(Bloomberg) -- Personal spending in the U.S. probably increased in March as incomes grew, giving the economy a lift heading into the second quarter, economists said before a report today.
The Commerce Department will report that spending increased 0.5 percent following a 0.6 percent gain a month earlier, according to the median estimate in a Bloomberg News survey of 58 economists. Other reports may show slower growth in construction and U.S. business activity.
Read more at Bloomberg Bonds News
Sunday, April 29, 2007
U.K. Pound May Rise Versus Dollar on Speculation BOE to Lift Interest Rate
(Bloomberg) -- The U.K. pound may advance before U.K. and U.S. reports this week that will probably reinforce views that the interest-rate premium the pound has over the dollar will widen further.
The pound fell last week as the rally that pushed it to a 26-year high versus the dollar was judged by traders as being too rapid. Data this week may show money supply growth quickened in March and gains in house prices held above 10 percent in the three months to April. U.S. reports may show personal spending grew at a slower pace in March while inflation slowed.
Read more at Bloomberg Currencies News
The pound fell last week as the rally that pushed it to a 26-year high versus the dollar was judged by traders as being too rapid. Data this week may show money supply growth quickened in March and gains in house prices held above 10 percent in the three months to April. U.S. reports may show personal spending grew at a slower pace in March while inflation slowed.
Read more at Bloomberg Currencies News
Air Liquide, Antevenio, Carrefour and Belvedere: French Equity Preview
(Bloomberg) -- The following stocks may rise or fall on the Paris stock exchange today. Symbols are in parentheses after company names. Prices are from the April 27 close.
The benchmark CAC 40 Index slipped 13.67, or 0.2 percent, to 5930.77. The broader SBF 120 Index also declined 0.2 percent.
Read more at Bloomberg Stocks News
The benchmark CAC 40 Index slipped 13.67, or 0.2 percent, to 5930.77. The broader SBF 120 Index also declined 0.2 percent.
Read more at Bloomberg Stocks News
Indian Government Bonds Drop on Speculation Banks Will Sell to Raise Cash
(Bloomberg) -- India's 10-year bonds fell for a third day as banks sold debt to raise cash, after increasing reserves to meet new central bank regulations.
Yields rose to the highest in more than three weeks after banks were required to raise cash set aside as reserves to 6.5 percent of deposits from 6.25 percent, starting from April 28. That drained 77.5 billion rupees ($1.9 billion) from the banking system. Bonds also fell on concern payment for government debt sold on April 27 will further reduce banks' spare cash.
Read more at Bloomberg Bonds News
Yields rose to the highest in more than three weeks after banks were required to raise cash set aside as reserves to 6.5 percent of deposits from 6.25 percent, starting from April 28. That drained 77.5 billion rupees ($1.9 billion) from the banking system. Bonds also fell on concern payment for government debt sold on April 27 will further reduce banks' spare cash.
Read more at Bloomberg Bonds News
U.K. House Prices Gain Most in Almost Four Years in April, Hometrack Says
(Bloomberg) -- U.K. house prices advanced the most in almost four years in April as London buyers snapped up properties, according to a survey by Hometrack Ltd.
The average cost of a home in England and Wales rose an annual 6.8 percent, the most since June 2003, to 174,600 pounds ($350,000), the London-based research company said today. Prices rose 0.7 percent on the month. The figures are based on a survey of 3,500 real-estate agents.
Read more at Bloomberg Bonds News
The average cost of a home in England and Wales rose an annual 6.8 percent, the most since June 2003, to 174,600 pounds ($350,000), the London-based research company said today. Prices rose 0.7 percent on the month. The figures are based on a survey of 3,500 real-estate agents.
Read more at Bloomberg Bonds News
Gold Falls in Asia as Japan Holiday Reduces Investor Demand; Silver Drops
(Bloomberg) -- Gold fell in Asia today amid reduced investor demand due to a national holiday in Japan. Silver also fell.
Gold, which reached a two-week low of $671.15 on April 27, last week fell for the first week in eight as investors bet the recent rise to an 11-month high was overdone. Trading will be subdued because of a public holiday in Japan today, May 3 and May 4, and in China from tomorrow until May 4.
