(Reuters) - NEW YORK, April 13 - U.S. government bonds fell on Friday after a report showed lurking inflation pressures, while blue-chip stocks rose modestly on higher earnings and profit forecasts.
The dollar held near a two-year low against the euro after a consumer sentiment index hit an eight-month low in April.
Read more at Reuters.com Bonds News
Friday, April 13, 2007
UPDATE 1-Cadbury surges after Cott shares suspended
(Reuters) - LONDON, April 13 - Shares in Cadbury Schweppes Plc surged almost 5 percent after rival soft drinks group Cott Corp.'s shares were suspended and due to growing interest by private equity groups in Cadbury's beverage unit.
The London-based group's shares rose as high as 700 pence to top the FTSE 100 gainers on Friday before closing up 1.7 percent at 678p, making it the tenth biggest index gainer, after Cott shares stopped trading in Toronto "pending news", which traders said could be news of a Cott plan to buy Cadbury's drinks unit.
Read more at Reuters.com Mergers News
The London-based group's shares rose as high as 700 pence to top the FTSE 100 gainers on Friday before closing up 1.7 percent at 678p, making it the tenth biggest index gainer, after Cott shares stopped trading in Toronto "pending news", which traders said could be news of a Cott plan to buy Cadbury's drinks unit.
Read more at Reuters.com Mergers News
Crude Oil Rises Above $64 as Refiners Increase Gasoline Output in U.S.
(Bloomberg) -- Crude oil rose above $64 a barrel in New York on speculation demand will climb as U.S. refiners increase operating rates to make gasoline for the summer months.
Refineries are bolstering output because the profit margin, or ``crack,'' for turning crude oil into gasoline and heating oil has more than tripled this year. Refineries operated at 88.4 percent of capacity last week, the highest since Jan. 5, the Energy Department said. Oil surged yesterday on an International Energy Agency report showing that world supplies fell last month.
Read more at Bloomberg Commodities News
Refineries are bolstering output because the profit margin, or ``crack,'' for turning crude oil into gasoline and heating oil has more than tripled this year. Refineries operated at 88.4 percent of capacity last week, the highest since Jan. 5, the Energy Department said. Oil surged yesterday on an International Energy Agency report showing that world supplies fell last month.
Read more at Bloomberg Commodities News
Four Seasons gets court OK for privatization plan
(Reuters) - The company said the Ontario Superior Court of Justice had issued the final order approving the plan.
Last week, Four Seasons said 69 percent of the holders of limited voting shares approved the privatization proposed by a syndicate of investors that includes Microsoft Corp.'s Bill Gates, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and his family, and Four Seasons' Chairman Isadore Sharp.
Read more at Reuters.com Mergers News
Last week, Four Seasons said 69 percent of the holders of limited voting shares approved the privatization proposed by a syndicate of investors that includes Microsoft Corp.'s Bill Gates, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and his family, and Four Seasons' Chairman Isadore Sharp.
Read more at Reuters.com Mergers News
Bank of America Says Buy Options to Bet on a Pound Decline Versus Dollar
(Bloomberg) -- The British pound will decline against the U.S. dollar in the second half of the year as the Federal Reserve keeps interest rates unchanged, according to Bank of America Corp., the biggest U.S. bank by deposits.
Bank of America advises investors to buy options to bet on a slide in the pound over the next six months. The currency should drop about 6 percent by early October amid investor disappointment over the failure of the Fed to cut rates.
Read more at Bloomberg Currencies News
Bank of America advises investors to buy options to bet on a slide in the pound over the next six months. The currency should drop about 6 percent by early October amid investor disappointment over the failure of the Fed to cut rates.
Read more at Bloomberg Currencies News
Argentina's Peso Bonds Decline on Mounting Concern Over CPI Data Tampering
(Bloomberg) -- Argentine peso bonds fell for a second day on mounting distrust of the government's inflation figures.
The National Statistics Institute revised this week the March figures from a component of the consumer price index called the basic food basket. The institute said on April 11 that prices in the basket fell 0.2 percent in March, reversing an initial report of a 3.6 percent rise. The move added to data- tampering concerns that began in January when President Nestor Kirchner replaced the head of inflation-gathering at the institute with a political appointee.
Read more at Bloomberg Emerging Markets News
The National Statistics Institute revised this week the March figures from a component of the consumer price index called the basic food basket. The institute said on April 11 that prices in the basket fell 0.2 percent in March, reversing an initial report of a 3.6 percent rise. The move added to data- tampering concerns that began in January when President Nestor Kirchner replaced the head of inflation-gathering at the institute with a political appointee.
