(Reuters) - TAIPEI, April 25 - ASE , the world's top microchip packaging company, missed forecasts with a 91.6 percent drop in first-quarter net profit on Wednesday as clients' high stockpiles took their toll.
But analysts say a recovery is in sight after new consumer products hit the stores and as Microsoft Corp.'s new Vista operating system is seen spurring demand for PCs, with its full effect widely expected in the second half of the year. Advanced Semiconductor Engineering Inc. earned a net profit of T$1.661 billion for the quarter ended March, lower than T$3.182 billion in the same period a year earlier and T$2.734 billion in the fourth quarter.
Read more at Reuters.com Market News
Tuesday, April 24, 2007
European Stocks Including STM, BP May Fall; Siemens, Alcatel May Advance
(Bloomberg) -- European stocks including STMicroelectronics NV may fall. The region's largest semiconductor maker reported earnings that missed analysts' estimates.
Siemens AG might pace advancing shares after posting a jump in profit that beat expectations. Merck KGaA will probably be active after the drugmaker reported its first quarterly loss in three years.
Read more at Bloomberg Stocks News
Siemens AG might pace advancing shares after posting a jump in profit that beat expectations. Merck KGaA will probably be active after the drugmaker reported its first quarterly loss in three years.
Read more at Bloomberg Stocks News
UPDATE 1-LVMH Q1 sales rise 7 percent, ahead of forecasts
(Reuters) - Excluding currency swings -- which were negative for the group in the first three months -- and acquisitions and disposals, like-for-like growth was 13 percent.
"LVMH will continue its growth in 2007 despite the difficult monetary environment at the beginning of the year," the company said in a statement. It reaffirmed guidance for "significant growth" in 2007 results.
Read more at Reuters.com Market News
"LVMH will continue its growth in 2007 despite the difficult monetary environment at the beginning of the year," the company said in a statement. It reaffirmed guidance for "significant growth" in 2007 results.
Read more at Reuters.com Market News
U.S. Durable Goods Orders Probably Increased Last Month, Survey Shows
(Bloomberg) -- Orders for U.S. durable goods probably rose in March, signaling business spending started to recover as the first quarter ended, economists said before a government report today.
Orders for goods made to last several years rose 2.5 percent following an 1.7 percent gain in February, according to the median of 75 estimates in a Bloomberg News survey of economists. Bookings excluding transportation rose 1.1 percent, the first gain in three months, according to the survey.
Read more at Bloomberg Currencies News
Orders for goods made to last several years rose 2.5 percent following an 1.7 percent gain in February, according to the median of 75 estimates in a Bloomberg News survey of economists. Bookings excluding transportation rose 1.1 percent, the first gain in three months, according to the survey.
Read more at Bloomberg Currencies News
Singapore's Shares Decline, Led by SMRT, ComfortDelgro; Keppel Advances
(Bloomberg) -- Singapore's stocks fell for a second day. SMRT Corp. and ComfortDelgro Corp., the nation's two publicly traded land transport companies, dropped after SMRT said a merger proposal by its rival was ``not relevant.''
``The shares have been riding on a potential merger,'' said Daphne Roth, who advises wealthy clients as Vice President of Equity Research at ABN Amro Private Banking in Singapore. ``The comments that a merger may not materialize has damped the speculation.''
Read more at Bloomberg Stocks News
``The shares have been riding on a potential merger,'' said Daphne Roth, who advises wealthy clients as Vice President of Equity Research at ABN Amro Private Banking in Singapore. ``The comments that a merger may not materialize has damped the speculation.''
Read more at Bloomberg Stocks News
Polish Central Bank May Raise Interest Rates for the First Time Since 2004
(Bloomberg) -- Poland's central bank may raise its benchmark interest rate for the first time since August 2004 to head off inflation triggered by the strongest economic growth in a decade, a survey of economists shows.
Policy makers will raise the seven-day reference rate a quarter-point to 4.25 percent from a record low, according to 15 out of 18 economists surveyed by Bloomberg. Three predicted no change. The decision will be announced after noon in Warsaw.
