Gold in Asia Advances on Increased Jewelry Demand; Silver Little Changed

(Bloomberg) -- Gold rose in Asia for the fourth day
in five as demand increased from jewelers, the biggest users of
the precious metal. Silver was little changed.

Good demand for the metal from India and Turkey emerged
earlier this week, Goldman Sachs JBWere analysts, led by Malcolm
Southwood, said in a report on July 10. Jewelers accounted for 69
percent of first-quarter gold consumption, from 61 percent a year
earlier, the producer-funded World Gold Council said May 16.


Read more at Bloomberg Commodities News

UPDATE 1-Essilor H1 underlying sales rise 8.4 pct

(Reuters) - The world's largest maker of corrective eye lenses said total
sales rose to 1.475 billion euros from 1.362
billion euros, up 8.3 percent.




The company has a medium-term forecast of like-for-like
sales growth between 5 to 6 percent a year.


Read more at Reuters.com Market News

Orica May Boost Stock Buyback After Failed Dywidag Offer, Macquarie Says

(Bloomberg) -- Orica Ltd., the world's largest
explosives maker, may have the funds to buy more of its own
shares after failing to take over Dywidag-Systems International
GmbH, Macquarie Bank Ltd. said.

Melbourne-based Orica has A$1 billion ($861 million) of
debt capacity to fund takeovers, growth or capital management,
Macquarie analysts led by John Purtell said today in a note to
clients. The company may complete its current buyback
``swiftly'' since failing to buy Dywidag, the note said.


Read more at Bloomberg Commodities News

Essilor sees H1 sales rises 8.4 pct like-for-like

(Reuters) - The company has a medium-term forecast of like-for-like
sales growth between 5 to 6 percent a year.




Jefferies International had forecast first-half sales of
1.449 billion euros and underlying growth -- excluding the
impact of currencies, acquisitions or disposals -- of 7.5
percent, while Oddo Securities had estimated sales at 1.445
billion with underlying growth of 7.6 percent.


Read more at Reuters.com Market News

GlaxoSmithKline, Ryanair, Cadbury, Shell, LSE: 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 market close.

The benchmark FTSE 100 Index fell 15.80, or 0.2 percent, to
close at 6615.10 in London. The FTSE All-Share Index declined
9.83, or 0.3 percent, to 3413.09.


Read more at Bloomberg Stocks News

China Foreign Direct Investment Rises 12 Percent in First Half of Year

(Bloomberg) -- Foreign direct investment in China,
the world's fastest-growing major economy, climbed 12.2 percent
in the first half from a year earlier.

Spending rose to $31.9 billion, the Ministry of Commerce
said today on its Web site. The pace has quickened from a 9.9
percent increase in the first five months. For June alone,
foreign direct investment jumped 21.9 percent to $6.6 billion.


Read more at Bloomberg Emerging Markets News

Goldman's Ong Misses Chief Job in China, Doesn't Meet Language Requirement

(Bloomberg) -- Goldman Sachs Group Inc., the world's
most profitable investment bank, couldn't name the co-head of
investment banking in Asia as chief executive officer of its
Beijing joint venture because his knowledge of Chinese was too
weak, three bankers at the firm said.

Richard Ong, an ethnic Chinese born in Malaysia, didn't
write Chinese well enough to take a mandatory test for senior
managers, said the bankers, declining to be identified as the
matter is private. New York-based Goldman instead promoted Zha
Xiangyang, deputy CEO of its China joint venture, Goldman Sachs
Gao Hua Securities Co., in May.


Read more at Bloomberg Emerging Markets News

Yen Strengthens as Traders Reduce Bets Before BOJ's Interest-Rate Decision

(Bloomberg) -- The yen gained against the dollar and
the euro as traders reduced risk before a two-day Bank of Japan
interest-rate meeting ends today.

The Japanese currency benefited from speculation policy
makers will signal the central bank may raise borrowing costs as
soon as next month after leaving them on hold today at 0.5
percent. A survey of 34 economists showed 21 expect the BOJ to
raise the rate to 0.75 percent in August.


Read more at Bloomberg Currencies News

Asian Shares Rise, Led by BHP Billiton, Posco, on Metals Prices, Takeovers

(Bloomberg) -- Asian stocks climbed, led by BHP
Billiton Ltd., on higher commodity prices and speculation of
further takeovers in the metals industry.