Read more at Bloomberg Commodities News
Gold, which reached a two-week low of $671.15 on April 27, last week fell for the first week in eight as investors bet the recent rise to an 11-month high was overdone. Trading will be subdued because of a public holiday in Japan today, May 3 and May 4, and in China from tomorrow until May 4.
Read more at Bloomberg Commodities News
Telkom Indonesia's First-Quarter Profit Drops on Rising Connection Costs
(Bloomberg) -- PT Telekomunikasi Indonesia, the nation's biggest company by market value, reported first-quarter profit fell 12 percent as higher costs of using rivals' networks offset gains in subscribers at its mobile-phone unit.
Unaudited net income at the state-owned telecommunications company known as Telkom declined to 3.04 trillion rupiah ($335 million) in the three months ended March 31, from 3.46 trillion rupiah a year earlier, the company said in an e-mailed statement yesterday. Telkom has yet to announce its 2006 earnings.
Read more at Bloomberg Emerging Markets News
Unaudited net income at the state-owned telecommunications company known as Telkom declined to 3.04 trillion rupiah ($335 million) in the three months ended March 31, from 3.46 trillion rupiah a year earlier, the company said in an e-mailed statement yesterday. Telkom has yet to announce its 2006 earnings.
Read more at Bloomberg Emerging Markets News
ICICI Bank's Stock May Decline on Plans for India's Biggest Sale of Shares
(Bloomberg) -- ICICI Bank Ltd.'s plan for the biggest share sale by an Indian company may prompt investors to sell its stock on concern it could dilute earnings of the nation's largest lender by market value.
The bank plans to raise 200 billion rupees ($4.9 billion) by selling stock in India and American depositary shares in June, Chief Executive K.V. Kamath said April 28. Its equity will increase 20 percent. Mumbai-based ICICI raised 80 billion rupees in 2005 to meet demand for loans from companies and consumers in the world's fastest-growing major economy after China.
Read more at Bloomberg Emerging Markets News
The bank plans to raise 200 billion rupees ($4.9 billion) by selling stock in India and American depositary shares in June, Chief Executive K.V. Kamath said April 28. Its equity will increase 20 percent. Mumbai-based ICICI raised 80 billion rupees in 2005 to meet demand for loans from companies and consumers in the world's fastest-growing major economy after China.
Read more at Bloomberg Emerging Markets News
IJM Corp, U.K. Government, Saad Planning Debt Sales: Islamic Bond Alert
(Bloomberg) -- The following is a list of pending Islamic bond sales. The securities comply with the religion's ban on paying interest and on investing in companies that have businesses in alcohol, tobacco or gaming.
IJM CORP., Malaysia's second-largest builder, plans to raise 1.42 billion ringgit ($415 million) in May from an Islamic bond sale to help fund a toll road outside the capital. IJM's toll- road unit Lebuhraya Kajang-Seremban Sdn. will gauge investor demand over the next two weeks before offering the securities to investors, said Kok Tuck Cheong, managing director at AmInvestment Bank Bhd., which is arranging the sale with Bank Muamalat Malaysia Bhd.
Read more at Bloomberg Bonds News
IJM CORP., Malaysia's second-largest builder, plans to raise 1.42 billion ringgit ($415 million) in May from an Islamic bond sale to help fund a toll road outside the capital. IJM's toll- road unit Lebuhraya Kajang-Seremban Sdn. will gauge investor demand over the next two weeks before offering the securities to investors, said Kok Tuck Cheong, managing director at AmInvestment Bank Bhd., which is arranging the sale with Bank Muamalat Malaysia Bhd.
Read more at Bloomberg Bonds News
UPDATE 1-Peru miners say talks with gov't failed, strike on
(Reuters) - LIMA, April 29 - Peru's largest miners' union on Sunday rejected a last-minute government proposal to avert a nationwide strike, and said an indefinite walkout would begin at midnight.
The two sides had negotiated at length since Thursday to try to reach an accord, but the talks faltered, according to Luis Castillo, president of the National Federation of Metallurgic and Steel Miners.
