U.S. Stock-Index Futures Rise; Ford, Merrill Lynch Shares Gain in Europe

(Bloomberg) -- U.S. stock-index futures climbed as
investors speculated last week's losses may have been
exaggerated.

Ford Motor Co. advanced in Europe after the London Times
reported that Jacques Nasser, the company's former chief
executive officer, may visit the Land Rover and Jaguar factories
in the U.K. as part of an attempt to buy the brands. Merrill
Lynch & Co. gained after UBS AG recommended buying shares of the
third-largest U.S. securities firm.


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Putin Favors Ruble Traders Over Oil Profits in Battle Against Inflation

(Bloomberg) -- Russian President Vladimir Putin's
plan to keep inflation from accelerating depends on favoring
foreign-exchange traders over the country's oil and gas
companies.

Putin will probably allow the central bank to double the
ruble's pace of appreciation this year because he has few options
outside the foreign exchange market to rein in consumer prices,
according to strategists at Bank of America Corp. and UBS AG.
Russia's 8.5 percent inflation rate is three times faster than
any other Group of Eight country.


Read more at Bloomberg Emerging Markets 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.


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Barclays gets nod to buy stake in China trust firm

(Reuters) - London-based Barclays Bank Plc will be allowed to buy a nearly 20 percent stake in New China Trust & Investment Co., one of the country's oldest trust firms, after negotiations for more than one year between the two companies, the sources said.




The purchase will make Barclays the first foreign bank with a stake in a Chinese trust firm, while others, including Morgan Stanley and UBS , are still in talks with potential Chinese partners.


Read more at Reuters.com Business News

U.S. Stocks Decline as Oil Rises; SanDisk, Dow Jones & Co. Shares Retreat

(Bloomberg) -- U.S. stocks fell after oil rose
above $74 a barrel, spurring concern higher fuel prices may
hamper consumer spending and corporate profits.

SanDisk Corp., the world's largest maker of flash-memory
cards, declined after UBS AG downgraded the shares. Dow Jones &
Co. retreated after the Wall Street Journal reported that a
member of the publisher's controlling family is trying to block
its' sale to Rupert Murdoch's News Corp.


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U.S. Stock-Index Futures Decline as Oil Rises; SanDisk, Dow Jones Retreat

(Bloomberg) -- U.S. stock-index futures fell after
oil rose above $74 a barrel, spurring concern that higher fuel
prices may hamper consumer spending and corporate profits.

SanDisk Corp., the world's largest maker of flash-memory
cards, declined after UBS AG downgraded the shares. Dow Jones &
Co. retreated after the Wall Street Journal reported that a
member of the publisher's controlling family is trying to block
its' sale to Rupert Murdoch's News Corp.


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UPDATE1-Genpact sees $16-$18/share price band for 35.3 mln IPO

(Reuters) - Genpact is offering about 17.6 million shares in the IPO,
while some stockholders are offering the remaining shares, the
company said in an amended filing with the U.S Securities and
Exchange Commission.




Morgan Stanley, Citigroup, JP Morgan, Wachovia Securities,
Merrill Lynch & Co., Banc of America Securities, Credit Suisse,
Deutsche Bank Securities and UBS Investment Bank were
underwriting the IPO, Bermuda based Genpact said.


Read more at Reuters.com Bonds News

Alcoa, Alumina Advance on Takeover Speculation After Rio's Bid for Alcan

(Bloomberg) -- Shares of Alcoa Inc. and Alumina
Ltd., partners in the world's biggest alumina venture, rose to
records on speculation that Rio Tinto Group's $38.1 billion bid
for Alcan Inc. will spark more aluminum-industry takeovers.

BHP Billiton Ltd. might bid for New York-based Alcoa and
Alumina, UBS AG analysts Glyn Lawcock and Mark Busuttil said in
a report yesterday. Alcoa also may try to buy Melbourne-based
Alumina, which owns 40 percent of the Alcoa World Alumina &
Chemical joint venture, the analysts said.


Read more at Bloomberg Commodities News

US STOCKS-Indexes gain amid optimism about earnings

(Reuters) - NEW YORK, July 11 - U.S. stocks rose on
Wednesday as a scarcity of profit warnings fueled optimism
over the corporate reporting season, enabling the market to
regain its footing after a sharp drop the previous session.




