Icade, JCDecaux, Nexans, PSA, Renault and Ubisoft: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

The CAC 40 Index shed 101.69, or 1.7 percent, to 5907.47.
The SBF 120 Index lost 1.6 percent.


Read more at Bloomberg Stocks News

Inter Parfums posts Q2 sales below analysts' view

(Reuters) - Analysts on average were expecting revenue of $84 million,
according to Reuters Estimates.





Read more at Reuters.com Market News

TREASURIES-Benchmark yields hit 7-week lows as stocks sag

(Reuters) - NEW YORK, July 24 - U.S. government bond prices
rose on Tuesday as worries over the housing market knocked
stocks and heightened risk aversion, pushing benchmark Treasury
yields to seven-week lows.




However, a lack of liquidity, and perceptions that
Treasuries were at expensive levels, limited safe-haven flows
from the equity market, analysts said. Shares on Wall Street
tumbled after poor profits from companies related to the
housing market spooked investors. For details, see [.N].


Read more at Reuters.com Bonds News

UPDATE 2-Liberty Property to acquire Republic Property Trust

(Reuters) - The $14.70 a share offer was 28 percent more than
Republic's closing share price on July 23.




Liberty Property, which owns, develops and manages
industrial and office properties in the United States and
Britain, said with the aquisition, it would own "a very high
quality portfolio in one of the premier U.S. office markets."


Read more at Reuters.com Bonds News

PepsiCo profit tops view; repeats M&A plan

(Reuters) - By Martinne Geller



NEW YORK, July 24 - PepsiCo Inc. posted a greater-than-expected quarterly profit on Tuesday on a lower tax rate, higher sales of Frito-Lay snacks and strength in international markets.


Read more at Reuters.com Market News

Air China, Kia Motors, Samsung Electronics: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news that
broke after markets closed. Prices are from the local market's last
close. Stock symbols are in parentheses after company names.

Air China Ltd. (753 HK): The nation's largest international
carrier said first-half profit this year is projected to surge more
than 20-fold because of growing demand for its services and gains
in investments and the yuan. The stock added 3 cents, or 0.5
percent, to HK$6.18.


Read more at Bloomberg Stocks News

UPDATE 2-US Treasury Secy to make currency plea in Beijing

(Reuters) - WASHINGTON, July 24 - U.S. Treasury Secretary
Henry Paulson will visit Beijing next week to make a
last-minute plea to Chinese leaders for more currency
flexibility as the U.S. Congress prepares to act on legislation
to curb growing trade imbalances with China.




The Treasury said on Tuesday that Paulson will meet with
top Chinese officials including President Hu Jintao and Vice
Premier Wu Yi to discuss "issues of concern to the U.S.
Congress" on July 31 and Aug. 1.


Read more at Reuters.com Bonds News

US Senate backs crackdown on student loan problems

(Reuters) - The bill, which reauthorizes the Higher Education Act and
was approved by a 95-0 vote, would also shorten the financial
aid application form and set up a pilot program in which
lenders would compete for loan business.




The vote is related to a bill the Senate passed on Friday
to cut federal subsidies to student lenders, such as Sallie Mae
, by $18.3 billion and cut interest rates for student
borrowers.


Read more at Reuters.com Bonds News

TREASURIES-Bonds barely higher despite sagging equities

(Reuters) - "Even though there was strength in the TIPS auction, the nominal market is meeting some resistance at current price levels," said Matthew Moore, economic strategist at Banc of America Securities in New York.




The 10-year Treasury note was up 1/32 in price for a yield 4.95 percent, while the 30-year bond fell 3/32, yielding 5.06 percent.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Junk bonds plummet as Allison buyout faces hurdle

(Reuters) - The spread, or extra yield investors demand for the risk of
holding high-yield or junk bonds, widened by about 10 basis
points, market sources said.




"It's dropping like a rock," said Justin Monteith, a market
analyst at high-yield research firm KDP Investment Advisors,
referring to the high-yield bond market.


Read more at Reuters.com Bonds News

White House top economist: inflation in check

(Reuters) - "As of now we just don't see any evidence that that is the case," Lazear told a group of economists at a luncheon.




He said that an overall rise in oil prices is due in part to global demand but strong productivity growth has helped to offset the higher oil prices and keep inflation under control.


Read more at Reuters.com Hot Stocks News

PetroSA eyes exploration after Algeria setback

(Reuters) - South Africa's national oil group PetroSA said on Tuesday it was looking for exploration opportunities after a bid for a gas-to-liquid (GTL) project in Algeria was cancelled in May.

