Stocks cap week of gains on jobs data, oil

(Reuters) - Technology and industrial stocks were among the best performers after the Labor Department's monthly report on job creation topped expectations. Shares of heavy equipment maker Caterpillar Inc. and IBM helped lead the Dow higher.




Shares of major oil companies rose as New York oil prices hit 10-month highs. The energy sector was the biggest advancer out of all 10 S&P 500 sectors, with the S&P Energy index up 1 percent.


Read more at Reuters.com Hot Stocks News

Cogeco Cable posts qtrly profit rise, ups outlook

(Reuters) - Revenue rose 56 percent to C$240.6 million.




The company said it expects revenue of C$940 million in
2007, net income of C$68 million and operating income before
amortization of C$368 million. That compares with a forecast in
January for operating income before amortization of C$355
million.


Read more at Reuters.com Market News

DEALTALK-KKR aims to take role of banks with IPO

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL]
said in its IPO prospectus earlier this week that the $1.25
billion offering will allow the firm to expand its ability to
syndicate equity and reduce reliance on third-party sources of
capital.




Syndicating leveraged buyout equity is normally the role of
investment banks. Does KKR wish to cut banks entirely out of
the LBO process? The answer is no, sources close to the firm
say, since the firm will still rely on banks to handle the debt
borrowed for the deals.


Read more at Reuters.com Bonds News

Japan's 10-Year Bonds Have Biggest Weekly Drop in Month Amid Global Growth

(Bloomberg) -- Japanese bonds had the biggest
weekly drop in a month on speculation signs of accelerating
global growth will support the central bank's case for
increasing interest rates.

Ten-year bonds fell yesterday, pushing yields to a
three-week high, after U.S. Treasuries had the biggest loss
in three weeks on July 5. Private U.S. reports this week
showed job creation was faster than expected and growth in
service industries accelerated, signaling the world's
largest economy is gaining momentum.


Read more at Bloomberg Bonds News

Qantas increases order for 787 by 20 planes

(Reuters) - The 787, a mid-sized aircraft made predominately of
carbon-composite materials, is Boeing's first all-new
commercial airliner in more than a decade.




Read more at Reuters.com Bonds News

UPDATE 1-Rosetta Resources to fight Calpine lawsuit

(Reuters) - Calpine filed suit on June 29 in the same court where it
filed for bankruptcy - the U.S. Bankruptcy Court for the
Southern District of New York - accusing Houston-based Rosetta
of cheating when it bought Calpine's oil and gas assets.




Rosetta, a former unit of Calpine, acquired the assets in
July 2005 for $1.05 billion before Calpine declared bankruptcy
in December 2005.


Read more at Reuters.com Bonds News

UPDATE 2-Prudential to keep Wachovia joint venture for now

(Reuters) - Wachovia said in May that it would buy regional broker A.G.
Edwards Inc. for $6.8 billion, creating the
second-largest U.S. retail broker. The move required
Prudential, which now owns a 38 percent stake in the venture,
to make a decision.




Newark, New Jersey-based Prudential said it would exercise
its "lookback" option, which allows it to delay a decision for
up to two years following the combination. It can then add
additional capital, sell its stake back to Wachovia or accept a
reduced stake in the venture.


Read more at Reuters.com Mergers News

Argentina stocks up, bonds slip amid select trade

(Reuters) - The MerVal index of 21 leading stocks gained 0.08
percent to close at 2,249.01 points. In the session's first
hour of trade, it reached a record intraday high of 2,263.27
points after rising 0.72 percent.




"The selectivity was total," said Mariano Tavelli, trader
with Tavelli and Company brokerage. "The market's weakness is
related to bank stocks, which have been hurt by lower bond
prices, and industrial stocks, hit by the energy crisis."


Read more at Reuters.com Bonds News

Hotel buyouts a bonanza for many mutual funds

(Reuters) - Private-equity firm Blackstone Group's $20 billion bid for Hilton Hotels Corp. on Tuesday sparked a 27 percent rise in shares of the second-biggest U.S. hotel chain over Thursday and Friday, and boosted those of Hilton's rivals.




