Celestica, Loblaw, Potash, Suncor, Thomson: Canadian Equity Market 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 37.16, or 0.3
percent, to 14,105.32 in Toronto.


Read more at Bloomberg Stocks News

UPDATE 1-TSMC Q2 profit falls, but recovery under way

(Reuters) - TAIPEI, July 26 - The world's largest contract chip
maker, Taiwan's TSMC , posted a 25 percent fall
in quarterly profit, but the result improved from the previous
quarter thanks to fresh chip demand and was in line with analyst
expectations.




After a dismal start to the year, clients are placing big
semiconductor orders for new-generation personal computers,
mobile phones and other consumer gadgets, boding well for TSMC
and rival United Microelectronics Corp.
in the second half.


Read more at Reuters.com Market News

Czech Central Bank May Increase Interest Rate to the Highest In Five Years

(Bloomberg) -- The Czech central bank probably will
raise its benchmark interest rate by a quarter-point to the
highest in almost five years to curb accelerating inflation, a
survey of economists shows.

The bank's seven-member board will lift the 14-day repurchase
rate, now the lowest in the European Union, to 3 percent today in
the second increase this year, according to 21 of 23 economists in
a Bloomberg survey. Two forecast no change. The Prague-based
central bank typically announces its decision around noon.


Read more at Bloomberg Currencies News

Asian Stocks Decline, Led by BHP, Miners on Metals Prices; Nomura Surges

(Bloomberg) -- Asian stocks fell after Nippon
Electric Glass Co. and Advantest Corp. reported lower earnings
and metals prices slumped.

BHP Billiton Ltd. slid after copper and zinc prices fell,
while Nippon Electric Glass Co. plunged the most in two decades.
Nomura Holdings Inc. jumped the most in five years and Hyundai
Motor Co. rose for a ninth day after reporting net income that
beat analyst estimates.


Read more at Bloomberg Stocks News

Combots, Repower, IDS Scheer, Lufthansa, Vossloh: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 0.3 percent. The index provides
an estimate of the DAX Index, based on trading in DAX futures
after the Xetra electronic market closes. The DAX fell 1.5
percent to 7692.55 on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Nordstrom sells Faconnable brand for $210 million

(Reuters) - The transaction is expected to close at the end of August,
Nordstrom said.




Nordstrom bought Faconnable, a brand of upscale apparel and
accessories, in 2000 for $169 million, it said in a statement.


Read more at Reuters.com Mergers News

China's Debt Rating Raised to A1 by Moody's on Foreign Reserves, Economy

(Bloomberg) -- China's debt rating was upgraded by
Moody's Investors Service, citing the country's swelling
foreign-currency reserves, surging exports and improvements to
the banking system.

The country's long-term foreign-currency rating jumped to
A1, the fifth-highest ranking, from A2, the ratings company said
in a statement today.


Read more at Bloomberg Emerging Markets News

Weekly Charts Suggest Euro's Rally to Record High Is Over, Citigroup Says

(Bloomberg) -- Investors should sell the euro
against the U.S. dollar because technical charts signal the
currency may slide to $1.3400, said analysts at Citigroup Global
Markets Inc.

``There is a danger that a deeper correction toward $1.3400
may be on the cards,'' analysts led by New York-based global head
of currency strategy Tom Fitzpatrick wrote in a research note
yesterday.


Read more at Bloomberg Currencies News

Cabot third-quarter profit falls

(Reuters) - Net sales and other operating revenues fell to $649 million
from $666 million in the year-ago quarter.




Analysts, on average, had expected a profit of 41 cents per
share on sales of $679.1 million, according to Reuters
Estimates.



Read more at Reuters.com Market News

New Zealand Dollar Falls as Bollard Signals Rate Increase May Be the Last

(Bloomberg) -- New Zealand's dollar fell and bonds
rose after central bank Governor Alan Bollard signaled today's
interest-rate increase may be the last.

The currency declined against 16 of the most-active
currencies as Bollard said the four quarter-percentage point
moves in rates this year to a record 8.25 percent should be
enough to contain inflation. He said the 28 percent rally in New
Zealand's dollar against its U.S. counterpart in the past 12
months is ``not sustainable.''


Read more at Bloomberg Currencies News

Australian Hedge Fund Absolute Capital Halts Withdrawals After CDO Losses

(Bloomberg) -- Absolute Capital Group Ltd., an
Australian hedge fund that invests in collateralized debt
obligations, suspended withdrawals from two of its funds after
forecasting they may lose as much as 6 percent this month.

The firm froze its Yield Strategies Fund and Yield
Strategies Fund NZD, which together have about A$200 million
($177 million) in investments, according to a statement on its
Web site.


