Standard Chartered Makes Gilles Franck Head of Mideast Capital Markets

(Bloomberg) -- Standard Chartered Plc, the U.K.
bank that makes most of its money in Asia, named Gilles Franck
head of capital markets for the Middle East and Pakistan.

Franck, who spent 18 years with BNP Paribas SA in London,
will be based in Dubai and responsible for Standard Chartered's
regional fixed income, syndications and institutional sales
business, the bank said in an e-mailed statement today.


Read more at Bloomberg Bonds News

European Mining Stocks May Gain; BHP Billiton, Rio Tinto Might Advance

(Bloomberg) -- European mining stocks may rise for a
ninth day after UBS AG lifted its share-price forecasts for BHP
Billiton Ltd., Rio Tinto Group and Antofagasta Plc.

U.S.-traded securities of BHP, the world's biggest mining
company, and Rio Tinto, the third-largest, advanced. Royal Numico
NV may be active after Groupe Danone SA said it offered to buy
the company for 12.3 billion euros ($16.8 billion) after the
market close yesterday. The shares were suspended from trading.
Solarworld AG might drop after UBS downgraded the stock.


Read more at Bloomberg Stocks News

TSMC's June sales fall 7.5 pct from year ago

(Reuters) - TSMC's sales were T$25.093 billion in May.




Smaller rival United Microelectronics Corp.
reported a 0.44 percent annual fall in June sales on
Monday.



Read more at Reuters.com Market News

Philippines to Raise $372 Million Selling Stake in PNOC Energy, People Say

(Bloomberg) -- PNOC Energy Development Corp., the
Philippines' largest producer of geothermal energy, said the
government raised 17.1 billion pesos ($372 million) by selling
20 percent of the utility. The company's shares surged.

The 3 billion shares were sold at 5.7 pesos each, PNOC
Energy said in a statement to the stock exchange today.
Investors placed orders for more than six times the stock on
offer, according to two people familiar with the deal, who
declined to be identified before the official announcement.


Read more at Bloomberg Energy News

Blue chip: U.S. consumer spending growth to slow

(Reuters) - After a pickup in business inventories and a narrowing of the trade deficit, the economy is expected to have grown by a more robust 3.0 percent annual pace during the second quarter, following an anemic 0.7 percent rate in the first three months of the year, the consensus found.




"That would mark a sharp improvement over the lackluster 0.7 percent rate registered in Q1 and represent the fasted pace of growth since Q1 2006," the newsletter wrote.


Read more at Reuters.com Business News

Canadian Apartment, Fort Chicago Energy Partners: Canada Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed.
Symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index rose 58.82, or
0.4 percent, to 14,177.52.


Read more at Bloomberg Stocks News

UPDATE 2-IMF board says nominations for top job open to all

(Reuters) - WASHINGTON, July 9 - The International Monetary
Fund's board said on Monday that any country could nominate a
candidate to succeed IMF Managing Director Rodrigo Rato,
throwing open a job customarily given to Europeans.




"Any executive director may submit a nomination, regardless
of nationality, for the position, consistent with past
practice," the board of IMF shareholder nations said in a
statement, as some European members pushed to maintain a
tradition of selecting the head of the institution.


Read more at Reuters.com Bonds News

U.S. Treasuries Little Changed; Bernanke May Highlight Inflation Concerns

(Bloomberg) -- U.S. Treasury notes were little
changed, with inflation expectations at a two-week high, before
Federal Reserve Governor Ben S. Bernanke speaks today.

Notes may extend a decline this month on speculation
Bernanke will say he is still concerned that rising prices for
goods and services are the biggest problem facing the U.S.
economy. Treasuries have lost 0.4 percent in July, including
reinvested interest, adding to losses in May and June, according
to Merrill Lynch & Co. data.


Read more at Bloomberg Bonds News

Yen Gains Versus Euro Before Bond Payouts by Governments in France, Italy

(Bloomberg) -- The yen rebounded from a record low
against the euro on speculation Japanese investors will
repatriate income from maturing Italian and French government
debt.

