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South Korea Inflation Eases Unexpectedly In June





South Korea's consumer price inflation eased unexpectedly in June, though marginally, figures from Statistics Korea showed Tuesday.


The consumer price index rose 1.9 percent year-over-year in June, slightly slower than the 2.0 percent climb in May. Economists had expected the inflation to remain stable at 2.0 percent.


Prices of food and non-alcoholic beverages grew 4.6 percent annually in June and transport costs went up by 2.0 percent.


On a monthly basis, consumer prices edged down 0.1 percent from May, when it increased by 0.1 percent.


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COLOMBIA:Producer Prices Drop 2.07% In June





The Colombian Producer Price Index (PPI) in June recorded its largest annual fall since May 2013, decreasing by 2.07% - a sharp slowdown when compared to the same period last year, when it rose 6.95%, said the Colombia's National Administrative Statistics Department (DANE).


According to the report, the annual decline was due to a sharp decrease in mining, agriculture, livestock, and fishing, while the industry sector was the only one to post an above-average variation.


On a monthly basis, Colombia's PPI decreased by 0.50% in June from May, the biggest decline since February.


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Global Shares Lower Amid Geopolitical Unease





World shares retreated while bonds and gold climbed on Tuesday as a long-range ballistic missile test from North Korea and the July 4 holiday in the U.S. market reduced risk appetite.


Asian shares were lower while South Korea's won fell to a 16-week low after North Korea's missile landed in Japanese territorial waters amid Pyongyang claiming that it would strike “anywhere in the world”.


MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent. Japan's benchmark Nikkei pared gains to close 0.1 percent lower. Hong Kong was sharply hit by the regional jitters as it plunged as much as two percent at one point.


Europe saw a moderate decline as the pressure to lock in profit following Monday's largest gain in more than two months outweighed the recovery of commodity stocks as oil rises again after an overnight drop.


The perceived safe-haven Japanese yen and gold were both higher, as well as European bonds and Treasuries. MSCI's widely-tracked emerging equity index fell to its sharpest one-day decline in almost three weeks and most Asian currencies were also weaker.


Signs have emerged that alongside the geopolitical jitters, higher global borrowing rates and the greenback were beginning to weigh on emerging markets after their outstanding start in 2017.


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CHILE: Economic Activity Index In May Rises The Most Since January





Chile's Monthly Indicator of Economic Activity (IMACEC) increased by 1.3% in May compared to the same month a year ago, according to the country's central bank. It was the strongest increase since January 2017.


The index rose 0.5% in May from the previous month and grew 1.3% in 12 months.


The mining sector activity index fell by 4.6% in May from a year before, while the activity index excluding the mining segment had a 1.9% increase. On a monthly basis, the mining sector index increased by 2.6%, while the non-mining index posted a 0.3% growth.


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European Markets Climb as Retailers Soar





European stocks advanced for the second time in three days as a rally in financial service firms and retailers counterbalanced drops in oil and gas companies.


The Stoxx Europe 600 Index closed 0.2 percent higher. It slipped 0.3 percent in muted trading on Tuesday, extending declines in the final minutes before closing.


Retailers bounced 0.9 percent and financial services firms reported their largest gain in nearly three weeks. Energy shares dropped the most in the index while oil fell for the first time in nine days.


Investors were focused on the minutes from the Federal Reserve meeting. According to Fed fund futures, traders are implying at least seven odds of a rate hike in December.


Among shares active on corporate new, Persimmon rose 2.4 percent as the company expects its first-half operating margin to “comfortably exceed” that of the preceding six months.


Drugmaker GlaxoSmithKline fell 0.2 percent after a downgrade to neutral from buy at Citigroup. Novartis dropped 0.3 percent after it was downgraded to underperform from neutral at Credit Suisse.


Electricite de France tumbled 1.3 percent after HSBC Holdings slashed its ratings, saying recent gains have gone too far. Enagas fell 0.8 percent after Deutsche Bank trimmed its rating to hold from buy.


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Wall Street Drops Amid a Rise in Global Bond Yields





U.S. stocks fell on Thursday as technology stocks dropped amid an increase in global bond yields. The S&P 500 market its largest one-day decline since May 17.


In recent week, government bond yields have increased as central banks indicated that the end of monetary stimulus is approaching.


