Esker, Maximiles, Meetic, Oberthur, Renault, Sanofi: French Equity Preview

(Bloomberg) -- Shares of the following companies
may rise or fall on the Paris stock exchange. Stock symbols are
in parentheses and prices are from the last close.

The CAC 40 Index declined 15.48, or 0.3 percent, to
6071.67. The SBF 120 Index also fell 0.3 percent.


Read more at Bloomberg Stocks News

Oil steadies ahead of US stocks, Nigeria strike

(Reuters) - Oil prices steadied on Wednesday, as traders waited to see if a threatened strike in Nigeria would cut its crude exports and whether gasoline inventories in the United States have built as forecast.

London benchmark Brent crude edged 3 cents lower to $71.81 a barrel by 0322 GMT, after losing 34 cents on Tuesday when the market pulled back from a 10-month high.


Read more at Reuters Africa

Henderson Global Plans to Make More Investments in Property Outside U.K.

(Bloomberg) -- Henderson Global Investors, owner of
more than $8 billion of European retail properties, will cut
investment spending in the U.K. this year because of slowing
rental growth and falling values in some parts of the country.

The U.K. will account for about 10 percent of the 3 billion
euros ($4 billion) of European investments Henderson funds plan
for this year, compared with 60 percent in 2006, said Patrick
Bushnell, the head of European investment. By the end of 2007,
non-U.K. holdings will rise to half its assets from 30 percent.


Read more at Bloomberg Bonds News

Home Depot to buy back stock, sell supply unit

(Reuters) - The sale of HD Supply to Bain Capital Partners, Carlyle Group and Clayton, Dubilier & Rice unloads a business built up by the home improvement retailer's former chief executive.




Shares of Home Depot rose 3.5 percent to $39.60 in after-hours trading on news the company would repurchase $22.5 billion in stock, or nearly one-third its total market capitalization of $74.9 billion, "as soon as practical."


Read more at Reuters.com Business News

Copper Rises in Asian Trade as Strikes May Disrupt Supply; Zinc Advances

(Bloomberg) -- Copper prices rose in Asia amid
concern strikes at Latin American mines will disrupt supply of
the metal at a time of falling global stockpiles.

Workers at Codelco, the world's biggest copper producer,
Chile's Collahuasi mine and Southern Copper Corp.'s Peruvian
operations have threatened to strike over pay demands. London
Metal Exchange inventories dropped for the 22nd day, by 1,650
metric tons to 114,950 tons, the exchange said yesterday.


Read more at Bloomberg Commodities News

Dollar Trades Near Two-Week Low Against Euro as Treasury Yields Decline

(Bloomberg) -- The dollar traded near a two-week low
against the euro as speculation a housing slump will temper
growth in the U.S. economy helped push down Treasury yields.

The currency headed for a sixth day of declines, the longest
run since April 19, as the yield spread of 10-year U.S. bonds
over similar-maturity German bunds narrowed to the least in a
month. A government report yesterday showed builders broke ground
on fewer homes last month.


Read more at Bloomberg Currencies News

Gold Little Changed in Asia Amid Speculation Rise Overdone; Silver Drops

(Bloomberg) -- Gold was little changed in Asia amid
speculation investors may bet five consecutive days of gains for
the precious metal were overdone. Silver fell.

Gold, which touched a three-month low of $643.38 on June 13,
yesterday posted its largest one-day gain since June 1. Gold has
risen 2.2 percent over the past five days as the dollar fell to
near a two-week low against the euro.


Read more at Bloomberg Commodities News

Anta Seeks $405 Million in Share Sale, Rockets Owner to Invest, People Say

(Bloomberg) -- Anta Sports Products Ltd., a Chinese
maker of sports shoes, may raise as much as HK$3.17 billion ($405
million) in a Hong Kong initial public offering, according to two
people with direct information.

The company will sell 600 million new shares, equivalent to
a 25 percent stake, at HK$4.28 to HK$5.28 each, said the people,
declining to be identified before an official statement. The high
end of the range values the Jinjiang, Fujian province-based
company at 19.7 times its 2008 estimated earnings, they said.


