(Reuters) - Europe's largest computer consultancy said that in view of the high level of activity recorded in the quarter, it was raising its revenue growth target for 2007 by a percentage point.
Capgemini had so far forecast like-for-like revenue growth of 8 percent in 2007.
Read more at Reuters.com Market News
Wednesday, April 25, 2007
Capesize Ship Rates Rise to Record on China's Soaring Demand For Iron Ore
(Bloomberg) -- The cost of hiring Capesize bulkers, the largest type of ship that carries iron ore and coal, rose to a record on China's demand for raw materials.
The Baltic Capesize Index, a measure of rates on routes around the world, rose 1.8 percent yesterday to 8,953, passing the high of 8,911 reached on Dec. 7, 2004. The index has surged 50 percent this year. Capesize vessels carry as much as 175,000 tons of coal or iron ore.
Read more at Bloomberg Commodities News
The Baltic Capesize Index, a measure of rates on routes around the world, rose 1.8 percent yesterday to 8,953, passing the high of 8,911 reached on Dec. 7, 2004. The index has surged 50 percent this year. Capesize vessels carry as much as 175,000 tons of coal or iron ore.
Read more at Bloomberg Commodities News
Wesizwe to buy stake in JV for $93 mln
(Reuters) - South African platinum miner Wesizwe Platinum has agreed to buy a 26 percent stake in the Western Bushveld joint venture for 650 million rand, it said on Wednesday.
Wesizwe, the investment vehicle for South Africa's Bakubung Ba-Ratheo Tribe, said it would buy African Wide Mineral Prospecting and Exploration Ltd by issuing new shares.
Read more at Reuters Africa
Wesizwe, the investment vehicle for South Africa's Bakubung Ba-Ratheo Tribe, said it would buy African Wide Mineral Prospecting and Exploration Ltd by issuing new shares.
Read more at Reuters Africa
UPDATE 1-ABN AMRO to open books to RBS, Fortis, Santander
(Reuters) - ABN, which agreed earlier this week to a 65 billion-euro buyout deal with Barclays , said that RBS, Belgian-Dutch group Fortis and Spain's Santander could look at its books, subject to confidentiality agreements.
"Although the consortium has provided few additional details with respect to its proposals this decision is in line with ABN AMRO's on-going commitment to consider value-creating opportunities for shareholders," ABN said in a statement.
Read more at Reuters.com Market News
"Although the consortium has provided few additional details with respect to its proposals this decision is in line with ABN AMRO's on-going commitment to consider value-creating opportunities for shareholders," ABN said in a statement.
Read more at Reuters.com Market News
Weaker U.S. dollar, India buys lift gold
(Reuters) - "The metal's failure to decisively break the key resistances has knocked off the bullish sentiments, albeit marginally," said Pradeep Unni, analyst at Vision Commodity Services in Dubai.
"The rally is clearly running out of steam, and as far as things stand the market probably needs stronger motivating factors to scythe the psychologically important level of $700, which has of late become more of a level of self esteem for the bulls."
Read more at Reuters.com Hot Stocks News
"The rally is clearly running out of steam, and as far as things stand the market probably needs stronger motivating factors to scythe the psychologically important level of $700, which has of late become more of a level of self esteem for the bulls."
Read more at Reuters.com Hot Stocks News
Indian Bonds Fall on Speculation Yields Will Rise at Debt Sale Tomorrow
(Bloomberg) -- India's 10-year bonds snapped a two-day advance on speculation investors will demand higher yields at a government debt sale tomorrow.
The federal government will sell 60 billion rupees ($1.5 billion) of bonds tomorrow, taking the total amount of debt sold this month to 160 billion rupees. Bonds had posted the biggest two-day advance in two weeks after the central bank left its benchmark overnight lending rate unchanged at a quarterly policy meeting on April 24.
Read more at Bloomberg Bonds News
The federal government will sell 60 billion rupees ($1.5 billion) of bonds tomorrow, taking the total amount of debt sold this month to 160 billion rupees. Bonds had posted the biggest two-day advance in two weeks after the central bank left its benchmark overnight lending rate unchanged at a quarterly policy meeting on April 24.
