(Bloomberg) -- European stocks may rise after earnings from European Aeronautic, Defence & Space Co., UniCredit SpA and Societe Generale SA topped analysts' estimates.
``The good earnings coming in now justify gains,'' said Klaus Stabel, head of research at ICF Kursmakler AG in Frankfurt.
Read more at Bloomberg Stocks News
Wednesday, May 9, 2007
Rio Tinto recoils as BHP bid a no-show
(Reuters) - Rio Tinto was down 2.7 percent to A$92.88 in afternoon trading after surging to a record high on Wednesday when the rumor sparked a dash for Rio stock. BHP dipped 0.25 percent to A$31.85.
"I think it's normal market reaction. It was just one of those market rumors that can run hot and cold," said Greg Goodsell, equity strategist at ABN AMRO.
Read more at Reuters.com Business News
"I think it's normal market reaction. It was just one of those market rumors that can run hot and cold," said Greg Goodsell, equity strategist at ABN AMRO.
Read more at Reuters.com Business News
Asian Stocks Drop, Led by Toyota on Profit Forecast; Rio Tinto, BHP Fall
(Bloomberg) -- Asian stocks fell from a record, led by Japanese automakers, after Toyota Motor Corp. predicted its smallest profit increase in a decade.
Toyota, which last month posted its first drop in U.S. sales in two years, slid to a five-month low. An index of consumer- goods companies including carmakers was the biggest drag on the Morgan Stanley Capital International Asia-Pacific Index.
Read more at Bloomberg Stocks News
Toyota, which last month posted its first drop in U.S. sales in two years, slid to a five-month low. An index of consumer- goods companies including carmakers was the biggest drag on the Morgan Stanley Capital International Asia-Pacific Index.
Read more at Bloomberg Stocks News
Australian Dollar Advances on Employment Data; New Zealand Dollar Rebounds
(Bloomberg) -- The Australian dollar strengthened after a government report showed employment rose four times as much as economists forecast in April. New Zealand's dollar rose from a four-week low on higher-than-expected job creation.
Australia's currency approached last month's 10-year high versus the yen as traders raised bets the Reserve Bank of Australia will lift borrowing costs from 6.25 percent. The yield on two-year government bonds jumped as falling unemployment and surging consumer spending suggest inflation will accelerate.
Read more at Bloomberg Currencies News
Australia's currency approached last month's 10-year high versus the yen as traders raised bets the Reserve Bank of Australia will lift borrowing costs from 6.25 percent. The yield on two-year government bonds jumped as falling unemployment and surging consumer spending suggest inflation will accelerate.
Read more at Bloomberg Currencies News
Fed Chairman Bernanke Earns Inflation `Stripes' With Tough Stand on Prices
(Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, unshaken by the weakest economic growth in four years, is giving no quarter to inflation.
The Fed's Open Market Committee yesterday repeated its assessment from March 21 that persistent inflation remains the ``predominant policy concern.'' The central bank held its main interest rate at 5.25 percent, the level it's been at since June.
Read more at Bloomberg Currencies News
The Fed's Open Market Committee yesterday repeated its assessment from March 21 that persistent inflation remains the ``predominant policy concern.'' The central bank held its main interest rate at 5.25 percent, the level it's been at since June.
Read more at Bloomberg Currencies News
CGGVeritas Q1 profits rise, ups synergies target
(Reuters) - The world's biggest listed provider of seismic surveys, which are used to make detailed maps of potentially oil-bearing deposits, generated an operating profit of $188.3 million in the three months to March 31.
Revenues came in at $777.3 million, up from $639.4, and net profit for the quarter was $90.5 million, up 186.4 percent year on year, CGGVeritas said.
Read more at Reuters.com Market News
Revenues came in at $777.3 million, up from $639.4, and net profit for the quarter was $90.5 million, up 186.4 percent year on year, CGGVeritas said.
