UPDATE 1-Nasdaq to buy Nordic bourse group OMX for $3.7 bln

(Reuters) - Nasdaq has been under pressure to get a deal done after the
London Stock Exchange's in cash for each OMX share.


Read more at Reuters.com Mergers News

Japanese Stocks Drop, Led by Exporters on Concern U.S. Rates Won't Be Cut

(Bloomberg) -- Japanese shares declined by the most
in a month. Exporters paced losses on concern the U.S. Federal
Reserve will lift borrowing costs in Japan's largest overseas
market after a report showed home sales unexpectedly climbed.

Canon Inc., the world's largest digital camera maker,
dropped 2 percent and Toyota Motor Corp., the world's No.1
automaker by market value, fell 1.5 percent.


Read more at Bloomberg Stocks News

Aruba, Frontier, Hibbett Sports, Verigy and Ditect: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Aruba Networks Inc. (ARUN US) increased 87 cents, or 5.7
percent, to $16.03 in trading yesterday after the official close
of U.S. exchanges. The maker of wireless networking equipment
said third-quarter sales were $34.7 million, up 65 percent from
a year earlier. That exceeded the $30.5 million estimate of
three analysts surveyed by Bloomberg.


Read more at Bloomberg Stocks News

Pound Headed for Weekly Gain, Ending Four-Week Losing Run, on Rate Outlook

(Bloomberg) -- The pound headed for a weekly gain
versus the dollar, snapping a four-week losing run, on views the
Bank of England will keep raising interest rates.

The U.K. currency traded near a two-week high against the
dollar yesterday as a manufacturing survey underpinned
expectations the central bank will raise borrowing costs twice
more this year. The pound may extend gains before a government
report today that's expected to confirm the economy maintained
the pace of its growth in the first quarter.


Read more at Bloomberg Currencies News

China's Wu Yi Opens Market at Own Pace, Handing Paulson Empty Concessions

(Bloomberg) -- China's agreement to further open its
financial industry to foreign firms should be seen as a logical
extension of the government's market reforms, and not as a
victory for the U.S., analysts and observers said.

Chinese negotiators led by Vice Premier Wu Yi agreed to
lift a moratorium on overseas firms buying into domestic
brokerages and triple the quota for stock purchases by foreign
institutional investors to $30 billion.


Read more at Bloomberg Emerging Markets News

Copper Prices in Shanghai Fall Most in Week as China Imports Slow in April

(Bloomberg) -- Shanghai copper prices fell the most
in a week as China's imports slowed last month from March's
record level, suggesting that the world's biggest consumer of the
metal has enough supply to meet demand.

Imports of refined copper and alloys in April fell 7.7
percent to 192,069 tons from 208,014 tons in March, according to
data issued today by the customs office. Shanghai copper prices
have fallen 14 percent this month on concern that China's rising
stockpiles of the metal, used in wires and pipes, signaled a glut.


Read more at Bloomberg Commodities News

European Government Notes Set for Third Weekly Drop Before Sentiment Index

(Bloomberg) -- European two-year government notes are
headed for a third weekly decline before a report that's expected
to show German consumer confidence rose in June.

Benchmark two-year yields held near the highest in five
years after a report yesterday showed business sentiment in
Europe's biggest economy stayed near a record in May. Futures
trading shows investors are raising bets the European Central
Bank raising rates at least twice more this year.


Read more at Bloomberg Bonds News

TREASURIES-Bond prices fall on data, stocks curb losses

(Reuters) - NEW YORK, May 24 - U.S. Treasury debt prices fell
on Thursday for the third straight day after reports of a surge
in new-home sales and signs of strength in business investment
reduced the chances of an interest rate cut by the Federal
Reserve in 2007.




Losses were limited by a drop in stocks as investors locked
in profits after a recent rally. The recent surge in the stock
market has drawn investors away from safe-haven Treasuries.


