6/26T9:50 Co. in the News

Companies in the News:

JPM JP Morgan Chase is itching to pull the trigger on one more big bank purchase - NY Post (37.91 )
NY Post reports JPMorgan Chase is itching to pull the trigger on one more big bank purchase, even after it bagged Bear Stearns in a Federal Reserve-assisted buyout a month ago. The banking giant has compiled a wish list of coveted institutions, both struggling and strong, according to people familiar with the matter. Of top interest are WM and STI, both of which have already received close looks, according to sources. The list also includes, in order of appeal, PNC, WB and USB, sources said. JPMorgan is among a select number of financial institutions seeking to identify potential merger candidates. Others mulling tie-ups are WFC, PNC and US Bancorp. It's not clear if any formal discussions are underway, but casual CEO-level dialogues about partnerships and mergers have been increasing lately, bankers noted... Wall Street observers also say investment banks LEH, MER and even GS may have to purchase or merge with a commercial bank in order to ensure long-term access to the Federal Reserve for short-term borrowing. Sources say there is a concern that the newly created access that brokers now have to the Fed's discount window might be closed in the near future. That fear has increased speculation that the likes of Goldman Sachs could purchase a co like US Bancorp, or Merrill Lynch could link up with Wachovia. Even though the battle for target banks will take place among an elite few, the competition may also include the RY and STD.

Russia may buy gold using sovereign wealth funds, according to report - DJ
DJ reports Russia may consider buying gold with the resources held in its sovereign wealth funds, RIA Novosti reported citing Finance Ministry official Pyotr Kazakevich. "It's an interesting question, which is worth discussing, but it's important to be careful with precious metals, since this market has already risen a lot," said Kazakevich, who is deputy director of the Finance Ministry's international finance department.