The currency also rose against New Zealand's dollar after a
report showed falling business confidence in that nation, which
may deter investors from buying its higher-yielding assets.
Italy is due to pay 1.6 billion euros ($2.2 billion) in coupon
and principal today and France will make payments of 17.3
billion euros on July 12, according to data compiled by
Bloomberg.


Read more at Bloomberg Currencies News

Alcoa 2nd quarter profit slips; extends Alcan offer

(Reuters) - Alcoa also extended its $28.6 billion offer to acquire Canadian rival Alcan Inc , which was to expire on Tuesday, by a month.




Last week, Alcan said the offer remains inadequate and said it is pursuing alternatives, such as talks with other groups. It declined to comment on reports that Rio Tinto Ltd , the world's second-largest miner, has asked investment banks to advise it on options, including a possible counter bid for Alcan.


Read more at Reuters.com Business News

Japan's Nikkei 225 Average, Topix Fall; Toyota and Nintendo Lead Declines

(Bloomberg) -- Japan's Nikkei 225 Stock Average fell
19.90, or 0.1 percent, to 18,242.08 as of 9:05 a.m. in Tokyo. The
broader Topix index dropped 3.16, or 0.2 percent , to 1789.07.

Toyota Corp. and Nintendo Co. led the declines.


Read more at Bloomberg Stocks News

Japan's Commodity Stocks May Fall; Kawasaki Heavy, Advantest May Advance

(Bloomberg) -- Japanese commodity-related shares may
decline after the price of crude oil fell in New York and Alcoa
Inc., the world's second-biggest aluminum producer, reported a
drop in its second-quarter profit.

Limiting declines, chip-related shares such as Advantest
Corp. may gain after brokerages in the U.S. said Intel Corp. may
report second-quarter sales at the high-end of the company's own
forecast.


Read more at Bloomberg Stocks News

UPDATE 3-Malaysia Airports-GMR group win Istanbul airport

(Reuters) - ANKARA, July 9 - A consortium of Malaysia
Airports Holdings , India's GMR Infrastructure
and Turkey's Limak clinched the rights to Istanbul's
second airport on Monday with a 1.9 billion-euro bid.




The winning bid -- which does not include 18 percent value
added tax -- beat offers from four other consortiums of foreign
and local players in a tender lasting more than 12 hours, said
Mete Arslan, chairman of Turkey's Undersecretariat for Defence
Industries .


Read more at Reuters.com Mergers News

UPDATE 2-Alcoa 2nd quarter profit slips; extends Alcan offer

(Reuters) - NEW YORK, July 9 - Alcoa Inc reported
second-quarter earnings on Monday that matched Wall Street
expectations, but the aluminum producer's revenue fell short of
forecasts.




Alcoa also extended its $28.6 billion offer to acquire
Canadian rival Alcan Inc by a month. The offer,
which has been rejected by Alcan, was due to expire on
Tuesday.


Read more at Reuters.com Market News

US STOCKS-Buybacks, earnings forecasts buoy indexes

(Reuters) - NEW YORK, July 9 - U.S. stocks rose on Monday on
growing optimism about second-quarter earnings and plans by
Johnson & Johnson and ConocoPhillips to buy
back their own shares.




J&J gained 1 percent after the health-care company
announced plans for a $10 billion share buyback.
ConocoPhillips, which nearly quadrupled its repurchase plan to
$15 billon, rose 3.7 percent.


Read more at Reuters.com Bonds News

UPDATE 1-Gemstar hires UBS to explore sale, other options

(Reuters) - The company said it had hired UBS investment bank as its
financial adviser and Wachtell, Lipton, Rosen & Katz as its
legal adviser.




In May, Gemstar-TV Guide reported a sharply higher profit
due in part to growth in its guidance technology and solutions
business and the reversal of an arbitration award against the
company.