Read more at Bloomberg Bonds News
Portman Says First-Quarter Sales Rise 53 Percent on Higher Prices, Output
(Bloomberg) -- Portman Ltd., Australia's third- largest iron-ore mining company, said first-quarter sales rose 53 percent as it shipped more of the steelmaking raw material at higher prices.
Sales rose to A$128 million ($107 million) for the three months ended March 31 from A$84 million a year ago, the Perth- based company said today in a statement to the Australian Stock Exchange. It sold 1.9 million tons of ore in the quarter, up from 1.5 million tons previously.
Read more at Bloomberg Commodities News
Sales rose to A$128 million ($107 million) for the three months ended March 31 from A$84 million a year ago, the Perth- based company said today in a statement to the Australian Stock Exchange. It sold 1.9 million tons of ore in the quarter, up from 1.5 million tons previously.
Read more at Bloomberg Commodities News
ABB, BASF, Christian Dior, DCX, Ericsson, Siemens: European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 climbed 0.6 percent to 387.80. The Dow Jones Stoxx 50 Index added 0.6 percent to 3875.78. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, advanced 0.8 percent to 4404.44.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 climbed 0.6 percent to 387.80. The Dow Jones Stoxx 50 Index added 0.6 percent to 3875.78. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, advanced 0.8 percent to 4404.44.
Read more at Bloomberg Stocks News
UPDATE 2-US House passes Iraq funds with 2008 withdrawal goal
(Reuters) - WASHINGTON, April 25 - Defying President George W. Bush's veto threat, the House of Representatives on Wednesday approved a bill providing new war funds while setting a timeline for the withdrawal of all U.S. combat troops from Iraq by March 31 next year.
By a mostly partisan vote of 218-208, the Democratic-led House narrowly approved the $124-billion emergency spending bill, ignoring Bush's promise to veto any bill that sets deadlines for withdrawing U.S. troops from Iraq.
Read more at Reuters.com Bonds News
By a mostly partisan vote of 218-208, the Democratic-led House narrowly approved the $124-billion emergency spending bill, ignoring Bush's promise to veto any bill that sets deadlines for withdrawing U.S. troops from Iraq.
Read more at Reuters.com Bonds News
South Korean Current Account Deficit Is at 11-Month High on Repatriation
(Bloomberg) -- South Korea's current account deficit widened to an 11-month high in March on increased dividend payments to offshore investors.
The nation's currency fell after the report showed the current account shortfall widened to $1.5 billion from a $426.8 million gap a year earlier. February's surplus was revised to $402 million, the Bank of Korea said in Seoul today.
Read more at Bloomberg Emerging Markets News
The nation's currency fell after the report showed the current account shortfall widened to $1.5 billion from a $426.8 million gap a year earlier. February's surplus was revised to $402 million, the Bank of Korea said in Seoul today.
Read more at Bloomberg Emerging Markets News
Show Us the Money: Royal Costs Under Fire as Malaysia Installs New King
(Bloomberg) -- Malaysian taxpayers are funding a lavish ceremony today to enthrone a new king. In five years' time, they will do it again.
Whoever succeeds the latest ruler, Tuanku Mizan Zainal Abidin, will settle into a $117 million palace the government is building in Kuala Lumpur. Malaysia's nine royal families, all subsidized by the state, take turns providing a constitutional monarch every five years.
Read more at Bloomberg Exclusive News
Whoever succeeds the latest ruler, Tuanku Mizan Zainal Abidin, will settle into a $117 million palace the government is building in Kuala Lumpur. Malaysia's nine royal families, all subsidized by the state, take turns providing a constitutional monarch every five years.
Read more at Bloomberg Exclusive News
JGBs track drop in Treasuries, eye 2-year auction
(Reuters) - Analysts said demand from Japanese banks at the start of the business year that kicked off this month should produce a solid result, though some investors may hesitate to buy before the Bank of Japan's twice-yearly economic outlook report on Friday.
