(Reuters) - Oil prices steadied on Tuesday, as fears about supply disruptions were countered by forecasts that U.S. inventory data will show higher stockpiles ahead of peak summer demand.
London Brent crude for June, which expires on Wednesday, was 12 cents up at $66.95 a barrel by 0239 GMT. It ended unchanged on Monday after gaining a total of more than $1.50 on Thursday and Friday. U.S. crude for June gained 16 cents at $62.62 a barrel.
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Monday, 14 May 2007
UPDATE 1-GPC records Q1 loss, awaits FDA decision on key drug
(Reuters) - GPC said the FDA's Oncologic Drugs Advisory Committee will review satraplatin on July 24 and action from the FDA on the cancer drug is expected in August.
GPC said on Tuesday sales in the first quarter were 3.8 million euros, 25 percent lower than in the fourth quarter of 2006 and down 30 percent year on year.
Read more at Reuters.com Market News
GPC said on Tuesday sales in the first quarter were 3.8 million euros, 25 percent lower than in the fourth quarter of 2006 and down 30 percent year on year.
Read more at Reuters.com Market News
UPDATE 1-Nissan-Renault CEO: Powertrain technology sufficient
(Reuters) - Nissan and Renault cooperate in research and development, sharing vehicle platforms and engines.
Asked about tying up with a U.S. automaker, Ghosn repeated that any expansion of the Nissan-Renault alliance would be to seek opportunities to grow rather than out of necessity, but that now was not the time to consider such a move.
Read more at Reuters.com Mergers News
Asked about tying up with a U.S. automaker, Ghosn repeated that any expansion of the Nissan-Renault alliance would be to seek opportunities to grow rather than out of necessity, but that now was not the time to consider such a move.
Read more at Reuters.com Mergers News
Taiwan Dollar Falls to 17-Month Low on Carry Trade; Government Bonds Drop
(Bloomberg) -- Taiwan's dollar weakened to the lowest since December 2005 on speculation investors will borrow the local currency to take advantage of its low interest rates to buy higher-yielding assets elsewhere. Government bonds dropped.
The island's dollar fell for a sixth day as the benchmark rate of 2.875 percent, the second-lowest in the region after Japan, encouraged so-called carry trades. This year, the Taiwan dollar has dropped 2.3 percent and the yen has fallen 1.1 percent.
Read more at Bloomberg Currencies News
The island's dollar fell for a sixth day as the benchmark rate of 2.875 percent, the second-lowest in the region after Japan, encouraged so-called carry trades. This year, the Taiwan dollar has dropped 2.3 percent and the yen has fallen 1.1 percent.
Read more at Bloomberg Currencies News
Yen Rebounds as Japanese Investors May Bring Home Earnings on Treasuries
(Bloomberg) -- The yen rebounded from near an 11-week low against the dollar on speculation Japanese investors will bring back money invested in U.S. Treasuries.
The Treasury pays $72.8 billion in coupon and principal on government debt today, according to a research note from JPMorgan Chase & Co. The yen has weakened 8.2 percent against the dollar in the past year, the biggest drop of the 16 most-traded currencies, as investors borrowed in Japan to buy higher-yielding assets such as U.S. bonds.
Read more at Bloomberg Currencies News
The Treasury pays $72.8 billion in coupon and principal on government debt today, according to a research note from JPMorgan Chase & Co. The yen has weakened 8.2 percent against the dollar in the past year, the biggest drop of the 16 most-traded currencies, as investors borrowed in Japan to buy higher-yielding assets such as U.S. bonds.
Read more at Bloomberg Currencies News
Netcare shares dip as UK buy hits H1 profit
(Reuters) - Shares in Netcare, Africa's largest private hospital group, slipped on Monday after the group said a UK acquisition had dented its first-half profit.
Netcare said the acquisition of British subsidiary General Healthcare Group (GHG) had diluted first-half profits, pushing basic headline earnings per share down 7.4 percent.
Read more at Reuters Africa
Netcare said the acquisition of British subsidiary General Healthcare Group (GHG) had diluted first-half profits, pushing basic headline earnings per share down 7.4 percent.
Read more at Reuters Africa
Base metals fall on profit-taking
(Reuters) - Industrial metal prices fell on Monday as speculators banked profits after copper earlier this month hit its highest since last year.
Copper, often seen as a benchmark of the metals markets in particular and of economic growth in general, ended the official session at the London Metal Exchange (LME) at $7,840 per tonne, down $55 from Friday's closing price.
Read more at Reuters Africa
Copper, often seen as a benchmark of the metals markets in particular and of economic growth in general, ended the official session at the London Metal Exchange (LME) at $7,840 per tonne, down $55 from Friday's closing price.
Read more at Reuters Africa
Hurdles remain in Africa-EU trade talks - officials
(Reuters) - Debate over how much aid the European Union should give poor African countries to help them upgrade their production is at the heart of finding a new trade deal between the two regions, African officials said on Monday.
Although there are no official trade barriers for African goods into the European Union, onerous regulations, health and safety standards effectively block many of the continent's products from the lucrative market.
Read more at Reuters Africa
Although there are no official trade barriers for African goods into the European Union, onerous regulations, health and safety standards effectively block many of the continent's products from the lucrative market.
Read more at Reuters Africa
CORRECTED-UPDATE 1-HK mkt surges as China eases investment curbs
(Reuters) - By Rita Chang and Ian Chua
HONG KONG, May 14 - China's move to allow institutional investors to buy overseas stocks sent Hong Kong-listed Chinese shares to record highs, as Beijing looked set to let more of the country's $2 trillion in savings flow abroad.
Read more at Reuters.com Bonds News
HONG KONG, May 14 - China's move to allow institutional investors to buy overseas stocks sent Hong Kong-listed Chinese shares to record highs, as Beijing looked set to let more of the country's $2 trillion in savings flow abroad.
Read more at Reuters.com Bonds News
Agilent Technologies, Heartland Express, ICF, STEC: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges tomorrow. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names.
Agilent Technologies Inc. (A US) rose $1.49, or 4.1 percent, to $37.40 in trading after the official close of U.S. exchanges. The world's biggest maker of scientific-testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
Agilent Technologies Inc. (A US) rose $1.49, or 4.1 percent, to $37.40 in trading after the official close of U.S. exchanges. The world's biggest maker of scientific-testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
Moscow Bankers Receive $7 Million Annually, Double Average Wall Street Pay
(Bloomberg) -- Within a mile of the tomb of Vladimir Lenin, who vowed to destroy capitalists, investment bankers in Moscow are now earning double the pay of their counterparts anywhere else.
Dealmakers such as Ed Kaufman, who left UBS AG in March for Alfa Bank, and Nicholas Jordan, who will run Lehman Brothers Holdings Inc.'s new Moscow office, are offered $7 million and more a year, industry recruiters said. In New York, managing directors who arrange corporate mergers and stock and bond sales typically get $2 million to $3 million, according to estimates from headhunters at Options Group and Napier Scott Executive Search Ltd.
Read more at Bloomberg Exclusive News
Dealmakers such as Ed Kaufman, who left UBS AG in March for Alfa Bank, and Nicholas Jordan, who will run Lehman Brothers Holdings Inc.'s new Moscow office, are offered $7 million and more a year, industry recruiters said. In New York, managing directors who arrange corporate mergers and stock and bond sales typically get $2 million to $3 million, according to estimates from headhunters at Options Group and Napier Scott Executive Search Ltd.
Read more at Bloomberg Exclusive News
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