Read more at Reuters.com Mergers News

CBOT chairman says CME-CBOT merger vote to pass

(Reuters) - The $11.9 billion merger was put to a vote at a special shareholder meeting of the Chicago Board of Trade on Monday.



) Keywords: CBOT CME/VOTE


Read more at Reuters.com Bonds News

Brinker, CytRx, Cummins, KBR, Lexmark, SanDisk: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

Alnylam Pharmaceuticals Inc. (ALNY US) rose $7.92, or 52
percent, to $23.12. Roche Holding AG (ROG VX), the world's
biggest maker of cancer medicines, may pay as much as $1 billion
for rights to Alnylam technology that may allow the companies to
find new tumor, liver and breathing treatments.


Read more at Bloomberg Stocks News

J&J, ConocoPhillips Add $25 Billion to This Year's Record Pace of Buybacks

(Bloomberg) -- Johnson & Johnson and ConocoPhillips
today announced plans to repurchase a combined $25 billion of
stock, adding to this year's record pace of U.S. share buybacks.

J&J, the world's largest maker of health-care products, will
use a combination of cash and debt to fund a $10 billion
repurchase program, the company's largest. ConocoPhillips, the
third-biggest U.S. oil producer, plans to buy back as much as $15
billion of its shares.


Read more at Bloomberg Stocks News

BMO's Harris declines comment on Ozaukee report

(Reuters) - The Milwaukee Journal Sentinel, quoting two unnamed banking
industry sources, reported late last week that Canada's fourth
biggest bank is eyeing Ozaukee Bank, which has more than $694
million in assets and six branches in the Milwaukee suburbs.




"We don't comment on rumor and speculation," Harris
spokeswoman Amy Yuhn said.


Read more at Reuters.com Mergers News

Coffee Falls in New York as Warm Weather Reduces Threat of Frost in Brazil

(Bloomberg) -- Coffee declined for the fifth straight
session in New York as forecasts for warm, dry weather eased
concerns that frost would damage the crop in Brazil, the world's
largest producer.

Temperatures in Brazil's coffee-growing areas are expected
to be near to above normal, with lows around 55 degrees
Fahrenheit (13 degrees Celsius), according to Meteorlogix LLC in
Woburn, Massachusetts. A ridge of high pressure over northern
Argentina is expected to move across southern Brazil this week,
posing no threat to the coffee belt, the forecaster said.


Read more at Bloomberg Commodities News

Asustek Computer, Samsung Electronics, WCT: 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.

Taiwan exporters: Taiwan's exports surged twice as much as
economists' expected in June, climbing 11 percent from a year
earlier, the Ministry of Finance said. That compared with a 5.5
percent median estimate in a Bloomberg News survey. Hon Hai
Precision Industry Co. (2317 TT), Taiwan's biggest electronics
exporter, rose NT$4, or 1.4 percent, to NT$299. Quanta Computer
Inc. (2382 TT), the world's largest maker of notebook computers,
climbed NT$3.80, or 6.9 percent, to NT$58.80.


Read more at Bloomberg Stocks News

Treasuries Advance First Time in Four Days on Subprime Mortgage Concern

(Bloomberg) -- Treasuries advanced for the first
time in four days on speculation subprime mortgage losses and
higher lending rates may slow U.S. economic growth.

Benchmark yields increased last week by the most in more
than a year on reports for June showing unexpected strength in
hiring, manufacturing and services. A reluctance to lend as
mortgage defaults and delinquencies rise may slow economic
growth, buoying U.S. government debt.


Read more at Bloomberg Bonds News

JPMorgan, Lehman Brothers Lead Fixed-Income Market, Greenwich Study Says

(Bloomberg) -- JPMorgan Chase & Co. and Lehman
Brothers Holdings Inc. tied for first place among fixed-income
dealers in 2007 based on market share and service quality,
according to a Greenwich Associates study.

