Hedge funds pull Manhattan rents to $200/sq ft

(Reuters) - While hedge funds are not numerous compared with the
overall Manhattan tenancy, their influence on rental rates has
been breathtaking, several brokers said.




"They are the drivers of where market rents are going,"
Alex Chudnoff, Cushman & Wakefield executive director, said.


Read more at Reuters.com Mergers News

Japanese Five-Year Govrenment Notes May Fall Before Central Bank Meeting

(Bloomberg) -- Japan's government notes may decline
for a fourth day on concern investors will avoid buying five-
year debt sold at an auction today before a central bank
decision on interest rates later this week.

Demand for bonds may weaken on speculation some Bank of
Japan policy makers will vote against keeping borrowing costs
unchanged on July 12, paving the way for a rate increase next
month. Five-year yields yesterday climbed to the highest in more
than three weeks after a report showed machinery orders rose.


Read more at Bloomberg Bonds News

Japan's Commodity Stocks May Fall; Kawasaki Heavy, Advantest May Advance

(Bloomberg) -- Japanese commodity-related shares may
decline after the price of crude oil fell in New York and Alcoa
Inc., the world's second-biggest aluminum producer, reported a
drop in its second-quarter profit.

Limiting declines, chip-related shares such as Advantest
Corp. may gain after brokerages in the U.S. said Intel Corp. may
report second-quarter sales at the high-end of the company's own
forecast.


Read more at Bloomberg Stocks News

UPDATE 3-CME buy of CBOT easily approved by shareholders

(Reuters) - CHICAGO, July 9 - Shareholders of Chicago
Mercantile Exchange Holdings Inc and CBOT Holdings Inc
voted on Monday to merge the two largest U.S. futures
exchanges under one roof.




After an almost 9-month gestation period, the votes
delivered one huge, almost $12 billion baby.


Read more at Reuters.com Market News

Lear accepts sweetened Icahn bid, Pzena not swayed

(Reuters) - Icahn, Lear's biggest shareholder, raised his offer to $37.25 per share from a previous $36 that proxy advisory firms and several shareholders called too low. Just weeks ago, Icahn stood firm against raising the offer.




The bump up was not enough to sway Richard Pzena, head of Pzena Investment Management LLC, a firm that has led opposition to the Icahn bid, and plans to vote against the new offer from Icahn's American Real Estate Partners LP .


Read more at Reuters.com Business News

Citigroup CEO sees no end soon to buyout boom--FT

(Reuters) - He denied Citigroup was pulling back, the newspaper said.




"When the music stops, in terms of liquidity, things will
be complicated," he said. "But as long as the music is playing,
you've got to get up and dance. We're still dancing."


Read more at Reuters.com Bonds News

UPDATE 2-Ex-North Fork CEO Kanas steps down at Capital One

(Reuters) - NEW YORK, July 9 - Capital One Financial Corp.
, the credit card and banking company, said on Monday
longtime North Fork Bancorp Inc. chief executive John Adam
Kanas will step down as head of banking operations and resign
from its board.




The McLean, Virginia-based company will take a $27 million
second-quarter charge to speed up the vesting of equity awards
to Kanas and John Bohlsen, a former North Fork vice chairman
who is stepping down as head of commercial banking.


Read more at Reuters.com Bonds News

Estee Lauder agrees to buy Canadian hair-care company Ojon

(Reuters) - Terms of the deal, which is expected to close in July, were not disclosed.






Read more at Reuters.com Mergers News

UPDATE 2-Alcoa 2nd quarter profit slips; extends Alcan offer

(Reuters) - NEW YORK, July 9 - Alcoa Inc reported
second-quarter earnings on Monday that matched Wall Street
expectations, but the aluminum producer's revenue fell short of
forecasts.




Alcoa also extended its $28.6 billion offer to acquire
Canadian rival Alcan Inc by a month. The offer,
which has been rejected by Alcan, was due to expire on
Tuesday.


Read more at Reuters.com Market News

Banco de Chile shareholder says won't cede control

(Reuters) - Quinenco said it would maintain control of the bank through
LQIF, but that within three years Citigroup could acquire up to
50 percent of LQIF.




Quinenco said at the end of June that it had reopened talks
with Citigroup regarding a possible association, which resulted
in Banco de Chile stock rising 15 percent.


