Top music companies show interest in Univision unit

(Reuters) - The Spanish-language broadcaster is trying to trim debt
since its $12.3 billion buyout by private investors in March,
one source said.




Meetings between management and some suitors are also set
to begin this week, according to a second source. The unit
could fetch as much as $400 million, according to the Financial
Times.


Read more at Reuters.com Mergers News

UPDATE 1-Pitney Bowes posts profit, US equipment sales rise

(Reuters) - The company, whose mailing meters are a fixture in
corporate offices, said second-quarter net income was $152.2
million, or 68 cents a share, compared with a net loss of
$356.1 million, or $1.59 per share, a year earlier.




Excluding accounting changes and charges, adjusted earnings
from continuing operations rose to 71 cents a share from
earnings of 64 cents a share in the period a year ago.


Read more at Reuters.com Market News

UPDATE 2-Cedar Fair denies story about takeover talks

(Reuters) - "We have never at any point in time been contacted by the New York Post for a comment for this article," Cedar Fair spokeswoman Stacy Frole said.




A spokesman for the paper said it was standing by the story.


Read more at Reuters.com Mergers News

Yen May Extend Decline Against Euro, Dollar as Stock Rally Encourages Risk

(Bloomberg) -- The yen may extend its decline
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.

The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.


Read more at Bloomberg Currencies News

US STOCKS-Profit optimism, financials fuel Wall St's rebound

(Reuters) - NEW YORK, July 30 - U.S. stocks rebounded on
Monday after a global equity sell-off last week, as optimism
about earnings resurfaced and concern about credit conditions
eased.




Financial shares, which have borne the brunt of fallout
from tightening credit markets, bounced back in part after
ratings agency Standard & Poor's upgraded Morgan Stanley's
debt.


Read more at Reuters.com Bonds News

Profit optimism, financials fuel Wall St.'s rebound

(Reuters) - Financial shares, which have borne the brunt of fallout from tightening credit markets, bounced back in part after ratings agency Standard & Poor's upgraded Morgan Stanley's debt.




Sentiment about the sector also improved after the bailout of a hedge fund steeped in subprime mortgage market losses and a home lending unit of GMAC reported narrowing losses. General Motors Corp. shares rose 4.9 percent, boosting the Dow.


Read more at Reuters.com Business News

Asian Stocks Rebound From Rout in U.S. Trading; HSBC Climbs on Earnings

(Bloomberg) -- Asian stocks trading in the U.S.
rebounded from their biggest weekly drop in more than four months
after HSBC Holdings Plc and PT Telekomunikasi Indonesia reported
higher earnings.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, rose 1.9 percent, the most
since May 11, to 167.96. The measure last week declined 3.8
percent, the most since the period ended March 2.


Read more at Bloomberg Stocks News

Dow Jones, Graham, Ingersoll and Rural Cellular: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges. Stock
symbols are in parentheses after company names. Share prices are
as of 4 p.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

UPDATE 1-Insurer Principal Financial posts higher earnings

(Reuters) - Net earnings increased to $303.8 million, or $1.12 a share,
from $210.5 million, or 76 cents a share, in the year-earlier
quarter.




Operating earnings, which analysts use to measure
performance because it excludes investments, were $282.9
million, or $1.05 a share.


Read more at Reuters.com Market News

US STOCKS-Indexes end higher in rebound from sell-off

(Reuters) - Based on the latest available data, the Dow Jones
industrial average rose 92.84 points, or 0.70 percent,
to end unofficially at 13,358.31. The Standard & Poor's 500
Index was up 14.96 points, or 1.03 percent, to finish
unofficially at 1,473.91. The Nasdaq Composite Index
was up 21.04 points, or 0.82 percent, to close unofficially at
2,583.28.




Read more at Reuters.com Bonds News

BP Says CATS North Sea Pipeline to Restart in September After Repair Work

(Bloomberg) -- BP Plc said divers completed an
inspection of the damaged CATS natural gas pipeline in the North
Sea and a permanent repair will be required before the pipeline can
resume operating in September.

