Asian Stocks Rise Most in Five Weeks; Cnooc, BHP Advance on Oil, Metals

(Bloomberg) -- Asian stocks gained the most in five
weeks, led by Cnooc Ltd. and BHP Billiton Ltd., after prices of
crude oil and metals rose.

``Global growth is continuing to be very strong,'' said
Sean Fenton, who helps manage $832 million at Jenkins Investment
Management in Sydney. ``We expect it to be supportive of
resources shares for some years to come.''


Read more at Bloomberg Stocks News

Judge in US options trial questions govt's case

(Reuters) - Judge Charles Breyer of U.S. District Court in San
Francisco gave prosecutors until early Monday to file papers
supporting their contention that evidence presented so far in
the three-week-old trial is strong enough to be considered by
the jury.




"What evidence is there that he
actually understood the accounting implications of the
backdating of the stock?" Breyer asked.


Read more at Reuters.com Government Filings News

UPDATE 1-Beauty retailer Ulta files for $115 million IPO

(Reuters) - The beauty retailer said in a registration statement with
the U.S. Securities and Exchange Commission that JPMorgan,
Wachovia Securities, Thomas Weisel Partners LLC, Cowen and Co.,
and Piper Jaffray are underwriting the IPO.




Ulta said it is applying to list its stock on the Nasdaq
under the symbol "ULTA" .


Read more at Reuters.com Government Filings News

EOG sees $44.1 mln Q2 gain from forward contracts

(Reuters) - The average price of EOG's natural gas financial price swap
contracts outstanding for 2007 is $9.42 per million Btu and for
2008 is $9.11 per million Btu, the latest SEC filing said.




Read more at Reuters.com Market News

Abbott, Macy's and Research In Motion: U.S. Equity Option Market Movers

(Bloomberg) -- The following is a list of companies
with unusual option trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Option trading
and stock prices are as of 4 p.m. in New York.

Each call option gives investors the right to buy 100 shares
of a company at a certain price, called the strike price, by a
given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

Wheat Rises After Analyst Predicts Smaller-Than-Expected U.S. Winter Crop

(Bloomberg) -- Wheat futures rose in Chicago and
Kansas City after an analyst predicted the U.S. winter-wheat crop
would be smaller than the government forecast last month.

U.S. growers will produce 1.583 billion bushels this year,
1.6 percent less than the U.S. Department of Agriculture's June
11 estimate of 1.609 billion bushels, Informa Economics Inc. said
today in a report to clients. As much as six times normal
moisture fell in the southern Great Plains in the past month,
delaying the harvest and damaging plants.


Read more at Bloomberg Commodities News

Chrysler sales outside US up 10 pct in 2nd quarter

(Reuters) - Sales rose 3.3 percent in the quarter to 735,837 vehicles
in the quarter worldwide for Chrysler, which said sales in the
United States rose 1.5 percent to 575,844 units.




Read more at Reuters.com Market News

CME "confident" CBOT $11.6 bln deal will get done

(Reuters) - CBOT members and shareholders and CME shareholders will wrap up voting on Monday on CME's plan to buy the Chicago Board of Trade's parent for about $11.6 billion, including a one-time special dividend to be paid by CBOT.




The deal would put the numbers one and two U.S. futures marts together to create the world's largest derivatives exchange.


Read more at Reuters.com Business News

Macy's Shares Have Biggest Rally in 2 Weeks on Renewed Buyout Speculation

(Bloomberg) -- Shares of Macy's Inc., the second-
largest U.S. department-store chain, rose the most in two weeks
on renewed speculation the company may be bought.

It was the third consecutive Friday that the shares rose on
the possibility of a buyout.


Read more at Bloomberg Stocks News

Yen Declines to a Record Low Against Euro on Difference in Interest Rates

(Bloomberg) -- The yen fell to an all-time low
against the euro and weakened versus the dollar as rising global
interest rates prompted Japanese investors to buy assets abroad.