Read more at Reuters.com Bonds News

Malaysia Airports group wins Istanbul airport deal

(Reuters) - The winner will build a new international terminal at the
Sabiha Gokcen airport on Istanbul's Asian side and operate the
airport for 20 years.




The other bidders were:


Read more at Reuters.com Mergers News

TJX stock and options rise on renewed LBO rumors

(Reuters) - The company was not immediately available for comment.




"We have seen loads of activity on the call side in TJX and
that has been sparked by unconfirmed rumors of a leveraged
buyout," said Andrew Wilkinson, senior market analyst at
Interactive Brokers Group.


Read more at Reuters.com Mergers News

UPDATE 1-Ex-North Fork CEO Kanas steps down at Capital One

(Reuters) - Kanas led North Fork before selling the Melville, New
York-based company at the beginning of December to Capital One
for about $13.2 billion.




The merger made McLean, Virginia-based Capital One, the
largest independent U.S. credit card issuer, into one of the
nation's 15 largest banking companies.


Read more at Reuters.com Mergers News

Mexican Bonds Gain After Annual Inflation Rose Less Than Expected in June

(Bloomberg) -- Mexican local-currency bonds gained
for the first time in four days after a government report showed
consumer prices rose last month less than forecast.

The yield on the 10 percent bond due in November 2036 fell
1 basis point, or 0.01 percentage point, to 7.74 percent. The
price, which moves inversely to the yield, rose 0.2 centavo to
126.22 centavos per peso, according to Santander.


Read more at Bloomberg Bonds News

New Zealand's Dollar Declines on Prospect of Waning Business Confidence

(Bloomberg) -- The New Zealand dollar dropped on
speculation a report today will show business confidence fell
and companies employed less people, easing pressure on the
central bank to raise interest rates.

New Zealand's record 8 percent official cash rate has
helped the currency, known as the kiwi, gain 27 percent the past
year with investors lured to the nation's higher-yielding assets.
New Zealand Institute of Economic Research Inc.'s quarterly
survey of business opinion may show fewer capacity constraints
and declining confidence, ANZ National Bank Ltd. said.


Read more at Bloomberg Currencies News

ICE tells CBOT it created additional value

(Reuters) - Sprecher also commended ICE shareholders, saying, "We have
shown our ability to leverage our position as one of the
fastest growing, most global and most technologically
sophisticated exchanges."




Read more at Reuters.com Bonds News

Apple plans cheaper, Nano-based phone: JP Morgan

(Reuters) - Apple filed a patent application document dated July 5 that refers to a multifunctional handheld device with a circular touch pad control, similar to the Nano's scroll wheel.




Apple did not respond to requests for comment.


Read more at Reuters.com Business News

Dollar May Decline Against the Euro Before Speech on Inflation by Bernanke

(Bloomberg) -- The dollar may fall versus the euro
before a speech on inflation by Federal Reserve Chairman Ben S.
Bernanke, who might say rising prices are still a concern.

The euro has gained 1.3 percent versus the dollar since the
Fed left benchmark interest rates at 5.25 percent for an eighth
meeting on June 28 when it said a moderation in inflation hasn't
been ``convincingly demonstrated.'' European Central Bank
President Jean-Claude Trichet signaled on July 5 the bank is
ready to add to its eight interest-rate increases since 2005.


Read more at Bloomberg Currencies News

Parker Hannifin orders rise 6 percent in June

(Reuters) - Parker's aerospace division reported an 8 percent increase
in orders based on a rolling 12-month average.




Read more at Reuters.com Market News

US STOCKS-Buybacks, solid earnings forecasts lift indexes

(Reuters) - J&J gained 1 percent after the health-care company
announced plans for a $10 billion share buyback.
ConocoPhillips, which nearly quadrupled its repurchase plan to
$15 billon, rose 3.7 percent.




Alcoa gained 1.7 percent and was a top performer among the
Dow industrials. The aluminum producer kicked off the
second-quarter earnings season after the bell, reporting a
profit that matched estimates.


Read more at Reuters.com Bonds News

U.S. image sinks but American goods keep selling

(Reuters) - Those figures run counter to the global image of America. A
47-country survey released in late June by the Pew Global
Attitudes Project documented wide anti-American sentiment since
the survey was launched in 2002 and found those attitudes
deepening this year.




The United States' favorable ratings declined in 26 of the
33 countries for which a comparison was available, with
negative views particularly strong in the Middle East.


