Gold extends gains, weak yen lifts Tokyo

(Reuters) - Cash gold extended gains on Friday on steady bargain hunting, which, combined with a weak yen -- hovering at a 4- year low against the dollar -- also helped lift Tokyo futures.

While some dealers said gold's prospect looked a bit brighter since it recovered from a three-month low of $642.90 hit on Wednesday, others were of the view that the precious metal could come under pressure again.


Read more at Reuters Africa

RPT-Spain's Portland mulls Texas Industries buy -paper

(Reuters) - The paper said Portland had for some time been studying the
acquisition of TXI, market leader in Texas and with a presence
in California, after buying two Spanish producers last year.




Expansion said Portland declined to comment on the report.


Read more at Reuters.com Mergers News

Yen Falls Against Euro, New Zealand Dollar After BOJ Leaves Rate Unchanged

(Bloomberg) -- The yen fell to a one-week low
against the euro on speculation Bank of Japan Governor Toshihiko
Fukui will signal plans to raise the overnight lending rate only
gradually after leaving it unchanged today.

The currency also slid against the New Zealand and
Australian dollars after policy makers unanimously decided to
keep the benchmark rate at 0.5 percent for a fifth meeting.
The yen traded near a 4 1/2-year low against the dollar as the
lowest borrowing costs in the industrialized world spur
investors to take out loans in Japan and buy higher-yielding
assets in so-called carry trades.


Read more at Bloomberg Currencies News

Value of Japan Households' Mutual Funds and Bonds Increases to Record High

(Bloomberg) -- The value of mutual funds and bonds
held by Japanese households surged to a record last quarter, as
the lowest interest rates among major economies prompted
individuals to shift money from savings accounts in search of
higher returns.

Mutual funds held by households rose 5.2 percent to 68
trillion yen ($552 billion) in the three months ended March 31,
the Bank of Japan said in its quarterly flow of funds report in
Tokyo today. Bonds owned by households climbed 3.2 percent to 33
trillion yen.


Read more at Bloomberg Bonds News

UPDATE 2-Steel Partners raises Bull-Dog Sauce bid by 7 pct

(Reuters) - It will also extend its tender offer until Aug 10. The
previous offer, at 1,584 yen per share, was set to expire on June
28.




Steel Partners said it sought an injunction from the Tokyo
District Court on Wednesday to bar the Worcestershire sauce maker
and its directors from activating takeover defence measures.


Read more at Reuters.com Mergers News

U.S. Treasuries Head for Sixth Weekly Decline Before Consumer Price Report

(Bloomberg) -- U.S. Treasuries headed for a sixth
weekly decline as a government report today will probably show
inflation quickened last month.

Regular 10-year notes yielded about 2.47 percentage points
more than 10-year Treasury Inflation Protected Securities, near
the widest since April, a sign of increasing demand for notes
that hedge against rising prices. A Labor Department report may
show the consumer price index rose 0.6 percent in May, from 0.4
percent in April, according to a Bloomberg News survey.


Read more at Bloomberg Bonds News

South Korea's Kospi Is Little Changed; SK Corp. Rises, LG.Philips Falls

(Bloomberg) -- South Korea's Kospi index swung
between gains and losses. SK Corp. rose after Daewoo Securities
Co. said earnings will improve on strong refining margins.

LG.Philips LCD Co. declined as some investors judged recent
gains excessive.


Read more at Bloomberg Stocks News