This year marks the first time Greenwich published the
results of its fixed-income survey. Deutsche Bank AG, Goldman
Sachs Group Inc. and Banc of America Securities LLC rounded out
the top five firms, the report said.


Read more at Bloomberg Bonds News

U.S. Stocks Gain, Paced by Alcoa, Boeing; S&P 500 Index Rises for 5th Day

(Bloomberg) -- U.S. stocks rose and the Standard &
Poor's 500 Index gained for a fifth straight day on speculation
second-quarter earnings will beat analysts' estimates.

Alcoa Inc., the first Dow Jones Industrial Average company
scheduled to report results, paced the 30-stock gauge's
advance. The world's second-biggest aluminum maker will
announce its earnings after the close of trading today. Boeing
Co., the world's second-largest commercial airplane maker,
climbed on reports it received orders for its 787 Dreamliner.


Read more at Bloomberg Stocks News

TREASURIES-Bonds rise as high yields draw bargain hunters

(Reuters) - While volume was thin, yields near two-week highs tempted
investors who expect woes in the subprime mortgage sector and
housing market ultimately to weaken the economy, analysts
said.




At the same time, the predominant view that the Federal
Reserve will hold benchmark interest rates unchanged through
year end held bonds in a tight range.


Read more at Reuters.com Bonds News

Antrim Energy shares leap on North Sea oil find

(Reuters) - "The tests confirm a substantial oil column extending downward into the Etive Formation in the previously undrilled Central Causeway fault compartment," Antrim said in a release.




The company said it completed testing at two oil-bearing sandstone zones at the well.


Read more at Reuters.com Hot Stocks News

Huntington profit to miss view amid housing woe

(Reuters) - The announcement is evidence that the housing slowdown and weakening credit quality may be affecting banks' bottom lines. Last week, the American Bankers Association, a trade group, said U.S. consumer delinquencies were at their highest level since the second quarter of 2001, when the economy was in recession.




Shares of Huntington fell as much as 4.7 percent.


Read more at Reuters.com Hot Stocks News

Banker sought in $400 mln fraud caught after 5 years

(Reuters) - Michael Berger, an Austrian national who pleaded guilty to charges of securities fraud in a Manhattan court in 2000 and then went fugitive in March 2002, was arrested while driving towards Salzburg.




"He was in hiding. It took a quite a long time until we hit on where he was," said Gerald Hesztera, spokesman for Austria's federal police.


Read more at Reuters.com Business News

REFILE-Banks losing up to $52 bln from subprime CDOs -CS

(Reuters) - In June, fears of hedge fund losses in subprime mortgages,
or home loans made to borrowers with blemished credit
histories, rattled financial markets after news of hefty losses
at two funds managed by Bear Stearns .




Meanwhile, the London-based Credit Suisse analysts who
wrote the report said European banks will have less subprime
CDO losses than their U.S. counterparts.


Read more at Reuters.com Bonds News

Dollar Little Changed Versus Yen, Euro Before Bernanke's Inflation Speech

(Bloomberg) -- The dollar was little changed versus
the yen and euro before a speech on inflation by Federal Reserve
Chairman Ben. S. Bernanke tomorrow when he may say rising prices
are still a concern.

The Fed said a moderation in inflation hasn't been
``convincingly demonstrated'' at a June 28 meeting when it left
interest rates at 5.25 percent. The yen might decline as the Bank
of Japan is forecast to leave borrowing costs at 0.5 percent this
week, the lowest among major economies. That may encourage carry
trades in which investors seek higher yielding returns overseas.


Read more at Bloomberg Currencies News

Nymex Gas Jumps as Warmer-Than-Normal Weather Boosts Demand in U.S. East

(Bloomberg) -- Natural gas futures in New York rose
for the third time in five trading sessions as hot weather pushed
into the eastern U.S., boosting demand for electricity to power
air conditioners.

New York's high temperature today is forecast to reach 96
degrees Fahrenheit (36 Celsius), about 12 degrees above normal,
according to the National Weather Service. The hot weather will
last through July 11, with maximum temperatures of 95 degrees
tomorrow and 91 the following day, the forecaster said.


