Bonds in relief rally on tame core inflation

(Reuters) - U.S. government bonds, which have been hammered by concerns about inflation and fears of rising interest rates globally, also got a reprieve from unexpectedly soft data on industrial output and capacity utilization.




Benchmark 10-year Treasury note yields pulled further back from five-year peaks hit on Wednesday, but still recorded their sixth straight weekly rise after a rout that pushed bond yields across the board above 5 percent last week for the first time since July 2006.


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U.S. lawmaker asks SEC views on Blackstone IPO

(Reuters) - The labor federation has asked the SEC to force changes to
the $4 billion IPO, specifically by requiring Blackstone to
register with the SEC as an investment company and follow the
same regulations governing mutual funds.




Read more at Reuters.com Government Filings News

US STOCKS-Wall St rallies for 3rd session after tame CPI

(Reuters) - NEW YORK, June 15 - U.S. stocks rose for a third
straight day on Friday after tame consumer price data put
aside inflation fears, while an upgrade of bellwether Intel
helped fuel gains in the tech sector.




The Nasdaq climbed to its highest in more than six years,
while the Dow finished the week within about 53 points of its
all-time high, as favorable economic and corporate news
overshadowed worries about interest rates that dominated the
market earlier in the week.


Read more at Reuters.com Bonds News

Norilsk and LionOre ink support agreement

(Reuters) - LionOre advised its investors last week to accept the
Norilsk bid, after Xstrata Plc -- which had made prior
bids -- elected not to match Norilsk's offer.







Read more at Reuters.com Mergers News

Fund manager urges North Pittsburgh to consider sale

(Reuters) - "We believe that the only way that North Pittsburgh Systems
can be competitive going forward is as a part of a larger
organization," Andrew Dakos, a managing member of Full Value
Advisors LLC, told Reuters.




Dakos is a principal of Bulldog Investors, which holds a
stake in North Pittsburgh.


Read more at Reuters.com Mergers News

Argentina bonds, stocks rise on U.S. price data

(Reuters) - Argentine bond prices on the local market fell
Monday-Thursday this week as the yield on the benchmark U.S.
treasury jumped to five-year highs. Higher yields
on U.S. debt make emerging markets debt less attractive for
investors.




"The market improvement is being moved basically by
external factors, the calming U.S. inflation data," said Diego
Zavaleta, trader with Besgamille brokerage.


Read more at Reuters.com Bonds News

Oil Rises to Nine-Month High on Concern Refiners Won't Keep Up With Demand

(Bloomberg) -- Crude oil in New York rose to the
highest price since September on concern that U.S. refiners will
be unable to keep up with growing gasoline demand.

Valero Energy Corp. shut a unit at its Corpus Christi,
Texas, refinery yesterday, according to a state-administered Web
site. Refineries in the U.S. and Canada have unexpectedly shut
units this spring, paring gasoline production for the peak-demand
driving season. U.S. refineries reduced operating rates the past
three weeks, an Energy Department report on June 13 showed.


Read more at Bloomberg Energy News

Brazil's Real Heads for Weekly Gain After U.S. Core Inflation Rate Slides

(Bloomberg) -- Brazil's real rose as a slowdown in
U.S. core inflation eased speculation the Federal Reserve will
raise interest rates, helping maintain demand for Brazil's
higher-yielding, riskier securities.

The real rose 0.8 percent to 1.9105 per dollar at 10:20 a.m.
New York time. It has gained 11.8 percent this year, making it
the best performer among the 16 currencies most traded against
the dollar.


Read more at Bloomberg Currencies News

Fed's Yellen Says Surge in Bond Yields Hasn't Resolved Rate `Conundrum'

(Bloomberg) -- Federal Reserve Bank of San Francisco
President Janet Yellen said the recent increase in long-term bond
yields hasn't altered the so-called ``conundrum'' of low rates
compared with rates on shorter-maturity debt.

``Long-term rates have risen in recent weeks, but not by
nearly enough to resolve what former Fed Chairman Alan Greenspan
coined, `the bond rate conundrum,''' Yellen said in prepared
remarks at Brandeis University in Waltham, Massachusetts.


Read more at Bloomberg Bonds News

Expedia shares up, speculation of going private

(Reuters) - Devitt, who has a "buy" rating on the stock with a price target of $29, said in a note that Stifel Nicolaus was not commenting on the speculation other than "suggesting independently that a deal makes sense."




Devitt said the company has long been in discussions about Liberty Media Corp's 22 percent stake and that TripAdvisor does not receive anything close to its implied valuation of at least $900 million.


Read more at Reuters.com Hot Stocks News

S.African stocks hit fresh peak, mining shares jump

(Reuters) - South African shares broke into fresh record territory on Friday, lifted by a rally in mining stocks like Lonmin and gains in the United States.

The blue chip Top-40 index shot up 1.32 percent to a fresh all-time peak of 26,508.70 points, while the broader All-Share Index gained 1.12 percent to 29,313.78 points, also a new record.