``A metal sleeve will be installed to strengthen and protect
the affected area of pipeline,'' BP said in an e-mailed statement
today. ``Design and fabrication of the sleeve is already under way
and it is expected that the system will restart during September.''


Read more at Bloomberg Energy News

Director buys $1 million of Marriott stock

(Reuters) - Small, who was once president and chief operating officer of Fannie Mae , has served as a Marriott director since 1995, according to the company' Web site.




Small's buy represented a switch in a pattern of insider selling at the company, according to filing tracking Web site InsiderScore.com.


Read more at Reuters.com Hot Stocks News

Treasuries Drop Most in Two Weeks, Signaling Investors Accepting More Risk

(Bloomberg) -- Treasuries declined the most in two
weeks as U.S. stocks rebounded, suggesting investors were
becoming more comfortable with risk after last week's $2.1
trillion global equity sell-off.

A gauge of momentum suggested that a rally that sent yields
to the lowest since May 17 was poised to stall. U.S. government
debt last week posted its biggest weekly advance in 10 months on
speculation the subprime mortgage crisis will slow the economy,
and an index of Treasury market volatility rose to the highest
since March 2005.


Read more at Bloomberg Bonds News

Emerging-Market Bonds Rebound, Following Equities as Risk Aversion Recedes

(Bloomberg) -- Emerging-market bonds rose, erasing
earlier losses, as gains in global stock markets prompted
investors to buy riskier, higher-yielding securities.

Developing nation debt is rebounding from declines spurred
by concern losses from subprime mortgages may spread to other
markets. The extra yield investors demand to hold emerging-
market bonds today fell to its lowest since July 25. The Dow
Jones Industrial Average advanced almost 1 percent.


Read more at Bloomberg Emerging Markets News

UPDATE 1-US corporate bond market losing dominance - NY Fed

(Reuters) - Corporate bond issuance in the Eurobond market exceeded
those of the U.S. bond market in 2006.




U.S issuers followed the trend by relying more on the
Eurobond market for funding, a study titled "Evaluating the
Relative Strength of the U.S. Capital Markets" showed.


Read more at Reuters.com Bonds News

GMAC CFO says ResCap's liquidity sufficient

(Reuters) - Earlier Monday, finance company GMAC posted a 63 percent
decline in quarterly profit, hurt by a $254 million loss at
ResCap. Last year, General Motors Corp. sold a majority
stake in GMAC.





Read more at Reuters.com Market News

CNA, Dow Jones, Ingersoll, RadioShack, Rural Cellular: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 2:40 p.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

Cotton Futures Rise on Speculation U.S. Farmers May Further Cut Acreage

(Bloomberg) -- Cotton rose to a one-week high in New
York on speculation farmers will switch acres to other crops
because of concern a World Trade Organization ruling may threaten
U.S. subsidies for growers of the fiber.

The WTO ruled last week the U.S. failed to overhaul its
subsidies to growers sufficiently to comply with trade rules, the
U.S. Trade Representative's office and Brazil said. U.S. farmers
cut cotton acreage by 28 percent this year from 2006, with many
switching to corn after it rallied to a 10-year high in February.


Read more at Bloomberg Commodities News

UPDATE 1-Cedar Fair says not in takeover talks

(Reuters) - The New York Post earlier on Monday reported that Cedar
Fair was in talks to be taken over by investment firm Destiny
Capital in a deal worth $4.1 billion.




"An article today reports a claim by an organization
referred to as 'Destiny Capital' that constructive negotiations
with the company have been undertaken. We are not currently in
negotiations with that organization or any other party," said
Cedar Fair Chief Executive Dick Kinzel in a statement.


Read more at Reuters.com Bonds News

GM, Ford, Toyota Back New U.S. Mileage Goals to Stave Off Stricter Rules

(Bloomberg) -- Automakers are embracing legislation
in the U.S. House that would raise fuel-economy standards,
abandoning years of resistance because of concerns they might
otherwise be forced to accept even tougher measures.

