Euronext Q1 profit dips 4.4 percent

(Reuters) - Excluding interest, taxes and amortisation, Euronext said it
had a profit of 144.6 million, up 31.7 percent from a year
earlier.




Euronext said a week ago that it posted a 15.6 percent rise
in sales in the first quarter of 2007 to 310.1 million euros.


Read more at Reuters.com Mergers News

Tata Power Seeks $950 Million Loans for Indonesia Mine Stakes, People Say

(Bloomberg) -- Tata Power Co., India's second-biggest
utility by annual sales, will borrow $950 million to fund its
purchase of stakes in two Indonesian coal mines, according to
three people involved in the transaction.

The Mumbai-based company has hired Calyon to arrange a $600
million loan, which will be secured by the coal mines, and a $350
million loan, guaranteed by Tata Power, said the people who
didn't want to be identified before an announcement by the
borrower. Calyon is marketing the loans to other banks, they said.


Read more at Bloomberg Bonds News

Brent oil near 9-month high on Nigeria, US gasoline

(Reuters) - Brent crude oil steadied over $70 a barrel on Tuesday after rallying to a 9-month high the previous day as more violence in Nigeria heightened worries of further disruptions to supplies.

Benchmark London Brent crude was up 2 cents at $70.51 a barrel by 0200 GMT, after surging $1.07 on Monday on news of an attack on a Nigerian oilfield. U.S. crude was down 2 cents at $66.25, after gaining $1.33 on Monday.


Read more at Reuters Africa

Singapore Airlines May Be Close to China Eastern Stake Deal; Shares Halted

(Bloomberg) -- Singapore Airlines Ltd. may be close
to announcing plans to buy a stake in China Eastern Airlines
Corp., the nation's third-largest carrier, to tap China's rising
travel demand.

``We have a major issue'' to disclose, Luo Zhuping, China
Eastern's board secretary, said by phone today. Singapore
Airlines will make an announcement, spokesman Stephen Forshaw
said in a telephone text message. Shares of both carriers were
suspended from trading.


Read more at Bloomberg Emerging Markets News

Tesco Union Members Calls for Strike Ballot to Support Scottish Drivers

(Bloomberg) -- Tesco Plc union members are calling
for a ballot on strike action in support of Scottish drivers of
the supermarket company.

The Transport and General Workers branch of the Unite union
says it will call a ballot of drivers at Tesco's U.K.
distribution depots in support of 150 drivers at a Scottish depot
who already plan to strike from May 24 to 26 over changes to pay
and working conditions.


Read more at Bloomberg Bonds News

Emap, Kingston, Yell, Care U.K., Topps Tiles: 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 yesterday's market close.

The benchmark FTSE 100 Index fell 4.10, or 0.1 percent, to
close at 6636.80 in London as 34 stocks rose, 66 fell and 2 were
unchanged. The FTSE All-Share Index lost 1.40, or 0.04 percent,
to 3448.29.


Read more at Bloomberg Stocks News

Philippine Peso Rises Most in 10 Months on Arroyo's Comments; Bonds Slump

(Bloomberg) -- The Philippine peso rose the most in
10 months after President Gloria Arroyo said the currency's
strength is helping keep inflation low.

The peso advanced for an eighth day as the benchmark stock
index climbed to a record. Arroyo's comments today came after
central bank Governor Amando Tetangco also said yesterday that a
strong peso helps achieve price stability.


Read more at Bloomberg Currencies News

Indonesia's Rupiah Rises to Three-Year High Before Government Bond Auction

(Bloomberg) -- The Indonesian rupiah extended gains
to a three-year high against the dollar on speculation overseas
investors brought in funds to participate in a bond auction today.

Indonesia will sell 3 trillion rupiah ($343 million) of 20-
and 30-year bonds to help fund the budget deficit, according to a
Finance Ministry announcement on May 15.