Read more at Reuters Africa

US STOCKS-S&P up 1 pct, Nasdaq at 6-yr high on economic view

(Reuters) - NEW YORK, June 15 - U.S. stocks rallied on
Friday, with the S&P 500 up 1 percent and the Nasdaq climbing
to its highest in a little more than six years, as investors
got some reassuring news about the economy's health from
government data pointing to moderate core inflation, excluding
food and energy.




The Dow Jones industrial average shot up 130
points, or 0.96 percent, to 13,683.06 -- less than 10 points
below its all-time high set on June 1. The Standard & Poor's
500 Index climbed to a session high at 1,538.71, up
slightly more than 1 percent from its close on Thursday. The
Nasdaq Composite Index was up 28.88 points, or 1.11
percent, at 2,628.29.


Read more at Reuters.com Bonds News

C$ rise doesn't signal Canada economy slump -CIBC

(Reuters) - The Canadian dollar was at C$1.0635 to the U.S. dollar, or
94.03 U.S. cents, early on Friday, off the 30-year high of
C$1.0547 to the U.S. dollar it reached last week.




"What seemed to put parity, or even today's ... value out
of reach was the dire implications those currency levels would
pose for the country's manufacturing sector," Jeff Rubin, chief
economist at CIBC World Markets, said in a statement.


Read more at Reuters.com Bonds News

Turkish Benchmark Rallies, Led by Garanti, Isbank: World's Biggest Mover

(Bloomberg) -- Turkey's benchmark stock index had
its biggest one-day gain this year after a report showed U.S.
inflation remained in check. Turkiye Garanti Bankasi AS and
Turkiye Is Bankasi AS paced the advance.

The ISE National 100 Index rallied 1,296.26, or 2.9
percent, to 45,971.8, posting the biggest fluctuation among
equity benchmarks tracked by Bloomberg worldwide. Eighty-six
stocks rose, five dropped and seven were unchanged. The measure
climbed 3.7 percent this week.


Read more at Bloomberg Stocks News

Copper Declines in New York After Chinese Inventories Rise, Imports Fall

(Bloomberg) -- Copper futures fell in New York as
rising stockpiles and falling imports in China signaled
slackening demand in the world's biggest consumer of the metal.

Shanghai copper inventories rose 6.4 percent to 99,773
metric tons, the highest since April 2004, the exchange said
today. China's copper imports fell 32 percent last month from
April, the Beijing-based customs office said today. The price of
the metal has fallen 4.4 percent in the last month partly on
speculation Chinese copper demand will slow.


Read more at Bloomberg Commodities News

UPDATE 1-Colgate says fake toothpaste a low health risk

(Reuters) - NEW YORK, June 15 - Colgate-Palmolive Co. said on Friday that counterfeit toothpaste falsely labeled as "Colgate" posed a low health risk, and that it was picking up the suspected fakes from discount stores in four U.S. states, a day after it warned that they may contain a toxic chemical.



Colgate said on Thursday it found the phony toothpaste in small stores in New York, New Jersey, Pennsylvania and Maryland and was working closely with the U.S. Food and Drug Administration to identify those responsible for the fake products.


Read more at Reuters.com Government Filings News

REFILE-UPDATE 1-US sees April net capital inflow of $111.8 bln

(Reuters) - NEW YORK, June 15 - International investors
bought a net $111.8 billion in U.S. securities in April, up
from a $30.1 billion in March, although purchases of U.S.
Treasury bonds fell to a year low, a government report said on
Friday.




Net April long-term capital inflows, excluding swaps, rose
to $84.1 billion from $51.2 billion in March, the U.S. Treasury
Department said.


Read more at Reuters.com Bonds News

ABN AMRO, Atari, Epicept, Intel, Volvo, Winnebago: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:40 a.m. New York time.

ABN AMRO Holding NV (ABN US): The subject of the biggest
bank takeover likely will beat its per-share earnings target for
2007, board member Huibert Boumeester said. The bank is
positioned to beat the target of at least 2.30 euros a share,
Boumeester said at a Goldman Sachs Group Inc. conference in
Lisbon. ABN Amro's earnings were 2.02 euros per share in 2006.
Shares rose 12 cents to $47.50 in regular trading yesterday.


Read more at Bloomberg Stocks News

US STOCKS-Futures extend gains after CPI data

(Reuters) - S&P 500 futures were up 8.40 points, above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures were up
65 points while Nasdaq 100 futures were up 12 points.




Read more at Reuters.com Bonds News

N.Y. Fed manufacturing index hits highest in a year

(Reuters) - It was the highest reading on the index since June 2006.




The new orders component rose to 17.19 in June from 8.02 in
May, while the prices paid component rose to 42.55 in June from
34.44 in May.