PetroSA had previously expressed confidence in securing the deal to establish a GTL project in Algeria as part of its plans to spread across Africa, but this took a dent when the Algeria plant was dropped because of rising costs.


Read more at Reuters Africa

Argentine stocks, bonds fall in dollar chase

(Reuters) - Bond prices fell an average 2 percent, and Argentina's
country risk, as measured by the J.P. Morgan Emerging Markets
Bond Index , widened by 17 basis points to 372 basis
points over U.S. treasuries, its highest level in 2007.




The Merval index of 16 leading stocks was off 1.17
percent to 2,276.32 points after closing at an all-time high on
Monday.


Read more at Reuters.com Bonds News

Ensco probes payments to customs brokers in Nigeria

(Reuters) - Other companies conducting similar probes into Nigerian
operations include Noble Corp. , GlobalSantaFe Corp.
and offshore supply vessel company Tidewater Inc.
.





Read more at Reuters.com Government Filings News

Inter Parfums H1 sales up 9 pct, confirms FY target

(Reuters) - Higher sales of Lanvin fragrances and good performance for
its main perfume brand Burberry helped make up for
lacklustre trends in the UK market for its Paul Smith scents,
said Inter Parfums, which is controlled through Nasdaq-listed
Inter Parfums Inc. .




Interim earnings are due for publication on Sept. 10.


Read more at Reuters.com Market News

U.S. Stocks Retreat on Earnings; DuPont, Countrywide Financial, Apple Drop

(Bloomberg) -- U.S. stocks slid after Countrywide
Financial Corp. reported slumping profits from the housing rout
and analysts said demand for Apple Inc.'s iPhone is diminishing.

Countrywide, the largest U.S. mortgage lender, plunged the
most in almost a year on earnings that missed analysts'
estimates. DuPont Co., the third-biggest U.S. chemical maker,
posted its steepest drop since 2005 after it said demand
weakened for paint and countertops. Concern that the iPhone,
which Apple expects to be its third-largest business, won't meet
forecasts sent the shares to the biggest slide in six weeks.


Read more at Bloomberg Stocks News

Gold, Silver Gain in New York as Dollar Tumbles to Record Low Against Euro

(Bloomberg) -- Gold rose to an 11-week high in New
York as the dollar tumbled to a record low against the euro,
boosting the appeal of the precious metal as an alternative
investment. Silver also gained.

The dollar fell to a record $1.3852 against the euro and a
26-year low against the pound today on speculation subprime
mortgage losses will deepen and reduce demand for U.S. assets.
Before today, gold had gained 6.8 percent this year as the dollar
slumped 4.4 percent against the euro.


Read more at Bloomberg Commodities News

UPDATE 3-Canada May retail sales soar, suggest rate hikes

(Reuters) - Retail sales soared 2.8 percent in the month, Statistics
Canada said, the biggest monthly increase in nearly a decade,
and well ahead of analyst forecasts of 0.5 percent.




The strong result suggested domestic spending will continue
to underpin inflation pressures, and prompted analysts to
predict continued interest rate hikes from the Bank of Canada.


Read more at Reuters.com Economic News

U.S. SEC charges Canadians over MDS-Molecular deal

(Reuters) - Suman learned about secret merger talks between the
Canadian life sciences company and Molecular, a
high-performance measurement tools provider, from electronic
data he had access to as an information technology specialist,
the SEC alleged.




The U.S. market regulator said Suman, along with his wife,
traded in Molecular shares and call options in January 2007
before the information was made public, resulting in more than
$1 million in profits.


Read more at Reuters.com Government Filings News

Crude Oil Falls on Speculation of Higher Gasoline Output, OPEC Supplies

(Bloomberg) -- Crude oil fell for a third day on
speculation that U.S. refineries are increasing their fuel
production and a signal that OPEC might be willing to pump more.

A report tomorrow may show refineries operated at 91.6
percent of capacity, a 10-month high, according to a Bloomberg
News survey. OPEC will raise output if required, an official of
Iran's Oil Ministry said. Hedge-fund managers and other large
speculators cut long positions, bets that prices would rise, last
week, according to the U.S. Commodity Futures Trading Commission.