Read more at Bloomberg Bonds News

Nikkei seen opening lower, eyes on Sunday election

(Reuters) - Nomura, Japan's largest brokerage, posted a surprise quadrupling of quarterly net profit on Wednesday on strong sales of investment trusts and several major deals, but said it may pull out of the troubled U.S. mortgage market.




"Despite a fall in Chicago futures, Apple's strong results will likely provide some support to the market, and investors may focus on NAND flash maker Toshiba," said Norihiro Fujito, general manager of Mitsubishi UFJ Securities' investment research and information division.


Read more at Reuters.com Hot Stocks News

Intesa Sanpaolo makes 4.4 bln euro CariFirenze bid

(Reuters) - Intesa Sanpaolo said late on Wednesday it would offer to buy
40.3 percent from a group of shareholders including the Ente
CariFirenze foundation for 1.194 ordinary shares for every
CariFirenze share for a value of 2.13 billion euros.




It said it would then make a public offer to buy another 41.1
percent in cash at 6.73 euros per share for a total of 2.3 billion
euros.


Read more at Reuters.com Mergers News

UPDATE 1-MEMC Electronic quarterly earnings double

(Reuters) - For the second quarter, the company earned $163.6 million,
or 70 cents a share, compared with $81.9 million, or 36 cents a
share, in the year-ago quarter.




Sales rose 28 percent to $472.7 million.


Read more at Reuters.com Market News

Australia Dollar Holds Near 18-Year High on August Interest-Rate Rise Bets

(Bloomberg) -- The Australian dollar traded close
to an 18-year high on bets the central bank will raise the
interest rate next month, making the country's bond yields more
attractive for overseas investors.

The local dollar has gained against all 16 most-active
currencies this month as the odds of the Reserve Bank of
Australia raising rates a quarter-point on Aug. 8 climbed to 79
percent from 5 percent at the end of June, according to a Credit
Suisse Group index based on the exchange of interest-rate swaps.
Traders added to bets after a report yesterday showed inflation
was faster than expected in the second quarter.


Read more at Bloomberg Currencies News

Distressed debts rose in July, but remain low -S&P

(Reuters) - The rise could be another sign that bond investors are
demanding a higher premium for holding riskier debt.




"The recent market volatility appears to have resulted in
some repricing, which surfaced most visibly at the 600
basis-point level," Diane Vazza, head of S&P's global fixed
income research group, said in a news release, referring to the
spread over U.S. Treasuries.


Read more at Reuters.com Bonds News

Mexico's peso slumps on US economy; stocks fall

(Reuters) - The peso finished local trading 0.56 percent
weaker at 10.869 per dollar, while the benchmark IPC stock
index slipped 1.14 percent to 31,103.53 points.




U.S. existing-home sales fell more than expected in June,
increasing worries about U.S. economic growth. The United
States buys nearly 90 percent of Mexican exports, and trouble
in the U.S. subprime mortgage sector has weighed on markets in
both countries in recent weeks.


Read more at Reuters.com Bonds News

Japanese Yen, Singapore Dollar, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Wall Street Analysts Failed to Foresee Rally in Amazon Shares For 2nd Time

(Bloomberg) -- Amazon.com Inc.'s second-quarter
profit surprised Wall Street analysts, prompting at least six to
raise their rating on shares of the biggest online retailer.

Shares of Amazon.com, which climbed as much as 28 percent
today, have more than doubled over the past year. Just eight of
the 25 analysts who cover Amazon recommend that investors buy the
stock, according to Bloomberg data.


Read more at Bloomberg Stocks News

STATS ChipPAC quarterly profit falls

(Reuters) - Revenue fell 12 percent to $370.2 million.




Read more at Reuters.com Market News

Chrysler postpones $12 bln auto loan deal

(Reuters) - The buyout is still expected to close because underwriters remain committed to providing financing, market sources told




RLPC.


Read more at Reuters.com Mergers News

Exelon second-quarter earnings rise

(Reuters) - Exelon shares have outperformed the utility industry this
year, rising 23 percent, compared with a 9 percent gain for the
S&P utilities index .




Though still trading at multiyear highs, the index has
dipped in the past two months after hitting an all time high in
May. Utility stocks, often viewed as bond surrogates because of
their high dividend yields, have wobbled due to concerns about
the possibility of rising interest rates.



Read more at Reuters.com Market News

UPDATE 1-FLIR Systems Q2 profit rises, raises 2007 view

(Reuters) - The company said its latest second-quarter results were
helped by a strong demand in its Government Systems and
Commercial Vision Systems divisions, based on which it raised
its 2007 view.




Backlog in the Government System's division was $245
million during the quarter, up $29 million from March 31, 2007.
In the Commercial Vision System's division, backlog was $54
million for the period.


