(Bloomberg) -- The German economy, Europe's largest, expanded more than economists expected in the first quarter even as a sales-tax increase damped consumer spending.
Gross domestic product grew 0.5 percent in the three months through March from the previous quarter, when it expanded a revised 1 percent, the Federal Statistics office in Wiesbaden said today. Economists expected growth of 0.3 percent, according to the median of 41 estimates in a Bloomberg News survey.
Read more at Bloomberg Bonds News
Monday, May 14, 2007
Asia shares retreat as U.S. economy fears return
(Reuters) - The yen matched a three-month low against the dollar on the
weak machinery orders, a barometer of corporate capital spending, which underscored expectations the Bank of Japan will raise interest rates only gradually. But the softer currency offered support to high-tech exporters.
Read more at Reuters.com Hot Stocks News
weak machinery orders, a barometer of corporate capital spending, which underscored expectations the Bank of Japan will raise interest rates only gradually. But the softer currency offered support to high-tech exporters.
Read more at Reuters.com Hot Stocks News
D.Post says Q1 operating profit rises 8.7 pct
(Reuters) - The average forecast in a Reuters poll of 14 analysts was for EBIT of 917 million euros, with estimates ranging from 824 million to 1.01 billion.
The company reiterated its forecast that full-year earnings excluding one-off items would reach at least 3.6 billion euros, compared with 3.51 billion last year. Group EBIT including one-off items last year was 3.87 billion euros.
Read more at Reuters.com Market News
The company reiterated its forecast that full-year earnings excluding one-off items would reach at least 3.6 billion euros, compared with 3.51 billion last year. Group EBIT including one-off items last year was 3.87 billion euros.
Read more at Reuters.com Market News
Thomson set to buy Reuters for 8.7 bln pounds -WSJ
(Reuters) - The Journal cited unnamed sources as saying the companies were confident that the combination will ultimately be approved by regulators.
The deal took shape under parameters outlined by the companies last week, the Journal said.
Read more at Reuters.com Mergers News
The deal took shape under parameters outlined by the companies last week, the Journal said.
Read more at Reuters.com Mergers News
Slovak Koruna's Euro-Entry Level May Be Raised by 5%, Morgan Stanley Says
(Bloomberg) -- Slovakia's currency may extend gains against the euro in the coming year, forcing the country to lift the agreed level at which it will join the common European currency by about 5 percent, according to Morgan Stanley.
The koruna has risen versus 15 of the 16 major currencies tracked by Bloomberg in the past 12 months, climbing 11 percent versus the euro, as economic growth has surged. The gains will continue, forcing the country to raise the level at which it will join the euro in 2009, Pasquale Diana, Morgan Stanley's Central Europe economist wrote in a note to clients.
Read more at Bloomberg Currencies News
The koruna has risen versus 15 of the 16 major currencies tracked by Bloomberg in the past 12 months, climbing 11 percent versus the euro, as economic growth has surged. The gains will continue, forcing the country to raise the level at which it will join the euro in 2009, Pasquale Diana, Morgan Stanley's Central Europe economist wrote in a note to clients.
Read more at Bloomberg Currencies News
S.Africa's Eskom to issue bonds of 250 mln rand
(Reuters) - South Africa's electricity utility Eskom will issue up to 250 million rand worth of ES26 bonds on May 16, the company said on Monday.
Eskom, which is planning massive investment to boost tight power capacity in Africa's biggest economy, said the bond's bidding methodology would be on a spread basis to the government's R186 bond due 2026.
Read more at Reuters Africa
Eskom, which is planning massive investment to boost tight power capacity in Africa's biggest economy, said the bond's bidding methodology would be on a spread basis to the government's R186 bond due 2026.
Read more at Reuters Africa
Pamodzi Gold aims to boost output to 1 mln oz
(Reuters) - South African junior miner Pamodzi Gold Ltd posted a dip in quarterly gold output and a loss on Monday, but said it aims to boost production to 1 million ounces within two years.
The black-owned firm, which listed on the Johannesburg bourse in December, said gold production for the three months to end March fell 21 percent to 23,735 ounces compared to the previous quarter.
Read more at Reuters Africa
The black-owned firm, which listed on the Johannesburg bourse in December, said gold production for the three months to end March fell 21 percent to 23,735 ounces compared to the previous quarter.
Read more at Reuters Africa
Reverse in Anglo, miners drag down S.African bourse
(Reuters) - A recoil in mining stocks like Anglo American after rumoured mergers failed to materialise pushed the South African bourse lower on Monday.
The Johannesburg Top-40 index of blue-chip stocks slipped 2.25 percent to 25,152.52 points while the All-share index shed 2.01 percent to 28,094.80 points.
Read more at Reuters Africa
The Johannesburg Top-40 index of blue-chip stocks slipped 2.25 percent to 25,152.52 points while the All-share index shed 2.01 percent to 28,094.80 points.
Read more at Reuters Africa
HK's Li & Fung says eyes HK, U.S. acquisitions
(Reuters) - "We feel very strongly that something will be completed soon," he told Reuters after the firm's annual shareholders' meeting. "That's why we did the bond."
