Japan's Shares Climb, Led by Nintendo, on Higher U.S. Spending, Weaker Yen

(Bloomberg) -- Japanese stocks rose after U.S.
retail sales jumped by the most in more than a year. Exporters
including Nintendo Co. led gains on speculation higher consumer
spending and lower borrowing costs in Japan's largest overseas
market will lift profits.

Exporters such as Toyota Motor Corp. also got a boost after
the yen weakened to the lowest against the dollar since 2002,
and the Federal Reserve said in its Beige Book survey the U.S.
economy is growing without stoking inflation.


Read more at Bloomberg Stocks News

BNP Paribas, Gemalto, Group Eurotunnel, Bongrain: French Equity Preview

(Bloomberg) -- Shares of the following companies
may rise or fall on the Paris stock exchange. Stock symbols are
in parentheses and prices are from the last close.

The CAC 40 Index jumped 36.11, or 0.6 percent, to 5934.27.
The SBF 120 Index also added 0.6 percent.


Read more at Bloomberg Stocks News

European Stocks May Rise; Daimler, BHP Billiton, Rio Tinto May Advance

(Bloomberg) -- European stocks may advance for a
second day, led by exporters and mining companies, after the
Federal Reserve said the world's largest economy is growing without
spurring inflation and copper prices gained in Asia.

DaimlerChysler AG and Barclays Plc will probably advance after
their U.S.-traded securities ended higher than the close in Europe.
BHP Billiton Ltd., the world's biggest mining company, and Rio Tinto
Group gained in Australia. GlaxoSmithKline Plc, the world's second-
largest drugmaker, may be active after a report about increasing
shareholder pressure to sell the consumer healthcare division.


Read more at Bloomberg Stocks News

Gerdau Ameristeel and Transcontinental: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed.
Symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index gained 135.19, or
1 percent, to 13,859.52 in Toronto.


Read more at Bloomberg Stocks News

Bare Escentuals, Casey's General, Focus Media, L-3: 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.

Bare Escentuals Inc. (BARE US): The cosmetics company
raised $292 million in a stock offering. Its shares fell 98
cents, or 2.6 percent, to $37.18 in regular trading yesterday.


Read more at Bloomberg Stocks News

Sprint seeks funding for wireless network: WSJ

(Reuters) - A Sprint spokesman did not immediately return a call seeking comment.




Sprint has committed to spending about $3 billion through next year to build the high-speed wireless network, called WiMax, but some shareholders -- including Ralph Whitworth's Relational Investors -- have questioned the strategy.


Read more at Reuters.com Business News

Detroit carmakers to seek big union concessions: report

(Reuters) - None of the three automakers or the UAW was immediately available for comment.




One industry executive told the Journal the three companies are resolved to move jobs overseas if they cannot reduce their U.S. labor costs.


Read more at Reuters.com Business News

Australian Dollar Retreats Against Yen After RBA Governor Stevens' Speech

(Bloomberg) -- Australia's dollar declined from the
strongest in 15 years against the yen after Reserve Bank of
Australia Governor Glenn Stevens said he has ``time'' to respond
to faster economic growth and inflation.

The currency retreated as traders pared bets the central
bank will increase the benchmark interest rate by November. The
cost of borrowing last week was left at 6.25 percent for a sixth
meeting. The Australian dollar initially rose against the yen as
a surge in U.S. stocks encouraged traders to buy higher-yielding
assets with money borrowed in Japan.


Read more at Bloomberg Currencies News

New Zealand Dollar Gains on Speculation Yield Premium May Widen Over U.S.

(Bloomberg) -- New Zealand's dollar rose against the
U.S. currency as gains in U.S. stocks gave investors confidence
to buy higher-yielding assets with money borrowed in countries
with lower interest rates, such as Japan.

The local dollar, known as the kiwi, has risen 7 percent
this year as investors put on so-called carry trades, lured by
the second-highest interest rates among AAA-rated countries. The
appeal of holding New Zealand dollar-denominated securities was
boosted after the yield on 10-year U.S. Treasuries yesterday fell
from a five-year high.


Read more at Bloomberg Currencies News

Pound May Extend Drop Versus Dollar on Speculation of Lower Sales Growth

(Bloomberg) -- The pound may drop for a second day
versus the dollar on speculation a report showing retail sales
growth slowed last month will reinforce speculation the Bank of
England won't need to raise interest rates further.

Sales expansion in Europe's second largest economy probably
slowed to an annual 3.8 percent from 4.2 percent in April,
according to economists in a Bloomberg News survey. The U.K.
currency may also be hurt after an industry survey showed house
prices rose at the weakest pace in a year in May.


Read more at Bloomberg Currencies News

U.K. House Prices Increase at Their Slowest Pace For a Year, RICS Reports

(Bloomberg) -- U.K. house prices rose at the slowest
pace in a year in May, a sign higher interest rates may be
starting to cool Britain's property boom, the Royal Institution of
Chartered Surveyors said.

The number of real-estate agents and surveyors reporting
higher home values in England and Wales outnumbered those showing
declines by 23.9 percentage points in the quarter through May, the
least since April 2006, the organization said. In London, the
balance fell to a three-month low.


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Speculators Buy Options Giving the Right to Sell Yen at 127 to U.S. Dollar

(Bloomberg) -- Speculators bought at least $1
billion of options giving them the right to sell the yen at 127
to the dollar in six months, in a sign the world's worst-
performing currency this quarter may extend losses.

The put options grant the right to sell the currency at a
designated strike price. They traded with an implied volatility
of 6.38 percent, said Takeharu Miki, a currency options trading
manager at Bank of Tokyo-Mitsubishi UFJ Ltd. Implied volatility,
a measure of expectations for future currency swings, is quoted
as part of pricing options.


Read more at Bloomberg Currencies News

Yen Trades at Lowest Since December 2002 Against Dollar on Yield Spread

(Bloomberg) -- The yen traded at the weakest against
the dollar since December 2002 as investors were enticed by the
yield advantage on U.S. Treasuries over Japanese debt.

The Bank of Japan will probably keep its overnight lending
rate at the lowest among major economies at a two-day meeting
beginning today, encouraging investors to send money overseas in
so-called carry trades. The yen has dropped 2.9 percent this year
as traders reduced bets on Federal Reserve rate cuts, causing the
U.S. 10-year yield spread with Japan to widen to a four-year high.


Read more at Bloomberg Currencies News