Platinum Futures Climb in New York on Supply Concerns; Palladium Declines

(Bloomberg) -- Platinum rose in New York a day after
Anglo Platinum Ltd., the world's biggest producer, said it may
miss its 2007 production target because of strikes and other
stoppages in South Africa. Palladium fell.

Refined platinum production will be 2.6 million to 2.65
million ounces, down from a previous estimate of 2.8 million to
2.9 million ounces, Anglo Platinum Chief Executive Officer
Ralph Havenstein said yesterday.


Read more at Bloomberg Commodities News

Gold Futures Head for Monthly Gain as U.S. Dollar Weakens; Silver Rises

(Bloomberg) -- Gold rose in New York, heading for
the first monthly gain since April, as the dollar's decline
against the euro boosted the appeal of the precious metal as an
alternative investment. Silver also gained.

Gold generally moves in the opposite direction of the U.S.
currency. The metal is up 4.2 percent this month as the dollar
has fallen 1.2 percent against the euro.


Read more at Bloomberg Commodities News

July consumer confidence at 6-year high

(Reuters) - "An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center, in a press release.




The reading was well above expectations. The median forecast of economists polled by Reuters was for 105.0, up from an originally reported 103.9 in June.


Read more at Reuters.com Bonds News

US STOCKS-Indexes add to gains on consumer confidence

(Reuters) - The Dow Jones industrial average was up 126.89
points, or 0.95 percent, at 13,485.20. The Standard & Poor's
500 Index was up 12.93 points, or 0.88 percent, at
1,486.84. The Nasdaq Composite Index was up 21.79
points, or 0.84 percent, at 2,605.07.




Read more at Reuters.com Bonds News

UPDATE 1-CanWest switches to bridge financing for Alliance

(Reuters) - CanWest, Canada's biggest media company, along with a
private-equity affiliate of Goldman Sachs have agreed to
pay C$53 a share to buy Alliance Atlantis, co-producer of the
hit "CSI: Crime Scene Investigation" TV show, and owner of
Canadian specialty-TV channels.




CanWest's AA Acquisition Corp., which will acquire
Alliance, has written commitments from its banking syndicate
for bridge financing to complete the deal, the companies said
in separate statements.


Read more at Reuters.com Bonds News

TREASURIES-Bond prices edge higher as stocks pare gains

(Reuters) - The Dow Jones industrial average traded up 0.4
percent at 13,410 points, well off its earlier session highs.




Read more at Reuters.com Bonds News

Wall St. rises on data, GM earnings

(Reuters) - U.S. stocks climbed on Tuesday after General Motors Corp. added to optimism about corporate earnings and a key inflation indicator showed a smaller-than-expected rise.

GM shares jumped 6 percent to $34.56 after the blue-chip automaker swung to a profit in the second quarter and handily topped Wall Street's expectations. For details, see ID:nN30442082.


Read more at Reuters Africa

OPEC gets cash windfall in 2006 on oil boom

(Reuters) - OPEC's oil and gas export revenue surged 22 percent to a record $649 billion in 2006 as crude prices hit an all-time high and the exporter group pumped close to full tilt, an OPEC report showed on Tuesday.

In the world's biggest oil exporter Saudi Arabia income from petroleum exports, including crude oil, condensates and natural gas liquids, hit $194 billion last year, a rise of 20 percent, OPEC said in its Annual Statistical Bulletin.


Read more at Reuters Africa

US FCC delays vote on wireless auction rules

(Reuters) - FCC Chairman Kevin Martin, a Republican, has proposed
allowing requiring the winning bidders of some of the airwaves
-- to be sold by early next year -- to allow consumers to
connect using any device or software.




The airwaves to be sold in the 700-megahertz band can
travel long distances and penetrate thick walls. The auction
is seen as a last opportunity for a new player to enter the
wireless market.


Read more at Reuters.com Government Filings News

Pardus ups Valeo stake to over 18 percent

(Reuters) - Pardus principal Karim Samii and Valeo chairman and chief
executive Thierry Morin could meet soon as part of Valeo's
roadshow following the first-half results.




Samii said after the May 21 annual meeting he could raise
the stake to 20 percent.