Read more at Bloomberg Emerging Markets News

Indonesian Rupiah Rises to Three-Year High Before 20, 30-Year Bond Auction

(Bloomberg) -- The Indonesian rupiah extended gains
to a three-year high against the dollar on speculation overseas
investors brought in funds to participate in a bond auction today.

Indonesia will sell 3 trillion rupiah ($343 million) of 20-
and 30-year bonds to help fund the budget deficit, according to a
Finance Ministry announcement on May 15.


Read more at Bloomberg Currencies News

Singapore Dollar Declines to Weakest in Two Months on Lower Interest Rates

(Bloomberg) -- The Singapore dollar dropped to the
weakest in two months as the island's lower interest rates made
local assets less attractive.

Demand for the currency has decreased as lower rates cut
returns on local dollar-denominated deposits and other securities.
The city-state's three-month interbank rate at which banks lend
to each other fell to 2.375 percent, the least since October 2005,
compared with 5.36 percent on U.S. dollar-denominated deposits.


Read more at Bloomberg Currencies News

South Korea's Won Rises as Investors Buy Stocks; Bonds Are Little Changed

(Bloomberg) -- South Korea's won strengthened for a
second day as a gain in the benchmark index to a record boosted
speculation overseas investors will buy more equities.

Demand for the won has increased as international investors
purchased $2.58 billion more Korean shares than they sold this
quarter, more than 10 times the net purchases in the first
quarter, according to stock exchange data. That helped boost the
currency to a four-month high, raising speculation the central
bank would sell won to help exporters.


Read more at Bloomberg Currencies News

Thailand Central Bank Probably Will Cut Key Rate for Fourth Time This Year

(Bloomberg) -- Thailand's central bank will probably cut
its benchmark interest rate for a fourth time this year as it tries
to revive a slowing economy.

The Bank of Thailand will lower its one-day bond repurchase
rate to 3.5 percent from 4 percent, according to 12 of 16 economists
surveyed by Bloomberg News. The other economists in the poll expect
a quarter point cut. The decision is due to be announced at 2:30 p.m.
tomorrow in Bangkok.


Read more at Bloomberg Bonds News

Trump Casino buyer may be good for business-Taubman

(Reuters) - His company has a shopping mall close to the Trump Plaza
casino in the seaside resort town.




"Anything that simplifies the structure will allow
significant reinvestment to occur, and that is the key because
any reinvestment in that asset will show tremendous return,"
Taubman Chief Executive Officer Robert Taubman told Reuters.


Read more at Reuters.com Mergers News

Conrad Black trial focuses on tony New York flat

(Reuters) - "I relayed to him shareholders' concerns the appearance of having a luxury apartment," Paul Healy said.




"I said for a company that had limited cash flow -- which was about $100 million at that point -- I said it seemed excessive," he added.


Read more at Reuters.com Bonds News

Apollo Group posts lower quarterly earnings

(Reuters) - Excluding items, earnings were 44 cents a share.




Analysts, on average, expected earnings of 73 cents a share, excluding items, on revenue of $696.7 million, according to Reuters Estimates.


Read more at Reuters.com Business News

DCP Midstream to acquire Momentum Energy Group

(Reuters) - DCP Midstream LLC owns the general partner of the DCP
Midstream Partners, which has agreed to privately place $100
million of common units, representing limited partner interests
in the partnership.





Read more at Reuters.com Mergers News

UPDATE 1-US, China ex-im banks sign export finance deal

(Reuters) - WASHINGTON, May 21 - The export-import banks of
the United States and China signed a pair of financing
agreements on Monday to boost U.S. exports to China, on the eve
of high-level economic talks between the two countries.




The Bush administration, which is under pressure from
Congress to show results from this week's meeting, hailed the
agreements as a "sign post" of closer economic ties between the
two countries.


