Dreyfus Greater China Fund Shuns Largest Companies, to Post Top Returns

(Bloomberg) -- Hugh Simon and Nina Wu are producing
the best returns from Asia for mutual-fund investors by buying
the smallest stocks in Hong Kong and shunning mainland China,
the region's most expensive market.

The $1 billion Dreyfus Premier Greater China Fund's
holdings are less than a 10th the size of those on Hong Kong's
Hang Seng Index. They trade at 16 times estimated earnings,
compared with the average multiple of 42 for stocks on the CSI
300 Index, China's benchmark.


Read more at Bloomberg Stocks News

Oil hovers near 10-month high ahead of stock data

(Reuters) - Oil held steady around $73 a barrel after briefly marking a new 10-month high on Thursday, as dealers waited for weekly U.S. oil inventory data expected to show little change in crude or fuel stocks.

London Brent crude currently seen as more representative of global oil prices, eased 6 cents to $72.99 a barrel at 0604 GMT, after having traded as high as $73.32, the highest front-month price since late August.


Read more at Reuters Africa

Gold Little Changed in Asia Amid Dollar Slump, Oil Gains; Silver Declines

(Bloomberg) -- Gold was little changed in Asia amid
demand from investors for an alternative to the weakening dollar
and for a hedge against inflation as oil prices trade near a 10-
month high. Silver declined.

Gold has gained almost 2 percent in the past week as the
dollar-priced metal has become cheaper to investors holding
other currencies. The dollar traded near a record low against
the euro today and near the lowest in 26 years versus the
British pound on prospects for higher European interest rates.


Read more at Bloomberg Commodities News

ECB Likely to Keep Rate Unchanged, Consider a Ninth Increase in September

(Bloomberg) -- The European Central Bank will
probably keep interest rates unchanged, preferring to wait for
confirmation that economic growth is fanning inflation before
raising borrowing costs again, a survey of economists shows.

Policy makers meeting in Frankfurt today will keep the
benchmark refinancing rate at 4 percent, according to all 42
economists in a Bloomberg News survey. The bank will raise the
rate to 4.25 percent in September, a separate survey shows.


Read more at Bloomberg Bonds News

Asia shares stage rally; resources bring cheer

(Reuters) - With Wall Street closed for the U.S. Independence Day holiday, investors took their cue from European stock markets which surged on Wednesday.




The MSCI world equity index -- a gauge of broader stock market performance -- hit a lifetime peak, fuelled by flourishing mergers and acquisitions activity, and extended gains on Thursday.


Read more at Reuters.com Hot Stocks News

South Korean Bonds Fall as Interest Rates Will Rise; Won Little Changed

(Bloomberg) -- South Korea's government bonds dropped
on speculation the central bank will raise interest rates next
week to prevent surplus cash in the banking system from spurring
inflation. The won was little changed.

Five-year bonds fell for a fifth day as Finance Minister
Kwon Okyu said monetary policy should be aimed at ``controlling
liquidity'' because consumer prices may rise. Exports increased
to a record in June while the nation's current account balance
was in surplus for the first time in three months in May.


Read more at Bloomberg Currencies News

U.S. Notes Decline After Demand for Safety Wanes on Easing Terror Concerns

(Bloomberg) -- Ten-year Treasuries fell on
speculation investor appetite for riskier securities will
increase after the U.K. reduced its terror alert and the U.S.
July 4 holiday passed without incident.

Notes dropped after stocks gained in Europe and Asia
yesterday, which helped reduce demand for the relative safety of
government debt. New York City stepped up counter-terrorism in
advance of July 4 after authorities in the U.K. arrested seven
on terrorism charges relating to incidents in London and Glasgow.


Read more at Bloomberg Bonds News

U.S. Treasuries Fall After European Bonds Decline on Interest Rate Concern

(Bloomberg) -- U.S. 10-year Treasury notes dropped
after Europe's government bonds slid for a second day yesterday
on speculation the European Central Bank will keep increasing
interest rates from a six-year high.