The yen fell against all 16 of the most-actively traded
currencies as Japan's 0.5 percent interest rate, the lowest among
developed nations, encouraged investors to borrow in the country
and seek higher returns overseas in a practice known as the carry
trade. The Bank of England yesterday lifted borrowing costs to a
six-year high and the European Central Bank signaled it may raise
its interest rate as soon as September.


Read more at Bloomberg Currencies News

Oil Rises on Concern Nigeria Unrest, North Sea Maintenance Will Cut Supply

(Bloomberg) -- Crude oil rose to a 10-month high on
concern unrest in Nigeria and maintenance of a North Sea oil
field will curb supply as unexpected refinery closures cut fuel
output.

The main militant group in Nigeria's oil-producing Niger
River delta region condemned the kidnapping of a 3-year-old
British girl. Brent oil, produced in the North Sea, is also
rising because of planned maintenance at a field in the region.
Refineries in California, Texas and Kansas have shut or slowed
operations this week.


Read more at Bloomberg Energy News

Mexico's GAP June passenger traffic up 22 percent

(Reuters) - GAP said the numbers were helped by a favorable comparison
with June last year, after Mexico in April 2006 temporarily
suspended flights of local carrier Aerocalifornia over safety
concerns, briefly cutting passenger numbers.




International traffic fell by 3.1 percent to 624,800 people
in June this year, partly due to less demand for flights to
Phoenix.


Read more at Reuters.com Market News

Dow Jones says News Corp. deal not yet reached

(Reuters) - NEW YORK, July 6 - Rupert Murdoch's News Corp. has not yet reached a deal to buy Dow Jones & Co. Inc. as discussions continue, representatives for Dow Jones and its controlling Bancroft family said on Friday.



Talks are continuing over such issues as price, a source familiar with the matter also said on Friday.


Read more at Reuters.com Mergers News

UPDATE 1-Ottawa says no plans to sell nuclear agency stake

(Reuters) - The Toronto Star said on Friday that Natural Resources
Minister Gary Lunn has been leading privatization discussions
with General Electric Co. It quoted a source close to GE
as saying the company is confident that this is a "done deal."




"There are no formal negotiations underway with anyone,"
Kathleen Olson, spokeswoman for Lunn, told Reuters.


Read more at Reuters.com Mergers News

Sugar Rises as Crude Oil Rally May Boost Demand for Brazil's Cane Ethanol

(Bloomberg) -- Sugar in New York rose to the highest
in more than a week on speculation that rising crude oil prices
will increase demand for ethanol, the gasoline substitute made
from sugar cane.

Crude oil reached a 10-month high of $72.94 a barrel today
on speculation unrest in Nigeria, the biggest African producer,
may disrupt supplies. Mills in Brazil, the world's largest sugar
producer, are using more than half the country's cane crop to
make fuel instead of sweetener.


Read more at Bloomberg Commodities News

UPDATE 1-Alcan says Alcoa bid lacking, mulls options

(Reuters) - Alcan spokeswoman Anik Michaud declined to comment on
reports that Rio Tinto , the world's
second-largest miner, has asked investment banks to advise it
on options, including a possible counterbid for Alcan.




"We've said that from the outset that we were in discussion
with third parties," Michaud said. She declined to identify the
third parties.


Read more at Reuters.com Government Filings News

Gold and Silver, Little Changed in New York, May Gain on Dollar's Decline

(Bloomberg) -- Gold and silver, little changed in
New York, may rise on speculation a decline in the value of the
dollar will boost the appeal of precious metals as alternative
investments.

Gold generally moves in the opposite direction of the U.S.
dollar, which fell against the euro even after a report showed
more jobs were created last month than forecast. Before today,
gold had gained 2 percent this year while the dollar had
dropped 3 percent against the euro.


Read more at Bloomberg Commodities News

S.Africa maize gains, seen tracking Chicago

(Reuters) - South Africa's benchmark maize contracts ended higher on Friday, extending gains from earlier this week, and dealers said the local market will probably continue to track Chicago prices next week.

July white maize extended its gains by 2.42 percent in the session to close at 1,651 rand a tonne. Its softest level this week was 1,546 rand.