Read more at Reuters.com Bonds News

Baoshan Iron, BHP Billiton, RHB, Leighton: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Chinese steelmakers: The government will impose taxes of as
much as 10 percent on exports of steel products and steel slabs,
pig iron, the Ministry of Finance said in a statement on its Web
site. Baoshan Iron & Steel Co. (600019 CH), China's biggest
steelmaker, slipped 0.01 yuan, or 0.1 percent, to 13. Wuhan Iron
& Steel Co. (600005 CH), China's fifth-biggest steelmaker by
output, added 0.29 yuan, or 2.3 percent, to 13.09.


Read more at Bloomberg Stocks News

CVS to sell year's largest US corporate bond deal

(Reuters) - The largest U.S. drugstore chain by number of stores,
CVS/Caremark is selling debt to help pay down a credit line
used for the merger of CVS and Caremark Rx in March.




Proceeds will also help pay down some commercial paper and
fund share repurchases and other corporate needs, according to
a filing by the company.


Read more at Reuters.com Bonds News

Treasuries Advance First Time in Seven Days as Yields Attract Investors

(Bloomberg) -- Treasuries advanced for the first
time in seven days as yields near the highest level in three
months attracted investors.

The so-called relative strength index for the 10-year
note's futures contract over a nine-day period fell below 24 on
May 18 for the first time since April 6. Readings below 30
indicate notes are ``oversold'' and likely to rise, while
readings above 70 indicate they will probably fall.


Read more at Bloomberg Bonds News

UPDATE 1-Higher Mills revs not seen until late '07 -Simon CFO

(Reuters) - "Clearly, we hope to start impacting leasing," Simon Chief
Financial Officer Steve Sterrett told Reuters. "But because of
the lead time to get tenants open, you're not going to see the
benefits of that in the best case, fourth quarter '07."




Sterrett was in Las Vegas attending the International
Council of Shopping Centers' annual convention, where
retailers, shopping center owners, brokers and bankers convene
to do deals. Investors also attend to get a better ground-level
view on the industry.


Read more at Reuters.com Mergers News

Crude Oil Rises Above $66 as U.S. Refineries Increase Gasoline Production

(Bloomberg) -- Crude oil rose above $66 a barrel in
New York to its highest price in three weeks as refineries
stepped up production of gasoline to meet increased demand for
summer.

U.S. refineries have boosted crude processing in recent
weeks after disruptions earlier in the year cut output. Gasoline
inventories rose to 195.2 million barrels the week ended May 11,
the second consecutive weekly increase, according to a U.S.
Energy Department report on May 16. The increase left supplies
7.5 percent below the five year average.


Read more at Bloomberg Commodities News

Altria, FEI, FX Energy, Skechers, Williams Power: 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 2:40 p.m. New York time.

Alltel Corp. (AT US) rose $4.23, or 6.5 percent, to $69.44
and traded as high as $70.45. Goldman Sachs Group Inc. and TPG
Inc. agreed to buy Alltel for about $24.7 billion in the largest
leveraged buyout of a telecommunications company. Investors will
get $71.50 a share, the mobile-phone company said. The offer is
9.6 percent more than Alltel's last closing price. Including
debt, the bid values Alltel at $27.5 billion.


Read more at Bloomberg Stocks News

UPDATE 1-Italy says ready to help on Alitalia job cuts

(Reuters) - "As the third phase of the Alitalia privatisation process
begins, the government confirms its readiness to adopt the most
opportune and consensual initiatives with regards to the
possible impact on jobs of the industrial plan presented by the
selected buyer," said a statement from Prime Minister Romano
Prodi's office.




Any state intervention would "respect European Union
norms," the statement added. EU rules aimed at ensuring fair
competition prevent governments from handing state aid to their
flag carrier airlines, a practice that used to be common.


Read more at Reuters.com Bonds News

Glaxo faces sales slide as No.2 drug hit

(Reuters) - Last month, U.S. prescriptions of the company's second biggest-selling drug, Avandia for diabetes, increased 6 percent after a difficult period of lacklustre growth and past manufacturing problems.




But an article on Monday in the prestigious New England Journal of Medicine by one of the world's top cardiologists suggesting the medicine increased the risk of heart death by 64 percent and the risk of heart attack by 43 percent will throw that positive trend into reverse.