Read more at Reuters.com Mergers News

Advanced Medical asks Bausch & Lomb for more time

(Reuters) - In a filing with the U.S. Securities and Exchange Commission, Advanced Medical also asked for permission to disclose nonpublic information to its shareholders in order to fully brief them on the merits of its bid. Advanced Medical wants to wrest Bausch & Lomb away from its existing agreement to be acquired by private equity firm Warburg Pincus for $3.67 billion.






Read more at Reuters.com Mergers News

WRAPUP 1-U.S. core inflation softens in June

(Reuters) - The 0.1 percent rise in the core personal consumption price
index "should be reassuring to the Fed," said Camilla Sutton,
currency strategist at Scotia Capital in Toronto.




U.S. stock index futures rose on the weak inflation data
and a stronger-than-expected earnings report from General
Motors . U.S. government debt prices fell despite the
inflation report, and the dollar was lower against the euro.


Read more at Reuters.com Economic News

Banco do Brasil, BR Malls, Petrobras, Santos, Vale: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for a
second day. Gains were led by mining company Cia. Vale do Rio
Doce, which is expected to report higher second-quarter earnings.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 704.46, or 1.3 percent, to 55,277.07 as of 9:30
a.m. New York time.


Read more at Bloomberg Stocks News

Chile's Peso Gains on Higher Industrial Production, Copper Price Rebound

(Bloomberg) -- Chile's peso rose after industrial
production rose more than expected and copper, the country's
biggest export, gained because of threatened supply disruptions
caused by striking workers in Mexico.

Industrial production rose 6.7 percent in June from a year
earlier, higher than the 5 percent median forecast from nine
analysts in a Bloomberg survey.


Read more at Bloomberg Currencies News

DuPont to speed up rest of $5 bln share buyback

(Reuters) - DuPont, which announced the $5 billion stock repurchase
plan in October 2005, had previously expected to complete the
share repurchase plan by the end of 2007.





Read more at Reuters.com Bonds News

Entergy, GE-Hitachi in nuclear components deal

(Reuters) - Entergy said it has not yet made a firm decision to build a
new nuclear unit but wants to line up components now to allow
it to do so by 2017.




The company, which says it is the second-largest U.S.
nuclear operator, has operated nuclear plants at both those
sites since the mid-1980s.


Read more at Reuters.com Bonds News

RPT-US home prices fell in May - S&P/Case-Shiller

(Reuters) - The composite month-over-month Standard &
Poor's/Case-Shiller Home Price Index of 10 metropolitan areas
declined 0.3 percent to 218.37, bringing the year-over-year
change to 3.4 percent, S&P said in a press release.




The composite month-over-month Standard &
Poor's/Case-Shiller Home Price Index of 20 metro areas also
showed a 0.2 percent drop, to a 200.04 reading, or a 2.8
percent year-over-year loss.


Read more at Reuters.com Bonds News

UPDATE 1-Rally in US credit markets builds on Monday gains

(Reuters) - The main index of investment-grade credit default swaps
tightened 7 basis points to 61 basis points, while an index of
high-volatility names tightened 23 basis points to 148 basis
points.




"The sort of widening that we saw last Wednesday, Thursday
and Friday -- not only was it irrational, but also completely
unsustainable," an analyst at a major Wall Street firm said.


Read more at Reuters.com Bonds News

UPDATE 2-Shoppers help Canada's economy rebound in May

(Reuters) - OTTAWA, July 31 - Canada's economy grew slightly
less than expected in May but at a still-strong 0.3 percent
pace from the previous month, setting the stage for a second
interest rate hike by the Bank of Canada in September.




Statistics Canada said on Tuesday that a surge in retail
and wholesale trade mainly drove the growth, putting the
economy on track for second-quarter annualized growth of about
3 percent.


Read more at Reuters.com Bonds News

UPDATE 1-Marathon to buy Western Oil Sands for $5.56 bln

(Reuters) - Marathon said it will pay about $3.6 billion in cash plus
34.3 million shares or securities exchangeable for shares. It
will also assume about $650 million of debt.




The company also said its second-quarter profit fell on a
decline in oil and gas output and the absence of a year-ago
gain from the sale of Russian operations.


