Manufacturing growth is stronger in June: ISM

(Reuters) - The June reading was the survey's highest since April of 2006 and the report reinforced the view that economic growth was recovering after nearly stalling in the first quarter.




"We continue to see a rebound in growth in the second half," said Don Kowalchik, debt strategist at A.G. Edwards & Sons in St Louis, Missouri.


Read more at Reuters.com Economic News

Emerging-Market Bonds Gain as Investors' Interest in Risky Assets Returns

(Bloomberg) -- Emerging-market bond demand
increased, led by Ecuador and Venezuela securities, reflecting
greater investor willingness to accept risk.

Developing nations' bonds are rebounding from losses last
week, when concern about contagion from the U.S. subprime
mortgage market slump triggered aversion to high-risk assets.


Read more at Bloomberg Emerging Markets News

Crude Oil Falls After Refinery Shutdown in Kansas Curbs Petorluem Demand

(Bloomberg) -- Crude oil fell from a 10-month high in
New York as a refinery shutdown in Kansas cut demand.

Coffeyville Resources LLC shut its refinery in Coffeyville,
Kansas, yesterday because of flooding on the Verdigris River,
according to as statement on its Web site. The 108,000-barrel-a-
day refinery can produce about 2.1 million daily gallons of
gasoline.


Read more at Bloomberg Commodities News

US STOCKS-Indexes rise on telecoms takeovers

(Reuters) - NEW YORK, July 2 - U.S. stocks rose on Monday,
boosted by takeover news in the telecommunications sector.




Canada's largest telephone company, BCE Inc
, agreed to a US$32.8 billion buyout, excluding debt,
from a group that includes the Ontario Teachers Pension Plan on
Saturday, in the biggest buyout in Canadian corporate history.
For details, see [ID:nN02315411].


Read more at Reuters.com Bonds News

Indonesian Inflation Slows to Seven-Month Low; Bank May Cut Interest Rate

(Bloomberg) -- Indonesia's inflation eased to a
seven-month low in June, and the pace may encourage the central
bank to cut interest rates further to spur economic growth.

Consumer prices rose 5.8 percent from a year earlier after
gaining 6 percent in May, the Central Statistics Bureau said in
Jakarta today. The median estimate of 16 economists surveyed by
Bloomberg News was for a 5.9 percent increase. Inflation
accelerated to 0.2 percent from a month earlier.


Read more at Bloomberg Emerging Markets News

AirAsia to Order 25 Airbus A320s Planes Valued at $1.8 Billion, People Say

(Bloomberg) -- AirAsia Bhd., Southeast Asia's
largest budget carrier, plans to place an order for 25 single-
aisle planes, valued at $1.8 billion from Airbus SAS, two people
with direct knowledge of the deal said.

AirAsia is converting options for A320 planes that were
part of an order placed in January, said the people, who
declined to be identified before details are made public.


Read more at Bloomberg Emerging Markets News

South Korean Won Rises as Export Growth Quickens; Government Bonds Advance

(Bloomberg) -- South Korea's won had its highest
close since Dec. 14 on speculation growth in Asia's third-
largest economy will accelerate, helped by rising exports.
Government bonds declined.

The won gained for a third day as a government report today
showed exports, which account for about 40 percent of the
economy, grew faster than expected in June. The finance minister
said improving overseas sales will help drive a quicker economic
expansion in the next six months. The currency touched the
highest in almost 10 years against the yen on June 22 and is
trading within 0.3 percent of that level today.


Read more at Bloomberg Currencies News