Shares of fast-food company Yum Brands , which
reported quarterly results after the bell, jumped 4.9 percent
during the regular session following news that investment bank
UBS had raised its rating on the stock.


Read more at Reuters.com Bonds News

U.S. Stocks Rebound on Takeovers; Yum!, Steelmaker Shares Lead Advance

(Bloomberg) -- U.S. stocks rose after takeover
speculation swept through the metals industry and Federal
Reserve officials said the economy will weather the home loan
crisis.

Nucor Corp. and Alcoa Inc. led the Standard & Poor's 500
Index to its sixth gain in seven days after Chaparral Steel Co.
agreed to be bought for $4.22 billion and the Times of London
reported Alcan Inc. may be the target of a bidding war. Yum!
Brands Inc., owner of the Pizza Hut and Taco Bell chains,
climbed on a UBS AG report predicting it will buy back stock.


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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

Crude Oil Rises to 10-Month High on Tightening Year-End Supply Outlook

(Bloomberg) -- Crude oil rose to a 10-month high on
speculation inventories will decline as demand increases later in
the year.

UBS AG, Europe's largest bank by assets, raised its 2007
forecast for West Texas Intermediate by 6.5 percent to $65 a
barrel from $61 because of low inventories and strong demand. Oil
use peaks in the fourth quarter, when refiners make heating fuel
for the Northern Hemisphere winter. Gasoline consumption in the
U.S., the world's biggest oil user, usually rises in summer.


Read more at Bloomberg Commodities News

AMB, Centennial, ECI, New York Times, Schwab, Vornado: 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 1:10 p.m. New York time.

Real estate investment trusts advanced after UBS AG said the
stocks may jump 21 percent as a group in the next 12 months and
Merrill Lynch & Co. upgraded Vornado Realty Trust (VNO US).


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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

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

UPDATE 1-RESEARCH ALERT-UBS cuts MGIC, PMI Group to neutral

(Reuters) - The brokerage downgraded PMI and MGIC to "neutral" from
"buy." UBS also cut its price target on MGIC to $62 from $75
and on PMI to $52 from $56.




UBS now estimates that reserve building would be
substantially greater than its previous forecast, and that it
would reduce earnings and return on earnings through 2008.


Read more at Reuters.com Bonds News

New York Transit Authority, Colorado City Lead U.S. Municipal Borrowers

(Bloomberg) -- New York State's Metropolitan
Transportation Authority and the city of Aurora, Colorado, will
borrow more than $800 million combined in today's largest sales
of U.S. state and local government bonds.

The Metropolitan Transportation Authority, operator of the
largest U.S. public transit network, will sell $425 million of
bonds in a deal managed by UBS AG. Aurora, Colorado's third
most-populous city, will offer $426 million of debt with
JPMorgan Chase & Co. tapped to manage the sale.


Read more at Bloomberg Bonds News

UPDATE 1-TravelCenters of America plans to offer 4 mln shares

(Reuters) - The hospitality and fuel services provider said UBS
Investment Bank and Morgan Stanley are the joint book running
managers for this offering.




The company said it plans to offer a 30-day option to
underwriters to purchase up to an additional 600,000 shares to
cover over allotments.


Read more at Reuters.com Government Filings News

European Stocks Decline on Ifo Report; Arcelor, Julius Baer, Barclays Fall

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June.

Arcelor Mittal led metal producers lower after the world's
largest steelmaker said demand may slow. Julius Baer Holding AG
declined the most in a year after UBS AG sold its stake in the
Swiss Bank. Deutsche Bank AG and Barclays Plc paced a retreat by
banks on concern losses in the U.S. mortgage market may grow.


Read more at Bloomberg Stocks News

European Stocks Decline on Ifo Report; Vinci, DaimlerChrysler Fall

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June, adding to signs that growth in Europe's largest
economy may slow.

Vinci SA, the world's biggest construction company, and
German carmaker DaimlerChrysler AG led the retreat. Julius Baer
Holding AG declined the most in a year after UBS AG sold part of
its stake in the Swiss Bank, thwarting takeover speculation.
Infineon Technologies AG slid after Merrill Lynch & Co. lowered
its recommendation for the shares.


Read more at Bloomberg Stocks News