Gold Little Changed Amid Speculation Sell-Off on Dollar's Gain Overdone

(Bloomberg) -- Gold was little changed in Asia amid
speculation that yesterday's sell-off, linked to the dollar's
gains and concern about higher global interest, was overdone.

Gold, which generally moves in the opposite direction of the
dollar, fell 1 percent yesterday as the dollar rose 0.4 percent
against the euro. Gold, which becomes less attractive when
interest rates rise because the metal has no fixed returns, also
fell on speculation of increasing global rates.


Read more at Bloomberg Commodities News

Dollar strikes 4-1/2-year high vs yen

(Reuters) - The dollar soared to a 4-1/2-year peak against the yen and an 11-week high versus the euro on Wednesday as a sharp rise in U.S. bond yields boosted the dollar's allure while carry trades proved resilient.

The euro fell to one-month lows against the yen earlier in the session on concerns that rising global bond yields and sluggish stock markets would spark an unwinding of carry trades, where investors use the low-yielding currency for financing investment in high-yielding ones like the New Zealand dollar.


Read more at Reuters Africa

Barclays has plans to sweeten offer for ABN: report

(Reuters) - Barclays is looking at reducing the number of shares it would issue for ABN and replacing them with cash, said the newspaper, quoting people familiar with the situation.




Barclays is not expected to make a decision about restructuring its offer until it becomes clear whether the RBS-led consortium can go ahead with its rival 71.4 billion euro break-up bid for ABN, said the FT.


Read more at Reuters.com Business News

China's Huadian Power to Cut 2008 Spending by Two-Thirds to Boost Profit

(Bloomberg) -- Huadian Power International Corp.,
fourth-largest among China's Hong Kong-listed electricity
producers, plans to cut spending on new plants by two-thirds
next year to increase profitability.

Capital investment may drop to 5 billion yuan ($654 million)
to add 1,200 megawatts of coal-fired capacity in 2008, Zhang
Gelin, head of the Beijing-based utility's securities department,
said yesterday in a phone interview from Beijing. Spending may
total 15 billion yuan this year, Managing Director Chen Jianhua
said March 26.


Read more at Bloomberg Emerging Markets News

Asian Stocks Fall to Two-Week Low on Rising Bond Yields; Toyota Declines

(Bloomberg) -- Asian stocks fell to a two-week low on
concern rising global interest rates will sap demand in the
world's largest economies.

Toyota Motor Corp. and Samsung Electronics Co. led declines
among exporters after yields on U.S. Treasuries climbed to the
highest in five years. BHP Billiton Ltd. and Sumitomo Metal Mining
Co. led mining shares lower after metals prices dropped.


Read more at Bloomberg Stocks News

U.S. Says Hurricanes May Cut Oil Output by 13 Million Barrels This Year

(Bloomberg) -- Hurricanes in the Gulf of Mexico
this year will cut U.S. crude oil production by about 13.2
million barrels and natural gas output by about 86.5 billion
cubic feet, the government said.

The U.S. Energy Department estimates are based on last
month's forecast from the National Oceanic and Atmospheric
Administration for an above-normal hurricane season, with 13 to
17 named storms in the Atlantic Basin. Seven to 10 of them will
likely become hurricanes, and three to five may become major
hurricanes with winds above 111 miles (179 kilometers) an hour.


Read more at Bloomberg Energy News

Oil dips as U.S. gasoline stockpiles seen climbing

(Reuters) - London Brent crude currently seen as more representative of the global market, was down 18 cents at $68.61 a barrel by 0409 GMT, extending a 77 cent drop on Tuesday. Brent's July contract expires on Thursday.




U.S. crude fell 19 cents to $65.16 after a 62 cent fall.


Read more at Reuters.com Hot Stocks News