Bayer, Cash.life, Daimler, Infineon, Merck KGaA: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

DAX futures expiring in June dropped 31, or 0.4 percent, to
7585 as of 8:19 a.m. in Frankfurt. The DAX sank 111.44, or 1.4
percent, to 7618.61 on the Xetra electronic-trading system
yesterday.


Read more at Bloomberg Stocks News

North Sea Dated Brent Crude Oil to Add ConocoPhillips Ekofisk From Today

(Bloomberg) -- North Sea Dated Brent crude, used as
a price benchmark for 60 percent of the world's oil, will
include a fourth grade from today to compensate for shrinking
production from the region.

Ekofisk, produced by ConocoPhillips, will be added to the
blend amid falling output from fields such as Royal Dutch Shell
Plc's Brent, Platts, which assesses oil prices, said April 19.
Dated Brent is also known as Brent-Forties-Oseberg, or BFO,
because it combines the three crude varieties.


Read more at Bloomberg Energy News

U.K. Pound Heads for Weekly Drop as BOE Keeps Main Interest Rates on Hold

(Bloomberg) -- The U.K. pound headed for a weekly
drop against the dollar after the Bank of England kept its
interest rates unchanged at its monthly meeting yesterday.

The nine-member Monetary Policy Committee, led by Governor
Mervyn King, kept the Bank Rate at 5.5 percent, as predicted by
58 of 62 economists in a Bloomberg News survey. The pound has
benefited from four interest-rate increases in the past year and
inflation that touched a decade-high of 3.1 percent.


Read more at Bloomberg Currencies News

Crude Oil Falls From 9-Month High After Cyclone Weakens, Misses Platforms

(Bloomberg) -- Crude oil fell from a nine-month high
in New York after Cyclone Gonu weakened and missed oil and gas
platforms near Oman's coast.

The storm is dissipating after sweeping across coastal Oman
and Iran. A least 28 people died in the two countries, the
Associated Press reported.


Read more at Bloomberg Energy News

Bank of East Asia Hires JPMorgan to Sell 10-Year Denominated Dollar Bonds

(Bloomberg) -- Bank of East Asia Ltd., Hong Kong's
third-biggest publicly traded bank, hired JPMorgan Chase & Co. to
sell 10-year dollar-denominated bonds to boost its capital,
according to an e-mail sent to investors.

The Hong Kong-listed bank will meet investors in Singapore
and Hong Kong next week to market the securities, whose coupon
will increase from the end of the fifth year, the e-mail said.


Read more at Bloomberg Bonds News

Rising rate fears hammer stocks and bonds

(Reuters) - Most major stock indexes fell more than 1 percent, although China's Shanghai Composite Index bucked the trend, adding 0.2 percent after a blizzard of positive commentary about stocks in state-owned media was seen as more evidence that authorities did not want a further sharp drop of the market.




Japanese government bonds buckled under the strain after U.S. Treasury yields of all maturities rose above 5 percent for the first time since last July. Investors are betting the Federal Reserve would keep interest rates higher for longer to keep inflation at bay.


Read more at Reuters.com Hot Stocks News

Capital Strategic Sells $50 Million of Bonds to Hedge Fund Stark, 6 Others

(Bloomberg) -- Capital Strategic Investment Ltd., a
Hong Kong-based investor in real estate, will raise HK$390
million ($50 million) after agreeing to sell convertible bonds to
seven investors including hedge fund Stark Investments.

The investors -- Stark, Lehman Brothers Holdings Inc.,
Citadel Equity Fund Ltd., Perry Principals LLC, Credit Suisse
Group, Harmony Investment Fund Ltd., and SBI E2-Capital
Securities Ltd. -- can convert the five-year 2 percent bonds into
Capital Strategic's shares at 51 Hong Kong cents apiece, 29
percent above the closing price yesterday, the company said in a
statement to the Hong Kong Stock Exchange today.


Read more at Bloomberg Emerging Markets News

JGBs tumble, hurt by losses in Treasuries

(Reuters) - An unexpected rate hike by New Zealand a day after the
European Central Bank hiked rates to curb price pressure ignited
fears of tighter monetary policy worldwide, intensifying a
sell-off in U.S. Treasuries on Thursday.




The benchmark 10-year JGB yield spiked up to a fresh 10-month
high above 1.9 percent while benchmark euroyen futures fell to a
decade low.


Read more at Reuters.com Bonds News

Asian Stocks Decline for Second Day on Interest Rate Concerns; Honda Falls

(Bloomberg) -- Asian stocks retreated for a second
day on concern rising global interest rates will curb consumer
spending and corporate profits.

