WRAPUP 1-LatAm markets breathe easier, helped by Wall St

(Reuters) - Equity markets posted the largest gains, with Brazilian
stocks rallying more than 3 percent after losses of almost 8
percent last week. Mexican and Argentine stocks followed suit,
with gains of more than 1.5 percent each.




"For me, this is only an adjustment. It is not a sign that
the upward trend is back, we can't affirm that yet," said Nami
Neneas, head of equities at Banif brokerage in Sao Paulo.


Read more at Reuters.com Bonds News

UPDATE 1-CB Richard Ellis second-quarter earnings soar

(Reuters) - CB Richard Ellis posted a second-quarter net profit of $141.1
million, or 59 cents per share, compared with $64.3 million, or 27
cents per share, in the year-ago quarter.




Excluding items, the Los Angeles-based company posted a profit
of $157.3 million, or 66 cents per share, ahead of the average of
analysts forecast of 41 cents per share, according to Reuters
Estimates.


Read more at Reuters.com Market News

RPT-CB Richard Ellis second-quarter earnings soar

(Reuters) - Excluding items, the company posted a profit of $157.3
million, or 66 cents per share, ahead of the average of
analysts forecast of 41 cents per share, according to Reuters
Estimates.




Read more at Reuters.com Market News

UDR posts higher quarterly FFO

(Reuters) - Analysts were expecting FFO of 45 cents cents a share,
according to Reuters Estimates.




FFO removes the profit-reducing effect that depreciation --
a noncash accounting item -- has on earnings.


Read more at Reuters.com Market News

U.S. vehicles rank bottom in world fuel efficiency

(Reuters) - The report comes as the House of Representatives will debate energy legislation this week, and some lawmakers want to tack on language to significantly increase the miles American cars and trucks travel on a gallon a gasoline.




U.S. fuel-efficiency requirements for passenger cars have been stuck at 27.5 miles per gallon since 1985, while the standard for pickups, minivans and other light trucks will increase from 20.7 mpg in 2004 to 24 mpg in 2011.


Read more at Reuters.com Business News

UPDATE 1-Texas Roadhouse quarterly net income rises

(Reuters) - The company posted second-quarter earnings of $9.3 million,
or 12 cents a share, compared with $8.8 million, or 12 cents a
share, last year.




Total revenue was $181 million for the period, compared
with $146.7 million last year.


Read more at Reuters.com Market News

US CREDIT-Spreads likely to stay shakey after whipsaw

(Reuters) - Analysts were hesitant to call a top or bottom to the
market on Monday though, after benchmark spreads whipsawed
through one of their largest one day moves in history, hitting
mutli-year wides early in the day, only to end the day
tighter.




The investment grade credit derivative index jumped around
20 basis points in early trade to more than 100 basis points,
its widest level since the index's inception in 2004, before
whipping back to around 73 basis points, around 8 basis points
tighter on the day.


Read more at Reuters.com Bonds News

UPDATE 1-Sun Micro posts 4th-qtr profit vs loss

(Reuters) - The stock rose 12 percent to $5.47 in extended trading
following the earnings report after closing down 0.6 percent at
$4.89 on Nasdaq.




Earnings of 9 cents per share beat the analysts' average
estimate of 5 cents per share. Net income was $329 million in
the fourth quarter ended June 30, compared with a year-earlier
net loss of $301 million, or 9 cents per share.


Read more at Reuters.com Market News

Dollar Drops Versus Euro as Stock Rally Eases Concern Over Credit Risks

(Bloomberg) -- The dollar fell the most in almost
three weeks against the euro as a rebound in U.S. stocks eased
concern over credit risks.

The U.S. currency gained the most last week since January as
subprime losses encouraged investors to avoid riskier assets. The
Standard & Poor's 500 Index rose from its steepest weekly decline
since September 2002. Treasuries fell amid reduced need for the
safety of government debt.


Read more at Bloomberg Currencies News

CommScope quarterly profit up on bandwidth demand

(Reuters) - Analysts, on average, were looking for earnings per share
of 76 cents on revenue of $505.8 million, according to Reuters
Estimates. In late June, CommScope raised its second-quarter
revenue forecast to $500 million to $510 million, from $490
million to $510 million.




