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India fwd/annualised dlr premia-Nov 27

November 27, 2014 - reuters.com

UPDATE 1-Russian rouble, stocks fall before OPEC meeting

November 27, 2014 - reuters.com

(Adds details and comment, updates prices) MOSCOW, Nov 27 (Reuters) - The Russian rouble fell against the dollar and euro, and stock indexes were lower early on Thursday, following oil prices which have weakened before a key OPEC meeting in Vienna. At 0732 GMT the rouble was down 0.6 percent against the dollar at 47.68 RUBUTSTN=MCX and 0.8 percent against the euro at 59.70 EURRUBTN=MCX . Global oil benchmark Brent LCOc1 was down 1.5 percent at around $76.6 a barrel, as expectations mount that OPEC will not agree to cut production to shore up sliding oil prices at Thursday's meeting. ID:nL6N0TG1E3 Oil and gas account for around two-thirds of Russian exports, making the rouble and other Russian assets highly sensitive to changes in the oil price. "The fall in oil prices this morning doesn't leave any chance for a strengthening of the Russian rouble and will weigh on the stock market," Veles Capital analyst Vasily Tankurov said in a note. The dollar-denominated RTS stock index .IRTS , which is negatively affected by a weaker rouble, was down 1.3 percent at 1,014 points. The rouble-based MICEX index was down 0.2 percent at 1,535 points. .MCX (Reporting By Jason Bush, editing by Elizabeth Piper) ((jason.bush@thomsonreuters.com; +7 495 775 1242; Reuters Messaging: jason.bush.reuters.com@reuters.net)) Keywords: RUSSIA MARKETING/ROUBLE

Sweden Dems say to decide on crucial budget vote on Tuesday

November 27, 2014 - reuters.com

STOCKHOLM, Nov 27 (Reuters) - Unaligned anti-immigration party the Sweden Democrats said it will announce on Tuesday whether it will vote in favour of the centre-right opposition's budget, a move which would effectively bring down Prime Minister Stefan Lofven's centre-left minority government. The Sweden Democrats, an opposition party shunned by other parties in parliament, still holds the balance of power and would if it sided with the centre-right over the budget leave the Nordic country facing a governmental crisis and possibly even new elections. "We will make our decision at our regular parliament group meeting on Tuesday and announce it immediately afterward," Sweden Democrats economic spokesperson Oscar Sjostedt told journalists after a meeting in the Riksdag. Asked if the party remained prepared to bring down the government, Sjostedt said: "We are absolutely ready to do that." (Reporting by Johan Sennero; writing by Niklas Pollard) ((Niklas.Pollard@thomsonreuters.com; +46 70721 1110; Reuters Messaging: niklas.pollard.reuters.com@reuters.net)) Keywords: SWEDEN BUDGET

South Africa's rand firms ahead of inflation data

November 27, 2014 - reuters.com

JOHANNESBURG, Nov 27 (Reuters) - South Africa's rand firmed on Thursday, holding on to gains it made in the previous session when the U.S. dollar weakened on data that showed the pace of economic growth in the world's number one economy was slowing. The local unit ZAR=D3 gained 0.22 percent to 10.9400 per dollar by 0632 GMT, from a close of 10.9645 in New York on Wednesday. Government bonds also firmed with the yield on the benchmark paper due in 2026 ZAR186= falling 1.5 basis points to 7.68 percent, after edging towards a year low in the previous session as lower oil prices pointed to benign inflation. Market watchers expect domestic producer price inflation data due at 0930 GMT to give the rand direction. "The rand continues to feature as one of the best performing EM's month-to-date," said ETM Analytics in a note. " But it becomes difficult to read too much into these moves when considering how profit-taking would have featured and liquidity would have lightened up across U.S. markets approaching today's (Thanksgiving) holiday". South Africa's producer price inflation slowed to 6.9 percent year-on-year in September. A Reuters poll of economists puts the October figure at 6.6 percent. (Reporting by Mfuneko Toyana; Editing by Joe Brock) ((mfuneko.toyana@thomsonreuters.com; +27117753153; Reuters Messaging: mfuneko.toyana.thomsonreuters.com@reuters.net)) Keywords: MARKETS SAFRICA/CURRENCY

TABLE-Foreign trading in South Korean stocks

November 27, 2014 - reuters.com

UPDATE 1-Singapore pledges more steps if needed to contain household debt

November 27, 2014 - reuters.com

* Debt levels of highly-leveraged households bear watching -MAS * Household balance sheets healthy, debt growth has slowed * Private property prices have moderated but still 'elevated' (Adds comments from analyst) By Masayuki Kitano SINGAPORE, Nov 27 (Reuters) - Some highly-leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said on Thursday, asserting it will take more steps if needed to keep household debt at manageable levels. "Despite some moderation in the overall level of household indebtedness, the level of debt among highly leveraged households bears close watching," the Monetary Authority of Singapore (MAS) said in its annual Financial Stability Review. Official data showed Singapore's household debt was equivalent to 76.3 percent of gross domestic product (GDP) in the third quarter, compared with 71.9 percent two years earlier. According to Bank of America Merrill Lynch, at June 30 Malaysia's ratio was 86.5 percent and Thailand had 83.5 percent. Household debt is a concern in much of Asia, particularly as the U.S. Federal Reserve is expected to raise rates in 2015, which could lift Asian ones. Singapore and Hong Kong could be on the "front lines" of vulnerability to Fed tightening, as their interest rates have a particularly high correlation to U.S. levels due to the exchange-rate regimes they employ, said Tim Condon, Singapore-based head of Asia research for ING. Still, as Singapore authorities have taken prudential measures to curb household debt, it is unlikely to turn into a systemic issue, Condon said. PROACTIVE STANCE "It's almost certainly the case that there will be some stress when the Fed begins hiking," he said, adding that the "proactive" stance of Singapore authorities "will mean that it remains a micro problem and not a macro problem." In recent years, MAS has taken steps - including ones to cool the property market - to curb excessive household borrowing. It said expansion of household debt slowed to 5.6 percent year-on-year in the third quarter, from a 9.2 percent average over the last five years. The MAS said household balance sheets remained healthy, with household net wealth now about four times Singapore's GDP. Housing loans accounted for 74 percent of household liabilities as of the end of September, the MAS said. The central bank said it will continue to monitor the property sector and take appropriate steps to maintain a stable and sustainable market. Private property prices remain at an "elevated" level even though they have moderated, it said. The MAS said Singapore's banking system remains sound, is resilient to risks stemming from the property market and holds a healthy buffer against falls in property prices. (Editing by Richard Borsuk) ((masayuki.kitano@thomsonreuters.com; +65-6417-4682; Reuters Messaging: masayuki.kitano.thomsonreuters.com@reuters.net)) Keywords: SINGAPORE ECONOMY/MAS

China money market funds grow as foreign firms' "trapped cash" freed up

November 27, 2014 - reuters.com

By Saikat Chatterjee HONG KONG, Nov 27 (Reuters) - Rapid reforms by Beijing allowing foreign companies to move funds from their China operations across borders relatively freely is boosting treasurers' confidence in using the yuan as the preferred currency for doing business. That increased confidence has also helped China's fledgling money market funds industry as companies look to invest their cash in investment vehicles after years of parking funds in bank deposits which offered them next to nothing in terms of yield. For years, treasurers operating in China had to face the issue of "trapped cash": the inability to freely remit their funds to their regional treasury centres outside the mainland as the yuan was not freely convertible. That has changed in less than three years with Beijing now allowing multinationals to transfer yuan out of China without seeking regulatory approval, a big departure from the past when authorities used to scrutinize every cross-border transaction. Indeed, Beijing has gotten more confident about the success of these moves and earlier this month allowed foreign firms nationwide to move money from offshore centres back into China. "It is a key goal of the Chinese reform agenda and one area which is moving most quickly," said Brett Krause, president of JP Morgan Chase Bank (China) Company Limited. "It is a reflection of China's strong confidence in their currency and the importance placed on global trade." Allowing greater freedom for global companies to move yuan in and out of China achieves two goals: a renewed push to redenominate China's trade with the world in renminbi, currently at a fifth of its total trade; and encouraging treasurers to buy more yuan-investment products. "There are lots of benefits to using the renminbi in our inter-company invoicing in China as it creates a natural hedge and we save on transaction costs," said Robert Yenko, Singapore-based regional treasurer at giant chip-maker Intel INTC.O . That is prompting them to flock to Chinese money market funds as an option to park their working capital. Such investments offer at least 2-3 percentage points more in returns than bank deposits, plus tax breaks and easier settlement rules. Assets under management in more than 100 such funds in China have soared to nearly 900 billion yuan ($147 billion) at January 2014 from less than 200 billion yuan three years ago, according to data compiled by ratings agency Moody's Investors Services. ($1 = 6.1385 Chinese yuan renminbi) (Editing by Kim Coghill) ((saikat.chatterjee@thomsonreuters.com; 852-2843-6548; Reuters Messaging: saikat.chatterjee.reuters.com@reuters.net)) Keywords: CHINA TRADE/FUNDS