Read more at Reuters.com Mergers News

Liz Claiborne 2nd-qtr profit falls

(Reuters) - NEW YORK, July 31 - Clothing company Liz Claiborne Inc. said on Tuesday that quarterly profit fell 65 percent, hurt by charges from its restructuring plan and weak sales of its wholesale brands.



The company, which is exploring options for 16 clothing brands while boosting investments in four others, said second-quarter net income fell to $13.6 million, or 13 cents per share, from $39.4 million, or 38 cents per share, a year earlier. Excluding items, profit was 26 cents per share for Liz Claiborne, whose namesake designer died last month after battling cancer.


Read more at Reuters.com Market News

UPDATE 1-Amedisys Q2 profit beats market estimate; ups FY07 view

(Reuters) - Amedisys earned $14.9 million, or 57 cents a share, for the
quarter, on net service revenue of $169.5 million. Analysts on
average expected earnings of 53 cents a share, on revenue of
$160.4 million, according to Reuters Estimates.




The company raised its 2007 earnings outlook to a range of
$2.10 to $2.20 a share from $2.05 to $2.15. Its new estimate on
net service revenue is $650 million to $675 million, up from
its prior view of $625 million to $650 million.


Read more at Reuters.com Market News

IAC/InterActiveCorp quarterly profit rises

(Reuters) - NEW YORK, July 31 - IAC/InterActiveCorp , the Internet conglomerate owned by Barry Diller, said on Tuesday its quarterly profit rose 78 percent, helped by the sale of its European shopping channel and growth at its membership business.



At the same time the company said its key HSN shopping unit posted a slight 1 percent decline in revenue and reported what it said was unexpected softness in U.S. ticket volumes for its Ticketmaster box-office service. Second-quarter net profit rose to $95.97 million, or 32 cents per share, from $53.8 million, or 17 cents per share, a year ago.


Read more at Reuters.com Market News

UPDATE 1-Heidrick & Struggles profit boosted by tax credits

(Reuters) - Net income for the quarter rose to $21 million, or $1.11
per share, from $10.4 million, or 55 cents per share, in the
same period a year ago.




Excluding the $8.5 million tax benefit, earnings would have
been 66 cents per share, the company said.


Read more at Reuters.com Market News

UPDATE 1-Group 1 Automotive's quarterly profit dips

(Reuters) - DETROIT, July 31 - Car dealership chain Group 1 Automotive Inc. said on Tuesday that second-quarter profit fell 3 percent, hurt by declines in new- and used-vehicle revenue.



The Houston-based company, the fourth-largest auto retailer in the United States, said earnings declined to $24.2 million, or $1.01 per share, from $24.9 million, or $1 per share, a year earlier.


Read more at Reuters.com Market News

GM trounces estimates, shares surge

(Reuters) - Excluding such one-time items as charges related to Delphi's bankruptcy, the company said it earned $2.48 a share.




Analysts, on average, had been expecting adjusted earnings of $1.08 a share, according to Reuters Estimates. Forecasts on that basis had ranged from 50 cents per share to $1.64 per share.


Read more at Reuters.com Hot Stocks News

UPDATE 1-Shoppers help Canada's economy rebound in May

(Reuters) - Analysts had forecast, on average, gross domestic product
growth of 0.4 percent after retail sales jumped 2.8 percent in
the month, the biggest monthly gain in nearly a decade.




The economy has expanded by 0.3 percent to 0.4 percent in
five of the seven months since November, largely driven by
domestic demand. Growth was flat in April.


Read more at Reuters.com Economic News

Treasuries Fall as Gains in Corporate Bonds, Stocks Reduce Safety Demand

(Bloomberg) -- Treasuries fell as gains in
corporate bonds and stocks sapped demand for the safety of
government securities.

A rebound in higher-risk assets combined with yields near
the lowest since May provided investors with few reasons to buy
Treasuries. The risk of owning European corporate bonds fell by
a record today, according to traders of credit-default swaps.


Read more at Bloomberg Bonds News

S.Africa June trade deficit higher at 5.31 bln rand

(Reuters) - South Africa recorded a trade deficit of 5.31 billion rand in June, compared to May's 2.67 billion rand shortfall, the South African Revenue Service said on Tuesday.