"The auction should turn out to be good as not many expect the BOJ to hike rates in the next few months, and demand at the start of the business year will help," JGB analysts at Lehman Brothers said in a note to clients.
Read more at Reuters.com Bonds News
"The auction should turn out to be good as not many expect the BOJ to hike rates in the next few months, and demand at the start of the business year will help," JGB analysts at Lehman Brothers said in a note to clients.
Read more at Reuters.com Bonds News
Japan's Industrial Production Probably Rose on Exports to China, Europe
(Bloomberg) -- Japan's industrial production probably rose for a second month as demand from China and Europe encouraged manufacturers to step up output even as they anticipate a U.S. slowdown.
Production climbed a seasonally adjusted 0.9 percent in March, according to the median estimate of 41 economists surveyed by Bloomberg News. The trade ministry will release the report tomorrow at 8:50 a.m. in Tokyo.
Read more at Bloomberg Bonds News
Production climbed a seasonally adjusted 0.9 percent in March, according to the median estimate of 41 economists surveyed by Bloomberg News. The trade ministry will release the report tomorrow at 8:50 a.m. in Tokyo.
Read more at Bloomberg Bonds News
Cott adopts plan to protect from unsolicited bids
(Reuters) - Analysts have suggested that a buyer might consider acquiring Cadbury and Cott and combining their businesses.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Alcon first-quarter profit rises
(Reuters) - Excluding a charge related to the impairment of certain assets of the company's refractive laser product line, Alcon earned $1.21 per share. Analysts on average expected $1.16 per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Avaya posts higher 2nd-qtr profit; shares up
(Reuters) - SAN FRANCISCO, April 25 - Avaya Inc. posted higher quarterly profit on Wednesday as sales of its Internet telephone equipment rose, sending shares up 3.5 percent.
Avaya, a provider of equipment for Web-based telephone calls, said net income rose to $57 million, or 13 cents per share, for the second quarter ended March 31, from $38 million, or 8 cents per share, a year ago.
Read more at Reuters.com Market News
Avaya, a provider of equipment for Web-based telephone calls, said net income rose to $57 million, or 13 cents per share, for the second quarter ended March 31, from $38 million, or 8 cents per share, a year ago.
Read more at Reuters.com Market News
Canada Dollar Reaches 7-Month High on Rising Oil Prices, U.S. Rate Outlook
(Bloomberg) -- The Canadian dollar reached the highest in seven months, bolstered by a weakening U.S. dollar and increasing prices for commodities, which account for 54 percent of exports.
The currency was the strongest since Sept. 29 against the U.S. dollar after a U.S. government report showed new home sales rose less than economists expected last month, raising speculation the Federal Reserve may cut borrowing costs in the third quarter. The report also dropped the U.S. dollar to a record low against the euro.
Read more at Bloomberg Currencies News
The currency was the strongest since Sept. 29 against the U.S. dollar after a U.S. government report showed new home sales rose less than economists expected last month, raising speculation the Federal Reserve may cut borrowing costs in the third quarter. The report also dropped the U.S. dollar to a record low against the euro.
Read more at Bloomberg Currencies News
US STOCKS-Futures rise on profits, durable goods
(Reuters) - NEW YORK, April 25 - U.S. stock index futures pointed to a higher market opening on Wednesday, with the Dow poised to cross 13,000 after higher-than-expected earnings reports and data that calmed worries about the economy.
Specialty glass maker Corning Inc. and beverage and snack company PepsiCo Inc. were among the companies reporting profits that topped Wall Street estimates.
Read more at Reuters.com Bonds News
Specialty glass maker Corning Inc. and beverage and snack company PepsiCo Inc. were among the companies reporting profits that topped Wall Street estimates.
Read more at Reuters.com Bonds News
TREASURIES-Bond prices fall after strong durables data
(Reuters) - NEW YORK, April 25 - U.S. government bond prices fell on Wednesday, extending losses after a stronger-than-expected U.S. durable goods report reduced bond investors' expectations for future Federal Reserve interest rate cuts.