CommScope said last month it plans to buy rival
communications equipment maker Andrew Corp. for about
$2.6 billion in a bid to cut manufacturing costs and strengthen
its position with service provider clients.


Read more at Reuters.com Market News

Oxford Industries quarterly net profit falls

(Reuters) - Consolidated net sales for the fourth quarter were $287.2
million compared with $287.6 million, a year ago.





Read more at Reuters.com Market News

U.S. Treasury raises quarterly borrowing estimate

(Reuters) - "The increase in borrowing is primarily the result of higher outlays, lower net issuance of state and local government series securities and adjustments in quarterly cash balances," Treasury said in an announcement of its anticipated borrowing needs.




During the April-June second quarter, Treasury said it paid down $139 billion, finishing on June 30 with a cash balance of $25 billion. That was $6 billion less than Treasury estimated in April that it would pay down -- a difference it said was "primarily the result of slightly lower receipts."


Read more at Reuters.com Business News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Last Week

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum suggested that a rally that sent yields
to the lowest since May 17 was poised to stall. U.S. government
debt last week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.
Treasury volatility was near the highest since March 2005.


Read more at Bloomberg Bonds News

UPDATE 3-U.S. foreclosures jump, trending higher-RealtyTrac

(Reuters) - Foreclosure filings in the first half spiked from the same
period last year to 925,986 as many overstretched borrowers
have been caught between rising interest rates and falling home
prices. The Federal Reserve has cited the faltering housing
market as the biggest risk to economic growth.




The foreclosure filings were also up more than 30 percent
from the previous six-month period, at a rate of one filing for
every 134 U.S. households, said RealtyTrac, an online
marketplace for foreclosure properties.


Read more at Reuters.com Economic News

Bobcat to stay on in North Dakota-governor

(Reuters) - Earlier, the state's U.S. senators, Democrats Byron Dorgan
and Kent Conrad, said they would meet with representatives of
Doosan next week.




Dorgan said in a statement he was "concerned about the risk
of U.S. manufacturing being moved to low-wage manufacturing
facilities in Asian countries."


Read more at Reuters.com Bonds News

UPDATE 3-Jarden profit rises, but shares fall on view

(Reuters) - NEW YORK, July 30 - Small appliance and consumer
goods maker Jarden Corp. said on Monday its quarterly
profit rose on strong sales but issued a cautious outlook for
the rest of the year, sending shares down over 7 percent.




While Jarden did not lower any of its specific outlook
numbers, it will be "somewhat cautious" for the rest of the
year and not "... overly aggressive on inventory positions and
things like that" due to weaker consumer spending, Chief
Executive Martin Franklin said on a conference call.


Read more at Reuters.com Mergers News

US STOCKS-S&P, Nasdaq gain 1 pct as financials, energy advance

(Reuters) - The Dow Jones industrial average was up 124.78
points, or 0.94 percent, at 13,390.25. The Standard & Poor's
500 Index was up 18.22 points, or 1.25 percent, at
1,477.17. The Nasdaq Composite Index was up 28.54
points, or 1.11 percent, at 2,590.78.




Read more at Reuters.com Bonds News

Copper Gains as Dollar Drops, Making Metal Priced in U.S. Currency Cheaper

(Bloomberg) -- Copper rose more than 1 percent in
New York on speculation that a weaker dollar will encourage
buyers holding other currencies to purchase the metal.

The dollar dropped the most in more than two weeks against
the euro. A change in exchange rates makes copper, traded in
dollars, more or less expensive for buyers using other
currencies. The metal has gained 25 percent this year, while the
dollar is down 3.7 percent against the euro.


Read more at Bloomberg Commodities News

Critics of new Alaska oil tax call for revamp

(Reuters) - Some Alaska lawmakers say the tax system, which charges against the net profits oil companies make in Alaska instead of their overall production, cheats the state out of around $1 billion per year and may have been the product of corruption.




