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Mining and luxury stocks slide as European shares fall
Thu Jun 20, 2013 4:04am EDT * FTSEurofirst 300 falls 1.4 pct, Euro STOXX 50 down 1.7 pct * New signs of China slowdown hits mining stocks * Fall in Swiss exports hits Swatch and Richemont By Sudip Kar-Gupta LONDON, June 20 (Reuters) - European shares fell on Thursday as confirmation that the U.S. Federal Reserve would wind down economic stimulus measures, together with weak Chinese data, hit ...
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UPDATE 2-UK watchdog says Lloyds must raise $13.5 bln capital
Thu Jun 20, 2013 3:59am EDT * Regulator sees 27.1 bln stg capital shortfall at 5 banks * Introduces leverage ratio ahead of global deadline * RBS, Lloyds say no need to issue new shares, debt * Barclays, Nationwide asked to cut leverage By Huw Jones and Matt Scuffham LONDON, June 20 (Reuters) - Lloyds Banking Group must plug a capital shortfall of 8.6 billion pounds ($13.5 billion), ...
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EURO GOVT-Bonds fall after Fed signals slower asset-buying
Thu Jun 20, 2013 3:54am EDT * Bunds fall more than a point, hit lowest since February * Other euro zone debt prices also plunge * Spain, France to hold "difficult" debt sales By Marius Zaharia LONDON, June 20 (Reuters) - Euro zone debt fell across the board on Thursday and was expected to weaken further after the Federal Reserve signalled it was ready to reduce its bond purchases if its ...
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GSK links with French venture firm to target rare diseases
LONDON (Reuters) - GlaxoSmithKline is investing 17.5 million euros ($23.5 million) in a new venture fund to invest in drugs for rare diseases, underscoring the growing role of big drugmakers in backing start-up companies. GSK and many of its rivals are becoming more active in funding early-stage companies, reflecting both a desire to tap into smart ideas from outside their own laboratories and ...
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Aust bonds weaken after Fed comments
Australian 10-year bond futures prices fell to a three-month low after the US central bank announced it would wind back its $US85 billion a month bond purchase program. ANZ head of interest rate research Tony Morriss said there was a big sell off in US and Australian bond markets early on Thursday after the press conference by Federal Reserve chairman Ben Bernanke. "The Fed pretty much ...
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Singapore PM says haze from Indonesia fires may last for weeks
SINGAPORE, June 20 | Thu Jun 20, 2013 3:45am EDT SINGAPORE, June 20 (Reuters) - A haze blanketing Singapore from fires in Indonesia could persist for weeks or even longer, Prime Minister Lee Hsien Loong said on Thursday, warning of consequences if Singapore-linked companies were found responsible for the burning. The illegal burning of forests and other land on Indonesia's Sumatra ...
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GLOBAL MARKETS-Bonds shares slump as Fed signals end to stimulus
Thu Jun 20, 2013 3:39am EDT * Clear signal of Fed tapering sparks global asset selloff * U.S. bond yields soar, hitting high-yielding currencies * Asian markets extend falls on weak China data * European shares down 1.5 percent in early trade By Richard Hubbard LONDON, June 20 (Reuters) - Bonds, shares and commodities fell sharply around the world on Thursday and the dollar rose after the U.S. ...
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Brazil demonstrators promise biggest protests yet
Reversing public-transit fare hikes failed to defuse Brazil's anti-government protests, with organizers vowing to hold the biggest demonstrations yet Thursday. Hundreds of thousands of demonstrators -- angry about political corruption, the high cost of living and huge public spending for the 2014 FIFA World Cup soccer tournament -- are expected on the streets of Sao Paulo, Rio de Janeiro, ...
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CNH Tracker-Onshore fund squeeze could rattle dim sum bond cart
By Saikat Chatterjee HONG KONG, June 20 (Reuters) - Ripples from a worsening cash squeeze in China's interbank money markets are reaching the offshore yuan market and threaten to derail a recent surge of bond sales as investors shun debt. From January through May, average monthly sales of offshore yuan bonds or dim sum debt were nearly 20 billion yuan ($3.26 billion). The pace dropped ...
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Nikkei skids as weak China data Fed exit plans chill sentiment
* Nikkei down 1.7 pct, Topix off 1.3 pct as Fed comments hurt mood * China's weak flash PMI drags down China-related manufacturers * Real estate shares battered * Weak yen lends some support to currency-sensitive stocks By Tomo Uetake TOKYO, June 20 (Reuters) - Japan's Nikkei share average fell on Thursday as weak China data further unsettled markets coming to grips with Federal Reserve ...
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RPT-WRAPUP 1-Asian markets hammered on China fears Fed exit plan
Thu Jun 20, 2013 3:18am EDT * MSCI Asia ex-Japan slides 3.5 pct in biggest drop since 2011 * HSBC China "flash" PMI surprisingly weak, PBOC still tight * Asian currencies take a bath, Indian rupee at record low * U.S. Treasury yields hit 15-mth high, underpin US dollar By Chikako Mogi and Wayne Cole TOKYO/SYDNEY, June 20 (Reuters) - Asian markets buckled badly on Thursday after the ...