Read more at Reuters.com Market News
European Government Bonds May Fall as ECB Expected to Signal Rate Increase
(Bloomberg) -- European government bonds may fall before a meeting of European Central Bank policy makers who will probably signal an increase in interest rates next month after keeping them on hold today.
Benchmark two-year yields are near the highest in five years, and have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent. President Jean-Claude Trichet may repeat the ECB's determination to combat inflation.
Read more at Bloomberg Bonds News
Benchmark two-year yields are near the highest in five years, and have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent. President Jean-Claude Trichet may repeat the ECB's determination to combat inflation.
Read more at Bloomberg Bonds News
Daewoo Motor Sales, Paramount Pictures to Set Up South Korean Theme Park
(Bloomberg) -- Daewoo Motor Sales Corp., a South Korean sales partner of General Motors Corp., plans to set up a theme park with Paramount Pictures Corp. in the Asian country.
About 950 billion won ($1.03 billion) is expected to be invested in the theme park in Incheon, west of Seoul, the company said in a regulatory filing today. Details will be decided after due diligence is completed for the project, it said.
Read more at Bloomberg Emerging Markets News
About 950 billion won ($1.03 billion) is expected to be invested in the theme park in Incheon, west of Seoul, the company said in a regulatory filing today. Details will be decided after due diligence is completed for the project, it said.
Read more at Bloomberg Emerging Markets News
Alaska officials want "tainted" oil tax replaced
(Reuters) - Revelations in the criminal case against executives of Anchorage-based VECO Corp., the state's largest oil-field-service company, and some past and current lawmakers show that the new tax system -- known as the petroleum profits tax, or PPT -- is hopelessly flawed, said some legislators.
"I think we now know it doesn't work, and we now know it's tainted," said state Rep. Les Gara of Anchorage, one of a group of Democratic lawmakers calling for a special legislative session to fix the oil-tax system.
Read more at Reuters.com Bonds News
"I think we now know it doesn't work, and we now know it's tainted," said state Rep. Les Gara of Anchorage, one of a group of Democratic lawmakers calling for a special legislative session to fix the oil-tax system.
Read more at Reuters.com Bonds News
Store costs weigh on Whole Foods profit
(Reuters) - Profit fell to $46 million, or 32 cents per share, in the fiscal second quarter ended April 8, from $51.8 million, or 36 cents per share, a year earlier.
Analysts, on average, expected it to earn 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Government Filings News
Analysts, on average, expected it to earn 36 cents per share, according to Reuters Estimates.
Read more at Reuters.com Government Filings News
TREASURIES-Bonds fall after Fed cites inflation worry
(Reuters) - NEW YORK, May 9 - U.S. government bond prices dropped on Wednesday after the Federal Reserve held interest rates steady and signaled to investors its main concern was that inflation would fail to moderate.
The Fed held the benchmark federal funds rate target unchanged at 5.25 percent as expected. In its accompanying statement, the Federal Open Market Committee said core inflation remained somewhat elevated.
Read more at Reuters.com Bonds News
The Fed held the benchmark federal funds rate target unchanged at 5.25 percent as expected. In its accompanying statement, the Federal Open Market Committee said core inflation remained somewhat elevated.
Read more at Reuters.com Bonds News
Emerging debt-Spreads tighten after Fed decision
(Reuters) - U.S. Treasuries prices declined after the Fed repeated in its post-meeting statement that inflation remains its main concern, frustrating some investors who expected signs of future monetary easing.
The selling did not hit emerging debt markets, however, because the asset class "remains supported by strong investor appetite", said Felipe Brandao, emerging markets director with Arkhe brokerage in Sao Paulo.
Read more at Reuters.com Bonds News
The selling did not hit emerging debt markets, however, because the asset class "remains supported by strong investor appetite", said Felipe Brandao, emerging markets director with Arkhe brokerage in Sao Paulo.
