South Africa's Rand Reaches Six-Week High on Outlook for Interest Rates

(Bloomberg) -- South Africa's rand rose for a fourth
day, touching its highest in six weeks, on speculation the
country's relatively high rates will keep luring investors
looking for yield.

Foreign investors bought 728 million rand ($103.8 million)
more than they sold of the country's bonds June 29, reversing net
sales of 706 million rand the previous day, according to the Bond
Exchange of South Africa. The rand had risen as the gap in yield
between South African benchmark 10-year debt and similar maturity
Treasuries widened more than 30 points in the past month.


Read more at Bloomberg Currencies News

Gold, Silver Rise in London as Costs May Spur Demand for Inflation Hedge

(Bloomberg) -- Gold and silver rose in London on
speculation higher raw-material costs and a weaker dollar may
revive demand for precious metals as a hedge against inflation.

Bullion also gained after investors bought it as a haven
following attempted car bombings in London and an attack in
Glasgow last week, said Tom Kendall, a precious metals
strategist at Mitsubishi Corp. in London.


Read more at Bloomberg Commodities News

Treasuries Little Changed After U.K. Attack, Before U.S. Production Report

(Bloomberg) -- Treasuries were little changed after
U.K. police arrested five people following an attack on Glasgow
International Airport and two attempted London car bombings.

Ten-year yields stabilized after their biggest drop in more
than two weeks on June 29 when police discovered two cars with
explosive materials in London. Two men were arrested at Glasgow
airport the next day after their Jeep crashed into the terminal
entrance and caught fire. A report by the Institute for Supply
Management today is forecast to show U.S. manufacturing growth.


Read more at Bloomberg Bonds News

Germany's DAX Index Decreases; Shares of Allianz, E.ON Pace the Drop

(Bloomberg) -- Germany's benchmark index dropped for
the first time in three days, led by Allianz SE after Merrill
Lynch & Co. removed the stock from its ``most preferred'' list.
E.ON AG, the Germany's largest utility, also fell.

The DAX Index lost 52.03, or 0.7 percent, to 7955.29 at
9:56 a.m. in Frankfurt. DAX futures expiring in September fell
0.6 percent to 8029. The HDAX Index of the country's 110 biggest
companies retreated 0.6 percent.


Read more at Bloomberg Stocks News

Turkish Economic Growth Accelerated in First Quarter on European Exports

(Bloomberg) -- Turkey's economic growth accelerated in
the first quarter led by record exports to the European Union and
increased government spending.

Gross domestic product expanded an annual 6.8 percent,
compared with 5.2 percent in the previous three months, the state
statistics office in Ankara said today. The economy had been
expected to grow by 5.8 percent, according to the median estimate
of 10 economists surveyed by Bloomberg.


Read more at Bloomberg Emerging Markets News

Big private equity groups polish German image

(Reuters) - The new group includes Blackstone , Allianz Capital
Partners , Apax [APAX.UL], Advent, Bain Capital, BC
Partners, CVC [CVC.UL], KKR [KKR.UL], Permira [PERM.UL] and TPG
[TPG.UL].




The new group will commission studies from independent
research institutes on the economic importance of private equity
activities in Germany, with group members providing data about
their investments, BVK said.


Read more at Reuters.com Mergers News

Japan Tobacco to Sell $1.2 Billion in Bonds to Help Fund Gallaher Purchase

(Bloomberg) -- Japan Tobacco Inc., the world's
third-largest traded cigarette maker, said it plans to sell
about 150 billion yen ($1.2 billion) of bonds to repay debt for
the purchase of Gallaher Group Plc.

Tokyo-based Japan Tobacco hired Daiwa Securities SMBC Co.
and Nomura Holdings Inc. to handle the sale, said Yukiko Seto, a
spokeswoman for Japan Tobacco. The company is aiming to price
the bonds this month, Seto said in a telephone interview.


Read more at Bloomberg Bonds News