(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 dropped 0.8 percent to 389.79. The Dow Jones Stoxx 50 Index fell 0.6 percent to 3880.80. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, dropped 0.7 percent to 4411.32.
Read more at Bloomberg Stocks News
Tuesday, May 8, 2007
JGBs fall ahead of Fukui, Fed meeting eyed
(Reuters) - The yield on two-year notes hit a 10-month high earlier in the session as investors bet that shorter maturities will underperform longer-dated bonds on expectations that the BOJ will further boost interest rates.
Investors believe that better-than-expected growth data for the January-March quarter due on May 17 could lead to a rate rise in the July-September quarter.
Read more at Reuters.com Bonds News
Investors believe that better-than-expected growth data for the January-March quarter due on May 17 could lead to a rate rise in the July-September quarter.
Read more at Reuters.com Bonds News
U.K. April Consumer Confidence Rose to Six-Month High, Nationwide Reports
(Bloomberg) -- U.K. consumer confidence rose to a six- month high in April after higher interest rates failed to dent households' spending plans, the Nationwide Building Society said.
An index of sentiment advanced to 90 from 88 in March, according to a report from Britain's third-biggest mortgage lender today. Economists expected a reading of 89, the median of five forecasts in a Bloomberg News survey showed. A gauge of spending intentions jumped to 89 in April from 83 in the previous month.
Read more at Bloomberg Bonds News
An index of sentiment advanced to 90 from 88 in March, according to a report from Britain's third-biggest mortgage lender today. Economists expected a reading of 89, the median of five forecasts in a Bloomberg News survey showed. A gauge of spending intentions jumped to 89 in April from 83 in the previous month.
Read more at Bloomberg Bonds News
CORRECTED: Dollar drifts sideways before Fed decision
(Reuters) - The Fed is widely expected to keep rates on hold at 5.25 percent, and many analysts believe the central bank will emphasise in its post-meeting statement that worries about inflation pressures outweigh the economy's housing-led slowdown.
Weaker growth in the United States has stirred expectations that the Fed's next move will be to cut rates even as robust conditions elsewhere in the world have kept other major central banks on track to raise rates, luring funds to those currencies.
Read more at Reuters.com Hot Stocks News
Weaker growth in the United States has stirred expectations that the Fed's next move will be to cut rates even as robust conditions elsewhere in the world have kept other major central banks on track to raise rates, luring funds to those currencies.
Read more at Reuters.com Hot Stocks News
Australian Shares Rise, Led by Rio Tinto; Woolworths Advances on Budget
(Bloomberg) -- Australian shares gained, led by Rio Tinto Group. Woolworths Ltd. paced a gain in retail-related shares after the government's budget announced late yesterday included tax cuts and spending that will pump more than A$67 billion ($55 billion) into the economy.
The S&P/ASX 200 Index gained 37.40, or 0.6 percent, to 6341.60 at 12:40 p.m. in Sydney.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index gained 37.40, or 0.6 percent, to 6341.60 at 12:40 p.m. in Sydney.
Read more at Bloomberg Stocks News
Japanese Steelmaker Stocks Advance on Industry Consolidation; Toyota Drops
(Bloomberg) -- Japanese steelmaker shares advanced after a report Arcelor Mittal may acquire AK Steel Corp., the No. 3 U.S. maker of the alloy, prompting speculation reorganization will extend to the domestic industry.
Nippon Steel Corp. climbed 0.9 percent, a fifth day of gains. Sumitomo Metal Industries Ltd. jumped 2.2 percent, its fourth straight advance.
Read more at Bloomberg Stocks News
Nippon Steel Corp. climbed 0.9 percent, a fifth day of gains. Sumitomo Metal Industries Ltd. jumped 2.2 percent, its fourth straight advance.
Read more at Bloomberg Stocks News
Nikkei nearly flat on profit-taking
(Reuters) - The United States is one of the biggest markets for Japanese goods.
"Gains are capped by profit-taking in tech shares, while losses are limited by banks and defensive stocks such as drugs," he said.
Read more at Reuters.com Hot Stocks News
"Gains are capped by profit-taking in tech shares, while losses are limited by banks and defensive stocks such as drugs," he said.