But for funds that bought Hilton at its lows in 2001 and still own them, the gains are nearly 500 percent.


Read more at Reuters.com Mergers News

Rosetta Resources to fight Calpine lawsuit

(Reuters) - Rosetta acquired the assets in July 2005 for $1.05 billion
before Calpine declared bankruptcy in December 2005.




Read more at Reuters.com Bonds News

UPDATE 1-Beauty retailer Ulta files for $115 million IPO

(Reuters) - The beauty retailer said in a registration statement with
the U.S. Securities and Exchange Commission that JPMorgan,
Wachovia Securities, Thomas Weisel Partners LLC, Cowen and Co.,
and Piper Jaffray are underwriting the IPO.




Ulta said it is applying to list its stock on the Nasdaq
under the symbol "ULTA" .


Read more at Reuters.com Government Filings News

Wonder Auto files for 6.5 million share offering

(Reuters) - It also plans to list its stock on the Nasdaq under the
symbol "WATG" . It currently trades on the
over-the-counter bulletin board.




Read more at Reuters.com Government Filings News

UPDATE 1-S&P revises Guatemala outlook to positive from stable

(Reuters) - S&P also said Guatemala's cautious fiscal policies,
improving transparency in public institutions and a steady flow
of worker remittances support the country's ratings.




Guatemala's presidential elections are led by center-left
candidate Alvaro Colom, a well-known economist who came in
second in the 2003 election. Retired Gen. Otto Perez Molina,
from the right-wind Patriotic Party, comes in a distant second
place, according to a recent opinion poll.


Read more at Reuters.com Bonds News

U.S. FERC approves $18 mln BP-California settlement

(Reuters) - The payment will be made to the California Department of
Water Resources, which backed power purchases when wholesale
power prices skyrocketed and rolling blackouts were common
during the energy crisis.




The state's largest utility, Pacific Gas & Electric Co.,
went bankrupt during the crisis. It has since emerged from
bankruptcy.


Read more at Reuters.com Bonds News

Cattle Gain Most in Nearly Four Months on Asian Beef Demand; Hogs Decline

(Bloomberg) -- Cattle futures rose the most in almost
four months as a weekly export sales report indicated strong
demand for U.S. beef. Hog prices fell.

U.S. exporters reported net sales of 11,300 metric tons of
beef for the week ended June 28, including 1,300 tons for Japan
and South Korea, according to the U.S. Department of Agriculture.
Exports to those two nations, largely closed to U.S. beef since
December 2003 over mad-cow disease concerns, indicate longer-term
demand, said Troy Vetterkind, a trader at e-Hedger in Chicago.


Read more at Bloomberg Commodities News

Idaho regulators approve Avista power measure

(Reuters) - Conditions include changes in hydropower generation due to
reduced river flows or unexpected changes in fuel costs or
wholesale market prices for energy.




The cost adjustment measure is similar to one in place for
Idaho Power Co. customers since 1993. Idaho Power is a unit of
Idacorp .


Read more at Reuters.com Government Filings News

TREASURIES-Bonds slide as robust jobs data hits rate cut hopes

(Reuters) - NEW YORK, July 6 - U.S. Treasury debt prices fell
on Friday, pushing yields to two-week highs, after strong jobs
data dashed some of the remaining expectations that the Federal
Reserve would cut interest rates this year.




Unexpectedly robust job growth in June and upward revisions
to figures for April and May added to recent downward pressure
on bonds. Based on the rise in benchmark yields, the market was
on track for its biggest week of losses in just over a year.


Read more at Reuters.com Bonds News

U.S. Stocks Advance on Takeovers; CBOT Holdings, Exxon Mobil Shares Rise

(Bloomberg) -- U.S. stocks climbed and the Standard
& Poor's 500 Index posted its biggest weekly advance since
April, helped by takeovers and improved earnings prospects for
energy companies.

CBOT Holdings Inc., owner of the third-largest futures
exchange, climbed to a record after the Chicago Mercantile
Exchange raised its acquisition offer. Exxon Mobil Corp., the
world's biggest oil company, led energy producers to a peak
after crude oil jumped to a 10-month high.


