UPDATE 1-Colombia to invest $11.8 bln in '08 public programs

(Reuters) - Higher social and military spending will soak up the
increase in expenditure as the Andean country tries to cut
poverty and beat back leftist rebels fighting a four-decade-old
insurgency.





Read more at Reuters.com Bonds News

US STOCKS-Indexes jump on robust retail sales and Alcoa

(Reuters) - NEW YORK, July 12 - U.S. stocks surged on
Thursday, lifting the Dow to a record, as
stronger-than-expected retail sales and takeover speculation
fueled optimism about the economy.




Shares of Alcoa Inc. rose 6.3 percent to $45.10
after climbing to an all-time high of $46.15. Rio Tinto
Ltd/Plc , the Anglo-Australian mining company,
agreed to buy Alcan Inc. , the Canadian aluminum
producer, for $38.1 billion, topping Alcoa's bid.
[ID:nL12644704] Analysts said Alcoa could now be a takeover
target.


Read more at Reuters.com Bonds News

Lazard shares jump on takeover chatter

(Reuters) - Options giving investors the right to buy Lazard this month at $55 calls were active. July option implied volatility is at 46, compared with its 26-week average of 35. That indicates investors believe Lazard shares will move sharply.




Paul Foster, options strategist at Web information site theflyonthewall.com in Chicago, said upside July calls were active on "renewed chatter" in the options market about a deal.


Read more at Reuters.com Hot Stocks News

Oil Falls on Report BP Is Starting Unit at Refinery in Whiting, Indiana

(Bloomberg) -- Crude oil and gasoline fell in New
York on a report BP Plc will begin startup today of a unit at
its Whiting, Indiana, refinery, the biggest in the Midwest.

The 235,000 barrel-a-day crude unit, which was shut July 9
for unplanned maintenance, is expected to be at full rates by
next week, a person familiar with the plant's status said. The
refinery can normally process more than 400,000 barrels of oil a
day. The unit had been expected to start up this weekend.


Read more at Bloomberg Energy News

Cubic, Flow, ImClone, PFF Bancorp, Sify, Wal-Mart: 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 11:40 a.m. New York time.

Abercrombie & Fitch Co. (ANF US) rose $5.07, or 7.3 percent,
to $74.45. The clothing retailer for teens and college said June
comparable store sales rose 2 percent from a year earlier.
Analysts had estimated sales to fall 2.8 percent, according to a
report from Retail Metrics LLC.


Read more at Bloomberg Stocks News

Egyptian shares edge down on profit taking

(Reuters) - Egypt's two main indexes dipped on Thursday for the second consecutive session as investors harvested the week's earlier gains in blue-chips led by Orascom Construction Industries, traders said.

"Investors were tempted to collect their money after the record highs witnessed by the market lately. On top of the list of this profit taking wave came Orascom Construction, which led the market up before and now took it down," said Mohamed Choukri of Trust Group for Securities.


Read more at Reuters Africa

Corn Rises to One-Week High as Hotter Weather Threatens Biggest U.S. Crop

(Bloomberg) -- Corn in Chicago rose to the highest
in more than a week on forecasts for expanding drought
conditions that may harm the biggest U.S. crop while plants are
reproducing.

Crops west of the Mississippi River may face increased
stress as the hottest, driest weather since at least 1995 starts
July 18 and extends into August, said Fred Gesser, senior global
meteorologist for Planalytics Inc. in Wayne, Pennsylvania.
Temperatures may reach 102 degrees Fahrenheit (39 Celsius)
beginning July 22, Gesser said.


Read more at Bloomberg Commodities News