Read more at Bloomberg Bonds News
Policy makers will raise the seven-day reference rate a quarter-point to 4.25 percent from a record low, according to 15 out of 18 economists surveyed by Bloomberg. Three predicted no change. The decision will be announced after noon in Warsaw.
Read more at Bloomberg Bonds News
Epcos, Merck KGaA, SGL Carbon, Siemens, Wincor: German Equity Preview
(Bloomberg) -- The following stocks may rise or fall in German markets.
Germany's X-DAX Index climbed 0.1 percent to 7283.99. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX fell 0.9 percent to 7270.32 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Germany's X-DAX Index climbed 0.1 percent to 7283.99. The index provides an estimate of the DAX Index, based on trading in DAX futures after the Xetra electronic market closes. The DAX fell 0.9 percent to 7270.32 on the Xetra electronic-trading system.
Read more at Bloomberg Stocks News
Aastra Technologies Earnings and Paladin Labs: Canadian Equity 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 lost 38.64, or 0.3 percent, to 13,590.33 in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index lost 38.64, or 0.3 percent, to 13,590.33 in Toronto.
Read more at Bloomberg Stocks News
UPDATE 1-Goldman in talks to buy S.Korea asset firm-sources
(Reuters) - SEOUL, April 25 - Goldman Sachs is finalising talks to buy a South Korean asset management firm, majority owned by Australia's Macquarie Bank Ltd. , two sources familiar with the situation told Reuters on Wednesday.
Goldman wants to buy Macquarie-IMM Investment Management, in which the Australian investment bank controls 65 percent, with domestic investment firm IMM Co. Ltd. owning the remainder.
Read more at Reuters.com Mergers News
Goldman wants to buy Macquarie-IMM Investment Management, in which the Australian investment bank controls 65 percent, with domestic investment firm IMM Co. Ltd. owning the remainder.
Read more at Reuters.com Mergers News
Copper Falls in Shanghai on U.S., EU Economic Data; Zinc, Aluminum Decline
(Bloomberg) -- Copper futures in Shanghai fell, erasing gains from the previous two days, as worse-than-forecast economic data from the U.S. and Europe raised concern that demand for the metal may lag behind supply.
Purchases of previously owned homes in the U.S., the world's second biggest copper user after China, dropped 8.4 percent last month to an annual rate of 6.12 million, from 6.68 million in February, the National Association of Realtors said yesterday. Industrial orders in the Euro-zone fell 0.7 percent last month.
Read more at Bloomberg Commodities News
Purchases of previously owned homes in the U.S., the world's second biggest copper user after China, dropped 8.4 percent last month to an annual rate of 6.12 million, from 6.68 million in February, the National Association of Realtors said yesterday. Industrial orders in the Euro-zone fell 0.7 percent last month.
Read more at Bloomberg Commodities News
JGBs gain along with Treasuries, eye BOJ outlook
(Reuters) - Treasuries climbed the previous day on data showing existing home sales posted the biggest monthly drop in 18 years in March, reinforcing expectations the Federal Reserve could cut interest rates later this year to help reverse an economic slowdown.
June 10-year futures jumped 0.23 point to 134.20 pulling further away from a three-month low of 133.41 hit last week with some help from a 0.8 percent fall in Nikkei share average .
Read more at Reuters.com Bonds News
June 10-year futures jumped 0.23 point to 134.20 pulling further away from a three-month low of 133.41 hit last week with some help from a 0.8 percent fall in Nikkei share average .
Read more at Reuters.com Bonds News
Singapore's Stocks Advance, Led by Keppel and Cosco on Ship Contracts
(Bloomberg) -- Singapore's stocks advanced. Keppel Corp., the world's biggest rig-builder, climbed after receiving orders to convert tankers into oil production vessels. Cosco Corp. rose after it clinched contracts to build bulk carriers.
The Straits Times Index rose 9.15, or 0.3 percent, to 3383.67 at 9:18 a.m. local time. About three stocks climbed for each one that declined. April futures gained 0.6 percent to 414.9.
Read more at Bloomberg Stocks News
The Straits Times Index rose 9.15, or 0.3 percent, to 3383.67 at 9:18 a.m. local time. About three stocks climbed for each one that declined. April futures gained 0.6 percent to 414.9.