Read more at Reuters.com Bonds News
Whole Foods 2nd-quarter profit falls
(Reuters) - The company, which plans to buy fellow organic grocer Wild Oats Markets Inc. ) Keywords: WHOLEFOODS RESULTS/
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Pharmacyclics CEO confident of Xcytrin approval
(Reuters) - "I'm convinced we'll get Xcytrin approved eventually for something because I believe it's an active drug," Miller said in an interview.
"I think our data shows substantial efficacy and I think if they review it in detail and put it in proper context, bringing in advisors who know the disease, that it should meet that standard" , Miller said.
Read more at Reuters.com Government Filings News
"I think our data shows substantial efficacy and I think if they review it in detail and put it in proper context, bringing in advisors who know the disease, that it should meet that standard" , Miller said.
Read more at Reuters.com Government Filings News
US RATE FUTURES-See a lone rate cut in 2007 after FOMC
(Reuters) - CHICAGO, May 9 - U.S. short-term interest rate futures suggest just a lone rate cut by the Federal Open Market Committee this year after policy-makers ended their meeting with a statement focused on inflation risks.
"The communique looks almost identical to the previous one. Though the Fed feels inflation can moderate, the predominant concern remains inflation," said strategists at 4CAST Ltd.
Read more at Reuters.com Bonds News
"The communique looks almost identical to the previous one. Though the Fed feels inflation can moderate, the predominant concern remains inflation," said strategists at 4CAST Ltd.
Read more at Reuters.com Bonds News
Canada Dollar Drops on Federal Reserve's `Predominant' Inflation Concerns
(Bloomberg) -- Canada's dollar traded lower after the Federal Reserve kept the benchmark U.S. interest rate at 5.25 percent, saying inflation remains the ``predominant'' risk for the economy.
The Canadian dollar has appreciated 5.5 percent against the U.S. dollar this year as the economy strengthened, and the yield difference between Canadian and the U.S. bonds narrowed, favoring local debt.
Read more at Bloomberg Currencies News
The Canadian dollar has appreciated 5.5 percent against the U.S. dollar this year as the economy strengthened, and the yield difference between Canadian and the U.S. bonds narrowed, favoring local debt.
Read more at Bloomberg Currencies News
CDW, Kaman, Somaxon, Toreador, Somaxon, TreeHouse: 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 2:20 p.m. New York time.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
DJ shares fall after Murdoch remarks
(Reuters) - "There's clearly still interest on the part of Mr. Murdoch," Atorino said. "But it sounds like he's in no hurry."
Dow Jones shares traded down 5.3 percent to $52.07 on the New York Stock Exchange, after falling to as low as $51.10.
Read more at Reuters.com Business News
Dow Jones shares traded down 5.3 percent to $52.07 on the New York Stock Exchange, after falling to as low as $51.10.
Read more at Reuters.com Business News
FiberTower, Somaxon, Toreador, TreeHouse, Allscripts: 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.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.80, or 10 percent, to $24.26 and traded as low as $23.48. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
UPDATE 1-Microsoft buys small stake in CareerBuilder.com
(Reuters) - The financial details of the equity stake were not disclosed.
CareerBuilder will pay up to $443 million over seven years under the partnership, which makes it the exclusive job search engine through 2013 on Microsoft's MSN Careers site.
Read more at Reuters.com Mergers News
CareerBuilder will pay up to $443 million over seven years under the partnership, which makes it the exclusive job search engine through 2013 on Microsoft's MSN Careers site.
Read more at Reuters.com Mergers News
U.S. Stocks Rise Before Fed Decision; Financial Shares, OfficeMax Advance
(Bloomberg) -- U.S. stocks rose, erasing an earlier decline, after oil fell and takeover speculation boosted shares of OfficeMax Inc.
The Standard & Poor's 500 Index gained 1.94, or 0.1 percent, to 1509.66 as of 12:55 p.m. in New York, after earlier falling as much as 0.3 percent. Financial shares contributed the most to the advance.
Read more at Bloomberg Stocks News
The Standard & Poor's 500 Index gained 1.94, or 0.1 percent, to 1509.66 as of 12:55 p.m. in New York, after earlier falling as much as 0.3 percent. Financial shares contributed the most to the advance.
