Ensor, Independent News, KSK, Intercontinental: 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 close.

The benchmark FTSE 100 Index rose 90.30, or 1.4 percent, to
6649.90 in London. The FTSE All-Share Index rose 47.86, or 1.4
percent, to 3435.94.


Read more at Bloomberg Stocks News

Cemex, Eternit, Grupo Mexico, Petrobras May Move: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

U.S. Consumer Prices Probably Increased at Faster Pace as Gasoline Jumped

(Bloomberg) -- Consumer prices in the U.S. rose at
a faster pace in May, propelled by increases in energy costs
that have concerned some Federal Reserve policy makers,
economists said before a report today.

Prices rose 0.6 percent last month after a 0.4 percent gain
in April, according to the median estimate in a Bloomberg News
survey of 78 economists before the Labor Department's report.
Core prices, which exclude food and energy, rose 0.2 percent for
a second month, the survey showed.


Read more at Bloomberg Bonds News

Dow Chemical eyes $2 bln Thailand investment -paper

(Reuters) - "Dow Chemical is committed to turning Thailand into its
largest production base in Southeast Asia," Kosit said, without
giving further details.




Dow Chemical was among U.S. companies whose representatives
met with Kosit on Tuesday to discuss the investment climate in
post-coup Thailand, the paper said.


Read more at Reuters.com Mergers News

Copper Rises in Shanghai Trading on Chile Strike Concerns; Zinc Declines

(Bloomberg) -- Copper prices rose for a second day
in Shanghai as planned strikes at mines in Chile, the world's
biggest producer, threaten to disrupt supply at a time of
dwindling global stockpiles of the metal.

Contract workers at Chile's state-owned Codelco plan to
strike June 20, a labor leader said June 13. Workers at the
country's Collahuasi mine have also threatened to walk off the
job. Still, London copper prices have fallen 11 percent from
this year's high amid speculation China may be oversupplied.


Read more at Bloomberg Commodities News

Gold Gains in Asian Trade On Speculation Rising Oil Price to Boost Demand

(Bloomberg) -- Gold gained in Asia amid speculation
a rise in energy costs will boost demand for the precious metal
as a hedge against inflation. Silver was little changed.

Gold, headed for its second weekly gain in six, usually
moves in the same direction as crude oil, which traded near a
nine-month high in New York as a drop in U.S. refinery processing
raised concerns about supplies. Oil yesterday rose 2.1 percent.


Read more at Bloomberg Commodities News

Japan's Government Bonds Gain on Speculation Yields Reflect Rate Outlook

(Bloomberg) -- Japan's government bonds rose for a
second day on speculation yields near the highest in almost a year
have fully priced in the outlook for interest rates and inflation.

Benchmark bonds rebounded from a 10-day drop that had pushed
yields to levels unseen since the months following the Bank of
Japan's decision to stop pumping funds into the economy in March
2006. The central bank will probably keep interest rates unchanged
today as it awaits more evidence on the strength of the economy,
according to economists surveyed by Bloomberg News.


Read more at Bloomberg Bonds News

Australian Dollar Headed for Weekly Drop as Traders Trim Bets on Rate Rise

(Bloomberg) -- The Australian dollar was poised for
a weekly decline as traders pared bets the central bank will
increase the interest rate in the coming two months.

The currency extended its slide from an 18-year high
touched last week after Reserve Bank of Australia Governor Glenn
Stevens yesterday said he has ``time'' to respond to faster
economic growth and inflation. Traders this week almost halved
the odds of a quarter-point rate increase by August, according
to cash rate futures.


Read more at Bloomberg Currencies News

Senators seek Blackstone IPO scrutiny, tax changes

(Reuters) - Montana Democrat Max Baucus and Iowa Republican Charles Grassley, the top members of the Senate Finance Committee, also introduced a bill that would tax private equity firms like corporations, forcing them to pay a rate of up to 35 percent versus the 15 percent rate now paid by partners.




The senators' legislation was applauded by the chairman of the powerful House of Representatives Ways and Means Committee, Democrat Charles Rangel of New York.


Read more at Reuters.com Government Filings News

Japan's Spending on Services Rises 1.7 Percent, Fastest Pace in Six Months

(Bloomberg) -- Spending on services in Japan rose at
the fastest pace in six months in April, signaling consumers will
help drive growth in the world's second-largest economy.

