UPDATE 1-Grupo Mexico 2nd-qtr net profit up 48.6 pct

(Reuters) - Earnings before interest, tax, depreciation and
amortization rose 54 percent to $1.234 billion.




Grupo Mexico also said that its board
approved a dividend of 1 peso per share which will be paid in
one exhibit starting September 3.


Read more at Reuters.com Market News

Data, earnings loom after painful week

(Reuters) - The Standard & Poor's 500 and Dow Jones industrial average ended trading on Friday at the week's lowest levels, mark the worst one-week percentage drop for the S&P 500 in nearly five years and the gloomiest on the Dow in five months.




As investors ponder their dwindling returns on the year, big events in the week ahead include the government's sometimes unpredictable payrolls report and quarterly earnings from heavy-hitters such as General Motors and Walt Disney Co..


Read more at Reuters.com Hot Stocks News

Stocks plummet on credit fears, bonds rally

(Reuters) - Worries over a possible credit crunch overwhelmed data from the government showing second-quarter U.S. growth that was the strongest in over a year.




In a scramble for safety, investors put money into the safe haven of U.S. government bonds, sending prices higher and briefly pushing benchmark Treasury yields to two-month lows.


Read more at Reuters.com Bonds News

Strong C$, weak prices drive Canfor to loss

(Reuters) - That compared with a net profit of C$39.2 million, or 28
Canadian cents per share, in the same period last year. Those
results were boosted by one-time items.







Read more at Reuters.com Market News

Mexico stocks end up, rebound from sharp losses

(Reuters) - The benchmark IPC stock index added 238.57 points to
finish at 30,235.17 points. The index had plunged 3.56 percent
on Thursday.




The peso firmed 0.28 percent to close at 10.96 per
dollar after the Mexican central bank kept interest rates
steady at a monthly monetary policy review.


Read more at Reuters.com Bonds News

Coca-Cola Bottling posts higher quarterly profit

(Reuters) - Net sales for the quarter rose to $390.4 million from $386.6 million.







Read more at Reuters.com Market News

Platinum Falls Most in Eight Months on Stronger Dollar; Palladium Declines

(Bloomberg) -- Platinum fell the most in eight
months in New York as the dollar strengthened, reducing the
metal's appeal as an alternative investment. Palladium also
dropped.

Platinum is traded mostly in dollars, which rose to a two-
week high against the euro, making the metal more expensive for
holders of the European currency. U.S. stocks extended
yesterday's drop, the biggest in five months, as investors
shunned riskier investments in favor of bonds.


Read more at Bloomberg Commodities News

UPDATE 1-Mexico silver mine Penoles Q2 profit up 16.2 pct

(Reuters) - Penoles , the world's top maker of refined
silver, said second-quarter sales totaled 11.247 billion pesos,
up 6.3 percent from the same period last year on higher volumes
and strong metals prices.




Costs rose in the quarter on more expensive labor,
maintenance and repairs, Penoles said.


Read more at Reuters.com Market News

Cattle Futures Head for Fifth-Straight Weekly Gain on Exports; Hogs Rise

(Bloomberg) -- Cattle futures rose to a three-month
high in Chicago, heading for their fifth-straight weekly gain on
expectations that export sales will increase. Hog prices
advanced on speculation of more pork sales to China.

U.S. beef exports to Japan and South Korea, typically the
largest overseas customers, have risen since both countries this
year lifted bans imposed in December 2003 after a mad-cow
disease outbreak. Japan bought $1.4 billion in U.S. beef in 2003
and South Korea bought $814 million worth.


Read more at Bloomberg Commodities News

Chile stocks resist pull of US market, peso slips

(Reuters) - The Dow Jones Industrial average fell 0.65 percent,
despite better than expected second-quarter GDP growth data.




"We haven't taken our eyes off the U.S. market," said
Lorena Pizarro, head of research with the Alfa brokerage.


