Merck KGaA, Comdirect Bank, Gerry Weber, Jenoptik: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 9.49, or 0.1 percent. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX
declined 0.7 percent to 7919.83 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

Acadia, Barnes Group, Cooper, Guess?, Oxford, Volterra: U.S. Equity Previe

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Acadia Pharmaceuticals Inc. (ACAD US) rose $1.83, or 15
percent, to $14.26 in trading yesterday after the official close
of U.S. markets. The developer of drugs to treat central nervous
system disorders was recommended by CNBC host Jim Cramer, who
said the company will benefit from three promising drugs in U.S.
Food and Drug Administration clinical trials.


Read more at Bloomberg Stocks News

Pakistan Air Seeks $532 Million in Its Biggest Loan to Fund Boeing Planes

(Bloomberg) -- Pakistan International Airlines Corp.
will borrow $532 million in its biggest dollar-denominated loan
to fund the purchase of three new planes after the European Union
in March barred most of its fleet from flying into the region.

The airline hired ABN Amro Holding NV to arrange the loans,
M. Abdul Aleem, the Karachi, Pakistan-based carrier's chief
financial officer said in an e-mailed response to questions.
Pakistan's government and the U.S. Export-Import Bank will
guarantee a 12-year, $470 million part of the loan, he said.


Read more at Bloomberg Bonds News

Copper Prices Little Changed in Asia as Recent Gains Viewed as Excessive

(Bloomberg) -- Copper prices were little changed in
Asia as recent gains on declining global inventories were seen
overdone and concern eased that labor disputes in Chile, the
world's biggest producer, may disrupt supply.

Inventories of copper tracked by the London Metal Exchange
dropped for the 12th-straight session to 123,300 metric tons, the
LME said yesterday in a daily report. Inventories in China have
fallen in the past two weeks, the Shanghai Futures Exchange said
on June 1.


Read more at Bloomberg Commodities News

Gold Trades Near Three-Week High in Asia Amid Speculation Euro May Gain

(Bloomberg) -- Gold traded near a three-week high in
Asia amid speculation the euro may gain, boosting demand for the
metal as an alternative investment to a weakening dollar. Silver
was little changed.

Gold generally moves in tandem with the euro which may gain
for a third day against the dollar amid speculation the European
Central Bank will raise interest rates at a policy meeting today.
The U.S. currency fell to a three-week low against the euro
yesterday. Gold has gained 1.7 percent this month.


Read more at Bloomberg Commodities News

Colony Capital to Buy Libya's Tamoil for $5.4 Billion, Defeating Carlyle

(Bloomberg) -- Colony Capital LLC, the property
buyout firm led by billionaire Thomas Barrack, agreed to acquire
control of Libya's Tamoil SA for 4 billion euros ($5.4 billion),
beating out other suitors including Carlyle Group.

The Libyan government will retain a 35 percent stake in the
refiner and gas-station operator, Los Angeles-based Colony said
in a statement today. Owen Blicksilver, a spokesman for Colony,
declined to comment beyond the statement.


Read more at Bloomberg Energy News

Australian Dollar Strengthens to 18-Year High on Faster Economic Growth

(Bloomberg) -- The Australian dollar rose to the
strongest since Feb. 1989 after a government report showed
economic growth in the first quarter was faster than expected.
Bonds fell.

The currency bought 84.13 U.S. cents at 11:37 a.m. in Sydney
from 83.82 cents immediately before the report and 83.83 cents
late in Asia yesterday.


Read more at Bloomberg Currencies News

Google sets Salesforce alliance, shares hit record

(Reuters) - In its latest move, Google joined with marketing software maker Salesforce.com Inc. on Tuesday to say they have developed a new product that lets Google advertising be resold using Salesforce software, as part of a wide-ranging alliance.




Shares of Google, which have topped $500 only three times this year, closed $11.77, or 2.3 percent, higher on Nasdaq.


Read more at Reuters.com Government Filings News

Japan's Nikkei Stock Average, Topix Fall; Honda, Nippon Yusen Lead Drop

(Bloomberg) -- Japan's Nikkei 225 Stock Average
fell 58.50, or 0.3 percent, to 17,995.31 at 9:02 a.m. in Tokyo.
The broader Topix index dropped 3.13, or 0.2 percent, to
1773.43.