Read more at Bloomberg Emerging Markets News

Blackstone eyes $500 mln stake in BlueStar-paper

(Reuters) - The talks were still at an early stage, the newspaper quoted
market sources as saying.




New York-based Blackstone is making a big push into China to
catch up with rivals.


Read more at Reuters.com Mergers News

South Korean Won Advances to One-Month High on Signs Growth Is Recovering

(Bloomberg) -- South Korea's won climbed to the
highest in more than a month on signs Asia's third-largest
economy is improving after a slowdown in the first quarter.

The won has risen 0.3 percent since the finance ministry
said June 18 the economy is recovering ``gradually,'' buoyed by
export growth and increased spending by consumers and businesses.
The nation's stocks advanced to a record this week.


Read more at Bloomberg Currencies News

Japan's Nikkei 225 Average Slips, Topix Is Little Changed; Honda Declines

(Bloomberg) -- Japan's Topix index added 1.93, or
0.1 percent, to 1782.42 at 9:21 a.m. in Tokyo, after slipping as
much as 0.1 percent.

The Nikkei 225 Stock Average was little changed at
18,166.16.


Read more at Bloomberg Stocks News

PetroChina May Raise $5.6 Billion in Shanghai Share Sale to Fund Expansion

(Bloomberg) -- PetroChina Co., the country's biggest
oil company, plans to sell as many as 4 billion shares in
Shanghai, which may raise 43 billion yuan ($5.6 billion), based
on the company's share price in Hong Kong.

The proceeds of the Shanghai listing will be used to expand
the company's petroleum and gas businesses, PetroChina said in a
statement published in Hong Kong's South China Morning Post
newspaper today.


Read more at Bloomberg Energy News

Oil Is Steady After Stalling at Nine-Month High as U.S. Fuel Price Eases

(Bloomberg) -- Crude oil was little changed in New
York after stalling near a nine-month high yesterday as forecast
gains in U.S. fuel stockpiles and a prediction of an average
hurricane season pulled gasoline lower.

A U.S. Energy Department report today will probably show the
country's below-average gasoline stockpiles rose for a seventh
time last week as refiners increased output, according to a
survey of analysts. Ten tropical storms may form in the Atlantic
during the rest of this summer, U.K. government forecasters said
yesterday.


Read more at Bloomberg Commodities News

S&P cuts Intelsat's debt rating, may cut again

(Reuters) - After the debt financing, Intelsat will have about 10
times as much debt as earnings before interest, taxes,
depreciation and amortization, up from an already aggressive
level of 7.4 times, S&P said in a statement.




S&P lowered Intelsat's rating by one notch to "B-plus,
the fourth-highest junk rating, from "BB-minus."


Read more at Reuters.com Mergers News

Mexican 10-Year Peso Bonds Climb to Two-Week High on Tax Bill Prospects

(Bloomberg) -- Mexico's 10-year peso-denominated
bonds rose, pushing yields to the lowest in two weeks, on
speculation President Felipe Calderon will push his plan to raise
tax collection through congress.

Yields on the 10-year maturity fell for a fourth day and the
peso strengthened as Calderon said he'll unveil his tax overhaul
proposal in the next few days.


Read more at Bloomberg Emerging Markets News

US CREDIT-Wendy's spreads may face further weakness

(Reuters) - The operator of the No. 3 U.S. hamburger chain on Monday
slashed its 2007 earnings forecast and said it would explore a
possible sale of the company instead of other restructuring
options. For details, see [ID:nN18395318].




The cost to insure Wendy's debt with credit default swaps
rose to around 202 basis points, or $202,000 per year for five
years to insure $10 million in debt, from about 185 basis
points before the news.


Read more at Reuters.com Bonds News

UPDATE 1-Whole Foods memo said merger would avoid price war

(Reuters) - The comments were included in a complaint filed by the U.S.
Federal Trade Commission in its lawsuit challenging Whole
Foods' planned takeover of Wild Oats on grounds the deal would
hobble competition and increase prices to consumers.