Benchmarks in markets open for trading all plunged by more
than 1 percent, sending the Morgan Stanley Capital International
Asia-Pacific Index to its biggest loss in two weeks. Honda Motor
Co., which gets 80 percent of its revenue from overseas sales,
and Samsung Electronics Co., South Korea's largest exporter, fell
after U.S. bond yields jumped, fueling speculation interest rates
will increase in the region's largest export market.


Read more at Bloomberg Stocks News

JGB slide deepens on Treasury sell-off

(Reuters) - December euroyen futures fell as much as 3.5 basis
points to 98.945, a 10-year low. June JGB futures tumbled 0.65
point to 131.60 , an 11-month trough. The five-year yield
struck an all-time high of 1.520 percent, also up 6
basis points.




Read more at Reuters.com Bonds News

Japan's Machine Orders Rebounded in April as Companies See Demand Growing

(Bloomberg) -- Japan's machinery orders rebounded in
April, signaling companies are optimistic demand from overseas
and at home will accelerate.

Orders rose a seasonally adjusted 2.2 percent to 1.01
trillion yen ($8.3 billion) from March, the Cabinet Office said
in Tokyo today. The median estimate of 42 economists surveyed by
Bloomberg News was for a 4.5 percent increase.


Read more at Bloomberg Bonds News

Infinera leaps as much as 63 percent in market debut

(Reuters) - Infinera's offering of 14 million shares sold for $13 per share on Tuesday, compared with a $10 to $12 forecast range.




The chip-maker's gains compare with a 9.3 percent average gain in market-debut shares so far this year, according to data tracker Dealogic.


Read more at Reuters.com Hot Stocks News

National Semi profit, revs beat targets

(Reuters) - National Semi also said inventory was relatively low, the latest sign it worked through a glut.




Revenue rose 5.8 percent from the preceding quarter, with higher demand for power management, audio, amplifier, data converter and display chips and other products.


Read more at Reuters.com Business News

Other possible Dow Jones bidders surface

(Reuters) - Ownership Associates founder Christopher Mackin, who is helping the union find alternative bids, said the entrepreneur and the group made contact with him. He declined to give their names.




The news comes after the head of the company that owns Philadelphia's leading daily newspapers said he would be interested in mounting a counter bid against News Corp. and its chairman and chief executive Rupert Murdoch.


Read more at Reuters.com Business News

Citigroup Equity Analysts Say Buy Stocks, Currency Analysts Say Sell Them

(Bloomberg) -- Citigroup Inc. says buy stocks.
Citigroup Inc. says sell stocks.

The New York-based bank's equity and capital markets
divisions published opposing views on the U.S. stock market this
week after the Standard & Poor's 500 Index climbed to a record.


Read more at Bloomberg Stocks News

US mortgage rates rose on Thursday - BestInfo

(Reuters) - The 30-year mortgage rate with one upfront point rose 1/8
of a percentage point to 6-5/8 percent.




The 30-year mortgage rate with two upfront points rose 1/8
of a percentage point to 6-3/8 percent.


Read more at Reuters.com Bonds News

Argentina's First Post-Default Fixed-Rate Issue Sold to Yield 11.7 Percent

(Bloomberg) -- Argentina sold $487.4 million of
five-year fixed-rate peso bonds to yield 11.7 percent, the first
offering of fixed-rate debt since the country defaulted six
years ago.

Argentina obtained bids totaling $1.7 billion, or about
triple the amount offered, the economy ministry said in an e-
mailed statement. Argentina last sold debt May 10. when it
issued $750 million of 10-year dollar bonds to yield 8.44
percent.


Read more at Bloomberg Bonds News

Immigration bill dealt blow in Senate

(Reuters) - The Senate fell 27 votes short of the 60 needed to advance the bill toward a final vote, dealing a serious blow to the comprehensive effort to overhaul immigration law before Bush leaves office in January 2009.




The bill, which has drawn fire from both the right and the left, ties tough border security and workplace enforcement measures to a plan to legalize most of the 12 million illegal immigrants in the United States.


Read more at Reuters.com Bonds News

UPDATE 1-Pimco's Gross says he's now a "bear market manager"

(Reuters) - NEW YORK, June 7 - Long-time bond bull Bill
Gross, just a year after declaring the end of the bear market
for U.S. Treasuries, on Thursday conceded the snappy pace of
global economic growth will likely keep bonds on their heels.




