Turkish Stocks Decline on Rising Bond Yields: World's Biggest Mover

(Bloomberg) -- Turkey's benchmark stock index dropped
for a third day as rising bond yields in the U.S. decreased the
appeal of riskier emerging-market assets.

Tupras Turkiye Petrol Rafinerileri AS, Turkey's biggest oil
refiner, and Turkiye Is Bankasi AS, the country's biggest bank,
paced the decline.


Read more at Bloomberg Stocks News

Crude Oil Rises on Concern U.S. Refineries Aren't Making Enough Gasoline

(Bloomberg) -- Crude oil rose in New York on concern
lower U.S. refinery usage will limit gasoline supply gains during
the peak summer driving season.

U.S. refinery utilization was at a less-than-expected 89.6
percent last week, down from 91.1 percent, the U.S. Energy
Department said. Prices rose yesterday following reports that
Turkish troops chased Kurdish guerrillas into northern Iraq.
Government officials from Turkey and the U.S. denied the attack.


Read more at Bloomberg Energy News

Polish Zloty Drops for Third Week Against Euro as Investors Shun Risk

(Bloomberg) -- The Polish zloty fell for a third week
against the euro as investors turned more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the sixth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News

Polish Zloty Set for Third Week of Declines Versus Euro on Risk Aversion

(Bloomberg) -- The Polish zloty is set for a third
week of declines as investors turn more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the fourth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News