Read more at Reuters.com Hot Stocks News
Pimco Buys Derivatives to Profit From India's Interest Rates, Lian Says
(Bloomberg) -- Pacific Investment Management Co., the biggest buyer of emerging-market debt, has bought derivatives to profit from interest rates in India, the world's second-fastest growing major economy, fund manager Chia Liang Lian said.
The money manager has purchased non-deliverable rupee forwards tied to the future value of the rupee, Lian said in an interview in Singapore. The contracts are attractive because they reflect India's yield premium, he said. India's bond yields are the third-highest in Asia.
Read more at Bloomberg Currencies News
The money manager has purchased non-deliverable rupee forwards tied to the future value of the rupee, Lian said in an interview in Singapore. The contracts are attractive because they reflect India's yield premium, he said. India's bond yields are the third-highest in Asia.
Read more at Bloomberg Currencies News
Australia's S&P/ASX Is Little Changed; BHP Drops While David Jones Climbs
(Bloomberg) -- Australia's S&P/ASX 200 Index was unchanged at 6304.40 at 10:20 a.m. in Sydney. BHP Billiton fell, while David Jones Ltd. gained.
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
South Korean Finance Official Hur Doesn't Expect Won to Rise, Edaily Says
(Bloomberg) -- South Korean finance ministry official Hur Kyung Wook doesn't expect the nation's currency to keep rising, Edaily reported.
Hur, director general of the ministry's international finance bureau, told KBS radio in Seoul today that there is ``no reason for the won's appreciation to continue,'' according to a report on the Internet-based news agency.
Read more at Bloomberg Currencies News
Hur, director general of the ministry's international finance bureau, told KBS radio in Seoul today that there is ``no reason for the won's appreciation to continue,'' according to a report on the Internet-based news agency.
Read more at Bloomberg Currencies News
UPDATE 1-Motorola to pay $25 mln over "round-trip" case
(Reuters) - The Securities and Exchange Commission said the case involved a "round-trip" of cash between Motorola, a supplier of television set-top boxes, and Adelphia, which used the money to falsify its earnings in 2000 and 2001.
Adelphia paid money to Motorola, which immediately returned it to Adelphia in the form of marketing support payments, the SEC said.
Read more at Reuters.com Government Filings News
Adelphia paid money to Motorola, which immediately returned it to Adelphia in the form of marketing support payments, the SEC said.
Read more at Reuters.com Government Filings News
Australia's Tax Cuts, Spending Raise Prospect of Interest-Rate Increases
(Bloomberg) -- Australia's government will cut taxes and spend more on child care, pumping A$67.5 billion ($56 billion) into the economy and raising expectations the central bank may increase interest rates.
The government will raise income-tax thresholds, putting four of five Australians on a 30 percent rate at a cost of A$31.5 billion over the next four years. It will also spend more than A$30 billion on child-care subsidies, payments to senior citizens and new funding for education, defense and the environment, Treasurer Peter Costello said yesterday in Canberra.
Read more at Bloomberg Bonds News
The government will raise income-tax thresholds, putting four of five Australians on a 30 percent rate at a cost of A$31.5 billion over the next four years. It will also spend more than A$30 billion on child-care subsidies, payments to senior citizens and new funding for education, defense and the environment, Treasurer Peter Costello said yesterday in Canberra.
Read more at Bloomberg Bonds News
New Zealand Dollar Falls as Bollard May Tighten Lending Rules For Banks
(Bloomberg) -- New Zealand's dollar fell after central bank Governor Alan Bollard said he may introduce new rules to curb bank lending, stifling demand for housing and diminishing the need for higher interest rates.
The local dollar, known as the kiwi, gained 18 percent in the past twelve months, as borrowing costs have been lifted twice to a record 7.75 percent. Bollard said he may tighten capital requirement rules for banks to stifle lending which is stoking a housing boom and adding to inflation, necessitating increases in the official cash rate.
Read more at Bloomberg Currencies News
The local dollar, known as the kiwi, gained 18 percent in the past twelve months, as borrowing costs have been lifted twice to a record 7.75 percent. Bollard said he may tighten capital requirement rules for banks to stifle lending which is stoking a housing boom and adding to inflation, necessitating increases in the official cash rate.
