S.African stocks slide as Harmony tumbles; Sasol up

(Reuters) - South African stocks slid to their lowest level in more than 4 months on Monday after gold producer Harmony Gold forecast a fourth-quarter loss and announced the shock exit of its CEO, hitting mining shares.

The Johannesburg Top-40 index of blue-chip stocks fell 2.5 percent to 24,292.15 points, its lowest level since March 28. The All-share index fell 2.46 percent to 26,904.48 points.


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Rosetta says in partial settlement with Calpine

(Reuters) - This agreement does not resolve the claims Calpine has
asserted against Roestta, which remain pending, according to
Rosetta.





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Mercury General quarterly profit rises

(Reuters) - Net premiums earned increased slightly to $754.1 million
from $753.4 million a year ago.




Analysts on average expected the company to earn $1.09 a
share, before items, according to Reuters Estimates.



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UPDATE 1-Amedisys to buy IntegriCare home health, hospice assets

(Reuters) - Beyond home health, this deal will also provide a moderate
expansion to Amedisys' existing hospice business, the company's
Chief Executive William Borne said in a statement.




IntegriCare operates 19 home health locations in nine
states, including Alaska, Colorado, Idaho, Kansas, New
Hampshire, Oregon, Wyoming, and the Certificate of Need states
of Washington and West Virginia, Amedisys said.


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Wal-Mart, India's Bharti sign cash-and-carry deal

(Reuters) - The first cash-and carry store is targeted to open by the end of 2008. The venture would employ about 5,000 people in 7 years.




Foreign multiple brand retailers in India, one of the world's fastest-growing consumer markets, are limited to cash-and-carry and franchise or license operations.


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Lead Falls in London on Speculation Supply Shortage to Ease; Nickel Drops

(Bloomberg) -- Lead fell for the first time in five
days in London on speculation that mine production will expand
later this year, easing a supply shortage. Copper, nickel and
zinc also declined.

Apex Silver Mines Ltd.'s San Cristobal mine in Bolivia and
expansions to Australian mines operated by BHP Billiton Ltd.,
Teck Cominco Ltd. and Xstrata Plc will boost lead output by the
end of 2007, said David Thurtell, an analyst at BNP Paribas.


Read more at Bloomberg Commodities News

Gold hits one-week high on weaker dollar

(Reuters) - Gold climbed to its highest level in more than a week on Monday as a slump in the dollar supported the metal, but weakness in stock markets might cap price gains, analysts said.

Spot gold rose as high as $676.50 an ounce before easing to $673.85/674.45 by 1008 GMT, against $674.10/674.90 late in New York on Friday.


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EU clears Barclays bid for ABN AMRO

(Reuters) - The clearance has no bearing on who may actually win a
bidding war pitting Barclays against a consortium also seeking
control of the Netherlands' largest bank.




The rival consortium is made up of Belgian-Dutch financial
services group Fortis , Royal Bank of Scotland
and Spain's Santander , which have offered 71
billion euros.


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S.Africa inflation risks on upside - IMF

(Reuters) - South Africa's inflation risks are on the upside and there may be a need for monetary policy tightening, the International Monetary Fund said on Monday.

In an annual report on the continent's biggest economy, the IMF predicted that the country's economy would grow by 4.8 percent in 2007, and 4.5 percent in 2008.


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U.S. wants OPEC to pump more oil as inventories fall

(Reuters) - "I'm concerned that we probably are going to need more oil and I'm hopeful that the OPEC ministers at their meeting in about a month from now will agree to that," Bodman said in an interview on




CNBC.


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Sappi Has Third-Quarter Profit on Higher Paper Prices in Europe, Exports

(Bloomberg) -- Sappi Ltd., the world's largest maker
of glossy paper, posted a fiscal third-quarter profit after
raising prices in Europe and lifting exports.

Net income was $53 million, or 23 cents a share, in the
three months through June, compared with a $53 million loss a
year earlier, Johannesburg-based Sappi said in a stock exchange
statement today. Sales gained 6.8 percent to $1.3 billion.


Read more at Bloomberg Emerging Markets News

Samsung to boost chip production after disruption

(Reuters) - Samsung's sprawling Kiheung complex was hit by a power shortage on Friday afternoon that shut down six of its chip production lines, raising the prospect of price increases and boosting shares of rival memory chip makers.




Shares in Samsung, the world's top memory chip maker, fell 1.02 percent, while rival Hynix Semiconductor Inc. , the second biggest, rose 0.67 percent in a falling Seoul share market as the firm is seen benefiting from Samsung's troubles.


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Fortis opens shareholder meeting on ABN buy

(Reuters) - Fortis is seeking approval for its proposed involvement and
for a 13 billion euro rights issue to help finance the deal.
Analysts have said they expect Fortis to win backing for both.




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European shares open 1 pct down, echoing Wall St

(Reuters) - European shares fell 1 percent at the opening on Monday, taking their cue from Friday's decline on Wall Street which was triggered by investment bank Bear Stearns saying credit markets were in their worst shape in two decades.

"Financial markets reflect a normalisation in risk tolerance -- the fall in equities being a function of rising cost of capital for the broad corporate sector and asset quality risks for the global financial sector," JPMorgan said in a note.


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Rand softer, to remain under pressure

(Reuters) - South Africa's rand started the week on the backfoot versus the dollar and will probably remain under pressure as investors continue to fret over woes in the U.S. mortgage credit sector.

The rand was trading at 7.1525 versus the dollar at 0625 GMT, about 0.4 percent softer than its New York close of 7.1250 on Friday.


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