Read more at Bloomberg Stocks News
Forex-Dollar near 2-year low vs euro on rate view
(Reuters) - "The U.S. data was weak, so it's easy to sell the dollar right now," said Takehiko Jimbo, forex manager at Mitsubishi UFJ Trust and Banking, adding it was only a matter of time before the euro climbed to a record high versus the dollar above $1.3670.
It was around 161.50 yen, not far from 162.43 yen touched earlier in the month, the highest since the currency was introduced in 1999.
Read more at Reuters.com Hot Stocks News
It was around 161.50 yen, not far from 162.43 yen touched earlier in the month, the highest since the currency was introduced in 1999.
Read more at Reuters.com Hot Stocks News
South Korea's Won Advances as Report Shows Economy Extends Its Expansion
(Bloomberg) -- South Korea's won rose to near the highest in more than three months as a central bank report showed the economy extended the longest expansion in a decade.
Increasing overseas sales will boost demand for the local currency from exporters and support the stock market, which reached a record yesterday. The won has gained 1.5 percent this month as global investors bought $2.81 billion more Korean equities than they sold, more than 10 times the net purchase for the entire first quarter, stock exchange data showed.
Read more at Bloomberg Currencies News
Increasing overseas sales will boost demand for the local currency from exporters and support the stock market, which reached a record yesterday. The won has gained 1.5 percent this month as global investors bought $2.81 billion more Korean equities than they sold, more than 10 times the net purchase for the entire first quarter, stock exchange data showed.
Read more at Bloomberg Currencies News
New Zealand Dollar Overvalued, May Decline to 82 Yen, TD Securities Says
(Bloomberg) -- New Zealand's dollar is ``massively overvalued'' and will fall 7 percent against the yen in six months, said Stephen Koukoulas, chief Asia-Pacific strategist at TD Securities Ltd.
Strength in the currency, which traded at a 17-year high versus the yen last week, will help cap inflation and see the central bank keep interest rates unchanged tomorrow, Koukoulas said in an interview. The New Zealand dollar is the top performer among the 16 most-actively traded currencies in the past month as the 7.50 percent benchmark rate draws funds from overseas.
Read more at Bloomberg Currencies News
Strength in the currency, which traded at a 17-year high versus the yen last week, will help cap inflation and see the central bank keep interest rates unchanged tomorrow, Koukoulas said in an interview. The New Zealand dollar is the top performer among the 16 most-actively traded currencies in the past month as the 7.50 percent benchmark rate draws funds from overseas.
Read more at Bloomberg Currencies News
Dollar May Fall as Slower Economic Growth Points to Lower Interest Rates
(Bloomberg) -- The dollar may decline to a record low against the euro and drop for a third day against the yen on speculation U.S. data will show the world's largest economy is slowing, suggesting interest rates are more likely to fall.
The U.S. currency suffered a setback yesterday after disappointing existing home sales and consumer confidence. Traders may look beyond estimates for improvement in new home sales and durable goods orders as gross domestic product due April 27 will show the economy expanded at its slowest in more than a year, according to a Bloomberg survey.
Read more at Bloomberg Currencies News
The U.S. currency suffered a setback yesterday after disappointing existing home sales and consumer confidence. Traders may look beyond estimates for improvement in new home sales and durable goods orders as gross domestic product due April 27 will show the economy expanded at its slowest in more than a year, according to a Bloomberg survey.
Read more at Bloomberg Currencies News
UPDATE 1-Travelzoo Q1 net earnings flat; shares fall
(Reuters) - Shares of the company fell more than 16 percent to $30.84 in late electronic trade after closing at $36.88 on the Nasdaq.
First-quarter net earnings were flat at $4.1 million year-over-year. However, earnings per share rose by a penny to 25 cents.
Read more at Reuters.com Market News
First-quarter net earnings were flat at $4.1 million year-over-year. However, earnings per share rose by a penny to 25 cents.
Read more at Reuters.com Market News
Montreal Exchange profit jumps with trading volume
(Reuters) - Excluding a C$2.1 million charge related to fees paid to prepare the initial public offering, adjusted earnings were C$7.6 million, or 27 Canadian cents a share.
That was a penny a share higher than the average estimate of analysts polled by Reuters Estimates.