Read more at Reuters.com Business News

Yen Falls to Lowest Level in Three Months Versus Dollar on Gains in Stocks

(Bloomberg) -- The yen fell to the lowest level in
almost three months versus the dollar as traders resumed
borrowing Japan's currency to fund purchases of higher-yielding
assets.

The Japanese yen fell against 14 of 16 most-active
currencies after Asian stock markets reversed declines and equity
indexes in the U.S. gained. The Nasdaq Composite Index rose 0.9
percent. Japan has the lowest borrowing costs among major
nations, encouraging investors to participate in the so-called
carry trade.


Read more at Bloomberg Currencies News

TPG, Goldman to buy Alltel in $25 billion deal

(Reuters) - TPG Capital and GS Capital Partners will acquire Alltel for $71.50 per share in cash, the company said, in what would be among the largest private equity deals ever.




Alltel's stock closed at $65.35 on Friday, with its shares steadily climbing throughout the year on speculation of a takeover.


Read more at Reuters.com Hot Stocks News

Fillmore ends bid for Genesis Healthcare

(Reuters) - "The Genesis board took this action without providing
Fillmore Capital Partners the opportunity to make a superior
bid for Genesis for the eighth time," Fillmore said in a
statement.





Read more at Reuters.com Mergers News

Crude Oil Rises for Third Session as Refineries Increase Gasoline Output

(Bloomberg) -- Crude oil rose for a third day in New
York as refineries stepped up production of gasoline to meet
increased demand for summer.

U.S. refineries have boosted crude processing in recent
weeks after disruptions earlier in the year cut output. Gasoline
inventories rose to 195.2 million barrels the week ended May 11,
the second consecutive weekly increase, according to a U.S.
Energy Department report on May 16. The increase left supplies
7.5 percent below the five year average.


Read more at Bloomberg Commodities News

Brazil's Bovespa Gains on Merger Speculation, Led by Telemar and Bradesco

(Bloomberg) -- Brazil's main stock index rose to a
record for a second day as the prospect of acquisitions in the U.S.
and Europe drove speculation that local telecommunications
companies and banks will be bought.

The Bovespa index of the most-traded stocks on the Sao Paulo
exchange gained 334.27, or 0.6 percent, to 52,411.95. Brazil's
biggest fixed-line telephone company Tele Norte Leste Participacoes
SA, or Telemar, led the gain.


Read more at Bloomberg Stocks News

U.S. Stocks Climb on Takeovers; S&P Rises Above Record Close Set in 2000

(Bloomberg) -- U.S. stocks climbed and the Standard &
Poor's 500 Index rose above its highest close after Goldman Sachs
Group Inc. and TPG Inc. agreed to buy Alltel Corp. for about
$24.7 billion, extending this year's record pace of mergers and
acquisitions.

Alltel, the fifth-biggest U.S. wireless company, rallied to
its highest in almost eight years and was the best performer in
the S&P 500 after the $71.50-a-share offer. General Electric Co.
advanced after the world's second-largest company by market value
said it will boost its share buyback plan by as much as $2
billion with proceeds from the sale of its plastics unit.


Read more at Bloomberg Stocks News

US housing decline to moderate 2007 job growth-MBA

(Reuters) - U.S. housing starts and home sales should reach a trough
around the end of the third quarter or the beginning of the
fourth, the MBA said in its "Trends in Housing-Related
Employment" report.




Read more at Reuters.com Bonds News

UPDATE 1-Pegasystems posts Q1 profit

(Reuters) - Pegasystems, which is based in Cambridge, Massachusetts,
said it expects to be profitable in 2007 and forecast total
revenue of $140 million to $160 million.




One analyst expects the company to report revenue of $130.7
million, according to Reuters Estimates.


Read more at Reuters.com Market News

Qatar to Begin Transporting Gas to U.A.E. Through Dolphin Pipeline in June

(Bloomberg) -- Qatar, the world's biggest liquefied
natural gas producer, will begin sales of natural gas to the
United Arab Emirates through the $3.5 billion Dolphin pipeline
in June, an official said today.

