Emerging-Market Stocks Aren't Worth the Risk as Returns Fade, Lehman Says

(Bloomberg) -- Emerging-market stocks aren't worth
the risk as the shares become expensive and the returns
associated with owning the more volatile assets fade, according
to Lehman Brothers Holdings Inc. strategists.

Economic growth and borrowing costs that are converging
toward levels in developed markets have eroded the prospects for
gains from shares in regions such as Asia, Eastern Europe and
Latin America, the fourth-biggest U.S. securities firm wrote in
a note to investors distributed today.


Read more at Bloomberg Stocks News

Copper Drops in London on Demand Concern; Nickel, Zinc, Aluminum Decline

(Bloomberg) -- Copper dropped for a third
consecutive session in London after stockpiles rose and Japanese
shipments of cable and wire fell, renewing concern that Asian
demand may be slowing. Nickel and zinc declined.

Inventories of copper monitored by the London Metal
Exchange rose 1,200 metric ton to 119,025 tons, the bourse said
today in a daily report, bringing this month's gain to 7.1
percent. Metal-wire and cable shipments in Japan, the world's
second-largest economy, fell 2.5 percent on year in May,
according to preliminary data from the Japanese Electric Wire
and Cable Makers' Association.


Read more at Bloomberg Commodities News

U.S. Stock-Index Futures Are Little Changed; Bear Stearns Falls in Europe

(Bloomberg) -- U.S. stock-index futures were
little changed before a private report that may show home
resales fell last month, reinforcing concern the real-
estate slump will continue.

Bear Stearns Cos. slid after CIBC World Markets Inc.
cut its price estimate for shares of the biggest broker to
hedge funds. Nvidia Corp. fell in Europe after Goldman,
Sachs & Co. lowered its recommendation for shares of the
world's second-largest producer of computer-graphics chips.


Read more at Bloomberg Stocks News

Czech Koruna Falls to 15-Month Low as Interest-Rate Views Spur Carry-Trade

(Bloomberg) -- The Czech koruna fell for a sixth day
as speculation the central bank will keep interest rates
unchanged at the lowest in the European Union this week attracted
carry-trade investors.

The Czech koruna, used by investors as a funding currency
for investments in higher-yielding assets elsewhere, slid to a
15-month low against the euro. The Czech benchmark rate is now at
2.75 percent after a quarter-point boost last month and will
probably be kept on hold at the central bank's meeting on June
28, according to a Bloomberg survey of economists.


Read more at Bloomberg Currencies News

French Stocks Retreat; France Telecom, Unibail and Suez Pace the Decline

(Bloomberg) -- French stocks declined, led by
France Telecom SA as the government sells shares in the company.

Unibail Holding SA and Suez SA also fell.


Read more at Bloomberg Stocks News

Asian Aframax Shipping Rate May Rise a Second Week on Lower Vessel Supply

(Bloomberg) -- The cost of shipping 80,000 metric
tons of oil on Asian routes may gain after rising the most in 12
weeks as increased cargo from the Middle East reduced the supply
of vessels.

The rate of shipping crude or fuel oil on so-called Aframax
tankers to Singapore from Kuwait climbed for a fourth day,
increasing 1.4 percent to Worldscale 153.65 on June 22,
according to the London-based Baltic Exchange. The rate rose 6
percent in the five days ended June 22, the second straight week
of gains.


Read more at Bloomberg Energy News

Private equity leads European cable deals- report

(Reuters) - The report singled out Cinven [CINV.UL], Carlyle Group,
Providence Equity Partners and Warburg Pincus [WP.UL] as being
particularly active.




Private equity actively invested in the cable industry in
the wake of the 2002 technology sector bubble bursting.


Read more at Reuters.com Mergers News