Read more at Bloomberg Energy News

UPDATE 1-Kelly Services Q2 earnings rise; cuts '07 EPS view

(Reuters) - The world's fifth-largest recruitment firm, which is
expanding in Japan, China, Hong Kong and Singapore, said it
planned to restructure its operation in the Americas, closing
about 40 commercial branches.




For the third quarter, it said it sees earnings from
continuing operations of 41 cents to 46 cents a share,
excluding planned restructuring costs of its UK and Americas
operations.


Read more at Reuters.com Market News

RPT-UPDATE 1-XTO 2nd-qtr profit rises, sees higher production

(Reuters) - The independent oil and gas producer posted net earnings of
$432 million, or $1.14 per share, versus an adjusted $319
million, or 86 cents per share, in the year-ago quarter.




On that basis, analysts on average had expected the company
to earn $1.13 per share, according to Reuters Estimates.


Read more at Reuters.com Market News

RPT-UPDATE 1-JetBlue reports stronger profit, will slow growth

(Reuters) - JetBlue reported net income of $21 million, or 11 cents per
share, compared with $14 million, or 8 cents, a year ago.




Wall Street analysts expected earnings of 11 cents per
share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 3-Gas Natural net up 12 pct on Spain, Latin America

(Reuters) - MADRID, July 24 - Spanish power company Gas
Natural posted a 12 percent rise in first-half net
profit on Tuesday, boosted by its gas business in Spain and
Latin America but falling short of market forecasts.




Net profit rose to 510.6 million euros from
456 million in the first six months of 2006 and compared with
the average forecast of 523 million euros in a Reuters poll.


Read more at Reuters.com Market News

Theft sparks Nigeria kerosene shortage, tanker jam

(Reuters) - Constant theft of kerosene from a pipeline near Nigeria's largest city Lagos has caused a shortage across the country and long tanker queues offshore, the head of the national oil company said on Tuesday.

Thieves regularly bore into the fuel pipeline near the country's main import terminal at Atlas Cove, siphoning fuel into jerry cans for sale on a thriving black market.


Read more at Reuters Africa

UPDATE 1-NJ's Commerce Bancorp profit falls 3 pct

(Reuters) - Net income for the Cherry Hill-based company fell to $76.9
million, or 39 cents per share, from $79.5 million, or 41
cents, a year earlier. Revenue rose 12 percent to $519.4
million, though net interest margin, the gap between what
Commerce earns on loans and pays on deposits, fell to 3.22
percent from 3.39 percent.




Commerce last month replaced Chief Executive Vernon Hill,
who founded the company in 1973, under pressure from regulators
critical of the bank's business dealings with insiders. These
included real estate dealings with Hill's own partnerships, and
services by his wife's architectural design firm.


Read more at Reuters.com Bonds News

US STOCKS-Wall St indexes drop on profit jitters

(Reuters) - NEW YORK, July 24 - U.S. stocks fell on Tuesday
as disappointing profits from DuPont Co. and other
bellwether companies fueled concerns about the housing slump
and its impact on the economy and earnings growth.




A gloomy housing outlook from USG Corp. , the
world's largest seller of gypsum wallboard used in home
building, added to the market's glum mood. For details, see
[ID:nN24431178].


Read more at Reuters.com Bonds News

Sarkozy, U.S. Lawyers Shift Battleground Over Class-Action Suits to Europe

(Bloomberg) -- French President Nicolas Sarkozy,
Deutsche Telekom AG shareholders and American lawyers are laying
the groundwork to make Europe the next battleground for U.S.-
style class-action lawsuits.

The unlikely allies are pushing for changes that encourage
group litigation and send a chill through corporate Europe.
Cohen, Milstein, Hausfeld & Toll PLLC set up a London class-
action practice this year as European regulators plan to make it
easier for consumers to sue cartels and monopolies.


Read more at Bloomberg Exclusive News

UPDATE 2-Occidental 2nd-qtr earnings rise on asset sales

(Reuters) - Net income rose to $1.41 billion, or $1.68 a share, from
$860 million, or 99 cents a share, a year earlier.




Excluding 50 cents in after-tax gains from the asset sales,
Occidental would have earned around $1.18 a share. The sales
included the company's stake in Lyondell Chemical Co. ,
assets in Pakistan, and a swap of assets with British oil major
BP Plc .


Read more at Reuters.com Mergers News

Zarlink reports first-quarter loss

(Reuters) - Zarlink, which is buying semiconductor firm Legerity
Holdings Inc. for $134.5 million in cash, said it lost $5
million, or 5 cents per share, in the three months ended June
29. That compares with a profit of $4.2 million, or 3 cents per
share, in the same period a year earlier.