``Gas sales will start next month,'' Saad Al Kaabi, Qatar
Petroleum's oil and gas project marketing director said in an
interview in Doha today. Qatar Petroleum is supplying 400
million cubic feet a day to the Dolphin project on temporary
basis, he said.


Read more at Bloomberg Energy News

UPDATE 1-Fed official-don't choke off subprime lending

(Reuters) - "Mortgage market problems need to be addressed in a way
that addresses unfair and abusive practices while preserving
incentives for responsible subprime lenders," said Sandra
Braunstein, director of the Fed's division of consumer and
community affairs, in the text of a speech.




Braunstein was speaking before a House of Representatives
government oversight panel hearing in Cleveland.


Read more at Reuters.com Bonds News

Preem Gothenburg Refinery to Operate at Reduced Capacity for Three Weeks

(Bloomberg) -- Preem Petroleum AB, a Swedish oil
refiner, said its Gothenburg refinery will run at reduced capacity
for about three weeks after it resumes operations in early June.

The refinery's heating-oil unit was damaged by a fire May 13
as the plant was starting up after shutting five weeks for
maintenance. The company will know more about cost of the fire
after more repairs have been completed, Preem spokesman Thomas
Oegren said in a telephone interview.


Read more at Bloomberg Energy News

Alltel deal pre-empted auction process - sources

(Reuters) - First-round bids for Alltel, however, were not
due until June 6, sources said. As a result, Alltel
accepted the offer without knowing whether its
auction would draw even higher offers.




TPG and GS Capital Partners emerged with their
offer over the weekend and final details were
negotiated quickly, one source said.


Read more at Reuters.com Bonds News

Euro Falls to the Lowest Level in More Than Five Weeks on Fed Rate Outlook

(Bloomberg) -- The euro fell to the lowest level in
more than five weeks against the dollar as investors reduced bets
the Federal Reserve will cut interest rates in 2007.

Europe's currency also declined as the yield differential
between 10-year U.S. notes and similar-maturity German debt
widened last week to the most in more than a month, boosting the
appeal of U.S. assets.


Read more at Bloomberg Currencies News

GE to sell Plastics for $11.6 billion

(Reuters) - GE placed the Plastics unit, where profit last year slipped 22 percent to $674 million, on the block in January. GE Plastics last year generated $6.65 billion in revenue.




The price being paid by Riyadh-based SABIC was more than some investors had been expecting.


Read more at Reuters.com Mergers News

UPDATE 1-NetBank expects $60-$70 mln loss on deal with EverBank

(Reuters) - Shares in Atlanta-based NetBank fell 16 percent to $1.47 in
early morning trade on the Nasdaq.




NetBank expects the deal to close by end of June, it said
in a statement.


Read more at Reuters.com Bonds News

Treasury 10-Year Note's Yield Trades at a Three-Month High on Fed Outlook

(Bloomberg) -- Treasuries were little changed, with
the 10-year note's yield at a three-month high, as signs of U.S.
economic strength reduced the likelihood of a cut in borrowing
costs by the Federal Reserve this year.

Treasuries fell last week the most since January on reports
showing higher-than-expected hiring and consumer confidence.
U.S. government debt erased earlier gains today after a rise in
European equities reduced the allure of fixed-income assets.


Read more at Bloomberg Bonds News

Putin Urges Russian Government to Buy Domestic Stocks With Extra Oil Cash

(Bloomberg) -- President Vladimir Putin urged the
Russian government to bolster the country's flagging equity
market by pumping surplus oil revenue into domestic stocks.

Ministers should consider buying Russian ``blue chips''
with excess oil revenue instead of foreign securities, Putin
said at a Cabinet meeting in Moscow today, which was broadcast
on NTV television.