The Dow Jones Industrial Average dropped 0.74 percent to 21,320.04. The S&P 500 fell 0.94 percent to 2,409.75 while the Nasdaq Composite lost one percent to 6,089.46, weighed down by losses in technology and biotech shares.


UnitedHealth, Walt Disney, 3M and Apple added the most pressure on the Dow.


Energy closed 1.8 percent lower as the second-worst performer in the S&P 500. Shares of Newfield Exploration, Apache and Noble Energy were among the largest decliners.


Consumer-discretionary shares fell one percent in the S&P 500. Victoria's Secret L Brands, which posted a loss in same-store sales for June, tumbling 14% to $46.49.


The S&P 500 health-care sector dropped 1.3 percent. Shares of medical-supplies Patterson Cos fell 6.9 percent to 44.15, reporting its sharpest one-day percentage loss in the sector, after brokerage Stifel Nicolaus downgraded its rating for the stock from hold to sell.


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Japan Labor Cash Earnings Rise More Than Forecast





Total labor cash earnings in Japan increased for the second straight month in May, and at a faster-than-expected pace, preliminary report from the Ministry of Health, Labor and Welfare showed Friday.


Gross earnings rose 0.7 percent year-over-year in May, faster than the 0.5 percent climb in April. Economists had expected a 0.4 percent gain for the month.


Contractual gross earnings also grew 0.7 percent annually in May, while special cash earnings dropped by 1.6 percent.


Real cash earnings went up 0.1 percent in May after remaining flat in the preceding month.


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Japan Overall Bank Lending +3.3% On Year





Overall bank lending in Japan was up 3.3 percent on year in June, the Bank of Japan said on Monday - standing at 513.772 trillion yen.


That exceeded expectations for a gain of 3.2 percent, which would have been unchanged from the May reading.


Excluding trusts, bank lending also was up an annual 3.3 percent to 446.927 trillion yen. That was unchanged and in line with expectations.


Lending from trusts was up 2.8 percent on year to 66.844 trillion yen after rising 2.9 percent a month earlier.


Lending from foreign banks climbed 9.1 percent to 2.085 trillion yen - slowing from 13.1 percent in May.


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Apollo to Acquire ClubCorp for $1.1 billion





Private equity firm Apollo Global Management LLC announced it will acquire ClubCorp Holdings Inc, which is the biggest owners and operators of private golf and country clubs in the United States, for $1.1 billion.


Apollo said it will pay $17.12 a share in cash for ClubCorp, a 30.7 percent premium over its closing price on Friday, but less than the 12-month peak of $17.50, the shares touched in February, on investor expectations that a sale process that was initially posted by Reuters in January will be successful.


Dallas-based ClubCorp also announced a one-time dividend of 13 cents a share that will be paid later this month. It said the sale to Apollo is seen to close in the fourth quarter of this year.


ClubCorp has been a sequential acquirer in the golf industry, as it bought dozens of courses in the last three years. KSL Capital, another private equity firm, procured ClubCorp for $1.8 billion in October 2006 and took it in public in 2013.


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PETROBRAS: Company To Sell Fuel Distribution Assets In Paraguay





Petrobras intends to sell its stake in companies that distribute and sell fuels, cooking gas and lubricants in Paraguay. Ita? BBA was hired to be the financial advisor of the potential divestment.


The transaction will involve the subsidiaries Petrobras Paraguay Distribuci?n Limited, Petrobras Paraguay Operations and Logistics and Petrobras Paraguay Gas.


Petrobras, through the companies listed above, has a network of 197 service stations and 113 convenience stores and is also present in the aviation sector, operating in three airports. The company is also the largest fuel distributor in the country. Regarding logistics, it owns a distribution terminal, in the city of Villa Elisa.


According to the company, the fuel distribution assets it owns in Paraguay were purchased from Shell and had their brand image improved since then.


Petrobras will accept offers from distributors with at least 50 stations operating in Paraguay, or with consolidated revenues of at least US$ 200 million. Trading companies can also bid for the assets, as long as they have at least one representative office in South America and reported net revenue of at least US$ 200 million per year.


The companies invited by Petrobras to buy the assets should show interest in the transaction until July 24.


In June, Petrobras said that it would start a divestment process to sell 30 assets until the end of this year, and added that it would disclose half of those assets in the next three months.


The assets are part of a US$ 21 billion sale plan for 2017 and 2018. According to Pedro Parente, Petrobras, chairman, the Pasadena Refinery, in the United States, will be among these assets.


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