Read more at Bloomberg Currencies News
Papa John's first-quarter earnings drop
(Reuters) - Wall Street analysts, on average, had been expecting earnings of 41 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
U.S. Democrats craft new Iraq war-funds plan
(Reuters) - House Majority Leader Steny Hoyer, a Maryland Democrat, said a vote could come as early as Thursday on a new plan to provide more than $30 billion now for combat operations in Iraq and Afghanistan before existing war funds run out. Another $10 billion or so would beef up veterans health care and other military programs.
The House vote would come in the midst of a three-month fight between congressional Democrats and the White House over the Iraq war and as the Pentagon adds 30,000 U.S. troops to help secure Baghdad from sectarian violence that has spiraled out of control.
Read more at Reuters.com Bonds News
The House vote would come in the midst of a three-month fight between congressional Democrats and the White House over the Iraq war and as the Pentagon adds 30,000 U.S. troops to help secure Baghdad from sectarian violence that has spiraled out of control.
Read more at Reuters.com Bonds News
Asian Stocks Retreat in U.S., Paced by United Microelectronics on Earnings
(Bloomberg) -- Asian stocks fell in U.S. trading, ending their longest winning streak since February, after United Microelectronics Corp. reported lower sales.
The Bank of New York Co.'s Asia ADR Index, tracking the region's American depositary receipts, dropped 0.4 percent to 161.13, snapping a five-day, 2.6 percent advance.
Read more at Bloomberg Stocks News
The Bank of New York Co.'s Asia ADR Index, tracking the region's American depositary receipts, dropped 0.4 percent to 161.13, snapping a five-day, 2.6 percent advance.
Read more at Bloomberg Stocks News
US STOCKS-Wall Street indexes end steady ahead of Fed meeting
(Reuters) - NEW YORK, May 8 - U.S. stocks closed flat on Tuesday as investors locked in profits after five straight sessions of gains in blue chips, a day before the Federal Reserve's meeting on interest rate policy.
After starting the session sharply lower, indexes clawed their way back as investors saw the decline as the first buying opportunity in more than a week. Resilience in the transportation sector also curbed the market's fall.
Read more at Reuters.com Bonds News
After starting the session sharply lower, indexes clawed their way back as investors saw the decline as the first buying opportunity in more than a week. Resilience in the transportation sector also curbed the market's fall.
Read more at Reuters.com Bonds News
Bob Evans April same-store sales rise
(Reuters) - Same-store sales rose 1.3 percent at the company's Mimi's Cafe restaurants, it said in a statement.
) Keywords: BOBEVANS SALES/
Read more at Reuters.com Market News
) Keywords: BOBEVANS SALES/
Read more at Reuters.com Market News
ISM sees '07 growth in U.S. factory, service sectors
(Reuters) - Capacity utilization in manufacturing was estimated at 82.8 percent, the ISM's Business Survey Committee forecast said.
"While 2007 appears to be lagging behind the last three years, in terms of manufacturing growth, the forecast indicates that manufacturers are investing and foresee revenue improvement in the future," said Norbert Ore, chair of the ISM manufacturing business survey committee.
Read more at Reuters.com Economic News
"While 2007 appears to be lagging behind the last three years, in terms of manufacturing growth, the forecast indicates that manufacturers are investing and foresee revenue improvement in the future," said Norbert Ore, chair of the ISM manufacturing business survey committee.
Read more at Reuters.com Economic News
Goldman takes minority stake in Medley
(Reuters) - "It's really a kind of outsourced sales team for us, and the fact that it's Goldman is very attractive to us," said Sassan Ghahramani, chief executive officer of MGA.
Ghahramani declined to specify the size of Goldman's stake, which brings the investment bank together with current owners Boston Ventures, Castanea Partners, and MGA management. Goldman was not immediately available to comment.
Read more at Reuters.com Mergers News
Ghahramani declined to specify the size of Goldman's stake, which brings the investment bank together with current owners Boston Ventures, Castanea Partners, and MGA management. Goldman was not immediately available to comment.