Honda Motor Co. and Nippon Yusen K.K. led the declines.


Read more at Bloomberg Stocks News

Japanese Yen, Indian Rupee, Indonesian Rupiah, Baht: Asian Currency Review

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

ABM Industries profit jumps

(Reuters) - Analysts' consensus earnings view for the quarter was 24 cents a share, excluding special items, according to Reuters Estimates.







Read more at Reuters.com Business News

JPMorgan sees big changes in asset allocations

(Reuters) - While there is no one-size-fits-all portfolio, alternatives
-- which also include real estate, private equity and
structured products -- are clearly attracting exponentially
more interest among pension funds as a diversification
strategy, Staley said at a New York news conference.




He said a new model was emerging that calls for investing
about 20 percent of assets into hedge funds, 15 percent into
"hard assets" like private equity and real estate, and another
15 percent into structured notes such as collateralized debt
obligations. The remainder would be in long-only equities and
fixed income funds, he said.


Read more at Reuters.com Bonds News

Yen May Extend Gains Against Dollar, Euro on Concern About Risk Aversion

(Bloomberg) -- The yen may extend its gains against
the dollar and euro amid concern that demand for riskier assets
may decline with central banks in Europe and Asia likely to raise
interest rates in the months ahead.

Japan's yen rebounded yesterday from a record low against
the euro as investors exited so-called carry trades in which they
buy higher-yielding assets financed by loans in Japan. European
Central Bank President Jean-Claude Trichet and U.S. Federal
Reserve Chairman Ben S. Bernanke said yesterday they are
concerned about complacency in global markets.


Read more at Bloomberg Currencies News

US STOCKS-Interest-rate worries drive losses on Wall Street

(Reuters) - NEW YORK, June 5 - U.S. stocks fell on Tuesday
after Federal Reserve Chairman Ben Bernanke warned inflation is
still a major concern, all but dashing remaining hopes for an
interest-rate cut this year.




Surging bond yields not only fueled nervousness about
escalating corporate borrowing costs, but posed stiff
competition to utilities and other stocks that pay high
dividends. FPL Group helped pull the S&P utility index
down 1.5 percent.


Read more at Reuters.com Bonds News

Coffee Futures Rise on Threat of Damaging Frost in Brazil as Winter Nears

(Bloomberg) -- Coffee futures in New York rose as
the arrival of winter weather in Brazil, the world's largest
grower, raised the threat of a damaging frost.

A polar-air mass is over the states of Minas Gerais, Sao
Paulo and Parana, which account for 85 percent of Brazil's
arabica output, according to Climatempo, a Sao Paulo-based
forecaster. The risk of frost helped boost coffee futures
5.4 percent in May, the biggest monthly jump since November.


Read more at Bloomberg Commodities News

U.S. Stocks Fall After Bond Yields Surge; Shares of AT&T, Exelon Decline

(Bloomberg) -- The U.S. stock market posted its
first decline in a week after bond yields surged to a nine-month
high, spurring concern over higher corporate borrowing costs.

AT&T Inc. and Exelon Corp. led losses in telephone
companies and utilities as higher yields reduced the
attractiveness of their dividends. Bed Bath & Beyond Inc., the
largest U.S. home-furnishings chain, fell the most in the
Standard & Poor's 500 after saying profit will trail its
forecast.


Read more at Bloomberg Stocks News

Goldman's Hatzius Eats `Crow,' Drops Forecast for Fed Rate Cuts This Year

(Bloomberg) -- Goldman Sachs Group Inc. became the
latest Wall Street firm to capitulate and drop its forecast for
the Federal Reserve to lower borrowing costs this year.

``Mmhhh, crow,'' Jan Hatzius, chief U.S. economist, started
off a note to clients today explaining why New York-based Goldman
now expects the central bank to keep its target rate at 5.25
percent. Hatzius cited a resilient labor market and a
reacceleration of growth in the industrial sector of the economy.


Read more at Bloomberg Bonds News

Whole Foods, Wild Oats to challenge FTC lawsuit

(Reuters) - Whole Foods, the largest natural and organic grocer,
announced plans to buy Wild Oats in February, after coming
under increased pressure from mainstream grocers that were
selling more organic, natural and prepared fare.




