Philippine Peso Gains as Economic Growth Quickens; Government Bonds Fall

(Bloomberg) -- The Philippine peso strengthened after
the government said the economy grew faster than predicted in the
first quarter. Government bonds fell.

The currency ended two days of losses after the report
showed gross domestic product expanded 6.9 percent from a year
earlier, as increasing remittances from overseas workers boosted
consumer spending. Economists forecast growth of 5.7 percent,
according to the median estimate in a Bloomberg News survey.


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Florida's Orange County, American Airlines Lead U.S. Municipal Borrowers

(Bloomberg) -- Florida's Orange County and AMR
Corp.'s American Airlines are borrowing to refinance debt and
trim their interest costs in today's largest U.S. offerings of
municipal bonds.

Orange County, home to Orlando and its nearby theme parks,
is taking bids from underwriters for $167 million of bonds
backed by a hotel-room tax. Dallas/Fort Worth International
Airport will sell $125 million of high-risk, high-yield bonds
secured by payments from American Airlines in a deal managed by
Morgan Stanley.


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Pilat Media to explore Nasdaq listing

(Reuters) - It added that it had made a pretax loss in the first quarter
of 225,000 pounds, but that this had been expected.




Shares in the company were down 3.4 percent at 71-1/2 pence
by 0700 GMT, valuing it at 42.4 million pounds.


Read more at Reuters.com Market News

National Bank boosts profit and dividend

(Reuters) - As expected, the bank also boosted its dividend to 60 Canadian cents a share, up 11 percent.



Analysts had expected National Bank to report earnings of C$1.32 a share before items, according to a poll by Reuters Estimates.


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UPDATE 1-E.ON shares jump on 7 bln-euro share buyback

(Reuters) - DUESSELDORF, Germany, May 31 - Shares in Germany's
E.ON on buying back shares.




"E.ON's creating value," WestLB analyst Peter Wirtz said.
The move was signalling that "it plans to please its
shareholders and to grow strongly", he said.


Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Advance; Yahoo, Ceridian, Dell Climb in Europe

(Bloomberg) -- U.S. stock-index futures increased on
speculation the economy is rebounding after bottoming out in the
first quarter.

Shares of Yahoo! Inc., owner of the second-most-popular
Internet search engine, climbed in Europe after a stock upgrade
by JPMorgan Chase & Co. Ceridian Corp. gained as the provider of
human resource and payroll services agreed to be acquired for
$5.3 billion. Shares of Wachovia Corp., the fourth-biggest U.S.
bank, may move after the company agreed to buy A.G. Edwards Inc.


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Jo-Ann Stores for sale: The Deal

(Reuters) - Jo-Ann Stores could not immediately be reached for comment and a Lehman spokeswoman declined to comment.




The Hudson, Ohio-based company is a national fabric and craft retailer, operating nearly 800 stores in 47 states.


Read more at Reuters.com Bonds News