An industry group representing General Motors Corp., Ford
Motor Co., Toyota Motor Corp. and six other auto companies is
backing a bill that would require a more than one-quarter
increase in average vehicle mileage by 2022. Competing measures
in the House and Senate mandate stricter requirements that would
compel earlier compliance and probably cost the industry more.


Read more at Bloomberg Energy News

Alberto-Culver profit falls, still eyeing deals

(Reuters) - The company, which makes such products as Alberto VO5 shampoo, is still looking for acquisitions, particularly in skin care and possibly beauty care, Chief Executive V. James Marino told Reuters.




Alberto-Culver is a smaller company focused on consumer products after spinning off Sally Beauty Holdings Inc. , its retail arm and the larger of its two businesses, in November. The company announced a restructuring plan in December.


Read more at Reuters.com Market News

US STOCKS-Profit optimism lifts Wall St gloom

(Reuters) - NEW YORK, July 30 - U.S. stocks rose in choppy
trade on Monday after Wall Street's worst week in nearly five
years as optimism about the earnings outlook offset concerns
about the deteriorating credit market.




Expectations for quarterly earnings growth by Standard &
Poor's 500 companies were raised to 6.8 percent compared with
the year-ago period from 6.0 percent expected one week earlier,
according to Reuters Estimates.


Read more at Reuters.com Bonds News

UPDATE 1-Hedge fund Citadel takes over Sowood's credit fund

(Reuters) - BOSTON, July 30 - Hedge fund Citadel Investment
Group, LLC said on Monday that it took over Sowood Capital's
credit portfolio following speculation last week that heavy
losses might force the smaller hedge fund to shut down.




Chicago-based Citadel, which manages $14 billion, came to
the rescue after Boston-based Sowood, which managed $3 billion,
got into trouble with bond trades this summer. Rumors that
Sowood might be forced to shut down roiled financial markets
late last week.


Read more at Reuters.com Bonds News

U.S. Stocks Rebound on Upgrades; KB Home, Nordstrom, Terex Shares Advance

(Bloomberg) -- U.S. stocks rebounded, pacing a
global advance, after Wall Street brokerages told investors to
buy shares that fell during last week's $2.1 trillion global
sell-off.

KB Home led homebuilders higher after Citi Investment
Resarch raised the shares to ``buy.'' Nordstrom Inc. posted its
steepest gain since August on a Goldman, Sachs & Co. upgrade.
Terex Corp., the maker of trucks and cranes, surged the most in
three weeks and led the Standard & Poor's 500 Index higher
after Goldman, Sachs & Co. advised clients to buy the shares.


Read more at Bloomberg Stocks News

US STOCKS-Indexes gain on profit hopes in seesaw trading

(Reuters) - The Dow Jones industrial average was up 57.72
points, or 0.44 percent, at 13,323.19. The Standard & Poor's
500 Index was up 7.79 points, or 0.53 percent, at
1,466.74. The Nasdaq Composite Index was up 12.69
points, or 0.50 percent, at 2,574.93.




Read more at Reuters.com Bonds News

TREASURIES-Bonds fall as stocks turn higher

(Reuters) - Bond prices mainly have been moving in the opposite
direction of stocks -- when stocks slide, fearful investors
turn to the relative safety of bonds, and when stocks show
signs of life, bonds retreat.




"I really think Treasuries are just watching stocks -- we
have no other drivers for today," said Beth Malloy, bond market
analyst at Briefing.com in Chicago, adding "we are also weighed
by last week's rally."


Read more at Reuters.com Bonds News

UPDATE 4-RadioShack posts profit but sales weaken

(Reuters) - ATLANTA, July 30 - RadioShack Corp. reported a second-quarter profit on Monday on cost cutting, but sales missed Wall Street estimates, sending shares of the consumer electronics retailer tumbling 13 percent.



