U.S. AVERAGES
Crude-oil futures were lower but still above $65 a barrel.
China's CNPC International announced it has agreed to acquire
PetroKazakhstan for $4.18 billion, topping an offer from an Indian rival.
SBS Broadcasting (
SBTV: chart) agreed to be acquired for $2.6 billion, or $56 a share, by two private equity companies.
Germany's
TUI AG has reached a deal to acquire
CP Ships Ltd. in an all-cash deal valued at $2 billion, or $21.50 a share, to create the world's No.5 container shipping firm.
OSI Pharmaceuticals Inc. (
OSIP: chart) is buying
Eyetech Pharmaceuticals Inc. (
EYET: chart) in a cash-and-stock deal, valued at $935 million, that pays Eyetech shareholders a 43% premium over Friday's closing price of $13.99.
Trader Classified Media climbed 8.9% in afternoon Paris trade after a report that
Yahoo (
YHOO: chart) and
Google (
GOOG: chart) showed interest in acquiring the publisher of 575 print titles. Both Internet search engines have made approaches for the company, according to reports.
On the earnings front,
H.J. Heinz Co. said fiscal first quarter earnings fell 19.2% to $157.3 million, or 45 cents a share, with sales up 5.3% to $2.11 billion. Excluding reorganization-related charges and other items, Heinz would have earned 52 cents a share for the latest quarter. Analysts had expected earnings of 49 cents a share on revenue of nearly $2.08 billion.
ECONOMIC NEWS
No economic reports are due
Monday.
Existing home and new home sales, weekly jobless claims, durable goods orders and monthly consumer sentiment are on economic calendar for the week.
On
Tuesday the National Association of Realtors is expected to report that July existing home sales have declined to 7.25 million from 7.33 in June and 7.14 million in May. National median price on housing in June was $219,000. On Wednesday, Commerce Department is expected to report new home sales of 1.325 million from 1.374 million in June.
On
Wednesday the Commerce Department is also scheduled to report July durable goods orders declined by 1.2% after rising 1.4% in June, 6.4% in May, and 1.5% in April. If the orders do decline then this will be the first decline since March 2005.
On
Thursday Labor Department is to report weekly unemployment for the week ended August 20 to rise to 320,000 from 316,000 in the previous week. The initial claims after peaking in March 2005 at 455,000 have been on steady decline.
On
Friday Fed’s Chairman is scheduled to report on the health of the economy at the Fed’s annual meeting in Jackson Hole, Wyoming. Final read on August consumer sentiment from the University of Michigan is expected to match the initial estimate of 92.7.
INTERNATIONAL MARKET NEWS
Asian markets closed higher Monday as Japanese shares reached their highest level since July 2001, led by gains in banking and oil companies. The Nikkei 225 index rose 160.78 points, or 1.3%, to 12,452. Among advancers, Hong Kong's Hang Seng index closed 1.2% higher, Sydney's All-Ordinaries index rose 0.7% to 4,462, Singapore's Straits Times index closed 0.6% higher to 2,300 and the Shanghai Composite index added 0.7% to 1,158.
Japanese stocks climbed to a new 4-year high Monday as continued confidence in the nation's economic recovery encouraged traders to buy issues sensitive to domestic demand. On the Tokyo Stock Exchange the Nikkei 225 index gained 160.78 points, or 1.30% to 12,452.51 points, its highest level since July 5, 2001 when it reached 12,607.30 points.
European stocks edged higher in the early trading Monday as oil and mining stocks advanced, while pharmaceutical sector was under pressure. The German DAX 30 added 0.24% to 4,941 points, the French CAC 40 gained 0.09% to 4,491 points and the British FTSE 100 index advanced 0.15% to 5,320 points.
ENERGY, METALS AND CURRENCIES MARKETS 