The yield on the benchmark 10-year note rose 2 basis points
to 5.06 percent as of 7:56 a.m. in Singapore, according to bond
broker Cantor Fitzgerald LP. The price of the 4 1/2 percent
security due in May 2017 fell 5/32, or $1.56 per $1,000 face
amount, to 95 21/32. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Japanese Government Bonds May Fall for 2nd Day Before U.S. Payroll Report

(Bloomberg) -- Japan's government bonds may decline
before a report tomorrow that is likely to show job creation was
enough to sustain economic growth in the U.S., the nation's
largest export market.

``The upside for government bonds is likely to be
limited,'' said Akitsugu Bandou, a senior strategist at Okasan
Securities Co. in Tokyo, one of the 25 primary dealers that are
required to bid at auctions. People are likely to refrain from
buying before the U.S. jobs report, he said.


Read more at Bloomberg Bonds News

Moody's sees threats to sky-high pharma ratings

(Reuters) - Strong cashflows, healthy profits and low leverage remain
the norm in the sector for now but Moody's reckons the outlook
is "moderately negative", given looming threats to key patents,
likely further acquisitions and shareholder calls for buybacks.




In a new report on European pharmaceutical companies, the
agency forecasts a long-term negative bias in rating trends for
these issuers.


Read more at Reuters.com Mergers News

Colombia Inflation-Linked Bonds Fall on Outlook for Slower Consumer Prices

(Bloomberg) -- Colombia's inflation-linked peso
bonds fell to their lowest in almost a year on expectations
cooling inflation will hurt returns on the securities.

Colombia's annual inflation rate slowed to 6.03 percent
last month, compared with 6.23 percent in May, a government
report showed on July 1. The central bank targets inflation
between 3.5 percent and 4.5 percent this year.


Read more at Bloomberg Bonds News

FACTBOX- How private equity firms KKR, Blackstone stack up

(Reuters) - HISTORY:




Blackstone:


Read more at Reuters.com Bonds News

South African Corn Milling Output Fell 0.6 Percent in May on Previous Year

(Bloomberg) -- Tiger Brands Ltd., Premier Foods Ltd.
and other commercial millers in South Africa processed 0.6
percent less corn in May than a year earlier.

The millers processed 222,724 metric tons during May,
compared with 224,113 tons in the same month a year earlier, the
Pretoria-based National Association of Maize Millers said on its
Web site today. South Africa is Africa's biggest corn producer.


Read more at Bloomberg Commodities News

S.Africa unions declare wage dispute with Exxaro

(Reuters) - South African trade unions said on Wednesday they had declared a dispute over wages with diversifed miner Exxaro, after the company made a final wage offer of an 8 percent increase.

The unions, Solidarity, the National Union of Mineworkers and the National Union of Metal Workers of South Africa declared the dispute, the first legal step towards going on strike.


Read more at Reuters Africa

BR Malls, Eletropaulo, Petrobras, Telemar: Brazil Equity Market Movers

(Bloomberg) -- Brazil's main stock index rose for a
sixth day, led by mobile-phone company Tele Norte Leste
Participacoes SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 169.22, or 0.3 percent, to a record 55,868.91 as
of 9:57 a.m. New York time.


Read more at Bloomberg Stocks News

Brazil Bond Yields Rise After Output Increases More Than Forecast in May

(Bloomberg) -- Brazil's bond yields rose after a
larger-than-expected increase in industrial production bolstered
speculation the central bank will stop cutting interest rates.

Brazil's central bank lowered the benchmark lending rate by
half a percentage point to a record low of 12 percent on June 6,
the 16th consecutive decrease. The bank has cut the target from
a high of 19.75 percent in September 2005.


Read more at Bloomberg Currencies News

BCE, Imax, Meridian Gold, Yamana Gold: Canadian Equity Market Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets
today. This preview includes news that broke after markets closed
yesterday. Stock symbols are in parentheses after company names
and prices are from the last close.

