Global Stocks Decline on Mortgage Concern, Paced by UBS, BNP, Macquarie

(Bloomberg) -- Stocks in Europe and Asia fell,
following a drop in the U.S. last week, as concern mounted that
losses in the U.S. mortgage market will erode economic growth and
raise financing costs for companies.

UBS AG and BNP Paribas SA led a decline by financial shares
in Europe, while Macquarie Bank Ltd. and Mizuho Financial Group
Inc. paced falling shares in Asia. Royal Philips Electronics NV
and Lafarge SA decreased as the dollar traded near a record low
against the euro. BHP Billiton Ltd. and Rio Tinto Group declined
after copper fell in Shanghai.


Read more at Bloomberg Stocks News

French Stocks Drop; Arcelor Mittal, Renault, BNP Paribas Lead the Slide

(Bloomberg) -- French stocks declined for a fourth
day, led by Arcelor Mittal, Renault SA and BNP Paribas SA.

The CAC 40 Index lost 50.81, or 0.9 percent, to 5952.04 at
10:45 a.m. in Paris. The SBF 120 Index dropped 0.8 percent.


Read more at Bloomberg Stocks 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

European Stocks Drop, Led by Deutsche Bank, BNP Paribas on Downgrade

(Bloomberg) -- European stocks dropped on speculation
gains that have sent the Dow Stoxx 600 Index to within 7 points
of a record don't reflect the outlook for earnings growth.

Deutsche Bank AG and BNP Paribas SA paced the decline after
JPMorgan, Chase & Co. cut its recommendation on the investment
banking industry.


Read more at Bloomberg Stocks News