Read more at Reuters.com Market News
That was a penny a share higher than the average estimate of analysts polled by Reuters Estimates.
Read more at Reuters.com Market News
TREASURIES-Bond prices climb on drop in March home sales
(Reuters) - NEW YORK, April 24 - U.S. Treasuries rose on Tuesday after the sharpest monthly drop in home sales in 18 years and falling consumer confidence boosted expectations of an official interest rate cut.
The March housing report reinforced the view that the Federal Reserve could pare benchmark interest rates later this year to stimulate economic growth. For details see [ID:nN24406503].
Read more at Reuters.com Bonds News
The March housing report reinforced the view that the Federal Reserve could pare benchmark interest rates later this year to stimulate economic growth. For details see [ID:nN24406503].
Read more at Reuters.com Bonds News
Brazil's interest rates seen falling - official
(Reuters) - The central bank last week cut the benchmark Selic lending rate to a record low of 12.5 percent from 12.75 percent.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
SanDisk Shares Upgraded at Citigroup on Outlook for Royalty Revenue
(Bloomberg) -- SanDisk Corp. was upgraded to ``buy'' from ``hold'' at Citigroup Investment Research, which said the world's largest maker of flash-memory cards may get more royalty revenue from its patent-licensing agreement with Hynix Semiconductor Inc.
Citigroup also increased the price it expects the shares to reach to $52 from $44.
Read more at Bloomberg Stocks News
Citigroup also increased the price it expects the shares to reach to $52 from $44.
Read more at Bloomberg Stocks News
UPDATE 2-DuPont reports higher first-quarter earnings
(Reuters) - NEW YORK, April 24 - DuPont Co. , the No. 2 U.S. chemical company, said on Tuesday that first-quarter profit rose 16 percent, spurred by strong seed sales and growth outside the United States that more than offset lower volumes in the U.S. housing and automotive markets.
Profit increased to $945 million or $1.01 a share, from $817 million, or 88 cents a share, a year earlier.
Read more at Reuters.com Market News
Profit increased to $945 million or $1.01 a share, from $817 million, or 88 cents a share, a year earlier.
Read more at Reuters.com Market News
Paccar profit rises on European strength
(Reuters) - Revenue rose 3 percent to $3.98 billion.
Analysts, on average, expected the Bellevue, Washington-based company to earn $1.21 a share on revenue of $3.345 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, expected the Bellevue, Washington-based company to earn $1.21 a share on revenue of $3.345 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
U.S. Steel first-quarter profit rises 7 pct
(Reuters) - In January, U.S. Steel, which had cut domestic capacity because of high customer inventories and foreign imports, said it was ramping up production as demand and prices improved. Chief Executive Officer John Surma said the first quarter looked brighter as customer inventories had leveled off and appeared to be declining.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Avery Dennison posts higher quarterly profit
(Reuters) - The latest results included charges for restructuring and asset impairment totaling 2 cents a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-JetBlue posts quarterly loss after service debacle
(Reuters) - The company said it lost $22 million, or 12 cents per share, in the first quarter, compared with a loss of $32 million, or 18 cents per share, in the year-earlier period.
The loss was lower than Wall Street expected. Analysts anticipated a loss of 19 cents per share, according to Reuters estimates.
Read more at Reuters.com Market News
The loss was lower than Wall Street expected. Analysts anticipated a loss of 19 cents per share, according to Reuters estimates.
Read more at Reuters.com Market News
Whirlpool posts lower net as U.S. demand falls
(Reuters) - ATLANTA, April 24 - Whirlpool Corp. reported a slight decrease in first-quarter profit on Tuesday on lower U.S. demand for appliances amid a slower housing market.
The company also backed its previous forecast for full-year earnings. It said it still expected lower U.S. demand through the first half, with gradual improvement the rest of the year.
Read more at Reuters.com Market News
The company also backed its previous forecast for full-year earnings. It said it still expected lower U.S. demand through the first half, with gradual improvement the rest of the year.
