Asian Stocks Climb, Paced by Caltex, Mitsui; Mitsubishi Estate Declines

(Bloomberg) -- Asian stocks advanced for a third day,
led by energy-related shares, after declining U.S. fuel stockpiles
and attempted car bombings in the U.K. lifted the price of crude.

Caltex Australia Ltd., the nation's biggest oil refiner, rose
the most in two weeks. Mitsui & Co., a Japanese trading company
that generated about a sixth of last year's revenue from energy,
jumped by more than 3 percent for a second straight day.


Read more at Bloomberg Stocks News

JGBs fall before auction, little help from tankan

(Reuters) - An initial fall in Tokyo share prices also lent support to
JGBs but the gains proved fleeting, as the tankan kept intact
market expectations for the BOJ to raise interest rates to 0.75
percent from 0.50 percent, perhaps as early as next month.




"It was mixed overall. While it won't justify a rate rise in
July, the chances seem higher that there will be a rate rise in
August," said Mitsumaru Kumagai, chief JGB strategist for Merrill
Lynch.


Read more at Reuters.com Bonds News

ING buys back 5.55 pct of own shares from Fortis

(Reuters) - The share purchase, representing about 5.55 percent of ING's
share capital, is unrelated to ING's ongoing share buyback
programme.




Read more at Reuters.com Mergers News

Gold steady as security, inflation fears support

(Reuters) - Gold was steady on Monday, with support coming from renewed security and inflation worries, while yen-based gold inched up to its highest since last Tuesday.

Spot gold stood at $649.50/651.00 an ounce at 0311 GMT, versus $648.70/$650.20 in late New York.


Read more at Reuters Africa

Bear Stearns to add up fund losses by July 16: report

(Reuters) - Investors are keen to see how far the assets have fallen,
since they believe other hedge funds are also holding
mortgage-related securities, the report added.




A Bear Stearns spokeswoman was not immediately available for
comment.


Read more at Reuters.com Bonds News

U.K. Pound May Hold Above $2 Before House Price Data, BOE's Rate Decision

(Bloomberg) -- The pound may hold above $2 ahead of
the Bank of England's interest-rate decision and before data that
will probably show four increases in borrowing costs since August
haven't crimped house-price growth.

Policy makers will decide on interest rates July 5, and
economists surveyed by Bloomberg News expect them to lift the
benchmark rate a quarter-point to 5.75 percent. The U.K.'s
biggest mortgage lender HBOS Plc will say this week say house-
price growth quickened in the three months through June,
according to economists in a Bloomberg News survey.


Read more at Bloomberg Currencies News

Yen stays weak, tankan bolsters BOJ rate view

(Reuters) - The yen fell against the dollar and euro after the BOJ's quarterly tankan poll came in line with forecasts, but trimmed losses as investors were careful about selling the yen too much ahead of a holiday-shortened week in the United States.




Sterling hit a 2 1/2-month high versus the dollar at $2.01, inching near a 26-year high before the Bank of England holds a policy meeting later in the week, when it is expected to lift rates by 25 basis points to 5.75 percent.


Read more at Reuters.com Hot Stocks News

Japan's Shares Rise, Led by Mitsui, Trading Houses, on Oil, Rating Call

(Bloomberg) -- Japanese stocks advanced, led by
trading companies such as Mitsui & Co., after the price of oil
climbed to a 10-month high and a brokerage gave the company its
most bullish recommendation.

Oil advanced 1.6 percent to close above $70 a barrel last
week. Mitsubishi UFJ Securities Co. initiated coverage of Mitsui
with a ``strong outperform'' rating.


Read more at Bloomberg Stocks News

Bear Stearns Dismembers U.S. Treasury Bear Market; Demand Seen Rising

(Bloomberg) -- Treasury investors can thank Bear
Stearns Cos. for smothering the bear market.

Traders who cut their holdings of U.S. government debt just
a few weeks ago as retail sales increased and job growth
accelerated are now snapping up Treasuries. Demand is being
fueled by speculation that losses at hedge funds owning subprime
mortgage bonds such as those managed by New York-based Bear
Stearns and London-based Cambridge Place Investment Management
LLP will spread and slow the economy.


Read more at Bloomberg Bonds News

Japan Tobacco to Sell Bonds to Repay Debt for Its Purchase of Gallaher

(Bloomberg) -- Japan Tobacco Inc., the world's
third-biggest cigarette maker, said it plans to sell about 150
billion yen ($1.2 billion) of bonds to repay debt for the
purchase of Gallaher Group Plc.