Read more at Bloomberg Stocks News
New Century opposes ouster of top executives
(Reuters) - In a filing late on Tuesday with the U.S. bankruptcy court in Wilmington, Delaware, New Century said the request by the U.S. Department of Justice ignores executives' efforts to sell assets fast and wind down the Irvine, California company's business.
U.S. Trustee Kelly Beaudin Stapleton argued in an April 17 court filing that management's failure "to ensure accurate financial accounting and to institute adequate internal controls" mandated the appointment of a trustee.
Read more at Reuters.com Mergers News
U.S. Trustee Kelly Beaudin Stapleton argued in an April 17 court filing that management's failure "to ensure accurate financial accounting and to institute adequate internal controls" mandated the appointment of a trustee.
Read more at Reuters.com Mergers News
Morgan Stanley settles SEC best execution case
(Reuters) - Morgan Stanley settled the SEC's allegations without admitting or denying any wrongdoing and agreed to cease and desist from committing such future violations.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Magna Entertainment ups first-quarter profit
(Reuters) - The company, part of a group headed by Canadian auto parts maker Magna International
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 2-Archstone-Smith 1st-qtr FFO inches higher
(Reuters) - Archstone reported first-quarter funds from operations , a key performance measure for real estate investment trusts , of $250.8 million, or 50 cents per share, up from $247 million, or 59 cents, in the year-earlier quarter.
The results were in line with the company's forecast of 48 to 50 cents per share. But the FFO missed analysts' average forecast of 51 cents per share, according to Reuters Estimates, as higher rental revenue growth was offset by greater interest expense.
Read more at Reuters.com Bonds News
The results were in line with the company's forecast of 48 to 50 cents per share. But the FFO missed analysts' average forecast of 51 cents per share, according to Reuters Estimates, as higher rental revenue growth was offset by greater interest expense.
Read more at Reuters.com Bonds News
Cocoa Rises to 2-Week High on Gain in British Pound, Concern for Supplies
(Bloomberg) -- Cocoa rose to a two-week high in New York as a rally in the British pound spurred buying in London and a smaller crop in Indonesia fueled speculation that production will fall short of rising demand.
A metric ton of cocoa in New York is 9 percent cheaper than on London's Euronext.liffe exchange, where the commodity is traded in pounds. The U.K. currency has jumped 15 percent against the dollar in the past year. Cocoa also got a boost from speculation demand may be smaller than expected.
Read more at Bloomberg Commodities News
A metric ton of cocoa in New York is 9 percent cheaper than on London's Euronext.liffe exchange, where the commodity is traded in pounds. The U.K. currency has jumped 15 percent against the dollar in the past year. Cocoa also got a boost from speculation demand may be smaller than expected.
Read more at Bloomberg Commodities News
Argentina to Sell as Much as $750 Million of 10-Year Bonds in Local Market
(Bloomberg) -- Argentina plans to sell tomorrow as much as $750 million of 10-year dollar bonds in the local market.
The bonds, known as Bonars, will pay an interest rate of 7 percent and mature in April 2017, the Economy Ministry said in a statement.
Read more at Bloomberg Emerging Markets News
The bonds, known as Bonars, will pay an interest rate of 7 percent and mature in April 2017, the Economy Ministry said in a statement.
Read more at Bloomberg Emerging Markets News
Grupo Mexico, Petroleo Brasileiro, Sonda and Unibanco: Latin Equity Movers
(Bloomberg) -- Mexico's main stock index rose for the first day in three, led by copper miner Grupo Mexico SAB.
The Bolsa index rose 118.97, or 0.4 percent, to 29,961.37 at 10:41 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange rose 347.34, or 0.7 percent, to 50,625.03.
Read more at Bloomberg Stocks News
The Bolsa index rose 118.97, or 0.4 percent, to 29,961.37 at 10:41 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange rose 347.34, or 0.7 percent, to 50,625.03.