Read more at Bloomberg Emerging Markets News
US STOCKS-Indexes flat as data offsets M&A
(Reuters) - NEW YORK, April 13 - U.S. stocks were little changed on on Friday as signs of eroding consumer confidence offset optimism about a possible buyout of student-loan company Sallie Mae and positive earnings news.
Blue chips rose after drug maker Merck & Co. raised its forecast for profits and conglomerate General Electric Co. reported higher profit and reaffirmed its outlook.
Read more at Reuters.com Bonds News
Blue chips rose after drug maker Merck & Co. raised its forecast for profits and conglomerate General Electric Co. reported higher profit and reaffirmed its outlook.
Read more at Reuters.com Bonds News
Apple Mac Software Delay Garners Few Negative Reviews Apart From Bernstein
(Bloomberg) -- Apple Inc.'s announcement that it has delayed the release of its new Macintosh system software didn't garner much negative reaction from major investment firms including Merrill Lynch & Co., Goldman, Sachs & Co. and Deutsche Bank Securities Inc.
Not so at Sanford C. Bernstein & Co.
Read more at Bloomberg Stocks News
Not so at Sanford C. Bernstein & Co.
Read more at Bloomberg Stocks News
Corn Climbs as U.S. Rains Leave Fields Muddy, Slow Planting; Soybeans Rise
(Bloomberg) -- Corn prices rose more than 2 percent in Chicago after farmers faced delays in crop seeding because rain and snow made fields soggy in the central Great Plains. Soybeans also climbed.
As much as three times the normal amount of moisture fell in the past week in parts of Iowa and Illinois, the largest corn-producing states, National Weather Service data showed. Parts of the central Plains will get as much as 1.5 inches (3.8 centimeters) of rain in the next 24 hours, further delaying planting, forecaster Meteorlogix LLC said.
Read more at Bloomberg Commodities News
As much as three times the normal amount of moisture fell in the past week in parts of Iowa and Illinois, the largest corn-producing states, National Weather Service data showed. Parts of the central Plains will get as much as 1.5 inches (3.8 centimeters) of rain in the next 24 hours, further delaying planting, forecaster Meteorlogix LLC said.
Read more at Bloomberg Commodities News
Brazil needs to hike public investments - IMF
(Reuters) - Brazil also needs a more liberal budget structure by trimming revenue earmarks and mandatory expenditure requirements to make its budget more flexible in how it allocates spending priorities.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Planar Systems shares hit new year-low on outlook cut
(Reuters) - The management is now likely to take more time to put the company into a growth trajectory "with potential bumps along the way, as evidenced by the second-quarter miss," Needham & Co. analyst James Ricchiuti said in a note to clients.
Ricchiuti downgraded the stock to "hold" from "buy".
Read more at Reuters.com Hot Stocks News
Ricchiuti downgraded the stock to "hold" from "buy".
Read more at Reuters.com Hot Stocks News
US STOCKS-Indexes reverse course on consumer data
(Reuters) - The Dow Jones industrial average was down 0.89 point, or 0.01 percent, at 12,552.07. The Standard & Poor's 500 Index was down 0.72 point, or 0.05 percent, at 1,447.08. The Nasdaq Composite Index was down 8.66 points, or 0.35 percent, at 2,471.66.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-Some 90,000 customers still without power in Calif.
(Reuters) - A spokeswoman for the Los Angeles Department of Water and Power said about 88,000 of the municipal utility's customers were still without service, down from 109,000 customers affected earlier.
She said it could take another day or two for the company to restore service to all customers.
Read more at Reuters.com Bonds News
She said it could take another day or two for the company to restore service to all customers.
Read more at Reuters.com Bonds News
UPDATE 2-Saskpool to raise C$315.9 mln in public offering
(Reuters) - Agricore shares were halted on the Toronto Stock Exchange pending news and Saskpool shares dropped 3.3 percent or 30 Canadian cents after it announced its offering.
Agricore United has been weighing Saskpool's offer against a friendly but lower bid from privately held James Richardson International Ltd., Canada's third-largest grain company.
Read more at Reuters.com Mergers News
Agricore United has been weighing Saskpool's offer against a friendly but lower bid from privately held James Richardson International Ltd., Canada's third-largest grain company.
Read more at Reuters.com Mergers News
Commerce Planet, Keithley, Lubrizol, Varian Medical: 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 10:10 a.m. New York time.