Read more at Reuters.com Mergers News
UPDATE 1-Mexico's 28-day T-bill yield dips to 7.24 pct
(Reuters) - Mexico's central bank is due to report inflation data for April on Wednesday, and many economists expect a slight dip in prices.
Mexican consumer prices likely dipped 0.07 percent in April, according to a Reuters poll conducted on Tuesday.
Read more at Reuters.com Bonds News
Mexican consumer prices likely dipped 0.07 percent in April, according to a Reuters poll conducted on Tuesday.
Read more at Reuters.com Bonds News
Canada Stocks Pare Loss as Research in Motion Advances; Thomson Declines
(Bloomberg) -- Canada's main stock index pared losses and was little changed as shares of Research In Motion Ltd. gained after an analyst recommended the stock.
Thomson Corp. has its biggest loss in two and a half years after the company said it may pay $17.5 billion in cash and shares to buy Reuters Group Plc, in what would be the biggest Canadian purchase abroad ever. The Standard & Poor's/TSX Composite Index added 2.25, or less than 0.1 percent, to 13,867.76 as of 1:51 p.m. in Toronto.
Read more at Bloomberg Stocks News
Thomson Corp. has its biggest loss in two and a half years after the company said it may pay $17.5 billion in cash and shares to buy Reuters Group Plc, in what would be the biggest Canadian purchase abroad ever. The Standard & Poor's/TSX Composite Index added 2.25, or less than 0.1 percent, to 13,867.76 as of 1:51 p.m. in Toronto.
Read more at Bloomberg Stocks News
U.S. Raises Forecast for Average Summer Gasoline Price to $2.95 a Gallon
(Bloomberg) -- The U.S. government raised its estimate for the price of gasoline at the pump during the peak demand summer season by 5 percent because of refinery shutdowns and increased global demand.
Regular gasoline in the U.S. will average $2.95 a gallon from April through September, up from $2.81 a gallon estimated in April, the Energy Department said in its monthly Short-Term Energy Outlook. Prices last summer averaged $2.84.
Read more at Bloomberg Energy News
Regular gasoline in the U.S. will average $2.95 a gallon from April through September, up from $2.81 a gallon estimated in April, the Energy Department said in its monthly Short-Term Energy Outlook. Prices last summer averaged $2.84.
Read more at Bloomberg Energy News
HP lifts outlook as shares rise
(Reuters) - The world's biggest maker of personal computers and printers said it now expects to post revenue of $25.50 billion to $25.55 billion in the second quarter, which is about $1 billion more than it had previously forecast and well ahead of revenue in the period a year ago.
HP forecast adjusted earnings of 69 to 70 cents per share for the second quarter -- up from its previous estimate of 63 to 64 cents. Analysts were looking for earnings excluding items of 65 cents a share on revenue of $24.6 billion, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
HP forecast adjusted earnings of 69 to 70 cents per share for the second quarter -- up from its previous estimate of 63 to 64 cents. Analysts were looking for earnings excluding items of 65 cents a share on revenue of $24.6 billion, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Medicis agrees to settle allegations over fungicide - DoJ
(Reuters) - Loprox had only been approved by the U.S. Food and Drug Administration as a fungicide for patients over 10 years of age, the department said in a statement.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-SEC sets charges in Dow Jones insider trading case
(Reuters) - The couple, Kan King Wong and Charlotte Ka On Wong Leung, are accused of buying 415,000 shares of Dow Jones shares "while in possession of material, nonpublic information regarding the offer to buy DJ by News Corp," the U.S. Securities and Exchange Commission said.
The SEC, in a civil complaint filed in Manhattan federal court, contends that the couple bought Dow Jones stock from April 13 to April 30, before the takeover offer for the Wall Street Journal publisher became public on May 1.
Read more at Reuters.com Mergers News
The SEC, in a civil complaint filed in Manhattan federal court, contends that the couple bought Dow Jones stock from April 13 to April 30, before the takeover offer for the Wall Street Journal publisher became public on May 1.
Read more at Reuters.com Mergers News
Opel's Belgian plant workers mull end to strike
(Reuters) - Workers walked out in protest a decision by GM not to build the next-generation Astra model in Belgium as well as to cut 1,400 jobs in the plant in Antwerp, about a third of the workforce, this year.