Australian extradited to U.S. in Silk Road online drugs bazaar case

November 27, 2014 - reuters.com

By Byron Kaye SYDNEY, Nov 27 (Reuters) - Australia has extradited a man to the United States to face trial for alleged involvement in Silk Road, a website where people bought illegal drugs like heroin using digital currency bitcoin, a government official said on Thursday. Peter Phillip Nash, 41, from Queensland, and two other men were charged with conspiracy to engage in narcotics trafficking, computer hacking and money laundering in relation to the website in December. ID:nL3N0MJ04P "I confirm that Peter Nash was surrendered to the United States pursuant to a request for his extradition," a spokeswoman for the Attorney General's Department told Reuters, without specifying when Nash left or when he would face trial. "The United States sought Mr Nash's extradition for prosecution for conspiracy to traffic narcotics, conspiracy to commit computer hacking and conspiracy to commit money laundering." The two other accused, aged 24 and 25, were arrested in the United States and Ireland and were administrators for the website, while Nash was a primary moderator, the U.S. indictment, made public in December, said. The charges followed the arrest in October 2013 of alleged Silk Road founder Ross Ulbricht, who is known online as "Dread Pirate Roberts and who faces trial in January. ID:nL2N0T71LF The U.S. indictment said Nash and the two younger men were part of Ulbricht's "small support staff" for Silk Road with salaries ranging from $50,000 to $75,000 a year. (Editing by Nick Macfie) ((byron.kaye@thomsonreuters.com; +612 9373 1815; Reuters Messaging: Reuters Messaging: byron.kaye.thomsonreuters.com@reuters.net)) Keywords: AUSTRALIA SILKROAD/EXTRADITION

Russian rouble falls on opening

November 27, 2014 - reuters.com

MOSCOW, Nov 27 (Reuters) - The Russian rouble fell against the dollar and euro early on Thursday, following oil prices which have weakened before a key OPEC meeting in Vienna. At 0705 GMT the rouble was down 0.9 percent against the dollar at 47.82 RUBUTSTN=MCX and 1 percent against the euro at 59.79. EURRUBTN=MCX (Reporting By Jason Bush, editing by Elizabeth Piper) ((jason.bush@thomsonreuters.com; +7 495 775 1242; Reuters Messaging: jason.bush.reuters.com@reuters.net)) Keywords: RUSSIA MARKETING/ROUBLE

Sri Lankan stocks extend losses; rupee forwards recover

November 27, 2014 - reuters.com

COLOMBO, Nov 27 (Reuters) - Sri Lankan stocks fell to an 11-week low on Thursday as investors pulled back over worries the defection of some ruling party members would result in a hung parliament after the Jan. 8 presidential polls. At 0555 GMT, the main stock index .CSE was down 0.91 percent or 65.19 points at 7,114.53, its lowest since Sept. 9, after falling 1.6 percent earlier in the session. Eight loyalists from President Mahinda Rajapaksa's United People's Freedom Alliance, including Health Minister Mithripala Sirisena, have defected since Rajapaksa announced the snap poll last week. Sirisena has resigned to contest against Rajapaksa as the consensus candidate of a united opposition. "The crossovers have raised concern over the political stability of the government and some believe it could result in a hung parliament, resulting in political instability," a stockbroker said on condition of anonymity. "At the moment, it is not clear who will win. But if we see a massive defection in parliament towards one side, then it will be clear who is going to win and that will help the market rebound." Turnover stood at 658.3 million rupees ($5.03 million), with 44.8 million shares changing hands. The four-day rupee forwards traded firmer on selling of dollars by exporters, dealers said. The spot currency LKR=LK and three-day forwards, or spot-next, were not traded after the country's central bank capped the currency at predetermined levels to prevent volatility. Central bank officials were not available for comment. Dealers said four-day forwards, or spot-next-next, were actively traded at 132.00/20 per dollar, up from Wednesday's closing level of 132.25/35. "The panic selling and depreciation fear seem to have eased and the rupee has settled at the 132.00 level," a currency dealer said. (1 US dollar = 131.0000 Sri Lankan rupee) (Reporting by Shihar Aneez; Editing by Biju Dwarakanath) ((shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net twitter:@shiharaneez)) Keywords: MARKETS SRI LANKA/

CNH Tracker-Hong Kong banks cut yuan deposit rates as stock connect disappoints

November 27, 2014 - reuters.com

By Michelle Chen HONG KONG, Nov 27 (Reuters) - Some Hong Kong banks have started to cut yuan deposit rates in the wake of the launch of a long-awaited "stock connect" scheme that attracted only muted interest and less-than-expected demand for the Chinese currency. The cut in deposit rates followed mainland China's first official interest rate cut in more than two years in as authorities attempted to energise an economy that is on track for its slackest annual growth in 24 years. ID:nL3N0TB3VW Banks in Hong Kong vied with each other to offer high interest rates this year to draw in new yuan funds as investment channels were significantly broadened while the sharp fall in the "redback" sapped investor appetite for yuan assets. The competition intensified as banks bet on robust demand for the currency for use in the Shanghai-Hong Kong stock connect scheme, a landmark link that gives foreign and Chinese retail investors unprecedented access to the two exchanges. One-year yuan deposit rates rose to as high as 3.4 percent before some banks began to lower them this week. China Construction Bank (Asia) set its new rate for one-year deposit 15 bps lower at 3.25 percent and Shanghai Commercial Bank offered 2.95 percent. Despite the cut, deposit rates in the offshore yuan market are still more attractive than the benchmark rate in the onshore market, which was trimmed by 25 basis points (bps) to 2.75 percent on Friday. "Some banks actively stored yuan funds in the past few months, but now they found demand for the currency was not as strong as expected," said Banny Lam, co-head of research at Agricultural Bank of China International in Hong Kong. "Yuan deposit rates offered by Hong Kong banks are likely to fall further in the coming months, following the rate cut in mainland China," Lam said. Profit-taking and concerns over the rules blighted trading via the Shanghai-Hong Kong stock connect, which saw the use of daily "northbound" quota shrinking last week. ID:nL3N0TA3GO Adding to the headwinds for foreign investors obtaining yuan to enter the Chinese market is that the H-share premium over its A-share counterparts has completely disappeared on an aggregate level and now shows a discount instead. So far, only 12 percent of the 300 billion yuan ($49 billion) northbound quota and 1.4 percent of the 250 billion yuan southbound quota has been used, according to Reuters data, much less than the market had expected. Tepid demand for the yuan also saw USD/CNH cross currency swap (CCS), a rate that reflects cost of borrowing the yuan currency in the offshore market, moving away from more than one-year highs. The three-month CCS rate, for example, fell to 3.3 percent on Thursday from a nearly 17-month high of 3.7 percent hit on Nov 10. WEEK IN REVIEW: * China's Industrial and Commercial Bank (ICBC) signed a pact with the Los Angeles city government to promote cross-border yuan trade and set up an offshore renminbi centre in California, the bank said on Saturday. ID:nL3N0TC03Q * China Merchants Bank Hong Kong branch completed its sale of a 2 billion yuan dim sum bond, which was priced at 3.95 percent for the 3-year tranche and 4.05 percent for the 5-year tranche. * The Hong Kong Futures Exchange, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing, will launch three metal mini-futures denominated in the yuan on Dec 1. The contract size for aluminium, zinc and copper futures will be 5 tonnes. * BNP Paribas (China) announced on Wednesday that it had further expanded its presence in the Shanghai Free Trade Zone with the opening of a new branch. CHART OF THE WEEK: Dim sum bond issuance in terms of proceeds and number of issues: http://graphics.thomsonreuters.com/dimsum/index.html RECENT STORIES: CNH Tracker-Stock connect scheme reduces dim sum issuers'costs Gap in China-Hong Kong trade numbers narrows, but still high ID:nL3N0TF2C5 EXCLUSIVE-EU regulatory concerns curb China stock link volumes ID:nL3N0TG4Y3 More stories about the CNH market CNH Daily onshore yuan reports CNY/ Daily China money market reports CN/ Offshore yuan rate CNH= Onshore yuan rate CNY=CN Offshore yuan dealt CNH=D3 Onshore yuan on CFETS CNY=CFXS THOMSON REUTERS SPEED GUIDES CN/OFFSHORE CN/HIGHLIGHT NDF/3 NDF/4 0#CNHBOND (1 US dollar = 6.1368 Chinese yuan) (Editing by Eric Meijer) ((michelle.chen@thomsonreuters.com; +852 2843 6587; Reuters Messaging: min.chen.thomsonreuters.com@reuters.net)) Keywords: MARKETS OFFSHORE/YUAN