Avalon Pharmaceuticals Inc. (AVRX US) rose 38 cents, or 8.2 percent, to $5 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
Avalon Pharmaceuticals Inc. (AVRX US) rose 38 cents, or 8.2 percent, to $5 and traded as high as $5.25. Shares of the drugmaker may rise more than 180 percent in a year on the promise of a drug in early-stage trials, Business Week reported in its ``Inside Wall Street'' column, citing Patrick Flanigan of WR Hambrecht & Co. Flanigan said the drug AVN944, designed to inhibit tumor-cell growth, could have peak sales of $550 million, according to the magazine.
Read more at Bloomberg Stocks News
Lubrizol sees Q1 earnings above Street view
(Reuters) - The company said it expects first-quarter adjusted earnings from continuing operations of 98 cents a share, excluding a 2 cents a share restructuring credit, compared with 68 cents a share a year ago.
Analysts on average expect the company to post first-quarter earnings of 76 cents a share, excluding exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average expect the company to post first-quarter earnings of 76 cents a share, excluding exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
Canada's Goldcorp Shares Rise, Financial Slip: S&P/TSX Is Little Changed
(Bloomberg) -- Canada's main stock benchmark was little changed. Shares of raw-materials producers including Goldcorp Inc. advanced, while financial companies such as Toronto- Dominion Bank declined.
The Standard & Poor's/TSX Composite Index added 10.92, or 0.1 percent, to 13,510.57 as of 9:53 a.m. in Toronto. The benchmark rose above its record close set yesterday and has gained 4.7 percent this year.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index added 10.92, or 0.1 percent, to 13,510.57 as of 9:53 a.m. in Toronto. The benchmark rose above its record close set yesterday and has gained 4.7 percent this year.
Read more at Bloomberg Stocks News
Barclays under pressure as ABN talks deadline nears
(Reuters) - LONDON, April 13 - Britain's Barclays , in the final days of exclusive takeover talks with rival ABN AMRO , was under pressure from shareholders on Friday to secure a sound price or to swallow its pride and walk away.
Barclays and ABN, which together would form the world's fifth-largest bank worth some $180 billion, began negotiations last month to strike the biggest ever bank takeover deal.
Read more at Reuters.com Mergers News
Barclays and ABN, which together would form the world's fifth-largest bank worth some $180 billion, began negotiations last month to strike the biggest ever bank takeover deal.
Read more at Reuters.com Mergers News
Genentech May Boost Herceptin Sales With Treatment for Resistant Cancers
(Bloomberg) -- Genentech Inc., the world's second- largest biotechnology company, is testing a breast-cancer treatment that may add $1.5 billion in annual sales to its Herceptin drug business.
The experimental therapy increased the effectiveness of Herceptin against drug-resistant cancer cells by linking the drug with chemical toxins, according to a study by the South San Francisco, California-based drugmaker. The treatment binds tumor-killing chemicals to Herceptin, causing fewer side effects by attacking cancer cells and mostly leaving normal tissue alone.
Read more at Bloomberg Exclusive News
The experimental therapy increased the effectiveness of Herceptin against drug-resistant cancer cells by linking the drug with chemical toxins, according to a study by the South San Francisco, California-based drugmaker. The treatment binds tumor-killing chemicals to Herceptin, causing fewer side effects by attacking cancer cells and mostly leaving normal tissue alone.
Read more at Bloomberg Exclusive News
Mylan gets FDA OK for generic Metaglip
(Reuters) - Mylan got marketing approval from the U.S. Food and Drug Administration for Glipizide and Metformin Hydrochloride Tablets in 2.5 mg/250 mg, 2.5 mg/500 mg and 5 mg/500 mg strengths. The product will be shipped immediately, the company said in a statement.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
US STOCKS-Core PPI lifts shares, Merck helps Dow
(Reuters) - NEW YORK, April 13 - U.S. stocks gained on Friday after government data showed producer prices, excluding food and energy, were unchanged in March, easing fears about inflation and higher interest rates.
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters.com Bonds News
Earnings news also helped stocks. Drug maker Merck & Co. lifted its outlook for first-quarter and full-year profits, while conglomerate General Electric Co. reported a rise in profit.
Read more at Reuters.com Bonds News
New Century can sell mortgages, make payments
(Reuters) - The $47.3 million purchase price was reduced from an original $50 million. New Century would pay Greenwich Capital a $945,000 break-up fee if another bidder wins the mortgages.
