U.S. Stocks Rise on Manufacturing Expansion; Eaton, McDonald's Shares Gain

(Bloomberg) -- U.S. stock indexes rose to records
for a third day on a jump in New York state manufacturing and
earnings results from Eaton Corp. and McDonald's Corp. that
beat analysts' estimates.

Eaton, the world's second-largest maker of hydraulic
equipment, surged the most in the Standard & Poor's 500 Index
after increasing its full-year profit forecast. Verizon
Communications Inc., the second-biggest U.S. phone company,
climbed after the Financial Times said Vodafone Group Plc may
pursue a $160 billion takeover.


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US stock indexes little changed; Verizon up on M&A talk

(Reuters) - U.S. stocks were little changed on Monday as investors paused after Friday's record highs to weigh the latest speculation on the mergers and acquisition front.

Shares of Verizon Communications were the top gainer on the Dow after a Financial Times Web site said on Monday Vodafone Group was considering a $160 billion takeover bid for the U.S. wireless operator. Vodafone denied the report, but Verizon shares still rose 2.5 percent to $42.81.


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Richemont sees growing risks in luxury goods - FT

(Reuters) - Risks seem to be growing for the long-buoyant luxury goods sector, though demand from emerging markets remains robust so far, Richemont Chairman Johann Rupert said in an interview with the Financial Times published on Monday.

Rupert, whose Swiss company owns 16 luxury brands including Cartier watches, Piaget jewellery and Montblanc pens, said he believed a conservative strategy was best to navigate a possible cooling of the red-hot market for high-end accessories.


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Stocks set to open higher on M&A

(Reuters) - Shares of Alcoa rose 2.4 percent in trading before the bell after the Times newspaper in London reported BHP Billiton Ltd./Plc , the world's biggest mining group, may bid for the aluminium producer.




General Electric Co. and Pearson Plc may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.


Read more at Reuters.com Business News

S.African c.bank chief Mboweni criticises Barclays - FT

(Reuters) - South Africa's central bank governor has criticised the 2005 takeover by Barclays Plc of South African retail bank Absa, the Financial Times reported on Thursday.

Reserve Bank governor Tito Mboweni called the British bank's stewardship of Absa "discouraging", the newspaper said.


Read more at Reuters Africa

FTSE at 6-year high, boosted by miners, Sainsbury

Britain's FTSE 100 index rose to a six-year high by midday on Monday, led by mining stocks on a bullish outlook for copper, talk of a buyback from Anglo American and bid speculation around Sainsbury.

Anglo American surged 2.6 percent after the Financial Times reported the miner was expected to announce this week a further share buy-back plan that would return up to $4 billion to shareholders on the back of the boom in metal prices. JPMorgan lifted its price target for the stock.

Other miners were also buoyed by expectations that copper prices were set to rise as China replenished its stocks next week after the Chinese New Year holidays.
Lonmin climbed 2 percent, Kazakhmys gained 1.9 percent, BHP Billiton added 0.7 percent and Rio Tinto put on 1 percent.

Read more at Reuters South Africa