DIARY- Turkey - to Jan 1

November 27, 2014 - reuters.com

UPDATE 2-Philippine economy slows to over 5-yr low, public spending scandal hurts

November 27, 2014 - reuters.com

* Q3 seasonally adj growth at 0.4 pct vs Q2, slowest since Q1 2009 * Annual Q3 GDP growth at 5.3 pct, weaker than expected * State spending falls, hurt by stimulus fund scandal * Farm sector declines 2.7 pct y/y, slowest in 5 years (Recasts, adds analyst comments, GDP data breakdown) By Karen Lema MANILA, Nov 27 (Reuters) - The Philippine economy slowed to its weakest pace in more than five years in the third quarter, hurt by a decline in public spending and farm output and signalling a longer-than-expected pause in the central bank's tightening cycle. The slower growth mirrors a slackening in regional economies, with a loss of momentum seen in Malaysia, Indonesia, Thailand and China. ID:nL3N0SJ3AM Data on Thursday showed Philippine gross domestic product rose a seasonally adjusted 0.4 percent in the September quarter from the previous three months, substantially below forecasts of 1.4 percent growth. It was the weakest since the first quarter of 2009 when GDP contracted 2.4 percent. "If public spending fails to recover in the next quarter, the central bank may delay normalisation of its interest rates to boost private investment," ANZ economists said in a research note. Prior to the latest GDP data, some analysts had expected the central bank will resume raising rates as early as the first quarter of 2015 ahead of an eventual normalisation in the U.S. Federal Reserve's policy rates. Now, a few see rates rising in the second half of next year. Governor Amando Tetangco said the central bank's current policy supports economic growth and that the inflation outlook was manageable, backing views it will stand pat at its December meeting after raising in July and September. ID:nP9N0QA022 The biggest drag on the economy was an annual 2.6 percent decline in public spending in the third quarter, the weakest in more than three years. A July ruling by the Supreme Court declaring parts of an economic stimulus fund illegal "is putting a chilling effect in the bureaucracy," said economic planning Secretary Arsenio Balisacan. ID:nL4N0Q03Q4 ANZ believes the economy will struggle to reach even 6.0 percent growth for the full year, below Manila's target of 6.5-7.5 percent. From a year earlier, the economy grew 5.3 percent in the third quarter, well below the expected 6.6 percent and the slowest since the fourth quarter of 2011. Encouragingly, manufacturing output grew 7.2 percent, suggesting the economy has some solid buffers to move it forward. "The Philippines is still growing above trend growth rate of 5 percent and still very good considering the global landscape," said Trinh Nguyen, economist at HSBC in Hong Kong. The Philippine peso PHP=PDSP slipped after the GDP data, while the stock market fell 0.9 percent. (Additional reporting by Neil Jerome Morales and Erik dela Cruz; Writing by Rosemarie Francisco; Editing by Shri Navaratnam) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.thomsonreuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/GDP

Turkey - Factors to Watch on Nov 27

November 27, 2014 - reuters.com

ISTANBUL, Nov 27 (Reuters) - Following are news, reports and events that may affect Turkish financial markets on Thursday. The lira TRYTOM=D3 was little changed at 2.2106 against the dollar by 0552 GMT, compared with 2.2105 late on Wednesday. Istanbul's main share index .XU100 closed up 0.85 percent at 84,243.31 on Wednesday. The benchmark 10-year government bond yield tTR240724TA=IS fell to 7.97 percent on Wednesday from Tuesday's 8.18 percent. GLOBAL MARKETS Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded. ID:nL3N0TH02F CORRUPTION INVESTIGATION A Turkish court has banned media from reporting on a parliamentary investigation into corruption allegations against four ex-ministers, a move the opposition says amounts to protecting thieves. ID:nL6N0TG2JZ OIL EXPORTS FROM CEYHAN Iraq's state oil marketer SOMO will sell its first cargoes out of the Turkish port of Ceyhan since March at the end of November after reaching a deal with the Kurdistan Regional Government last week, market sources said on Wednesday. ID:nL6N0TG428 Note: For a list of forthcoming events, see TR/DIARY . For other related news, double click on: Turkish politics TR-POL Turkish equities TR-E Turkish money TR-M Turkish debt TR-D Turkish hot stocks TR-HOT Forex news FRX All emerging market news EMRG All Turkish news TR For real-time quotes, double click on: Istanbul National-100 stock index .XU100 , interbank lira trading IYIX= , lira bond trading 0#TRTSYSUM=IS (1 US dollar = 2.2215 Turkish lira) (Writing by Dasha Afanasieva; Editing by Biju Dwarakanath) ((dasha.afanasieva@thomsonreuters.com; +90 212 350 7051;)) Keywords: TURKEY FACTORS/

South African Markets - Factors to watch on Nov 27

November 27, 2014 - reuters.com

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS South African Finance Minister speaks at Infrastructure Consortium for Africa meeting at 0730 GMT Statistics South Africa releases October PPI data at 0930 GMT SOUTH AFRICAN MARKETS South African stocks slipped on Wednesday, driven by losses in Africa's largest telecoms operator MTN MTNJ.J after the devaluation of the Nigerian currency. .J Yields on South African benchmark bonds fell towards the year's low on Wednesday as lower global oil prices improve prospects of benign inflation, while the rand gained on a weaker dollar. ZAR/ GLOBAL MARKETS Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded. MKTS/GLOB WALL STREET U.S. stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows. .N GOLD Gold dipped for a second session on Thursday, holding below $1,200 an ounce, as outflows resumed from the top bullion exchange-traded fund and traders remained cautious before an upcoming Swiss referendum on central bank bullion assets. GOL/ EMERGING MARKETS For the top emerging markets news, double click on urn:newsml:reuters.com:*:nTOPEMRG SOME OF THE MAIN STORIES OUT IN THE SOUTH AFRICAN PRESS: BUSINESS REPORT - Steel giant loses court battle over documents - Eskom profit drops 24 percent BUSINESS DAY - Woolies defiant on dealing with suppliers from Israel - South Africa business confidence plunges- Grant Thornton (Reporting by Zandi Shabalala) ((zandi.shabalala@thomsonreuters.com; +27 11 775 3158; Reuters Messaging: zandi.shabalala.thomsonreuters.com@reuters.net)) Keywords: MARKETS SAFRICA/DAYBOOK

S.Korean shares nearly flat, Samsung up on share buyback plan; won firmer

November 27, 2014 - reuters.com

(For the midday report, please click ID:nL3N0TH15C ) SEOUL, Nov 27 (Reuters) - South Korean shares closed nearly unchanged on Thursday after scaling to a 2-month intraday high earlier in the session, although sharp gains in blue-chip heavyweight Samsung Electronics provided a strong floor. The Korea Composite Stock Price Index (KOSPI) .KS11 ticked 0.06 percent higher to close at 1,982.09. Samsung Electronics 005930.KS , which accounts for 15 percent of KOSPI's total market capitalisation, soared 5.3 percent after the company announced a $2 billion share buyback plan on Wednesday after markets had closed. ID:nL3N0TG2F7 The South Korean won KRW= closed higher, finding support from exporter demand for month-end settlements while intervention from financial authorities was suspected to check the local currency's strength against the yen JPY= . The local currency KRW=KFTC was quoted at 1,098.4 to the dollar at the conclusion of onshore trade, compared with Wednesday's close of 1,106.5. (Reporting by Joonhee Yu; Editing by Anupama Dwivedi) ((joonhee.yu@thomsonreuters.com; 822 3704 5643; Reuters Messaging: joonhee.yu.thomsonreuters.com@reuters.net)) Keywords: MARKETS SOUTHKOREA/