The tertiary index, a gauge of money spent on phone calls,
leisure and shopping, climbed 1.7 percent from March, the Trade
Ministry said in Tokyo today. The median estimate of 37
economists surveyed by Bloomberg News was for a 1.5 percent gain.


Read more at Bloomberg Bonds News

Colombian Congress OKs free trade pact with U.S.

(Reuters) - The bill is headed for a review by the Colombian courts.
Meanwhile, Democrats who control the U.S. Congress say the
measure is not likely to come up for a vote any time soon.




"There is a more work to be done on this. A vote in the
U.S. Congress is certainly not imminent," said Tim Rieser, an
aide to Sen. Patrick Leahy, a Vermont Democrat who has voiced
concern about Colombia's human rights record.


Read more at Reuters.com Bonds News

UPDATE 1-Atari sees about $54 mln in non-cash charge

(Reuters) - The video game publisher said it would delay filing its
annual results as it needs to determine the amount of the
charge, which will be reflected in its fourth-quarter results.




Atari now expects to file the results in late June.


Read more at Reuters.com Government Filings News

Senate panel alleges student lender abuses

(Reuters) - Johns Hopkins reached the settlement with New York Attorney General Andrew Cuomo. Twenty-six schools and seven lenders, including Sallie Mae, JPMorgan Chase and Bank of America, have sealed similar pacts with Cuomo.




The report by the Senate education committee -- which raised questions about relationships between lenders and Texas Tech, UCLA and William and Mary, among many others -- added to previous investigative findings in a scandal that has engulfed the $85 billion student-loan business.


Read more at Reuters.com Government Filings News

Media General newspaper ad sales fall in May

(Reuters) - The forecast appears to be far lower than the 37 cents analysts were expecting on average, barring any exceptional items, according to Reuters Estimates.



"Publishing Division results in May reflected continued significant weakness in classified advertising," Chief Executive Marshall Morton said in a statement. "We were very disappointed to see the retail category decline, a reflection of major retailers holding back on spending in virtually every market."


Read more at Reuters.com Market News

TREASURIES-Bonds fall on mortgage selling, oil's surge

(Reuters) - NEW YORK, June 14 - U.S. government bond prices
slipped in volitile trade on Thursday on mortgage-related
selling, extending a rout that hoisted benchmark 10-year
Treasury note yields to a five year peak.




Treasuries gave up the gains that resulted from Asian
buying and benign comments on inflation by Chicago Federal
Reserve President Michael Moskow as bids were awarded for the
$4 billion sale of mortgage bonds by a Bear Stearns
hedge fund, analysts said.


Read more at Reuters.com Bonds News

AmeriCredit Corp., Goldman Sachs Group Calls: U.S. Equity Options Movers

(Bloomberg) -- The following is a list of companies
with unusual options trading in U.S. exchanges today. Stock
symbols are in parentheses after company names. Options trading
and stock prices are as of 3:30 p.m. in New York.

Each call option gives investors the right, without the
obligation, to buy 100 shares of a company at a specified price
by a given date. A put conveys the right to sell 100 shares.


Read more at Bloomberg Stocks News

Goldman, Bear Stearns struggle with mortgages

(Reuters) - But if earnings reports from the No. 1 and No. 5 U.S. investment banks on Thursday show anything, it's the importance of investment banks not keeping too many eggs in one basket.




Both banks suffered from rising mortgage defaults, which made lenders less likely to make home loans and reduced underwriting volumes.


Read more at Reuters.com Business News

Tyco Bondholders Say Breakup May Be Delayed by Dispute Over Debt Payments

(Bloomberg) -- Tyco International Ltd.'s plan to
break up into three separate companies may be delayed because of
a lawsuit over whether the company has fulfilled its obligations
to bondholders, a group of creditors said.

Tyco failed to obtain debt holders' consent for the
breakup, a committee representing the noteholders said today in
a statement. In a letter to Tyco's board today, the bondholder
committee said the company ``attempted, unsuccessfully, to
coerce the bondholders to accept less than the full amount of
money owed to them.''


Read more at Bloomberg Bonds News

Platinum Rises First Day in Three on South Africa Threat; Palladium Gains

(Bloomberg) -- Platinum rose in New York for the
first session in three on concerns production may be disrupted
in South Africa, source of about 80 percent of the world's
supplies of the precious metal. Palladium also gained.