"This issue is also one of sovereignty," said state Rep. Les Gara, an Anchorage Democrat and longtime critic of the new tax system. "By letting the companies manipulate their profit numbers, you let them control the amount they can skate on in terms of tax payments."


Read more at Reuters.com Bonds News

Treasuries Decline Most in Two Weeks as U.S. Stocks Rebound From Sell-Off

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum shows 10-year note yields were poised
to rise after dropping more than half a percentage point since
peaking at 5.327 percent on June 13. U.S. government debt last
week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy.


Read more at Bloomberg Bonds News

Coffee Rises in New York on Forecasts for Cold in Brazil's Growing Areas

(Bloomberg) -- Coffee rose in New York on
speculation that colder-than-normal weather in Brazil, the
world's largest producer, may develop into a crop-damaging
frost.

Temperatures may fall to 42 degrees Fahrenheit (6 degrees
Celsius) through Aug. 1 in Brazil's major coffee-growing
regions, according to Meteorlogix LLC in Woburn, Massachusetts.
Cold air moved into the coffee belt today, and a separate high-
pressure ridge may bring lower-than-normal temperatures into
southern Brazil on Aug. 5, the private forecaster said.


Read more at Bloomberg Commodities News

Tyson posts quarterly profit, raises outlook

(Reuters) - CHICAGO, July 30 - Meat company Tyson Foods Inc. on Monday reported a higher-than-expected quarterly profit and raised its earning estimate for the fiscal year.



For the third quarter ended on June 30, Tyson earned $111 million, or 31 cents per share, compared with a year-earlier loss of $52 million, or 15 cents per share.


Read more at Reuters.com Market News

GMAC posts smaller profit as ResCap weighs

(Reuters) - Its Residential Capital LLC unit posted a net loss of $254
million, compared with a profit of $548 million a year earlier.
Year-earlier results included a $259 million one-time gain.




GM last November sold a 51 percent stake in GMAC for $14
billion to a group led by private equity firm Cerberus Capital
Management. The automaker kept the remaining 49 percent.


Read more at Reuters.com Bonds News

Mexican stocks extend gains, America Movil leads

(Reuters) - The benchmark IPC stock index surged 2.50 percent to
30,989 points and the peso currency was stable
at 10.963 per dollar.




In debt trading, the price of the benchmark government
10-year peso bond rose 0.247 points to bid 101.648,
with a yield of 7.73 percent.


Read more at Reuters.com Bonds News

Wheat Futures Decline as Spring Harvest Gets Under Way in Northern Plains

(Bloomberg) -- Wheat fell the most in two weeks in
Chicago as U.S. farmers begin harvesting a spring crop that may
yield more bushels than normal.

About 2 percent of spring wheat, grown mostly in the
northern Great Plains including North Dakota and Minnesota, was
harvested as of July 22. The government will update that figure
today. Some fields may yield as much as 95 bushels an acre, or
almost three times the five-year average, said Vince Boddicker,
manager of Farmers Trading Co. in Mitchell, South Dakota.


Read more at Bloomberg Commodities News

Currency Option Volatility Edges Higher as Credit Risk Measures Increase

(Bloomberg) -- Option volatility on most major
exchange rates edged higher as investors demand safer assets and
indicators of corporate bond risk surged.

The perceived risk of owning European corporate bonds
soared to the highest in at least three years after Germany's
IKB Deutsche Industriebank AG reported losses on U.S. subprime
mortgages, credit-default swap prices show.


Read more at Bloomberg Currencies News

TREASURIES-Bonds slip to session lows as stocks rise

(Reuters) - The Dow Jones industrial average rose 0.4 percent.




Read more at Reuters.com Bonds News

Soybeans Rise in Chicago on Risk Fungal Disease May Threaten Midwest Crops

(Bloomberg) -- Soybean prices in Chicago rose on
speculation a deadly fungus threatens to spread into the
Midwest, damaging the second-biggest U.S. crop.

Asian soybean rust was confirmed last week in two counties
in southern Oklahoma, the most northern infestation of the
disease, which can destroy as much as 80 percent of infected
fields. Iowa State University said in a report last week there
is a 40 percent chance in the next 30 days that the fungus will
reach Iowa, the biggest grower.