The durable goods report showed the closely watched nondefense capital goods orders excluding aircraft jumped 4.7 percent in March, the biggest rise since September 2004. The rise in that gauge, widely seen as reflecting business investment trends, was nearly triple economists' forecast rise.
Read more at Reuters.com Bonds News
The durable goods report showed the closely watched nondefense capital goods orders excluding aircraft jumped 4.7 percent in March, the biggest rise since September 2004. The rise in that gauge, widely seen as reflecting business investment trends, was nearly triple economists' forecast rise.
Read more at Reuters.com Bonds News
US STOCKS-Dow rises above 13,000 on earnings, Alcoa
(Reuters) - NEW YORK, April 25 - The Dow Jones industrial average charged through 13,000 on Wednesday, powered by higher-than-expected earnings reports and data that calmed worries about the economy.
Dow component Alcoa Inc. , the world's largest aluminum company, gave the blue-chip average an added bounce after saying it will explore strategic alternatives for several of its units, sending Alcoa's shares up 5.1 percent to $35.74.
Read more at Reuters.com Bonds News
Dow component Alcoa Inc. , the world's largest aluminum company, gave the blue-chip average an added bounce after saying it will explore strategic alternatives for several of its units, sending Alcoa's shares up 5.1 percent to $35.74.
Read more at Reuters.com Bonds News
Turkish Index Rises, Led by Erdemir on Bid Report: World's Biggest Mover
(Bloomberg) -- Turkish stocks climbed to an all- time high. Eregli Demir & Celik Fabrikalari TAS, the country's largest steelmaker, led gains after a newspaper said Arcelor Mittal may buy the company.
The ISE National 100 Index rose 1017.82, or 2.2 percent, to 48,032.72 in Istanbul, making the biggest move among equity markets included in global benchmarks. Seven shares gained for each one that fell.
Read more at Bloomberg Stocks News
The ISE National 100 Index rose 1017.82, or 2.2 percent, to 48,032.72 in Istanbul, making the biggest move among equity markets included in global benchmarks. Seven shares gained for each one that fell.
Read more at Bloomberg Stocks News
U.S. Stocks Rise on Earnings; Dow Average Surpasses 13,000 for First Time
(Bloomberg) -- The Dow Jones Industrial Average rose above 13,000 for the first time as U.S. stocks rallied on higher-than-estimated profits from Amazon.com Inc.
Shares of Amazon jumped the most in five years after the online retailer increased its full-year forecasts, boosting expectations corporate earnings projections are too low. C.H. Robinson Worldwide Inc., the largest U.S. arranger of freight shipments, also topped estimates. Alcoa Inc. was the Dow average's best performer after saying it may sell packaging and electronics units to focus on more profitable metal production.
Read more at Bloomberg Stocks News
Shares of Amazon jumped the most in five years after the online retailer increased its full-year forecasts, boosting expectations corporate earnings projections are too low. C.H. Robinson Worldwide Inc., the largest U.S. arranger of freight shipments, also topped estimates. Alcoa Inc. was the Dow average's best performer after saying it may sell packaging and electronics units to focus on more profitable metal production.
Read more at Bloomberg Stocks News
Colgate profit rise meets view; growth to continue
(Reuters) - Colgate, which is in the midst of a four-year restructuring announced in late 2004, also forecast additional savings and charges from that plan.
The maker of toothpaste, dish soap and other household products said Reuben Mark would step down as chief executive on July 1. Mark, who has been CEO since 1984, said last year that he planned to hand over the CEO post to President and Chief Operating Officer Ian Cook in mid-2007.
Read more at Reuters.com Business News
The maker of toothpaste, dish soap and other household products said Reuben Mark would step down as chief executive on July 1. Mark, who has been CEO since 1984, said last year that he planned to hand over the CEO post to President and Chief Operating Officer Ian Cook in mid-2007.