Read more at Reuters.com Bonds News

Pound Posts Weekly Decline Versus Dollar as Investors Shun Risk, on Carry

(Bloomberg) -- The pound snapped a six-week rally
against the dollar as global stocks slumped and investors pared
so-called carry trades on concern U.S. subprime mortgage defaults
will slow growth.

The U.K. currency slid for a third day against the dollar,
falling from a 26-year high, as investors unwound purchases of
assets funded by borrowing in Japan and Switzerland, which have
the lowest rates among major economies. The pound this week fell
almost 4 percent against the yen, the most in five months.


Read more at Bloomberg Currencies News

Canadian Stocks Extend Decline on Takeover Concern; BCE Shares Retreat

(Bloomberg) -- Canadian stocks fell, extending a
benchmark index's worst week since the September 20001 terror
attacks, as investors concerned about a worsening housing market
in the U.S. sold riskier assets.

Commodity shares such as Canadian Natural Resources Ltd.
retreated on speculation that demand may drop in the U.S. BCE
Inc., target of the largest buyout, retreated after Citi
Investment Research cut its recommendation on the stock, citing
growing risks to its financing.


Read more at Bloomberg Stocks News

Crocs, Deckers, Isilon, Kyphon, Six Flags and U.S.B.: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 11:40 a.m. in New York.

Crocs Inc. (CROX US) rose $4.66, or 9.2 percent, to $55.25.
The maker of resin clogs forecast profit of as much as 62 cents a
share in the third quarter. Analysts expect 43 cents, the average
of six estimates in a Bloomberg survey.


Read more at Bloomberg Stocks News

US STOCKS-Indexes fall on persistent credit worries

(Reuters) - NEW YORK, July 27 - U.S. stocks fell on Friday as
persistent concern about financing for corporate takeovers amid
a broadening deterioration in credit markets offset positive
data on economic growth.




Comments by Treasury Secretary Henry Paulson briefly lent
some support, but the underlying tone on Wall Street remained
nervous, a day after equities suffered their second worst
decline of the year.


Read more at Reuters.com Bonds News

Credit Suisse poaches Lehman metals/mining banker

(Reuters) - He will be part of Credit Suisse's European energy group and
report to Jeremy Fletcher, chairman of the bank's EMEA metals
and mining unit. He is slated to start Sept. 3 and will be based
in London.




Tory, who also previously worked as an attorney, has advised
Anglo-American, Glencore International and Rio Tinto .
Lehman was advising Alcoa on a possible bid for Alcan
before the Canadian company agreed to be bought by Rio Tinto.


Read more at Reuters.com Mergers News

UPDATE 2-Fannie Mae portfolio grows, subprime stable

(Reuters) - The largest U.S. home funding company's growth in June and
May comes as mortgage assets have cheapened considerably.




Mortgage securities have sharply underperformed Treasuries
as risk-averse investors fear greater housing, credit and
lending fallout from a crisis in the subprime mortgage sector.


Read more at Reuters.com Government Filings News

UPDATE 1-Hubbell earnings jump as cost-cutting steps pay off

(Reuters) - Hubbell's Class A shares were trading up 8 percent at
$59.30, after hitting a year-high of $60.40 earlier on the New
York Stock Exchange.




In a slower residential market, Hubbell has been focusing
on improving its profits through cutting costs, boosting prices
and enhancing productivity.


Read more at Reuters.com Market News

US STOCKS-Wall St slips at open as credit jitters remain

(Reuters) - The Dow Jones industrial average was down 1.54
points, or 0.01 percent, at 13,472.03. The Standard & Poor's
500 Index was down 1.49 points, or 0.10 percent, at
1,481.17. The Nasdaq Composite Index was down 5.27
points, or 0.20 percent, at 2,594.07.




Read more at Reuters.com Bonds News

US STOCKS-Indexes rise after Paulson

(Reuters) - The Dow Jones industrial average was up 23.66
points, or 0.18 percent, at 13,497.23. The Standard & Poor's
500 Index was up 2.79 points, or 0.19 percent, at
1,485.45. The Nasdaq Composite Index was up 5.44
points, or 0.21 percent, at 2,604.78.