The Tokyo-based company hired Daiwa Securities SMBC Co. and
Nomura Holdings Inc. to handle the sale, said Yukiko Seto, a
Tokyo-based spokeswoman for Japan Tobacco. The company is aiming
to price the bonds this month, she said.


Read more at Bloomberg Bonds News

Trichet 'Vigilance' Vow Gives Way to Less Visilibility, More Volatility

(Bloomberg) -- In the annals of central-banker
buzzwords, ``strong vigilance'' is probably about to go the way
of ``measured pace.''

Investors and economists who've grown used to European
Central Bank President Jean-Claude Trichet's vow to be on
constant lookout for signs of faster inflation are likely to
find the term disappearing from his pronouncements.


Read more at Bloomberg Bonds News

Australian Bank Stocks Drop, Led by St.George; Woodside, Oil Shares Gain

(Bloomberg) -- Australian banking stocks fell, led by
St.George Bank Ltd. and National Australia Bank Ltd. after their
U.S. peers dropped on concerns losses on mortgages will deepen.

Energy shares rose, led by Caltex Australia Ltd. and Woodside
Petroleum Ltd. after oil traded near a 10 month high following
attempted car bombings in the U.K.


Read more at Bloomberg Stocks News

Newcastle Coal Price Jumps to Record as Exports Still Disrupted by Weather

(Bloomberg) -- The price for power-station coal at
Australia's Newcastle, the world's largest export harbor for the
fuel, rose to a record after storms disrupted shipments.

The price of thermal coal for immediate delivery from the
port in New South Wales state rose $4.58 a metric ton to $70.88
in the week ended June 29 from a week earlier, according to the
globalCOAL NEWC Index. About 2.5 million metric tons of coal
export capacity was lost as a result of eastern Australia's worst
storm in 30 years, said the Hunter Valley Coal Chain Logistics
Team, coordinator of rail and port movements for Newcastle.


Read more at Bloomberg Energy News

Aegon, Deutsche Telekom, Hannover Re, TeliaSonera: 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 climbed 0.5 percent to 393.71. The
Dow Jones Stoxx 50 Index increased 0.6 percent to 3946.98. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, advanced 0.7 percent to 4489.77.


Read more at Bloomberg Stocks News

TREASURIES-Slip slightly in Asia before factory data

(Reuters) - September 10-year futures were flat at 105-22.5/32,
near a three-week high of 105-25.5/32 -- a level hit twice last
week that has become chart resistance for the contract.




Benchmark 10-year notes slipped 2/32 in price to
yield 5.037 percent, up a basis point from late trade in New York
on Friday and holding above the 5.0 percent line. Two-year notes
were flat to yield 4.871 percent.


Read more at Reuters.com Bonds News

Virgin Media, Debenhams, Liberty, C&C Group: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in U.K. and Irish markets today. Stock symbols are in parentheses
and prices are from the market close on June 29.

The benchmark FTSE 100 Index rose 36.60, or 0.6 percent, to
close at 6607.90 in London as 66 stocks rose, 34 fell and two
were unchanged. The FTSE All-Share Index gained 15.98, or 0.5
percent, to 3404.14.


Read more at Bloomberg Stocks News

Universal Music declines long-term iTunes deal: source

(Reuters) - The music company could now agree to offer significant portions of its repertoire exclusively to new partners, potentially weakening Apple's dominant hold on digital music retail.




The two sides had extended a previous two-year agreement by 12 months last summer, and that deal expired last month, the source said.


Read more at Reuters.com Business News

Saudi Aramco Cuts July Propane, Butane Prices by as Much as 2.9 Percent

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, cut prices of liquefied petroleum gas for
loading in July by as much as 2.9 percent from a month ago, a
company official said.

The company lowered propane prices to $575 a metric ton
from $592 a ton in June and reduced butane prices to $595 a ton
from $612 a ton, according to the official who asked not to be
identified because of company policy.


Read more at Bloomberg Energy News

Western Mining Seeks an $815 Million Initial Public Offering in Shanghai

(Bloomberg) -- China's Western Mining Co., a
producer of zinc, nickel and copper, is seeking as much as 6.2
billion yuan ($815 million) in a Shanghai initial public
offering to expand production and buy stakes in other mines.

The company will sell as many as 460 million new shares at
12 yuan to 13.48 yuan each, Xining, Qinghai-based Western Mining
said today in a filing to the Shanghai Stock Exchange. UBS AG,
Europe's biggest bank by assets, is arranging the sale, its
first in China.


Read more at Bloomberg Emerging Markets News

Vietnamese Firms May Seek Record $3 Billion in Loans, Credit Suisse Says

(Bloomberg) -- Vietnam Shipbuilding Industry Group,
Vietnam National Shipping Lines and other companies from
Southeast Asia's fastest-growing economy may borrow a record $3
billion in the next 12 months, according to Credit Suisse Group.

