UPDATE 1-Nasdaq to buy Nordic bourse group OMX for $3.7 bln

(Reuters) - Nasdaq has been under pressure to get a deal done after the
London Stock Exchange's in cash for each OMX share.


Read more at Reuters.com Mergers News

Japanese Stocks Drop, Led by Exporters on Concern U.S. Rates Won't Be Cut

(Bloomberg) -- Japanese shares declined by the most
in a month. Exporters paced losses on concern the U.S. Federal
Reserve will lift borrowing costs in Japan's largest overseas
market after a report showed home sales unexpectedly climbed.

Canon Inc., the world's largest digital camera maker,
dropped 2 percent and Toyota Motor Corp., the world's No.1
automaker by market value, fell 1.5 percent.


Read more at Bloomberg Stocks News

Aruba, Frontier, Hibbett Sports, Verigy and Ditect: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Aruba Networks Inc. (ARUN US) increased 87 cents, or 5.7
percent, to $16.03 in trading yesterday after the official close
of U.S. exchanges. The maker of wireless networking equipment
said third-quarter sales were $34.7 million, up 65 percent from
a year earlier. That exceeded the $30.5 million estimate of
three analysts surveyed by Bloomberg.


Read more at Bloomberg Stocks News

Pound Headed for Weekly Gain, Ending Four-Week Losing Run, on Rate Outlook

(Bloomberg) -- The pound headed for a weekly gain
versus the dollar, snapping a four-week losing run, on views the
Bank of England will keep raising interest rates.

The U.K. currency traded near a two-week high against the
dollar yesterday as a manufacturing survey underpinned
expectations the central bank will raise borrowing costs twice
more this year. The pound may extend gains before a government
report today that's expected to confirm the economy maintained
the pace of its growth in the first quarter.


Read more at Bloomberg Currencies News

China's Wu Yi Opens Market at Own Pace, Handing Paulson Empty Concessions

(Bloomberg) -- China's agreement to further open its
financial industry to foreign firms should be seen as a logical
extension of the government's market reforms, and not as a
victory for the U.S., analysts and observers said.

Chinese negotiators led by Vice Premier Wu Yi agreed to
lift a moratorium on overseas firms buying into domestic
brokerages and triple the quota for stock purchases by foreign
institutional investors to $30 billion.


Read more at Bloomberg Emerging Markets News

Copper Prices in Shanghai Fall Most in Week as China Imports Slow in April

(Bloomberg) -- Shanghai copper prices fell the most
in a week as China's imports slowed last month from March's
record level, suggesting that the world's biggest consumer of the
metal has enough supply to meet demand.

Imports of refined copper and alloys in April fell 7.7
percent to 192,069 tons from 208,014 tons in March, according to
data issued today by the customs office. Shanghai copper prices
have fallen 14 percent this month on concern that China's rising
stockpiles of the metal, used in wires and pipes, signaled a glut.


Read more at Bloomberg Commodities News

European Government Notes Set for Third Weekly Drop Before Sentiment Index

(Bloomberg) -- European two-year government notes are
headed for a third weekly decline before a report that's expected
to show German consumer confidence rose in June.

Benchmark two-year yields held near the highest in five
years after a report yesterday showed business sentiment in
Europe's biggest economy stayed near a record in May. Futures
trading shows investors are raising bets the European Central
Bank raising rates at least twice more this year.


Read more at Bloomberg Bonds News