"The sales performance continues to be weak," said Tiffany Co, a director in the retail group with Fitch Ratings. She said declining sales would eventually cut into earnings.


Read more at Reuters.com Market News

Mexico Bolsa Rises Most in Month on Analyst Upgrades: Latin America Stocks

(Bloomberg) -- Mexico's Bolsa index rose the most in
four weeks after analysts advised investors to buy companies with
better-than-expected profit growth.

Mexico's Bolsa index rallied 556.58, or 1.8 percent, to
30,791.75 as of 12:50 p.m. New York time, led by mobile phone
company America Movil SAB. It gained the most since July 3.


Read more at Bloomberg Stocks News

UPDATE 1-Russel Metals second-quarter profit drops

(Reuters) - Russel, one of the largest metals distribution companies in
North America, said it earned C$29.3 million ,
or 47 Canadian cents a share, in the quarter ended June 30,
down from C$46.2 million, or 74 Canadian cents a share, in the
year-earlier quarter.




Sales for the Mississauga, Ontario-based company were C$653
million, down from C$686 million.


Read more at Reuters.com Market News

UPDATE 1-EXCO to form master limited partnership unit

(Reuters) - BANGALORE, July 30 - Oil and gas producer EXCO
Resources Inc. on Monday said it plans to form a master
limited partnership and make an initial public offering
of $1.5 billion of common units in the subsidiary.




The company plans to use the MLP as a tax-efficient vehicle
to pursue acquisition of additional mature producing
properties, either from EXCO or from third parties, the Dallas,
Texas-based company said in a statement.


Read more at Reuters.com Government Filings News

US STOCKS-Credit worries drag on stocks, offset profit view

(Reuters) - NEW YORK, July 30 - U.S. stocks traded little
changed in erratic trading on Monday after Wall Street's worst
week in nearly five years as concerns about the deteriorating
credit market countered optimism about the earnings outlook.




Tightening lending standards threatened to slow or halt the
heavy pace of corporate buyouts, including several major deals
by private equity firms, which have fueled a rally in stocks.


Read more at Reuters.com Bonds News

Canadian Stocks Rebound From Biggest Weekly Loss in 6 Years; Barrick Gains

(Bloomberg) -- Canadian stocks rose after investors
speculated that the biggest weekly sell-off in almost six years
was overdone given that demand for commodities may keep boosting
prices and earnings, and trigger more takeovers.

Barrick Gold Corp. paced gains in raw-material shares, which
had among the biggest declines last week, on higher prices for
bullion and natural gas. Canadian Pacific Railway Ltd. led
industrial companies higher.


Read more at Bloomberg Stocks News

UPDATE 1-Luby's shareholder urges company to hire adviser

(Reuters) - In a letter to the company, investment adviser Ramius
Capital Group LLC said its RCG Starboard Advisors LLC unit owns
about 6.5 percent of Luby's shares making it the largest
shareholder.




Luby's, which has seen three straight quarters of falling
earnings, was not immediately available for comment.


Read more at Reuters.com Mergers News

European Stocks Fall, Led by IKB, UBS, Commerzbank; ICI Gains on New Bid

(Bloomberg) -- European stocks fell for a fifth day,
led by financial-services companies after IKB Deutsche
Industriebank AG of Germany said profit will be ``significantly''
lower than forecast, hit by the U.S. subprime mortgage rout.

IKB tumbled 20 percent. UBS AG, the biggest money manager,
and 3i Group Plc, Europe's largest publicly traded buyout and
venture-capital firm, led declines by financial companies.
Commerzbank AG slid after saying it expects to make provisions
for losses tied to the U.S. subprime mortgage market.


Read more at Bloomberg Stocks News

Most U.S. Stocks Drop on Lending Conern; Energy Shares, Exxon Mobil Fall

(Bloomberg) -- Most U.S. stocks declined, dragging
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.

Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices from an almost one-year high.