Read more at Bloomberg Emerging Markets News

Gold Falls in New York, Extends Weekly Loss as Dollar Gains; Silver Drops

(Bloomberg) -- Gold in New York fell, extending last
week's decline, as a gain in the value of the dollar reduced the
appeal of the precious metal as a hedge against the U.S.
currency. Silver also slid.

The dollar rose to a three-month high versus the yen as
traders reduced bets the U.S. Federal Reserve will cut interest
rates this year. Gold, which generally moves in the opposite
direction of the U.S. currency, fell to an eight-week low of
$654.10 an ounce last week as the dollar rose for a third
straight week against a basket of six major world currencies.


Read more at Bloomberg Commodities News

GE to sell Plastics unit in $11.6 billion deal

(Reuters) - GE said it would receive net after-tax proceeds of about $9 billion, which would be primarily put toward the company's current stock buyback.




Read more at Reuters.com Business News

Anadarko to sell Qatar operations for $350 mln

(Reuters) - Those companies together hold about 92.5 percent of two
blocks in Qatar, which include the Al Rayyan field that is
currently producing about 6,000 barrels of oil per day.




Read more at Reuters.com Mergers News

Dollar Touches Three-Month High Versus Yen on Fed Interest-Rate Outlook

(Bloomberg) -- The dollar rose to a three-month high
versus the yen as traders reduced bets the U.S. Federal Reserve
will cut interest rates this year.

The U.S. currency also extended gains versus the euro, after
rallying against its European counterpart for three consecutive
weeks. The euro slid against 14 of 16 of the most-traded
currencies tracked by Bloomberg on speculation recent gains in the
single currency already reflect the interest-rate outlook for the
European Central Bank.


Read more at Bloomberg Currencies News

U.S. Stock-Index Futures Climb; Alltel Gains on Takeover; Exxon Advances

(Bloomberg) -- U.S. stock-index futures rose after
Goldman Sachs Group Inc. and TPG Inc. agreed to buy Alltel Corp.
for about $24.7 billion in the largest leveraged buyout of a
telecommunications company.

Alltel, the fifth-biggest U.S. wireless company, climbed
after the $71.50 a share offer. Exxon Mobil Corp., the world's
largest publicly traded energy company, and ConocoPhillips, the
third-biggest U.S. oil producer, advanced after the price of
crude rose above $65 a barrel.


Read more at Bloomberg Stocks News

Olin to acquire Pioneer for $35 a share

(Reuters) - Olin expects the deal to immediately add to its earnings
per share and save at least $35 million in annual costs.





Read more at Reuters.com Mergers News

Blackstone Seeks to Raise $7.75 Billion Selling Stock to Public, China

(Bloomberg) -- Blackstone Group LP, manager of the
world's second-largest buyout fund, plans to raise as much as $7.75
billion selling stock to the public and the Chinese government.

The firm is offering as many as 155.3 million shares for
$29 to $31 each to raise $4.75 billion, New York-based
Blackstone said in a Securities & Exchange Commission filing
today. The firm also agreed to sell a $3 billion stake to the
Chinese government.


Read more at Bloomberg Emerging Markets News

Hulamin eyes 37 pct output growth by 2011

(Reuters) - South African semi-fabricated aluminium maker Hulamin expects to expand its rolled product output by 37 percent from last year to 250,000 tonnes in 2011 and beef up its exports worldwide.

Alan Fourie, chief executive officer of Hulamin, which is due to be split from sugar and aluminium group Tongaat-Hulett (TH) and list on the Johannesburg bourse on June 25, was also bullish in an interview on Monday on the firm's earnings prospects, but declined to give a specific forecast.


Read more at Reuters Africa

Platinum Falls in London on Expanding Mining Supply; Palladium Advances

(Bloomberg) -- Platinum fell in London, extending
last week's decline, as growing output from South Africa and
Russia may exceed demand from jewelers and carmakers. Palladium
gained to a one-week high.

Platinum output from South Africa, the world's biggest
producer, may rise more than 5 percent this year after a 1.7
percent gain last year, London-based Johnson Matthey Plc forecast
last week. Russia, the second-biggest producer, was allowed to
resume exports after a delay since the start of the year,
Interfax news agency reported in April.