Read more at Reuters.com Business News
NY AG Cuomo--US Education Dept. "asleep at switch"
(Reuters) - Amid a widening conflict-of-interest scandal in the $85-billion student loan industry, Cuomo said, in prepared remarks to be given to a congressional committee, "The failure of the Department of Education to pass adequate regulations is disappointing and irresponsible."
He said: "Our investigation has revealed an unholy alliance between lenders and many trusted institutions of higher education ... Part of the reason the practices we have uncovered have been able to flourish nationwide over the past several years is because the U.S. Department of Education has been asleep at the switch."
Read more at Reuters.com Government Filings News
He said: "Our investigation has revealed an unholy alliance between lenders and many trusted institutions of higher education ... Part of the reason the practices we have uncovered have been able to flourish nationwide over the past several years is because the U.S. Department of Education has been asleep at the switch."
Read more at Reuters.com Government Filings News
Democrat says expect online gambling bill Thursday
(Reuters) - Frank, a Massachusetts Democrat, said he will introduce the legislation on Thursday.
Internet gambling in the United States was effectively banned last October when President George W. Bush signed legislation outlawing gaming financial transactions.
Read more at Reuters.com Government Filings News
Internet gambling in the United States was effectively banned last October when President George W. Bush signed legislation outlawing gaming financial transactions.
Read more at Reuters.com Government Filings News
New home sales rise 2.6 pct in March
(Reuters) - Analysts polled by Reuters were expecting March sales to rise to 888,000 from the previously reported rate of 848,000 units in February.
In March, the median sales price of a new home rose $2,200 to $254,000 from $251,800 in February.
Read more at Reuters.com Economic News
In March, the median sales price of a new home rose $2,200 to $254,000 from $251,800 in February.
Read more at Reuters.com Economic News
Motorola invests in wireless badges supplier
(Reuters) - Vocera's system connects a lightweight wearable voice controlled badge that connects to Wi-Fi, short-range wireless networks used within buildings and in public places.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
ConocoPhillips First-Quarter Profit Rises 7.7 Percent on Asset-Sales Gain
(Bloomberg) -- ConocoPhillips, the third-largest U.S. oil company, said first-quarter net income rose 7.7 percent after gains on asset sales made up for declines in energy prices and rising costs.
Profit climbed to $3.55 billion from $3.29 billion a year earlier, Houston-based ConocoPhillips said today in a statement. Earnings per share fell to $2.12 from $2.34 after last year's $35 billion purchase of Burlington Resources Inc. increased the amount of stock outstanding.
Read more at Bloomberg Energy News
Profit climbed to $3.55 billion from $3.29 billion a year earlier, Houston-based ConocoPhillips said today in a statement. Earnings per share fell to $2.12 from $2.34 after last year's $35 billion purchase of Burlington Resources Inc. increased the amount of stock outstanding.
Read more at Bloomberg Energy News
Ryder quarterly profit rises
(Reuters) - On average, Wall Street analysts had forecast earnings of 82 cents a share on sales of $1.55 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Unisys posts small profit, plans more job cuts
(Reuters) - The company also said it would cut 950 jobs in the United States and United Kingdom, extending a layoff program begun at the end of 2005 that had previously eliminated 5,600 positions.
The company reported first-quarter net income of $3.6 million, or 1 cent a share, compared with a year-earlier loss of $27.9 million, or 8 cents a share.
Read more at Reuters.com Market News
The company reported first-quarter net income of $3.6 million, or 1 cent a share, compared with a year-earlier loss of $27.9 million, or 8 cents a share.
Read more at Reuters.com Market News
UPDATE1-United Bankshares expects Q1 earnings of $0.59/share
(Reuters) - Analysts on average expect the company to earn 60 cents a share, excluding items, according to Reuters Estimates.
The bank said it plans to report its first quarter results on May 1. It was delayed due to the additional time needed to analyze the potential early adoption of statement of financial standards relating to the fair value option for financial assets and financial liabilities, the company said.
Read more at Reuters.com Market News
The bank said it plans to report its first quarter results on May 1. It was delayed due to the additional time needed to analyze the potential early adoption of statement of financial standards relating to the fair value option for financial assets and financial liabilities, the company said.
