Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop

(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.


Read more at Bloomberg Stocks News

Singapore Dollar to Rise 10 Percent to Record $1.38, BNP Paribas Predicts

(Bloomberg) -- The Singapore dollar may rise 10
percent to a record in a year as an influx of tourists and
bankers supports economic growth, BNP Paribas SA said.

The currency may reach S$1.38 per dollar by June 30, passing
the record of S$1.3835 reached in 1995, as the Monetary Authority
of Singapore seeks gains to curb inflation, said Thio Chin Loo,
senior foreign-exchange strategist in Singapore at France's
largest bank by market value.


Read more at Bloomberg Currencies News

Telenet Seeks 1 Billion-Euro Loan to Pay Shareholder Dividends, Refinance

(Bloomberg) -- Telenet Group Holding NV, Belgium's
biggest provider of broadband cable services, is seeking a 1
billion-euro ($1.4 billion) loan as part of its plan to replace
bonds and pay dividends, bankers arranging the deal said.

Telenet, based in Mechelen, Belgium, wants to refinance all
its bonds and return as much as 813.4 million euros to
shareholders, the company said earlier this month. Telenet hired
BNP Paribas SA, JPMorgan Chase & Co. and ABN Amro Holding NV to
arrange the financing, said the bankers, who declined to be
identified because the terms haven't been set.


Read more at Bloomberg Bonds News