Read more at Reuters.com Market News
Catalina posts lower first-quarter profit
(Reuters) - Excluding a charge related to stock-based compensation expense, Catalina's earnings was 44 cents a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Omnicom first-quarter earnings rise 10 percent
(Reuters) - NEW YORK, April 24 - Omnicom Group Inc. , the world's largest advertising services company, said on Tuesday that quarterly profit rose more than 10 percent and beat expectations, helped by its focus on rapidly growing areas of marketing like China and the Internet.
Omnicom, home to advertising agencies such as BBDO Worldwide and DDB Worldwide, said first-quarter profit increased to $183 million, or $1.09 a share, from $165.7 million, or 93 cents a share, a year earlier.
Read more at Reuters.com Market News
Omnicom, home to advertising agencies such as BBDO Worldwide and DDB Worldwide, said first-quarter profit increased to $183 million, or $1.09 a share, from $165.7 million, or 93 cents a share, a year earlier.
Read more at Reuters.com Market News
Lockheed profit up on tech systems, one-time gains
(Reuters) - NEW YORK, April 24 - Lockheed Martin Corp. said on Tuesday that first-quarter profit rose a greater-than expected 17 percent as the world's largest defense contractor posted higher sales of information systems for government customers and had a number of one-time gains.
Lockheed, maker of F-16 fighter jets, Patriot missiles and an array of systems for the U.S. government, reported quarterly profit of $690 million, or $1.60 per share, compared with $591 million, or $1.34 per share, a year earlier.
Read more at Reuters.com Market News
Lockheed, maker of F-16 fighter jets, Patriot missiles and an array of systems for the U.S. government, reported quarterly profit of $690 million, or $1.60 per share, compared with $591 million, or $1.34 per share, a year earlier.
Read more at Reuters.com Market News
Platinum-Backed Shares Increase on London Debut as Metal's Price Rebounds
(Bloomberg) -- Shares of ETFS Physical Platinum, the first securities backed by platinum, rose on their first day of trading in London as the price of the precious metal rebounded.
The shares gained 92 cents, or 0.7 percent, to $132.92 as of 10:19 a.m. in London. ETF Securities Ltd., which has developed 31 commodity-linked securities since 2005, said in a prospectus last week that each platinum unit represents one 10th of a troy ounce of the metal. HSBC Bank USA was hired to buy and store the platinum for investors.
Read more at Bloomberg Commodities News
The shares gained 92 cents, or 0.7 percent, to $132.92 as of 10:19 a.m. in London. ETF Securities Ltd., which has developed 31 commodity-linked securities since 2005, said in a prospectus last week that each platinum unit represents one 10th of a troy ounce of the metal. HSBC Bank USA was hired to buy and store the platinum for investors.
Read more at Bloomberg Commodities News
Spanish Real Estate Stocks Slump, Led by Astroc on Property Market Concern
(Bloomberg) -- Spanish real-estate and bank stocks tumbled on concern the nation's property boom is imploding.
Grupo Inmocaral SA and Montebalito SA led the slump by developers of homes and offices. Banco Bilbao Vizcaya Argentaria SA, the country's second-biggest bank, and Banco Sabadell SA dropped on speculation bad loans will rise.
Read more at Bloomberg Stocks News
Grupo Inmocaral SA and Montebalito SA led the slump by developers of homes and offices. Banco Bilbao Vizcaya Argentaria SA, the country's second-biggest bank, and Banco Sabadell SA dropped on speculation bad loans will rise.
Read more at Bloomberg Stocks News
Gold gains in Europe, targets $700-mark
(Reuters) - Gold drifted higher on Tuesday to trade below an 11-month high and analysts said the metal may test $700 an ounce on a weaker dollar outlook and firm oil.
Platinum and palladium hovered near recent highs and silver traded above $14 an ounce, with investors awaiting the release of U.S. housing data for clues on the direction of the Federal Reserve's monetary policy.
Read more at Reuters Africa
Platinum and palladium hovered near recent highs and silver traded above $14 an ounce, with investors awaiting the release of U.S. housing data for clues on the direction of the Federal Reserve's monetary policy.
Read more at Reuters Africa
S.Africa maize stocks down at 2.341 mln T end March
(Reuters) - South Africa's maize carryover stocks fell to 2.341 million tonnes at the end of March from 2.846 million tonnes the previous month, data showed on Tuesday.