Read more at Reuters.com Bonds News

Boeing, Bon-Ton Stores, Komag, Patterson, Stein Mart: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. New York time.

Bausch & Lomb (BOL US) rose $3.20, or 4.8 percent, to
$69.65 and traded as high as $70.50. Advanced Medical Optics
Inc. (EYE US) said it will consider topping the $3.7 billion bid
from Warburg Pincus for Bausch & Lomb. Advanced Medical
mentioned no price, although CNBC reported the offer could
exceed $70 a share.


Read more at Bloomberg Stocks News

US audit watchdog eases internal controls standard

(Reuters) - The standard was imposed on corporate America by Congress
in 2002 amid scandals where investigators often found weak
controls. Section 404 required companies to pay more attention
to internal controls and to get their external auditors to
review them.




The relaxed standard will affect the handling of Section
404 reviews by corporations and major audit firms such as
PricewaterhouseCoopers [PWC.UL], Ernst & Young [ERNY.UL], KPMG
[KPMG.UL], and Deloitte & Touche [DLTE.UL].


Read more at Reuters.com Government Filings News

Sanderson Farms earnings jump, shares rise

(Reuters) - Wall Street analysts, on average, expected earnings of 29 cents, according to Reuters Estimates.




"Market conditions improved steadily throughout the quarter, as did our profitability. The company's top-line growth, resulting from improved market conditions and additional poultry pounds, more than offset the higher grain costs," Joe F. Sanderson, Jr., Sanderson's chief executive officer, said in a statement.


Read more at Reuters.com Hot Stocks News

Crude-Oil Futures Fall in New York, Gain in London on Threats to Supplies

(Bloomberg) -- Crude oil fell in New York and rose in
London to a nine-month high, boosted by threats to supply from
Nigeria and Iran.

London-traded Brent crude, traditionally cheaper, now costs
a record $6.46 a barrel more than New York oil. A government
report yesterday showed that supplies in Cushing, Oklahoma, the
delivery point for New York futures, jumped last week, adding to
a glut that is depressing prices. Refinery fires and power
outages have cut demand for the U.S. benchmark grade.


Read more at Bloomberg Energy News

Mortgage industry reloads as subprime misery lingers

(Reuters) - Perched on an arm chair on a ballroom stage, Mozilo, who made $387 million in pay and stock options over the past five years, disavowed blame for the collapse, pleasing his audience of fellow mortgage-banking industry leaders and foot soldiers.




"You've got to be careful here about blaming ourselves too much," the deeply tanned and sharply dressed chairman of Countrywide told the Mortgage Bankers Association this week.


Read more at Reuters.com Bonds News

Platinum, Palladium Futures Drop as Dollar's Gain Damp Investment Demand

(Bloomberg) -- Platinum fell in New York for the
third time in four days as gains by the dollar eroded the
investment appeal of precious metals. Palladium also declined.

The price of platinum has slumped 4.2 percent from a record
$1,353.80 an ounce on May 7. The dollar has climbed 1.6 percent
against the euro this month after falling to a record in late
April. The U.S. currency gained today after a government report
showed purchases of new homes in the U.S. exceeded economists'
forecasts last month.


Read more at Bloomberg Commodities News

US RATE FUTURES-Hopes for Fed easing wane on home sales

(Reuters) - CHICAGO, May 24 - Implied prospects for the
Federal Reserve to cut interest rates this year tumbled after
U.S. April new home sales came in much stronger than expected
to suggest the housing slump may be easing.




Sales of single-family homes rose 16.2 percent to an
annualized pace of 981,000 units, well above the consensus
forecast of 860,000, posting the biggest monthly rise since
April 1993.


Read more at Reuters.com Bonds News

Brazilian Real Falls as Rise in U.S. Yields Saps Demand for Risky Assets

(Bloomberg) -- Brazil's real weakened for a third
day as rising U.S. bond yields cut into demand for riskier,
emerging-market securities.