Read more at Bloomberg Commodities News

UPDATE 3-Verizon quarterly net rises but margins disappoint

(Reuters) - NEW YORK, July 30 - Verizon Communications Inc. said on Monday its second-quarter profit rose, helped by growth in wireless and high-speed Internet subscribers.



The No. 2 U.S. phone company said net profit rose 4.5 percent to $1.68 billion, or 58 cents per share, from $1.61 billion, or 55 cents per share, a year earlier.


Read more at Reuters.com Mergers News

U.S. online help-wanted ads fall in July: report

(Reuters) - A year ago, the figure was 3.41 million.




"The monthly decline in July in large part reflects the July 4th holiday week when ad volume dropped," said Gad Levanon, economist at the Conference Board.


Read more at Reuters.com Economic News

Chile retail sales accelerate to 6.5 pct in June

(Reuters) - "The result, which implies an acceleration in the growth
rate and in retail sales, is associated with strength in
consumer spending and sustained growth."




CNC said despite the pickup, growth in the first half of
the year was below that of last year's 3.5 percent


Read more at Reuters.com Economic News

Canada homeowners less sensitive to rates-study

(Reuters) - "Recent financial innovation is playing a prominent role in
redefining the consumer and housing cycle in Canada and thereby
making the Bank of Canada's job more difficult," Derek Holt,
assistant chief economist at RBC, wrote in the report.




Ottawa began deregulating the mortgage insurance market
last year -- a latecomer to the process compared to other
countries. In June 2006, the national housing agency began
offering mortgage insurance for interest-only loans and for
amortizations of up to 35 years. Bank of Canada Governor David
Dodge initially opposed the changes, saying they could drive up
prices further in the already overheated housing market.


Read more at Reuters.com Bonds News

Hedge fund Citadel takes over Sowood's credit fund

(Reuters) - Sowood, which managed roughly $3 billion for prominent
clients such as Harvard University, lost 8 percent in July and
5 percent in June, leaving the Boston-based hedge fund with
losses of 10 percent, a person familiar with the fund's
operations told Reuters on Friday.




Read more at Reuters.com Bonds News

Union ratifies deal needed for Goodyear unit sale

(Reuters) - The union said local members at four plants accepted the agreement last week and the main union resolved remaining issues with Carlyle over the weekend related to establishing a secure trust for retiree health care.



The contract runs five years and is similar to a deal the union reached with Goodyear before the tiremaker agreed to sell the unit to Carlyle for $1.48 billion. Goodyear has said it expects to complete the sale in the third quarter.


Read more at Reuters.com Mergers News

Deripaska company says not bidding for Ford brands

(Reuters) - "There is no interest from my company or from our subsidiary
Gaz in any of these brands," said a spokesman for Russian
Machines, the engineering and automotive arm of Deripaska's
Basic Element group, on Monday.




The comment came as some potential bidders that had
expressed interest in the units earlier in July start several
weeks of due diligence.


Read more at Reuters.com Mergers News

European Chemical Stocks Gain, Led by Imperial Chemicals; UBS, 3i Slide

(Bloomberg) -- European chemical stocks rose after
Imperial Chemical Industries Plc rejected a sweetened bid from
Akzo Nobel NV and Linde AG, the largest maker of industrial
gases, reported earnings that topped analysts' estimates.

UBS AG and 3i Group Plc led declines by financial companies
after IKB Deutsche Industriebank AG of Germany said profit will
be ``significantly'' lower than forecast, hit by the U.S.
subprime mortgage rout.


Read more at Bloomberg Stocks News

RadioShack posts profit but sales weaken

(Reuters) - Sales fell 15 percent to $934.8 million, short of analysts' estimates of $983.6 million. Sales at stores open at least a year, a key measure of retail performance, dropped 8.9 percent. RadioShack cited weaker wireless sales and the closure of 481 stores in 2006.




"The wireless business is actually doing very well in general for the wireless carriers" such as Cingular, Fitch's Co said. "RadioShack can't seem to attract the customers into the stores to sign up."


