BNP, Commerzbank, Delhaize, Dexia, Enel, Hochtief: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 dropped 0.8 percent to 389.79. The Dow Jones Stoxx 50 Index fell 0.6 percent to 3880.80. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, dropped 0.7 percent to 4411.32.


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JGBs fall ahead of Fukui, Fed meeting eyed

(Reuters) - The yield on two-year notes hit a 10-month high earlier in the session as investors bet that shorter maturities will underperform longer-dated bonds on expectations that the BOJ will further boost interest rates.

Investors believe that better-than-expected growth data for the January-March quarter due on May 17 could lead to a rate rise in the July-September quarter.


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U.K. April Consumer Confidence Rose to Six-Month High, Nationwide Reports

(Bloomberg) -- U.K. consumer confidence rose to a six- month high in April after higher interest rates failed to dent households' spending plans, the Nationwide Building Society said.

An index of sentiment advanced to 90 from 88 in March, according to a report from Britain's third-biggest mortgage lender today. Economists expected a reading of 89, the median of five forecasts in a Bloomberg News survey showed. A gauge of spending intentions jumped to 89 in April from 83 in the previous month.


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CORRECTED: Dollar drifts sideways before Fed decision

(Reuters) - The Fed is widely expected to keep rates on hold at 5.25 percent, and many analysts believe the central bank will emphasise in its post-meeting statement that worries about inflation pressures outweigh the economy's housing-led slowdown.

Weaker growth in the United States has stirred expectations that the Fed's next move will be to cut rates even as robust conditions elsewhere in the world have kept other major central banks on track to raise rates, luring funds to those currencies.


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Australian Shares Rise, Led by Rio Tinto; Woolworths Advances on Budget

(Bloomberg) -- Australian shares gained, led by Rio Tinto Group. Woolworths Ltd. paced a gain in retail-related shares after the government's budget announced late yesterday included tax cuts and spending that will pump more than A$67 billion ($55 billion) into the economy.

The S&P/ASX 200 Index gained 37.40, or 0.6 percent, to 6341.60 at 12:40 p.m. in Sydney.


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Japanese Steelmaker Stocks Advance on Industry Consolidation; Toyota Drops

(Bloomberg) -- Japanese steelmaker shares advanced after a report Arcelor Mittal may acquire AK Steel Corp., the No. 3 U.S. maker of the alloy, prompting speculation reorganization will extend to the domestic industry.

Nippon Steel Corp. climbed 0.9 percent, a fifth day of gains. Sumitomo Metal Industries Ltd. jumped 2.2 percent, its fourth straight advance.


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Nikkei nearly flat on profit-taking

(Reuters) - The United States is one of the biggest markets for Japanese goods.

"Gains are capped by profit-taking in tech shares, while losses are limited by banks and defensive stocks such as drugs," he said.


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