Read more at Bloomberg Stocks News

SABIC buys into $1.5 bln Mauritania iron project

(Reuters) - Saudi Basic Industries Corp. (SABIC), the Gulf's largest steel producer, said on Monday it agreed to take a 35 percent stake in a 5.6 billion riyal iron ore project in Mauritania.

SABIC's share of the project to produce iron ore pellets is costing $262 million, it said in a statement on the Saudi stock exchange Web site.


Read more at Reuters Africa

Sugar Rises on Prospect Rally in Crude Oil Prices Boosting Ethanol Demand

(Bloomberg) -- Sugar in New York gained on
speculation rising crude oil prices will boost demand for
ethanol, diverting sugar cane away from production of the
sweetener in Brazil.

Crude oil reached an 11-month high of $77.33 a barrel in
New York today after gaining for seven straight weeks. Brazil,
the biggest producer of sugar-cane based fuel and sweetener, has
boosted ethanol production while cutting back on sugar output so
far this season.


Read more at Bloomberg Commodities News

UPDATE 2-Bausch & Lomb allows rival bidder to show info

(Reuters) - 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.




But Advanced Medical's offer has been opposed by its
third-largest shareholder, ValueAct Capital. A lack of support
by a key investor makes Advanced Medical's offer more risky,
analysts have said.


Read more at Reuters.com Government Filings News

U.S. Treasury to sell $26 bln 4-week bills

(Reuters) - Threshold $9.1 bln
NLP Exclusion




Amt $11.2 bln


Read more at Reuters.com Bonds News

Crude Oil Slips on Speculation U.S. Fuel Inventories Climbed Last Week

(Bloomberg) -- Crude oil fell from the highest in
almost a year, pulled lower by gasoline, on speculation U.S. fuel
stockpiles increased last week.

A government report on Aug. 1 will probably show that U.S.
inventories of gasoline and distillate fuel, a category that
includes diesel and heating oil, rose for a second week,
according to a Bloomberg News survey. The crude-oil market often
follows gasoline during the summer driving season, when motor-
fuel demand peaks.


Read more at Bloomberg Commodities News

Oil Falls From Close to One-Year High on Expected U.S. Fuel Inventory Gain

(Bloomberg) -- Crude oil fell from the highest in
almost a year, pulled lower by gasoline, on speculation U.S. fuel
stockpiles increased last week.

A government report on Aug. 1 will probably show that U.S.
inventories of gasoline and distillate fuel, a category that
includes diesel and heating oil, rose for a second week,
according to a Bloomberg News survey. The crude-oil market often
follows gasoline during the summer driving season, when motor-
fuel demand peaks.


Read more at Bloomberg Energy News

S.African stock market boosted by miners, banks

(Reuters) - South Africa's blue chip top-40 index rose over 1.7 percent on Monday, boosted by resource and banking stocks in late afternoon trade.

At 1452 GMT, the blue-chip index was 1.6 percent stronger, with heavyweight miners Anglo American up 2.07 percent to 402.40 rand and BHP Billiton 3.75 percent higher at 203.60 rand.


Read more at Reuters Africa

Importers help push rand weaker

(Reuters) - South Africa's rand weakened to a new one-month low against the dollar on Monday, pushed down mostly by heightened importer demand during the morning session, traders said.

At 1520 GMT the domestic unit was trading at 7.1475 versus the dollar, down 0.5 percent from Friday's New York close of 7.1125, but well off the session's softest level of 7.1999 -- its weakest mark since June 27, according to Reuters data.


Read more at Reuters Africa

Turkish Stocks Fall for Fifth Day, Led by Koc, Akbank Shares; Migros Gains

(Bloomberg) -- Turkey's benchmark stock index
dropped for a fifth day, its longest losing streak in seven
months. Koc Holding AS and Akbank TAS paced the decline.

The ISE National 100 Index lost 102.69, or 0.2 percent, to
51,459.22 in Istanbul as 50 shares fell, 30 rose and 20 were
unchanged. That is the longest run of declines since the six
trading days ended Jan. 10.