Furthermore, Gross forecast that benchmark Treasury yields
will range higher than previously thought, prompting him to
acknowledge he is now a "bear market manager" after a quarter
of a century as the global bond market's most powerful bull.


Read more at Reuters.com Bonds News

Automakers warm to fuel savings proposal

(Reuters) - "The proposed increases in fuel economy requirements would
present major technology challenges for automakers, requiring
tremendous investments over a sustained period of time,"
McCurdy said.




The plan would require that new compacts, sedans and wagons
boost fuel economy by 8.5 miles per gallon to 36 mpg by 2022.
The standard for sport utilities, pickups and vans would rise
by 7.8 mpg to 30 mpg by 2025.


Read more at Reuters.com Bonds News

Internet exec, Wall St group eye Dow Jones: adviser

(Reuters) - Mackin also said Yucaipa Cos., the investment firm run by Los Angeles billionaire investor Ron Burkle, is working with the union, but "has not committed funding or financing."




The union also is open to more than one way to structure a union-led buyout of Dow Jones if the opportunity arose, including an employee stock ownership plan, Mackin said.


Read more at Reuters.com Mergers News

Internet exec, Wall St group eye Dow Jones-adviser

(Reuters) - Mackin also said Yucaipa Cos., the investment firm run by
Los Angeles billionaire investor Ron Burkle, is working with
the union, but "has not committed funding or financing."




The union also is open to more than one way to structure a
union-led buyout of Dow Jones if the opportunity arose,
including an employee stock ownership plan, Mackin said.


Read more at Reuters.com Bonds News

Care Investment sees IPO of 18.8 mln shares at $15-$17 each

(Reuters) - In March, the company had said it expects to raise up to
$275 million in an IPO.





Read more at Reuters.com Government Filings News

Environmentalist dreams of New York rooftop farms

(Reuters) - New York Sun Works has opened an environmentally friendly Science Barge to prove its point. Moored on the Hudson River, it grows and harvests lettuce, cucumbers and tomatoes in a greenhouse using rain and energy from solar panels and wind turbines and biofuels.




The nonprofit group says that if similar outfits, with hydroponic systems using water and no soil, were installed on the city's 14,000 acres of unshaded rooftop, it could feed as many as 20 million people in New York City and the surrounding metropolitan area year round.


Read more at Reuters.com Bonds News

Medco up at new high after U.S. government contract

(Reuters) - Based on the contract award, JP Morgan analyst Lisa Gill raised her forecast for 2008 Medco earnings to $4.20 per share from $4.08. Gill, who has an "overweight" rating on the stock, also boosted her six-month share-price target to $88 from a February target of $80.




Medco shares were up $2.17, or 2.8 percent, at $79.26 in morning New York Stock Exchange trade after climbing as high as $80.90 early in the session.


Read more at Reuters.com Hot Stocks News

Ingersoll-Rand, Daimler Lead Gains in World Stock Markets by Shrinking

(Bloomberg) -- Some of the best-performing shares
worldwide this year belong to companies that are beating the
stock market by getting smaller.

Temple-Inland Inc., whose products range from paper to
loaning money, Ingersoll-Rand Co., a producer of construction
equipment and trucks, and German carmaker DaimlerChrysler AG are
leading gains worldwide as they spin off or sell units to
concentrate on more profitable businesses.


Read more at Bloomberg Exclusive News

Smithfield to decide soon on new U.S. beef plant

(Reuters) - "We are going to do something one way or the other in the
next 90 days. We are going to make some decision," said
Smithfield Chief Executive Larry Pope. "We have a very strong
interest in being bigger in beef."




Pope said Smithfield, which at one time was interested in
buying Swift, was not disappointed it was not the buyer.


Read more at Reuters.com Mergers News

Bond slump worsens as yields race above 5 pct

(Reuters) - Yields across all maturities rose to or above 5 percent for the first time since July and benchmark rates posted their biggest one-day spike in seven months.




Ten-year notes dived 26/32 in price, pushing yields a full 10 basis points to 5.10 percent. The 30-year bond tumbled a gaping 1-13/32, a drop exacerbated by selling from mortgage investors.


Read more at Reuters.com Business News

U.S. mortgage bond prepayments increase in May

(Reuters) - Overall fixed-rate agency prepayment speeds rose by 5
percent in May, with the paydowns increasing to $42 billion
from $40 billion, according to JPMorgan.




Net fixed-rate, mortgage-backed securities issuance was
about $32 billion, the company said in a research report.


