Gold Little Changed Amid Speculation Sell-Off on Dollar's Gain Overdone

(Bloomberg) -- Gold was little changed in Asia amid
speculation that yesterday's sell-off, linked to the dollar's
gains and concern about higher global interest, was overdone.

Gold, which generally moves in the opposite direction of the
dollar, fell 1 percent yesterday as the dollar rose 0.4 percent
against the euro. Gold, which becomes less attractive when
interest rates rise because the metal has no fixed returns, also
fell on speculation of increasing global rates.


Read more at Bloomberg Commodities News

Dollar strikes 4-1/2-year high vs yen

(Reuters) - The dollar soared to a 4-1/2-year peak against the yen and an 11-week high versus the euro on Wednesday as a sharp rise in U.S. bond yields boosted the dollar's allure while carry trades proved resilient.

The euro fell to one-month lows against the yen earlier in the session on concerns that rising global bond yields and sluggish stock markets would spark an unwinding of carry trades, where investors use the low-yielding currency for financing investment in high-yielding ones like the New Zealand dollar.


Read more at Reuters Africa

Barclays has plans to sweeten offer for ABN: report

(Reuters) - Barclays is looking at reducing the number of shares it would issue for ABN and replacing them with cash, said the newspaper, quoting people familiar with the situation.




Barclays is not expected to make a decision about restructuring its offer until it becomes clear whether the RBS-led consortium can go ahead with its rival 71.4 billion euro break-up bid for ABN, said the FT.


Read more at Reuters.com Business News

China's Huadian Power to Cut 2008 Spending by Two-Thirds to Boost Profit

(Bloomberg) -- Huadian Power International Corp.,
fourth-largest among China's Hong Kong-listed electricity
producers, plans to cut spending on new plants by two-thirds
next year to increase profitability.

Capital investment may drop to 5 billion yuan ($654 million)
to add 1,200 megawatts of coal-fired capacity in 2008, Zhang
Gelin, head of the Beijing-based utility's securities department,
said yesterday in a phone interview from Beijing. Spending may
total 15 billion yuan this year, Managing Director Chen Jianhua
said March 26.


Read more at Bloomberg Emerging Markets News

Asian Stocks Fall to Two-Week Low on Rising Bond Yields; Toyota Declines

(Bloomberg) -- Asian stocks fell to a two-week low on
concern rising global interest rates will sap demand in the
world's largest economies.

Toyota Motor Corp. and Samsung Electronics Co. led declines
among exporters after yields on U.S. Treasuries climbed to the
highest in five years. BHP Billiton Ltd. and Sumitomo Metal Mining
Co. led mining shares lower after metals prices dropped.


Read more at Bloomberg Stocks News

U.S. Says Hurricanes May Cut Oil Output by 13 Million Barrels This Year

(Bloomberg) -- Hurricanes in the Gulf of Mexico
this year will cut U.S. crude oil production by about 13.2
million barrels and natural gas output by about 86.5 billion
cubic feet, the government said.

The U.S. Energy Department estimates are based on last
month's forecast from the National Oceanic and Atmospheric
Administration for an above-normal hurricane season, with 13 to
17 named storms in the Atlantic Basin. Seven to 10 of them will
likely become hurricanes, and three to five may become major
hurricanes with winds above 111 miles (179 kilometers) an hour.


Read more at Bloomberg Energy News

Oil dips as U.S. gasoline stockpiles seen climbing

(Reuters) - London Brent crude currently seen as more representative of the global market, was down 18 cents at $68.61 a barrel by 0409 GMT, extending a 77 cent drop on Tuesday. Brent's July contract expires on Thursday.




U.S. crude fell 19 cents to $65.16 after a 62 cent fall.


Read more at Reuters.com Hot Stocks News

Colombia Sells $1 Billion of Peso Bonds, to Buy Back Foreign Securities

(Bloomberg) -- Colombia sold $1 billion of 20-year
peso-denominated bonds in international markets today, raising
funds to buy back foreign debt.

The government sold the 20-year bonds, the longest maturity
on peso-denominated bonds, to yield 9.85 percent. The government
said in a statement it will repurchase as much as $800 million of
foreign bonds maturing in 2008 through 2016.


Read more at Bloomberg Bonds News

Rand firms but dollar strength caps gains

(Reuters) - South Africa's rand was firmer on Tuesday but a strong dollar that has depressed metals prices capped its gains as traders continue to look to external developments for direction.

The local currency was at 7.22 against the greenback at 1535 GMT, 0.3 percent stronger than its previous New York close of 7.2425, but off the session's firmest mark of 7.1877.


Read more at Reuters Africa

French Stocks Decline, Led by Sanofi-Aventis, Veolia Environnement, Areva

(Bloomberg) -- French stocks declined, paced by
Sanofi-Aventis SA and Veolia Environnement SA

Lagardere SCA shares gained on a positive broker
recommendation.


Read more at Bloomberg Stocks News

Lehman Brothers quarterly earnings rise

(Reuters) - Analysts had on average expected earnings before special items of $1.87 a share, according to Reuters Estimates.