African Markets - Factors to watch on Nov 27

November 27, 2014 - reuters.com

Freeport Indonesia says copper output at 80 pct of capacity

November 27, 2014 - reuters.com

By Michael Taylor and Dennys Kapa JAKARTA, Nov 27 (Reuters) - Production at Freeport-McMoRan Inc's FCX.N huge Indonesian copper mine has yet to return to full capacity after an export dispute with the government and disruption related to workers' safety concerns, the local CEO said on Thursday. Relations between Freeport and its workforce remain strained after a series of blockades following a fatal accident last month, with at least two protests staged this week, union officials told Reuters. The government had also imposed a partial closure for a period after the accident. A prolonged fall in output or a flare-up in worker unrest at the Papua mine, which employs around 24,000 people, could provide some support for copper prices CMCU3 and would be a test for Indonesia's new government. "In the short term, no significant impact," Freeport's local CEO, Rozik Soetjipto told Reuters by text when asked about the two protests earlier this week. "We can maintain production at 80 percent. "We have not fully recovered from the impact of the export ban and work stoppages since Oct 12 by some of our Grasberg workforce." Freeport halted exports from January until August after the government imposed a hefty export tax aimed at forcing miners to develop local processing. Under normal conditions, the Grasberg open pit produces around 140,000 tonnes of copper ore per day and the underground mine about 80,000 tonnes. While the vast majority of Freeport Indonesia workers continued to perform their daily functions, absenteeism at the Grasberg open pit had affected mining and mill rates in November, Eric Kinneberg, a spokesman for the Arizona-based firm, told Reuters by email. "The quarter-to-date impact has not materially affected FCX's consolidated sales volumes," Kinneberg added. "The company is working to restore full operations as soon as possible." Freeport unions cancelled a one-month strike due to start on Nov. 6 following talks in late October with the company's management. ID:nL4N0SQ6WX Three unions representing almost 11,000 workers had demanded changes in local management after four workers died in a Sept. 27 accident involving a truck. ID:nL4N0SM2NV Two demonstrations had taken place this week involving workers, former workers and local communities, said Albar Sabang, a senior union official. The first protest was an attempt to force Freeport to improve conditions for people living around the port area, while the second was to voice opposition to the Oct. 31 agreement that led to the strike being called off, he added. Relations between Freeport and the unions have been strained since a three-month strike in late 2011. (Additional reporting by Muhammad Yamin in Timika and Susan Taylor in Toronto; Editing by Alan Raybould) ((michael.taylor@thomsonreuters.com; +62)(0)(21 2992-7602; Reuters Messaging: michael.taylor.thomsonreuters.com@reuters.net)) Keywords: INDONESIA FREEPORT/CAPACITY

SNAPSHOT-India stocks, bonds, rupee, swap, call at 0431 GMT

November 27, 2014 - reuters.com

STOCKS .BSESN .NSEI ----------------------- BSE index down 0.04 pct and broader NSE index 0.05 pct lower as investors are cautious ahead of the expiry of derivative contracts on Thursday and release of economic data on Friday. .BO RUPEE INR=D2 -------------- Rupee little changed at 61.84/85 per dollar versus previous close of 61.8450/8550, amid demand from importers likely to meet month-end commitments. Dollar dips versus yen, euro and most other Asian currencies. INR/ GOVERNMENT BONDS IN084024G=CC ------------------------------- Benchmark 10-year bond yield up 2 bps at 8.16 pct, after the central bank announced an open market sale of up to 120 billion rupees worth of debt on Dec. 1, but the fall in global crude oil prices is likely to support prices. IN/ INTEREST RATE SWAPS INROIS MIOIS= ------------------------------------- Benchmark five-year swap rate up 2 bps at 7.27 pct, while one-year rate falls 1 bp to 7.84 pct. CALL MONEY INROND= -------------------- Cash rate at 8.05/8.10 pct, little changed from Wednesday's close of 8.00/8.05 pct. (Compiled by Dipika Lalwani) ((Dipika.Lalwani@thomsonreuters.com; 022-61807098; Reuters Messaging: dipika.lalwani@thomsonreuters.com)) Keywords: INDIA SNAPSHOT/

MIDEAST STOCKS - Factors to watch - November 27

November 27, 2014 - reuters.com

DUBAI, Nov 27 (Reuters) - Here are some factors that may affect Middle East stock markets on Thursday. Reuters has not verified the press reports and does not vouch of their accuracy. INTERNATIONAL/REGIONAL * Asia shares edge higher, oil tumbles to 4-year low MKTS/GLOB * Oil prices fall to 4-year lows as OPEC production cut looks unlikely O/R * MIDEAST STOCKS-Markets gloomy ahead of OPEC meeting ID:nL6N0TG2T9 * Gold slips further below $1,200 as fund outflows resume ID:nL3N0TH1A5 * Saudi, UAE signal no push for OPEC oil cut ID:nL6N0TG1E3 * INTERVIEW-UAE sees oil price stabilising, steps up pressure on non-OPEC ID:nL6N0TG2I9 * Libya's rival oil minister wants to attend OPEC meeting ID:nL6N0TG23Z * Libya's recognized government appoints new chairman of state oil firm ID:nL6N0TG50K * FACTBOX-OPEC oil ministers positions ahead of Thursday meeting ID:nL6N0TF2XY * Russia vows support for Syria's Assad to combat "terrorism" ID:nL6N0TG3TN * Syria "no-fly zone" not being considered: NATO general ID:nL6N0TG1HY * Iran parliament ends standoff with Rouhani, approves higher ed minister ID:nL6N0TG1NX * Domestic pressures in US, Iran threaten slow-moving nuclear talks ID:nL2N0TG01T * Iraqi finance minister to propose 2015 budget based on $70/barrel IQ-nL6N0TG39S * Baghdad red tape puts Iraq Internet under Kurdish control ID:nL6N0T604Q * Islamic State targeted in 17 air strikes by U.S., allies ID:nL2N0TG0YR * HSBC to refund Middle East, Africa customers for excessive fees ID:nL6N0TE2HA EGYPT * Egypt opens Rafah crossing to stranded Palestinians bound for Gaza ID:nL6N0TG3F5 * Egyptian pound steady on official, stronger on black market ID:nL6N0TG3FB * Kellogg and Abraaj battle for Egypt's Bisco Misr ID:nL6N0TG0S6 * Egyptian snack maker Edita plans $200 mln stock market listing ID:nL6N0TG2CQ * Egyptian inquiry into political violence seeks changes to protest law ID:nL6N0TG40N QATAR * Qatar runs covert desert training camp for Syrian rebels ID:nL6N0T94YB * TABLE-Qatar Oct trade surplus falls 13.7 pct y/y to $7.1 bln ID:nL6N0TG27N * Qatar bank CBQ says group CEO resigns, appointed advisor to board ID:nL6N0TG23X SAUDI ARABIA * Saudi Sipchem says affiliate restarts methanol production ID:nL6N0TG2UZ * New delays hit Saudi Aramco's Jizan refinery -sources ID:nL6N0TF0VN UNITED ARAB EMIRATES * Moody's upgrades Aldar's ratings to Baa3; stable outlook ID:nMDYchg3qM * Ex Arabtec CEO plans sale of remaining stake, seeks premium price-source ID:nL6N0TG2VU * Dubai's Amlak Finance signs financial, debt restructuring deal ID:nL6N0TG0XR KUWAIT * Kuwait's appeals court cuts insider trading fine against Al Ahli Bank chairman ID:nL6N0TG2K2 * Kuwait's Mabanee says to spend $910 mln on mall extension ID:nL6N0TG1K5 * Kuwait says will have to live with oil at $60, $80 or $100 ID:nL9N0TF01T (Compiled by Dubai newsroom) ((dubai.newsroom@reuters.com)) Keywords: MIDEAST FACTORS