Rio Tinto Group, the world's third-largest mining company,
rose to a record after the Times of London said it's set to bid
for Alcan Inc. South Korea's Posco paced a rally in steelmakers
after Chaparral Steel Co. agreed to be bought for $4.22 billion.


Read more at Bloomberg Stocks News

South Korea's Kospi Index Climbs; Samsung Electronics, Posco Lead Gains

(Bloomberg) -- South Korean stocks advanced. Samsung
Electronics Co. gained after Korea Investment & Securities Co.
raised its price estimates for chipmakers, saying demand for
memory will rise.

Posco rose after Daishin Securities Co. lifted its price
estimate, citing a possible rebound in steel prices.


Read more at Bloomberg Stocks News

Sallie deal at risk as buyers question conditions

(Reuters) - The Sallie Mae buyers blamed proposals to cut government subsidies to student lenders, but analysts said the group may want an excuse to pull out or to negotiate a lower price given recent difficulties in raising financing in the debt market.




In another sign that buyers may be holding back, General Electric Co. and Abbott Laboratories Inc. said on Wednesday they terminated a proposed $8 billion deal for the sale of two Abbott diagnostics units to GE, saying they were unable to agree on terms.


Read more at Reuters.com Hot Stocks News

Japan's Small-Cap Stocks Rally as Tougher Accounting Rules Buoy Confidence

(Bloomberg) -- Shares of Japan's smallest listed
companies, Asia's worst performers last year, are staging a
comeback as tougher accounting standards revive confidence in
earnings reports and consumer spending rebounds.

The Russell/Nomura Small Cap Index, whose 1,332 members
have an average market value of $630 million, has outperformed
the Nikkei 225 Stock Average in six of the last seven weeks. The
measure trailed the Nikkei in all but two of the previous 17
months after executives of Internet provider Livedoor Co. were
arrested in January 2006 for fabricating profits, sparking
investor concern about the finances of second-tier companies.


Read more at Bloomberg Stocks News

Motorola, Abbott Laboratories Fall; American Eagle Gains: U.S. After-Hours

(Bloomberg) -- Motorola Inc. fell in extended U.S.
trading after the world's second-biggest maker of mobile phones
said it had a quarterly loss as sales missed its forecasts for
the third time this year.

Shares of the Schaumburg, Illinois-based company declined
25 cents, or 1.4 percent, to $17.70 as of 6:36 p.m. in New York.
Motorola said in a preliminary statement that it had a second-
quarter loss of as much as 4 cents a share. Sales were between
$8.6 billion and $8.7 billion, the company said. That compares
with Motorola's April prediction for per-share earnings of as
much as 3 cents on sales of $9.4 billion.


Read more at Bloomberg Stocks News

Australian Dollar Climbs to Highest in 18 Years in Early Trading in Sydney

(Bloomberg) -- The Australian dollar rose to 86.41
U.S. cents in early Sydney trading, the highest since February
1989. It was up from 86.17 cents late yesterday in Asia.

To contact the reporter on this story:
David McIntyre in Sydney at
dmcintyre2@bloomberg.net


Read more at Bloomberg Currencies News

UPDATE 1-US certifies Virgin America Airlines for service

(Reuters) - The carrier plans to start flying in August from its San
Francisco base. Virgin America will fly new Airbus A319s and
A320s and plans to serve up to 10 cities within a year of its
launch. Routes will be announced in the coming weeks.




Virgin America won regulatory approval of its business plan
in May after agreeing to restructure its investor financing --
including millions from Branson's interests -- and promising to
replace its chief executive, Fred Reid, to satisfy a U.S. law
that limits overseas influence in domestic airlines.


Read more at Reuters.com Government Filings News

UPDATE 1-Ruby Tuesday net profit down, shares drop

(Reuters) - The company's shares fell over 3 percent in after-hours
trading.




Fourth-quarter net income was $24.7 million, or 46 cents
per share, compared with $31.7 million, or 53 cents per share,
a year ago, the company said.


Read more at Reuters.com Market News

GE and Abbott end $8 bln deal for diagnostics business

(Reuters) - General Electric said on January 18 that it would buy two of Abbott's diagnostics units for $8.13 billion in cash.




In a statement, Abbott said its second-quarter, 2007 and 2008 forecasts, excluding special items, remain unchanged.