Read more at Reuters.com Business News

UPDATE 1-Charles Evans to replace Moskow at Chicago Fed

(Reuters) - Evans, 49, becomes the ninth Chicago Fed president. He
succeeds Michael Moskow, who is retiring on Aug. 31.




Evans will vote on U.S. interest-rate policy at the final
three Federal Open Market Committee meetings of 2007.


Read more at Reuters.com Bonds News

Lone Star extends tender offer for Accredited Home

(Reuters) - NEW YORK, July 30 - Private equity firm Lone Star, which agreed to acquire Accredited Home Lenders Holding Co. in June, said on Monday it was extending its tender offer by 10 business days for all outstanding shares of the struggling subprime mortgage lender's common stock.



The date has been extended till Aug. 14 because Accredited Home had not obtained regulatory approvals required to close the tender offer by the previous deadline of July 27, Lone Star said.


Read more at Reuters.com Government Filings News

Oliver Press picks up 12 pct in Emageon, seeks strategic options

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




Shares of Birmingham, Alabama-based Emageon were trading up
2.5 percent at $9.05 in late morning trade on the Nasdaq.



Read more at Reuters.com Mergers News

CORRECTED-(OFFICIAL)-Fitch release on Doral Financial

(Reuters) - July 20 - Fitch Ratings has affirmed and removed all of
Doral Financial Corporation's ratings from Rating
Watch Negative and DRL's Rating Outlook is Positive. Fitch
currently rates DRL's long-term Issuer Default Rating
'CCC'. The Support Rating Floor for DRL and its principal
subsidiary remains unchanged at No Floor . Please see a
complete list of affected ratings at the end of this release.




DRL's Positive Rating Outlook is driven by the closing of
the equity sale and the payment of a significant impending debt
maturity. On July 19, DRL announced that it had received all
regulatory approvals and closed the equity sale of a 90% stake
to Bear Stearns Merchant Banking for $610 million. In addition,
DRL announced today that they have paid the impending $625
million debt maturity.


Read more at Reuters.com Bonds News

European Carbon Emissions Permits Climb After Rise in German Power Prices

(Bloomberg) -- European Union carbon dioxide
permits rose to the highest in almost three weeks, following
rising energy prices including German electricity.

Permits for December 2008 gained for a fifth day, climbing
as much as 50 cents, or 2.5 percent, to 20.80 euros ($28.43) a
metric ton on the European Climate Exchange in Amsterdam. They
traded at 20.65 euros at 3:23 p.m. local time.


Read more at Bloomberg Energy News

Berkshire Hills sees earnings below estimates

(Reuters) - Shares of the company were down almost 2 percent at $27.43 in morning trade on the Nasdaq.







Read more at Reuters.com Business News

Libya sees enhanced oil round - Gaddafi son

(Reuters) - Libya plans an enhanced oil recovery round to develop its output, Libyan leader Muammar Gaddafi's son Saif al-islam said on Monday, referring to a investment opportunity long sought by Western multinationals.

"We are now ready to launch ...another round for enhanced recovery also -- that's a new one," Saif al-Islam told Reuters in an interview during a visit to France.


Read more at Reuters Africa

Treasuries Fall as Yields Near Lowest in Two Months Fail to Attract Buyers

(Bloomberg) -- Treasuries declined as 10-year note
yields near the lowest level in more than two months failed to
attract buyers.

A gauge of momentum shows 10-year yields are poised to rise
after dropping more than half a percentage point since peaking
at 5.327 percent on June 13. U.S. government debt rose last week
for a third straight week on bets rising defaults on home loans
to people with poor credit histories will hurt the economy.


Read more at Bloomberg Bonds News

UPDATE 5-Nippon Steel, JFE report strong Q1 profit gains

(Reuters) - TOKYO, July 30 - Nippon Steel Corp and
JFE Holdings Inc. on Monday booked strong quarterly
profits on higher prices, raising prospects Japan's top two
steel makers' earnings could gain further momentum this year.