Singapore c.bank says it might do more to contain household debt

November 27, 2014 - reuters.com

SINGAPORE, Nov 27 (Reuters) - Some highly leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said on Thursday, adding that it will take more steps if needed to keep household debt at manageable levels. "Despite some moderation in the overall level of household indebtedness, the level of debt among highly leveraged households bears close watching," the Monetary Authority of Singapore (MAS) said in its annual Financial Stability Review. "MAS will continue to monitor lending and borrowing activities, and take further measures where necessary to keep household debt at a manageable level," it added. A Bank of America Merrill Lynch report said that at June 30, Singapore household debt was equivalent to 75.6 percent of gross domestic product (GDP), while the highest level in Asia was Malaysia, at 86.5 percent The MAS said Singapore's household balance sheets remained healthy overall, with total household net wealth now at roughly four times the country's GDP. In recent years, MAS has taken a series of steps including ones to cool the property market to curb excessive household borrowing. It said expansion of household debt slowed to 5.6 percent year-on-year in the third quarter, down from a 9.2 percent average over the last five years. Housing loans accounted for 74 percent of household liabilities as of the end of September, followed by motor vehicle loans, which made up 3.6 percent of such debt, the MAS said. "The risk of a downturn in the global economy even as the supply of new housing comes onstream and rental markets weaken could put further downward pressure on the property market," it added. The central bank said it will continue to monitor the property sector and take appropriate steps to maintain a stable and sustainable market. Private property prices remained at an "elevated" level even though they have moderated, it said. The MAS said Singapore's banking system remains sound, is resilient to risks stemming from the property market and holds a healthy buffer against falls in property prices. (Reporting by Masayuki Kitano; Editing by Richard Borsuk) ((masayuki.kitano@thomsonreuters.com; +65-6417-4682; Reuters Messaging: masayuki.kitano.thomsonreuters.com@reuters.net)) Keywords: SINGAPORE ECONOMY/MAS

FOREX-Dollar dips versus yen, Aussie climbs on upbeat data

November 27, 2014 - reuters.com

* Decline in yields after lacklustre US data weighs on dollar * ECB Draghi's speech later in the day awaited for cues * Aussie edges up on better-than-expected capex number (Adds details, quotes) By Shinichi Saoshiro TOKYO, Nov 27 (Reuters) - The dollar edged down against the yen on Thursday after lacklustre U.S. economic data pushed Treasury yields lower and dulled investor appetite for the greenback. The dollar was down 0.2 percent at 117.555 yen JPY= , continuing its slow retreat from a seven-year high of 118.98 struck a week ago. Wednesday's disappointing U.S. consumer, housing and manufacturing data pushed the benchmark 10-year U.S. Treasury note yield US10YT=RR to a one-month low. "Market participants are taking this opportunity to trim some of their accumulated dollar long positions. As far as dollar/yen is concerned, there is also firm bargain-hunting demand on dips, keeping the pair in range as the market heads into U.S. Thanksgiving," said Junichi Ishikawa, a market analyst at IG Securities in Tokyo. U.S. financial markets are closed on Thursday for Thanksgiving, with many U.S. traders expected to take Friday off, although markets will be open. "For dollar/yen to go on offensive again, we may have to wait for next week's batch of U.S. data, notably the non-farm payrolls," Ishikawa said. Divergence of U.S. and Japanese monetary policies and a surge by Tokyo's Nikkei to multi-year peaks helped the greenback soar to the seven-year high against the yen. Many market participants, particularly foreign investors, sell yen to hedge their equities positions, so the dollar tends to gain whenever stocks rise. But Tokyo stocks have lost steam amid political uncertainty in Japan, where Prime Minister Shinzo Abe dissolved the lower house of parliament last week and called an election in December. Hints of concern by Japanese officials over the yen's weakness and a steady drop in Treasury yields have also weighed on the dollar. STEADY EURO The euro stood little changed at $1.2503 EUR= . The common currency almost touched a four-year trough of $1.2358 on Monday after European Central Bank President Mario Draghi threw the door open for more drastic easing measures. But the euro has bounced back, gaining close to one percent so far this week, as expectations of immediate ECB action have ebbed. "The consensus last week was that the ECB would begin buying bonds in December. But the consensus has changed this week in light of comments by officials like ECB's Constancio, and the euro was bought back as the ECB may stand pat in December after all," said Daisuke Karakama, chief market economist at Mizuho Bank in Tokyo. Prospects for the ECB launching bond buying in December were curbed after ECB Vice President Vitor Constancio said on Wednesday that the central bank will be able to gauge whether it needs to start buying sovereign debt to stimulate the euro zone economy in the first quarter of next year. ID:nF9N0RK01I The market looked to a speech by ECB's Draghi later in the session for potential hints on the timing of the bond buying launch. The Australian dollar rose 0.3 percent to $0.8572 AUD=D4 after paring modest losses in response to better-than-expected capex data. Australia's new capital expenditure rose 0.2 percent in the third quarter although economists polled by Reuters had expected a decline of 1.5 percent. ECONAU The indicator helped the Aussie crawl away from a four-year low of $0.8480 struck on Wednesday, following comments from a Reserve Bank of Australia official that the currency was overvalued. (Editing by Eric Meijer) ((shinichi.saoshiro@thomsonreuters.com; Reuters Messaging: shinichi.saoshiro.reuters.com@reuters.net)) Keywords: MARKETS FOREX/

Indian FX/debt factors to watch - Nov 27

November 27, 2014 - reuters.com

Philippine c.bank says current policy supportive of economy

November 27, 2014 - reuters.com

MANILA, Nov 27 (Reuters) - The Philippine central bank said on Thursday its current policy stance should help support economic activity, pointing to a generally manageable inflation outlook. The comments by central bank Governor Amando Tetangco, sent to reporters via SMS text message, backs views the central bank will likely keep its policy rate steady at its next meeting in December. "While GDP surprised to the downside, we expect GDP would continue to be buoyed by private consumption and as the NG (National Government) clears up spending bottlenecks. ID:nL3N0TH18F (Reporting by Rosemarie Francisco; Editing by Shri Navaratnam) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.thomsonreuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/CENBANK

India Morning Call-Global Markets

November 27, 2014 - reuters.com

EQUITIES NEW YORK - U.S. stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows. The Dow Jones industrial average .DJI rose 12.81 points, or 0.07 percent, to 17,827.75, the S&P 500 .SPX gained 5.8 points, or 0.28 percent, to 2,072.83 and the Nasdaq Composite .IXIC added 29.07 points, or 0.61 percent, to 4,787.32. For a full report, click on .N - - - - LONDON - Britain's top share index closed flat on Wednesday, erasing early gains, with weaker travel and leisure stocks offsetting a rebound in miners and strength in telecoms. The blue-chip FTSE 100 index .FTSE ended 1.97 points lower, or flat in percentage terms, at 6,729.17 points after hitting a session high of 6,765.01 in early trading, as losses in travel stocks were offset by gains in some other sectors. For a full report, click on .L - - - - TOKYO - Japanese stocks edged down on Thursday morning, as exporters were hit by the yen's rise against the dollar thanks to weak U.S. data, while many investors stayed on the sidelines before a U.S. holiday. The Nikkei .N225 fell 0.4 percent to 17,321.60 in midmorning trade after dropping 0.1 percent the previous day For a full report, click on .T - - - - HONG KONG - Hang Seng Index .HSI is trading 0.2 percent lower. For a full report, click on .HK - - - - FOREIGN EXCHANGE SYDNEY - The dollar edged down against the yen and euro in early trade on Thursday after lacklustre U.S. economic data pushed Treasury yields lower and dulled investor appetite for the greenback. The dollar was down 0.1 percent at 117.63 yen JPY= , continuing its slow retreat from a seven-year high of 118.98 struck a week ago. For a full report, click on USD/ - - - - TREASURIES NEW YORK - Benchmark U.S. Treasury yields hit their lowest levels in over a month on Wednesday, while long-dated yields hit more than one-month lows for a second straight day on weaker-than-expected U.S. economic data and continued low yields in Europe. A disappointing batch of U.S. data underpinned the bid for safe-haven Treasuries. Analysts said the data gave the U.S. Federal Reserve more reason to keep interest rates low and that the impact was pronounced given low volumes ahead of the U.S. Thanksgiving holiday on Thursday. For a full report, click on US/ - - - - COMMODITIES GOLD SINGAPORE - Gold held just below $1,200 an ounce on Thursday, despite weak U.S. data that would have typically boosted prices, as traders awaited stronger cues from a Swiss referendum on central bank bullion assets over the weekend. Spot gold XAU= edged up 0.1 percent to $1,198.70 an ounce by 0035 GMT. Liquidity was thin due to the U.S. Thanksgiving holiday. For a full report, click on GOL/ - - - - BASE METALS SYDNEY - Copper fell to a three-week low on Wednesday after soft U.S. economic data and as Chinese speculators hit the market amid worries about weak demand. Aluminium, however, gained on concern about shortages. Three-month copper CMCU3 on the London Metal Exchange (LME) fell to its lowest since Nov. 5 at $6,558 a tonne in intraday trade before paring losses to close 0.6 percent weaker at $6,570. For a full report, click on MET/L - - - - OIL NEW YORK - Oil prices fell in early Asian trading on Thursday as it became unlikely that producer club OPEC would announce large output cuts during a meeting this week, and after Chinese and U.S. stocks increased. Benchmark Brent futures LCOc1 were down 50 cents at $77.25 a barrel at 0205 GMT, close to four-year lows, and U.S. crude CLc1 was 56 cents weaker as $73.15 a barrel For a full report, click on O/R (Compiled by Indulal PM) ((indulal.p@thomsonreuters.com; +91-22-6180-7183; Reuters Messaging: indulal.p.thomsonreuters.com@reuters.net)) Keywords: MORNINGCALL INDIA

