European Bonds Advance as Producer Price Inflation Slows in Germany

(Bloomberg) -- European government bonds gained for
a second day after a report showed producer-price inflation in
Germany, Europe's biggest economy, held near the lowest in almost
three years in May.

Benchmark debt was also buoyed by a rally in Treasuries
after reports this week showed U.S. house construction declined
for the first time in four months, and confidence among
homebuilders dropped to the lowest since 1991. Ten-year bunds had
their biggest gain in almost two months yesterday as a report
showed German investor sentiment unexpectedly worsened.


Read more at Bloomberg Bonds News

Copper Rises in London as Strike Threat Looms; Lead Advances to Record

(Bloomberg) -- Copper rose in London as stockpiles
fell and on speculation that strikes will disrupt production at
operations in Peru and Chile that account for at least 5 percent
of global supply. Lead jumped to a record and nickel climbed.

Workers at Codelco, the biggest copper company, Chile's
Collahuasi mine and Southern Copper Corp.'s Peruvian operations
have threatened to strike over pay demands. Inventories tracked
by the London Metal Exchange fell for the 23rd consecutive day,
the exchange said today in a daily report.


Read more at Bloomberg Commodities News

Mexican Congress to Consider Calderon's Proposal to Boost Tax Collections

(Bloomberg) -- Mexico's Congress will begin
consideration today of tax legislation proposed by President
Felipe Calderon to boost revenue collection and reduce the
government's dependence on oil.

The legislation, released last night in Mexico City and
scheduled for a first hearing today by a committee that meets
when Congress is adjourned, calls for a flat tax and limits on
tax deductions. It also proposes a 2 percent levy on cash
deposits of more than 20,000 pesos monthly ($1,863) to fight
evasion by small businesses and individuals.


Read more at Bloomberg Emerging Markets News

Rhodia unit boosts auto emissions control presence

(Reuters) - Aluminas are an important component in automotive catalytic
converters, and complement Rhodia's Rare Earth product range for
the fast-growing market for automotive emission control systems,
Rhodia said.




"This acquisition illustrates our strategy of profitable
growth and development of businesses in which we enjoy solid
leadership positions," Chief Executive Jean-Pierre Clamadieu
said in a statement.


Read more at Reuters.com Mergers News

PetroChina May Raise $6 Billion in Shanghai Share Sale to Fund Expansion

(Bloomberg) -- PetroChina Co. is planning the
nation's biggest share sale this year to raise as much as $6
billion in Shanghai for overseas acquisitions, increased oil
drilling and refinery construction.

The stock rose 5 percent in Hong Kong on expectations the
revenue will help develop the nation's largest oil find in almost
50 years. Beijing-based PetroChina, which said today it plans to
offer a maximum of 4 billion shares, overtook Royal Dutch Shell
Plc as the world's second-largest oil company by market value.


Read more at Bloomberg Energy News

Banks lift FTSE as global stocks advance

(Reuters) - The UK's leading share index jumped 0.4 percent on Wednesday, tracking gains in Asian and U.S. equities which took heart as a dip in U.S. Treasury bond yields eased global interest rate concerns.

Financial stocks, which put on a good show on Wall Street, extended gains in Europe.


Read more at Reuters Africa

UPDATE 2-H&M Q2 pretax, May sales lag despite pop divas

(Reuters) - STOCKHOLM, June 20 - Swedish fashion giant Hennes
& Mauritz second-quarter profits and May sales fell
short of expectations on Wednesday, despite high-profile
campaigns featuring pop icons Madonna and Kylie Minogue.




H&M reported pretax profit of 5.1 billion Swedish crowns
in the second quarter which ended in May,
against analysts' average forecast of 5.3 billion in a Reuters
poll and 3.9 billion in the same quarter last year.


Read more at Reuters.com Market News