The real slid as much as 0.7 percent today after the yield
on benchmark U.S. 10-year bonds rose 23 basis points, or 0.23
percentage point, this month to 4.86 percent. Yields are rising
in the world's biggest economy, narrowing the gap between U.S.
and Brazilian yields, as speculation fades that the Federal
Reserve will cut interest rates.


Read more at Bloomberg Currencies News

IGC cuts world wheat output forecast, ups maize

(Reuters) - The International Grains Council lowered its forecast for world wheat output in 2007/08 to 620.6 million from 623.4 million tonnes on Thursday, cutting world stocks to their lowest levels since 1981.

Production was still sharply up on the 2006 harvest of 592.5 million tonnes.


Read more at Reuters Africa

Flowers Foods posts higher net; shares rise

(Reuters) - Analysts on average were expecting earnings of 42 cents per share, according to Reuters Estimates.




Sales rose to $609.9 million from $563.6 million a year ago, helped by higher pricing, more sales of higher-priced items and higher sales volume.


Read more at Reuters.com Hot Stocks News

Canadian Bank Stocks Rise on TD Bank Earnings; Suncor Drops on Oil Prices

(Bloomberg) -- Canada's main stock index was little
changed, as Toronto-Dominion Bank climbed after it reported profit
that topped analysts' estimates. Oil stocks fell as the price of
crude oil dropped.

Toronto-Dominion, the country's second-biggest bank, said
second-quarter profit climbed 19 percent as it recorded higher fees
from mutual funds, trading and investment banking. Toronto-Dominion
climbed 84 cents, or 1.2 percent, to C$71.37. Royal Bank of Canada,
the country's biggest bank, rose 62 cents, or 1 percent, to
C$60.92.


Read more at Bloomberg Stocks News

S.Africa to seek further debt reduction - Finmin

(Reuters) - South Africa will seek to further reduce its short term debt in the coming year, Finance Minister Trevor Manuel said in parliament on Thursday.

South Africa issued a $1 billion 15-year global bond and retired short-term paper will save the government $46.7 million per year.


Read more at Reuters Africa

European Energy Traders Want More Information on Gas Transport and Storage

(Bloomberg) -- Operators of Europe's natural-gas
storage facilities and liquefied natural gas terminals should
provide more data on flows and storage levels to improve market
transparency, the European Federation of Energy Traders said.

The information should be available free of charge to all
market participants via the Internet, in the national language
and in English, EFET said in a report published yesterday. The
group is made up of more than 70 energy-trading companies from
18 European countries.


Read more at Bloomberg Energy News

Ecuadorean Prosecutors Open Probe of Patino's Meeting With New York Banker

(Bloomberg) -- Ecuadorean prosecutors will question
Economy Minister Ricardo Patino next week in a probe sparked by
local media reports that he may have helped investors make money
from threats that the country would default on its debt.

Prosecutors opened the investigation this week after a May
21 broadcast of a video showing Patino, an aide and former
Economy Minister Armando Rodas discussing a possible transaction
of securities with two men, Susana Cedeno, a spokeswoman for the
attorney general, said. New York banker Carlos Abadi later said
he was at the meeting and denied any impropriety.


Read more at Bloomberg Bonds News

WRAPUP 1-U.S. April durables orders weak, jobless claims rise

(Reuters) - The tepid April increase for durable goods -- often costly
manufactured items meant to last three years or more --
followed a sharp upward revision in the March figure to a gain
of 5.0 percent from a previously reported figure of 3.7
percent, the Commerce Department said.




The April increase was well below the 1.0 percent rise in
total durable goods orders forecast by Wall Street economists
in a Reuters poll. The March figure was revised sharply upward
to a 5.0 percent gain from a previously reported figure of 3.7
percent.


Read more at Reuters.com Economic News

April durables orders rose 0.6 percent

(Reuters) - The shift in orders between April and March was due largely to changes in the volatile transportation sector, where orders for both motor vehicles and civilian aircraft fell in April after strong increases in March.