But on Tuesday, GM Europe offered a deal that may secure enough production to make the plant viable.
Read more at Reuters.com Bonds News
But on Tuesday, GM Europe offered a deal that may secure enough production to make the plant viable.
Read more at Reuters.com Bonds News
Qiao Xing Mobile sees 30 pct revenue growth
(Reuters) - He also said the company would set up a team to examine the possibility of expanding operations to other markets with large populations and low mobile phone penetration rates.
The executive cited markets such as India, Russia, Indonesia and Brazil as potential destinations for expansion.
Read more at Reuters.com Market News
The executive cited markets such as India, Russia, Indonesia and Brazil as potential destinations for expansion.
Read more at Reuters.com Market News
ISM survey sees '07 factory, service sector growth
(Reuters) - Capacity utilization in manufacturing was estimated at 82.8 percent in 2007, the ISM's Business Survey Committee forecast said.
U.S. non-manufacturing revenue was expected to grow 2.1 percent in 2007, according to the business leaders' projections.
Read more at Reuters.com Bonds News
U.S. non-manufacturing revenue was expected to grow 2.1 percent in 2007, according to the business leaders' projections.
Read more at Reuters.com Bonds News
UPDATE 1-Quebec separatist leader set to quit - TV networks
(Reuters) - LCN and Radio-Canada said Boisclair would announce his depature at a closed-door meeting of party legislators in Quebec City, which was set to start at 11 a.m. .
The youthful Boisclair was elected leader in late 2005 when his party was well ahead in the polls. But a series of stumbles and gaffes gradually eroded his popularity and the Parti Quebecois finished in third place in the March 26 election.
Read more at Reuters.com Bonds News
The youthful Boisclair was elected leader in late 2005 when his party was well ahead in the polls. But a series of stumbles and gaffes gradually eroded his popularity and the Parti Quebecois finished in third place in the March 26 election.
Read more at Reuters.com Bonds News
European Coal Advances to Two-Year High on Ship Rates, Chinese Demand
(Bloomberg) -- Coal burned by power stations for year-ahead delivery to Amsterdam, Rotterdam or Antwerp rose to its highest in more than two years, boosting the price of electricity in markets including Germany, Europe's biggest.
The year-ahead price gained as much as 50 cents, or 0.7 percent to 75 dollars a metric ton today. It traded at $74.75 at 3:43 p.m. in London, according to ICAP Plc prices. It has gained 9.6 percent since the start of the year.
Read more at Bloomberg Commodities News
The year-ahead price gained as much as 50 cents, or 0.7 percent to 75 dollars a metric ton today. It traded at $74.75 at 3:43 p.m. in London, according to ICAP Plc prices. It has gained 9.6 percent since the start of the year.
Read more at Bloomberg Commodities News
UPDATE1-Bronco Drilling's Q1 misses Wall Street view,shares fall
(Reuters) - The company's results missed analysts' estimates for both earnings and revenue, sending shares down 12 percent to $16.73 on the Nasdaq.
First-quarter earnings were $11.4 million or 44 cents a share, compared to $11.3 million or 48 cents a share, a year ago. Earnings per share fell due to an increase in the number of shares outstanding. Analysts on average expected earnings of 53 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
First-quarter earnings were $11.4 million or 44 cents a share, compared to $11.3 million or 48 cents a share, a year ago. Earnings per share fell due to an increase in the number of shares outstanding. Analysts on average expected earnings of 53 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
TREASURIES-Market up as sentiment firms on long bonds
(Reuters) - NEW YORK, May 8 - U.S. Treasuries rose on Tuesday led by the 30-year long bond, which benefited from the relatively low supply in that maturity that will hit the market this week and perceptions that inflation is in retreat.
The Treasury will sell $13 billion of 10-year notes later on Tuesday. It will also offer $5 billion of long bonds on Thursday, less than some in the market had expected.
Read more at Reuters.com Bonds News
The Treasury will sell $13 billion of 10-year notes later on Tuesday. It will also offer $5 billion of long bonds on Thursday, less than some in the market had expected.