Read more at Reuters.com Market News

Ambac quarterly net income falls 25 pct

(Reuters) - NEW YORK, July 25 - Ambac Financial Group Inc. , a bond insurer, said on Wednesday that second-quarter earnings fell 25 percent, hurt by losses from credit derivatives backed by subprime mortgages. The New York-based company said net income dropped to $173 million, or $1.67 a share, from $238.6 million, or $2.22 a share, a year earlier.



The results were depressed by unrealized mark-to-market losses of $56.9 million, or 36 cents a share, resulting from unfavorable market pricing of collateralized debt obligations largely backed by loans to less credit-worthy home buyers,


Read more at Reuters.com Bonds News

Forrester names new CFO; reports Q2 revenue

(Reuters) - It expects to record a non-cash stock-based compensation
expense of $45 million to 50 million, mostly in years prior to
2003.




For the latest quarter, the company reported total revenues
of $55.2 million. Analysts were expecting revenues of $55.4
million for the quarter, according to Reuters Estimates.



Read more at Reuters.com Government Filings News

Xerox shares fall in early trade

(Reuters) - $19.72.




The reason behind the drop was not immediately clear. Shares of the company this week reached their highest level in seven years.


Read more at Reuters.com Hot Stocks News

Brazil's air trouble due to politics, analysts say

(Reuters) - An air crash that killed at least 199 people in Sao Paulo
last week follows nearly a year of chaotic air travel in which
flight delays and cancellations became routine.




Critics say President Luiz Inacio Lula da Silva appointed
friends and allies rather than career civil servants when he
created the new aviation authority ANAC last year. Previously,
the Air Force controlled civil aviation.


Read more at Reuters.com Bonds News

U.S. existing home sales fell in June

(Reuters) - Economists polled by Reuters were expecting home resales to
fall to a 5.88 million-unit pace from the 5.99 million-unit
rate initially reported for May. Sales were revised in May to
5.98 milion units.




The inventory of homes for sale fell 4.2 percent to 4.196
million units at the end of June, which represents an 8.8
months' supply.


Read more at Reuters.com Bonds News

Florida East Coast shareholders approve buy by Fortress

(Reuters) - The deal is expected to close on or about July 26, the
company said in a statement.





Read more at Reuters.com Mergers News

CORRECTED - CORRECTED-Huntsman unit to buy part of DuPont's fluorochemical b

(Reuters) - Financial terms of the deal were not disclosed.




The deal includes a long-term supply agreement for finished
products and intermediates, but does not include the transfer
of DuPont employees or the sale of DuPont manufacturing assets,
the chemical company said.



Read more at Reuters.com Mergers News

Applied Biosystems Q4 earnings rise

(Reuters) - Net income for the latest quarter included an after-tax
benefit of $8.5 million for discontinued operations related to
the settlement of German tax audits.




Excluding items, the Foster City, California-based company
earned 38 cents a share from continuing operations.



Read more at Reuters.com Market News

Ryder quarterly profit falls

(Reuters) - Earnings for the quarter included 1 cent per share of
restructuring costs related primarily to early debt retirement,
the company said




Analysts had on average expected quarterly earnings per
share of $1.08, according to Reuters Estimates.


Read more at Reuters.com Market News

Temple-Inland 2nd-quarter profit tumbles

(Reuters) - Excluding one-time items, earnings were 59 cents a share,
down from 97 cents a year earlier.





Read more at Reuters.com Market News

UPDATE 1-Voltaire amends IPO to 5.8 mln shr at $9-$11 each

(Reuters) - Earlier, the provider of server and storage switching as
well as software had estimated its IPO at between $12 and $14
per share.




The company said it expects to receive total net proceeds
of $51.4 million assuming an IPO price of $10 a share.


Read more at Reuters.com Government Filings News

FTSE outperforms European markets on GSK, telecoms

(Reuters) - Britain's top share index crawled higher in choppy trade on Wednesday as GlaxoSmithKline and telecoms shares provided support, but worries about the U.S. supbrime market limited gains ahead of key housing data.

At 1150 GMT, Britain's FTSE was up 0.3 percent at 6,518.O after sliding 1.9 percent to a near one-month low in the previous session. The index outperformed benchmarks in Germany and France, which were down sharply.


Read more at Reuters Africa

Luxury group Hermes warns on profits

(Reuters) - Its shares fell almost 3 percent.




Posting first-half revenues in line with expectations on Wednesday, the maker of trademark scarves, perfumes and leather goods, such as the iconic Kelly bag, cut its full-year sales growth forecast for the second time this year and said 2007 operating profit and net profit "should be about the same as in 2006".


Read more at Reuters.com Business News

Colgate profit rises

(Reuters) - Second-quarter Profit was $415.8 million, or 76 cents per share, compared with $283.6 million, or 51 cents per share, a year earlier.