The complaint was filed June 6, but portions were kept
under seal until Tuesday.


Read more at Reuters.com Mergers News

UPDATE 3-Bank of Korea concerned about strong won

(Reuters) - "We are concerned" about the rise in the South Korean
currency against the yen, Lee Sung-il, senior deputy governor
of the Bank of Korea told Reuters on the sidelines of a
conference. "As you know, the yen/won rate is decided by
arbitrage of the yen/dollar rate so we don't have a choice."




Asked if the central bank would take action to restrain the
won's rise, he said: "No."


Read more at Reuters.com Bonds News

UPDATE 1-US Air Force seeks quick GAO ruling on helicopter

(Reuters) - WASHINGTON, June 19 - The U.S. Air Force said on
Tuesday it would ask the Government Accountability Office to
expedite a ruling on two fresh protests filed about the revised
terms of a $15 billion competition for new search-and-rescue
helicopters.




"Due to the importance of rapidly replacing our aging fleet
of search and rescue helicopters, we're requesting the GAO
utilize the express option and expedited procedures to resolve
this protest," Lt. Gen. Donald Hoffman, military deputy in
charge of Air Force acquisitions, said in a statement.


Read more at Reuters.com Government Filings News

US STOCKS-Indexes flat as yields slip; GE gains ground

(Reuters) - NEW YORK, June 19 - U.S. stocks were little
changed on Tuesday as a dip in benchmark Treasury bond yields
tempered interest-rate worries, but earnings from Best Buy
raised concerns about the health of consumer spending.




One big mover in an otherwise lackluster session was
General Electric Co. . Shares of the No. 2 U.S. company
by market capitalization tackled a key technical level,
triggering further gains.


Read more at Reuters.com Bonds News

Yahoo investors see CEO switch as more of the same

(Reuters) - Yahoo shares dropped 1.5 percent on Tuesday, partly retracing gains of more than 6 percent in extended trading on Monday after the company said co-founder Jerry Yang would take over the chief executive role from Terry Semel.




Some shareholders had bet that Yang's taking the helm signaled more drastic changes, such as extensive partnerships with technology and media players, or even a potential merger.


Read more at Reuters.com Business News

Allos, Circuit City, DirecTV, FactSet, Finish Line: 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 1:10 p.m. New York time.

Allos Therapeutics Inc. (ALTH US) fell 10 cents, or 1.8
percent, to $5.51. The developer of cancer drugs said in a
statement sent by PR Newswire that its efaproxyn drug did not
show a ``statistically significant improvement in overall
survival'' in a phase 3 study. The stock was downgraded to
``buy'' from ``strong buy'' by Needham & Co. analyst Mark
Monane, who cited the study.


Read more at Bloomberg Stocks News

U.S. Stocks Rise as Bond Yields Slip; General Electric, Textron Advance

(Bloomberg) -- U.S. stocks rose after bond yields
fell for a third day, easing concern that higher borrowing costs
will restrain consumers and businesses.

Textron Inc., the world's largest maker of corporate jets,
sent industrial shares to the biggest gain in the Standard &
Poor's 500 Index after Goldman, Sachs & Co. advised clients to
buy the shares. General Electric Co., Bank of America Corp. and
JPMorgan Chase & Co. led shares of companies that benefit from
falling interest rates.


Read more at Bloomberg Stocks News

UPDATE 1-Portman to step down as White House budget chief

(Reuters) - WASHINGTON, June 19 - White House budget director
Rob Portman is stepping down and will be replaced by former
Iowa Rep. Jim Nussle, U.S. officials said on Tuesday.




Portman, who is also a former congressman, said through a
spokesman that he had decided that after many years in public
life, he wanted to spend more time with his family.


Read more at Reuters.com Bonds News

BOK dep gov says concerned about won strength vs yen

(Reuters) - Asked if the central bank would take action to restrain the
won's rise, he said: "No."




The won has risen about 4 percent against the yen this year
to near 10-year highs.


