg Stocks News

Mauritius bourse gains 19 pct in H1, led by hotels

(Reuters) - Mauritius's main all-share stock index rose 19.0 percent in the first half of 2007, stock market data showed on Monday, driven by two hotel companies in the island's fast-growing tourism business.

The SEM-7 index, which tracks the largest seven companies by market capitalisation, jumped 28.3 percent over the same period, the data showed.


Read more at Reuters Africa

Hog Prices Decline as Report Spurs Concerns About Oversupply; Cattle Fall

(Bloomberg) -- Hog futures in Chicago fell to the
lowest in almost four months on concern there may be an
oversupply of pigs after a government report showed a larger
U.S. breeding herd. Cattle prices were little changed.

U.S. hog producers expanded their herds by 0.9 percent in
the three months ended May 31, the Department of Agriculture
reported last week, as corn costs steadied and profit improved.
The nation's 65,000 hog producers were holding back an
estimated 6.116 million females for breeding on June 1, up from
6.06 million a year earlier, the USDA said.


Read more at Bloomberg Commodities News

TREASURIES-After dip on ISM, safety bid lifts bonds

(Reuters) - NEW YORK, July 2 - U.S. Treasury debt prices
briefly slipped on Monday, reacting to a somewhat stronger than
expected reading on the U.S. manufacturing sector, then quickly
erased those minor losses as a safety bid provided support.




The Institute for Supply Management said its manufacturing
index rose to 56.0 in June from 55.0 in May, slightly firmer
than Wall Street had forecast.


Read more at Reuters.com Bonds News

Israel's ECI Telecom to be bought by investor group for $1.2 bln

(Reuters) - Swarth is an investment vehicle controlled by telecom
businessman Shaul Shani.





Read more at Reuters.com Mergers News

Jim Rogers Says He's Sold `Over-Exploited' Emerging Markets, Except China

(Bloomberg) -- Jim Rogers, who predicted the start
of the global commodities rally in 1999, said he's sold out of
all emerging markets with the exception of China because they're
``over-exploited.''

``I'm hoping when the next big correction comes I'm smart
enough to buy some of them back,'' Rogers, chairman of New York-
based Beeland Interests Inc., said in an interview in Singapore
today. ``They're all over-exploited, so I've sold out.''


Read more at Bloomberg Exclusive News

Gold, Silver Prices Climb in New York After Dollar Weakens Against Euro

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

Gold generally moves in the opposite direction of the
dollar, which today dropped to a six-week low against the euro
on speculation the European Central Bank may raise interest
rates faster than the U.S. Federal Reserve. Before today, gold
had gained 2 percent this year and the euro was up 2.6 percent.


Read more at Bloomberg Commodities News

Freddie Mac opts not to issue REMICs in July

(Reuters) - Freddie Mac last issued reference REMICs in June, selling
$1.265 billion R013 with a final maturity of Dec. 15, 2021.




Read more at Reuters.com Bonds News

Virgin Media shares jump over 15 pct on bid hopes

(Reuters) - At 1332 GMT, Virgin Media shares were up 15.7 percent at $28.20.




Read more at Reuters.com Hot Stocks News

UPDATE 1-GE Money to offer Gap customers a Visa credit card

(Reuters) - CHICAGO, July 2 - General Electric Co.'s GE Money consumer lending unit said on Monday that it would start to offer a Visa credit card to Gap Inc. customers, broadening its reach in the apparel chain's stores.



The new Visa cards will be offered to customers of Gap's namesake chain, Banana Republic and Old Navy. GE will also continue to provide private-label credit card programs for Gap Inc. through 2013. It has provided credit programs to Gap since 1998.


Read more at Reuters.com Bonds News

Carlyle to buy Manor Care for $4.9 billion

(Reuters) - Manor Care shareholders would receive $67 per share, a 20 percent premium to its closing stock price on April 10, the day before the company announced it was putting itself up for sale. The total value of the deal, including debt, is $6.3 billion, the company said.




Read more at Reuters.com Business News

Thomson to sell Prometric to ETS for $435 mln

(Reuters) - The purchase price includes $310 million in cash and $125 million through a promissory note due in 2014.



The transaction is expected to close in the third quarter, the company said.


Read more at Reuters.com Mergers News

Citigroup buys Automated Trading Desk for $680 mln

(Reuters) - The transaction is the latest in a series of smaller deals
for Citigroup since it was freed 15 months ago from a Federal
Reserve order that kept it from making acquisitions.




Citigroup said Automated Trading Desk will keep its Mount
Pleasant, South Carolina, headquarters and operate as a unit of
its global equities business. The transaction is expected to
close in the third quarter, pending regulatory approval.


Read more at Reuters.com Bonds News

Angola rescinds British Airways permit - BA spokesman

(Reuters) - Angola's civil aviation authority has rescinded British Airways' permit to fly into the southwestern African nation, a spokesman for the airline said on Monday.