Read more at Bloomberg Stocks News
Oil Falls After Report of Larger-Than-Expected U.S. Supply Gain Last Week
(Bloomberg) -- Crude oil fell after an Energy Department report showed larger-than-expected gains in U.S. oil and fuel inventories last week.
Crude-oil supplies surged 5.5 million barrels to 341.2 million barrels, leaving stockpiles the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to rise by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
Crude-oil supplies surged 5.5 million barrels to 341.2 million barrels, leaving stockpiles the highest since June, the report showed. Gasoline inventories rose 372,000 barrels to 193.5 million barrels, the first gain in 13 weeks. Crude-oil supplies were expected to rise by 875,000 barrels and gasoline stockpiles by 150,000 barrels, according to a Bloomberg News survey.
Read more at Bloomberg Energy News
South African Shares Advance; Anglo American, BHP Billiton Pace the Gain
(Bloomberg) -- South African shares rose, led by Anglo American Plc and BHP Billiton Ltd., the world's largest mining companies, on takeover speculation.
The FTSE/JSE Africa All Share Index added 177.83, or 0.6 percent, to 28,339.61 at 3:05 p.m. in Johannesburg, as 84 stocks gained, 49 fell and 28 were unchanged.
Read more at Bloomberg Stocks News
The FTSE/JSE Africa All Share Index added 177.83, or 0.6 percent, to 28,339.61 at 3:05 p.m. in Johannesburg, as 84 stocks gained, 49 fell and 28 were unchanged.
Read more at Bloomberg Stocks News
Allscripts, Cisco, Dendreon, Foster Wheeler, Finisar: 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 9:30 a.m. New York time.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $3.06, or 11 percent, to $24 and traded as low as $24. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $3.06, or 11 percent, to $24 and traded as low as $24. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
UPDATE 1-Nordson warns Q2 results to fall short of expectations
(Reuters) - The company also said revenue will be lower-than-expected mostly because it focused on building backlog rather than sales during the quarter.
In a regulatory filing, the maker of precision dispensing equipment said it now expects second-quarter earnings from continuing operations of about 57 cents a share.
Read more at Reuters.com Government Filings News
In a regulatory filing, the maker of precision dispensing equipment said it now expects second-quarter earnings from continuing operations of about 57 cents a share.
Read more at Reuters.com Government Filings News
Platinum Falls for Second Day as South Africa Strike Ends; Palladium Drops
(Bloomberg) -- Platinum prices in New York fell for a second day after a strike ended at the South Africa mine owned by the world's fourth-largest producer. Palladium also dropped.
Northam Platinum Holdings Ltd. said yesterday it reached an agreement with the National Union of Mineworkers, halting the strike at its lone mine. Platinum climbed 4.5 percent during the walkout by about 5,500 workers, which began on April 29.
Read more at Bloomberg Commodities News
Northam Platinum Holdings Ltd. said yesterday it reached an agreement with the National Union of Mineworkers, halting the strike at its lone mine. Platinum climbed 4.5 percent during the walkout by about 5,500 workers, which began on April 29.
Read more at Bloomberg Commodities News
Sciele Pharma to sell $285 million in new debt
(Reuters) - The company said it intends to use the proceeds of the offering to redeem all of its $150 million 1.75 percent contingent convertible senior subordinated notes due in 2024, and for acquisitions or licenses of products and technologies, and for capital expenditures and general corporate purposes.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
CDW average daily sales rise 22.8 pct in April
(Reuters) - Excluding the impact of Berbee sales, CDW's average daily sales for April were $27.52 million, up 14.2 percent, while total sales rose 20.0 percent to $577.9 million.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Calpine posts narrower quarterly loss
(Reuters) - Sales rose 19 percent to $1.6 billion for the quarter ending March 31, said Calpine, which operates 25,000 megawatts of generating capacity in 18 states and sells power to the wholesale market.