Read more at Reuters.com Bonds News

Cheesecake Factory says Q2 revenue rises 15.7 pct

(Reuters) - Total revenue rose to $373.2 million from $322.6 million a year ago. Analysts were expecting $370.9 million, according to Reuters Estimates.






Read more at Reuters.com Market News

RLPC-UPDATE 1-Swift & Co. pulls $600 mln junk bond deal--sources

(Reuters) - J.P. Morgan was leading the Rule 144A private placement
deal with a "Caa2" rating by Moody's Investors Service and
"B-minus" rating by Standard & Poor's, according to KDP
Investment Advisors. The bond offering is backed by a $600
million bridge loan.




The offer consisted of a $200 million senior cash-pay
tranche due 2015; a $200 million senior toggle tranche due
2015; and a $200 million senior floating-rate tranche due
2014.


Read more at Reuters.com Mergers News

CME chairman says CBOT shareholders OK merger

(Reuters) - "Today has been a long time in coming," Duffy said.




The $11.9 billion merger will put the two largest U.S. futures exchange together under one roof.


Read more at Reuters.com Mergers News

U.S. Stocks Rise, Paced by Alcoa; J&J, ConocoPhillips Climb on Buybacks

(Bloomberg) -- The U.S. stock market extended
July's advance on $25 billion of share buybacks and speculation
second-quarter earnings will surpass analysts' estimates.

ConocoPhillips, the third-largest U.S. oil producer, rose
to a record and Johnson & Johnson, the world's biggest maker of
health-care products, climbed the most in almost two months
after saying they will repurchase stock. Alcoa Inc., the
second-largest aluminum maker, led the Dow Jones Industrial
Average to within 27 points of a record ahead of today's
earnings report.


Read more at Bloomberg Stocks News

US STOCKS-Wall St closes higher on earnings view, buybacks

(Reuters) - The Dow Jones industrial average was up 38.29
points, or 0.28 percent, to end unofficially at 13,649.97.
The Standard & Poor's 500 Index was up 1.41 points, or
0.09 percent, to finish unofficially at 1,531.85. The Nasdaq
Composite Index was up 3.51 points, or 0.13 percent, to
close unofficially at 2,670.02.




Read more at Reuters.com Bonds News

Sarkozy pledges budget discipline with reform

(Reuters) - "If we don't get to 2010, I'll be the first to regret that
fact but 2012 isn't a ridiculous date. That's something that was
discussed by the finance ministers and that's what will be in
the second scenario in the revised programme," he said.




Read more at Reuters.com Bonds News

Emerging debt-Prices track stocks higher in slow market

(Reuters) - Mexico's local and external bonds were further bolstered by
news that the country's June inflation was in line with market
expectations, traders said.




Overall emerging market returns rose 0.16 percent,
according to the benchmark JP Morgan's EMBI+ index ,
while Brazil's global bond due 2040 , the most
liquid of its asset class, gained 0.187 point to be bid
131.125.


Read more at Reuters.com Bonds News

Kirin Holdings, Nissan Motor, Bic Camera, Shidax: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading. Statements
were released after the close. Stock symbols are in parentheses.

Bic Camera Inc. (3048 JQ): The electronics retailer said net
income rose 59 percent to 6.42 billion yen ($52 million) in the
nine months ended May 31. Bic Camera raised its planned annual
dividend for the year ending Aug. 31 to 1,500 yen from 1,000 yen.
The company will split its stock 2-for-1 for shareholders of record
as of Aug. 31. The stock was unchanged at 149,000.


Read more at Bloomberg Stocks News

General Growth buys out portfolio partner

(Reuters) - Chicago-based General Growth said it funded the purchase primarily through a $750 million bank loan, which includes amortization of fees. The loan bears interest at LIBOR plus 1.4 percent. The acquisition also includes the assumption of about $1.05 billion of existing mortgage debt.







Read more at Reuters.com Mergers News

UPDATE 1-Milberg Weiss partner to plead guilty -prosecutors

(Reuters) - David Bershad, formerly a name partner at the New
York-based firm, will plead guilty to a federal conspiracy
charge at a hearing before U.S. District Judge John Walter
later on Monday, prosecutors said in a statement.




Bershad's lawyer was not immediately available for comment,
nor was a spokeswoman for New York-based Milberg Weiss.