Economists polled by Reuters last week had forecast a deficit of 3.5 billion rand, but the data is notoriously volatile and difficult to predict.


Read more at Reuters Africa

Futures rise before inflation, other data

(Reuters) - Shares of fast-food chain Wendy's International Inc. will likely be in the spotlight after billionaire Nelson Peltz said his Triarc Cos. Inc. could offer up to $41 a share for the company.




The core personal consumption expenditure index, the Federal Reserve's favorite inflation indicator, is forecast to have risen 0.2 percent in June, according to economists polled by Reuters.


Read more at Reuters.com Business News

Merrill eyes new China partner for JV

(Reuters) - Merrill Lynch signed a non-legal binding agreement in 2005 with Huaan Securities, based in the eastern province of Anhui, and the Chinese broker had agreed to be responsible for seeking government approval, the sources said.




However, they failed to win Beijing's greenlight for the planned venture partly because Chinese securities regulator launched a national campaign in late 2005 to restructure its brokerage sector, once in deep financial trouble, putting Merrill Lynch's plan on hold at the time, the sources said.


Read more at Reuters.com Government Filings News

Goldman set to beat Merrill in Italy property fund

(Reuters) - The fund's manager, Pirelli & C Real Estate ,
recommended on Tuesday that Berenice unit holders accept
Goldman's offer.




It said the offer was 19.8 percent higher than the fund's
net asset value on June 30. It was also 40 percent higher than
Goldman's initial offer of 650 euros, it said.


Read more at Reuters.com Mergers News

UPDATE 1-Sirius Satellite net loss narrows

(Reuters) - Sirius, which has agreed to purchase rival XM Satellite
Radio Holdings Inc. , said its net loss was $134.1
million, or 9 cents a share, compared with a loss of $237.8
million, or 17 cents per share, a year before.




Excluding special items related to stock-based
compensation, the 2007 quarterly loss was 8 cents a share.


Read more at Reuters.com Bonds News

Fording profit drops on lower coal prices

(Reuters) - Analysts expected an average of 64 Canadian cents a unit,
according to Reuters Estimates.




Cash available for distributions to unitholders was C$135
million, or 92 Canadian cents a unit during the quarter, down
from C$147 million or C$1.00 a unit a year earlier.


Read more at Reuters.com Market News

CBS quarterly earnings, revenue drops

(Reuters) - Revenue fell 3 percent to $3.4 billion.




Read more at Reuters.com Market News

UPDATE 1-SABMiller Q1 underlying beer volumes up 13 pct

(Reuters) - "The group has made a strong start to the year," the world's
second-biggest brewer said in a trading update for April-June to
coincide with its annual shareholder meeting.




"Revenue growth was partially offset by higher input costs
and increased investment across the business," the maker of
Miller Lite, Peroni and Castle beers added.


Read more at Reuters.com Market News

UPDATE 1-AEP second-quarter earnings rise

(Reuters) - Excluding special items, AEP said earnings had increased to
64 cents per share from 44 cents.




Analysts on average expected profit of 58 cents per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Heidrick & Struggles profit rises on tax credits

(Reuters) - Excluding the $8.5 million tax benefit, earnings would have
been 66 cents per share, the company said.




Read more at Reuters.com Market News

UPDATE 1-Entergy posts lower 2nd-qtr earnings

(Reuters) - Net income fell to $267.6 million, or $1.32 per share, from
$281.8 million, or $1.33 per share, a year earlier.




Excluding special items, Entergy's earnings rose on higher
energy prices and output at its nuclear units and lower tax
expenses at its wholesale power business. The company earned
$1.32 per share compared with a year-ago profit of $1.22 per
share when it excluded results from its bankrupt Entergy New
Orleans unit.


Read more at Reuters.com Market News

Crude Oil Rises to Near One-Year High as Refiners in U.S. Boost Operations

(Bloomberg) -- Crude oil rose close to a one-year
high on expectations U.S. refiners will step up their
operations, increasing demand for crude.

U.S. Energy Department will probably say tomorrow that
refiners increased operating rates 0.4 percentage point last
week, the sixth weekly gain, according to a Bloomberg News
survey. Crude oil stockpiles probably fell 1.3 million barrels
in the period.