Read more at Reuters.com Bonds News

European Stocks Fall on Yield Concerns, Led by UBS, E.ON; Volvo Declines

(Bloomberg) -- European stocks headed for the longest
losing streak in three months after the U.S. 10-year bond yield
rose above 5 percent for the first time since August, deepening
concern central banks are poised to raise interest rates.

UBS AG, the region's biggest bank by assets, utility E.ON AG
and insurer Axa SA paced declines by companies most sensitive to
higher rates. Volvo AB and SKF AB led industrial companies lower
after brokerages downgraded the stocks.


Read more at Bloomberg Stocks News

UPDATE 1-TJX same-store sales up 5 percent in May

(Reuters) - Analysts on average had been expecting a same-store sales
rise of 3.9 percent, according to a Reuters survey.




"The month was very strong as warm weather sparked demand
for spring and summer apparel across all divisions," Chief
Executive Carol Meyrowitz said in a statement.


Read more at Reuters.com Market News

Rite Aid May same-store sales up 1.7 percent

(Reuters) - Total drugstore sales for the five weeks ended June 2 rose 2.2 percent to $1.72 billion. Pharmacy same-store sales rose 1.9 percent and same-store sales of general merchandise such as food, snacks and cosmetics were up 1.4 percent.



Rite Aid, based in Camp Hill, Pennsylvania, bought the U.S. Eckerd and Brooks chains from Canada's Jean Coutu Group Inc. on June 4. Those stores were not included in the company's May sales results.


Read more at Reuters.com Market News

Nickel Falls to 10-Week Low After Exchange Changes Rules, Inventories Rise

(Bloomberg) -- Nickel fell to a 10-week low, erasing
its leading position this year on the London Metal Exchange, as
stockpiles rose and the bourse imposed new rules to curb what one
analyst described as ``collusive'' trading.

Two or more companies each holding 25 percent or more of
LME-monitored nickel stockpiles now need to make more metal
available to other buyers. Inventories tracked by the LME
increased 2.4 percent to 8,604 tons, the highest since July 10.


Read more at Bloomberg Commodities News

Analogic to buyback up to $60 mln of shares

(Reuters) - Analogic had about 14 million shares outstanding as of May
31.





Read more at Reuters.com Mergers News

Sanmina-SCI, Bristow Plan to Sell Debt Today: U.S. Corporate Bond Alert

(Bloomberg) -- Sanmina-SCI Corp., the second-largest
manufacturer of electronics for other companies, and helicopter
services provider Bristow Group Inc. are among borrowers seeking
to raise at least $33.5 billion of bonds in the U.S., according
to data compiled by Bloomberg.

Borrowers have sold $21.7 billion of bonds this week,
compared with $4.2 billion at the same point during the prior
week. Sales year-to-date total $559.3 billion, up from $475.6
billion a year ago.


Read more at Bloomberg Bonds News

Hayes Lemmerz quarterly net loss narrows

(Reuters) - The net loss narrowed to $15.3 million, or 38 cents per share, in its fiscal first quarter ended April 30, from a loss of $17.6 million, or 46 cents per share, a year earlier.



) Keywords: HAYESLEMMERZ RESULTS/


Read more at Reuters.com Market News

US STOCKS-Futures turn lower as bond yields top 5 pct

(Reuters) - S&P 500 futures were down 0.2 points, below fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.




Dow Jones industrial average futures fell 9 points,
and Nasdaq 100 futures were down 3 points.


Read more at Reuters.com Bonds News

PNC to buy New Jersey bank Yardville

(Reuters) - The transaction is expected to close early in the fourth quarter and result in a $27 million after-tax charge to PNC in that quarter. Pittsburgh-based PNC, Pennsylvania's largest bank, expects the deal to add to earnings per share in 2008.




Read more at Reuters.com Mergers News

UPDATE 1-Christopher & Banks May same-store sales rise 4 pct

(Reuters) - Total sales for the four weeks ended June 2 were $50.7
million, compared with $46.6 million last year.




The Minneapolis-based retailer said total sales for the
first quarter rose to $149.4 million from $142.5 million last
year. Analysts on average expected revenue of $148.0 million
for the first quarter, according to Reuters Estimates.


Read more at Reuters.com Market News

Gold Declines in London as Dollar Extends Gains Against Euro; Silver Drops

(Bloomberg) -- Gold dropped in London on expectations
that a rebound in the dollar against the euro may reduce demand
for the precious metal as an alternative investment. Silver fell
for a second day.