Read more at Reuters.com Government Filings News

ICE won't say if higher CBOT offer will be made

(Reuters) - ICE is in a battle with the Chicago Mercantile Exchange to purchase the Chicago Board of Trade . The CME on Friday increased its takeover offer for CBOT to $11.9 billion, besting the ICE's current offer worth about $11.8 billion.



"I can't talk about it. Give me a break," ICE Chairman Jeffrey Sprecher told Reuters before testifying at a Senate hearing on excessive speculation in U.S. natural gas markets.


Read more at Reuters.com Mergers News

Brinker, CytRx, Cummins, Isis, KBR, SanDisk, Tyco: U.S. Equity Movers

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

Alnylam Pharmaceuticals Inc. (ALNY US) rose $8.20, or 54
percent, to $23.40. Roche Holding AG (ROG VX), the world's
biggest maker of cancer medicines, may pay as much as $1 billion
for rights to Alnylam technology that may allow the companies to
find new tumor, liver and breathing treatments.


Read more at Bloomberg Stocks News

Susquehanna Bancshares takes restructuring charge

(Reuters) - Susquehanna disclosed the charge in a U.S. Securities and
Exchange Commission filing. The company has about $8.2 billion
of assets, and through three banking units operates 163
branches in mid-Atlantic states. Its shares were down 20 cents
to $22.70 in afternoon trading on the Nasdaq.




Read more at Reuters.com Bonds News

Speculation swirls over CIBC's subprime exposure

(Reuters) - "The Canadian bank CIBC has acknowledged ownership of
around $330 million, though some observers say the figure could
be more than $2 billion," Barron's newspaper said without
identifying the "observers".




"That estimate would constitute a substantial chunk of the
bank's approximately $13 billion in shareholder equity."


Read more at Reuters.com Bonds News

LaBranche may consider selling company: source

(Reuters) - The company said earlier on Monday that it was exploring "strategic alternatives" but did not specify what its options were.







Read more at Reuters.com Business News

UPDATE 2-Schnitzer posts strong Q3 results, shares rise

(Reuters) - Shares of the metals recycler rose more than 17 percent, or
$9.01, to $61.33 in afternoon trade, after touching an all-time
high of $62.11 earlier, on the Nasdaq.




The company reported third-quarter net income of $43.8
million, or $1.47 a share, compared with $30.2 million, or 98
cents a share, a year ago. Revenue rose 40 percent to $709.4
million.


Read more at Reuters.com Market News

Sugar Rises on Speculation Brazil Is Using More Cane to Produce Ethanol

(Bloomberg) -- Sugar futures in New York rose on
speculation mills in Brazil, the biggest producer, may turn more
of a record sugar cane crop into ethanol and make less of the
sweetener than expected.

Mills in Brazil's center-south, the main sugar cane-growing
area, have turned less than 45 percent of the crop into sugar,
said Antonio Padua, technical director of the Center-South Sugar
and Ethanol Industry Association, known as Unica. Producers may
turn 55 percent of the harvest into ethanol, he said June 25.


Read more at Bloomberg Commodities News

RLPC-UPDATE 1-Source Interlink restructures $1.18 bln loan

(Reuters) - Source Interlink is the latest transaction to retool its
loan as investors begin to demand extra protection and stricter
terms on debt financings. Source Interlink is raising the bank
loan to back its $1.2 billion acquisition of Primedia's
Enthusiast Media division.




A senior secured leverage test of 6.5 times now applies to
the entire deal.


Read more at Reuters.com Bonds News

Nymex Gas Falls on Forecasts for End of U.S. Heat Wave Later This Week

(Bloomberg) -- Natural gas futures in New York
declined, erasing earlier gains, on a forecast for a Canadian
cool front to replace the blazing temperatures gripping the
Northeast U.S. for the next several days.

An excessive-heat warning was issued until 6 p.m.
local time for New Jersey, southeastern Pennsylvania and
Delaware, and could be extended later today to include Baltimore
and New York City, where increasing humidity and temperatures may
boost the heat index to 105 degrees Fahrenheit (41 Celsius).


Read more at Bloomberg Energy News

Danone says Numico deal ups net debt by 7 bln euros

(Reuters) - "This is a good opportunity to put more debt on our balance sheet," Danone Chief Finance Director Antoine Giscard d'Estaing said in a conference call with analysts. "...even if the net debt generated with this acquisition is 7 billion euros.."




Giscard d'Estaing also said the deal would boost Danone's revenues in the medium term.