Read more at Reuters.com Bonds News

US economy, exports driven by global growth-Paulson

(Reuters) - "Now I believe what we're seeing is a strong global
economy. This is the strongest global economy I've seen in 32
years. The growth rate in Europe has doubled. We've got growth
throughout Asia. Japan is now growing, so I think this is being
driven by strong growth outside of the U.S."




The Commerce Department said earlier that U.S. economic
growth rebounded to 3.4 percent during the second quarter, its
strongest pace since the beginning of last year on a surge in
business investment, increased government spending and improved
trade performance. The data marked a big turnaround from anemic
0.6 percent growth in the first quarter, a figure previously
reported as 0.7 percent.


Read more at Reuters.com Economic News

Canadian Stocks Advance, Led by Financial Shares; Royal Bank Shares Rise

(Bloomberg) -- Canadian stocks advanced, led by
Royal Bank of Canada and Toronto-Dominion Bank.

The Standard & Poor's/TSX Composite Index rose 91.27, or 0.7
percent, to 13,935.87 as of 10:24 a.m. in Toronto.


Read more at Bloomberg Stocks News

UPDATE 1-Peruvian miner Buenaventura 2nd-qtr net sinks

(Reuters) - Net earnings fell to $14.5 million from $139.8 million a
year earlier.




"The unwinding of the 2007-2009 hedge book positions ...
had a one-time negative net effect of $64.7 million," Chief
Executive Roque Benavides said in a statement.


Read more at Reuters.com Market News

Washington Grp major shareholder says to vote against URS deal

(Reuters) - On May 28, URS said it would acquire the company for about
$2.3 billion, and the pending acquisition had already cleared
an antitrust hurdle.





Read more at Reuters.com Government Filings News

UPDATE 1-Chevron 2nd-qtr earnings rise with refining

(Reuters) - Net income in the second quarter increased to $5.38
billion, or $2.52 a share, from $4.35 billion, or $1.97 a
share, last year.




Excluding the $680 million gain on sale of Dynegy stock and
a $160 million loss on debt redemption, the company would have
posted earnings of about $2.37 a share. On that basis, the
average forecast of Wall Street analysts was $2.30 a share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Baker Hughes says profit slips, cites Canada

(Reuters) - Weak natural gas prices and an early thaw in the first half of the year prompted energy companies to sharply curtail their exploration in Canada, which in turn cut into oilfield service revenues.




For example, the number of rigs actively looking for oil in Canada fell 51 percent in the second quarter from year-earlier levels, Baker Hughes said.


Read more at Reuters.com Business News

US RATE FUTURES-Boost gains on GDP, inflation data

(Reuters) - Futures show an 82 percent chance the Fed will ease by
year-end , up from 76 percent overnight. Before
Thursday's rally prospects for a Fed cut this year were below
50 percent.




U.S. second-quarter real GDP growth was reported at 3.4
percent against the consensus Wall Street forecast of 3.2
percent.


Read more at Reuters.com Bonds News

Cadbury Schweppes, Crocs, QLogic, Sierra Wireless: 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 8:55 a.m. in New York.

Cadbury Schweppes Plc's (CSG US) American depositary
receipts, each representing four ordinary shares, fell 28 cents
to $48.16 in trading before U.S. exchanges opened. The world's
largest confectionery company said it's extending the deadline
for selling its U.S. drink unit, becoming the first company to
delay a deal because of ``extreme volatility'' in debt markets.


Read more at Bloomberg Stocks News

Scana 2nd-quarter earnings slip

(Reuters) - Excluding the year-earlier gain of 4 cents per share from
the lawsuit settlement, earnings were up 1 cent per share.





Read more at Reuters.com Market News

Gold Heads for Weekly Decline in London on Dollar Rebound; Silver Drops

(Bloomberg) -- Gold fell in London, heading for the
biggest weekly decline in more than four months, as gains in the
dollar reduce demand for the metal as an alternative investment.
Silver also dropped.