Read more at Reuters.com Mergers News

UPDATE 1-U.S. House slashes student lender subsidies

(Reuters) - WASHINGTON, July 11 - The U.S. House of
Representatives voted 273-149 on Wednesday to slash federal
subsidies paid to college student-loan companies such as Sallie
Mae and Citigroup and boost grants to students,
ignoring a White House veto threat.




The House bill and a similar measure in the Senate have
been attacked by the $85 billion student-loan industry, but
championed by industry critics, including some student groups.


Read more at Reuters.com Bonds News

U.S. Stocks Rebound on Takeovers; Yum!, Steelmaker Shares Lead Advance

(Bloomberg) -- U.S. stocks rose after takeover
speculation swept through the metals industry and Federal
Reserve officials said the economy will weather the home loan
crisis.

Nucor Corp. and Alcoa Inc. led the Standard & Poor's 500
Index to its sixth gain in seven days after Chaparral Steel Co.
agreed to be bought for $4.22 billion and the Times of London
reported Alcan Inc. may be the target of a bidding war. Yum!
Brands Inc., owner of the Pizza Hut and Taco Bell chains,
climbed on a UBS AG report predicting it will buy back stock.


Read more at Bloomberg Stocks News

Copper Gains in New York on Concern Chilean Strikes May Disrupt Supplies

(Bloomberg) -- Copper gained in New York on concern
strikes would disrupt supplies from Chile, the world's largest
source of the metal.

Contract workers at Chile's state-owned Codelco, the world's
largest copper producer, walked off the job on June 25. A strike
at Dona Ines de Collahuasi, Chile's third-largest copper mine, is
in its third day. Copper has gained 7.9 percent in the past month
on labor unrest and falling global stockpiles.


Read more at Bloomberg Commodities News

UPDATE 1-Ameriprise unit fined in mutual fund kickback case

(Reuters) - NEW YORK, July 11 - In what it called the first
case of its kind, the NASD on Wednesday said it fined the
Securities America Inc. unit of Ameriprise Financial Inc.
$375,000 for improperly sharing directed brokerage
commissions from a mutual fund company with a single broker.




The regulator also charged the broker, Michael Bullock,
with receiving more than $280,000 of improper compensation. It
said he failed to disclose the kickbacks to his union
retirement plan clients, even as he advised those clients to
maintain or include the fund company's mutual funds in their
plans.


Read more at Reuters.com Government Filings News

Fire breaks out at unused Miami airport tower

(Reuters) - Flames and heavy, black smoke were seen coming from the tower in television pictures of the fire.




Chin said the tower was not being used yet and there were no reports of injuries.


Read more at Reuters.com Bonds News

Motorola shares rise on rumors CEO may step down

(Reuters) - Jackson became the figurehead for widespread shareholder dissatisfaction at Yahoo Inc. after standing up at the company's annual meeting in June and asking then-Chief Executive Terry Semel to apologize to shareholders. A week later, Semel was replaced.




"There are rumors Zander may be resigning," said Charter Equity Research analyst Ed Snyder. "This would increase confidence that a serious restructuring is afoot."


Read more at Reuters.com Hot Stocks News

Chico's, Compuware, Freeport, Morgans Hotel, Willbros: 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.
Share prices are as of 1:10 p.m. New York time.

Chaparral Steel Co. (CHAP US) rose $8.06, or 11 percent, to
$83.75. Gerdau Ameristeel Corp., the U.S. unit of Latin America's
biggest steelmaker, said in a statement that it agreed to buy the
company for $4.22 billion.


Read more at Bloomberg Stocks News

US Rep. Frank says he expects hedge fund data bill

(Reuters) - He also said the committee would hold a hearing this autumn
to examine the role credit rating agencies may have played in
valuing subprime packages.




Bear Stearns Cos. Inc. recently said it would
provide about $1.6 billion to bail out one of its two
struggling hedge funds that had big losses by making bad bets
tied to subprime mortgage loans, which are held by consumers
with weak credit.


Read more at Reuters.com Government Filings News

UPDATE 1-Moody's may cut $5.0 bln of CDO RMBS tranches

(Reuters) - Moody's said the CDO tranches affected were rated "Baa" or
lower and the move follows cuts it made on Tuesday to 399 RMBS
secured by subprime mortgage loans. Moody's also placed 32
additional issues under review for downgrade on Tuesday.




