(Bloomberg) -- Copper prices fell to a five-week low in Shanghai as China's imports surged in the first four months of this year, raising concern that the world's biggest consumer of the metal may be oversupplied.
China's imports of copper and copper products from January to April rose 61 percent to 1.1 million metric tons, compared with a year ago, according to preliminary customs data issued today. Imports were 304,672 tons in April, compared with a record 307,740 tons in March and 180,980 tons a year ago.
Read more at Bloomberg Commodities News
Monday, May 14, 2007
Glaxo, Unilever, Reuters, Hanson May Move: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.
The benchmark FTSE 100 Index fell 10.20, or 0.2 percent, to 6555.50 in London. The FTSE All-Share Index lost 4.14, or 0.1 percent, to 3405.79.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index fell 10.20, or 0.2 percent, to 6555.50 in London. The FTSE All-Share Index lost 4.14, or 0.1 percent, to 3405.79.
Read more at Bloomberg Stocks News
GPC makes loss in Q1 on higher expenses
(Reuters) - The biotech firm, whose top drug satraplatin was granted priority review status by the U.S. Food and Drug Administration last month, said it was preparing for its possible launch in the United States later this year.
Peak annual sales of satraplatin, an oral drug for prostate cancer patients who fail to respond to hormone treatment, are estimated to be $500 million a year. For 2007, GPC reiterated that it expects stable revenue compared to the 22.7 million euros its garnered in 2006.
Read more at Reuters.com Market News
Peak annual sales of satraplatin, an oral drug for prostate cancer patients who fail to respond to hormone treatment, are estimated to be $500 million a year. For 2007, GPC reiterated that it expects stable revenue compared to the 22.7 million euros its garnered in 2006.
Read more at Reuters.com Market News
IAC to buy stake in Front Line-WSJ
(Reuters) - IAC and the two private equity firms could not immediately be reached for comment.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Slovakian Economy Probably Grew at Record Pace in First Quarter on Exports
(Bloomberg) -- Slovakia's economy probably grew in the first quarter at the fastest pace since the country was established, led by exports of cars by PSA Peugeot Citroen and Kia Motors Corp., a survey of economists shows.
Gross domestic product rose an annual 10.6 percent, the most since Czechoslovakia split into two nations in 1993, compared with 9.6 percent expansion in the previous quarter, according to the median estimate of 10 economists surveyed by Bloomberg. The Slovak Statistical Office will release the report at 9 a.m. today.
Read more at Bloomberg Currencies News
Gross domestic product rose an annual 10.6 percent, the most since Czechoslovakia split into two nations in 1993, compared with 9.6 percent expansion in the previous quarter, according to the median estimate of 10 economists surveyed by Bloomberg. The Slovak Statistical Office will release the report at 9 a.m. today.
Read more at Bloomberg Currencies News
Tokyo gold recovers, platinum hits record
(Reuters) - Tokyo gold futures rose on Monday, snapping a four-day losing streak as buying from domestic investors helped the turnaround, while platinum futures hit a record high.
Analysts said a rise in the dollar above 120 yen helped stoke bargain-hunting demand in Tokyo, where the key gold futures contract slipped last Friday below 2,600 yen a gram, the lowest level for any benchmark since April 10.
Read more at Reuters Africa
Analysts said a rise in the dollar above 120 yen helped stoke bargain-hunting demand in Tokyo, where the key gold futures contract slipped last Friday below 2,600 yen a gram, the lowest level for any benchmark since April 10.
Read more at Reuters Africa
Shanghai copper retreats on import worries
(Reuters) - Copper prices in Shanghai eased on Monday, under pressure after a 25-percent rise in copper stocks last week, but dealers said London prices could regain $8,000 a tonne on a positive technical outlook.
Shanghai July copper was at 68,880 yuan a tonne at the close, down 540 yuan from Friday. Prices earlier climbed over 1 percent before easing.
Read more at Reuters Africa
Shanghai July copper was at 68,880 yuan a tonne at the close, down 540 yuan from Friday. Prices earlier climbed over 1 percent before easing.
Read more at Reuters Africa
Abil lifts first half earnings as lending soars
(Reuters) - African Bank Investments Ltd (Abil), South Africa's biggest mass-market lender, increased first-half advances by 29 percent, boosting profits, and raised its target for full-year growth.
Abil said on Monday it had increased the group's internal target for 2007 loan book growth to 30 percent from 18 to 22 percent, as it increased headline earnings per share for the six months to end-March by 18 percent to 114.1 cents.
Read more at Reuters Africa
Abil said on Monday it had increased the group's internal target for 2007 loan book growth to 30 percent from 18 to 22 percent, as it increased headline earnings per share for the six months to end-March by 18 percent to 114.1 cents.
Read more at Reuters Africa
Rand steady versus dollar, seen rangebound
(Reuters) - South Africa's rand gave up gains against the dollar made earlier on Monday, due mainly to softer gold prices, and should tread current ranges in coming days.
