Asian Stocks Climb, Paced by Caltex, Mitsui; Mitsubishi Estate Declines

(Bloomberg) -- Asian stocks advanced for a third day,
led by energy-related shares, after declining U.S. fuel stockpiles
and attempted car bombings in the U.K. lifted the price of crude.

Caltex Australia Ltd., the nation's biggest oil refiner, rose
the most in two weeks. Mitsui & Co., a Japanese trading company
that generated about a sixth of last year's revenue from energy,
jumped by more than 3 percent for a second straight day.


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JGBs fall before auction, little help from tankan

(Reuters) - An initial fall in Tokyo share prices also lent support to
JGBs but the gains proved fleeting, as the tankan kept intact
market expectations for the BOJ to raise interest rates to 0.75
percent from 0.50 percent, perhaps as early as next month.




"It was mixed overall. While it won't justify a rate rise in
July, the chances seem higher that there will be a rate rise in
August," said Mitsumaru Kumagai, chief JGB strategist for Merrill
Lynch.


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ING buys back 5.55 pct of own shares from Fortis

(Reuters) - The share purchase, representing about 5.55 percent of ING's
share capital, is unrelated to ING's ongoing share buyback
programme.




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Gold steady as security, inflation fears support

(Reuters) - Gold was steady on Monday, with support coming from renewed security and inflation worries, while yen-based gold inched up to its highest since last Tuesday.

Spot gold stood at $649.50/651.00 an ounce at 0311 GMT, versus $648.70/$650.20 in late New York.


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Bear Stearns to add up fund losses by July 16: report

(Reuters) - Investors are keen to see how far the assets have fallen,
since they believe other hedge funds are also holding
mortgage-related securities, the report added.




A Bear Stearns spokeswoman was not immediately available for
comment.


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U.K. Pound May Hold Above $2 Before House Price Data, BOE's Rate Decision

(Bloomberg) -- The pound may hold above $2 ahead of
the Bank of England's interest-rate decision and before data that
will probably show four increases in borrowing costs since August
haven't crimped house-price growth.

Policy makers will decide on interest rates July 5, and
economists surveyed by Bloomberg News expect them to lift the
benchmark rate a quarter-point to 5.75 percent. The U.K.'s
biggest mortgage lender HBOS Plc will say this week say house-
price growth quickened in the three months through June,
according to economists in a Bloomberg News survey.


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Yen stays weak, tankan bolsters BOJ rate view

(Reuters) - The yen fell against the dollar and euro after the BOJ's quarterly tankan poll came in line with forecasts, but trimmed losses as investors were careful about selling the yen too much ahead of a holiday-shortened week in the United States.




Sterling hit a 2 1/2-month high versus the dollar at $2.01, inching near a 26-year high before the Bank of England holds a policy meeting later in the week, when it is expected to lift rates by 25 basis points to 5.75 percent.


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