South Africa's National Union of Mineworkers declared a
dispute with Impala Platinum Holdings Ltd., paving the way for a
legal strike. Impala, the world's second-biggest producer of the
metal, made no offer of a pay increase in talks yesterday.


Read more at Bloomberg Commodities News

TREASURIES-Bonds ease on mortgage-related selling

(Reuters) - Treasuries had carved out some gains on buying out of Asia,
but turned negative as bids were awarded for the $4 billion
sale of mortgage bonds by a Bear Stearns hedge fund,
analysts said.




"The market went down about when the Bear Stearns thing was
to be priced. The 10-year has outperformed to the downside.
That tells me it probably was some of the Bear Stearns stuff
pricing into the market," said Andrew Brenner, markets analyst
at MAN Financial in New York.


Read more at Reuters.com Bonds News

UPDATE 2-MOVES-Alvarez, Cowen, Orrick, Citigroup, S&P, others

(Reuters) - ALVAREZ & MARSAL




Alvarez & Marsal formed a risk management advisory practice
led by managing director Daniel Spragg, who will be based in
Philadelphia. Prior to joining, Spragg was chief underwriting
officer with United National Group.


Read more at Reuters.com Bonds News

Cerberus offers to buy RAG for 8 bln eur - source

(Reuters) - RAG plans to list its energy, chemicals and property units
next year in what would be one of the largest share sales in
post-war German history. Its coal business will not be part of
the flotation.




Read more at Reuters.com Mergers News

UPDATE 1-Freddie Mac sells $1 bln notes in reopen

(Reuters) - The notes, due June 11, 2009 were priced at 99.3619 and
sold at a stop-out rate of 5.339 percent for a 24.5 basis-point
spread over Treasuries, Freddie Mac said. The
bid-to-cover-ratio was 3.41 percent to one.




The total size of the two-year after the reopening is $5.0
billion.


Read more at Reuters.com Bonds News

European Stocks Climb the Most Since March; Michelin, Siemens Pace Gains

(Bloomberg) -- European stocks climbed, sending the
Dow Jones Stoxx 600 Index to its biggest gain in three months, as
concern diminished that interest rates will keep rising. Auto
suppliers and industrial companies led the advance.

Michelin & Cie. and Siemens AG paced gains by companies that
make at least 20 percent of their sales in the U.S. after the
Federal Reserve said the world's largest economy is growing
without spurring inflation. The Stoxx 600 Oil & Gas Index, led by
Total SA, rose the most in a year as oil gained in New York.


Read more at Bloomberg Stocks News

UPDATE 1-Fed's Moskow encouraged by softer inflation-WSJ

(Reuters) - "I'm encouraged to see the gradual reduction we've seen so
far," he told the newspaper in an interview.




One indicator of inflation has come down to the top of the
Federal Reserve's 1-2 percent comfort zone, although the core
consumer prices are still hovering around 2.3 percent.


Read more at Reuters.com Bonds News

Southwest Air, Helped by Fuel Hedge, Still Fights Higher Bills, Kelly Says

(Bloomberg) -- Southwest Airlines Co., the most
profitable U.S. carrier, is wrestling with a rising fuel bill
even after hedging 90 percent of its 2007 needs at below-market
rates, Chief Executive Officer Gary Kelly said.

``The biggest struggle that we've had is energy cost,''
Kelly said yesterday in an interview in New York. ``We're very
well hedged, but even with that our energy prices have gone up
every single year.''


Read more at Bloomberg Exclusive News

US STOCKS-Wall St opens flat after PPI data

(Reuters) - The Dow Jones industrial average was up 4.15 points,
or 0.03 percent, at 13,486.50. The Standard & Poor's 500 Index
was up 0.25 points, or 0.02 percent, at 1,515.92. The
Nasdaq Composite Index was up 2.38 points, or 0.09
percent, at 2,584.69.




Read more at Reuters.com Bonds News

Fed's Moskow encouraged by inflation drop-WSJ

(Reuters) - "I'm encouraged to see the gradual reduction we've seen so
far," he told the newspaper in an interview.




One indicator of inflation has come down to the top of the
Federal Reserve's 1-2 percent comfort zone, although core
consumer prices are still hovering around 2.3 percent.


Read more at Reuters.com Bonds News

Stock exchanges upgraded due high volumes, M&A eyed

(Reuters) - Tougher price competition might dent revenues and trigger
further consolidation among stock exchanges in Europe, the
analysts said.




