(Bloomberg) -- General Motors Corp. and Ford Motor Co. probably will say U.S. sales fell in April as rising gasoline prices reduced consumer demand for new cars.
Sales declined 3 percent from a year earlier for GM, 9.7 percent for Ford and 2.2 percent for DaimlerChrysler AG's Chrysler, according to the average adjusted estimates of six analysts in a Bloomberg survey. Toyota Motor Corp. may report little change in sales, said Ronald Tadross, a Banc of America Securities auto analyst.
Read more at Bloomberg Bonds News
Sunday, April 29, 2007
Corn May Rise as Pace of U.S. Planting Slows on Rains; Soybeans May Drop
(Bloomberg) -- Corn may rise in Chicago as rain further delays U.S. plantings that already are 50 percent behind the pace of the previous five years. Soybeans may fall as U.S. farmers sow more of the crop on freeze-damaged wheat fields.
Fifteen of 27 traders, farm advisers and merchants surveyed on April 27 said to buy corn after prices rose 0.5 percent to $3.7375 a bushel last week on the Chicago Board of Trade. Fourteen said to sell soybeans, which fell 0.2 percent to $7.385 a bushel, the fifth straight weekly drop.
Read more at Bloomberg Commodities News
Fifteen of 27 traders, farm advisers and merchants surveyed on April 27 said to buy corn after prices rose 0.5 percent to $3.7375 a bushel last week on the Chicago Board of Trade. Fourteen said to sell soybeans, which fell 0.2 percent to $7.385 a bushel, the fifth straight weekly drop.
Read more at Bloomberg Commodities News
Asia exporters down
(Reuters) - With Tokyo markets closed for a holiday and many financial markets gearing up for a shutdown later in the week, Asian trading was subdued, and bourses failed to extend the record levels they set last week despite an all-time high for the Dow on Friday.
Exporters fell, with South Korea's Samsung Electronics down 1.2 percent. Hong Kong's Hang Seng shed 1.0 percent and MSCI's index of non-Japan Asian shares was 0.4 percent lower at 0245
Read more at Reuters.com Hot Stocks News
Exporters fell, with South Korea's Samsung Electronics down 1.2 percent. Hong Kong's Hang Seng shed 1.0 percent and MSCI's index of non-Japan Asian shares was 0.4 percent lower at 0245
Read more at Reuters.com Hot Stocks News
BAE, Barclays, Dana, 888, Marston's, Sainsbury: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from the April 27 close.
The benchmark FTSE 100 Index fell 50.7, or 0.8 percent, to close at 6418.7 in London as 23 stocks rose, 76 fell and 3 were unchanged. The FTSE All-Share Index lost 23.09, or 0.7 percent, to 3341.43.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index fell 50.7, or 0.8 percent, to close at 6418.7 in London as 23 stocks rose, 76 fell and 3 were unchanged. The FTSE All-Share Index lost 23.09, or 0.7 percent, to 3341.43.
Read more at Bloomberg Stocks News
Brightpoint, Coca-Cola, Harley-Davidson, Southwest Gas: U.S. Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges tomorrow. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names.
American Real Estate Partners LP (ACP US): Shares of the holding company controlled by Carl Icahn are overvalued with the 69 percent premium the stock carries, Barron's reported, without citing anyone. The company is worth about $65 a share, compared with the closing price of $108.51 on April 27, Barron's said. The stock fell 49 cents to $108.51.
Read more at Bloomberg Stocks News
American Real Estate Partners LP (ACP US): Shares of the holding company controlled by Carl Icahn are overvalued with the 69 percent premium the stock carries, Barron's reported, without citing anyone. The company is worth about $65 a share, compared with the closing price of $108.51 on April 27, Barron's said. The stock fell 49 cents to $108.51.
Read more at Bloomberg Stocks News
Copper in Shanghai Rises on Dollar Weakness; Aluminum Advances; Zinc Drops
(Bloomberg) -- Copper in Shanghai rose on speculation a fall in the dollar may encourage buyers in China and Europe to purchase the metal used to make wires and pipes.
The dollar dropped to an all-time low against the euro on April 27 after a government report showed the U.S. economy grew at the slowest pace in four years. The depreciation makes copper, traded in dollars, less expensive for buyers using other currencies. The U.S. currency has fallen 3.8 percent against the yuan in the past year as copper rose 1.7 percent in Shanghai.