But high raw materials and depreciation costs look to limit
growth at Sumitomo Metal Industries Ltd. and Kobe Steel
Ltd., which rely less on booming car sheet production
than the bigger two rivals.


Read more at Reuters.com Market News

Pound Falls Against Euro, Pares Gains Versus Yen on Carry Trade Unwinding

(Bloomberg) -- The pound declined to a two-week low
against the euro and traded near the weakest versus the yen in
almost two months on speculation investors will unwind carry
trades after the risk of holding corporate debt surged.

The U.K. currency has dropped more than 3 percent against
the yen in July, heading for its biggest monthly decline since
August 2006. Widening losses on securities backed by subprime
mortgages prompted traders to reduce investment in high-yielding
currencies such as the pound using funds borrowed in Japan. U.K.
interest rates are the highest among Group of Seven economies.


Read more at Bloomberg Currencies News

US STOCKS-Indexes rise after last week's sell-off

(Reuters) - The Dow Jones industrial average was up 43.09
points, or 0.32 percent, at 13,308.56. The Standard & Poor's
500 Index was up 4.69 points, or 0.32 percent, at
1,463.64. The Nasdaq Composite Index was up 8.45
points, or 0.33 percent, at 2,570.69.




Read more at Reuters.com Bonds News

New York Mortgage confirms trust preferred dividend payment

(Reuters) - The real estate investment trust said it has no outstanding warehouse lines, and it exited the mortgage lending business in March.



On July 3, the company had said it will not pay a dividend in the second quarter.


Read more at Reuters.com Bonds News

FTSE 100 Index Stocks Advance, Led by HSBC, Imperial Chemicals, Vedanta

(Bloomberg) -- U.K. stocks rose for the first time
in five days, led by HSBC Holdings Plc after Europe's largest
bank reported profit that topped analysts' estimates.

Imperial Chemicals Industries Plc also gained, while BHP
Billiton Ltd. led shares of mining companies higher.


Read more at Bloomberg Stocks News

UPDATE 2-KPN to buy Getronics for $1 bln, core profit flat

(Reuters) - AMSTERDAM, July 30 - Telecoms group KPN
agreed to buy struggling information technology services company
Getronics for 766 million euros , making it
the Dutch market leader in IT services.




KPN , which also beat analysts' expectations by
posting flat second-quarter core earnings on Monday, said the
cash takeover offer at 6.25 euros per Getronics share was part
of a strategy to move from providing communications links to
more value-added services in the business market.


Read more at Reuters.com Bonds News

Europe Government Bonds Slide on Speculation ECB to Indicate Higher Rates

(Bloomberg) -- European bonds fell on speculation
the European Central Bank will this week reiterate its preference
for higher interest rates as economic growth in the region
maintains momentum.

Ten-year German bunds, Europe's benchmark, declined for the
first day in five on speculation policy makers will leave rates
at a six-year high of 4 percent at their Aug. 3 meeting and
signal increases are likely by year-end. Debt also slid on views
the longest weekly rally since March last week drove yields too
low for the outlook for borrowing costs.


Read more at Bloomberg Bonds News

M'bishi Motors swings to first Q1 profit in 5 yrs

(Reuters) - Net loss nearly halved to 8.23 billion from 15.11 billion yen, as revenue jumped 30 percent to 630.79 billion yen, aided by a 6-yen rise in the dollar and 18-yen rise in the euro.



But the Tokyo-based automaker kept its interim and annual forecasts unchanged citing risks from rising commodity prices and other unknowns.


Read more at Reuters.com Market News

European Stocks Advance, Led by Imperial Chemicals, Linde; IKB Tumbles

(Bloomberg) -- European stocks rose for the first
time in five days, led by Imperial Chemical Industries Plc after
the company rejected a bid from Dutch rival Akzo Nobel NV.

Linde AG, the world's largest maker of industrial gases,
also gained after reporting earnings that topped analysts'
estimates. BHP Billiton Ltd. and Rio Tinto Group led mining
shares higher as copper increased.