The statistics from the South African Grain Information Service (SAGIS) somewhat allayed supply fears but nevertheless suggested the country will be cutting it close to avoid a shortage.
Read more at Reuters Africa
The statistics from the South African Grain Information Service (SAGIS) somewhat allayed supply fears but nevertheless suggested the country will be cutting it close to avoid a shortage.
Read more at Reuters Africa
Spanish Stocks Slump, Led by Astroc, BBVA: World's Biggest Mover
(Bloomberg) -- Spanish stocks tumbled after a plunge in shares of Astroc Mediterraneo SA, a developer based in the region of Valencia, fueled concern about the strength of the country's property market.
Grupo Inmocaral SA and Banco Bilbao Vizcaya Argentaria SA led the decline.
Read more at Bloomberg Stocks News
Grupo Inmocaral SA and Banco Bilbao Vizcaya Argentaria SA led the decline.
Read more at Bloomberg Stocks News
Thailand Bonds Gain After Central Bank Lowers 2007 Economic Growth Outlook
(Bloomberg) -- Thailand's government bonds rose on speculation the central bank will further cut rates after it lowered its economic growth forecast for this year. The baht was little changed.
Ten-year yields have fallen more than one percentage point since Jan. 17, when the central bank cut rates for the first time since June 2003. The economy may expand between 3.8 percent and 4.8 percent in 2007, lower than a previous 4 percent to 5 percent range, Mathee Supapongse, the Bank of Thailand's monetary policy department director, said today.
Read more at Bloomberg Bonds News
Ten-year yields have fallen more than one percentage point since Jan. 17, when the central bank cut rates for the first time since June 2003. The economy may expand between 3.8 percent and 4.8 percent in 2007, lower than a previous 4 percent to 5 percent range, Mathee Supapongse, the Bank of Thailand's monetary policy department director, said today.
Read more at Bloomberg Bonds News
Norwegian Krone Advances Amid Expectations Central Bank to Raise Rates
(Bloomberg) -- The Norwegian krone gained against the euro to near a two-month high on expectations the central bank will raise its benchmark interest rate tomorrow for the fifth consecutive time.
The Norges Bank is attempting to curb inflation which accelerated to a four-year high of 1.5 percent in March, 0.4 percentage points above the bank's forecast for inflation in March. A total 17 out of 19 economists surveyed by Bloomberg News expected the central bank to increase the benchmark rate by a quarter-point tomorrow.
Read more at Bloomberg Currencies News
The Norges Bank is attempting to curb inflation which accelerated to a four-year high of 1.5 percent in March, 0.4 percentage points above the bank's forecast for inflation in March. A total 17 out of 19 economists surveyed by Bloomberg News expected the central bank to increase the benchmark rate by a quarter-point tomorrow.
Read more at Bloomberg Currencies News
Carlyle's Grady Says Venture Capital Firms Struggle While Buyouts Boom
(Bloomberg) -- The venture capital industry is struggling as fewer young companies go public and their investors are pressed to sell out earlier than they want, Carlyle Group managing director Robert Grady said.
``We're killing our young before their time,'' Grady, who runs the Washington-based buyout firm's venture unit, said yesterday in an interview at the Milken Institute Global Conference in Beverly Hills, California.
Read more at Bloomberg Exclusive News
``We're killing our young before their time,'' Grady, who runs the Washington-based buyout firm's venture unit, said yesterday in an interview at the Milken Institute Global Conference in Beverly Hills, California.
Read more at Bloomberg Exclusive News
Korean Won, Malaysian Ringgit Drop as Charts Indicate Rallies to Pause
(Bloomberg) -- South Korea's won dropped from the highest since January, as a technical chart some traders watch to predict future price movements indicated the appreciation may have been excessive.
The dollar's relative strength index against the won was 31.035 yesterday, close to the 30 level that suggests its decline may pause. The won has advanced 1.1 percent over the past month as the benchmark share index climbed to a record, helped by optimism economic growth will quicken later this year.
Read more at Bloomberg Currencies News
The dollar's relative strength index against the won was 31.035 yesterday, close to the 30 level that suggests its decline may pause. The won has advanced 1.1 percent over the past month as the benchmark share index climbed to a record, helped by optimism economic growth will quicken later this year.