Gold gained 23 percent last year as the dollar dropped 10
percent against the euro and rising prices for raw materials such
as copper, orange juice and corn spurred demand for a hedge
against inflation. The dollar has rebounded from a record low in
April and U.S. consumer price increases slowed.


Read more at Bloomberg Commodities News

Limited May same-store sales rise 2 percent

(Reuters) - Net sales for the company, whose store chains include
Victoria's Secret, Express, Limited and Bath & Body Works, were
$774.7 million in the four weeks ended June 2, up from $719.4
million in the same period last year.




Read more at Reuters.com Market News

Bush to Wrest G-8 Climate Concessions, Escape Fixed Emission-Cut Targets

(Bloomberg) -- President George W. Bush moved closer
to winning a Group of Eight commitment to combat global warming
without shackling the U.S. to a specific target for emissions
cuts.

After giving ground to European critics last week by
proposing an international conference to stem man-made pollution
that is overheating the earth's atmosphere, Bush balked at
European calls for a goal of cutting greenhouse gas emissions in
half by 2050.


Read more at Bloomberg Energy News

U.S. Stock-Index Futures Advance; Home Depot, DuPont Shares Gain in Europe

(Bloomberg) -- U.S. stock-index futures gained as
some investors said this week's drop in equities was excessive,
creating opportunities to buy at reduced prices.

Home Depot Inc., the largest U.S. home improvement chain,
and DuPont Co., the third-biggest chemical company in the
country, led gains among shares that lost the most in the
previous two days. ADC Telecommunications Inc. advanced in
extended U.S. trading after the maker of phone-networking gear
said second-quarter profit quadrupled.


Read more at Bloomberg Stocks News

Gold edges higher on oil, Tokyo futures follow

(Reuters) - Cash gold edged higher on Thursday, bolstered by inflation concerns provoked by high oil prices, and Tokyo gold futures followed it higher by the close.

But analysts said chances seemed slim for further gains in bullion beyond a key resistance without any fresh news.


Read more at Reuters Africa

UPDATE 2-Vodafone urged to free up cash for shareholders

(Reuters) - LONDON, June 7 - British-based mobile phone
company Vodafone Group Plc from its assets to return to shareholders.




ECS Assets PCC Ltd, whose backers include John Mayo, the
former deputy chairman of telecoms equipment maker Marconi, said
it had drawn up four resolutions to be put to Vodafone's annual
shareholder meeting on July 24.


Read more at Reuters.com Mergers News

French Stocks Slide; Vinci, BNP Paribas and Pernod Ricard Pace Declines

(Bloomberg) -- French stocks dropped, paced by Vinci
SA, BNP Paribas SA and Pernod Ricard SA.

The CAC 40 Index fell 20.43, or 0.3 percent, to 5957.44 at
9:48 a.m. in Paris. The SBF 120 Index decreased 0.4 percent.


Read more at Bloomberg Stocks News

Telefonica May Sell Its First Bonds in Yen, Plans Dollar Issue, CFO Says

(Bloomberg) -- Telefonica SA, Europe's most indebted
phone company, may sell its first bonds in Japanese yen to widen
investor support for its 51.9 billion euros ($70 billion) of
debt.

The Spanish company, which yesterday raised $380 million in
a debut sale of Czech koruna notes, is working with Japanese
banks on a possible yen bond issue before the August vacation
period, Chief Financial Officer Santiago Fernandez Valbuena said
in an interview this week at Telefonica's headquarters in Madrid.
A U.S. dollar bond sale is also likely, he said.


Read more at Bloomberg Bonds News

French Stocks Rise; Michelin, Bouygues, Societe Generale Lead the Gains

(Bloomberg) -- French stocks rose, led by Michelin &
Cie., Bouygues SA and Societe Generale SA.

The CAC 40 Index gained 18.01, or 0.3 percent, to 5995.88 at
9:07 a.m. in Paris. The SBF 120 Index also increased 0.3 percent.


Read more at Bloomberg Stocks News

Chicago Corn Rises on Concern About Hot Weather; Soybeans Up; Wheat Down

(Bloomberg) -- Chicago corn futures rose for the
first day in five on speculation hot and dry weather in the U.S.
Midwest may damage yields for the biggest U.S. crop. Soybean
futures also gained. Wheat futures fell.

Rainfall was less-than-expected yesterday and the National
Weather Service's 6 to 10 day forecast showed above normal
temperatures in the U.S. Midwest, including Indiana, Ohio and
Illinois, said Kenji Kobayashi, an analyst at Kanetsu Asset
Management in Tokyo.


Read more at Bloomberg Commodities News