Fire halts output at Total's Congo Nkossa field

(Reuters) - A fire at French oil major Total's Nkossa offshore platform in Congo Republic killed two people and halted the field's 60,000 barrel-per-day production on Thursday, the company said.

Congo's oil ministry and the company said an investigation was under way to determine the cause of the blaze, which started at around 0400 GMT on Thursday and was quickly extinguished.


Read more at Reuters Africa

UPDATE 1-Alcatel-Lucent sees Q2 sales up 10 pct vs Q1

(Reuters) - The French-American telecoms equipment group posted an operating loss of 244 million euros for the three months to March 31 and a net profit of 199 million euros.

The figures compared with an operating profit of 246 million euros and net profit of 306 million euros in the first quarter of 2006.


Read more at Reuters.com Market News

U.K. Pound Set for Weekly Drop as Interest Rate Increase Meets Forecasts

(Bloomberg) -- The U.K. pound headed for a third weekly drop against the dollar after the Bank of England matched market expectations by raising interest rates a quarter point.

The pound also fell from the week's high on speculation a 3 percent gain in the past two months already reflects expectations for higher borrowing costs. All 61 economists surveyed by Bloomberg News forecast the bank would announce a quarter-point increase in the Bank Rate to 5.5 percent yesterday.


Read more at Bloomberg Currencies News

Independent News & Media, Tesco, 3i, Trinity: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.

The benchmark FTSE 100 Index fell 25.50, or 0.39 percent, to close at 6524.10 in London as 43 stocks rose, 57 fell and 2 were unchanged. The FTSE All-Share Index lost 10.54, or 0.31 percent, to 3393.46.


Read more at Bloomberg Stocks News

Retail Sales in U.S. Probably Slowed in April on Higher Gasoline Prices

(Bloomberg) -- Retail sales in the U.S. probably increased in April at the slowest pace in three months as near- record gasoline prices and falling home values strapped shoppers, economists said before a government report today.

Sales rose 0.4 percent after a 0.7 percent gain the prior month, according to the median estimate in a Bloomberg News survey of 83 economists. Purchases excluding automobiles probably increased 0.5 percent, also less than in March.


Read more at Bloomberg Currencies News

Gold Rises in Asia After Losses on Dollar's Recovery; Tokyo Futures Drop

(Bloomberg) -- Gold rose after falling 2.2 percent yesterday as the dollar's recovery to a one-month high against the euro reduced the precious metal's appeal as an alternative investment. Tokyo futures fell as much as the daily limit.

Gold often moves in the opposite direction to the U.S. currency. The euro headed for the biggest weekly loss against the dollar since the start of the year after European Central Bank President Jean-Claude Trichet, who yesterday flagged a June rate increase, gave no indication of policy direction after that.


Read more at Bloomberg Commodities News

Shanghai Copper Falls on Concern About China Demand; Zinc, Aluminum Down

(Bloomberg) -- Copper futures fell in Shanghai for a second day as international prices continued to drop amid concern that demand from China, the world's biggest consumer of the industrial metal, may slow.

Stockpiles of copper in Shanghai Futures Exchange warehouses have more than doubled this year to the highest since December 2005, as imports and domestic production gained. Stockpiles may rise as much as 10,000 tons this week, said analyst Cai Luoyi. The figures are expected this afternoon.


Read more at Bloomberg Commodities News