Read more at Bloomberg Commodities News
The dollar dropped to an all-time low against the euro on April 27 after a government report showed the U.S. economy grew at the slowest pace in four years. The depreciation makes copper, traded in dollars, less expensive for buyers using other currencies. The U.S. currency has fallen 3.8 percent against the yuan in the past year as copper rose 1.7 percent in Shanghai.
Read more at Bloomberg Commodities News
London Sumatra Says First-Quarter Profit Advances 46 Percent as Sales Gain
(Bloomberg) -- PT Perusahaan Perkebunan London Sumatra Indonesia, which runs rubber and oil palm plantations in the Southeast Asian nation, said first-quarter profit rose 46 percent as sales rose and costs declined.
The company, based in Jakarta, earned 91.3 billion rupiah ($10.1 million), or 71 rupiah a share, compared with 62.5 billion rupiah, or 51 rupiah a share, a year earlier, it said on its Web site. Sales rose 5.7 percent to 534.28 billion rupiah.
Read more at Bloomberg Commodities News
The company, based in Jakarta, earned 91.3 billion rupiah ($10.1 million), or 71 rupiah a share, compared with 62.5 billion rupiah, or 51 rupiah a share, a year earlier, it said on its Web site. Sales rose 5.7 percent to 534.28 billion rupiah.
Read more at Bloomberg Commodities News
Russia's Day Traders Pile in to Stocks as Gains Slow After Six-Year Rally
(Bloomberg) -- Speculators are increasing their purchases of Russian stocks just as six years of gains grind to a halt in the world's second-largest emerging market.
Day traders, who seek instant profits from stock price fluctuations, on Russia's Micex Stock Exchange have more than doubled in the past 16 months, said Chief Executive Officer Alexei Rybnikov. Purchases and sales of less than 100,000 rubles ($3,890) by individuals make up 60 percent of trades on the Micex, compared with 4.6 percent of trading on the New York Stock Exchange.
Read more at Bloomberg Stocks News
Day traders, who seek instant profits from stock price fluctuations, on Russia's Micex Stock Exchange have more than doubled in the past 16 months, said Chief Executive Officer Alexei Rybnikov. Purchases and sales of less than 100,000 rubles ($3,890) by individuals make up 60 percent of trades on the Micex, compared with 4.6 percent of trading on the New York Stock Exchange.
Read more at Bloomberg Stocks News
Bernanke Is Wrong on Inflation, Interest Rates, Goldman, Merrill, UBS Say
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's assertion that interest rates may need to increase to curb inflation is wrong. That's what Goldman Sachs Group Inc., Merrill Lynch & Co. and UBS AG are saying.
While Bernanke warned last month that the odds of worsening inflation have increased, chief economists at the three firms say the worst housing slump in a decade may drive the U.S. economy into a recession and stifle consumer prices. Their chief economists say the Fed will cut its target for overnight loans between banks at least three times this year.
Read more at Bloomberg Currencies News
While Bernanke warned last month that the odds of worsening inflation have increased, chief economists at the three firms say the worst housing slump in a decade may drive the U.S. economy into a recession and stifle consumer prices. Their chief economists say the Fed will cut its target for overnight loans between banks at least three times this year.
Read more at Bloomberg Currencies News
Qantas bid group says has 12.57 percent voting power
(Reuters) - Shareholder acceptances including a facility where institutions can accept but retain the right to withdraw were at 25.51 percent.
However, this was down 27.8 percent last week as some fund managers sold shares in the open market to benefit from strength in the Australian dollar, sources close to the bid said.
Read more at Reuters.com Business News
However, this was down 27.8 percent last week as some fund managers sold shares in the open market to benefit from strength in the Australian dollar, sources close to the bid said.
Read more at Reuters.com Business News
South Korean Stocks Fall for Second Day; Samsung, L.G. Philips LCD Decline
(Bloomberg) -- South Korean stocks fell for a second day. Samsung Electronics Co. slid after U.S. economic growth cooled to the slowest in four years, raising concern exporters' overseas earnings will decrease.