At 1520 GMT the rand was at 6.9445 versus the dollar, off earlier highs of 6.90, but hardly moved from its close of 6.9425/dollar in New York on Friday.
Read more at Reuters Africa
At 1520 GMT the rand was at 6.9445 versus the dollar, off earlier highs of 6.90, but hardly moved from its close of 6.9425/dollar in New York on Friday.
Read more at Reuters Africa
U.S. April foreclosures dip 1 percent-RealtyTrac
(Reuters) - "Last year, foreclosure activity subsided somewhat during the spring and summer months, thanks in part to increased interest from buyers," James Saccacio, chief executive officer of RealtyTrac, said in a statement.
"Whether the decrease in April is the beginning of a similar trend this year remains to be seen, but we expect foreclosure activity to at least stay above last year's levels for the remainder of 2007, fueled by a combustible mix of risky loans taken out in the last few years --many in the subprime market -- and slowing home price appreciation," Saccacio said.
Read more at Reuters.com Bonds News
"Whether the decrease in April is the beginning of a similar trend this year remains to be seen, but we expect foreclosure activity to at least stay above last year's levels for the remainder of 2007, fueled by a combustible mix of risky loans taken out in the last few years --many in the subprime market -- and slowing home price appreciation," Saccacio said.
Read more at Reuters.com Bonds News
African Development Bank Says May Increase Debt Sales to More Currencies
(Bloomberg) -- The African Development Bank is evaluating whether to increase the number of currencies in which it sells notes, the head of its treasury said.
``We have been trying to develop our impact in the local capital markets on the continent,'' Stefan Nalletamby, the ADB's group treasurer, said in an interview at the bank's annual general meeting in Shanghai today. ``We have been working with different bankers to issue in local currencies.''
Read more at Bloomberg Bonds News
``We have been trying to develop our impact in the local capital markets on the continent,'' Stefan Nalletamby, the ADB's group treasurer, said in an interview at the bank's annual general meeting in Shanghai today. ``We have been working with different bankers to issue in local currencies.''
Read more at Bloomberg Bonds News
Bouygues, EDF, Societe Generale, Technip, Thales: French Equity Preview
(Bloomberg) -- Shares of the following companies may make gains or losses on the Paris stock exchange. Stock symbols are in parentheses and prices are from the last close.
The CAC 40 fell 24.21, or 0.4 percent, to 6026.42. The SBF 250 Index declined 18.50, or 0.4 percent, to 4284.18.
Read more at Bloomberg Stocks News
The CAC 40 fell 24.21, or 0.4 percent, to 6026.42. The SBF 250 Index declined 18.50, or 0.4 percent, to 4284.18.
Read more at Bloomberg Stocks News
Kiwi Strength Proves Bane for New Zealand's Manufacturers, Jobs, Exports
(Bloomberg) -- For New Zealand, having the strongest currency in the world may be too much of a good thing.
The kiwi's record appreciation since it began trading in the foreign exchange market in 1985 has prompted Fisher & Paykel Appliances Holdings Ltd. to shift production of washing machines and driers to Thailand. Click Clack Ltd., which makes airtight food containers and brushes, is moving a tool design factory to China. Sanford Ltd., the country's largest publicly traded fishing company, said the strength of the currency is ``decimating'' earnings.
Read more at Bloomberg Exclusive News
The kiwi's record appreciation since it began trading in the foreign exchange market in 1985 has prompted Fisher & Paykel Appliances Holdings Ltd. to shift production of washing machines and driers to Thailand. Click Clack Ltd., which makes airtight food containers and brushes, is moving a tool design factory to China. Sanford Ltd., the country's largest publicly traded fishing company, said the strength of the currency is ``decimating'' earnings.
Read more at Bloomberg Exclusive News
North Korea Wants Euros; Offers Weird, Sad Tours, Human Dot-Matrix Display
(Bloomberg) -- A military dirge emanated from Alejandro Cao's laptop as my 1,200 euros ($1,625) flapped through a cash counter on his desk in Beijing's Red Wall hotel. The Spanish-born supporter of North Korea, wearing a crisp, black Mao suit with a portrait of Kim Il-sung on the lapel, was to be my guide into the secretive communist nation.
North Korea this spring tentatively reopened its doors to American visitors, signaling a thaw in relations in the wake of a new denuclearization plan. When they're allowed, a handful of agencies run group tours of the Hermit Kingdom, with prices from about $2,000 to $6,000 for a tightly controlled itinerary.
Read more at Bloomberg Exclusive News
North Korea this spring tentatively reopened its doors to American visitors, signaling a thaw in relations in the wake of a new denuclearization plan. When they're allowed, a handful of agencies run group tours of the Hermit Kingdom, with prices from about $2,000 to $6,000 for a tightly controlled itinerary.
Read more at Bloomberg Exclusive News
Subscribe to:
Posts (Atom)