Excluding special items, earnings were 84 cents per share. On that basis, analysts, on average, expected 83 cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-Eagle Bulk buying 26 Supramax vessels for $1.1 billion

(Reuters) - The company plans to fund the deal from a new proposed $1.6
billion revolving credit facility led by Royal Bank of Scotland
Plc.




Eagle Bulk said 21 of the vessels being acquired are under
long-term charters up to 2018. Minimum contracted revenue on
the chartered vessels is about $1 billion.


Read more at Reuters.com Bonds News

Norbord reports second-quarter loss

(Reuters) - Norbord, which makes products such as oriented strand
board, used in construction, reported a loss of 15 million, or
11 cents a share, compared with a year-earlier profit of $33
million, or 23 cents a share.








Read more at Reuters.com Market News

Home loan demand drops to 5-month low

(Reuters) - The Mortgage Bankers Association said its seasonally
adjusted index of mortgage applications, widely considered a
timely gauge of U.S. home sales, for the week ended July 20
decreased 3.6 percent to 609.0, the lowest level since the week
ended February 16 when it stood at 606.6.




The four-week moving average of mortgage applications,
which smooths the volatile weekly figures, was down 0.4 percent
at 621.6.


Read more at Reuters.com Bonds News

M.Stanley says gets bid interest for La Lucette

(Reuters) - The bank added no decision had yet been taken and did not
name the parties who had expressed an interest in La Lucette.




La Lucette had assets of around 2 billion euros as of the
end of 2006, consisting mainly of office and warehouse
buildings.


Read more at Reuters.com Mergers News

UPDATE 1-Shanghai Auto to issue up to 8 bln yuan in bonds

(Reuters) - Shanghai Automotive shares closed up 4.8 percent at 22.93
yuan on Wednesday, outperforming a 2.7 percent gain in the
Shanghai benchmark index .




"Investors are optimistic about the prospects for Shanghai
Auto's own-brand vehicle plan, as the bond sale would provide
substantial funding for the project," said Zhao Shengli, an
analyst with Galaxy Securities.


Read more at Reuters.com Bonds News

SAC hedge fund may sell minority stake-FT

(Reuters) - SAC was not immediately available for comment.







Read more at Reuters.com Mergers News

U.S. Stock-Index Are Little Changed; Boeing, Apple Shares Drop in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before Boeing Co. and Apple Inc. publish earnings and a
report that may show the extent of the slowdown in the housing
market.

Shares of Boeing, the world's largest maker of commercial
airplanes, and Apple, the maker of the iPhone, declined in
Europe. Amazon.com Inc., the world's biggest online retailer,
surged after reporting second-quarter profit that topped
analysts' estimates.


Read more at Bloomberg Stocks News

Australian Wool Prices May Fall as China Stops Applications for Imports

(Bloomberg) -- Wool prices in Australia, the
world's biggest producer and exporter of the fiber, may fall
after China's government stopped taking import applications,
according to a grower-owned forecaster.

``There is talk of price falls of between 5 and 10
percent,'' said Chris Wilcox, the chief economist at Woolmark
Co., in an interview from Melbourne. ``The fears are that mills
that want to buy wool won't be able to get access to a quota to
be able to import wool.''


Read more at Bloomberg Commodities News

European Stocks Decline, Led by Volvo, Randstad; GPC Biotech Tumbles

(Bloomberg) -- European stocks fell after Volvo AB,
the world's second-largest truckmaker, reported earnings that
missed analysts' estimates and Dutch staffing company Randstad
Holding NV said it's ``cautious'' for the third quarter.

Volvo dropped the most in more than two months, while
Randstad, which also fell short of analysts' expectations, headed
for its biggest decline in almost six years. Hermes International
SCA dropped after saying full-year revenue growth will be at the
low end of its forecast range.


Read more at Bloomberg Stocks News

France's CAC 40 Drops; STMicroelectronics, Peugeot, Renault Shares Retreat

(Bloomberg) -- French stocks declined, led by
STMicroelectronics NV, PSA Peugeot Citroen SA and Renault SA.

The CAC 40 Index slid 20.02, or 0.3 percent, to 5887.45 at
9:07 a.m. in Paris. The SBF 120 Index also decreased 0.3
percent.


Read more at Bloomberg Stocks News

Insurers Resolution, Friends Provident agree merger

(Reuters) - Resolution's chairman Clive Cowdery and Chief Executive Mike Biggs will hold the same positions in the combined group.




Read more at Reuters.com Business News

Reckitt results shine as profits rise by a third

(Reuters) - By David Jones



LONDON, July 25 - Britain's Reckitt Benckiser , the world's biggest household cleaning products maker, beat forecasts with a 33 percent rise in second-quarter net profits thanks to cost cuts and sales of new products.


Read more at Reuters.com Market News