European Bonds Advance as Subprime Woes Send Corporate Debt Risk Soaring

(Bloomberg) -- European government bonds gained for
a fifth day as the risk of owning corporate debt soared to the
highest in at least three years.

Bunds rose, pushing 10-year yields to the lowest in 2 1/2
months, after Germany's IKB Deutsche Industriebank AG reported
losses linked to loans made to U.S. homeowners with poor credit
histories. Government debt dropped earlier on speculation the
European Central Bank will this week reiterate its preference for
higher rates.


Read more at Bloomberg Bonds News

UPDATE 1-ADM quarterly profit rises, ethanol volume down

(Reuters) - ADM has been boosted in the past year by demand for
alternative foods made from crops. But higher corn costs and
lower ethanol volume cut profit in its corn processing business
during the quarter, while oilseed processing profit was hurt by
lower European rapeseed and biodiesel margins, the company
said.




The largest U.S. food processor and ethanol producer, ADM
said earnings rose to $954.8 million, or $1.47 per share, in
the fiscal fourth quarter ended June 30, from $410.3 million,
or 62 cents per share, a year earlier.


Read more at Reuters.com Market News

RadioShack posts quarterly profit

(Reuters) - Analysts expected profit of 25 cents a share, according to Reuters Estimates. It was not immediately clear whether the estimates were comparable.




Sales fell 15 percent to $934.8 million, short of analysts' estimates of $983.6 million. Same-store sales fell 8.9 percent. In its statement, the company said the post-paid wireless business and the closure of 481 stores in 2006 hurt sales.


Read more at Reuters.com Market News

U.S. Two-Year Bonds Advance After Risk of Holding Corporate Debt Surges

(Bloomberg) -- U.S. two-year Treasuries rose after
a gauge of owning corporate debt surged to the highest in at
least three years.

Benchmark 10-year bonds also strengthened, pushing yields
to near the lowest in more than two months, after Germany's IKB
Deutsche Industriebank AG reported losses on U.S. subprime
mortgages. Treasuries extended gains into a fourth week on
concern rising defaults on home loans to people with poor credit
histories will worsen a housing slowdown and hurt economic
growth.


Read more at Bloomberg Bonds News

French Stocks Drop; Societe Generale and Dexia Decline as Michelin Gains

(Bloomberg) -- French stocks fell, paced by lenders
such as Societe Generale SA and Dexia SA.

Michelin & Cie. rose.


Read more at Bloomberg Stocks News

Orthovita announces share offering, debt facility

(Reuters) - In a separate transaction with a securitization vehicle,
Orthovita agreed to repurchase a revenue interest on future
sales of certain Orthovita products.





Read more at Reuters.com Bonds News

Oil holds above $76, supply worries support

(Reuters) - London Brent slipped 36 cents to $75.90. The North Sea benchmark reverted to a discount to U.S. crude last week on signs of lower crude stocks in Oklahoma.




Oil has rallied to within sight of last year's record high of $78.40, although the Organization of the Petroleum Exporting Countries has rebuffed calls from consumers for more crude.


Read more at Reuters.com Business News