Read more at Bloomberg Stocks News

UPDATE 1-Turkey's Akbank H1 net profit soars 35 pct

(Reuters) - Akbank, part-owned by Citigroup , turned a net profit
of 1.2 billion lira , it said in a statement.




Total loans grew 17.4 percent from the end of last year to
35.6 billion lira, with consumer loan growth of 19 percent.


Read more at Reuters.com Market News

Chile's Peso Strengthens as Codelco Prepares to Reopen Second-Largest Mine

(Bloomberg) -- Chile's peso rose after state-owned
Codelco, the world's biggest producer of copper, said it will
resume production at its second-largest mine.

Unions at El Teniente in central Chile will resume work,
Codelco said yesterday. Mining had been halted since July 26
because of protests by striking contract workers. Copper has
gained 22.6 percent this year. Copper is Chile's biggest export.


Read more at Bloomberg Currencies News

US STOCKS-Indexes flat, but volatility running high

(Reuters) - NEW YORK, July 30 - U.S. stocks were little
changed on Monday after gyrating between negative and positive
territory in the first half hour as worsening sentiment about
the global credit environment countered optimism about economic
growth.




Tightening lending standards threaten to slow or halt the
heavy pace of corporate buy-outs that have fueled a rally in
equities.


Read more at Reuters.com Bonds News

Mexican stocks rally, telecom shares lead

(Reuters) - The benchmark IPC stock index of leading shares
surged 1.54 percent to 30,701 points and the peso currency
eased marginally to 10.968 per dollar.




In debt trading, the price of the benchmark government
10-year peso bond rose 0.185 points to bid 101.586,
with a yield of 7.74 percent.


Read more at Reuters.com Bonds News

Canadian Stocks Rebound From Biggest Weekly Loss in 6 Years; EnCana Gains

(Bloomberg) -- Canadian stocks rose after investors
speculated that the steepest weekly sell-off in almost six years
was overdone.

EnCana Corp. paced gains in energy and raw-material stocks,
which had among the biggest declines last week, on higher prices
for natural gas.


Read more at Bloomberg Stocks News

Loews 2nd-qtr profit rises

(Reuters) - Net income at the New York-based conglomerate, which is run by the billionaire Tisch family, rose to $653.4 million from $568.7 million a year earlier.



Profit attributable to Loews shareholders rose to $511.7 million, or 95 cents per share, from $474.9 million, or 85 cents a share.


Read more at Reuters.com Market News

ICI rejects improved $16 bln Akzo bid, talks continue

(Reuters) - ICI, the maker of Dulux paints, said on Monday that the two sides were still in talks after it rejected a 650 pence a share cash proposal from Akzo but it had not opened its books to the world's largest maker of industrial coatings.




Akzo, the maker of Crown paints, said it had teamed up with German consumer products group Henkel over its proposed bid, but there was no certainty it would make a better offer. Henkel would take on ICI's adhesives and electronics materials business if a deal went through, Akzo said.


Read more at Reuters.com Business News

GLOBAL MARKETS-Investors take break from credit worries

(Reuters) - Signs of the recent bout of risk aversion, however, were not
far away. MSCI's main world stock index was 6
percent off its all-time high just 10 days ago and Wall Street
volatility was at highs not seen since April 2003.




"Clearly credit worries are still very much at the fore of
investors' minds," said Nick Stamenkovic, bond strategist at RIA
Capital Markets.


Read more at Reuters.com Bonds News

Dollar eases as credit, risk aversion remain focus

(Reuters) - The dollar slipped modestly against a basket of major currencies on Monday, giving back some of last week's gains as investors geared up for a barrage of economic data this week and potentially more credit-driven market volatility.

As traders took stock of last week's rise in risk aversion on deepening concern about a possible credit crunch and a deteriorating U.S. housing market, high-yielding currencies like the Australian and New Zealand dollars lost ground on Monday.


Read more at Reuters Africa

India's Unilever shares surge on results, buyback

(Reuters) - "The pricing of the buyback is good, but it is only a small share of their equity and it cannot prop up share prices in the long term," said Hemant Patel, an analyst at Enam Securities.