"The rating actions taken today were based on the CDOs'
current respective portfolios and the CDOs' structures,"
Moody's said. The rating agency said it was reviewing whether
current ratings assigned were still consistent with revised
loss expectations.


Read more at Reuters.com Bonds News

UPDATE 1-Mass. probes big banks over sales to investors

(Reuters) - William Galvin, the state's Secretary of the Commonwealth,
is probing some of America's biggest banks at a time when
so-called structured products are becoming extremely popular on
Wall Street, but customers may not be aware of their risks.




Products such as equity-indexed annuities are often sold by
brokerages and insurers and can be expensive and carry heavy
penalties for early withdrawals.


Read more at Reuters.com Government Filings News

Oil Is Little Changed After Report Shows U.S. Inventories Fell Last Week

(Bloomberg) -- Crude oil was little changed after a
government report showed that U.S. inventories fell for the
first time in six weeks.

Stockpiles dropped 1.46 million barrels to 352.6 million in
the week ended July 6, the report from the U.S. Energy
Department showed. Inventories at Cushing, Oklahoma, where oil
traded in New York is delivered, fell for a seventh straight
week.


Read more at Bloomberg Energy News

UPDATE 1-New Brunswick to be taken private by Eppendorf

(Reuters) - Eppendorf said it will acquire all common shares of New
Brunswick for $11.50 per share, 43 percent more than the
company's Tuesday closing price of $8.03.




New Brunswick shares were up more than 39 percent to $11.20
in morning trade on the Nasdaq.


Read more at Reuters.com Mergers News

Crude Oil Falls After U.S. Gasoline Inventories Increase for Second Week

(Bloomberg) -- Crude oil fell after an Energy
Department report showed that U.S. gasoline inventories rose for
a second week.

Gasoline stockpiles climbed 1.14 million barrels to 205.6
million in the week ended July 6, the report showed. Eighteen
analysts in a Bloomberg News survey expected an increase of
825,000 barrels, based on the median of estimates.


Read more at Bloomberg Commodities News

Mexico's peso weakens on concerns about US economy

(Reuters) - The peso came under pressure on Tuesday after ratings
agencies downgraded more than $17 billion in mortgage related
debt in the United States, with Standard & Poor's saying it
expects U.S. home prices to drop 8 percent.




Mexico sends nearly 90 percent of its exports to the United
States, so what is bad for the U.S. economy is bad for Mexico.


Read more at Reuters.com Bonds News

US SEC adopts rule to protect hedge fund investors

(Reuters) - The rule targeting fund advisors who make false or
misleading statements to investors and comes as Congress
scrutinizes the roughly $1.5 trillion hedge fund industry,
which often employs high-risk techniques to pull in tremendous
returns.




The SEC's adoption of the rule comes a year after a federal
court quashed the agency's first attempt to oversee the lightly
regulated industry by overturning a requirement that hedge fund
advisors register with the agency.


Read more at Reuters.com Government Filings News

Egyptian shares drop on profit-taking, OCI down

(Reuters) - Egypt's main indexes dipped on Wednesday after scoring fresh closing highs for three consecutive sessions, led by profit-taking in heavyweight Orascom Construction Industries, traders said.

"Despite good news coming on OCI's new airport deals, people chose to offload the stock among other market leaders. They got worried that the market reached the ceiling of the its rally," said Sarah Tolba of Delta Securities.


Read more at Reuters Africa

U.S. home sales, prices to slip more this year: NAR

(Reuters) - The National Association of Realtors trimmed its sales forecast for the fifth straight month and also widened its predicted drop in existing home values.




Existing-home sales are seen at 6.11 million units this year, down from the 6.18 million units it predicted last month. Sales in 2007 will be the lowest since 2002 when 5.63 million existing homes were sold. Even with the decline, this year would rank as the fifth highest on record, the trade group said.


Read more at Reuters.com Bonds News

FACTBOX-Florida to join U.S. states in global warming fight

(Reuters) - **Require electric utilities to reduce their greenhouse gas emissions to 2000 levels of utility sector emissions by 2017, to 1990 levels by 2025 and to not greater than 20 percent of 1990 levels by 2050.




**Require electric companies to produce 20 percent of their electricity from renewable sources with a focus on solar and wind power.