Read more at Reuters.com Business News

Van Houtte shareholders OK takeover by Littlejohn

(Reuters) - The plan of arrangement remains subject to the sanction of
the Superior Court of Quebec, Van Houtte said, adding it
expects the application for sanction will be heard July 10.




The Montreal-based company, Canada's largest roaster and
distributor of coffee, will continue operating under the Van
Houtte name.


Read more at Reuters.com Mergers News

BP Shuts Largest Crude Unit at Whiting Refinery in Indiana, Person Says

(Bloomberg) -- BP Plc is shutting down the largest
of three crude units at its Whiting, Indiana, refinery, the
biggest refinery in the U.S. Midwest, a person familiar with the
plant's status said.

The unit, which can process 250,000 barrels of oil a day,
is being shut for unplanned maintenance, the person said. A date
for the restart of the unit has not been determined.


Read more at Bloomberg Energy News

US STOCKS-Indexes edge up, helped by Boeing

(Reuters) - NEW YORK, July 9 - U.S. stocks rose on Monday,
helped by a gain in Boeing Co. and positive brokers'
comments on Google Inc and Home Depot Inc .




The view that second-quarter earnings will beat
expectations has been gaining supporters, analysts said, but
worries about inflation and bond yields above 5 percent
remain.


Read more at Reuters.com Bonds News

REFILE-UPDATE 1-Richelieu profit edges higher, stock slips

(Reuters) - The specialty hardware distributor, which also makes
furniture, kitchen cabinets and doors, said it earned C$8.65
million , or 37 Canadian cents a share, in the
period ended May 31. That is up slightly from earnings of
C$8.63 million, or 37 Canadian cents a share, in the year-prior
quarter.




Analysts had expected earnings per share of 41 Canadian
cents before exceptions, according to Reuters Estimates.
Richelieu stock slipped 32 Canadian cents, or 1.3 percent, to
C$24.63 by early afternoon on the Toronto Stock Exchange.


Read more at Reuters.com Market News

Murdoch to be talk of Sun Valley media festival

(Reuters) - Participants will watch closely for any move by the 76-year-old chief executive of News Corp., including a sudden departure from the event, as a sign of a deal that would give him control of The Wall Street Journal, one of the world's most influential business media outlets.




News Corp. hired Allen & Co., the media industry's go-to bankers, to advise on the bid. Perhaps that is one reason why Dow Jones CEO Richard Zannino, a fixture at last year's Sun Valley but who hired Goldman Sachs, is not on the invitation list this year.


Read more at Reuters.com Business News

China Southern says to buy 45 Airbus, Boeing jets

(Reuters) - The Boeing planes, to be purchased by its 60 percent-owned
unit, Xiamen Airlines, would be delivered between July 2011 and
November 2013, the statement said, adding that list prices of
the Boeing jets were at $70.50 million-79.00 million each.




But purchase prices would be below the list prices in both
cases, the airline said. Financing for the purchases would be
met with internal resources and bank loans, it said.


Read more at Reuters.com Bonds News

Huntington sees Q2 profit below view

(Reuters) - The announcement, which sent its shares down as much as 4.7 percent, is evidence that a contraction in home prices and weakening credit quality may be affecting banks' bottom lines.




Last week, the American Bankers Association, a trade group, said U.S. consumer delinquencies were at their highest level since the second quarter of 2001, when the economy was in recession.


Read more at Reuters.com Hot Stocks News

Feeder Cattle Futures Rise in Chicago on Lower Corn Prices; Hogs Increase

(Bloomberg) -- Feeder cattle futures rose to a nine-
month high in Chicago as lower corn prices increased demand for
cattle sent to feedlots to be fattened for slaughter. Hog futures
also gained.

The price of corn has fallen 18 percent on the Chicago Board
of Trade since June 18, increasing expectations that feeder
cattle supplies will fall as corn-fed beef becomes more
attractive to consumers, said Paul Sedlacek, a broker at Midwest
Futures in Norfolk, Nebraska.


Read more at Bloomberg Commodities News

Antrim Energy shares leap on North Sea oil find

(Reuters) - "The tests confirm a substantial oil column extending downward into the Etive Formation in the previously undrilled Central Causeway fault compartment," Antrim said in a release.




The company said it completed testing at two oil-bearing sandstone zones at the well.