The Kospi index slid 7.49, or 0.5 percent, to 1535.03 as of 9:18 a.m. in Seoul. The Kosdaq added 0.1 percent to 676.31. Kospi 200 futures expiring in June retreated 0.3 percent to 198.85, while the underlying index lost 0.4 percent to 197.48.
Read more at Bloomberg Stocks News
The Kospi index slid 7.49, or 0.5 percent, to 1535.03 as of 9:18 a.m. in Seoul. The Kosdaq added 0.1 percent to 676.31. Kospi 200 futures expiring in June retreated 0.3 percent to 198.85, while the underlying index lost 0.4 percent to 197.48.
Read more at Bloomberg Stocks News
UPDATE 1-BCE to complete review in Q3, may privatize
(Reuters) - Montreal-based BCE, which owns Bell Canada -- the country's largest telephone company -- has a market capitalization of about C$30 billion .
BCE previously said it was in talks with U.S. private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL] and three big Canadian pension funds that could lead to taking the company private in Canada's biggest buyout. BCE said it would consider other alternatives as well.
Read more at Reuters.com Mergers News
BCE previously said it was in talks with U.S. private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL] and three big Canadian pension funds that could lead to taking the company private in Canada's biggest buyout. BCE said it would consider other alternatives as well.
Read more at Reuters.com Mergers News
EDF Energy Follows Rivals, Cuts Domestic Gas Rate to Win U.K. Customers
(Bloomberg) -- EDF Energy, the U.K. unit of Electricite de France SA, today said it will cut its price rates for domestic gas customers.
The gas prices will be reduced by 10.2 percent for customers using the standard gas tariffs as of June 15, the company said in e-mailed statement. Its electricity rates will remain unchanged.
Read more at Bloomberg Energy News
The gas prices will be reduced by 10.2 percent for customers using the standard gas tariffs as of June 15, the company said in e-mailed statement. Its electricity rates will remain unchanged.
Read more at Bloomberg Energy News
New Zealand Dollar May Gain on High Rates, Prospect of Further Increases
(Bloomberg) -- The New Zealand dollar may rise as investors are attracted to the nation's higher-yielding assets and the prospect the central bank may have to boost interest rates again this year.
New Zealand home-building approvals may have risen in March, adding to concern the central bank hasn't managed to temper consumer demand for housing with two increases to the benchmark interest rate so far this year. Statistics New Zealand releases the figures at 10:45 a.m. The local currency gained 16 percent over the past 12 months, spurred by the nation's record 7.75 percent official cash rate.
Read more at Bloomberg Currencies News
New Zealand home-building approvals may have risen in March, adding to concern the central bank hasn't managed to temper consumer demand for housing with two increases to the benchmark interest rate so far this year. Statistics New Zealand releases the figures at 10:45 a.m. The local currency gained 16 percent over the past 12 months, spurred by the nation's record 7.75 percent official cash rate.
Read more at Bloomberg Currencies News
Gary-Williams Refinery in Oklahoma Operating After Blaze, Fire Chief Says
(Bloomberg) -- Gary-Williams Energy Co.'s refinery in Wynnewood, Oklahoma, is operating after a fire in two storage tanks was extinguished, Wynnewood's fire chief said.
``They didn't shut completely down,'' Fire Chief Chris Mallow said in a telephone interview. ``There wasn't any damage to the plant other than those two storage tanks.''
Read more at Bloomberg Energy News
``They didn't shut completely down,'' Fire Chief Chris Mallow said in a telephone interview. ``There wasn't any damage to the plant other than those two storage tanks.''
Read more at Bloomberg Energy News
Tadiran to delist after Elbit buys remaining shrs
(Reuters) - Elbit, which already owned a 43 percent stake in Tadiran, bought an additional 51.16 percent or 6,690,801 of the company's shares in a cash tender offer to shareholders on Thursday.
Elbit paid 210 shekels per share or a total of 1.4 billion shekels after raising its offer from 186 shekels.
Read more at Reuters.com Mergers News
Elbit paid 210 shekels per share or a total of 1.4 billion shekels after raising its offer from 186 shekels.
Read more at Reuters.com Mergers News
RPT-UPDATE 4-Pirelli sells T.Italia control to Telefonica, banks
(Reuters) - MILAN/MADRID, April 28 - Italy's Pirelli sold its Telecom Italia on the investment it made 6 years ago.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
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