Read more at Bloomberg Stocks News

UPDATE 1-US' Paulson aims to foster Latam investment

(Reuters) - WASHINGTON, July 6 - U.S. Treasury Secretary
Henry Paulson on Friday announced a proposal to boost spending
on needed infrastructure in Latin America and the Caribbean in
a bid to promote faster economic development in the region.




Essentially, the United States will enter a partnership
with the International Finance Corporation, the private sector
arm of the World Bank, to create a program to foster private
investment in expanding electricity, transport, water and other
projects that support development.


Read more at Reuters.com Bonds News

Wheat Rises After Analyst Predicts Smaller-Than-Expected U.S. Winter Crop

(Bloomberg) -- Wheat futures rose in Chicago and
Kansas City after an analyst predicted the U.S. winter-wheat crop
would be smaller than the government forecast last month.

U.S. growers will produce 1.583 billion bushels this year,
1.6 percent less than the U.S. Department of Agriculture's June
11 estimate of 1.609 billion bushels, Informa Economics Inc. said
today in a report to clients. As much as six times normal
moisture fell in the southern Great Plains in the past month,
delaying the harvest and damaging plants.


Read more at Bloomberg Commodities News

Enel still sees Endesa deal closing in Aug or Sept

(Reuters) - Spain's bourse regulator should clear the offer by Enel and
Spanish builder Acciona by the end of July, Conti told
reporters on the sidelines of a business event. The offer
values Endesa at 42.5 billion euro .




Acciona and state-controlled Enel already control 46
percent of Endesa, Spain's biggest power company.


Read more at Reuters.com Mergers News

Pricewaterhouse to pay $225 mln in Tyco settlement

(Reuters) - Pricewaterhouse could not immediately be reached for comment.




Read more at Reuters.com Business News

Group fights higher taxes on buyout firms, funds

(Reuters) - Republican Rep. Eric Cantor of Virginia is heading a
coalition backed by the financial services, real estate, resort
and energy industries to thwart a U.S. House bill that takes
aim at the 15 percent tax rate now paid by most managers of
private equity funds, hedge funds and other investment
partnerships.




The Coalition for the Freedom of American Investors and
Retirees also opposes a bipartisan Senate bill that would close
a loophole that allows private equity firms to go public as
partnerships without paying corporate taxes.


Read more at Reuters.com Government Filings News

Mexico Bolsa Rises to Record, Led by America Movil; Chilean Stocks Decline

(Bloomberg) -- Mexico's main stock index jumped to a
record, heading for its biggest weekly gain since March, as
emerging markets rallied and Standard & Poor's said it may raise
the country's credit rating.

The Bolsa index advanced 369.96, or 1.2 percent, to 32,547.79
as of 1:46 p.m. in New York, led by America Movil SAB, Latin
America's biggest mobile phone company. The index was up 4.5
percent for the week, and today eclipsed a June 5 record. Brazil's
main stock index was heading for it biggest weekly gain in three.


Read more at Bloomberg Stocks News

Genzyme, Haynes, Macy's, Parametric, PolyOne, Savvis: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes on U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 2:40 p.m. in New York.

CBOT Holdings Inc. (BOT US) rose $13.10, or 6.4 percent, to
$219.25. Chicago Mercantile Exchange Holdings Inc. (CME US)
raised its offer for the Chicago Board of Trade for a third time,
to $11 billion, to fend off rival Intercontinental Exchange Inc.
(ICE US) and form the world's largest futures exchange. Chicago
Merc shares rose $5.65 to $561.34, and Intercontinental shares
gained $4.17 to $155.98.


Read more at Bloomberg Stocks News

TREASURIES-Strong jobs data hits bonds, dims rate cut hopes

(Reuters) - NEW YORK, July 6 - U.S. Treasury debt prices fell
on Friday, pushing yields to two-week highs, after strong jobs
data dashed some of the last remaining expectations that the
Federal Reserve would cut interest rates this year.




Unexpectedly robust job growth in June and upward revisions
to figures for April and May added to recent downward pressure
on bonds. Based on the rise in benchmark yields, the market was
nearing its biggest week of losses in just over a year.