Citigroup raised its target price for the London Stock
Exchange to 1,370 pence from 1,300 pence, saying
LSE's 56 percent volume growth in January-May outpaced that of
rival exchanges.


Read more at Reuters.com Mergers News

First Charter says made loans in disputed residential projects

(Reuters) - The Attorney General's complaint alleges that various
defendants, including real estate development companies,
engaged in deceptive practices to induce consumers to obtain
loans to purchase lots in The Village at Penland and related
development projects in the Spruce Pine area.





Read more at Reuters.com Government Filings News

Naspers sees FY headline EPS up 10-20 pct

(Reuters) - Africa's largest media firm Naspers said on Thursday it expected full year headline earnings per share to rise between 10-20 percent.

Naspers said in a statement it expected core headline EPS to rise between 25-35 percent.


Read more at Reuters Africa

Freddie Mac posts loss as mortgage market soured

(Reuters) - By Lynn Adler



NEW YORK, June 14 - Freddie Mac, the No. 2 U.S. mortgage finance company, on Thursday reported an unexpected net loss of $211 million for the first quarter, citing a souring outlook for mortgage credit risk that widened credit spreads.


Read more at Reuters.com Bonds News

Canada Energy Stocks, Suncor May Rise on Oil; Toronto-Dominion May Decline

(Bloomberg) -- Canadian energy stocks including Suncor
Energy Inc. may climb along with prices of crude oil.

Gains in the broader market may be limited after a report that
U.S. producer prices rose more than forecast in May stoked concern
that higher inflation may cause the central bank to raise borrowing
costs in Canada's biggest export market.


Read more at Bloomberg Stocks News

UPDATE 1-National City margins fall, says dispute easing

(Reuters) - The eighth-largest U.S. bank said in a U.S. Securities and
Exchange Commission filing that net interest margin fell to
3.63 percent in April and May from the first quarter's 3.69
percent.




National City said declines in nonconforming mortgage and
home equity run-off portfolios offset growth in its core loan
portfolio. Second-quarter net interest income should fall
slightly from the first quarter's $1.11 billion, it said.


Read more at Reuters.com Government Filings News

Producer prices up 0.9 pct in May

(Reuters) - Overall producer prices, which are a measure of prices before they reach the consumer, rose 4.1 percent from a year ago, the biggest year-over-year increase since June 2006. However, core producer prices were up just 1.6 percent from a year ago, and that moderate gain will likely add some relief to Federal Reserve policy-makers as they balance the risks of inflation against economic growth.




Energy prices were up 4.1 percent in May, the biggest monthly rise in six months. That monthly gain was partly due to a 10.2 percent rise in gasoline prices, also the biggest monthly increase since last November.


Read more at Reuters.com Economic News

Gold Declines in London as Dollar's Gain May Curb Demand; Silver Retreats

(Bloomberg) -- Gold declined in London as the dollar
extended gains against the euro, slowing demand for the precious
metal as an alternative investment. Silver also fell.

Gold has dropped in four of the past five weeks as the
dollar rebounded from a record low against the euro in April. The
metal yesterday climbed as the U.S. currency's rally stalled.


Read more at Bloomberg Commodities News

German Utilities Say Cooling-Water Limits Will Reduce Electricity Output

(Bloomberg) -- German utilities said power plant
availability in Germany will be reduced tomorrow because of
cooling-water restrictions.

Capacity at plants in Europe's largest energy market will be
cut by 670 megawatts, operators said today in a joint statement
on the Web site of the European Energy Exchange. The statement
didn't say which plants are affected.


Read more at Bloomberg Energy News

DealTalk: Concerns grow over risky equity bridge loans

(Reuters) - Equity bridge loans allow private equity firms to get investment banks to share in the cash payment on deals. Such loans are great for buyout firms wanting to pursue takeovers without joining forces with competitors, but carry huge risk and skimpy pay-offs for the investment banks.




While this type of lending has been around for decades, the size and frequency of the loans has risen to the point where Goldman Sachs has told its mergers and acquisitions staff to avoid them, according to a banker who works there. Goldman declined to comment about its policy.


Read more at Reuters.com Bonds News

Palm Oil Falls for Second Day on Higher Margins, Lower Export Volumes

(Bloomberg) -- Palm oil futures in Malaysia, the
global benchmark, fell for a second day after the Malaysia
Derivatives Exchange raised trading margins, adding to concerns
among some investors that higher prices may curb overseas demand.

