US STOCKS-Futures rise, nervous market looks to Fed

(Reuters) - Trading could be volatile after news of the demise of
lender American Home Mortgage Investment Corp still
fresh in investors' minds.




On Sunday the co-president of Bear Stearns Cos.
resigned two days after a rating company warned mortgage credit
problems could hurt the investment bank's profits.


Read more at Reuters.com Bonds News

German HSBC Investments freezes ABS fund

(Reuters) - HSBC Investments Deutschland, a unit of HSBC ,
manages institutional assets and mutual funds.




"To protect investors we have suspended expenditures and
withdrawals," HSBC Trinkhaus' company lawyer Norbert Stabenow
told the paper.


Read more at Reuters.com Bonds News

US STOCKS-Futures fall on news of slow jobs growth

(Reuters) - NEW YORK, Aug 3 - U S. stock index futures fell
on Friday after a government report showing
weaker-than-expected job growth last month added to nervousness
on Wall Street about losses in the mortgage industry.




American Home Mortgage Investment Corp. was the
latest casualty of the housing market downturn. The company
said it plans to close most operations on Friday and lay off
nearly 7,000 employees. For details, see [ID:nN02455089].


Read more at Reuters.com Bonds News

Gold Gains on Speculation Dollar's Drop May Revive Demand; Silver Advances

(Bloomberg) -- Gold rose for the first time in a
week in London as the dollar's decline against the euro may
revive investor demand for the precious metal. Silver gained.

Gold has climbed 3.9 percent this year as the dollar fell
3.5 percent against the euro. Investment in StreetTracks Gold
Trust, the biggest exchange-traded fund backed by bullion, fell
last week for the first time in four weeks as the dollar
rebounded, World Gold Council figures show.


Read more at Bloomberg Commodities News

TIPS, A Bad Tip on Inflation in 2006, Lose Value as Oil Closes In on $100

(Bloomberg) -- Treasury investors say inflation is
abating, even if the oil bulls are right and crude heads to $100
a barrel.

Pacific Investment Management Co. and Fidelity Investments
sold Treasury inflation-protected securities maturing next year,
confident that consumer prices will remain in check. Money
managers lost as much as $275 million on so-called TIPS in the
second half of 2006 because oil fell from record highs and
gasoline prices dropped.


Read more at Bloomberg Bonds News

LG Elec shares surge on strong earnings

(Reuters) - "News of Motorola's loss certainly helped LG shares as it highlights its handset margin, which came in higher than competitors," said Kevin Lee, an analyst at Woori Investment and Securities.




The world's fifth-biggest mobile phone maker on Thursday posted a second-quarter net profit of 385 billion won , well above analysts' forecasts. LG had posted a loss of 9.7 billion won a year earlier and a 122.6-billion-won shortfall in the previous quarter.


Read more at Reuters.com Business News

FACTBOX - Why oil prices are near a record high

(Reuters) - FUNDS




Investment flows from pension and hedge funds into commodities including oil have resumed in recent months after a hiatus earlier in the year due to concerns about how the global economy was moving.


Read more at Reuters.com Hot Stocks News

Daewoo Securities Buys 19.9 Percent Stake in Indonesian Brokerage eTrading

(Bloomberg) -- Daewoo Securities Co., South Korea's
largest securities firm by market value, said it bought a 19.9
percent stake in Indonesia's PT eTrading Securities, becoming
the second-biggest owner of Indonesia's largest online brokerage.

Daewoo paid 14.9 billion rupiah ($1.6 million) for the
stake, the first investment in an Indonesian securities firm by
a Korean brokerage, Seoul-based Daewoo said in a statement today.
Aiti Investment and other affiliates own a combined 69 percent
of eTrading.


Read more at Bloomberg Emerging Markets News

Kenya's Equity Bank to buy stake in mortgage firm

(Reuters) - Kenya's Equity Bank and insurance firm British American Investments Company (BAIC), plan jointly to buy a 24.9 percent stake in Housing Finance, the companies said on Thursday.

"Equity advises its shareholders that the bank and BAIC ... have concomitantly signed a conditional sale and purchase agreement with CDC Group for the transfer of 24.9 percent shareholding in mortgage firm, Housing Finance," the companies said.


Read more at Reuters Africa

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

Air Liquide, Prologis, Bancaja, CRH 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

Fair Isaac, Fluor, Office Depot, Palm, Priceline: 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.

American Home Mortgage Investment Corp. (AHM US) fell $2.53,
or 12 percent, to $18.38. The lender specializing in adjustable-
rate mortgages withdrew its fiscal 2007 earnings guidance and
said it will likely have a second-quarter loss.


Read more at Bloomberg Stocks News

Carphone Warehouse, Bancaja, Prologis 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

Barloworld executive quits after appointment seen racist

(Reuters) - The white deputy chairman of South African industrial group Barloworld Ltd resigned on Thursday after a state-owned major investor labelled his appointment as "racist".

Earlier this year Barloworld came under fire by the government's Public Investment Corporation (PIC), which has a 17 percent stake in the group, for having no black executive directors.


Read more at Reuters Africa

China Will Sell $200 Billion In Bonds to Buy Foreign-Exchange Reserves

(Bloomberg) -- China's finance ministry plans to
sell 1.55 trillion yuan ($200 billion) of bonds to buy foreign-
exchange reserves that will be managed by a new investment fund,
Xinhua News Agency reported.

The Ministry of Finance is setting up the State Investment
Co. that will purchase a portion of the country's record $1.2
trillion foreign-exchange reserves from the central bank to seek
higher returns in global markets. The bonds will mature in more
than 10 years, Xinhua said today without elaborating.


Read more at Bloomberg Bonds News

UPDATE 1-Canada eyes security concerns in foreign takeovers

(Reuters) - Ottawa has said it will soon name a panel of experts tasked
with recommending changes to foreign investment and competition
policy before the next budget in early 2008.




"One of the elements they're going to look at is foreign
direct investment. It's the Investment Canada Act, it's the
Competition Act and also maybe the need to have a security
clause in the Investment Canada Act," Industry Minister Maxime
Bernier said in Edmonton.


Read more at Reuters.com Government Filings News

PIMCO's Gross: "Subprime crisis" not isolated

(Reuters) - Gross, the chief investment officer of Pacific Investment
Management Co., or PIMCO, also said in his July investment
outlook that the crisis would prompt the Federal Reserve to
lower the benchmark interest rate by year-end.




"To death and taxes you can add this to your list of
inevitabilities: the subprime crisis is not an isolated event
and it won't be contained by a few days of headlines in The New
York Times," he said.


Read more at Reuters.com Mergers News

Deka Hires Pimco's Discher-Remmlinger to Manage Emerging Market Bonds

(Bloomberg) -- DekaBank Deutsche Girozentrale, which
runs Germany's second-biggest mutual-fund manager, hired Pacific
Investment Management Co.'s Michael Discher-Remmlinger to manage
its emerging market funds.

Discher-Remmlinger will start on Aug. 1 as a senior
portfolio manager in Deka's emerging markets bond team, a
spokeswoman for the Frankfurt-based bank said today.


Read more at Bloomberg Emerging Markets 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

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