Read more at Reuters.com Economic News

Topps says Madison Dearborn bid beats Upper Deck

(Reuters) - Upper Deck has offered $424 million for Topps while the
Madison Dearborn group has agreed to $385 million.




Topps said Upper Deck offered no evidence how it will
finance the deal. The trading card company also said the Upper
Deck deal had higher regulatory risk and an inadequate break-up
fee in the event the deal fails to close.


Read more at Reuters.com Bonds News

Treasuries Poised for Sixth Weekly Decline Before U.S. Inflation Report

(Bloomberg) -- U.S. Treasuries headed for a sixth
weekly decline before a government report today that will
probably show consumer price inflation accelerated last month.

Yields on benchmark 10-year bonds rose 12 basis points to
5.23 percent this week, while those on Treasury Inflation
Protected Securities climbed 8 points to 2.78 percent, signaling
increased concern about gains in consumer prices.


Read more at Bloomberg Bonds News

Taiwan Stocks Reach Six-Year High, Led by Insurers: World's Biggest Mover

(Bloomberg) -- Taiwan's stocks rose to a six-year
high, posting the biggest fluctuation among markets included in
global benchmarks. Cathay Financial Holding Co. led insurers
higher after lawmakers approved a bill allowing them to invest
more of their assets overseas.

``Parliament's decision gives more room for Taiwan insurers
to maximize profitability by investing globally,'' said Yin Nai-
yun, who oversees $172 million at Prudential Securities
Investment Trust Enterprise in Taipei.


Read more at Bloomberg Stocks News

Eland Platinum Asks JSE to Investigate After Shares Plunged This Week

(Bloomberg) -- Eland Platinum Holdings Ltd., whose
stock plunged 20 percent this week on speculation that potential
bidders pulled out of takeover talks, asked the Johannesburg
stock exchange to investigate volatility in its shares.

The company is still in talks that may affect its shares,
Johannesburg-based Eland said in an e-mailed statement today.
Articles published recently on Mineweb.com contain ``material
inaccuracies'' about Eland, it added.


Read more at Bloomberg Emerging Markets News

Wall St. to lack clear direction as CPI

(Reuters) - No S&P 500 companies were scheduled to report on Friday and the overnight corporate news flow was thin.




Dow Jones futures were down 0.03 percent at 0930 GMT and the indicative Dow Jones index , which tracks the Dow shares as they are traded in Frankfurt, was 0.1 percent lower.


Read more at Reuters.com Hot Stocks News

Santam appoints Ian Kirk new CEO

(Reuters) - South African insurer Santam has appointed Ian Kirk as its new chief executive officer, succeeding Steffen Gilbert who will step down with immediate effect, a company statement said.

Gilbert's departure was "made by mutual agreement," the company said.


Read more at Reuters Africa

Belgium, Groupama, Ericsson, ABSA Plan to Sell Debt: European Bond Alert

(Bloomberg) -- The following is a list of bond sales
denominated in euros or pounds and expected in the coming days
and weeks.

Investment-Grade Sales


Read more at Bloomberg Bonds News

FTSE 100 Stocks Rise, Paced by Sainsbury; Morrison, Tesco Shares Advance

(Bloomberg) -- U.K. stocks rose for the third
day. J Sainsbury Plc led shares of retail companies higher
after a Qatar-backed fund increased its stake in the
supermarket chain.

The benchmark FTSE 100 Index added 27, or 0.4 percent,
to 6676.9 in London at 8:59 a.m. The FTSE All-Share Index
gained 0.4 percent to 3451.10. Ireland's ISEQ Index rose
0.8 percent to 9583.61.


Read more at Bloomberg Stocks News

British Energy Starts Unit 8 at Hinkley Point B Nuclear Plant After Repair

(Bloomberg) -- British Energy Group Plc, which
operates nuclear reactors that can produce about a fifth of the
U.K.'s electricity, restarted Unit 8 of its Hinkley Point B plant,
which had been offline since October.

The 610-megawatt unit started production at about 5 p.m.
yesterday and was running at a reduced output of 90 megawatts at 8
a.m. today, according to a Web site run by National Grid Plc. The
unit had been offline since Oct. 19 for repairs to cracked boiler
tubes.


Read more at Bloomberg Energy News

Trade suspended in Spain's Portland Valderrivas

(Reuters) - Newspaper Expansion on Friday cited sources saying it was
studying the acquisition of TXI, market leader in Texas and with
a presence in California.




Portland declined to comment on the report when contacted by
Reuters.


Read more at Reuters.com Mergers News

Zambia says flooding cuts 2007 maize output

(Reuters) - Floods have cut Zambia's white maize output for the 2006/07 crop season to 1.36 million tonnes from 1.42 million the previous year, a fall of 4.4 percent, Agriculture Minister Ben Kapita said.

"(Zambia's) total maize production has been established to be 1,366,158 tonnes in comparison to production of 1,424,439 tonnes achieved last year," Kapita said in a statement on Thursday.


Read more at Reuters Africa