Read more at Bloomberg Energy News

Suez First-Half Sales Rise 5.8 Percent on Higher Power Production, Prices

(Bloomberg) -- Suez SA, the French energy and water
group, reported an 8.5 percent increase in second-quarter sales
as higher electricity prices and output offset lower demand for
natural gas caused by above-average temperatures.

Sales climbed to 11.5 billion euros ($15.8 billion) from
10.6 billion euros a year earlier, Bloomberg calculated from
half-year figures published today by the Paris-based company.
Sales rose 5.8 percent to 23.7 billion euros in the first half.


Read more at Bloomberg Energy News

Price pressures, merger costs hit Alcatel-Lucent

(Reuters) - Alcatel-Lucent, created in December 2006 by the takeover of U.S.-based Lucent by Alcatel of France, has been struggling to win the confidence of customers spooked by uncertainty over the merged group's technology and product choices.




It already warned in April that sales could fall short of earlier targets.


Read more at Reuters.com Business News

CDM Resource Partners files for $169.1 mln IPO

(Reuters) - The company said it plans to list its units on the New York
Stock Exchange.





Read more at Reuters.com Bonds News

Nelnet quarterly net earnings fall

(Reuters) - The Lincoln, Nebraska-based company reported a second-quarter net profit of $14.8 million, or 30 cents a share, compared with $45.8 million, or 84 cents a share, last year.



Excluding discontinued operations, Nelnet said quarterly earnings were 44 cents a share versus 34 cents for the same period a year ago. Analysts on average expected 49 cents a share, before items, according to Reuters Estimates.


Read more at Reuters.com Market News

Lloyds TSB sells Abbey Life as profits, div rise

(Reuters) - LONDON, July 31 - British bank Lloyds TSB sold its Abbey Life insurance unit for almost 1 billion pounds



on Tuesday as it announced a 15 percent rise in underlying earnings and its first dividend hike in five years.


Read more at Reuters.com Mergers News

Corporate Bond Risk Declines by Record In Europe, Halting Three-Day Rout

(Bloomberg) -- The risk of owning European
corporate bonds dropped by a record today, halting a three-day
credit market rout.

Credit-default swaps on 10 million euros ($13.8 million) of
debt included in the iTraxx Crossover Series 7 Index of 50
European companies tumbled as much as 60,000 euros to 402,000
euros, according to JPMorgan Chase & Co.


Read more at Bloomberg Bonds News

S.Korea KOWEPO buys 120,000T S.African coal

(Reuters) - Korea's state-owned utility Korea East-West Power Co. (KOWEPO) bought 120,000 tonnes of South African coal for delivery from September onwards, a company source said on Tuesday.

The purchase was made around July 20, the source said, while declining to comment on the seller and the price.


Read more at Reuters Africa

Suzuki Q1 up as sales advance, Mazda lifted by yen

(Reuters) - Both automakers left their full-year profit forecasts
unchanged citing volatile exchange rates and unpredictable raw
materials prices.




Suzuki has been struggling to keep up with demand as high
fuel prices steer more consumers towards small, fuel-sipping cars
such as its Swift hatchback, particularly in Europe and South
Asia.


Read more at Reuters.com Market News

BSkyB to buy Amstrad from "Apprentice" boss Sugar

(Reuters) - LONDON, July 31 - British pay-TV firm BSkyB
has agreed to buy Amstrad , the consumer
electronics company run by celebrity businessman Alan Sugar, for
125 million pounds .




The 150-pence-a-share cash deal will net around 34.5 million
pounds for Sugar, who founded Amstrad in 1968 and has more
recently found fame on TV reality show "The Apprentice" in
Britain.


Read more at Reuters.com Mergers News

FTSE rallies more than 1 pct; GSK, miners shine

(Reuters) - Britain's top share index rose more than 1 percent on Tuesday, boosted by a jump in GlaxoSmithKline and after an overnight rebound on Wall Street helped to arrest a two-week long decline.

GlaxoSmithKline rallied 3.6 percent after an advisory panel said diabetes drug Avandia should stay on the U.S. market even though data suggest it may increase the risk of heart attack for some patients.


Read more at Reuters Africa