Hindustan Unilever, 52-percent owned by Anglo-Dutch Unilever Plc , on Sunday said it would spend up to $156 million to buy 27.4 million shares, or 1.2 percent of outstanding equity, at up to 230 rupees a share, a 17 percent premium to Friday's close.


Read more at Reuters.com Hot Stocks News

Corn, Soybeans Rise on Concern Over U.S. Crop Conditions; Wheat Declines

(Bloomberg) -- Corn and soybean futures in Chicago
gained on speculation a government report later today will show
a decline in crop conditions for a fourth straight week. Wheat
futures fell as investors bet recent gains were overdone.

An estimated 62 percent of the corn crop was in good or
excellent condition as of July 22, down from 64 percent a week
earlier and up from 59 percent a year earlier, the U.S.
Department of Agriculture said in its latest report on July 23.


Read more at Bloomberg Commodities News

ABN CEO: Barclays bid beneficial, but cannot recommend

(Reuters) - "We continue to support Barclays' offer because we feel
overall Barclays' merger plan is to the benefit of all
stakeholders," Chief Executive Rijkman Groenink told reporters,
but said that ABN has taken a neutral stance on the competing
bids.




Read more at Reuters.com Mergers News

S.African stocks up as miners, financials recover

(Reuters) - South African stocks pushed more than 1 percent higher on Monday as miners and financials recovered from last week's bruising.

Heavily-weighted miner Anglo American, which slid more than 5 percent on Friday, gained 1.14 percent while peer BHP Billiton jumped 2.15 percent.


Read more at Reuters Africa

French Utility Stocks Drop, Led by Suez; Michelin and France Telecom Gain

(Bloomberg) -- French utility stocks dropped, paced
by Suez SA and Veolia Environnement SA. Michelin & Cie. and
France Telecom SA gained.

The CAC 40 Index slid 9.20, or 0.2 percent, to 5634.76 at
9:11 a.m. in Paris. The SBF 120 Index fell 0.1 percent.


Read more at Bloomberg Stocks News

China Tells Some Local Governments to Hold Prices for the Rest of the Year

(Bloomberg) -- China's top planning agency told
local governments in some regions to refrain from raising prices
for the rest of the year, seeking to curb inflation that rose to
a 33-month high in June.

The directive is for places where consumer-price gains
breached local targets by a ``relatively large margin,'' the
National Development and Reform Commission said in a statement
on its Web site today. Price increases connected with energy-
efficiency policies are exempt, the agency said.


Read more at Bloomberg Emerging Markets News

JGBs fall from 2-month high on stocks, BOJ jitters

(Reuters) - JGBs extended losses as investors took profits after
concluding that bond yields have fallen too far if the BOJ
decides to lift the overnight call rate to a 12-year high of
0.75 percent in August from the current 0.50 percent.




A global slide in equity and corporate bond markets in the
past week has stirred doubts about a BOJ interest rate rise next
month, and driven benchmark JGB yields to two-month lows.


Read more at Reuters.com Bonds News

UPDATE 1-UK's Ultra H1 underlying profit rises 7 pct

(Reuters) - Operating profit, defined as earnings before interest, taxes
and amortisation on acquisitions, rose to 27.0 million pounds
, the company said in a statement to the London
Stock Exchange.
Citing its broad range of activities in both the defence and
civil sectors as well as its growing order book, Chief Executive
Douglas Caster said in the statement: "These give an excellent
basis for further progress in the medium term despite the
continuing currency headwind."




Ultra's order book advanced 3.8 percent to 574.8 million
pounds.


Read more at Reuters.com Market News

Pearson H1 profit up, raises education sales forecast

(Reuters) -



LONDON, July 30 - Book and newspaper publisher Pearson reported a sharp rise in first half profits on Monday and raised its full-year sales forecast for its core professional education business to growth of 5-7 percent.


Read more at Reuters.com Market News