The price, which rose to a record 2,764 ringgit ($797) a
metric ton on June 6, fell yesterday after the exchange raised
margins by as much as 43 percent from today. Palm oil shipments
to China may have dropped by about a quarter this month.


Read more at Bloomberg Commodities News

Crude Oil Rises on Concern About U.S. Fuel Supplies, Iran's Nuclear Plans

(Bloomberg) -- Crude oil rose after a U.S. government
report showed refineries cut their operating rates, raising concern
fuel supplies may fall short of demand this summer.

U.S. refiners used 89.2 percent of their plant capacity last
week, the lowest since May 4 and the lowest rate in 15 years for
that time of year. Iran, the Middle East's second-largest producer
of crude, is advancing its nuclear research, which has been opposed
by the U.S. and allies.


Read more at Bloomberg Commodities News

U.S. Stock-Index Futures Are Little Changed Before Report; Goldman Drop

(Bloomberg) -- U.S. stock-index futures were little
changed before a government report on producer prices that may
show the pace of inflation is picking up.

Goldman Sachs Group Inc. shares declined in Europe before
the world's biggest security firm reports second-quarter
earnings. Bear Stearns Cos., the second-largest U.S. underwriter
of mortgage bonds, may move before it posts results. Separately,
the company is liquidating holdings from one of its hedge funds
after making money-losing bets on subprime home loans, according
to three people with knowledge of the decision.


Read more at Bloomberg Stocks News

S.African trade union NUM declares wage dispute with Impala

(Reuters) - South African trade union, the National Union of Mineworkers (NUM), on Thursday declared a dispute with Impala Platinum (Implats) over its reluctance to put an offer on the negotiation table.

The NUM wants a 15 percent wage increase from Implats -- the world's second biggest platinum producer.


Read more at Reuters Africa

Australian Coal May Gain 8 Percent to Record After Storm Curbs Production

(Bloomberg) -- Export prices for power-station coal
at Australia's largest coal export terminal may rise by as much
as 8 percent to a record after a four-day storm forced producers
to cut shipments, said Australia & New Zealand Bank.

Prices at Newcastle Port may rise to $66 a ton from $61, a
three-year high, if deliveries fail to resume in the next two
weeks, Andrew Harrington, a commodity analyst said by phone
today from Sydney.


Read more at Bloomberg Energy News

South Korea's Kospi Jumps Most in 11 Months; LG.Philips, Exporters Advance

(Bloomberg) -- South Korean stocks jumped the most
in 11 months after U.S. retail sales rose and the Federal
Reserve said growth isn't stoking inflation, damping speculation
interest rates will be increased in the world's biggest economy.
LG.Philips LCD Co. and Hyundai Motor Co. led exporters higher.

``As concerns recede a bit people can see what's really
happening, which is that economies are still strong,'' said Kim
Young Il, who oversees about $1.1 billion as chief investment
officer at Hanwha Investment Trust Management Co. in Seoul.
``There will be rate increases but only enough to control,
rather than cut off economic momentum. It's OK to buy stocks.''


Read more at Bloomberg Stocks News

Shanghai copper tracks LME up, but China worries

(Reuters) - Shanghai copper pushed up on Thursday after a rally in London futures in the previous session on strong U.S. economic data and threats to supply, but sentiment was fragile as investors fretted that Chinese demand may slow.

The most-active August copper contract on the Shanghai Futures Exchange rose 0.75 percent to 63,300 yuan a tonne at midday, from 62,830 yuan on Wednesday.


Read more at Reuters Africa

South Korea's Kospi Rises to Record on U.S. News; LG.Philips Leads Gains

(Bloomberg) -- South Korean stocks jumped to a
record after U.S. retail sales gained and the Federal Reserve
said growth isn't stoking inflation, easing speculation that
interest rates will rise and curb expansion. LG.Philips LCD Co.
rose.

``As concerns recede a bit people can see what's really
happening, which is that economies are still strong,'' said Kim
Young Il, who oversees about $1.1 billion as chief investment
officer at Hanwha Investment Trust Management Co. in Seoul.
``There will be rate increases but only enough to control, rather
than cut off economic momentum. It's OK to buy stocks.''


Read more at Bloomberg Stocks News