Energy revenue was helped by a 31 percent jump in power generation from the year-ago period, which followed its bankruptcy filings. Calpine filed for Chapter 11 bankruptcy protection in December 2005 in one of the largest U.S. corporate insolvencies in recent history.
Read more at Reuters.com Market News
Energy revenue was helped by a 31 percent jump in power generation from the year-ago period, which followed its bankruptcy filings. Calpine filed for Chapter 11 bankruptcy protection in December 2005 in one of the largest U.S. corporate insolvencies in recent history.
Read more at Reuters.com Market News
Australia's S&P/ASX Advances to Record; Rio Jumps on Takeover Speculation
(Bloomberg) -- Australian stocks rose to a record. Rio Tinto Group surged on speculation BHP Billiton Ltd., the world's biggest mining company, made a takeover bid for its smaller rival.
``A takeover by BHP is feasible given that both companies are closely affiliated with Australia, which would make it easier from a regulatory point of view,'' said Michael Birch, who helps manage $133 million at Wallace Funds Management in Sydney, including Rio Tinto and BHP shares.
Read more at Bloomberg Stocks News
``A takeover by BHP is feasible given that both companies are closely affiliated with Australia, which would make it easier from a regulatory point of view,'' said Michael Birch, who helps manage $133 million at Wallace Funds Management in Sydney, including Rio Tinto and BHP shares.
Read more at Bloomberg Stocks News
Axtel, CPFL Energia, Perdigao and Randon May Move: Latin Equity Preview
(Bloomberg) -- The following stocks may make significant gains or losses in Brazil and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Read more at Bloomberg Stocks News
Brazil
Read more at Bloomberg Stocks News
U.K. Pound Advances on Speculation Bank Will Raise Rates by Half-Point
(Bloomberg) -- The pound advanced against the dollar and the euro after an industry survey showed the price of goods in U.K. shops rose last month, fueling speculation the Bank of England will raise interest rates by 50 basis points tomorrow.
The U.K. currency may advance as traders price in the likelihood that policy makers will lift borrowing costs to 5.75 percent at their monthly rate-setting meeting after inflation breached their target by more than a percentage point. All 61 economists surveyed by Bloomberg News on May 3-4 forecast the BOE would increase its benchmark rate by 25 basis points.
Read more at Bloomberg Currencies News
The U.K. currency may advance as traders price in the likelihood that policy makers will lift borrowing costs to 5.75 percent at their monthly rate-setting meeting after inflation breached their target by more than a percentage point. All 61 economists surveyed by Bloomberg News on May 3-4 forecast the BOE would increase its benchmark rate by 25 basis points.
Read more at Bloomberg Currencies News
Israel's Mivtach Shamir seeks to buy Gilat
(Reuters) - Shares in Gilat closed at $9.56 on Nasdaq on Tuesday.
Mivtach Shamir did not name the third party involved in the talks.
Read more at Reuters.com Mergers News
Mivtach Shamir did not name the third party involved in the talks.
Read more at Reuters.com Mergers News
Dendreon plunges as FDA seeks drug data
(Reuters) - The drop comes just over a month after the stock more than doubled in a single session when a U.S. Food and Drug Administration advisory panel recommended approval of the vaccine, Provenge.
Read more at Reuters.com Hot Stocks News
Read more at Reuters.com Hot Stocks News
Alliance Boots sets out acquisition funding
(Reuters) - LONDON, May 9 - Alliance Boots Plc for Alliance Boots, is Europe's largest ever LBO.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
News Corp quarterly profit up
(Reuters) - Revenue rose 21 percent to $7.53 billion.
Analysts had forecast earnings per share of 27 cents on revenue of $6.81 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts had forecast earnings per share of 27 cents on revenue of $6.81 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Global financial reforms inadequate - S.Africa finmin
(Reuters) - Global economic governance and reform of international financial structures remain inadequate to foster growth and reduce poverty in developing countries, South Africa's Finance Minister Trevor Manuel said on Tuesday.