Read more at Reuters Africa

US STOCKS-Indexes dip at open; job data raises rate fears

(Reuters) - The Dow Jones industrial average was down 17.24
points, or 0.13 percent, at 13,548.60. The Standard & Poor's
500 Index was down 0.96 point, or 0.06 percent, at
1,524.44. The Nasdaq Composite Index was down 0.80
point, or 0.03 percent, at 2,655.85.




Read more at Reuters.com Bonds News

Dollar Gains Most Versus Yen in Three Weeks on U.S. Job Growth During June

(Bloomberg) -- The dollar gained the most in three
weeks against the yen after a government report showed the U.S.
economy created more jobs last month than economists' forecast.

Evidence the economy is accelerating from a first-quarter
slowdown pushed the dollar higher against eight of the Group of
10 currencies today. Strength in employment may erase speculation
the Federal Reserve will reduce borrowing costs. Japan's currency
fell to a record low against the euro as rising global interest
rates prompted Japanese investors to buy assets abroad.


Read more at Bloomberg Currencies News

June job growth tops forecasts

(Reuters) - The Labor Department revised its estimate for May job growth up to 190,000 from a previously reported 157,000 and said there were 122,000 new jobs in April instead of the 80,000 it previously estimated.




Overtime hours and the average workweek both increased in June, which may fan fears about inflation pressures in tightening labor markets. The national unemployment rate was 4.5 percent in June, unchanged from May.


Read more at Reuters.com Economic News

Wendy's 2nd-quarter same-store sales rise

(Reuters) - Wendy's last month said it was putting itself up for sale
and slashed its full-year earnings forecast due to
lower-than-expected same-store sales and increased commodity
costs.




Read more at Reuters.com Market News

Rio hires banks for Alcoa/Alcan options: paper

(Reuters) - Rio declined to comment.




Alcan is the world's third-largest maker of primary
aluminium, behind Alcoa and Russia's Rusal. An Alcoa-Alcan
link-up, or an Alcan-Rio combination would top Rusal.


Read more at Reuters.com Business News

US STOCKS-Futures little changed, June payrolls loom

(Reuters) - NEW YORK, July 6 - Wall Street was poised to open
little changed on Friday before a key employment report that
could shed light on the economy and the profit outlook.




In deal news, Advanced Medical Optics Inc. offered
to buy larger eye-care company Bausch & Lomb Inc. for
$4.23 billion, topping a rival offer of $3.67 billion from
private equity firm Warburg Pincus [WP.UL], the two companies
said late on Thursday. For details, see [ID:nN05385353].


Read more at Reuters.com Bonds News

Stock futures flat before payrolls, Bausch & Lomb up

(Reuters) - In deal news, Advanced Medical Optics Inc. offered to buy larger eye-care company Bausch & Lomb Inc. for $4.23 billion, topping a rival offer of $3.67 billion from private equity firm Warburg Pincus , the two companies said late on Thursday.




Bausch & Lomb's stock gained 7.2 percent in Europe, while Advanced Medical Optics' shares rose 1.5 percent.


Read more at Reuters.com Business News

Yen hits record low vs euro, dollar steadies before data

(Reuters) - The yen fell to record lows versus the euro and dropped against the dollar on Friday as the market continued to focus on the carry trade, while the dollar maintained Thursday's gains ahead of a key U.S. jobs report.

Analysts said the yen's continued weakness is caused by investors selling the low yielding currency to fund purchases of higher yielding assets.


Read more at Reuters Africa

China's CSI 300 Index Surges by Most in Six Months: World's Biggest Mover

(Bloomberg) -- China stocks rose the most in six
months, led by Shenzhen Development Bank Co. and Citic Securities
Co., on speculation the government will take measures to support
the market after the benchmark index fell for a third week.

The CSI 300 Index climbed 172.85, or 4.9 percent, to close
at 3710.28, its biggest gain since Jan. 15 and the largest
percentage move among markets included in global benchmarks.
Tianjin FAW Xiali Automobile Co. was one of 15 stocks on the
index that advanced by the daily limit.