Read more at Bloomberg Currencies News
Slovene Telekom buys 50 pct of Gibtelecom
(Reuters) - Telekom bought the share from Verizon International of the United States. The contract was signed in agreement with Gibraltar's government, which owns the rest of Gibtelecom.
"This is a small but very prosperous and highly developed European market with strong growth potential," Telekom said in a statement.
Read more at Reuters.com Mergers News
"This is a small but very prosperous and highly developed European market with strong growth potential," Telekom said in a statement.
Read more at Reuters.com Mergers News
Investor, Bankas Snoras, Storebrand 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
Investment-Grade Sales
Read more at Bloomberg Bonds News
Islamic Bond Sales Will Total $30 Billion Over Next Three Years, S&P Says
(Bloomberg) -- Companies and governments seeking to tap oil wealth from the Persian Gulf will sell about $30 billion of Islamic bonds during the next three years, Standard & Poor's said today.
The combined value of Islamic bonds, or sukuk, sold since the emergence of an Islamic finance industry thirty years ago will rise to $100 billion in 2010 from about $70 billion now, the ratings firm said in an e-mailed report.
Read more at Bloomberg Bonds News
The combined value of Islamic bonds, or sukuk, sold since the emergence of an Islamic finance industry thirty years ago will rise to $100 billion in 2010 from about $70 billion now, the ratings firm said in an e-mailed report.
Read more at Bloomberg Bonds News
French Stocks Including Alcatel-Lucent and Accor Fall as Vallourec Rises
(Bloomberg) -- French stocks including Alcatel- Lucent and Accor SA declined as Vallourec SA advanced.
The CAC 40 Index was little changed at 5916.75 at 9:14 a.m. in Paris. The SBF 120 Index dropped 0.1 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index was little changed at 5916.75 at 9:14 a.m. in Paris. The SBF 120 Index dropped 0.1 percent.
Read more at Bloomberg Stocks News
JGBs gain as players unwind curve-flattening trades
(Reuters) - The Ministry of Finance sold 800 billion yen of 20-year bonds with the lowest price falling to 99.85, much weaker than dealer expectations for a result of around 100.05 and sparking selling of longer-dated bonds.
The tick up in long-term yields after the auction prompted market players to reverse short positions in JGB futures as well as short- to medium-term notes.
Read more at Reuters.com Bonds News
The tick up in long-term yields after the auction prompted market players to reverse short positions in JGB futures as well as short- to medium-term notes.
Read more at Reuters.com Bonds News
UPDATE 1-Akzo Nobel Q1 core profit beats expectations
(Reuters) - Akzo Nobel said on March 12 it would sell its pharma unit Organon BioSciences for $14 billion to U.S. drug giant Schering-Plough Corp , surprising investors who expected details of an initial public offering .
First-quarter net profit including the pharma unit fell 1 percent to 246 million euros. The average analyst expectation was 211 million euros.
Read more at Reuters.com Market News
First-quarter net profit including the pharma unit fell 1 percent to 246 million euros. The average analyst expectation was 211 million euros.
Read more at Reuters.com Market News
India's Central Bank Keeps Policy Interest Rate Unchanged as Growth Slows
(Bloomberg) -- India's central bank left its benchmark overnight lending rate unchanged to support slowing economic growth, judging that five increases in the past year are enough to tame inflation.
Governor Yaga Venugopal Reddy kept the repurchase rate at a five-year high of 7.75 percent, the Reserve Bank of India said in a statement in Mumbai today. The reserve requirement for commercial banks was also maintained at 6.5 percent as Reddy forecast Asia's fourth-largest economy to expand ``around'' 8.5 percent this year from 9.2 percent in the previous year.
Read more at Bloomberg Emerging Markets News
Governor Yaga Venugopal Reddy kept the repurchase rate at a five-year high of 7.75 percent, the Reserve Bank of India said in a statement in Mumbai today. The reserve requirement for commercial banks was also maintained at 6.5 percent as Reddy forecast Asia's fourth-largest economy to expand ``around'' 8.5 percent this year from 9.2 percent in the previous year.
Read more at Bloomberg Emerging Markets News
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