Read more at Reuters.com Market News
Diebold posts first-quarter net loss on charge
(Reuters) - NEW YORK, April 25 - Diebold Inc. , a maker of automated teller machines, posted a first-quarter net loss on Wednesday as it took a restructuring charge related to the closing of a plant in France.
The North Canton, Ohio, company reported a net loss of $5.9 million, or 9 cents a share, compared with net income of $12.7 million, or 18 cents a share, a year earlier.
Read more at Reuters.com Market News
The North Canton, Ohio, company reported a net loss of $5.9 million, or 9 cents a share, compared with net income of $12.7 million, or 18 cents a share, a year earlier.
Read more at Reuters.com Market News
Colgate profit up, Mark leaving CEO post in July
(Reuters) - CHICAGO, April 25 - Colgate-Palmolive Co. posted a higher first-quarter profit on Wednesday, driven by strong sales of products such as Colgate Total toothpaste, and said Reuben Mark would step down as chief executive on July 1.
Mark, who has been CEO since 1984, said last year that he planned to hand over the CEO post to President and Chief Operating Officer Ian Cook in mid-2007.
Read more at Reuters.com Market News
Mark, who has been CEO since 1984, said last year that he planned to hand over the CEO post to President and Chief Operating Officer Ian Cook in mid-2007.
Read more at Reuters.com Market News
United Air parent posts quarterly loss
(Reuters) - CHICAGO, April 25 - UAL Corp. , parent of No. 2 U.S. carrier United Airlines, reported a quarterly loss on Wednesday due in part to weather-related flight cancellations.
UAL said its loss amounted to $152 million, or $1.32 per share, compared with a year-ago profit that was exaggerated by bankruptcy reorganization items.
Read more at Reuters.com Market News
UAL said its loss amounted to $152 million, or $1.32 per share, compared with a year-ago profit that was exaggerated by bankruptcy reorganization items.
Read more at Reuters.com Market News
Rand breaks 7 vs dollar mark, near-4-month high
(Reuters) - South Africa's rand briefly breached the key 7 to the dollar psychological level on Wednesday, hitting a near-four-month high.
At 1300 GMT the local unit was at 7.0030 against the greenback, after touching 6.9950 minutes earlier, its strongest level since January 4.
Read more at Reuters Africa
At 1300 GMT the local unit was at 7.0030 against the greenback, after touching 6.9950 minutes earlier, its strongest level since January 4.
Read more at Reuters Africa
UPS profit falls due to aircraft, layoff charges
(Reuters) - The Atlanta-based company reported net income of $1.36 billion, or 78 cents a share, compared with $1.56 billion, or 89 cents a share, a year earlier.
Excluding the one-time charges, earnings were 96 cents a share, in line with analysts' average forecast as compiled by Reuters Estimates.
Read more at Reuters.com Business News
Excluding the one-time charges, earnings were 96 cents a share, in line with analysts' average forecast as compiled by Reuters Estimates.
Read more at Reuters.com Business News
EnCana, Aastra, Montreal Exchange, Toronto-Dominion: Canada Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed yesterday. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index lost 38.64, or 0.3 percent, to 13,590.33, yesterday in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index lost 38.64, or 0.3 percent, to 13,590.33, yesterday in Toronto.
Read more at Bloomberg Stocks News
Glaxo sees "a chance" of Cervarix priority review
(Reuters) - "This is a bit of a unique situation because, on the one hand, ) Gardasil is on the market, so there is no reason on that count for an accelerated review, but on the other hand we have some unique characteristics for this vaccine."
Glaxo hopes to launch Cervarix in Europe and international markets this year but analysts say it will only get to market in the United States later, unless the FDA grants a priority review.
Read more at Reuters.com Government Filings News
Glaxo hopes to launch Cervarix in Europe and international markets this year but analysts say it will only get to market in the United States later, unless the FDA grants a priority review.