Read more at Reuters.com Bonds News

Nordic Shares Slide, Paced by Hennes & Mauritz; Genmab Slumps on Downgrade

(Bloomberg) -- Nordic stocks decreased for the
first time in a week, led by Hennes & Mauritz AB. Europe's
second-biggest clothing retailer is scheduled to report second-
quarter earnings tomorrow.

Genmab A/S slumped to a two-month low after Morgan Stanley
downgraded the Danish biotechnology company. UPM-Kymmene Oyj,
the world's third-largest papermaker, also retreated.


Read more at Bloomberg Stocks News

Zambia firm secures $250 mln for key rail project

(Reuters) - Zambia's North-Western Railways (NWR) has agreed a $250 million financing package with lenders from Britain, South Africa and United States to build a rail link in a copper mining region, its chairman said on Tuesday.

Enoch Kavindele said NWR would receive funds from investors and lenders in the three countries to construct a railway line that will eventually link Zambia and Angola's Benguela railways.


Read more at Reuters Africa

U.S. Bank Loan Credit-Default Swap Index Falls Below Par on LBO Concerns

(Bloomberg) -- A credit-default swap index that
allows investors to bet on the health of the U.S. leveraged loan
market fell for a seventh day amid speculation that the record
pace of leveraged buyouts will weigh on loan prices.

The LCDX index, tied to the loans of 100 companies with
high-yield, high-risk ratings fell 0.22 to 99.82, according to
broker Phoenix Partners Group in New York. The index is down
0.81 since May 22, when 14 Wall Street banks began offering the
five-year contracts in the privately negotiated over-the-counter
market. A decline in the price of the index signals
deterioration in the perception of credit quality.


Read more at Bloomberg Bonds News

Sirius, XM Shares Show Greater Risk of Rally Than Slide to Wider Losses

(Bloomberg) -- Since Sirius Satellite Radio Inc.
Chief Executive Officer Mel Karmazin agreed to buy his only
rival, investors have sold both stocks in a bet regulators will
block the deal. Now some analysts say the shares are undervalued.

Sirius, based in New York, and larger XM Satellite Radio
Holdings Inc. have seen their shares fall since the union of the
only two pay-radio companies was announced Feb. 19.


Read more at Bloomberg Exclusive News

Cadbury sees acquisition warchest up to 1 bln stg

(Reuters) - "We will have a warchest of between 500 million pounds and 1 billion pounds for bolt-on acquisitions," said Stitzer at a briefing on its new confectionery strategy.




However, many analysts see Cadbury as a standalone confectionery group more as prey rather then predator, with U.S. rivals Wm. Wrigley Jr. Co. , Hershey Co and Kraft Foods Inc being the most likely buyers.


Read more at Reuters.com Mergers News

Canadian Stocks Decline From Record on Oil, Metals; EnCana, Teck Retreat

(Bloomberg) -- Canadian stocks retreated for the first
time in five days, as falling commodity prices dragged down energy
and raw-materials companies, including EnCana Corp. and Teck
Cominco Ltd.

The Standard & Poor's/TSX Composite Index dropped 44.75 from a
record, or 0.3 percent, to 14,131.67 as of 9:41 a.m. in Toronto.
The benchmark has risen 9.5 percent this year on takeovers and
higher prices for energy and other commodities.


Read more at Bloomberg Stocks News

AT&T says 40 pct of iPhone inquirers not its clients

(Reuters) - CHICAGO, June 19 - About 40 percent of people seeking information about Apple Inc.'s soon-to-be-released iPhone are not AT&T Inc.'s wireless customers, the phone company's Chief Executive Randall Stephenson said on Tuesday.



AT&T has an exclusive agreement to sell the eagerly anticipated device that combines a cell phone with the popular iPod digital music player.


Read more at Reuters.com Market News

US STOCKS-Indexes open down slightly; Best Buy disappoints

(Reuters) - The Dow Jones industrial average was down 17.88
points, or 0.13 percent, at 13,595.10. The Standard & Poor's
500 Index was down 1.44 points, or 0.09 percent, at
1,529.61. The Nasdaq Composite Index was down 6.52
points, or 0.25 percent, at 2,620.08.