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Carlyle Seven Group to retain Coates Hire after review
SYDNEY, June 20 | Thu Jun 20, 2013 3:18am EDT SYDNEY, June 20 (Reuters) - Private equity firm Carlyle Group and Seven Group Holdings said on Thursday they plan to retain ownership of Coates Hire Ltd, Australia's top equipment rental firm, following a six-month review of the business. Carlyle and Seven appointed Goldman Sachs in November to carry out a review of the business for a ...
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Refile-research Alert-china Gdp Growth Hsbc Cuts 2013 2014 Forecast
Thu Jun 20, 2013 3:17am EDT June 20 (Reuters) - June 20 (Reuters) - : * China GDP Growth Forecast: HSBC cuts 2013 forecast to 7.4% from 8.2%; cuts 2014 forecast to 7.4% from 8.4% * MSCI China index: HSBC cuts end-2013 target for index to 60 from 70 * Chinese stocks: HSBC cuts to neutral from ...
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Stocks slump as Federal Reserve hints at reducing cash infusions
US Federal Reserve Chairman Ben Bernanke said at a Wednesday press conference that the US central bank would consider reducing its $85 billion-per-month asset purchasing program later this year, based on an improved outlook for the US economy.The announcement sparked a sell-off on US stock and bond markets, with the Dow Jones Industrial Average closing down by 206 points, or 1.35 percent. Yields ...
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UK watchdog details bank capital shortfalls
LONDON (Reuters) - Lloyds Bank has a capital shortfall of 8.6 billion pounds, Britain's banking regulator said on Thursday, a day after the UK government signalled plans to return the part-state owned lender to the private sector.The Prudential Regulation Authority said the aggregate capital shortfall at UK five banks at the end of 2012 was 27.1 billion pounds, slightly higher than its 25 ...
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Currencies Dollar climbs in Fed’s wake extends gains vs. yen
LOS ANGELES (MarketWatch) -- The U.S. dollar climbed Thursday, building on gains after the U.S. Federal Reserve said it may slow the pace of bond purchases by the end of the ...
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Futures Movers Oil prices struggle on energy demand Fed worries
LOS ANGELES (MarketWatch) -- U.S. crude-oil futures fell Thursday, as the market grappled with weak manufacturing-activity figures from China, an increase in U.S. oil supply and signaling by the Federal Reserve that a reduction in monetary stimulus is in ...
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Energy Stocks Energy stocks turn lower after Fed decision
SAN FRANCISCO (MarketWatch) -- Energy stocks turned lower after U.S. Federal Reserve Chairman said the Fed tapering, or scaling back on bond buying, could begin later this year if the economy continues to ...
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Wall Street drops on Fed news
Equities have been closely tethered to ultra-loose monetary policy, which has been key to the S&P's climb of more than 14 percent so far this year. Benchmark 10-year US bond yields jumped to a 15-month high on expectations the Fed will reduce its bond ...
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Melrose to sell Italian electrical motor unit to Carlyle
June 20 | Thu Jun 20, 2013 2:58am EDT June 20 (Reuters) - Engineering turnaround specialist Melrose Industries Plc said it would sell its Marelli Motori business, which makes electrical motors and generators, to private equity company Carlyle Group in a deal worth about 181 million pounds ($283.5 million). Melrose, which bought the business as part of its about 1 billion pound ...
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UPDATE 3-Sony CEO asks for patience as shareholders press on spinoff plan
Thu Jun 20, 2013 2:57am EDT * Shareholders press CEO Hirai for detailed stance on spinoff proposal * Hirai says Sony's board will consider Third Point's proposal carefully * Sony shares up more than 7 pct since Third Point letter in mid-May By Mari Saito TOKYO, June 20 (Reuters) - Sony Corp shareholders pressed its chief executive for a response to hedge fund Third Point's proposal ...
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Indian rupee hits record low against dollar
Indian rupee continued to fall Thursday, hitting a record low of 59.94 against the greenback in morning trading.The previous record low was recorded on June 11, when the local currency was trading at 58.98 rupees against 1 US dollar. The rupee closed at 58.71/72 for a dollar on Wednesday.The Indian currency has depreciated by more than 6 percent since May 1, due to high current account deficit, ...
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UPDATE 1-UK Stocks-Factors to watch on Thursday June 20
Thu Jun 20, 2013 2:30am ...
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Moscow rebuffs Obama nuclear arms proposal
Obama 's call for steep nuclear weapons reductions, with a Defense Ministry adviser calling the proposal "absolutely unacceptable." "We cannot allow the balance of the strategic deterrence system to be broken, or the effectiveness of our nuclear forces to be diminished," Russian President Vladimir Putin said in St. Petersburg around the same time Obama said in Berlin he ...
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Indias NTPC scraps bond sale after sell-off in government bonds - sources
MUMBAI, June 20 | Thu Jun 20, 2013 2:29am EDT MUMBAI, June 20 (Reuters) - NTPC Ltd, India's largest power producer, scrapped its bond sale scheduled for Thursday after a sell-off in government bonds caused worries about the pricing of its debt, four sources with direct knowledge of the bond sale said. The firm was planning to raise up to 10 billion rupees through an issue of dual ...
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