Read more at Reuters.com Government Filings News

Dendreon, ENSCO, Noble, GlobalSantaFe, Innovo, Savient: 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.
Share prices are as of 9:30 a.m. New York time.

Oil-service companies: Merrill Lynch & Co. downgraded some
oil-service companies on concern that oil prices will fall and
producer demand will wane. Noble Corp. (NE US), GlobalSantaFe
Corp. (GSF US) and Diamond Offshore Drilling Inc. (DO US) were
cut to ``neutral'' from ``buy.'' Shares of Noble, the fourth-
largest U.S. oil and gas driller by market value, fell $1.64, or
1.6 percent, to $99.55. Shares of GlobalSantaFe Corp., the
world's second-largest offshore oil and gas driller, fell $1.67,
or 2.3 percent, to $72.16. Shares of Diamond, the world's third-
largest oil and natural-gas driller by market value, fell $1.84,
or 1.8 percent, to $103.49. ENSCO International Inc. (ESV US),
which was reduced to ``sell'' from ``buy,'' fell $1.63, or 2.6
percent, to $61.66.


Read more at Bloomberg Stocks News

Nymex Natural Gas Rises on Revised Forecasts for Warmer Weather in U.S.

(Bloomberg) -- Natural gas futures in New York rose
on an outlook for above-normal temperatures to blanket the U.S.
from California to Maine starting next week, sparking increased
electricity demand.

Hot weather is highly probable in those regions July 18 and
last through July 24, according to an eight to 14-day temperature
outlook from the Climate Prediction Center in Camp Springs,
Maryland. The center today revised an earlier forecast calling
for normal to below-normal temperatures for the period.


Read more at Bloomberg Energy News

Liz Claiborne CEO gives upbeat long-term outlook

(Reuters) - McComb also said sales to retailer Macy's Inc. should account for about 12 percent of Liz Claiborne sales in 2007, but should drop to below 10 percent in 2008 as the company seeks to reduce its reliance on department stores, which are consolidating and pushing their own in-house brands.




Read more at Reuters.com Mergers News

Copper steadies, lead hits new record

(Reuters) - London Metal Exchange copper futures steadied during open outcry trade on Wednesday, keeping a close eye on disturbances caused by strikes at the world's biggest copper miner.

Traders said the market was still consolidating after sharp gains to two-month highs at the start of the week.


Read more at Reuters Africa

Shell Signs Agreements on Qatar Liquefied Gas Supply, Shipping Management

(Bloomberg) -- Royal Dutch Shell Plc, Europe's
largest oil company, signed agreements giving it access to all
the liquefied natural gas from a new project in Qatar and a 25-
year service contract to manage a fleet of 25 Qatari LNG
carriers.

``First LNG cargoes are scheduled for delivery around the
end of the decade,'' Shell said today in an e-mailed statement.
The Qatargas 4 project is owned 70 percent by Qatar and 30
percent by Shell.


Read more at Bloomberg Energy News

UPDATE 1-Ventana rejects Roche's $3 bln takeover offer

(Reuters) - The diagnostics company said in a statement its board
determined that the $75 per share offer is "inadequate in
multiple respects and contrary to the best interests of
Ventana's stockholders."




Already one of the world's largest diagnostic companies,
Roche announced late last month it would launch a hostile offer
for Ventana. The deal represented a 45 percent premium to
Ventana shares at the time.


Read more at Reuters.com Mergers News

French Stocks Drop; Michelin, Alcatel, Alstom Shares Pace Decline

(Bloomberg) -- French stocks fell for a second day
on concern that subprime mortgage losses in the U.S. will hurt
economic growth.

Michelin & Cie., Alcatel-Lucent and Alstom SA slid.


Read more at Bloomberg Stocks News

Digital Music in reverse takeover deal with Orchard

(Reuters) - Under the terms, Digital Music would issue about 9.1 million common shares and around 4.5 million shares of convertible preferred stock to Orchard's shareholders, who would own 60 percent of the combined company.




Orchard's president and chief executive, Greg Scholl, would lead the combined company, while Digital Music CEO Mitchell Koulouris would leave to pursue other interests.


Read more at Reuters.com Mergers News

Sport bodies win round on EU reform, fight goes on

(Reuters) - European soccer's UEFA welcomed the EU executive's long-awaited reform paper published on Wednesday covering television rights, transfers, security and gambling.