"The majority of it will certainly be used for acquisitions. We see opportunities across all of our businesses. We're looking at Hong Kong and the United States."
Read more at Reuters.com Bonds News
"The majority of it will certainly be used for acquisitions. We see opportunities across all of our businesses. We're looking at Hong Kong and the United States."
Read more at Reuters.com Bonds News
China Retail Sales Rise 15.5 Percent as Incomes Rise, Stock Market Booms
(Bloomberg) -- China's retail sales grew 15.5 percent in April from a year earlier as rising incomes and a stock market boom encouraged the world's most populous nation to spend.
Sales climbed to 667.3 billion yuan ($86.8 billion) after gaining 15.3 percent in March, the National Bureau of Statistics said today. That was the biggest increase since May 2004 if the first two months of each year are combined to eliminate Lunar New Year holiday distortions.
Read more at Bloomberg Emerging Markets News
Sales climbed to 667.3 billion yuan ($86.8 billion) after gaining 15.3 percent in March, the National Bureau of Statistics said today. That was the biggest increase since May 2004 if the first two months of each year are combined to eliminate Lunar New Year holiday distortions.
Read more at Bloomberg Emerging Markets News
Fortis, Atlas Copco, Marfin Popular Plan to Sell Debt: European Bond Alert
(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.
Investment-Grade Sales
Read more at Bloomberg Bonds News
Investment-Grade Sales
Read more at Bloomberg Bonds News
Asian Equities Fall on Economic Growth Concern; Fanuc, BHP Billiton Slide
(Bloomberg) -- Asian stocks fell after Japanese machinery orders unexpectedly fell and metals prices slumped.
Fanuc Ltd., the world's largest maker of industrial robots, and BHP Billiton Ltd., the biggest mining company, led declines. Hyundai Heavy Industries Co. dropped on concern costs will increase after Dongkuk Steel Mill Co. said it will raise ship- plate prices.
Read more at Bloomberg Stocks News
Fanuc Ltd., the world's largest maker of industrial robots, and BHP Billiton Ltd., the biggest mining company, led declines. Hyundai Heavy Industries Co. dropped on concern costs will increase after Dongkuk Steel Mill Co. said it will raise ship- plate prices.
Read more at Bloomberg Stocks News
U.S. Stocks Drop, Led by Financials on Downgrade; GM Rallies, Lifting Dow
(Bloomberg) -- Bank and brokerage shares tumbled after JPMorgan said interest rates are unlikely to fall this year, sending most U.S. stocks lower and curtailing the Standard & Poor's 500 Index's six-week advance.
Citigroup Inc., the world's biggest bank, and Merrill Lynch & Co., the third-largest U.S. securities firm, led declines. Dell Inc. pushed down the Nasdaq Composite Index on a report the computer maker is too reliant on North American sales, while General Motors Corp., the world's biggest carmaker, carried the Dow Jones Industrial Average to its second straight gain after DaimlerChrysler AG sold its unprofitable U.S. unit.
Read more at Bloomberg Stocks News
Citigroup Inc., the world's biggest bank, and Merrill Lynch & Co., the third-largest U.S. securities firm, led declines. Dell Inc. pushed down the Nasdaq Composite Index on a report the computer maker is too reliant on North American sales, while General Motors Corp., the world's biggest carmaker, carried the Dow Jones Industrial Average to its second straight gain after DaimlerChrysler AG sold its unprofitable U.S. unit.
Read more at Bloomberg Stocks News
Water Rustlers Swoop In as Parched Australian Cities Dry Up Pools, Gardens
(Bloomberg) -- Neil Clarke says he was dumbfounded when thieves made off with thousands of liters of rainwater stored at an athletic field in Brisbane, Australia, last month.
The theft, from a tank at Fortitude Valley Junior Rugby League Club, came as the city tightened water-use curbs in force since 2005. Australia's longest dry spell on record has left only those in the tropical north free to turn on taps to sprinkle gardens, wash cars and hose down the children.
Read more at Bloomberg Exclusive News
The theft, from a tank at Fortitude Valley Junior Rugby League Club, came as the city tightened water-use curbs in force since 2005. Australia's longest dry spell on record has left only those in the tropical north free to turn on taps to sprinkle gardens, wash cars and hose down the children.
Read more at Bloomberg Exclusive News
Shanghai Copper Futures Fall Limit Amid Speculation China Demand May Slow
(Bloomberg) -- Shanghai copper futures fell for a fourth day, dropping the 4 percent daily limit to the lowest in five weeks amid speculation that demand will slow in China, the world's biggest consumer of the metal. Zinc was also limit down.
Inventories monitored by the Shanghai Futures Exchange increased 26 percent to 85,269 metric tons last week, the highest since May 2004, the exchange said May 11. Shanghai copper prices, which have gained 10 percent this year, are headed for their biggest four-day decline since January.
Read more at Bloomberg Commodities News
Inventories monitored by the Shanghai Futures Exchange increased 26 percent to 85,269 metric tons last week, the highest since May 2004, the exchange said May 11. Shanghai copper prices, which have gained 10 percent this year, are headed for their biggest four-day decline since January.
Read more at Bloomberg Commodities News
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