European stocks extend losses on credit worries

(Reuters) - European stocks extended their losses late on Monday, dropping 1 percent in choppy trade on persistent worries over the crisis in the credit market while shares of oil giants dropped along with crude prices.

At 1503 GMT, the pan-European FTSEurofirst 300 index was down 1 percent, at 1,502.62, a level not seen since March.


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Sappi says Q3 earnings per share at U.S 23 cts

(Reuters) - At 0715 GMT, Sappi was trading 2.24 percent lower at 109
rand, with the JSE blue-chip top 40 index 1.75 percent
weaker.




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Oil steady, investors brace for further crude draw

(Reuters) - U.S. crude eased 16 cents to $76.67 a barrel by 0201 GMT, adding to Monday's 19-cent decline after a day of volatile trade that saw prices swing between $76.05 to $77.33.




But after a seven-week, $12 rally fuelled by U.S. refinery troubles, a spurt of renewed fund investment and OPEC's adherence to supply curbs, prices remain within shouting distance of last July's all-time high $78.40 a barrel.


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UPDATE 1-GM offers zero-percent financing on pickups

(Reuters) - DETROIT, July 30 - General Motors Corp
said on Monday it had begun offering zero-percent financing for
up to 60 months on the extended and crew cab versions of its
2007 pickup trucks in response to competitors' discounts.




"We want to be competitive in the marketplace and there has
been increasingly heavy spending by our competitors," said John
McDonald, GM spokesman.


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FTSE down early; Johnson Matthey weighs on miners

(Reuters) - Britain's top share index fell early on Tuesday, led by Johnson Matthey, which extended its recent fall due to persistent worries of a delay to a partner's key drug.

At 0842 GMT, Britain's FTSE 100 was down 0.3 percent at 6,605.5 points as investors took profits after an M&A-driven gain of 0.6 percent on Monday.


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General Motors Narrows Sales Gap With Toyota on Higher Demand Outside U.S.

(Bloomberg) -- General Motors Corp. outsold Toyota
Motor Corp. in the second quarter, buoyed by sales in China and
Latin America, as it battles to maintain its 76-year reign as
the world's largest carmaker.

GM sold 2.405 million vehicles globally, compared with
Toyota's sales of 2.367 million, in the three months ended June
30, the carmakers said in separate statements. That cut Toyota's
lead in the first half to 42,000 vehicles from 88,000 in the
first quarter.


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FTSE down on US subprime woes; Sainsbury rises

(Reuters) - Britain's top share index fell 0.7 percent early on Wednesday on rising concerns over risky U.S. subprime mortgages, but Sainsbury rose after receiving a bid approach.

At 0735 GMT, the FTSE 100 was down 48.2 points, or 0.72 percent at 6,610.9, after slipping 0.6 percent in the previous session on concerns of higher UK interest rates. European shares also fell.


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Rand weaker, eyes US and retail sales data

(Reuters) - South Africa's rand was weaker on Wednesday on profit-taking but remained within recent ranges ahead of retail sales data due later in the session.

The rand was trading at 6.9770 to the dollar at 0630 GMT, 0.24 percent weaker than its previous New York close of 6.96, after earlier touching 6.9475 against the greenback.


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Rand stagnant versus dollar, lacks impetus

(Reuters) - The South African rand remained caught in tight ranges against the dollar on Tuesday amid a lack of market moving domestic economic data, traders said.

The local currency was at 6.9630 to the dollar at 1520 GMT, 0.2 percent firmer than Monday's close of 6.9750 after trading between 6.9570 and 6.9925 during the session.


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Copper eases as Chilean strike ends

(Reuters) - Copper eased on Friday as workers agreed to a pay deal at Chile's Collahuasi mine but concerns remained about tight supplies as other strikes continued.

Copper for delivery in three months on the London Metal Exchange fell back 0.7 percent to trade at $7,770/7,780 a tonne by 1223 GMT after workers in top producer Chile ended a four-day strike.


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GM plans diesel passenger cars in US by 2010-paper

(Reuters) - In a video blog on the company's website dated Thursday, GM
Vice Chairman Bob Lutz confirmed the top U.S. automaker would
use clean diesel engines in passenger cars, sport utility
vehicles and other light-duty trucks.




He stressed, however, that emissions hardware and control
systems needed to meet the standards would add another $2,000 to
$2,800 to the $1,000-$2,000 premium that already exists for
diesels over gasoline-engine cars.


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Nokia seen gaining from Motorola woes

(Reuters) - Nokia was up 1.2 percent at 21.21 euros by 0827 GMT, against a DJ Stoxx technology index up just 0.2 percent.




"With Motorola losing market share in several regions -- Europe and Asia -- I think the biggest beneficiary is Nokia," FIM Securities analyst Jussi Hyoty said.


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Emerging market sentiment weighs on S.African rand

(Reuters) - South Africa's rand weakened against the dollar on Tuesday, as a drop in U.S. stocks prompted investors to move away from emerging markets.

At 1455 GMT, the rand stood at 7.01 versus the dollar. It was about 0.55 percent softer than its last New York close of 6.9688 but had rebounded from 7.0450 earlier in the day.


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PKN postpones bond issue on volatile market -lead

(Reuters) - The iTraxx Crossover index , a barometer of
European credit market sentiment, has widened sharply throughout
Tuesday's trading session, and was 22 basis points wider by 1319
GMT at 268 basis points, according to prices from Deutsche Bank.




ABN AMRO, BNP Paribas, Citigroup and SG CIB are managing the
PKN Orlen bond sale.


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Rand barely moves against vs dollar, seen stuck in ranges

(Reuters) - South Africa's rand was barely moved from previous levels against the dollar early on Monday and should be stuck in ranges in the absence of key driving factors during the session, traders said.

The rand was at 6.9915 versus the dollar at 0630 GMT, 0.09 percent off its New York close of 6.9850 on Friday.


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Gold ticks up on oil, Tokyo futures at 2-week high

(Reuters) - By 0345 GMT, cash gold was trading at $654.40/655.00 an ounce from $653.80/654.60 late in New York on Friday, when it rose more than $4 an ounce.




"Fresh funds are flowing into gold as we're in the early part of the third quarter, although the market is still nervous because of uncertainty over the outlook for global interest rates," said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities.


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Kenya unit eases vs dollar, seen weakening to 67 level

(Reuters) - The Kenya shilling softened versus the dollar on Thursday due to good demand and dealers saw it weakening further due to heavy demand that has characterised trade this week.

At 1050 GMT commercial banks quote the unit at 66.85/95 compared with Wednesday's close of 66.70/80.


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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.


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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.




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S.Africa unions to announce strike decision on Thursday

(Reuters) - Unions representing most of South Africa's civil servants said they would announce on Thursday their response to a government wage offer, raising hopes the end was in sight to a crippling four-week strike.

The COSATU labour federation said it was meeting on Wednesday evening and would reconvene on Thursday, with a news conference to announce the outcome scheduled for 0900 GMT.


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