Read more at Reuters.com Bonds News
The two sides had negotiated at length since Thursday to try to reach an accord, but the talks faltered, according to Luis Castillo, president of the National Federation of Metallurgic and Steel Miners.
Read more at Reuters.com Bonds News
Indonesia Inflation Probably Held at Highest Rate in Three Months in April
(Bloomberg) -- Indonesia's inflation probably held at a three-month high in April, reducing the scope for the central bank to further cut interest rates to spur growth.
Consumer prices rose 6.5 percent from a year earlier, matching the gain reported in March, according to the median forecast of 21 economists surveyed by Bloomberg. The Central Statistics Bureau will release the data tomorrow in Jakarta.
Read more at Bloomberg Bonds News
Consumer prices rose 6.5 percent from a year earlier, matching the gain reported in March, according to the median forecast of 21 economists surveyed by Bloomberg. The Central Statistics Bureau will release the data tomorrow in Jakarta.
Read more at Bloomberg Bonds News
Allgreen, Ascott, CapitaLand, Chip Eng Seng: Singapore's Equity Preview
(Bloomberg) -- The following shares may rise or fall in Singapore. Stock symbols are in brackets and prices are from the previous market close.
The Straits Times Index fell 0.2 percent to 3398.60 on April 27. The May futures contract slid 0.6 percent to 413.9.
Read more at Bloomberg Stocks News
The Straits Times Index fell 0.2 percent to 3398.60 on April 27. The May futures contract slid 0.6 percent to 413.9.
Read more at Bloomberg Stocks News
BCE sees completing strategic review in 3rd qtr
(Reuters) - BCE said it would open an electronic data room this week that will be available to any qualified bidder. Potential bidders would also be required to sign standard confidentiality and standstill agreements.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Japan's Yen, Thai Baht, Korea's Won, Indian Rupee: Asian Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Asian currencies today.
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
Exchange rates are from the previous session.
Read more at Bloomberg Currencies News
American Real Estate shares overvalued -Barron's
(Reuters) - According to the article, American Real Estate's shares are worth only $65, significantly below their current value of $108.51.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Fed's Yellen says economic downturn possible
(Reuters) - The U.S. economy grew modestly in the first quarter but should accelerate in the second half of the year, she said in a speech to the American Academy of Arts and Sciences and the American Philosophical Society.
Enumerating the top current risks to stable economic conditions around the world, she said that in the U.S. economy "there is potential for a downturn that could have major spillover effects around the globe." The United States contributes roughly 25 percent to world economic output, she noted.
Read more at Reuters.com Business News
Enumerating the top current risks to stable economic conditions around the world, she said that in the U.S. economy "there is potential for a downturn that could have major spillover effects around the globe." The United States contributes roughly 25 percent to world economic output, she noted.
Read more at Reuters.com Business News
Zloty, Peso, Won, Rand Never Looked Better to Traders in Currency Options
(Bloomberg) -- Investments in emerging-market currencies, from the Mexican peso to the South Korean won, have never been safer.
The cost of options to protect against fluctuations in emerging-markets fell last week to a record low, a sign investors have grown more confident in the stability of developing countries, according to data compiled by JPMorgan Chase & Co.
Read more at Bloomberg Emerging Markets News
The cost of options to protect against fluctuations in emerging-markets fell last week to a record low, a sign investors have grown more confident in the stability of developing countries, according to data compiled by JPMorgan Chase & Co.
Read more at Bloomberg Emerging Markets News
Saudi's Tadawul Declines, Led by Samba; Abu Dhabi Shares Fall: Gulf Stocks
(Bloomberg) -- Shares in Saudi Arabia dropped for the first time in four trading days, paced by Samba Financial Group and Saudi Basic Industries Corp. Abu Dhabi's index also declined.
Saudi Arabia's Tadawul All Share Index lost 0.7 percent to 7407.84 at 12:21 p.m. local time, ending a three-day winning streak that added 4 percent to the benchmark.
Read more at Bloomberg Stocks News
Saudi Arabia's Tadawul All Share Index lost 0.7 percent to 7407.84 at 12:21 p.m. local time, ending a three-day winning streak that added 4 percent to the benchmark.
Read more at Bloomberg Stocks News
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