ASIAN & EU WRAP

By webmaster on June 16th, 2006

** ASIAN MARKETS **
Nikkei 2,91%; Kospi 3,44%; HSI 2,41%; Taiwan 2,32%; China 1,58%; India 4,37%;
Thailand 3,17%; Australia 1,92%

** ASIAN HEADLINES **
- Asian Stocks Surge Most in Two Years on Bernanke Remarks; Samsung Climbs
- Nissan Cuts Production at Two Factories as Sales Slide for Eighth Month
- Infosys to Hire More Workers in U.S., China, Chief Executive Nilekani Says
- Singapore Exports Unexpectedly Declined 2.3 Percent in May on Disk Drives
- Oracle and Lenovo Say That Asia Sales Might Slow as Interest Rates Rise
- Sri Lanka Unexpectedly Raises Key Interest Rates for First Time This Year
- NEC Electronics Expects Third-Quarter Profit, First in More Than a Year
- Bank of Japan Will Maintain Close Watch on Market Movements, Fukui Says
- Infosys, Indian Software Shares May Rebound as Rupee’s Decline Lifts Sales

** EUROPEAN MARKETS **
S&P future 0,03%; Bund future -0,06%; Crude future 70,12; â‚¬/$ 1,26455; Gold
581,55

** EUROPE: IN PLAY TODAY **

Credit Suisse Group’s head of global equity strategy raised his recommendation
of stocks today saying that inflation concerns will be temporary and that
investors have become too bearish. The London-based strategist raised equities
to a 5 percent ``overweight’’ above his benchmark and lowered bonds back to
their standard weighting. He cited corporate buybacks as another
reason to step in now and purchase shares.

- Centrica Plc : The U.K.’s largest energy supplier will provide a trading
update today.

- Carnival Corp.: The world’s largest cruise operator is scheduled to release
fiscal second-quarter earnings figures and will hold a conference call.

- Elan Corp.: The ratings outlook for Ireland’s biggest drugmaker was raised to
stable from negative by Moody’s Investors Service in anticipation of the
company’s Tysabri multiple sclerosis treatment returning to pharmacy shelves
next month.

- Gaz de France SA and Suez SA: The two French utilities reiterated their plan
to merge, shrugging off doubts expressed by several lawmakers of the country’s
governing party.

- Repsol YPF SA: Spain’s largest oil company will hold its annual shareholders’
meeting in Madrid. The company may lower its reported Venezuelan oil and gas
reserves for a second time in 2006 after completing an audit. The results of the
audit may be disclosed today, Expansion reported yesterday.

** EUROPE: UPS & DOWNS **
+ COMMERZBANK RAISED TO `BUY’ FROM `HOLD’ AT DEUTSCHE BANK
+ HEIDELBERGER DRUCK RAISED TO `BUY’ FROM `HOLD’ AT DEUTSCHE
+ SAINSBURY RAISED TO `HOLD’ FROM `SELL’ AT DEUTSCHE BANK
+ WOLTERS KLUWER RAISED TO `NEUTRAL’ AT JPMORGAN :WLSNC NA
+ ZURICH FINANCIAL ADDED TO MERRILL’S LYNCH `EUROPE 1’ LIST
+ DANSKE BANK RAISED TO `NEUTRAL’ FROM `REDUCE’ AT UBS
+ LINDT & SPRUENGLI RAISED TO `NEUTRAL’ AT CREDIT SUISSE
+ WIMPEY RAISED TO `OVERWEIGHT’ AT MORGAN STANLEY
+ EADS RAISED TO `OUTPERFORM’ VS `NEUTRAL’ AT CREDIT SUISSE
+ BBVA RAISED TO `BUY’ FROM `HOLD’ AT ING