Read more at Bloomberg Energy News

UPDATE 1-Marshall & Ilsley agrees to buy First Indiana

(Reuters) - The offer amounts to $32 a share, or 45 percent higher than
First Indiana's closing share price of $22.05 on Friday.




The deal is expected to hurt Marshall & Ilsley's earnings
by about 2 cents a share in the first year after close and add
to earnings thereafter.


Read more at Reuters.com Mergers News

Oil rises above $76 to new 11-month high

(Reuters) - Oil prices rose to an 11-month high above $76 a barrel on Monday as rising global oil demand and North Sea field maintenance exacerbated supply worries.

London Brent crude, currently seen as a better indicator of the global market, climbed to an intraday high of $76.03 a barrel, the highest level since mid-August 2006.


Read more at Reuters Africa

US STOCKS-S&P futures rise before earnings kick-off

(Reuters) - NEW YORK, July 9 - Standard & Poor's 500 stock
futures rose on Monday as investors bet that signs of economic
strength meant companies will beat quarterly profit forecasts
as the earnings reporting season starts.




Deal speculation also lent support, with shares of FedEx
Corp. up 2.3 percent before the opening bell. Barron's
newspaper said the package delivery company could become a
takeover target of private equity buyers.


Read more at Reuters.com Bonds News

99 Cents Only quarterly total sales rise 11.1 pct

(Reuters) - Same-store sales for the quarter increased 5.2 percent.







Read more at Reuters.com Market News

Uganda coffee earnings up 60 pct to $24.32 mln

(Reuters) - Uganda's coffee export earnings jumped 60 percent in June to $24.32 million compared with the same month last year, pushed by high prices and a 30.6 percent rise in bags sold, the coffee board said on Monday.

Coffee exports totalled 244,789 60-kg bags in June 2007, up from 187,448 recorded in June last year, the Uganda Coffee Development Authority (UCDA) said in a monthly report.


Read more at Reuters Africa

Biomet quarterly earnings fall

(Reuters) - The company, which is being taken private by a group of equity firms for $11.4 billion, posted fourth-quarter earnings of $41.5 million, or 17 cents a share, compared with $100.4 million, or 41 cents in the year-ago quarter.



Excluding certain items, the company earned 39 cents a share compared with 46 cents in the year-ago quarter.


Read more at Reuters.com Market News

CN Rail, Cogeco, Katanga Mining and Uranium One: Canadian 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
on July 6. Stock symbols are in parentheses after company names and
prices are from the July 6 close.

The Standard & Poor's/TSX Composite Index gained 39.29, or 0.3
percent, to 14,118.70 on July 6 in Toronto.


Read more at Bloomberg Stocks News

Latvia's Inflation Rate Rose to 8.8 Percent, Highest in the EU, in June

(Bloomberg) -- Latvia's annual inflation rate rose
to 8.8 percent in June, the highest in the European Union, as
food prices advanced.

The rate rose from 8.2 percent in May, the Riga-based
statistics office said on its Web site today, exceeding a median
estimate of 8.4 percent by seven economists in a Bloomberg
survey. Consumer prices rose a monthly 0.9 percent.


Read more at Bloomberg Emerging Markets News

Children's Place June sales fall 4 pct

(Reuters) - It said it remains "cautiously optimistic" about the second half of the year, which includes the important back-to-school and holiday shopping seasons.







Read more at Reuters.com Market News

Colombia, Mexico, Peru, Venezuela, Argentina: Latin America Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Colombia: The nation's trade surplus widened to $149.4
million in April from $43.8 million a year ago, according to a
July 6 government report.


Read more at Bloomberg Bonds News

IEA sees oil supply crunch looming

(Reuters) - In its Medium-Term Oil Market Report, the adviser to 26 industrialized countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of two percent.