Read more at Reuters.com Government Filings News
FACTBOX-ABN AMRO gets rival approach that tops agreed bid
(Reuters) - Following are some key points from the rival proposals:
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
European Government Bonds Fall as German Confidence Rises for Second Month
(Bloomberg) -- European government bonds dropped for the first day in three after a survey showed business confidence in Germany climbed for a second month in April, adding to expectations of higher interest rates in the euro region.
Benchmark 10-year yields rose to near their highest in more than 2 1/2 years on evidence Europe's largest economy is expanding. Germany's Ifo institute said its gauge of business sentiment rose to 108.6 from 107.7 in March. Economists surveyed by Bloomberg News had expected a gain to 107.9.
Read more at Bloomberg Bonds News
Benchmark 10-year yields rose to near their highest in more than 2 1/2 years on evidence Europe's largest economy is expanding. Germany's Ifo institute said its gauge of business sentiment rose to 108.6 from 107.7 in March. Economists surveyed by Bloomberg News had expected a gain to 107.9.
Read more at Bloomberg Bonds News
Harmony Gold's Profit Before One-Time Items Climbs 33 Percent on Prices
(Bloomberg) -- Harmony Gold Mining Co., Africa's third-largest gold producer, posted a better-than-expected 33 percent increase in quarterly profit before one-time items after the bullion price rose.
Profit on that basis climbed to 233 million rand ($33.2 million), or 61 cents a share, in the three months to March 31, beating the 58 cents median forecast of five analysts surveyed by Bloomberg. Sales rose 1.1 percent to 2.74 billion rand.
Read more at Bloomberg Emerging Markets News
Profit on that basis climbed to 233 million rand ($33.2 million), or 61 cents a share, in the three months to March 31, beating the 58 cents median forecast of five analysts surveyed by Bloomberg. Sales rose 1.1 percent to 2.74 billion rand.
Read more at Bloomberg Emerging Markets News
Chambishi CEO says cobalt target unchanged by blast
(Reuters) - An explosion that temporarily disrupted work at Chambishi Metals' cobalt mine in Zambia will not affect its 2007 production target, Chief Executive Officer Derek Webbstock said on Wednesday.
Operations at Chambishi, the largest cobalt producer in the southern African nation, were suspended for about 11 hours on Monday following a blast at its smelter, which injured four miners.
Read more at Reuters Africa
Operations at Chambishi, the largest cobalt producer in the southern African nation, were suspended for about 11 hours on Monday following a blast at its smelter, which injured four miners.
Read more at Reuters Africa
Arkansas Best 1st-qtr profit falls
(Reuters) - NEW YORK, April 25 - Trucking company Arkansas Best Corp. said on Wednesday its first-quarter net profit fell 21.3 percent, hurt by lower sales at its key ABF Freight System unit.
The Fort Smith, Arkansas-based company reported net income of $4.8 million, or 19 cents a share, compared with $6.1 million, or 24 cents a share, a year earlier.
Read more at Reuters.com Market News
The Fort Smith, Arkansas-based company reported net income of $4.8 million, or 19 cents a share, compared with $6.1 million, or 24 cents a share, a year earlier.
Read more at Reuters.com Market News
UPDATE 2-Reuters Q1 underlying revenue rises 6.5 pct
(Reuters) - LONDON, April 25 - Financial information and news provider Reuters Group posted a higher-than-forecast rise in first-quarter underlying revenue, but said actual revenue fell by 1.1 percent due largely to a weaker dollar.
Reuters said on Wednesday first-quarter revenue was 626 million pounds , compared with 633 million pounds a year ago.
Read more at Reuters.com Bonds News
Reuters said on Wednesday first-quarter revenue was 626 million pounds , compared with 633 million pounds a year ago.
Read more at Reuters.com Bonds News
European Government Bonds Fall as Ifo Confidence Index Rises for 2nd Month
(Bloomberg) -- European government bonds dropped for the first day in three after a survey showed business confidence in Germany climbed for a second month in April.
Benchmark European debt advanced last week as the euro's gain versus the dollar stoked concern about growth in the $10.4 trillion euro region economy. Germany's Ifo institute said its gauge of business sentiment in Europe's biggest economy rose to 108.6 from 107.7 in March. Economists surveyed by Bloomberg News had expected a gain to 107.9.