Vietnamese companies will raise as much as $3 billion from
loans and bond sales, said Amit Khattar, director of loan
syndication in Asia at Credit Suisse. Companies raised $99.2
million of dollar-denominated debt in 2006, according to data
compiled by Bloomberg.


Read more at Bloomberg Bonds News

Japanese Trading House Shares Rise After Crude Oil Gains, on Rating Call

(Bloomberg) -- Japanese trading company shares
advanced, led by Mitsui & Co. after the price of oil climbed to
a 10-month high and a brokerage gave the company its most
bullish recommendation.

The price of oil advanced 1.6 percent to close above $70 a
barrel last week. Mitsubishi UFJ Securities Co. initiated
coverage of Mitsui with a ``strong outperform'' rating.


Read more at Bloomberg Stocks News

UPDATE 1-SK Telecom, EarthLink to put $100 mln each in JV

(Reuters) - SK has been in talks with EarthLink to put up more funds for
the venture, set up in 2005 and launched in 2006.




"Our initial investment in the venture has been spent, and we
will need to inject more money during the second half," said Kim
Hye-jin, a spokeswoman at SK Telecom.


Read more at Reuters.com Mergers News

South Korean Won Advances as Export Growth Quickens; Bonds Little Changed

(Bloomberg) -- South Korea's won rose to the highest
since May 8 on speculation growth in Asia's third-largest
economy will accelerate, helped by rising exports. Government
bonds were little changed.

The won gained for a third day as a government report today
showed exports, which account for about 40 percent of the
economy, grew faster than expected in June. The currency touched
the highest in almost 10 years against the yen on June 22 and is
trading within 0.2 percent of that level today.


Read more at Bloomberg Bonds News

UPDATE 1-Danone LU arm to meet staff amid sale talk-source

(Reuters) - "I have been called to a meeting on Tuesday morning at 0930
," the source, who declined to be named, said on
Sunday.




The source added that LU management had informed trade
unions that the meeting would be to discuss "changes within the
biscuit division."


Read more at Reuters.com Mergers News

UBS Raises West Texas, Brent Crude Oil Forecasts on Higher Refinery Demand

(Bloomberg) -- UBS AG raised its 2007 forecast for
crude oil traded in New York to $65 a barrel, from $61, as
stronger demand from refiners lowers inventories.

The bank boosted its forecast for Brent crude oil to $67 a
barrel for 2007, from $60, UBS said in a report today.


Read more at Bloomberg Energy News

Treasuries Fall as U.K., U.S. Increase Security After Failed Bomb Attacks

(Bloomberg) -- Treasuries fell as the U.S. and the
U.K. tightened security following two attempted car bombings in
London and an attack on Glasgow airport, reducing demand for the
relative safety of government debt.

Ten-year yields fell to a three-week low last week when the
threats cut the attraction of riskier securities. U.K. police
arrested five people and searched houses, while adding officers
to patrols in crowded areas. The U.S. increased the number of
air marshals on overseas flights.


Read more at Bloomberg Bonds News

Australian Oil Stocks Gain, Led by Woodside; Banks Drop on U.S. Concerns

(Bloomberg) -- Australian oil stocks rose, led by
Caltex Australia Ltd. and Woodside Petroleum Ltd. after oil traded
near its highest in 10 months.

Banking shares fell, led by St George Bank Ltd. and National
Australia Bank Ltd. after their U.S. peers dropped on concerns
losses on mortgages will deepen as the housing market weakens.


Read more at Bloomberg Stocks News

Coles, Wesfarmers in talks on takeover bid

(Reuters) - The two companies did not give details in separate statements to the Australian Stock Exchange.




The Australian Financial Review said on Monday that Wesfarmers was close to winning Coles with a sweetened offer in what would be the largest takeover in Australian corporate history.


Read more at Reuters.com Business News

Japan's 10-Year Bonds May Rise After Treasuries Gain on Slower Inflation

(Bloomberg) -- Japanese government bonds may rise
for a second day after U.S. Treasuries gained on signs of
slowing inflation in the world's largest economy

Ten-year bonds in Japan last week completed the first back-
to-back weekly advance since March after a government report
showed consumer prices in Tokyo unexpectedly dropped. The Bank
of Japan's Tankan index of confidence among large manufactures
was unchanged at 23 points in June from March.