The outlook, which updates an IEA forecast last issued in February, coincides with a jump in oil prices to more than $75 a barrel, closing in on a record high near $79, on concerns of a tightening market.


Read more at Reuters.com Business News

Oil eases from 11-month high

(Reuters) - London Brent crude currently seen as a better indicator of the global market, eased 60 cents to $75.02 a barrel after briefly surging above $76 the previous session. The all-time record high for Brent is $78.65, reached in early August 2006.




U.S. crude fell 70 cents to $72.11 a barrel.


Read more at Reuters.com Hot Stocks News

U.S. Stock-Index Futures Gain; Alcoa, Boeing, Alnylam Advance in Europe

(Bloomberg) -- U.S. stock-index futures rose on
speculation companies' earnings will beat analyst estimates.

Alcoa Inc., the world's second-largest aluminum company,
gained in Europe before reporting second-quarter income. Boeing
Co. climbed after unveiling its 787 Dreamliner. Alnylam
Pharmaceuticals Inc. soared as Roche Holding AG, the world's
biggest maker of cancer medicines, agreed to buy the rights to
the company's therapeutic technology for up to $1 billion.


Read more at Bloomberg Stocks News

Gold Gains on Demand for a Hedge Against Inflation; Silver Also Advances

(Bloomberg) -- Gold rose in London on speculation
higher prices may revive demand for the metal as a hedge against
inflation. Silver also gained.

Central banks in Sweden, Switzerland and the U.K. have raised
interest rates this year to control escalating prices. The Bank of
Canada may join the list tomorrow, raising rates for the first time
since May 2006. Gold climbed to a record $850 an ounce in 1980,
partly because a jump in oil prices spurred hedge demand.


Read more at Bloomberg Commodities News

3M plans 7-year euro benchmark bond -lead

(Reuters) - 3M is rated Aa1 by Moody's Investors Service and AA by
Standard & Poor's.




Read more at Reuters.com Bonds News

Carbon Emission Permits in Europe Rise as U.K. Natural Gas Prices Advance

(Bloomberg) -- European Union carbon dioxide permits
rose after U.K. day-ahead natural-gas prices reached their
highest this year.

Emission permits for delivery in December 2008 added 25
cents, or 1.2 percent, to 22.05 euros ($30.06) a metric ton,
according to prices from the European Climate Exchange in
Amsterdam at 9:52 a.m. local time. They earlier traded as high
as 22.30 euros, their highest since July 2.


Read more at Bloomberg Energy News

Oil eases from 11-month high, supply worries persist

(Reuters) - London Brent crude , currently seen as a better indicator of the global market, eased 14 cents to $75.48 a barrel by 0637 GMT, within sight of Friday's $76.01 peak and near its all-time high of $78.65 a barrel one year ago on July 8.




U.S. crude fell 31 cents to $72.50 a barrel, still some distance from its record high of $78.40 touched on July 14, 2006.


Read more at Reuters.com Hot Stocks News

European Stocks Advance, Led by BHP Billiton, Anglo American, Boliden

(Bloomberg) -- European stocks advanced for a second
day, led by mining companies after a strike in Chile lifted
copper prices. BHP Billiton Ltd. and Anglo American Plc rose.

``For copper, a fair amount of the recent price premium has
come through because of the strikes,'' said Stephen Pope, head of
equity research at Cantor Fitzgerald in London. ``The mining
story is good. We're seeing very strong economic numbers and
that's underpinning'' the shares.


Read more at Bloomberg Stocks News

Roche signs up to $1 bln deal with Alnylam on RNAi

(Reuters) - LONDON/ZURICH, July 9 - Roche Holding AG has signed a deal worth up to $1 billion with Alnylam Pharmaceuticals Inc. , giving it access to the U.S. firm's skills in the new science of RNA interference.



The agreement is the largest drug discovery partnership in the field to date and a further vindication of the emerging area of biotechnology research, which involves blocking disease-causing proteins.


Read more at Reuters.com Mergers News