Read more at Bloomberg Bonds News
Benchmark European debt advanced last week as the euro's gain versus the dollar stoked concern about growth in the $10.4 trillion euro region economy. Germany's Ifo institute said its gauge of business sentiment in Europe's biggest economy rose to 108.6 from 107.7 in March. Economists surveyed by Bloomberg News had expected a gain to 107.9.
Read more at Bloomberg Bonds News
South African Rand Holds Near Four-Month High on Outlook for Inflation
(Bloomberg) -- The South African rand traded near its highest in almost four months on speculation a report showing quickening inflation will prompt the central bank to resume raise interest rates, boosting the appeal of local assets.
The currency has risen 2.6 percent in the past month and last week traded above 7 per dollar for the first time since Jan. 4, buoyed partly by speculation higher rates may prompt investors to continue with so-called carry trades. Inflation probably quickened to 5.5 percent last month, from 4.9 percent in February, according to a Bloomberg News survey of economists.
Read more at Bloomberg Currencies News
The currency has risen 2.6 percent in the past month and last week traded above 7 per dollar for the first time since Jan. 4, buoyed partly by speculation higher rates may prompt investors to continue with so-called carry trades. Inflation probably quickened to 5.5 percent last month, from 4.9 percent in February, according to a Bloomberg News survey of economists.
Read more at Bloomberg Currencies News
China Funds' Assets Exceed 1 Trillion Yuan as Stocks Boom, Researcher Says
(Bloomberg) -- China's mutual fund assets jumped 33 percent to more than a trillion yuan in the first quarter as a surging stock market encouraged investors to pour savings into equities, an industry researcher said.
Total assets at Chinese funds grew 33 percent to 1.14 trillion yuan ($148 billion) in the three months to March 31 from 856.45 billion yuan the previous quarter, Shanghai-based Z- Ben Advisors Ltd. said in an e-mailed report that was received today. The benchmark CSI 300 Index jumped 36 percent during the period, after more than doubling in 2006.
Read more at Bloomberg Stocks News
Total assets at Chinese funds grew 33 percent to 1.14 trillion yuan ($148 billion) in the three months to March 31 from 856.45 billion yuan the previous quarter, Shanghai-based Z- Ben Advisors Ltd. said in an e-mailed report that was received today. The benchmark CSI 300 Index jumped 36 percent during the period, after more than doubling in 2006.
Read more at Bloomberg Stocks News
UPDATE 1-Baker Hughes first-quarter profit rises
(Reuters) - Baker Hughes said its quarterly profit was $374.7 million, or $1.17 a diluted share, up from $339.2 million, or 99 cents a diluted share, in the same quarter a year earlier.
Analysts on average had expected a profit of $1.10 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected a profit of $1.10 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
U.K.'s FTSE 100 Index Gains; Sainsbury Shares Surge After Large Trade
(Bloomberg) -- The U.K.'s FTSE 100 Index gained. Shares in J Sainsbury Plc, a U.K. supermarket chain, surged.
The benchmark FTSE 100 rose 22.3, or 0.4 percent, to 6451.80 at 8:14 a.m. in London.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 rose 22.3, or 0.4 percent, to 6451.80 at 8:14 a.m. in London.
Read more at Bloomberg Stocks News
UPDATE 1-Taiwan Siliconware's Q1 net up, sees sales rising
(Reuters) - Siliconware Precision Industries Co. Ltd. also expected operating margins at 23-25 percent in the second quarter, but average selling prices to fall slightly from the first quarter.
The firm earned a net profit of T$3.83 billion for the January-March quarter, up from T$2.82 billion a year earlier and T$3.877 billion in the previous three months.
Read more at Reuters.com Market News
The firm earned a net profit of T$3.83 billion for the January-March quarter, up from T$2.82 billion a year earlier and T$3.877 billion in the previous three months.
Read more at Reuters.com Market News
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