China c.bank says greatly reduces yuan intervention

November 27, 2014 - reuters.com

BEIJING, Nov 27 (Reuters) - China's central bank has greatly reduced its intervention in the yuan currency market CNY=CFXS , Vice Governor Hu Xiaolian said on Thursday as she reiterated the government's pledge to further free up the Chinese financial market. China will build a deposit insurance system, further liberalise the currency and interest rate markets, and quicken the convertibility of the yuan in the capital account, Hu said. (Reporting by Xie Heng and Koh Gui Qing; Editing by Paul Tait) ((guiqing.koh@thomsonreuters.com; +86 10 6627 1242; Reuters Messaging: guiqing.koh.reuters.com@reuters.net)) Keywords: CHINA ECONOMY/YUAN

Philippines' Q3 GDP growth at 0.4 pct, weaker than fcasts

November 27, 2014 - reuters.com

MANILA, Nov 27 (Reuters) - The Philippine economy grew a seasonally adjusted 0.4 percent in the third quarter from the previous three months, well below economists' forecasts, on slower growth across all sectors, the government said on Thursday. Economists polled by Reuters had forecast the economy would grow at a slower quarterly pace of 1.4 percent, after growth of 1.9 percent in the June quarter. Economic planning Secretary Arsenio Balisacan said in a media briefing it would be a "big challenge" to hit the low end of the 2014 growth target of 6.5 to 7.5 percent. (Reporting by Karen Lema; Editing by Shri Navaratnam) ((rosemarie.francisco@thomsonreuters.com; +632 841-8937; Reuters Messaging: rosemarie.francisco.reuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/GDP

CANADA STOCKS-OPEC meeting in focus as energy shares drag TSX down

November 26, 2014 - reuters.com

* TSX down 35.24 points, or 0.23 percent, at 15,038.41 * Eight of 10 main index sectors advance * Energy, mining shares fall with commodity prices (Adds comment; updates prices) By John Tilak TORONTO, Nov 26 (Reuters) - Canada's main stock index fell on Wednesday as the shares of energy producers dropped with oil prices, with investors looking ahead to the outcome of an Organization of the Petroleum Exporting Countries meeting later this week. The meeting is significant as it comes after months of volatility in the price of oil, which has plummeted over concerns about an imbalance in the commodity's supply and demand. Investors hopeful of a big supply cut were dealt a blow as OPEC leader Saudi Arabia and fellow member the United Arab Emirates indicated they were unlikely to push for a major change in oil output at the meeting. ID:nL6N0TG1E3 The energy sector, which has lost about a quarter of its value since the middle of June, remained under pressure. "The markets are skittish. The concern is that the OPEC guys are not stepping in to curtail production and put a floor under the oil price," said Paul Taylor, chief investment officer at BMO Asset Management. "Now the question is whether you go in and start (chipping) away at some of these names," he added. "I've got to believe that the upside-downside equation is now skewed more to the upside in terms of the commodity price." The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 35.24 points, or 0.23 percent, at 15,038.41. Eight of the 10 main sectors on the index were higher. The shares of energy producers declined 2.3 percent, with Suncor Energy Inc SU.TO losing 1.4 percent to C$39.07 and Canadian Natural Resources Ltd CNQ.TO giving back 1.6 percent to C$41.38. The gold-mining sector shed 2.1 percent, reflecting volatility in the bullion price. Barrick Gold Corp ABX.TO declined 1.6 percent to C$14.53, and Goldcorp Inc G.TO was down 2.7 percent to C$23.49. Financials, the index's most heavily weighted sector, advanced 0.4 percent. Toronto Dominion Bank TD.TO added 0.5 percent to C$57.08. (Editing by W Simon and Andre Grenon) ((john.tilak@thomsonreuters.com; 1-416-687-7918; Reuters Messaging: john.tilak.reuters.com@reuters.net)) Keywords: MARKETS CANADA/STOCKS

GLOBAL MARKETS-Dollar falls on weak U.S. data, stocks gain

November 26, 2014 - reuters.com

* Dow, S&P 500 set closing highs * Oil falls as market doubts OPEC production cut * U.S. Treasury yields drop on weak economic data (Adds U.S. market close) By Herbert Lash NEW YORK, Nov 26 (Reuters) - The dollar fell on Wednesday after disappointing U.S. home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The Dow and S&P 500 set all-time closing highs. The less-than robust data fed worries the U.S. economy might be losing momentum. Also feeding that concern was data showing U.S. consumer spending rose modestly in October while a key measure of business spending plans fell for a second straight month. "With the global backdrop being so weak, the onus is on the U.S. data to be very strong," said Chris McReynolds, head of U.S. Treasury trading at Barclays in New York. Sales of new U.S. single-family homes rose for a third straight month last month, but a downward revision to September's pace of sales suggested the housing market's recovery would remain gradual. ID:nL2N0TF1XS The Commerce Department said sales gained 0.7 percent to a seasonally adjusted annual rate of 458,000 units. Economists polled by Reuters had forecast a 472,000-unit pace last month. The slightly weaker data isn't enough to derail the rally in U.S. stocks, said Matthew Keator, partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. "While markets are fairly valued, when you consider the alternatives equities are still the best asset," Keator said. The dollar index, a measure of the greenback's value against a basket of six currencies .DXY , fell to a session low of 87.520 before retracing to 87.637, down 0.32 percent. The euro EUR= rose 0.28 percent against the dollar, to $1.2509. Against the yen, the dollar fell 0.2 percent, to 117.73 yen JPY= . MSCI's all-country world equity index .MIWD00000PUS rose 0.27 percent to 427.89 points, and the pan-European FTSEurofirst index .FTEU3 closed 0.02 percent higher at 1,389.18. Germany's blue chip DAX index .GDAXI advanced for a 10th session in a row, as investors bet on further ECB stimulus. The DAX ended 0.6 percent higher, enjoying its longest winning streak since May 2013. The Dow Jones industrial average .DJI closed up 12.81 points, or 0.07 percent, to 17,827.75. The S&P 500 .SPX rose 5.80 points, or 0.28 percent, to 2,072.83, and the Nasdaq Composite .IXIC added 29.07 points, or 0.61 percent, to 4,787.32. Benchmark U.S. Treasury yields fell to their lowest levels in over a month, while long-dated yields also hit more one-month lows on the weaker-than-expected U.S. economic data and continued low yields in Europe. The benchmark U.S. Treasury 10-year note US10YT=RR rose 4/32 in price to yield 2.2464 percent. The yield on German 10-year bunds DE10YT=TWEB fell to 0.73 percent, just above a trough of 0.716 percent hit in mid-October. Oil prices fell on increased signals from OPEC that it would hold off making any major production cuts this week. Benchmark Brent futures LCOc1 fell 58 cents to settle at $77.75 a barrel. U.S. crude CLc1 settled down 40 cents at $73.69 a barrel. O/R (Reporting by Herbert Lash; Additional reporting by Francesco Canepa and Patrick Graham; Editing by Leslie Adler and Cynthia Osterman) ((emelia.sithole@thomsonreuters.com; +44 207 542 6752; Reuters Messaging: emelia.sithole.thomsonreuters.com@reuters.net))