Lehman Brothers has missed out on the stock market rally that began in March, as investors have fretted about the company's exposure to home loans made to people with poor credit. Such subprime mortgages have suffered from rising defaults recently. Lehman says its exposure to subprime mortgages is small.


Read more at Reuters.com Business News

Crude Oil Declines on Expectations of Increase in U.S. Gasoline Stockpiles

(Bloomberg) -- Crude oil fell on expectations that
U.S. gasoline stockpiles will be sufficient to meet demand
during the summer season.

The U.S. Energy Department will probably report tomorrow
that supplies of the fuel rose 1.5 million barrels in the week
ended June 8 from 201.5 million barrels a week earlier,
according to a Bloomberg News survey of 13 analysts. That would
be the sixth weekly gain.


Read more at Bloomberg Commodities News

European Stocks Decline, Paced by HBOS, Veolia, Royal Bank of Scotland

(Bloomberg) -- European stocks declined, led by HBOS
Plc, Royal Bank of Scotland Group Plc and Veolia Environnement SA.

The Dow Jones Stoxx 600 Index fell 0.2 percent to 388.28 at
11:45 a.m. in London. The Stoxx 50 also lost 0.2 percent and the
Euro Stoxx 50, a measure for the 13 nations sharing the euro,
dropped 0.4 percent.


Read more at Bloomberg Stocks News

UPDATE 1-ComScore sees IPO of 5 mln shares at $14-$16 each

(Reuters) - The company expects to raise $92 million from the offering,
which it plans to use for working capital, capital expenditures
and possibly to fund potential acquisitions.




In an amended filing with the U.S Securities and Exchange
Commission, the provider of digital marketing intelligence
platform said Credit Suisse and Deutsche Bank Securities, among
others, were underwriting the IPO.


Read more at Reuters.com Bonds News

UPDATE 1-Deadline for Arcelor's China buy extended again

(Reuters) - The deadline has been pushed back to Dec. 31 and if at that
time the purchase seems close to completion, it will be extended
further to March 31 next year, Laiwu said in a brief statement on
Tuesday.




"At present we are gradually implementing provisions of the
deal in accordance with the requests of the relevant national
authorities," it said, without elaborating.


Read more at Reuters.com Government Filings News

BHP declares Australia coal force majeure, prices up

(Reuters) - BHP Billiton Ltd. has declared force majeure on thermal coal shipments from Australia's Newcastle port because of flooding, with the lost supplies pushing spot coal prices to three-year highs on Tuesday.

Rio Tinto, the biggest exporter of thermal coal through the country's top export terminal, said it had not declared force majeure, though other exporters said they could still do so.


Read more at Reuters Africa

U.K. Inflation Rate Declined to 2.5 Percent in May, Lowest in Seven Months

(Bloomberg) -- The U.K.'s inflation rate fell to the
lowest level in seven months in May after utility companies cut
Britons' gas and electricity bills.

Consumer prices increased an annual 2.5 percent after gaining
2.8 percent in April, the Office for National Statistics said in
London today. The median forecast of 33 economists in a Bloomberg
News survey was for a rate of 2.6 percent. On the month, prices
rose 0.3 percent, the same as in April.


Read more at Bloomberg Bonds News

PREVIEW-BOJ to keep rates this week, watch more data

(Reuters) - *Key overnight call rate target seen staying at 0.5 percent




By Hideyuki Sano


Read more at Reuters.com Bonds News

Carbon-Dioxide Emission Permits Drop, Approaching Lowest Price This Month

(Bloomberg) -- European Union carbon-dioxide emission
permits fell, approaching the lowest this month.

Emission permits for delivery in December 2008 fell 23 cents,
or 1 percent, to 22.55 euros ($30.10) a metric ton, according to
the European Climate Exchange in Amsterdam at 9:56 a.m. local
time. They've fallen in five of the past six sessions, losing 8.4
percent since June 4.


Read more at Bloomberg Energy News

Nokia's Kallasvuo sees more acquisitions ahead

(Reuters) - "In practice, it means more acquisitions. Acquisition is one form of cooperation," Kallasvuo wrote.




In recent years Nokia, the world's biggest handset maker, has made a string of smaller purchases, snapping up several firms with technology and media for its handsets.


Read more at Reuters.com Mergers News

Crude Oil Declines on Expectations U.S. Gasoline Inventories Will Increase

(Bloomberg) -- Crude oil fell on expectations that
an Energy Department report tomorrow will show a further build in
U.S. gasoline inventories.

Gasoline stockpiles probably gained 1.5 million barrels in
the week ended June 8, from 201.5 million barrels a week earlier,
according to the median of responses by 13 analysts in a
Bloomberg News survey. Twelve of the analysts expected a gain and
one said there would be a decline.


Read more at Bloomberg Energy News

Malaysian Palm Oil Price Rises on Renewed Demand After 12 Percent Decline

(Bloomberg) -- Malaysian palm oil futures rose,
recovering from a two-day decline of 12 percent, on sustained
demand for cooking oil and alternative fuel.

Global vegetable oil consumption is expected to rise 4.1
percent in the year ending September 2008, driven by increases
in China, India and the European Union, the U.S. Department of
Agriculture said in a report yesterday.


Read more at Bloomberg Commodities News