Read more at Reuters.com Bonds News

PSEG sees higher costs from NJ carbon law

(Reuters) - PSEG Chief Executive Ralph Izzo said the utility plans to
ask state regulators later this year to approve measures that
would allow it to pass along to customers the costs of the new
programs it hopes to implement to meet the state's aggressive
goals.




"It won't be cost effective. Customers will need to pay
more," Izzo told Reuters at a ceremony where New Jersey
Governor John Corzine signed into law the emissions cuts.


Read more at Reuters.com Government Filings News

CME "confident" CBOT $11.6 bln deal will get done

(Reuters) - CBOT members and shareholders and CME shareholders will wrap up voting on Monday on CME's plan to buy the Chicago Board of Trade's parent for about $11.6 billion, including a one-time special dividend to be paid by CBOT.




The deal would put the numbers one and two U.S. futures marts together to create the world's largest derivatives exchange.


Read more at Reuters.com Business News

Talks Resume to Avert a Planned Strike at Refinery in Regina, Saskatchewan

(Bloomberg) -- Union officials met with managers at
at Federated Co-operatives Ltd.'s 100,000 barrel-a-day oil
refinery in Regina, Saskatchewan, to try to avert a strike
scheduled to begin tomorrow morning.

Union members this week voted in favor of a strike, which
can legally begin at 10 a.m. local time tomorrow, Kate McKinley,
a negotiator for the Communications, Energy and Paperworkers
Union of Canada, said in an interview today. The two sides
planned to resume talks at 10 a.m. local time, or noon New York
time, she said.


Read more at Bloomberg Energy News

Emerging debt-Prices lower on strong US jobs data

(Reuters) - Brazil's local rates were an exception, as a moderate
reading of the country's benchmark inflation index supported
the view that the central bank will keep cutting interest rates
at the current pace of half a percentage point for a while.




Yields on the benchmark 10-year U.S. Treasury note
rose to 5.19 percent from 5.14 percent late on
Thursday on news 132,000 new jobs were added to non-farm
payrolls in June, more than the 120,000 expected by economists.
In the beginning of the week, 10-year Treasuries yields were
below 5 percent.


Read more at Reuters.com Bonds News

Macy's Shares Have Biggest Rally in 2 Weeks on Renewed Buyout Speculation

(Bloomberg) -- Shares of Macy's Inc., the second-
largest U.S. department-store chain, rose the most in two weeks
on renewed speculation the company may be bought.

``The same takeout rumors are making the rounds,'' said
David Heupel, a fund manager for Minneapolis-based Thrivent
Financial for Lutherans, which owned 255,000 Macy's shares as of
March 31. ``The rumors have been persistent that Macy's could
conceivably be attractive to private equity.''


Read more at Bloomberg Stocks News

US STOCKS-Shares rise as oil prices bolster energy stocks

(Reuters) - NEW YORK, July 6 - U.S. stocks gained on Friday
as shares of energy companies got a boost from rising oil
prices.




Industrial and technology shares also rose after a
stronger-than-expected jobs report indicated strength in the
economy, mitigating early concerns about the potential of
rising borrowing costs due to higher U.S. government bond
yields.


Read more at Reuters.com Bonds News

Billionaire Perelman appeals Morgan Stanley decision

(Reuters) - A divided panel of the Florida Fourth District Court of Appeal in West Palm Beach vacated the award in March, saying Perelman failed to prove damages because he did not show what Sunbeam shares would have been worth had there been no fraud.




In his appeal, filed on Thursday, Perelman said the majority erred in finding that he failed to prove damages, and in depriving him of a retrial where he could prove them.


Read more at Reuters.com Business News

Cotton Rises to Three-Year High on Speculation U.S. Production to Decline

(Bloomberg) -- Cotton in New York rallied to a
three-year high on speculation the U.S. government will reduce
its production forecast next week after farmers planted the
fewest acres with the fiber since 1989.