Read more at Reuters.com Bonds News
U.S. Treasury 10-Year Yield Touches Lowest in Six Weeks Before Fed Meeting
(Bloomberg) -- Yields on 10-year Treasuries fell to the lowest in six weeks before an auction today of the securities on speculation the Federal Reserve may emphasize slowing economic growth at its meeting tomorrow.
The return of Japanese and European investors from holidays and investors' need to reinvest coupon payments and cash from maturing notes led to increased demand as declining wage growth may indicate inflation is slowing. Bonds also gained as stock market indexes declined on concerns profits aren't climbing fast enough to sustain a five-week rally.
Read more at Bloomberg Bonds News
The return of Japanese and European investors from holidays and investors' need to reinvest coupon payments and cash from maturing notes led to increased demand as declining wage growth may indicate inflation is slowing. Bonds also gained as stock market indexes declined on concerns profits aren't climbing fast enough to sustain a five-week rally.
Read more at Bloomberg Bonds News
FACTBOX-Nine big lenders no longer in subprime
(Reuters) - New Century Irvine, California
Fremont General Santa Monica, California
Read more at Reuters.com Business News
Fremont General Santa Monica, California
Read more at Reuters.com Business News
UPDATE 1-Molson Coors posts 1st-qtr profit vs year-ago loss
(Reuters) - The brewer of Molson Canadian and Coors Light beers posted a net profit of $4.4 million, or 5 cents per share, for the first quarter, compared with a net loss of $30.2 million, or 35 cents per share, a year before.
Total net sales rose 6.5 percent to $1.23 billion. Sales by volume, which measures beer shipments to wholesalers, rose about 3 percent to 8.9 million barrels.
Read more at Reuters.com Market News
Total net sales rose 6.5 percent to $1.23 billion. Sales by volume, which measures beer shipments to wholesalers, rose about 3 percent to 8.9 million barrels.
Read more at Reuters.com Market News
UPDATE 1-Hewlett-Packard says raises second-quarter outlook
(Reuters) - The world's biggest maker of personal computers and printers now expects to post revenue of $25.5 billion to $25.55 billion in the second quarter, which is about about $1 billion more than it previously forecast and well-ahead of revenue in the period a year ago.
At the same time HP raised its forecast for earnings per share, which will also be helped by share buyback that reduced the amount of outstanding stock.
Read more at Reuters.com Market News
At the same time HP raised its forecast for earnings per share, which will also be helped by share buyback that reduced the amount of outstanding stock.
Read more at Reuters.com Market News
US FDA staff cautious on anemia drugs' risks
(Reuters) - The document was released ahead of an FDA advisory panel meeting on Thursday to discuss the risks of using the erythropoiesis-stimulating agents in cancer patients.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-McDonald's April same-store sales rise 4.8 pct
(Reuters) - CIBC analyst John Glass had been expecting a gain of 5 percent, while RBC Capital Markets analyst Larry Miller had forecast an increase of 3.5 percent, according to research reports.
Total systemwide sales rose 9.6 percent, helped by the weakness of the U.S. dollar, which boosts the value of sales outside the United States. Sales rose 6 percent on a constant currency basis, McDonald's said.
Read more at Reuters.com Market News
Total systemwide sales rose 9.6 percent, helped by the weakness of the U.S. dollar, which boosts the value of sales outside the United States. Sales rose 6 percent on a constant currency basis, McDonald's said.
Read more at Reuters.com Market News
UPDATE 2-WCI Communities posts quarterly loss
(Reuters) - The company posted a first-quarter net loss of $15.8 million, or $38 cents per share, versus a profit of $40.2 million, or $89 cents per share, in the year-earlier quarter.
The loss was wider than the 22 cent loss analysts polled by Reuters Estimates had expected.
Read more at Reuters.com Mergers News
The loss was wider than the 22 cent loss analysts polled by Reuters Estimates had expected.
Read more at Reuters.com Mergers News
Oil Climbs as Militants Attack Nigerian Pipelines, Threatening Supplies
(Bloomberg) -- Crude oil rose the most in more than a week as a militant group attacked pipelines in Nigeria, Africa's biggest crude producer.