Gold has declined 3.3 percent this week after the dollar
headed for the first weekly advance in seven against the euro.
European central banks have sold about two-thirds of the bullion
allowed under an agreement that runs through Sept. 26, World Gold
Council figures show.


Read more at Bloomberg Commodities News

CORRECTED - UPDATE 1-Glaxo signs $1.5 bln drug deal with Targacept

(Reuters) - LONDON, July 27 - GlaxoSmithKline Plc took
a further step to boost its new drug pipeline on Friday by
clinching a drug development deal potentially worth more than
$1.5 billion with U.S. biotech firm Targacept Inc. .




The alliance gives Europe's biggest drugmaker access to
Targacept's neuronal nicotinic receptor compounds, including an
experimental drug in mid-stage Phase II clinical trials for
acute post-operative pain.


Read more at Reuters.com Mergers News

Kimberly-Clark, InterGen Find Buyers for New Bond Sales as Demand Slumps

(Bloomberg) -- Kimberly-Clark Corp., the maker of
Huggies diapers and Kleenex tissues, and power producer InterGen
were among borrowers that pressed ahead with $10.6 billion of bond
sales this week as investor demand for company debt slumped.

Kimberly-Clark raised $2.1 billion in its biggest offering.
InterGen of Burlington, Massachusetts, sold $1.88 billion of
notes after reducing the sale and boosting yields twice to
attract investors. The deals brought total offerings for the
month to $37.6 billion, the slowest this year and a 19 percent
decrease from July 2006, according to data compiled by Bloomberg.


Read more at Bloomberg Bonds News

UPDATE 4-India lifts Capgemini H1 profit but shares fall

(Reuters) - PARIS, July 27 - Computer consultancy Capgemini
said first-half operating profit rose 49 percent, buoyed by
Indian expansion, but the result barely met expectations and its
shares led losses on a nervy French stock market.




Europe's top IT consultancy set out plans to strengthen its
position as one of India's largest foreign IT players and
targeted improved operating margins for 2007 and 2008.


Read more at Reuters.com Mergers News

ITT Corp. profit up on defense, water gear sales

(Reuters) - Excluding a tax gain and other special items, profit from
continuing operations was 92 cents per share.




Read more at Reuters.com Market News

GLOBAL MARKETS-Financial markets stabilise after tremble

(Reuters) - LONDON, July 27 - Global financial markets
stabilised on Friday after robust corporate results soothed
credit fears which have triggered a broad and volatile sell-off
in stocks and other risky assets.




Earlier, world stocks hit a 6-week low while credit spreads
and emerging sovereign bond spreads burst wider as fears grew
that a U.S. housing fallout might trigger a global credit
crunch.


Read more at Reuters.com Economic News

Hungary's Forint Posts Weekly Drop as Investors Flee Emerging Markets

(Bloomberg) -- The Hungarian forint posted its
biggest weekly drop against the euro in 10 months as tumbling
global stocks and concern about U.S. subprime mortgage losses
prompted investors to shun emerging markets.

The forint was the third worst performer against the euro
over the past five days, sliding more than 2 percent, as the NTX
Index of stocks in central Europe's 30 largest companies declined
the most in a week since March. Investors reversed trades where
they'd bought the forint to take advantage of Hungary's 7.75
percent interest rate, also sending the currency tumbling.


Read more at Bloomberg Currencies News

European Stocks Erase Gains; Shares of Deutsche Bank, Allianz Lead Decline

(Bloomberg) -- European stocks erased gains as
shares of Deutsche Bank AG and Allianz SE declined.

The Dow Jones Stoxx 600 Index lost 0.3 percent to 373.5 at
11:05 a.m. in London. The index added as much as 0.7 percent
earlier. The Stoxx 50 was little changed, and the Euro Stoxx 50,
a measure for the euro region, slipped 0.2 percent.


Read more at Bloomberg Stocks News

GLOBAL MARKETS-Stocks off lows, bonds, yen erase gains

(Reuters) - MSCI main world equity index was down 0.6
percent, off its earlier low.