Read more at Reuters.com Hot Stocks News

Court upholds EU Commission approval of Akzo deal

(Reuters) - "The court has found that the Commission did not breach its
own guidelines as regards the coordinated and non-coordinated
effects of the merger and in relation to market share and
concentration levels," the Court of First Instance said.




Read more at Reuters.com Mergers News

German 2008 Power Climbs to Week-High as Europe Emission Permit Costs Gain

(Bloomberg) -- German electricity for delivery next
year advanced for a third day as the price of carbon dioxide
emission allowances rose, increasing the cost of generating power
by burning fossil fuels.

Next-year baseload power prices in Germany, Europe's biggest
electricity market, gained as much as 20 cents, or 0.4 percent,
to 56.10 euros ($76.50) a megawatt-hour as of 9:40 a.m. in
Berlin, according to broker GFI Group Inc. That's the highest
since July 3. Baseload refers to power delivered round the clock.


Read more at Bloomberg Energy News

Roche backs RNAi research with $1 bln Alnylam deal

(Reuters) - LONDON/ZURICH, July 9 - Roche Holding AG has signed a deal worth up to $1 billion with Alnylam Pharmaceuticals Inc. , giving it access to the U.S. firm's skills in the new science of RNA interference.



The agreement is the largest drug discovery partnership in the field to date and a further vindication of the emerging area of biotechnology research, which involves blocking disease-causing proteins.


Read more at Reuters.com Mergers News

Carbon Emission Permits in Europe Rise as U.K. Natural Gas Prices Advance

(Bloomberg) -- European Union carbon dioxide permits
rose after U.K. day-ahead natural-gas prices reached their
highest this year.

Emission permits for delivery in December 2008 added 25
cents, or 1.2 percent, to 22.05 euros ($30.06) a metric ton,
according to prices from the European Climate Exchange in
Amsterdam at 9:52 a.m. local time. They earlier traded as high
as 22.30 euros, their highest since July 2.


Read more at Bloomberg Energy News

Nikkei hits 7-year closing high; tech, machine stocks up

(Reuters) - But shares of real estate firms such as Mitsui Fudosan and Mitsubishi Estate weighed on the market after the data fuelled concern about higher interest rates.




Shares of Sony Corp. ended down a touch after a company executive told Reuters in an interview in San Francisco that it plans to cut the price of its PlayStation 3 consoles in the United States by $100, or 17 percent, to $500.


Read more at Reuters.com Business News

CVC Capital Partners to Buy Chemical Distributor Univar for $2.07 Billion

(Bloomberg) -- CVC Capital Partners Ltd., Europe's
second-biggest buyout firm, agreed to pay 1.52 billion euros
($2.07 billion) for Univar NV, the largest distributor of
chemicals in the U.S.

CVC, based in London, will buy Univar for 53.50 euros a
share, the Dutch chemical company said in a statement today.
That's 37 percent more than the closing share price last week.


Read more at Bloomberg Stocks News

Australian Shares Climb to Record, Led by BHP Billiton on Higher Oil Price

(Bloomberg) -- Australian stocks rose, pushing the
S&P/ASX 200 Index to a record high. BHP Billiton Ltd. and Santos
Ltd. gained as oil prices traded near a 10-month high.

Rio Tinto Group advanced on a report it may bid for Alcan
Inc., while Zinifex Ltd. jumped on speculation of a combination
with Oxiana Ltd.


Read more at Bloomberg Stocks News

German Stocks Rise; Shares of Henkel, ThyssenKrupp, Bayer Pace Advance

(Bloomberg) -- German stocks advanced, led by Henkel
KGaA, ThyssenKrupp AG and Bayer AG.

The benchmark DAX Index rose 40.91, or 0.5 percent, to
8089.23 as of 9:06 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies climbed 0.5 percent.


Read more at Bloomberg Stocks News

European Stocks Advance, Led by BHP Billiton, Anglo American, Boliden

(Bloomberg) -- European stocks advanced for a second
day, led by mining companies after a strike in Chile lifted
copper prices. BHP Billiton Ltd. and Anglo American Plc rose.

``For copper, a fair amount of the recent price premium has
come through because of the strikes,'' said Stephen Pope, head of
equity research at Cantor Fitzgerald in London. ``The mining
story is good. We're seeing very strong economic numbers and
that's underpinning'' the shares.