Read more at Bloomberg Bonds News

Japan's Real Estate Shares Drop on Report Banks Will Raise Mortgage Rates

(Bloomberg) -- Japanese property stocks fell, led by
Mitsubishi Estate Co., after the Nikkei newspaper reported the
country's four largest lenders will raise interest rates on 10-
year fixed-rate mortgages from today. Higher mortgage rates may
damp demand among consumers for buying property.

Lenders such as Mizuho Financial Group Inc. climbed.


Read more at Bloomberg Stocks News

Australian Stocks Advance, Led by BHP Billiton on Higher Crude Oil Prices

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.15 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 9.10 to 6,284.00. Among the stocks in the index, 90
rose, 93 fell and 18 were unchanged.


Read more at Bloomberg Stocks News

Exporters, Korea Gas Corp., LG.Philips LCD: South Korea's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the June 29 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index declined 0.5 percent to 1743.60. The Kosdaq
was little changed at 778.69. Kospi 200 futures expiring in
September slipped 0.9 percent to 221.80, while the underlying
index lost 0.6 percent to 221.31.


Read more at Bloomberg Stocks News

China May Raise Fuel Price If Crude Stays at $70, Says Energy Researcher

(Bloomberg) -- China's government may increase fuel
costs if the global crude price stays as high as $70 a barrel,
said an energy research fellow with the nation's top economic
planner.

``Otherwise refiners will suffer more losses,'' Jiang
Xinmin, an expert with the Energy Research Institute of the
National Development and Reform Commission, told reporters at
the sidelines of an oil conference in Shanghai June 30, without
elaborating.


Read more at Bloomberg Energy News

Yen Trades Near Record Low Versus Euro Before Bank of Japan Tankan Survey

(Bloomberg) -- The yen traded near a record low
versus the euro before a Bank of Japan quarterly Tankan survey,
which may show confidence among Japan's largest manufacturers
stayed close to a two-year high.

The yen declined to a record low against the euro and a 4
1/2-year low versus the dollar last month as reports showed
industrial production fell for a third month and consumer prices
unexpectedly dropped in May. Japan's key interest rate of 0.5
percent is the least of any major economy.


Read more at Bloomberg Currencies News

Japanese Government Bonds May Rise on View Tankan Won't Back Higher Rates

(Bloomberg) -- Japanese government bonds may rise
for a second day on speculation the central bank's Tankan survey
will fail to increase the likelihood for higher interest rates.

Ten-year bonds last week completed their first back-to-back
weekly gain since March after a government report showed
consumer prices in Tokyo unexpectedly dropped. U.S. Treasuries
rose on June 29, pushing 10-year yields to a three-week low,
after an inflation gauge watched by the Federal Reserve slowed.


Read more at Bloomberg Bonds News

Japan Stocks May Rise Should Tankan Show Higher Confidence; Banks May Gain

(Bloomberg) -- Japanese stocks may advance, led by
machinery makers such as Komatsu Ltd., should the Bank of Japan's
quarterly survey of business sentiment show improved confidence
and rising capital spending.

The Tankan survey will show a measure of the outlook among
large manufacturers probably rose to 22 in the latest quarter,
from 20 in the first three months of 2007, economists said.
Companies likely plan to boost capital spending by 9 percent in
the coming year, up from 2.9 percent in the previous survey. The
Tankan will be released by the central bank 10 minutes before the
start of trading today.


Read more at Bloomberg Stocks News

Japanese Yen, Korean Won, Indian Rupee, Thai Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the June 29 session.


Read more at Bloomberg Currencies News

Crude Oil Trades Near 10-Month High on U.S. Fuel, U.K. Terrorism Concerns

(Bloomberg) -- Crude oil was little changed near a
10-month high in New York after rising last week on declining U.S.
fuel stockpiles and attempted car bombings in the U.K.

Gasoline futures reached a one-week high on June 29, after
rising for three days on a report showing U.S. supplies of the
motor fuel unexpectedly fell the week before. U.K. security
agencies raised the country's terrorist threat assessment to its
highest level at the weekend after an attack at Glasgow
International Airport and two attempted bombings in London.


Read more at Bloomberg Energy News

UPDATE 1-Virgin Media seeks buyer, Carlyle bids -sources

(Reuters) - LONDON, July 1 - British cable operator Virgin
Media has appointed Goldman Sachs to seek a possible
buyer after it received approaches from various private equity
firms, people familiar with the situation said on Sunday.




Carlyle Group [CYL.UL], for one, offered in recent weeks to
buy the company, whose leading shareholder is the flamboyant
entrepreneur Richard Branson, the sources said, but they declined
to disclose the price put forward.