The iTraxx Crossover index, a widely watched indicator for
European credit market sentiment, tightened 9 basis points after
blowing out to 445 bps earlier. Emerging market sovereign bond
spreads tightened 4 basis points .


Read more at Reuters.com Economic News

Dollar Rebounds as U.S. Stock-Index Futures Advance Before GDP Report

(Bloomberg) -- The dollar rebounded against the yen
and the euro as stock markets gained before a report expected to
show U.S. economic growth accelerated in the second quarter.

The dollar may trim this month's 1.8 percent decline versus
the euro as the Commerce Department will probably say the economy
expanded at an annualized 3.2 percent rate, the fastest in more
than a year, according to a Bloomberg survey. U.S. stock-index
futures rose and European stocks erased earlier losses.


Read more at Bloomberg Currencies News

Taiwanese Stocks Drop Most in a Year, Hon Hai Falls: World's Biggest Mover

(Bloomberg) -- Taiwan's stocks plunged the most in a
year as mounting concern a U.S. housing slump is worsening
prompted investors to ditch riskier assets such as equities.

The drop wiped out $32.5 billion of market value today,
according to the Taiwan Stock Exchange. Selling by overseas
investors reached a record.


Read more at Bloomberg Stocks News

EU says Intel made 3 kinds of antitrust violations

(Reuters) - chips at below cost, the European Commission said on Friday.



On Thursday the Commission, the European Union's top antitrust regulator, issued formal charges against Intel for allegedly using illegal tactics against smaller rival Advanced Micro Devices .


Read more at Reuters.com Mergers News

Lead Stockpiles on LME Decline to Three-Month Low; Nickel Inventories Rise

(Bloomberg) -- Lead stockpiles monitored by the
London Metal Exchange fell to the lowest in more than three
months. Nickel inventories rose to a 13-month high.

The lead inventories dropped 450 metric tons, or 1.1
percent, to 39,000 tons, the LME said today in a daily report.
That's the lowest since April 19.


Read more at Bloomberg Commodities News

Dutch BinckBank still interested in Alex brokerage

(Reuters) - Rabobank said in March that it might sell its retail
Internet broker Alex, which it bought in 2003.




Read more at Reuters.com Mergers News

Tongaat sees H1 headline loss per share of 145 cts

(Reuters) - South African sugar group Tongaat Hullet (TH) expects a headline loss per share for the six months to end-June of 145 cents per share versus a headline profit per share of 283 cents per share a year-ago.

The company said on Friday the loss came about after accounting for expenses from restructuring the company by selling a stake to black investors and other costs.


Read more at Reuters Africa

S.Africa's bourse down 2 pct on global sell off

(Reuters) - South Africa's blue chip top 40 index opened more than 2 percent lower on Friday on the back of a global markets sell off.

Asian shares dropped sharply while Japanese government bonds and the yen rose on Friday as investors fled riskier assets, fearing rising costs of corporate credit will damage the U.S. economy. European shares also opened lower.


Read more at Reuters Africa

UPDATE 1-S.Korea Kia's Q2 beats fcast; H2 outlook tough

(Reuters) - Yet Kia's second-half outlook is weighed down as sales are
unlikely to pick up significantly and as a strong won may
keep denting sales of the company, which sells about 80 percent
of its vehicles overseas.




But Kia's Slovakia factory and the won's weakness against the
euro may reduce the impact of the won's rise versus
the dollar.


Read more at Reuters.com Market News

Asian Shares Slide Most in Four Months, Adding to $1.3 Trillion Sell-Off

(Bloomberg) -- Asian stocks fell the most in four
months, extending a rout that wiped out $1.3 trillion of global
market value yesterday, as investors shun riskier assets because
of a deepening U.S. housing recession.

``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages
the equivalent of $11.4 billion. ``If the U.S. is under question,
there might be a broader contagion.''


Read more at Bloomberg Stocks News