About 11.06 million acres were planted with cotton this
year, 9 percent less than forecast in March and 28 percent fewer
than last year, the U.S. Department of Agriculture said June 29.
The lower acreage may prompt the USDA to cut its production
estimate for the year starting Aug. 1 from a June forecast of
18.8 million bales.


Read more at Bloomberg Commodities News

Mexican stocks up as investors eye tax reform

(Reuters) - The benchmark IPC stock index was up 1.01 percent at
32,503 points, while the peso currency rose 0.19
percent to 10.786 per dollar.




Mexican lawmakers are debating changes to President Felipe
Calderon's tax reform proposal that was unveiled last month.


Read more at Reuters.com Bonds News

TREASURIES-Bonds fall as payrolls scotch Fed cut forecasts

(Reuters) - NEW YORK, July 6 - U.S. Treasury debt prices fell
on Friday after stronger-than-expected job growth dashed any
lingering expectations of a cut in benchmark interest rates
from the Federal Reserve any time soon.




June payrolls were stronger than expected and the
government revised sharply higher the numbers for April and May
payrolls, adding to the pressure on bond prices. Click on
ID:nN06239056 for details.


Read more at Reuters.com Bonds News

Soybeans Rise on Forecasts for Hotter Weather That May Damage Midwest Crop

(Bloomberg) -- Soybeans rose, heading for a second
straight weekly gain, on speculation that unusually hot, dry
weather may damage U.S. crops west of the Mississippi River.

Little rain is expected the next two weeks from western
Nebraska to Minnesota, with brief periods of above-normal
temperatures likely to increase stress on crops that received
less than 25 percent the normal rain in June, said Tim Bowden, a
meteorologist for Planalytics Inc. in Wayne, Pennsylvania.


Read more at Bloomberg Commodities News

Brazil's Real Advances as Inflation Report Bolsters Rate Cut Speculation

(Bloomberg) -- Brazil's real rose after a report
showed inflation was slower than economists expected in June,
bolstering speculation the central bank will keep cutting
interest rates.

The real rose 0.7 percent to 1.9002 per dollar at 11:40 a.m.
New York time amid optimism that more rate cuts will boost
growth, helping lure investment to Latin America's biggest
economy. The real is the top performer this year among the 16
most-actively traded currencies against the dollar, gaining 12.4
percent.


Read more at Bloomberg Emerging Markets News

Rio Tinto said to be eyeing Alcan/Alcoa deal

(Reuters) - Rio has asked investment banks Credit Suisse and Deutsche Bank to advise it on a range of options, including a possible bid for Alcan, the sources said. A bid for Alcoa is also possible but less likely, they added.




Rio declined to comment, as did Credit Suisse. A spokesman for Deutsche Bank could not be reached.


Read more at Reuters.com Mergers News

Strong jobs growth bodes well for economy

(Reuters) - Wages also grew and the work week lengthened while the national unemployment rate remained steady at a relatively low 4.5 percent, bolstering an impression that the economy was bouncing back from a lull at the start of the year.




"It is beginning to look as if the early-year economic malaise was really just the pause that refreshed," said economist Joel Naroff of Naroff Economic Advisors Inc. in Holland, Pennsylvania.


Read more at Reuters.com Business News

Gold, Silver Futures Advance in New York as Dollar Weakens Against Euro

(Bloomberg) -- Gold and silver rose in New York after
a decline in the value of the dollar boosted the appeal of
precious metals as alternative investments.

Gold generally moves in the opposite direction of the U.S.
dollar, which fell against the euro even after a report showed
more jobs were created last month than forecast. Before today,
gold had gained 2 percent this year while the dollar had dropped
3 percent against the euro.


Read more at Bloomberg Commodities News

Oil Rises to a 10-Month High on Signs of Growing Demand, Risks to Supply

(Bloomberg) -- Crude oil rose to a 10-month high on
signs U.S. economic growth may accelerate, spurring increased
fuel demand in the world's biggest energy consumer.

U.S. employers added 132,000 workers in June, wages grew and
the unemployment rate stayed near a six-year low, a Labor
Department report showed today. Oil output by the Organization of
Petroleum Exporting Countries was little changed last month,
according to a Bloomberg News survey, showing that the group was
ignoring calls by consuming countries to bolster production.