Speaking at a function to honor outstanding local economists, Manuel said the development of new standards in emerging market economies in the wake of the Asian crisis had benefited the international financial system and strengthened national regulatory functions.
Read more at Reuters Africa
Speaking at a function to honor outstanding local economists, Manuel said the development of new standards in emerging market economies in the wake of the Asian crisis had benefited the international financial system and strengthened national regulatory functions.
Read more at Reuters Africa
Wall Street indexes end steady ahead of Fed meeting
(Reuters) - U.S. stocks closed flat on Tuesday as investors locked in profits after five straight sessions of gains in blue chips, a day before the Federal Reserve's meeting on interest rate policy.
After starting the session sharply lower, indexes clawed their way back as investors saw the decline as the first buying opportunity in more than a week. Resilience in the transportation sector also curbed the market's fall.
Read more at Reuters Africa
After starting the session sharply lower, indexes clawed their way back as investors saw the decline as the first buying opportunity in more than a week. Resilience in the transportation sector also curbed the market's fall.
Read more at Reuters Africa
New Clicks H1 earnings up 34 pct
(Reuters) - Shares in South African retailer New Clicks rose 4 percent on Wednesday after it announced its first-half headline earnings per share were up 34.1 percent and forecast similar full-year profit gains.
At 0924 GMT, drug and cosmetics retailer New Clicks was trading 4.03 percent stronger at 15.50 rand, compared with a 0.03 percent climb in the JSE general retailers index. New Clicks shares have surged 36 percent so far this year.
Read more at Reuters Africa
At 0924 GMT, drug and cosmetics retailer New Clicks was trading 4.03 percent stronger at 15.50 rand, compared with a 0.03 percent climb in the JSE general retailers index. New Clicks shares have surged 36 percent so far this year.
Read more at Reuters Africa
Gold May Rise in London as Investment Funds Buy Back Metal; Silver Falls
(Bloomberg) -- Gold may advance in London on buying by investment funds caught off guard by a rally spurred by declines in the dollar and increased demand for commodities.
Gold had dropped $3.20, or 0.5 percent, the past two days as funds bought the dollar before today's Federal Reserve meeting to decide on interest rates. Gold climbed after the Fed's previous meetings in January and March as investment funds had to buy back gold they sold earlier.
Read more at Bloomberg Commodities News
Gold had dropped $3.20, or 0.5 percent, the past two days as funds bought the dollar before today's Federal Reserve meeting to decide on interest rates. Gold climbed after the Fed's previous meetings in January and March as investment funds had to buy back gold they sold earlier.
Read more at Bloomberg Commodities News
Delhaize Q1 EBIT in line with expectations
(Reuters) - Comparable store sales growth in the United States, where Delhaize does about 80 percent of its business, was 4.1 percent. That compared with the average forecast of 3.4 percent from the analysts' poll.
The retailer -- which also has operations in home market Belgium, Greece, Indonesia and Romania -- said it stuck to its 2007 targets, which include growth in operating profit of 6-8 percent.
Read more at Reuters.com Market News
The retailer -- which also has operations in home market Belgium, Greece, Indonesia and Romania -- said it stuck to its 2007 targets, which include growth in operating profit of 6-8 percent.
Read more at Reuters.com Market News
E.ON's Q1 profit rises 21 pct on UK, gas unit
(Reuters) - The company also raised its outlook for net income in 2007.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Alliance Boots, Valeo, Qantas: European Credit-Default Swap Market Movers
(Bloomberg) -- The risk of owning European corporate bonds fell today, according to traders in the credit-default swaps market.
The cost of a credit-default swap based on a 10 million- euro ($13 million) contract on the iTraxx Crossover Series 7 Index, which includes 50 companies with investment-grade and non-investment grade ratings, fell 2,000 euros to 202,500 euros, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
The cost of a credit-default swap based on a 10 million- euro ($13 million) contract on the iTraxx Crossover Series 7 Index, which includes 50 companies with investment-grade and non-investment grade ratings, fell 2,000 euros to 202,500 euros, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
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