In May, Whole Foods said that staff members of the Federal
Trade Commission had voiced concerns over the anti-competitive
impact of the planned acquisition.


Read more at Reuters.com Government Filings News

UPDATE 1-Fed banks wanted flat discount rate in April, May

(Reuters) - The minutes of meetings of the Washington-based Fed Board
of Governors, which must approve changes in the discount rate
governing Fed lending to commercial banks, showed that Fed
regional bank directors agreed with the current stance of
steady monetary policy with a close eye on incoming economic
data.




The board approved their requests to keep the discount rate
steady at 6.25 percent on April 23 and on May 7. The Fed's
policy setting Federal Open Market Committee maintained the
more important federal funds rate on May 9 at 5.25 percent.


Read more at Reuters.com Bonds News

American Woodmark, Inter-Tel, Hallwood, Telik, Trump: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Shares prices are as of 1:10 p.m. New York time.

Amazon.com Inc. (AMZN US) rose $2.86, or 4.1 percent, to
$73.28 and traded as high as $73.93. The world's biggest online
retailer had its share-price forecast increased 27 percent to
$79 at Banc of America Securities, which cited ``strong revenue
growth'' and said the company may increase profitability from
digital media downloads.


Read more at Bloomberg Stocks News

US's Paulson-Chinese market volatility should ease

(Reuters) - "The Chinese market will have less volatility when it is
more fully developed and more competitive," he said.




Read more at Reuters.com Bonds News

S.African stocks close higher, but rate jitters remain

(Reuters) - South African stocks posted slight gains on Tuesday as profit taking and speculation over an anticipated interest rate hike continued to dictate activity on the market.

The Johannesburg Top-40 index of blue chip stocks rose 0.12 percent to close at 25,965.94 points, while the All share index inched up 0.1 percent to close at 28,865.90 points.


Read more at Reuters Africa

Amazon, Brown-Forman, Cache, Ciena, Inovio, Senomyx: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Shares prices are as of 11:40 a.m. New York time.

Amazon.com Inc. (AMZN US) rose $2.39, or 3.4 percent, to
$72.81 and traded as high as $73.93. The world's biggest online
retailer had its share-price forecast increased 27 percent to $79
at Banc of America Securities, which cited ``strong revenue
growth'' and said the company may increase profitability from
digital media downloads.


Read more at Bloomberg Stocks News

Ericsson to sell Planet EV platform to CTS International

(Reuters) - Planet EV is a network planning platform for network
design, optimization and data management acquired by Ericsson
in 2006 along with other business assets from Marconi.





Read more at Reuters.com Mergers News

Soybeans Rise in Chicago on Increased Global Demand for Vegetable Oils

(Bloomberg) -- Soybean futures in Chicago climbed,
extending a rally to a 35-month high, as demand for vegetable
oil to make fuel reduced global inventories for food use.
Soybean oil rose to a 23-year high.

Demand for U.S. soybeans, which are crushed to produce
animal feed and vegetable oil for food and fuel, has increased
as palm-oil futures in Malaysia jumped to a record. Palm oil has
surged 87 percent in the past year on concern that supplies from
Southeast Asia will trail global demand. Soybean oil in Chicago
has jumped 44 percent in the past year.


Read more at Bloomberg Commodities News

UPDATE 1-Feldman Mall to explore strategic alternatives

(Reuters) - In a statement, the real estate investment trust, which
went public in December 2004, said it has retained Friedman
Billings Ramsey & Co. Inc. to assist it in exploring these
alternatives to enhance shareholder value.




Shares of the Great Neck, New York-based company rose
almost 7 percent to $12.15 in morning trade on the New York
Stock Exchange.


Read more at Reuters.com Mergers News

Mexican stocks fall on U.S. rate outlook; peso off

(Reuters) - Fed Chairman Ben Bernanke said the U.S. economy is set to
grow at a sluggish pace in coming months but he warned that
there are risks that elevated rates of inflation excluding food
and energy may not recede.




That is a letdown for investors hoping for a U.S. rate cut,
which could make Mexican securities more attractive.


Read more at Reuters.com Bonds News

Bradesco, Cosan, JBS, Vale do Rio Doce: Brazil Equity Market Movers

(Bloomberg) -- Brazil's main stock index fell for a
second day, led by mining company Cia. Vale do Rio Doce.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 197.72, or 0.4 percent, to 53,044.96 as of 10:18
a.m. New York time.