Read more at Bloomberg Energy News

Dow Jones says News Corp. deal not yet reached

(Reuters) - NEW YORK, July 6 - Rupert Murdoch's News Corp. has not yet reached a deal to buy Dow Jones & Co. Inc. as discussions continue, representatives for Dow Jones and its controlling Bancroft family said on Friday.



Talks are continuing over such issues as price, a source familiar with the matter also said on Friday.


Read more at Reuters.com Bonds News

KKR Offers Safeguards, Discount to Investors for $1.4 Billion Maxeda Loan

(Bloomberg) -- Kohlberg Kravis Roberts & Co.
strengthened investor safeguards and offered a discount to
borrow $1.4 billion for Dutch DIY retailer Maxeda BV, said a
banker involved in the transaction.

KKR is selling the debt at 99.75 percent of face value and
adding a so-called maintenance covenant that restricts how much
it can borrow relative to cashflow, according to the banker, who
declined to be identified because the deal isn't completed.


Read more at Bloomberg Bonds News

Sugar Rises as Crude Oil Rally May Boost Demand for Brazil's Cane Ethanol

(Bloomberg) -- Sugar in New York rose to the highest
in more than a week on speculation that rising crude oil prices
will increase demand for ethanol, the gasoline substitute made
from sugar cane.

Crude oil reached a 10-month high of $72.94 a barrel today
on speculation unrest in Nigeria, the biggest African producer,
may disrupt supplies. Mills in Brazil, the world's largest sugar
producer, are using more than half the country's cane crop to
make fuel instead of sweetener.


Read more at Bloomberg Commodities News

Mexico May Ease Rules to Foster Competition, Attract Foreign Fund Managers

(Bloomberg) -- Mexican market regulators may ease rules
in the asset management industry, opening the way for more foreign
fund managers and reducing the dominance of local banks to increase
investment in the country's securities.

The National Banking and Securities Commission may create a
new category of licensed financial company to spur competition in
the market for underwriting securities, said Mauricio Basila, a
vice president in charge of market supervision. The commission is
also reviewing ways to bring more fund management companies to the
country.


Read more at Bloomberg Stocks News

UBS shake-up renews investment bank sale talk

(Reuters) - UBS abruptly replaced its CEO on Thursday night for unclear reasons, but the move followed the shut-down of its hedge fund business and the defection of dozens of top U.S. and European bankers who complained about the bank's unwillingness to commit more capital to leveraged finance.




UBS share gains over the past 18 months have also lagged those of European peers Credit Suisse and Deutsche Bank .


Read more at Reuters.com Mergers News

Colombia's Peso Bonds Gain on Expectations Inflation to Slow a Third Month

(Bloomberg) -- Colombia's bonds gained as
expectations inflation will continue to slow made the fixed-rate
securities more attractive.

Colombian inflation slowed in June for a second straight
month as food prices dropped, the government said on July 1.


Read more at Bloomberg Bonds News

Chile's Peso Strengthens on Expected Benchmark Rate Increase, U.S. Growth

(Bloomberg) -- Chile's peso strengthened for a
fourth day as investors expect the central bank to raise rates
next week, making the currency more attractive, and as a strong
U.S. economy suggested exports will be maintained.

Seven economists surveyed by Bloomberg expect the central
bank to increase rates next week to 5.25 percent while three see
them unchanged at 5 percent. Policy makers are expected to
announce their decision on July 12.


Read more at Bloomberg Currencies News

Dollar Gains Most Against Yen in More Than a Week on U.S. Job Growth

(Bloomberg) -- The euro rose to an all-time high
against the yen and gained versus the dollar as rising global
interest rates prompted Japanese investors to buy assets abroad.

The yen fell against all 16 of the most-actively traded
currencies as Japan's 0.5 percent interest rate, the lowest among
developed nations, encouraged investors to borrow in the country
for higher returns overseas in a practice known as the carry
trade. The Bank of England yesterday lifted borrowing costs a
quarter-percentage point to a six-year high of 5.75 percent.


Read more at Bloomberg Currencies News