"We were informed on Friday by the Angolan CAA that it had rescinded BA's seasonal operating permit with immediate effect," BA spokesman Richard Goodfellow said. BA operates one return flight a week between London and Luanda.


Read more at Reuters Africa

Dominion Resources to Sell Oil, Gas Operations to Linn for $2.05 Billion

(Bloomberg) -- Dominion Resources Inc., the second-
largest U.S. utility owner, agreed to sell oil and natural-gas
production operations to Linn Energy LLC for $2.05 billion, the
company said today in a statement distributed by PRNewswire.

Dominion is selling most of its oil and gas properties to
cut debt and buy back almost 16 percent of its stock. Linn said
private equity has committed $1.5 billion to the purchase.


Read more at Bloomberg Energy News

Consolidated Communications to acquire North Pittsburgh Systems

(Reuters) - The deal is expected to close either in the fourth quarter
or the first quarter, the company said.





Read more at Reuters.com Mergers News

Compellent Technologies files for $60 mln IPO

(Reuters) - The filing did not reveal how many shares the company
planned to sell or the expected price.




The provider of enterprise-class network storage solutions
said it applied for a Nasdaq listing under the symbol "CPLT."



Read more at Reuters.com Government Filings News

Gold gains on security worries, dollar drop

(Reuters) - Gold rose as high as $652.10 an ounce and was quoted at $650.90/651.50 at 0946 GMT, against $648.70/$650.20 in New York late on Friday and last week's three-month low of $638.90.




"The terror attacks in the UK over the weekend could bring some safe-haven positioning into the gold market over the next few days, although with the Independence Day holiday in the U.S. on Wednesday, conditions are likely to be on the thin side," said James Moore, precious metals analyst at TheBullionDesk.com.


Read more at Reuters.com Hot Stocks News

U.K. Bonds Climb as Terror Threat Prompts Investors to Seek Safest Assets

(Bloomberg) -- Gilts gained, pushing 10-year yields
to near a three-week low, as investors bought the safest assets
following an attack on Glasgow's airport and two attempted car
bombings in London.

Gilts snapped a two-day losing streak after the U.K. Home
Office raised its terrorist threat assessment for the country to
``critical.'' Police arrested five suspects after a Jeep was
crashed into the terminal of Glasgow International Airport and
caught fire, and a manhunt is underway to catch the makers of the
car bombs, placed in the capital's busy West End district.


Read more at Bloomberg Bonds News

Japan auto sales down for 14 straight months

(Reuters) - TOKYO, July 2 - Sales of new cars, trucks and buses in Japan slid 9.4 percent in June for the 14th straight month of decline as demand remained weak across all segments and new models failed to inspire a rebound for many.



Vehicle sales totalled 462,166 units last month, with 660cc minivehicles, which get preferential tax treatment, falling 6.1 percent to 170,526 units.


Read more at Reuters.com Economic News

Solarworld Plans German Factory to Double Production, Wins New Contracts

(Bloomberg) -- Solarworld AG, Germany's second-largest
solar-energy company, said it plans to build a new factory after
orders surged.

The company expects to double its annual production capacity
to turn out devices with 1,000 megawatts, Bonn-based Solarworld
said today in a statement distributed by DGAP newswire. The company
said it has won more than 500 million euros ($677 million) in new
orders from international customers.


Read more at Bloomberg Energy News

GLOBAL MARKETS-Security concerns weigh on stocks, boost bonds

(Reuters) - Lingering concerns about the impact of tightening credit on
company profits -- ahead of an expected interest rate hike in
Britain this week -- as well as worries about the U.S. high-risk
mortgage sector also helped weigh on investor risk appetite.




Britain has raised its security rating to its highest level
after failed car bombing attempts in London and an attack on a
Scottish airport over the weekend.


Read more at Reuters.com Economic News

Bear Stearns Meets Possums in Georgia as Foreclosures Rise on Housing Bust

(Bloomberg) -- Only the possums are enjoying the
backyard of 2035 Lilac Lane in Decatur, Georgia, where Wall
Street titan Bear Stearns Cos. is just another homeowner by
default.

``It's a mess,'' said Kiwanna Ford, 31, who grew up next
door to the vacant brick ranch-style house four miles south of
the DeKalb County Courthouse. Bear Stearns seized the property
three months ago after Ford's neighbor stopped making payments on
his mortgage. ``If we wanted to sell our house right now with
that next door, it would hurt,'' she said.


Read more at Bloomberg Bonds News

Indonesian Inflation Slows to Seven-Month Low; Bank May Cut Interest Rate

(Bloomberg) -- Indonesia's inflation eased to a
seven-month low in June, and the pace may encourage the central
bank to cut interest rates further to spur economic growth.

Consumer prices rose 5.8 percent from a year earlier after
gaining 6 percent in May, the Central Statistics Bureau said in
Jakarta today. The median estimate of 16 economists surveyed by
Bloomberg News was for a 5.9 percent increase. Inflation
accelerated to 0.2 percent from a month earlier.


Read more at Bloomberg Emerging Markets News