Read more at Bloomberg Stocks News

Nymex Natural Gas Declines as Storage Forecast Eases Worries Over Supply

(Bloomberg) -- Natural gas fell in New York as buyers
slowed purchases of the power-plant and furnace fuel after
concerns of higher prices dissipated on forecasts for a third
consecutive storage rise of 100 billion cubic feet.

Analysts and traders said they're anticipating another rise
in storage of about 100 billion cubic feet for last week as mild
weather kept air-conditioning demand in check. An increase of 100
billion or more would be the third week in a row that storage has
risen at that level, according to Energy Department data.


Read more at Bloomberg Energy News

Commerzbank shares up on Citigroup bid talk: traders

(Reuters) - Commerzbank declined comment on the market rumor. Its shares were the top gainers in the DAX 30 share index , which was up 0.1 percent.




Sue Harnett, Citigroup's head of German operations told Reuters in late March that Citigroup was on the lookout for acquisitions in Germany and could swoop on a big bank.


Read more at Reuters.com Hot Stocks News

Dollar Drops to More Than Two-Week Low Against Euro on Bernanke's Comments

(Bloomberg) -- The dollar dropped to a more than
two-week low against the euro as Federal Reserve Chairman Ben S.
Bernanke said a slowdown in housing construction will remain a
drag on economic growth ``somewhat longer'' than expected.

The U.S. currency also dropped against the yen and pound as
Bernanke said tighter lending standards for mortgages will
``restrain'' housing demand. The dollar fell earlier on
speculation the European Central Bank and the Bank of England
will signal higher interest rates at meetings this week,
increasing the value of local currencies.


Read more at Bloomberg Currencies News

Crude Oil Falls on Speculation U.S. Refineries Bolstered Fuel Production

(Bloomberg) -- Crude oil fell on speculation that a
government report will show that U.S. refineries increased fuel
production.

Gasoline stockpiles increased 1.55 million barrels last
week, according to the median of responses by 12 analysts in a
Bloomberg News survey. Supplies of distillate fuel, a category
that includes heating oil and diesel, rose 800,000 barrels, the
survey showed. Prices also fell on reduced concern that Tropical
Cyclone Gonu will curb oil shipments from the Middle East.


Read more at Bloomberg Energy News

True Religion completes strategic review; to focus on growth

(Reuters) - Chief Executive Jeffrey Lubell said the company's stock was
undervalued, and that he expected its consumer direct segment
to "grow significantly in the next three years."





Read more at Reuters.com Mergers News

TREASURIES-Bernanke a small buffer for falling bond prices

(Reuters) - Nyk yield
Three-month bills 4.816
Six-month bills 4.968
Two-year note 4.971
Five-year note 4.923
10-year note 4.946
30-year bond 5.037




Read more at Reuters.com Bonds News

FTSE dips as rate concerns offset strong insurers

(Reuters) - The FTSE 100 of Britain's leading shares reversed earlier gains on Tuesday as worries over interest rates verdicts due later in the week offset the positive impact of insurers and a turnaround in Chinese markets.

At 1127 GMT the FTSE 100 was down 6.0 points, or 0.09 percent at 6,658.1.


Read more at Reuters Africa

South Africa's Main Union May Strike, Closing Platinum, Gold, Coal Mines

(Bloomberg) -- South Africa's biggest labor union,
the National Union of Mineworkers, said it plans to join a strike
by state employees in an action that may close the world's
biggest platinum and chrome mines.

The NUM, based in Johannesburg, has 280,000 members who also
work at some of the world's largest gold and coal operations as
well as in construction.


Read more at Bloomberg Emerging Markets News

U.S. Treasuries Decline as Traders Reduce Bets on Fed Interest-Rate Cut

(Bloomberg) -- U.S. Treasuries fell before a private
sector survey today that's forecast to show U.S. services last
month expanded at close to the fastest pace since January.

Benchmark 10-year yields are close to a nine-month high as
signs economic growth is quickening prompts investors to reduce
bets the Federal Reserve will cut interest rates this year. Ten-
year notes had the biggest one-day drop in almost two months on
June 1 when a report showed the U.S. economy added more jobs than
forecast by economists.