Carey also authorized the payment of wages and benefits that workers earned before New Century filed for Chapter 11 bankruptcy protection on April 2.
Read more at Reuters.com Mergers News
Carey also authorized the payment of wages and benefits that workers earned before New Century filed for Chapter 11 bankruptcy protection on April 2.
Read more at Reuters.com Mergers News
Canadian Stocks May Rise, Led by Commodity Shares; Aur Resources May Gain
(Bloomberg) -- Canadian stocks may gain for a second day, led by shares of commodity producers such as Aur Resources Inc., after copper prices extended a six-week rally. Gold prices are also climbed.
The Standard & Poor's/TSX Composite Index may also be boosted by speculation there will be more takeovers, following a report in the Wall Street Journal that Cott Corp. is in talks to be bought out by a private equity firm.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index may also be boosted by speculation there will be more takeovers, following a report in the Wall Street Journal that Cott Corp. is in talks to be bought out by a private equity firm.
Read more at Bloomberg Stocks News
UPDATE 1-Irwin Financial sees loss from operations in Q1
(Reuters) - The company said it expects the loss to be $5 million to $10 million during the quarter.
Irwin Financial said it discovered misrepresentations about collateral for a loan, for which it will take a charge-off of $4.2 million.
Read more at Reuters.com Bonds News
Irwin Financial said it discovered misrepresentations about collateral for a loan, for which it will take a charge-off of $4.2 million.
Read more at Reuters.com Bonds News
Gold Heads for Sixth Straight Weekly Gain on Demand for Dollar Alternative
(Bloomberg) -- Gold in New York headed for the sixth-straight weekly gain as a decline in the value of the dollar boosted the appeal of the precious metal as an alternative investment. Silver also climbed.
Gold generally moves in the opposite direction of the dollar, which fell to the lowest in more than two years against six major currencies. Before today, gold had gained 6.5 percent this year, while the dollar index has dropped 1.5 percent.
Read more at Bloomberg Commodities News
Gold generally moves in the opposite direction of the dollar, which fell to the lowest in more than two years against six major currencies. Before today, gold had gained 6.5 percent this year, while the dollar index has dropped 1.5 percent.
Read more at Bloomberg Commodities News
ICE lays off about 60 NYBOT staff after merger
(Reuters) - "When the acquisition of NYBOT was announced, head-count reductions were included in the synergies, as well as the costs of generous severance packages," spokeswoman Kelly Loeffler stated in an e-mail.
"This is the most difficult phase of an acquisition, but it is a necessary step to remain competitive and create shareholder value," she said.
Read more at Reuters.com Mergers News
"This is the most difficult phase of an acquisition, but it is a necessary step to remain competitive and create shareholder value," she said.
Read more at Reuters.com Mergers News
Midwest board says AirTran offer is inadequate
(Reuters) - CHICAGO, April 13 - Midwest Air Group Inc. , parent of Midwest Airlines, said on Friday its board recommended shareholders reject AirTran Holdings Inc.'s revised offer to buy Midwest.
The board called AirTran's offer of $15 per share, or about $389 million, "inadequate." The bid consists of $9 in cash and 0.5842 shares of AirTran common stock for each Midwest share.
Read more at Reuters.com Mergers News
The board called AirTran's offer of $15 per share, or about $389 million, "inadequate." The bid consists of $9 in cash and 0.5842 shares of AirTran common stock for each Midwest share.
Read more at Reuters.com Mergers News
Producer prices up 1 percent in March
(Reuters) - Overall producer prices rose 3.2 percent from March a year ago, the biggest climb since a 3.8 percent 12 month gain to August 2006.
However, core producer prices rose 1.7 percent from the same period 12 months ago, down from a 1.8 percent year-over-year rise in February.
Read more at Reuters.com Business News
However, core producer prices rose 1.7 percent from the same period 12 months ago, down from a 1.8 percent year-over-year rise in February.
Read more at Reuters.com Business News
RPT-Lifting the Lid: Dow firings point to M&A dangers for execs
(Reuters) - NEW YORK, April 12 - Executive firings at Dow Chemical Co. on Thursday underline how perilous life has become for corporate officers who even appear to talk to deal makers in an era of huge corporate buyouts.
Private equity buyers and their investment bankers are chasing corporate officers more than ever with ideas and pitches for putting companies in play, raising concerns about when and how an executive informs his board.
Read more at Reuters.com Mergers News
Private equity buyers and their investment bankers are chasing corporate officers more than ever with ideas and pitches for putting companies in play, raising concerns about when and how an executive informs his board.