Read more at Bloomberg Stocks News

Platinum Futures Fall Daily Limit in Tokyo on Rising Yen, Demand Concern

(Bloomberg) -- Platinum futures in Tokyo declined
by the daily limit to a two-month low as a rising yen against
the dollar reduced the value of yen-denominated futures, and
amid concern that platinum usage in autocatalysts may decline.

The yen rose to the highest in more than three months
versus the dollar on July 27 as a fall in stocks caused traders
to repay Japanese currency loans used to fund high-yielding
investments.


Read more at Bloomberg Commodities News

UPDATE 1-KPN to bid for Getronics, reports Q2 results

(Reuters) - KPN will spend an additional 415 million euros on buying
back Getronics' outstanding convertible bonds maturing in 2008,
2010 and 2014 as well as preference shares, Chief Financial
Officer Marcel Smits said.




KPN, which also announced second quarter results early, said
the takeover, unanimously supported by Getronics' management and
supervisory boards, was part of its strategy to move from
providing communications links to more value-added services.


Read more at Reuters.com Mergers News

Rand steady; eyes equities, euro

(Reuters) - South Africa's rand firmed against the dollar on Monday and looked set to take direction from equities and the euro, traders said.

At 0638 GMT, the rand stood at 7.09 versus the dollar, about 0.3 percent firmer than its New York close of 7.1125 on Friday. Traders said the local unit would probably trade in the 7.02 - 7.13 range in the session.


Read more at Reuters Africa

European stocks tick up in early trade; miners help

(Reuters) - European stocks rose in early trade on Monday as gains in miners and chemicals group ICI offset fears over the impact of a credit crunch on liquidity and mergers and acquisitions.

BHP Billiton gained 2.1 percent and Rio Tinto rose 1.5 percent, helped by gains in Australian trading.


Read more at Reuters Africa

U.K. Stocks Rise for First Time in Five Days; ICI, BHP Billiton Pace Gains

(Bloomberg) -- U.K. stocks rose for the first time
in five days. Imperial Chemical Industries Plc and BHP Billiton
Ltd. paced the advance.

The benchmark FTSE 100 Index added 12.9, or 0.2 percent, to
6228.1 at 8:30 a.m. in London. The FTSE All-Share Index gained
0.3 percent to 3218.95. Ireland's ISEQ Index rallied 0.3 percent
to 8378.62.


Read more at Bloomberg Stocks News

Kookmin Bank's Second-Quarter Profit Plunges to $256 Million on Back Taxes

(Bloomberg) -- Kookmin Bank, South Korea's largest,
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.

Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.


Read more at Bloomberg Emerging Markets News

U.S. Treasuries Decline as Rebound in Global Stocks Dims Allure of Debt

(Bloomberg) -- U.S. 10-year Treasuries fell for the
first time in a week as a rebound in global stock markets reduced
the appeal of fixed-income securities.

Treasuries declined as Asian shares rebounded from a slump
after higher profits at Japanese companies helped ease concerns a
U.S. housing slowdown would crimp the economy. U.S. notes snapped
four days of gains that had been driven by investors seeking the
relative safety of government debt as equity markets dropped.


Read more at Bloomberg Bonds News

Insurer Beazley makes record H1 pretax profit

(Reuters) - It made 60.2 million pounds in the first six months of this year, more than double its profit of 28.3 million pounds during the same period last year.



Its profits were boosted by 25.2 million pounds released from reserves that were no longer needed to pay claims, more than double the amount it released from reserves during the first half of 2006.


Read more at Reuters.com Market News

UPDATE 1-India's i-flex Q1 net up, but firm rupee weighs

(Reuters) - BANGALORE, July 30 - India's i-flex solutions
ltd. said on Monday its April-June net profit rose
4.6 percent, as the banking software maker gained from rising
orders, but a strong rupee was a concern.
The company, majority owned by U.S. business software firm
Oracle Corp. , was winning large deals from banks
looking to cut costs, Chief Financial Officer Makarand Padalkar
said.




"The business momentum is very, very strong, both on our
strength and Oracle's. There are number of large engagements
which are in progress," Padalkar told Reuters in a telephone
interview from the company's Mumbai headquarters.


Read more at Reuters.com Market News