Read more at Bloomberg Bonds News

European Stocks Erase Gains; Ryanair, Intermediate Capital Group Decline

(Bloomberg) -- European stocks erased gains as
Ryanair Holdings Plc, the region's biggest low-fare airline, and
Intermediate Capital Group Plc declined.

The Dow Jones Stoxx 600 Index was little changed, slipping
less than 0.1 percent to 398.94 as of 12:09 p.m. in London after
advancing as much as 0.3 percent. The Stoxx 50 and the Euro Stoxx
50, a measure for the 13 nations sharing the euro, were also
little changed.


Read more at Bloomberg Stocks News

CDC Corp. 1st qtr revenue rises 41.4 pct

(Reuters) - Adjusted net income for the latest quarter was $9.85
million, the company added.





Read more at Reuters.com Market News

UPDATE 1-TNK-BP's net profit up 40 pct in 2006

(Reuters) - TNK-BP International combines TNK-BP Holding plus half of
oil production venture Slavneft and a controlling stake in Rusia
Petroleum, the licence holder of the giant Kovykta gas field.




The company's total sales rose 18 percent in 2006 to $35.512
billion but net revenue was only 11 percent up at $24.66 billion
as export duties and excise taxes jumped 35 and 58 percent
respectively to $10.1 billion and $765 million.


Read more at Reuters.com Market News

Nickel Drops, Snapping Two Days of Gains, on Stockpile Surge; Lead Falls

(Bloomberg) -- Nickel declined in London, snapping
two days of gains, after stockpiles climbed to the highest in
almost 11 months. Lead fell on prospects of increased supply as
Xstrata Plc said it will lift restrictions on metal deliveries
from its U.K. smelter after a five-month disruption.

Inventories of nickel tracked by the London Metal Exchange
jumped 6.3 percent to 8,460 metric tons, the exchange said today in
a daily report. That's the highest since July 10 last year.
Production will beat usage by 70,000 tons this year, reversing the
2006 shortage, the International Nickel Study Group said on May 14.


Read more at Bloomberg Commodities News

Tower Semi in talks to buy AMD equipment -paper

(Reuters) - Tower also intends to raise $40 million in a bond offering
to Israeli institutional investors, the paper said.




Tower officials declined to comment.


Read more at Reuters.com Bonds News

FTSE up on Vodafone, insurers; Daily Mail down

(Reuters) - Britain's leading share index edged up early on Tuesday, helped by a turnaround in the Chinese markets and gains in insurers and index heavyweight Vodafone.

At 0804 GMT the FTSE 100 was up 9.6 points, or 0.14 percent at 6,674.3.


Read more at Reuters Africa

Malaysia Ringgit to Rise 3 Percent in 2007 on Resilient Exports, HSBC Says

(Bloomberg) -- The Malaysian ringgit will rise 3
percent by year-end as the central bank permits gains and exports
withstand a stronger currency, said HSBC Holdings Plc.

The currency, up 3.8 percent this year and close to the
strongest since 1998, reflects the nation's economic fundamentals,
Bank Negara Malaysia Governor Zeti Akhtar Aziz said May 30. It
contrasts with China and South Korea that are seeking to boost
outflows to stem gains in their currencies.


Read more at Bloomberg Currencies News

China shares close up 2.6 pct in wild trade

(Reuters) - The index had tumbled as much as 21 percent since last Wednesday, when authorities hiked the stock trading tax to cool a bull run.




Rumors spread on Tuesday afternoon that officials from the securities regulator, the finance ministry and other agencies, concerned by the plunge, planned a meeting to discuss how to stabilize stocks.


Read more at Reuters.com Hot Stocks News

ICICI Bank May Sell $2.5 Billion of Stock Overseas, People Familiar Say

(Bloomberg) -- ICICI Bank Ltd. may sell as much as
$2.5 billion of shares overseas in the biggest such offering by
an Indian company, three people with direct knowledge of the
matter said.

The Mumbai-based bank has sought regulatory approval to sell
American depositary receipts as early as this month, the people
said, requesting anonymity before an official statement. The sale
is part of a planned offering announced in April that may raise
up to $5 billion.


Read more at Bloomberg Emerging Markets News