Read more at Reuters.com Market News

UPDATE 1-Zarlink posts first-quarter loss

(Reuters) - Zarlink, which is buying semiconductor firm Legerity
Holdings Inc. for $134.5 million in cash, said it lost $5.0
million, or 5 cents a share, in the three months ended June 29.
That's down from a profit of $4.2 million, or 3 cents per
share, in the same period a year earlier.




Revenue was $30.6 million, down from $38.4 million a year
earlier.


Read more at Reuters.com Market News

Domino's 2nd-qtr profit drops on expenses

(Reuters) - NEW YORK, July 24 - Domino's Pizza Inc. on Tuesday reported sharply lower quarterly net earnings, mostly due to large recapitalization-related expenses.



Second-quarter net income for the pizza delivery chain dropped to $2.3 million, or 4 cents per share, from $24.5 million, or 39 cents per share, a year earlier.


Read more at Reuters.com Market News

Kimberly-Clark 2nd-quarter profit up, view raised

(Reuters) - CHICAGO, July 24 - Kimberly-Clark Corp. said on Tuesday that quarterly profit jumped 22 percent as savings from its restructuring plan helped offset increased fiber costs, and the company raised its full-year earnings forecast.



Kimberly-Clark, known for Kleenex tissues and Huggies diapers, also entered into a $2 billion accelerated share repurchase agreement, and its board approved more buybacks. Second-quarter profit rose to $461.8 million, or $1 per share, from $377.6 million, or 82 cents per share, a year earlier.


Read more at Reuters.com Bonds News

Developing nations say can work with WTO texts

(Reuters) - Proposals meant to break a deadlock in global free trade talks are "a good starting point" for a push in September towards a final deal, developing country negotiators said on Tuesday.

The Group of 20 (G20) economic powers said the text released last week by New Zealand's WTO ambassador Crawford Falconer, who chairs the World Trade Organisation's farming talks, contained "many gaps" but could be improved in negotiations.


Read more at Reuters Africa

Legg Mason reports stronger quarterly earnings

(Reuters) - Assets under management climbed 16 percent to $992 billion.





Read more at Reuters.com Market News

UPDATE 2-CME profit rises as historic merger completed

(Reuters) - CHICAGO, July 24 - CME Group Inc. said on Tuesday that quarterly profit rose as the company focused on completing a merger between the two largest U.S. futures exchanges.



CME Group was formed by the purchase of the Chicago Board of Trade's parent by Chicago Mercantile Exchange Holdings, which closed earlier this month.


Read more at Reuters.com Market News

Western Union second-quarter earnings fall

(Reuters) - Englewood, Colorado-based Western Union said second-quarter profit was $204.5 million, or 26 cents a share, compared with $218.9 million, or 29 cents, a year earlier.



) Keywords: WESTERNUNION RESULTS/


Read more at Reuters.com Market News

Thailand's Stocks Climb to 10-Year High Led by PTT; World's Biggest Mover

(Bloomberg) -- Thai stocks climbed, driving the key
index to the highest in more than 10 years, on speculation that
the cheapest valuations in Asia will draw more overseas investors
to the nation's equities.

``The market has done extremely well,'' said Hans Goetti,
Singapore-based managing director at Citi Private Bank, which has
assets of $100 billion in Asia. ``It has good value.''


Read more at Bloomberg Stocks News

CME profit rises as historic merger completed

(Reuters) - Second-quarter net income for CME Holdings was $126 million or $3.57 per share against $109.5 million or $3.12 a year ago.




Excluding expenses related to the merger, second-quarter earnings was $3.69 per share, up 18 percent. Analysts on average had expected net income of $3.66 per share, according to Reuters Estimates.


Read more at Reuters.com Business News

UBS Starts Selling 3.2 Billion Euros of BBVA Mandatory Exchangeable Bonds

(Bloomberg) -- UBS AG started selling about 3.2
billion euros ($4.4 billion) of bonds that automatically convert
into shares of Banco Bilbao Vizcaya Argentaria SA, Spain's
second-largest lender.

The five-year exchangeable bonds will pay interest of 3.2
percent to 3.3 percent, Zurich-based UBS said in a note setting
out the terms of the deal. At maturity the bonds convert into
BBVA shares, which need to rise by 18 percent to 21 percent from
current prices for the trade to be profitable, the terms show.
BBVA shares today rose 40 cents, or 2.2 percent, to 18.5 euros in
Madrid.