The Standard & Poor's/TSX Composite Index gained 158.17, or
1.1 percent, to 14,064.74, yesterday in Toronto.


Read more at Bloomberg Stocks News

Prince Alwaleed's Kingdom Ready to Shares Shares to Public, People Say

(Bloomberg) -- Saudi Prince Alwaleed bin Talal's
Kingdom Holding Co. plans to sell shares to individuals in an
initial public offering that values the company at as much as
$17.6 billion, two people with knowledge of the matter said.

Kingdom will sell shares for 10.25 riyals ($2.73) to 10.5
riyals each, after money managers sought more than twice the
stock offered to them, said the people, who declined to be
identified because the information is private. Shares in Kingdom,
set to become the country's fifth-largest publicly traded
company, will go on sale to Saudi individuals as soon as July 7.


Read more at Bloomberg Emerging Markets News

U.K. Natural Gas Rises on Forecast Above-Average Demand May Exceed Supply

(Bloomberg) -- U.K. natural gas for same-day
delivery rose as forecasts showed supply may fall short of
expected demand. The week-ahead price also increased.

U.K. gas for delivery today traded at 24.5 pence a therm,
up 4.5 percent from the last day-ahead price yesterday,
according to data from broker ICAP Plc. The price is equivalent
to $4.94 a million British thermal units. A therm is 100,000
Btus. Intraday gas traded last at 23.5 pence a therm yesterday.


Read more at Bloomberg Energy News

China Stocks Slide on Concern Over Interest Rates: World's Biggest Mover

(Bloomberg) -- China's stocks fell after the central
bank signaled it may raise interest rates and account openings at
brokerages grew at the slowest pace since March, suggesting the
flow of savings into equities will diminish. Shanghai Pudong
Development Bank Co. led the decline.

``Monetary policy may continue to rein in liquidity and the
market is more or less expecting it and reacting to it,'' said Wu
Jianxiong, an analyst at Guotai Junan Securities Co. in Shanghai.


Read more at Bloomberg Stocks News

Huntsman gets $27.25/share approach from Apollo

(Reuters) - Huntsman, whose products are used in paints, footwear and cleaning products, said on Wednesday that the new proposal was from Apollo's Hexion Specialty Chemicals Inc which has funding in place for its proposed acquisition.




Huntsman shares closed at $24.40 on Tuesday. U.S. markets are closed for a holiday on Wednesday.


Read more at Reuters.com Business News

GLOBAL MARKETS-Booming M&A lift world stocks to lifetime peaks

(Reuters) - The MSCI world equity index, a gauge for broader stock
market performance, rose 0.6 percent to a high of 406.5
. Takeover activity, a feature of the four-year
bull equity market, was booming in various sectors including the
hotel and food industries.




"There are still lots of stories going around about various
takeovers and potential takeovers. This is positive because you
are assuming that you are paying the premium for the stocks,"
said Neil Parker, market strategist at RBS Financial Markets.


Read more at Reuters.com Economic News

Carlyle affiliate begins trade at $20 per share

(Reuters) - On Tuesday, Carlyle Capital said it had placed 15.8 million
new shares at $19 per Class B stock. Shares traded up 2.6
percent at $19.50 by 0729 GMT.




Read more at Reuters.com Mergers News

U.K. Stocks Gain, Paced by InterContinental, Whitbread, Punch Taverns

(Bloomberg) -- U.K. stocks rose, paced by
InterContinental Hotels Group Plc, Whitbread Plc and Punch
Taverns Plc after U.S.-based Hilton Hotels Corp. agreed to be
taken private.

The benchmark FTSE 100 Index gained 15.70, or 0.2 percent,
to 6655.50 in London at 8:14 a.m. The FTSE All-Share Index added
5.08, or 0.2 percent, to 3432.37. Ireland's ISEQ Index rose 22.77
to 9389.53.


Read more at Bloomberg Stocks News