Read more at Bloomberg Stocks News

European stocks rise in early trade, Univar surges

(Reuters) - At 0711 GMT, the pan-European FTSEurofirst 300 index was up 0.37 percent at 1,625.65 points.




"Positive U.S. jobs data on Friday put us in a good mood, but there were concerns about oil, which puts pressure on underlying commodity costs," said Justin Urquhart Stewart, director at 7 Investment Management.


Read more at Reuters.com Hot Stocks News

Roche signs up to $1 bln deal with Alnylam on RNAi

(Reuters) - Roche will pay Alnylam $331 million upfront in cash and equity investment, including a stake of 1.975 million Alnylam shares at $21.50 each, or just under 5 percent of Alnylam's outstanding common stock, the two firms said on Monday.




For that investment, Roche gets a non-exclusive license to Alnylam's technology platform. The alliance will initially focus on oncology, respiratory diseases, metabolic diseases and certain liver diseases.


Read more at Reuters.com Business News

Sabic Could Receive Approval for $1.3 Billion Sale of Islamic Bonds Today

(Bloomberg) -- Saudi Basic Industries Corp., the
world's biggest chemical maker by market value, may get
regulatory approval today to sell as much as 5 billion riyals
($1.3 billion) of Islamic bonds.

Saudi Basic, known as Sabic, plans to sell 20-year bonds to
buyers in six Gulf Arab states including Kuwait and the United
Arab Emirates, according to Alan Lowe, head of corporate finance
at Riyad Bank, which is arranging the deal. Sabic has the right
to buy back the notes after five years.


Read more at Bloomberg Bonds News

Canadian Dollar May Rally to 120 Yen as Economy Strengthens, Nomura Says

(Bloomberg) -- The Canadian dollar may extend a
rally to a 17-year high of 120 yen this quarter as a
strengthening economy and rising interest rates attract
investment, said Takahisa Odaka at Nomura Securities Co.

The Bank of Canada will lift the overnight rate by a
quarter percentage point to 4.5 percent tomorrow, increasing the
appeal of the nation's assets, according to all but one of 29
economists surveyed by Bloomberg News. Commodity demand from
China and other nations helped drive Canada's dollar to the
highest since 1977 against the U.S. currency last week. Raw
materials make up more than half of the nation's exports.


Read more at Bloomberg Currencies News

Rand barely moves against vs dollar, seen stuck in ranges

(Reuters) - South Africa's rand was barely moved from previous levels against the dollar early on Monday and should be stuck in ranges in the absence of key driving factors during the session, traders said.

The rand was at 6.9915 versus the dollar at 0630 GMT, 0.09 percent off its New York close of 6.9850 on Friday.


Read more at Reuters Africa

Morgan Stanley to buy $1 bln Seoul office building

(Reuters) - Morgan Stanley's real estate investment fund, AHI Holding B.V., beat other bidders including Australia's Macquarie Bank Ltd. and South Korea's Kookmin Bank in the race for the Daewoo building, located in the heart of downtown Seoul.






Read more at Reuters.com Mergers News

Singapore Air may sell Virgin Atlantic stake-paper

(Reuters) - Singapore Airlines and Virgin Atlantic could not
immiediately be reached for comment.




Read more at Reuters.com Mergers News

UPDATE 1-UMC posts small fall in June sales amid chip recovery

(Reuters) - TAIPEI, July 9 - UMC the world's No. 2
contract chip maker, posted a small annual decline in June sales
on Monday, but the result marked its fourth straight monthly
gain, amid a chip upturn driven by growing tech demand.




The Taiwan firm's second-quarter sales also improved from the
previous three months, when many clients suffered from high
stockpiles, which bodes well for the second half as new PCs,
cellphones, game consoles and flat-screen TVs hit the stores.


Read more at Reuters.com Market News

Copper Workers at Chile's Collahuasi Mine Plan Strike Today; Price Gains

(Bloomberg) -- A union at Dona Ines de Collahuasi,
Chile's third-largest copper mine, plans to begin a strike over
wages today, adding to labor unrest in Latin America that may
curb global supplies of the metal and bolster prices.

``The strike is definitely on,'' union President Hernan
Farias said yesterday. The walkout is set to start at 8 a.m.
local time at the mine, which accounts for 2.6 percent of global
supply, Ferias said. The planned stoppage follows more than a
month of talks with owners Xstrata Plc and Anglo American Plc.


Read more at Bloomberg Emerging Markets News