Stripping the transportation goods out, durable goods orders rose by 1.5 percent in April, the same pace as in March after a small upward revision. Economists had forecast that durables orders excluding transportation would rise 0.6 percent in April.


Read more at Reuters.com Economic News

US RATE FUTURES-Gains pared by April durables data

(Reuters) - Durable goods orders in April rose 0.6 percent, just short
of forecasts for a 1.0 percent increase, but March's orders
were revised upwards. Orders ex-transportations rose by a
bigger than expected 1.5 percent.




Read more at Reuters.com Bonds News

Nampak H1 headline EPS up 17 pct

(Reuters) - South African paper and packaging group Nampak increased first-half headline earnings per share by 17 percent and said on Thursday it expected to deliver solid full-year results.

Nampak said in a statement that headline EPS -- the key profit measure for South African firms and excludes non-trading, capital and certain extraordinary items -- before fair value of financial instruments rose to 96 cents per share from 82 cents.


Read more at Reuters Africa

UPDATE 1-Charming Shoppes Q1 earnings fall; gives Q2 view

(Reuters) - As with many retailers during the quarter, sales were hurt
by unseasonable and unfavorable weather trends.




For the first quarter Charming Shoppes earnings fell to
$26.3 million, or 20 cents a share from $32.1 million, or 24
cents a share, a year ago.


Read more at Reuters.com Market News

Calpine, Mylan Laboratories, Pike Electric, Tetra: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.
Shares prices are as of 7:30 a.m. New York time.

CA Inc. (CA US) fell $2.04, or 7.3 percent, to $25.80 in
regular trading in Germany. The second-largest maker of software
for mainframe computers posted an unexpected fourth-quarter loss
after orders declined. The net loss was 4 cents a share, the
company said. Analysts anticipated earnings of 20 cents, the
average estimate in a survey compiled by Bloomberg.


Read more at Bloomberg Stocks News

Charming Shoppes Q1 earnings fall

(Reuters) - For the first quarter, the retailer, which specializes in
plus-size apparel for women, posted earnings of $26.3 million,
or 20 cents a share, on net sales of $784.7 million.




This compares with earnings of $32.1 million, or 24 cents a
share, on net sales of $734.9 million a year ago.


Read more at Reuters.com Market News

Czech Republic, Hungary and Poland Face Budget Deficit Risks, OECD Says

(Bloomberg) -- The Czech Republic, Hungary and
Poland must do more to ensure they can get bring their budget
deficits within European Union limits, the Organization for
Economic Cooperation and Development said.

The Czech deficit will probably be 3.7 percent of gross
domestic product this year and 3.5 percent next year, Hungary's
shortfall is forecast at 6.7 percent of GDP this year and 4.8
percent in 2008, while the Polish budget gap may be 3.2 percent
of GDP this year and 2.4 percent next year, the OECD said.


Read more at Bloomberg Emerging Markets News

Swedish Krona Gains Against Euro as Region's Unemployment Falls in April

(Bloomberg) -- The Swedish krona rose versus the euro
after a government report showed unemployment in the region's
biggest economy declined in April.

Sweden's non-seasonally adjusted jobless rate fell to 4.6
percent from 4.8 percent in March, Stockholm-based Statistics
Sweden said, confirming investors' views the central bank will
have to raise interest rates this year to slow wage inflation.
Futures prices show investors expect the bank to lift its
benchmark rate as much as three times to 4 percent by year-end.


Read more at Bloomberg Currencies News

M.Stanley says European stocks could fall 10 pct

(Reuters) - "We are not calling for the end of the bull market, which
typically runs from one recession to the next," Carr said. "We
are cautious short term."




Morgan Stanley have preferred cash over equities and have
been underweight in bonds since Jan. 22 this year, he added.


Read more at Reuters.com Bonds News