Read more at Bloomberg Commodities News

Copper Advances After Largest Weekly Decline in Three Months; Nickel Falls

(Bloomberg) -- Copper rose in London after posting
the largest weekly decline in more than three months, underpinned
by a 23 percent drop in metal stockpiles this year that suggests
more demand. Nickel fell.

Inventories of copper monitored by the London Metal Exchange
fell 1,250 metric tons, or 0.9 percent, to 140,075 tons, the
exchange said today in a daily report, the lowest level since
Nov. 2. Goldman Sachs Group Inc. raised its 2007 price forecasts
for copper 6.5 percent on speculation ``strong'' growth in China
will offset ``weakness'' in U.S. demand.


Read more at Bloomberg Commodities News

Derivative growth slows in 2nd half of 2006 -BIS

(Reuters) - Credit derivative growth was marked by a 54 percent gain in
multi-name products such as collateralised debt obligations,
which are baskets of default swaps sliced to give investors
varying levels of exposure to risk. Growth in single-name
contracts was 36 percent.




In the interest rate derivative sector, the amount of
notional outstanding grew 11 percent in the second half to $292
trillion, after a 24 percent expansion in the first half, the
BIS said.


Read more at Reuters.com Bonds News

German Stocks Including Siemens, Bayer Rise; Continental Shares Decline

(Bloomberg) -- German stocks including Siemens AG
advanced after the engineering company named Merck & Co.'s Peter
Loescher as its chief executive officer to succeed Klaus
Kleinfeld.

Bayer AG climbed after UBS AG raised its share-price
estimate. Continental AG paced falling shares.


Read more at Bloomberg Stocks News

Hungarian Forint Advances Before Central Bank Decides on Interest Rates

(Bloomberg) -- The Hungarian forint rose, snapping a
four-session losing streak, as investors bet the central bank will
cut interest rates today from the highest in the European Union.

A Bloomberg News survey of 18 economists showed they are
divided over whether policy makers will cut the benchmark rate,
nine economists expect a quarter-point reduction and nine forecast
borrowing costs will stay on hold at 8 percent.


Read more at Bloomberg Currencies News

UPDATE 1-Glaxo cervical cancer shot approved in Australia

(Reuters) - Europe's biggest drugmaker said Cervarix, one of its biggest
new drug hopes, had been approved for use in women aged 10 to 45
years old.




Glaxo expects to launch Cervarix in Europe later this year
but it may not get to market in the United States before 2008.


Read more at Reuters.com Government Filings News

Russia links EADS stake to joint aircraft deal

(Reuters) - "If there is partnership between EADS and UAC on joint
aircraft production, then it makes sense to talk about stakes.
If there is no partnership, there is no benefit in holding that
stake, and there is no sense in keeping it," President Vladimir
Putin's top economic aide, Arkady Dvorkovich, told reporters.




Read more at Reuters.com Mergers News

French Stocks Decline; Societe Generale, Axa and STMicroelectronics Drop

(Bloomberg) -- French stocks slid, paced by Societe
Generale SA, Axa SA and STMicroelectronics NV.

The CAC 40 Index lost 22.13, or 0.4 percent, to 6079.01 at
9:05 a.m. in Paris. The SBF 120 Index dropped 0.3 percent.


Read more at Bloomberg Stocks News

Ten-Year Treasury Yields Trade at Three-Month High as Inflation Restrained

(Bloomberg) -- U.S. notes may gain as 10-year yields
approached the highest this year, attracting investors who are
betting slowing economic growth will keep inflation in check.

Ten-year yields, which move in the opposite direction as
prices, rose to 4.81 percent at the end of last week, climbing
toward the 2007 high of 4.90 percent set Jan. 26. Home sales
held near a four-year low in April, evidence that housing is the
weakest part of the economy, a report this week may show.


Read more at Bloomberg Bonds News