But a deal by EU leaders in June on the outline of a new treaty for the bloc, including a clause on sport, has raised the prospect of Brussels proposing tougher laws in the future.


Read more at Reuters.com Business News

Yen Erases Gains on Speculation It Has Rallied Too Far, Too Quickly

(Bloomberg) -- The yen erased gains against the
dollar and the euro as a technical chart indicated its advance in
the past two days has been too fast.

Against the euro, the Japanese currency traded at 167.40,
after rising to as much as 166.51, and was at 121.77 versus the
dollar, down from 120.99 in Asian trading.


Read more at Bloomberg Currencies News

Treasuries Rise, Pushing 10-Year Yield to Lowest in Month, on Subprime

(Bloomberg) -- U.S. Treasuries rose after Moody's
Investors Service cut the ratings on $5.2 billion of bonds
backed by subprime mortgages, spurring demand for the safest
assets.

Benchmark 10-year bonds gained for a third day, pushing
yields to the lowest in more than a month. German bunds also
advanced and Japanese government debt rallied the most in 10
months on speculation a deepening U.S. housing slump will slow
the world's biggest economy. Stocks fell in the U.S., Europe and
Asia, and the risk of owning European corporate bonds soared.


Read more at Bloomberg Bonds News

Tullow Cuts 2007 Production Forecast on Drilling Delays, U.K. Gas Prices

(Bloomberg) -- Tullow Oil Plc, an explorer on three
continents, cut its full-year production forecast because of
drilling delays and lower gas prices in the U.K.

Tullow expects output for 2007 to average between 72,000
and 75,000 barrels of oil equivalent a day, it said in a
statement distributed by the Regulatory News Service today. The
company said in March that average daily production this year
would exceed 80,000 barrels a day and that daily output may
reach 85,000 barrels by the end of the year.


Read more at Bloomberg Energy News

OPEC can do nothing about high oil price: Qatar

(Reuters) - The Organisation of the Petroleum Exporting Countries, supplier of more than a third of the world's oil, was ready to boost supply if the market needed it, Abdullah al-Attiyah told reporters.




"OPEC cannot do anything about it," Attiyah said. "The world is facing a shortage of gasoline and diesel, but not crude oil. If the market needs more oil, OPEC will do its utmost but it needs to be convinced that there is a shortage."


Read more at Reuters.com Business News

Philippine Bonds Slide After Government Debt Sale: World's Biggest Mover

(Bloomberg) -- Philippine bonds fell, the biggest
fluctuation of any government debt market today, on speculation
the nation will allow borrowing costs to rise after accepting
higher bids at an auction yesterday.

Five-year bond yields rose the most in more than a year
after the Bureau of the Treasury yesterday accepted bids as high
as 7.049 percent for four-year debt, exceeding yesterday's yield
in secondary market trading. Economic Planning Secretary Romulo
Neri said the budget deficit may reach 100 billion pesos ($2.2
billion) this year.


Read more at Bloomberg Bonds News

Crude Oil Falls Amid Speculation Gains Driven by Gasoline Were Unjustified

(Bloomberg) -- Crude oil fell from near an 11-month
high in New York on speculation recent gains were unjustified.

Crude oil had gained along with gasoline, which rose 5.4
percent in the past five trading days after reports that BP Plc
closed units at its refinery in Whiting, Indiana, and refiners in
Texas and Kansas halted units as well.


Read more at Bloomberg Energy News

U.K. Stocks Fall, Led by HSBC, HBOS Amid Subprime Concern; BP, Shell Drop

(Bloomberg) -- U.K. stocks declined, paced by HSBC
Holdings Plc and HBOS Plc on concern losses in subprime mortgages
in the U.S. will erode economic and earnings growth.

BP Plc and Royal Dutch Shell Plc also dropped.


Read more at Bloomberg Stocks News

Malaysian Palm Oil Rises on China Demand, Discount to Rival Soybean Oil

(Bloomberg) -- Palm oil futures in Malaysia, the
benchmark for the contract, rose on the outlook for Chinese
demand, and as its price compares favorably with soybean oil,
the main rival product.

China, the largest buyer of vegetable oils, imported 32
percent more of them in the first six months of the year, or 3.7
million tons, Chinese customs data showed yesterday. Palm oil is
used in foods, cleaning agents and as a fuel additive.


Read more at Bloomberg Commodities News