Read more at Reuters.com Bonds News

U.S. senator wants 'czar' to ensure import safety

(Reuters) - Sen. Charles Schumer, a New York Democrat who is also
helping to spearhead a legislative drive to press China on
currency reforms, called for a new oversight post within the
Commerce Department to oversee all matters pertaining to the
safety of imported goods.




A statement issued by Schumer's office said federal
agencies including the Food and Drug Administration have proven
ineffective at protecting American consumers from dangerous
Chinese products including pet food and toothpaste tainted with
industrial chemicals.


Read more at Reuters.com Bonds News

Total Began Production From Rosa Deepwater Oil Field Off Angola on June 18

(Bloomberg) -- Total SA, Europe's third-largest oil
company, said production started June 18 at its Rosa deep-water
oil field off the coast of Angola.

The Rosa field, which has proven and probable reserves of
370 million barrels, will keep production of the Girassol
platform at 250,000 barrels a day ``until early in the next
decade,'' Paris-based Total said today in an e-mailed statement.


Read more at Bloomberg Energy News

DTE Energy, GE unit in deal on power projects

(Reuters) - As part of the deal, DTE Energy will manage the day-to-day operations of the projects and act as the managing member of the LLC that owns them.




Morgan Stanley advised DTE Energy.


Read more at Reuters.com Business News

UPDATE 1-Colombia inflation dips to 0.12 pct in June-govt

(Reuters) - But for the first six months of this year, inflation was at
4.55 percent, just above the government's target range for the
full year of between 3.5 percent to 4.5 percent, the government's
National Department of Statistics said in a statement.




Annual inflation for the last 12 months was 6.03 percent
versus 3.94 percent in the same period a year earlier.


Read more at Reuters.com Bonds News

Gold May Rebound as Oil Gain Spurs Demand for Inflation Hedge, Survey Says

(Bloomberg) -- Gold may rebound, halting a two-week
slide, on speculation that rising oil costs will boost demand
for the precious metal as an inflation hedge.

Fourteen of the 32 traders, investors and analysts surveyed
by Bloomberg from Sydney to Chicago on June 28 and June 29
advised buying gold, which fell 0.9 percent last week to $650.90
an ounce on the Comex division of the New York Mercantile
Exchange. Nine said to sell, and nine were neutral.


Read more at Bloomberg Commodities News

JFK airport terminal closed briefly, suspicious package

(Reuters) - No information was available on what was inside the package. The airline said flights were not delayed.




U.S. airports have been on heightened security at the weekend after the explosion of a fuel-filled jeep on Saturday at Scotland's busiest airport that police said was a terrorist attack linked to failed car bombings in London.


Read more at Reuters.com Bonds News

RPT-Wall St Wk Ahead: Jobs, subprime mess to rule July 4 week

(Reuters) - NEW YORK, July 1 - Investors are hoping this week
brings some answers to the question of whether an improving
U.S. economy unleashes inflationary forces, and one place to
look will be in the June payrolls data.




At the same time, the potential for defaults in subprime
loans to spill over to the general economy remains a concern.
Nervousness that tighter credit may affect the availability of
financing for buyouts prompted investors to sell banks' and
brokers' shares on Friday, which helped cut short a morning
rally.


Read more at Reuters.com Bonds News

UK's Fraud Office to question BAE executives-paper

(Reuters) - The investigation was looking at BAE's dealings in Romania,
the Czech Republic, Tanzania and South Africa, it said.




Britain's former prime minister Tony Blair halted a probe of
a BAE deal with Saudia Arabia by the UK's SFO last December,
saying the investigation jeopardised national security and
relations with the Gulf kingdom.


Read more at Reuters.com Government Filings News

Kuwait's KIA says to keep Daimler stake unchanged

(Reuters) - "We are maintaining the stake. We're quite happy with it.
After the problems in the past things have been turning around,
looks like it is in a good form now," KIA's Executive Director
Saleh al-Sagoubi told reporters.




DaimlerChrysler announced in May it would sell an
80.1-percent stake in Chrysler Group to private equity firm
Cerberus Capital Management [CBS.UL], unwinding the 1998 merger
of Daimler-Benz and Chrysler that never worked out as planned.


Read more at Reuters.com Bonds News

Zimbabwe deploys prices crack unit, arrests Mugabe man

(Reuters) - The Zimbabwe government has deployed a crack security unit in a desperate fight against hyperinflation, and arrested more than 20 business executives, including a ruling party senator, for breaching price controls.

President Robert Mugabe -- facing the highest inflation rate in the world and simmering political tension -- last week ordered consumer prices slashed by half after the cost of some goods rose by up to 300 percent within a week, reflecting a deepening economic crisis many blame on his policies.


Read more at Reuters Africa