Read more at Reuters.com Mergers News
Poniard Pharma to offer up to 9.5 mln shares
(Reuters) - CIBC World Markets and Lazard Capital Markets will act as joint book-running managers in the offering, Poniard said in a statement.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Yen Rebounds From Record Low Against Euro as G-7 Ministers Gather in U.S.
(Bloomberg) -- The yen rebounded from a record low against the euro and gained the most versus the dollar in two weeks on speculation Group of Seven finance ministers will suggest a recent slump in Japan's currency has gone too far.
The yen pared losses that made it the worst performing of the 16 most-actively traded currencies in the past month before G-7 officials meet today in Washington. Its weakness against the euro makes European exporters less competitive with rivals from Japan. European Central Bank President Jean-Claude Trichet said yesterday that the yen should reflect Japan's economic recovery.
Read more at Bloomberg Currencies News
The yen pared losses that made it the worst performing of the 16 most-actively traded currencies in the past month before G-7 officials meet today in Washington. Its weakness against the euro makes European exporters less competitive with rivals from Japan. European Central Bank President Jean-Claude Trichet said yesterday that the yen should reflect Japan's economic recovery.
Read more at Bloomberg Currencies News
Russian Stocks Increase, Rosneft, Gazprom Neft, Lukoil Pace the Advance
(Bloomberg) -- Russian stocks gained the most in three weeks, led by OAO Rosneft, OAO Gazprom Neft and OAO Lukoil after oil prices advanced for a fourth day in New York.
The ruble-based Micex Index climbed 1.9 percent to 1766.23 at 12:13 p.m. in Moscow. The dollar-denominated RTS Index added 1.3 percent to 1992.96. Both indexes were headed for record closes.
Read more at Bloomberg Emerging Markets News
The ruble-based Micex Index climbed 1.9 percent to 1766.23 at 12:13 p.m. in Moscow. The dollar-denominated RTS Index added 1.3 percent to 1992.96. Both indexes were headed for record closes.
Read more at Bloomberg Emerging Markets News
U.K. Pound Declines Against Yen Before G-7 Meeting; Rises Against Dollar
(Bloomberg) -- The U.K. pound fell against the yen from its highest in a month and a half on concern Group of Seven policy makers meeting today will say weakness in the Japanese currency is unwarranted.
The yen gained against the dollar and euro yesterday after European Central Bank President Jean-Claude Trichet said the currency doesn't reflect the strength of the Japanese economy. His comments echoed those of G-7 central bankers and finance ministers two months ago. The pound rose against the yen and the dollar this week on expectations the U.K. central bank will raise interest rates.
Read more at Bloomberg Currencies News
The yen gained against the dollar and euro yesterday after European Central Bank President Jean-Claude Trichet said the currency doesn't reflect the strength of the Japanese economy. His comments echoed those of G-7 central bankers and finance ministers two months ago. The pound rose against the yen and the dollar this week on expectations the U.K. central bank will raise interest rates.
Read more at Bloomberg Currencies News
German Stocks Rise, Led by SAP, Deutsche Boerse; Wacker Shares Jump
(Bloomberg) -- German stocks gained, paced by SAP AG after Merrill Lynch & Co. said it expects the company to report ``positive'' news in the coming months.
The DAX Index rose 28.23, or 0.4 percent, to 7171.18 at 10:57 a.m. in Frankfurt. DAX futures expiring in June added 0.3 percent to 7216.5. The HDAX Index of the 110 biggest companies gained 0.4 percent.
Read more at Bloomberg Stocks News
The DAX Index rose 28.23, or 0.4 percent, to 7171.18 at 10:57 a.m. in Frankfurt. DAX futures expiring in June added 0.3 percent to 7216.5. The HDAX Index of the 110 biggest companies gained 0.4 percent.
Read more at Bloomberg Stocks News
UPDATE 2-Market Chatter - Corporate finance press digest
(Reuters) - ** Cott Corp., a Toronto company that makes private-label drinks, is talking with private equity firms about joining operations with Cadbury Schweppes PLC's beverage arm, said the Wall Street Journal, citing a person familiar with the talks.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Russia's X5 Chain Aims to Raise $1 Billion in Share Sale for Acquisitions
(Bloomberg) -- X5 Retail Group NV, Russia's largest supermarket company, said it intends to raise $1 billion through a secondary share sale for expansion that may include acquiring the Carousel superstore chain.