Three pipelines operated by a unit of Eni SpA and an export terminal in the Nigeria state of Bayelsa were shut down after they were attacked by the Movement for the Emancipation of the Niger Delta, the militant group said.
Read more at Bloomberg Commodities News
Three pipelines operated by a unit of Eni SpA and an export terminal in the Nigeria state of Bayelsa were shut down after they were attacked by the Movement for the Emancipation of the Niger Delta, the militant group said.
Read more at Bloomberg Commodities News
UPDATE 1-El Paso profit lifted by pipeline sale
(Reuters) - The Houston-based company said profit was $629 million, or 89 cents per share, compared with $356 million, or 49 cents per share, in the same period a year earlier.
Excluding proceeds from the sale, debt repurchase costs and losses from the market value of trading contracts, the company posted adjusted earnings from continuing operations of 18 cents per share.
Read more at Reuters.com Market News
Excluding proceeds from the sale, debt repurchase costs and losses from the market value of trading contracts, the company posted adjusted earnings from continuing operations of 18 cents per share.
Read more at Reuters.com Market News
Hewitt Associates 2nd-quarter earnings fall
(Reuters) - The latest-quarter results included $20 million in pre-tax charges, the company said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
FTSE slips on oils, banks; interest rates eyed
(Reuters) - Britain's top share index extended losses by mid-session on Tuesday ahead of key U.S. and UK interest rate decisions this week, as oil shares and banks proved a drag.
At 1043 GMT the FTSE 100 was down 34.4 points, 0.52 percent at 6,569.3, slipping from its highest close in more than 6-1/2 years in the last session. European shares also nudged lower.
Read more at Reuters Africa
At 1043 GMT the FTSE 100 was down 34.4 points, 0.52 percent at 6,569.3, slipping from its highest close in more than 6-1/2 years in the last session. European shares also nudged lower.
Read more at Reuters Africa
Futures down as market set to pause from streak
(Reuters) - Stocks have sustained a lengthy rally, propelled by stronger than expected first-quarter earnings and a wave of major takeover deals.
Among the latest on the M&A front, Thomson Corp. .
Read more at Reuters.com Hot Stocks News
Among the latest on the M&A front, Thomson Corp. .
Read more at Reuters.com Hot Stocks News
Billionaire Pinchuk to Sell Interpipe Stock in `Benchmark' IPO for Ukraine
(Bloomberg) -- Billionaire Viktor Pinchuk plans to sell shares in Interpipe, Ukraine's largest producer of steel pipes used by oil and gas companies, in what may be the largest initial public offering ever in the former Soviet republic.
Interpipe has started the process of choosing banks to manage its IPO, which will probably take place next year, the Dnepropetrovsk, eastern Ukraine-based company said in an e- mailed statement. The stock will be listed in London.
Read more at Bloomberg Emerging Markets News
Interpipe has started the process of choosing banks to manage its IPO, which will probably take place next year, the Dnepropetrovsk, eastern Ukraine-based company said in an e- mailed statement. The stock will be listed in London.
Read more at Bloomberg Emerging Markets News
S.Africa business confidence ticks up on EM mood
(Reuters) - South Africa's business confidence ticked up slightly in April helped by global investor demand for emerging market assets, the South African Chamber of Business (SACOB) said on Tuesday.
SACOB's Business Confidence Index (BCI) edged up to 101.9 points in April, after slipping to 99.5 in March from 100.5 in February.
Read more at Reuters Africa
SACOB's Business Confidence Index (BCI) edged up to 101.9 points in April, after slipping to 99.5 in March from 100.5 in February.
Read more at Reuters Africa
Gold Drops as Dollar's Gain May Erode Investor Demand; Silver Also Delines
(Bloomberg) -- Gold fell as a rebound in the dollar against the euro may erode investor demand for precious metals as an alternative investment. Silver declined.
Gold has moved opposite the dollar against the euro 79 percent of the time this year. The dollar gained today for the first day in three before the Federal Reserve meets tomorrow to discuss interest rates.
Read more at Bloomberg Commodities News
Gold has moved opposite the dollar against the euro 79 percent of the time this year. The dollar gained today for the first day in three before the Federal Reserve meets tomorrow to discuss interest rates.
Read more at Bloomberg Commodities News
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