Read more at Reuters.com Bonds News

UPDATE 1-U.S. May housing starts fall 2.1 pct, permits up

(Reuters) - The Commerce Department said housing starts set an annual
pace of 1.474 million units in May compared with a 1.506
million unit pace in April. Economists had forecast May housing
starts to drop sharply to a 1.480 million unit pace from the
1.528 million rate originally reported for April last month.




Building permits, which signal future construction plans,
rose in May by 3.0 percent to a pace of 1.501 million units.
Economists had been expecting the permits to hit a 1.471
million unit rate. Permits for single-family homes fell 1.8
percent to their lowest level since July 1997 but permits for
multi-family units jumped 16.5 percent.


Read more at Reuters.com Economic News

Airbus gives bullish orders forecast

(Reuters) - The figure would be down from 790 net orders in 2006 when Airbus surrendered leadership of the global order race to Boeing and saw its market share fall to 43 percent, following delays in building its A380 superjumbo and designing the mid-sized A350.




It is the first 2007 orders forecast issued by Airbus -- it usually predicts only deliveries which are forecast at 440-450 this year, leaving Airbus on top of Boeing -- but reflects the firm's growing optimism as it recovers from a shaky start.


Read more at Reuters.com Business News

Best Buy posts disappointing profit

(Reuters) - Best Buy reported net income of $192 million, or 39 cents a share for its fiscal first quarter that ended June 2, from $234 million, or 47 cents per share, a year earlier.




Analysts, on average, had been expecting it to earn 50 cents per share, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

CanWest Global, CCS Income, Mega Brands and Onex: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets
today. Stock symbols are in parentheses after company names and
prices are from yesterday's close.

The Standard & Poor's/TSX Composite Index gained 39.01, or 0.3
percent, to a record 14,176.42, yesterday in Toronto.


Read more at Bloomberg Stocks News

Bonds flat to lower before home starts data

(Reuters) - The housing industry has remained an economic weak spot, given the lingering effects of the subprime mortgage crisis. The recent jump in mortgage rates could deepen the subprime fallout as measured by the spikes in loan defaults and home foreclosures, analysts said.




Signs of persistent weakness in housing could revive hopes that the Federal Reserve could still cut rates later this year. There have been growing concerns in the bond market that improvement in other areas of the U.S. economy could prompt the Fed to leave interest rates unchanged, analysts said.


Read more at Reuters.com Hot Stocks News

China's Shares Rise to Record on New Investor Inflow; Youngor Leads Gains

(Bloomberg) -- China's stocks rose for the 10th day
in the past 11, pushing the benchmark CSI 300 Index to a record
on expectations investors will keep shifting money into equities
from bank deposits. Youngor Group Co. gained.

``Liquidity is still strong and that will continue to push
shares higher,'' said Yan Ji, an investment manager at HSBC
Jintrust Fund Management Co. in Shanghai, which manages about
$517 million.


Read more at Bloomberg Stocks News

Oil Little Changed as Nigerian Government, Union Talks Ease Strike Threat

(Bloomberg) -- Crude oil traded near a nine-month high
in New York after reports Nigerian unions had started talks with
the government to avert a strike that would affect Africa's largest
oil industry.

Nigeria's two main oil unions plan to meet the government and
hold internal talks today to decide on the strike tomorrow, Reuters
reported, citing Peter Akpatason, the president of the National
Union of Petroleum & Natural Gas Workers.


Read more at Bloomberg Energy News

Italy allows U.S. fund into Alitalia bidding again

(Reuters) - The Italian treasury, which has so far said that no new entrants would be allowed into the auction, said the firm could present a binding offer alongside the other bidders -- smaller Italian carrier Air One and Russian airline Aeroflot .




MatlinPatterson was earlier in a consortium with fellow U.S. private equity shop TPG , which withdrew from the auction last month citing difficulties with the conditions imposed by the Italian government.