Keywords: MARKETS GLOBAL/

RPT-Suppliers face loss-making deals as miners tighten screws

November 26, 2014 - reuters.com

(Repeats story published late Wednesday; no changes to text) * Global mining sector has cut $20-25 billion in costs- E&Y * Iron ore, gold, coal prices hit multi-year lows * Tougher competition could lead to suppliers consolidation By Silvia Antonioli and Sonali Paul LONDON/MELBOURNE Nov 26 (Reuters) - Mining companies, compelled to cut yet more costs as metal prices fall, are ratcheting up pressure on suppliers of everything from diggers to diesel, forcing them to agree to financing deals and even loss-making sales to secure business. The mining sector's huge supply chain -- which builds equipment, maintains machinery and even feeds and clothes workers -- has benefitted from the industry's decade-long boom. But commodity prices have worsened almost relentlessly since their 2011 peak, thanks to weaker demand and growing output, and that has meant tough times for both miners and their suppliers. Shares in mining equipment and services firms have plunged 22 percent this year, worse than the 13 percent fall experienced by metals and mining companies overall. "Traditionally, the industry has taken all the risk and service providers have had a jolly good time. Now we demand that they partner in our risk," said Mark Bristow, chief executive of Africa-focused gold producer Randgold RRS.L . Competition among suppliers has been stiff for the last few years, as mining firms began to come under pressure from investors to cut back. They have already slashed a total of $20-25 billion in costs, according to Ernst & Young. But a further plunge in prices this year has made the pressure relentless -- just at the time when the oil sector too is suffering, forcing its own suppliers to consolidate. "For everyone, it is not life as usual anymore," said Russell Hallbauer, Chief Executive of Taseko Mines TKO.TO . "If we are buying something for a buck and we think we can get it for 75 cents somewhere else, then we are going to do that." For service companies, the shift to value has been devastating, given the high cost of many of the supply deals involved, often to provide or maintain expensive equipment in remote areas. "The company... finds itself competing more often on a pure price basis," said Francis McGuire, president and CEO of Major Drilling Group International MDI.TO , one of the world's largest drilling service providers, which swung into a loss in the first quarter. "These levels of pricing are not sustainable beyond the medium term as it will affect the capacity of the industry to maintain the quality of its equipment." <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic on performance of mining companies vs service providers: http://link.reuters.com/fam53w ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> BEND IT, UNTIL YOU BREAK IT To generate cash and avoid losing market share, some suppliers are selling off inventory, or accepting losses. Others are looking at more inventive ways, such as financing struggling mining companies in exchange for future business. Equipment hire firm Emeco Holdings EHL.AX sold about $60 million worth of idle fleet assets in the year to June 2014. U.S.-based drilling giant Boart Longyear BLY.AX -- whose clients include mining firms BHP Billiton BLT.L and Rio Tinto RIO.L -- recently averted collapse through a restructuring that gave U.S. distressed debt investor Centerbridge Partners a large stake in the company. "Unfortunately, in Australia, we are still seeing irrational pricing," Terence O'Connor, the chairman of drilling and blasting services firm Ausdrill told shareholders. "Inevitably, some of these companies will go to the wall." Ausdrill, with its shares near a 12-year low, has been hit by the collapse of one of its clients and faces tricky contract renegotiations. To shore up future prospects, it has helped fund small miners Azumah Resources AZM.AX and Mutiny Gold MYG.AX in deals designed to give it preferred status down the track. Others will also have to be creative to retain business going forward, or they might run the risk of being swallowed. "There is maybe a larger number of suppliers that the industry can support now," said Mike Elliott, global mining and metals leader at Ernst & Young. "I do think that there will be some consolidation that will bring that number back." (Additional reporting by Nicole Mordant in VANCOUVER, Susan Taylor in TORONTO, Aashika Jain in BANGALORE, Stephen Eisenhammer in SAO PAULO, Francesco Canepa in LONDON; Editing by Clara Ferreira Marques) ((silvia.antonioli@thomsonreuters.com; +44)(0)(20 7542 1755; Reuters Messaging: silvia.antonioli.reuters.com@reuters.net)) Keywords: MINING SUPPLY CHAIN/

GLOBAL MARKETS-Dollar falls on weak U.S. data, stocks eke out gains

November 26, 2014 - reuters.com

* Wall St slightly above break-even, near records * Oil falls as market doubts OPEC production cut * U.S. Treasury yields drop on weak economic data (Adds oil settlement prices, final 2 paragraphs) By Herbert Lash NEW YORK, Nov 26 (Reuters) - The dollar fell on Wednesday after disappointing U.S. home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The less-than robust data fed worries the U.S. economy might be losing momentum. Also feeding that concern were data showing U.S. consumer spending rose modestly in October while a key measure of business spending plans fell for a second straight month. Sales of new U.S. single-family homes rose for a third straight month last month, but a downward revision to September's pace of sales suggested the housing market's recovery would remain gradual. ID:nL2N0TF1XS The Commerce Department said sales gained 0.7 percent to a seasonally adjusted annual rate of 458,000 units. Economists polled by Reuters had forecast a 472,000-unit pace last month. "With the global backdrop being so weak, the onus is on the U.S. data to be very strong," said Chris McReynolds, head of U.S. Treasury trading at Barclays in New York. "Anytime it veers off that very strong course, people start decreasing their probability of a Fed move." Weaker data raises the likelihood that the Fed will wait longer to hike interest rates. The dollar index, a measure of the greenback's value against a basket of six currencies .DXY , fell to a session low of 87.520 before retracing to 87.655, down 0.30 percent. The euro EUR= rose 0.25 percent against the dollar, to $1.2505. Against the yen, the dollar fell 0.16 percent, to 117.78 yen JPY= . MSCI's all-country world equity index .MIWD00000PUS rose 0.19 percent to 427.58 points, and the pan-European FTSEurofirst index .FTEU3 closed 0.02 percent higher at 1,389.18. European shares inched higher, with Germany's blue chip DAX index .GDAXI advancing for the 10th session in a row, as investors bet on further ECB stimulus. The DAX ended 0.6 percent higher, enjoying its longest winning streak since May 2013. The Dow Jones industrial average .DJI fell 4.19 points, or 0.02 percent, to 17,810.75. The S&P 500 .SPX rose 3.45 points, or 0.17 percent, to 2,070.48 and the Nasdaq Composite .IXIC added 23.19 points, or 0.49 percent, to 4,781.44. Benchmark U.S. Treasury yields fell to their lowest levels in over a month, while long-dated yields also hit more one-month lows on the weaker-than-expected U.S. economic data and continued low yields in Europe. The benchmark U.S. Treasury 10-year note US10YT=RR rose 6/32 in price to yield 2.2376 percent. German 10-year bunds DE10YT=TWEB fell to yield 0.73 percent, just above a trough of 0.716 percent hit in mid-October. Oil prices fell on increased signals from OPEC that it would hold off making any major production cuts this week. Benchmark Brent futures LCOc1 fell 58 cents to settle at $77.75 a barrel. U.S. crude CLc1 settled down 40 cents at $73.69 a barrel. O/R (Reporting by Herbert Lash; Additional reporting by Francesco Canepa and Patrick Graham; Editing by Leslie Adler and Cynthia Osterman) ((emelia.sithole@thomsonreuters.com; +44 207 542 6752; Reuters Messaging: emelia.sithole.thomsonreuters.com@reuters.net))