Read more at Bloomberg Stocks News

S.Africa 3-month T-bill discount rate flat at 9.1 pct

(Reuters) - The average discount rate for South African three-month Treasury Bills was steady at 9.10 percent on Friday, as was the average yield at 9.31 percent, the Reserve Bank said.

Applications for the 2.3 billion rand of bills on offer totalled 6.044 billion rand.


Read more at Reuters Africa

West Bromwich Building Society Plans $1.2 Billion of Mortgage-Backed Debt

(Bloomberg) -- West Bromwich Mortgage Company Ltd., a
unit of U.K. lender West Bromwich Building Society, plans to sell
575 million pounds ($1.15 billion) of bonds backed by home loans.

The bonds for the West Bromwich, England-based lender will
package buy-to-let loans, according to an e-mail from Barclays
Capital, which is managing the sale with Citigroup Inc.


Read more at Bloomberg Bonds News

U.K. FTSE 100 Benchmark Advances, Paced by BP, Shell; BHP Billiton Gains

(Bloomberg) -- U.K. stocks climbed. BP Plc and Royal
Dutch Shell Plc rose on a positive research note from Deutsche
Bank AG and as the price of crude oil traded near a 10-month
high. Shares of BHP Billiton also gained.

The benchmark FTSE 100 Index climbed 23.80, or 0.4 percent,
to 6659 at 9:50 a.m. in London. The FTSE All-Share Index rose 0.3
percent to 3438.55. Ireland's ISEQ Index jumped 0.4 percent to
9393.20.


Read more at Bloomberg Stocks News

EBay Chief Meg Whitman Ignites Growth With PayPal Service, Beating Google

(Bloomberg) -- EBay Inc.'s Meg Whitman is doing what
most Internet chiefs can only dream of: She's beating Google
Inc. in at least one corner of the Web.

In recent surveys, the world's largest auctioneer found
that less than one out of five users of Google Inc.'s Checkout
online payment service was happy with it. At EBay's PayPal, the
figure was more than double that. Meanwhile, PayPal, bought by
EBay for $1.5 billion in 2002, has widened its lead over
Checkout since the holiday season.


Read more at Bloomberg Exclusive News

Copper Futures Fall as Summer Holidays Curb Industrial Demand; Zinc Drops

(Bloomberg) -- Copper prices fell in Asia as demand
waned during the northern hemisphere summer, traditionally a
weak period for demand due to holidays.

The slowdown ``makes for a weaker physical market, which
weighs on the futures market,'' Wu Jian Jian, an analyst at
Zhejiang Yongan Futures, said. ``In the same way, the weakness
in Shanghai spilled over to the LME.''


Read more at Bloomberg Commodities News

UPDATE 1-Merrill Lynch outbids Goldman on Berenice

(Reuters) - The bid by Merrill Lynch risks pushing Goldman Sachs out of
the race for Berenice days after the investment bank abandoned
plans to purchase another Italian fund, Tecla.




Goldman Sachs has offered 725 euros a share for Berenice,
which is controlled by Italian real estate group Pirelli RE
, through its Zwinger vehicle in a bid that runs until
July 20.


Read more at Reuters.com Mergers News

Rand a tad weaker as dollar holds gains

(Reuters) - South Africa's rand weakened slightly versus the dollar on Friday after the dollar staged a mild recovery against major currencies, but traders said the local unit was not likely to weaken further.

The rand was trading at 7.0350 versus the dollar at 0640 GMT, about 0.2 percent softer than its New York close of 7.0150 on Thursday.


Read more at Reuters Africa

UPDATE 1-Peugeot Citroen reports flat 1st-half unit sales

(Reuters) - The automaker said that for the full year it expected to see
continued progress in Europe led by demand for its newly
launched Peugeot 207 hatchback and the coupe-cabriolet version
as well as the Citroen C4 Picasso multi-purpose vehicle and the
bigger version of the Grand C4 Picasso.




The arrival of the Peugeot 4007 and Citroen C-Crosser
four-by-four cars as well as the Peugeot 308 compact car and the
station wagon version of the smaller 207 are also expected to
help sales.


Read more at Reuters.com Market News