Read more at Bloomberg Bonds News

DuPont second-quarter profit slips

(Reuters) - Analysts on average had forecast earnings of $1.06 a share,
according to Reuters Estimates.




Quarterly sales rose to $7.88 billion from $7.44 billion.


Read more at Reuters.com Market News

Gasoline, Naphtha Drop in Europe as Brent Oil Slides Toward $76 a Barrel

(Bloomberg) -- European gasoline and naphtha for
this month and next fell as Brent crude oil slipped towards $76
on speculation OPEC may pump more oil to meet year-end demand.
Propane was unchanged after falling for two days.

Gasoline spot prices for July loading in Amsterdam-
Rotterdam-Antwerp fell $2 to $703.50 a metric ton as of 10:12
a.m. in London, according to data compiled by Bloomberg. The
contract dropped for the fourth day. Swaps prices for August
extended losses yesterday, declining $6.37, or 0.9 percent, to
$690.68 a ton, according to London-based energy broker PVM. The
contract fell $14.70 yesterday.


Read more at Bloomberg Energy News

REFILE-Is that a fake in your pocket? Quite possibly...

(Reuters) - LONDON, July 23 - Around one in eight British
shoppers has bought a counterfeit watch, handbag or other
product in the last year as it becomes more socially acceptable,
a study by lawyers Davenport Lyons and Ledbury Research found.




"The most dramatic change in attitudes towards fakes is that
they have reached their tipping point. They have become socially
acceptable," the study said.


Read more at Reuters.com Government Filings News

BP profits down less than expected as output falls

(Reuters) - London-based BP said in a statement that the drop in its second-quarter replacement cost net profit would have been larger had it not been for non-operating gains totaling $741 million, largely from the sale of oil fields and a UK refinery.




Stripping this gain out, the replacement cost profit, which excludes out changes in the value of inventories, fell 12.5 percent to $5.346 billion.


Read more at Reuters.com Business News

Eritrea signs two economic deals with China

(Reuters) - Eritrea has signed two economic agreements with China on expanding the Red Sea state's universities and unspecified technical cooperation, Asmara said on Tuesday.

Chinese trade with Eritrea leapt 369 percent in 2006 based mainly on machinery imports and telecommunications, and in January during a visit, then Chinese Foreign Minister Li Zhaoxing partially cancelled Eritrea's foreign debt.


Read more at Reuters Africa

European Technology Stocks Decline; ARM Holdings, Infineon Lead Slide

(Bloomberg) -- European technology stocks fell, led
by ARM Holdings Plc and Infineon Technologies AG, after U.S.
chipmaker Texas Instruments Inc. reported a drop in profit and
revenue that missed analysts' estimates.

MAN AG paced advancing shares after Merrill Lynch & Co.
recommended buying shares in the German truckmaker. Akzo Nobel NV
jumped after reporting earnings. Wincor-Nixdorf AG and Telenor
ASA sank after posting earnings that missed estimates.


Read more at Bloomberg Stocks News

French Stocks Drop; STMicroelectronics, Renault and BNP Paribas Retreat

(Bloomberg) -- French stocks slid, paced by
STMicroelectronics NV after Texas Instruments Inc., the world's
largest maker of chips that run mobile phones, reported lower
profit and revenue that missed analysts' estimates.

Renault SA and BNP Paribas SA also led declining shares.


Read more at Bloomberg Stocks News

UPDATE 1-Hydro affirms targets after expected Q2 EBIT drop

(Reuters) - OSLO, July 24 - Norway's Norsk Hydro said
quarterly operating profits fell 9 percent, in line with
analysts' forecasts as a strong crown outweighed firm oil and
metal prices, and reaffirmed its 2007 output targets.




The industrial group, which is selling its oil and gas
business to former rival Statoil for $36 billion, has
benefited from high aluminium prices as it seeks to remodel
itself into a focused metal group. For a second consecutive
quarter its aluminium business proved more profitable than
expected.


Read more at Reuters.com Mergers News

Rand eases back, profit-taking may kick in

(Reuters) - South Africa's rand softened against the dollar on Tuesday as dealers predicted some profit-taking would kick in as seen in other emerging markets.

The rand was trading at 6.8306 versus the dollar at 0643 GMT, not far off its New York close of 6.8250 on Monday.


Read more at Reuters Africa