STOCKS NEWS US-Steel sector falls after Steel Dynamics measures

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For U.S. stock market report double-click [.N] 0955 ET 03June2009-Steel sector falls after Steel Dynamics measures ------------------------------------------------------------------------------

Shares of steel companies fell on Wednesday, a day after Steel Dynamics (STLD.O) cut its quarterly dividend by 25 percent and said it plans to offer 27 million of its common shares and $150 million of convertible senior notes due 2014 to repay debt.

For details, see [ID:nBNG498001]

The Dow Jones U.S. Steel index .DJUSST slid 5.3 percent to $210.59 while Steel Dynamics was off 8.2 percent to $14.32. Among other companies in the group, AK Steel (AKS.N) dropped 6 percent to $15.16, U.S. Steel (X.N) dropped 4.7 percent to $34.72 and Nucor (NUE.N) dropped 4.6 percent to $45.22.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0950 ET 03June2009-Mortgage applications fall as rate advance ------------------------------------------------------------------------------

U.S. mortgage applications fell last week, reflecting a plunge in demand for home refinancing loans as interest rates surged to their highest levels since late January, according to data from the Mortgage Bankers Association.

The MBA said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended May 29 decreased 16.2 percent to 658.7.

For details, see [ID:nN02520526]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0942 ET 03June2009-Tessera shares gain after outlook, Motorola deal ------------------------------------------------------------------------------

Shares of Tessera Technologies Inc (TSRA.O) rallied on Wednesday, a day after the company said Motorola Inc (MOT.N) signed an agreement to license its technology and settle all outstanding litigation between the companies.

Tessera also lifted its second-quarter revenue outlook, expecting the deal to add to its royalty and license-related revenue.

For details, see [ID:nBNG466224]

The stock gained 5.3 percent to $25.75 on Wednesday while Motorola was down 1.7 percent to $6.30.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0935 ET 03June2009-Capital raises suggest thaw in credit: firm ------------------------------------------------------------------------------