Read more at Reuters.com Business News

REFILE-Ron Burkle may bid for Dow Jones this week -report

(Reuters) - Burkle, a member of Yahoo! Inc.'s board of
directors, has been trying to enlist Yahoo! as a partner for a
bid, according to the report.




Burkle is also considering other partnerships in conjunction
with Dow Jones's union, Fortune said, citing a source in the
Burkle camp and adding that the billionaire has a history of
being a strong union supporter.


Read more at Reuters.com Mergers News

U.K.'s FTSE 100 Index Falls, Paced by Tesco on Slowing Sales; Capita Gains

(Bloomberg) -- U.K. stocks fell, led by Tesco Plc.
Shares of the nation's largest supermarket chain tumbled the most
in almost two years after it reported sales growth in the first
quarter that trailed analysts' estimates.

Marks & Spencer Group Plc, the U.K.'s largest clothing
retailer, also declined. Capita Group Plc rallied after Citigroup
Inc. recommended buying shares in the operator of London's
traffic congestion charge.


Read more at Bloomberg Stocks News

Nigerian strike still on despite concessions

(Reuters) - Nigerian labour unions said a general strike in Africa's top oil producer will go ahead as planned on Wednesday despite concessions offered by the government.

In a meeting on Monday night, the government offered to take back half a 10 naira per litre (8 cents) increase in the fuel price, among other concessions to unions whose action threatens to halt oil shipments from the world's eighth largest exporter.


Read more at Reuters Africa

"Near-recessionary" growth until '08: report

(Reuters) - Exports, business investment and wealthy consumers will
help propel the recovery from below-trend growth through the
first quarter of next year, according to the outlook by the
UCLA Anderson Forecast unit.




The economic forecasting unit sees the Federal Reserve as
hesitant to lower interest rates despite the first quarter's
weak growth and an outlook for "continued softness" this year
while core inflation holds above its "comfort zone."


Read more at Reuters.com Economic News

Persian Gulf Crude Oil Tanker Rates May Rise as OPEC Increases Production

(Bloomberg) -- The cost of shipping Middle East
crude to Asia, which fell yesterday for the first time in five
days, may rise as OPEC members increase oil production,
bolstering tanker demand.

The expectation of higher output may allow operators to
negotiate higher charter rates, said Nikos Varvaropoulos, a
tanker broker for Optima Shipbrokers in Athens. The
International Energy Agency, an adviser to 26 oil-consuming
nations, said June 12 that the Organization of Petroleum
Exporting Countries' production will climb by 700,000 barrels a
day in the third and fourth quarters.


Read more at Bloomberg Energy News

U.K. Day-Ahead Natural Gas Declines as Fuel Supplies in Network Increase

(Bloomberg) -- U.K. natural gas for next-day
delivery declined as the amount of the fuel in the country's
transportation network grew. The month-ahead price fell.

Gas for delivery a day ahead at the National Balancing
Point, the U.K. trading hub, dropped 4.1 percent to 20.95 pence
a therm at 8:02 a.m. in London, according to prices on Bloomberg
from the energy broker ICAP Plc. That equals $4.16 a million
British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

Yen hits lows, Asia stocks struggle to hold gains

(Reuters) - European shares were seen unlikely to make much headway following lackluster leads from Wall Street and Asia. Financial bookmakers expect London's FTSE 100 index to open between 3 and 7 points lower.




Oil prices backed off Monday's 10-month peak to near $72 a barrel but supply worries were seen limiting the downside.


Read more at Reuters.com Hot Stocks News

ICICI Bank's $2.15 Billion Share-Sale in India Sold Out Within 20 Minutes

(Bloomberg) -- ICICI Bank Ltd., India's second-
biggest financial services company, received bids for the entire
87.50 billion rupees ($2.15 billion) of shares on offer in the
first 20 minutes of the sale in India.

Investors bid for as many as 100.5 million shares, compared
with the 98.87 million shares on offer at 10:45 a.m., the
National Stock Exchange said on its Web site.


Read more at Bloomberg Emerging Markets News