X5 will sell the shares this year, the company said in a today in a Regulatory News Service statement. X5 didn't give more details on the sale or say what banks would manage it.
Read more at Bloomberg Emerging Markets News
X5 will sell the shares this year, the company said in a today in a Regulatory News Service statement. X5 didn't give more details on the sale or say what banks would manage it.
Read more at Bloomberg Emerging Markets News
German Stocks Rise; SAP, Deutsche Boerse and Bayer Lead the Gain
(Bloomberg) -- German stocks advanced, paced by SAP AG, Deutsche Boerse AG and Bayer AG.
The benchmark DAX Index rose 26.98, or 0.4 percent, to 7169.93 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.4 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index rose 26.98, or 0.4 percent, to 7169.93 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies climbed 0.4 percent.
Read more at Bloomberg Stocks News
Gold Gains in London as Dollar at Two-Year Low Versus Euro; Silver Drops
(Bloomberg) -- Gold gained in London as the dollar slumped to the lowest versus the euro in two years, prompting some investors to buy the metal as an alternative investment.
The dollar declined on speculation government data today will show a widening U.S. trade deficit. The deficit grew to $60 billion in February from $59.1 billion the previous month, according to a Bloomberg News survey. Gold and the dollar often trade in opposite directions. Last year, bullion climbed 23 percent while the U.S. currency slid 11 percent.
Read more at Bloomberg Commodities News
The dollar declined on speculation government data today will show a widening U.S. trade deficit. The deficit grew to $60 billion in February from $59.1 billion the previous month, according to a Bloomberg News survey. Gold and the dollar often trade in opposite directions. Last year, bullion climbed 23 percent while the U.S. currency slid 11 percent.
Read more at Bloomberg Commodities News
Copper May Decline Next Week on Chinese Import Speculation, Survey Shows
(Bloomberg) -- Copper may fall next week on speculation that China, the world's largest user, may slow imports of the metal in the three months to June after earlier price gains.
Nine of 17 people surveyed yesterday and April 11 forecast copper will drop next week. Six expected an increase and two were neutral. Copper for delivery in three months on the London Metal Exchange has gained 5.6 percent so far this week, taking the contract's gain in 12 months to 26 percent.
Read more at Bloomberg Commodities News
Nine of 17 people surveyed yesterday and April 11 forecast copper will drop next week. Six expected an increase and two were neutral. Copper for delivery in three months on the London Metal Exchange has gained 5.6 percent so far this week, taking the contract's gain in 12 months to 26 percent.
Read more at Bloomberg Commodities News
Dollar Declines to Two-Year Low on Speculation U.S. Trade Deficit Widened
(Bloomberg) -- The dollar slid to a two-year low versus the euro on speculation government data today will show a widening U.S. trade deficit.
``The report may spark concern whether the U.S. will be able to attract foreign investment to finance the shortfall,'' said Yuji Saito, a senior currency dealer at Societe Generale SA in Tokyo. ``It's a factor for selling the dollar.''
Read more at Bloomberg Currencies News
``The report may spark concern whether the U.S. will be able to attract foreign investment to finance the shortfall,'' said Yuji Saito, a senior currency dealer at Societe Generale SA in Tokyo. ``It's a factor for selling the dollar.''
Read more at Bloomberg Currencies News
Novartis not in acquisition talks now - paper
(Reuters) - "No, in that sense there is no concrete project at this time ... patience pays off, because an acquiring company runs the risk of paying too much if it acts too agitated," Chief Executive Daniel Vasella told Swiss newspaper Le Temps.
"But obviously we're always trying to find interesting acquisitions," he also said in the interview.
Read more at Reuters.com Market News
"But obviously we're always trying to find interesting acquisitions," he also said in the interview.
Read more at Reuters.com Market News
UPDATE 1-Pentax tells Hoya it will mull tender bid -source
(Reuters) - TOKYO, April 13 - Pentax Corp. told Hoya Corp. on Friday it plans to consider a tender offer bid as a possible scheme for their planned merger, a Pentax source told Reuters.
High-tech glass maker Hoya has been seeking to start a dialogue with Pentax after the camera maker decided to scrap an earlier share-swap merger plan that was announced in December, and it appointed a new president on Tuesday.
Read more at Reuters.com Mergers News
High-tech glass maker Hoya has been seeking to start a dialogue with Pentax after the camera maker decided to scrap an earlier share-swap merger plan that was announced in December, and it appointed a new president on Tuesday.
Read more at Reuters.com Mergers News
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