Keywords: MARKETS GLOBAL/

GLOBAL MARKETS-Dollar falls on weak U.S. data, stocks eke out gains

November 26, 2014 - reuters.com

* Wall St slightly above break-even, near records * Oil falls as market doubts OPEC production cut * U.S. Treasury yields drop on weak economic data (Adds close of European bond, equity markets) By Herbert Lash NEW YORK, Nov 26 (Reuters) - The dollar fell on Wednesday after disappointing U.S. home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives. The less-than housing robust data fed worries the U.S. economy might be losing momentum. Also feeding those concerns were data showing U.S. consumer spending rose modestly in October while a key measure of business spending plans fell for a second straight month. Sales of new U.S. single-family homes rose for a third straight month last month, but a downward revision to September's pace of sales suggested the housing market's recovery would remain gradual. ID:nL2N0TF1XS The Commerce Department said sales gained 0.7 percent to a seasonally adjusted annual rate of 458,000 units. Economists polled by Reuters had forecast a 472,000-unit pace last month. "With the global backdrop being so weak, the onus is on the U.S. data to be very strong," said Chris McReynolds, head of U.S. Treasury trading at Barclays in New York. "Anytime it veers off that very strong course, people start decreasing their probability of a Fed move." Weaker data raises the likelihood that the Fed will wait longer to hike interest rates. The dollar index, a measure of the greenback's value against a basket of six currencies .DXY , fell to a session low of 87.520 before retracing to 87.659, down 0.30 percent. The euro EUR= rose 0.25 percent against the dollar, to $1.2505. Against the yen, the dollar fell 0.27 percent, to 117.65 yen JPY= . MSCI's all-country world equity index .MIWD00000PUS rose 0.19 percent to 427.54 points, and the pan-European FTSEurofirst index .FTEU3 closed 0.02 percent higher at 1,389.18. European shares inched higher, with Germany's blue chip DAX index .GDAXI advancing for the 10th session in a row, as investors bet on further ECB stimulus. The DAX ended 0.6 percent higher, enjoying its longest winning streak since May 2013. The Dow Jones industrial average .DJI fell 11.91 points, or 0.07 percent, to 17,803.03. The S&P 500 .SPX rose 2.49 points, or 0.12 percent, to 2,069.52 and the Nasdaq Composite .IXIC added 18.40 points, or 0.39 percent, to 4,776.65. Benchmark U.S. Treasury yields fell to their lowest levels in over a month, while long-dated yields also hit more one-month lows on the weaker-than-expected U.S. economic data and continued low yields in Europe. The benchmark U.S. Treasury 10-year note US10YT=RR rose 6/32 in price to yield 2.2394 percent. German 10-year bunds DE10YT=TWEB fell to yield 0.73 percent, just above a trough of 0.716 percent hit in mid-October. Oil prices were slightly lower after earlier tumbling to near four-year lows as traders grew increasingly convinced that OPEC would hold off making any major production cuts this week. Benchmark Brent futures LCOc1 were down 10 cents at $78.230 a barrel. U.S. crude CLc1 was down 4 cents at $74.05 a barrel. (Reporting by Herbert Lash; Additional reporting by Francesco Canepa and Patrick Graham; Editing by Leslie Adler and Cynthia Osterman) ((emelia.sithole@thomsonreuters.com; +44 207 542 6752; Reuters Messaging: emelia.sithole.thomsonreuters.com@reuters.net))

Keywords: MARKETS GLOBAL/

GLOBAL MARKETS-Dollar falls on weak U.S. data, stocks eke out gains

November 26, 2014 - reuters.com

* Wall St slightly above break-even, near records * Oil falls as market doubts OPEC production cut * U.S. Treasury yields drop on weak economic data (Adds U.S. market open, byline; dateline previously LONDON) By Herbert Lash NEW YORK, Nov 26 (Reuters) - The dollar fell on Wednesday after disappointing U.S. home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks are a better investment than other alternatives. The less-than housing robust data fed worries the U.S. economy might be losing momentum. Also feeding those concerns was data showing U.S. consumer spending rose modestly in October while a key measure of business spending plans fell for a second straight month. Sales of new U.S. single-family homes rose for a third straight month last month but a downward revision to September's pace of sales suggested the housing market's recovery would remain gradual. ID:nL2N0TF1XS The Commerce Department said sales gained 0.7 percent to a seasonally adjusted annual rate of 458,000 units. Economists polled by Reuters had forecast a 472,000-unit pace last month. "With the global backdrop being so weak, the onus is on the U.S. data to be very strong," said Chris McReynolds, head of U.S. Treasury trading at Barclays in New York. "Anytime it veers off that very strong course, people start decreasing their probability of a Fed move." Weaker data raises the likelihood that the Fed will wait longer to hike interest rates. The dollar index, a measure of the greenback's value against a basket of six currencies .DXY , fell to a session low of 87.520 before retracing to 87.587, down 0.38 percent. The euro EUR= rose 0.34 percent against the dollar, to $1.2516. Against the yen, the dollar fell 0.33 percent, to 117.56 yen JPY= . MSCI's all-country world equity index .MIWD00000PUS rose 0.19 percent to 427.56 points, and the pan-European FTSEurofirst index .FTEU3 was up 0.06 percent at 1,389.67. The Dow Jones industrial average .DJI fell 3.66 points, or 0.02 percent, to 17,811.28. The S&P 500 .SPX rose 1.94 points, or 0.09 percent, to 2,068.97, and the Nasdaq Composite .IXIC added 15.19 points, or 0.32 percent, to 4,773.44. Benchmark U.S. Treasury yields fell to their lowest levels in over a month, while long-dated yields also hit more one-month lows on the weaker-than-expected U.S. economic data and continued low yields in Europe. Brent crude oil dropped toward $77 per barrel after Iran signaled OPEC was unlikely to push for a major change in oil output despite a collapse in prices. Crude later pared losses. Benchmark Brent futures LCOc1 were down 28 cents at $78.05 a barrel. U.S. crude CLc1 was down 10 cents at $73.99 a barrel. (Reporting by Herbert Lash; Additional reporting by Francesco Canepa and Patrick Graham; Editing by Leslie Adler) ((emelia.sithole@thomsonreuters.com; +44 207 542 6752; Reuters Messaging: emelia.sithole.thomsonreuters.com@reuters.net))

Keywords: MARKETS GLOBAL/

CANADA STOCKS-TSX slips as energy shares drop ahead of OPEC meeting

November 26, 2014 - reuters.com

* TSX down 24.97 points, or 0.17 percent, at 15,048.68 * Five of 10 main index sectors decline * Energy, mining shares fall with commodity prices (Adds comment, updates prices) By John Tilak TORONTO, Nov 26 (Reuters) - Canada's main stock index declined on Wednesday as shares of energy producers dropped with oil prices ahead of an Organization of the Petroleum Exporting Countries meeting later this week. The meeting is significant as it comes after months of volatility in the price of oil, which has plummeted over concerns about an imbalance in the commodity's supply and demand. Investors hopeful of a big supply cut were dealt a blow as OPEC leader Saudi Arabia and fellow member the United Arab Emirates indicated they were unlikely to push for a major change in oil output at the meeting. ID:nL6N0TG1E3 The energy sector, which has lost about a quarter of its value since the middle of June, remained under pressure. "People don't quite know what to expect. The consensus is that OPEC will have a bit of a production cut but not a lot - not enough to make the price go up," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "We're obviously guarded about adding new money to the energy sector, and we'll have to wait another day or so to see what happens to prices," he added. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 24.97 points, or 0.17 percent, at 15,048.68. Five of the 10 main sectors on the index were in the red. 'Shares of energy producers fell 1.5 percent, with Suncor Energy Inc SU.TO losing 1.1 percent to C$39.21 and Canadian Natural Resources Ltd CNQ.TO giving back 1.1 percent to C$41.60. The gold-mining sector shed 1.4 percent, reflecting volatility in the bullion price. Barrick Gold Corp ABX.TO declined 1.5 percent to C$14.55, and Goldcorp Inc G.TO was down 1.6 percent to C$23.77. But financials, the index's most heavily weighted sector, advanced 0.3 percent. Toronto Dominion Bank TD.TO added 0.4 percent to C$57.03. (Editing by W Simon) ((john.tilak@thomsonreuters.com; 1-416-687-7918; Reuters Messaging: john.tilak.reuters.com@reuters.net)) Keywords: MARKETS CANADA/STOCKS

London gold 1500 fix - Nov 26 - 1197.50 dlrs

November 26, 2014 - reuters.com

Suppliers face loss-making deals as miners tighten screws

November 26, 2014 - reuters.com

* Global mining sector has cut $20-25 billion in costs- E&Y * Iron ore, gold, coal prices hit multi-year lows * Tougher competition could lead to suppliers consolidation By Silvia Antonioli and Sonali Paul LONDON/MELBOURNE Nov 26 (Reuters) - Mining companies, compelled to cut yet more costs as metal prices fall, are ratcheting up pressure on suppliers of everything from diggers to diesel, forcing them to agree to financing deals and even loss-making sales to secure business. The mining sector's huge supply chain -- which builds equipment, maintains machinery and even feeds and clothes workers -- has benefitted from the industry's decade-long boom. But commodity prices have worsened almost relentlessly since their 2011 peak, thanks to weaker demand and growing output, and that has meant tough times for both miners and their suppliers. Shares in mining equipment and services firms have plunged 22 percent this year, worse than the 13 percent fall experienced by metals and mining companies overall. "Traditionally, the industry has taken all the risk and service providers have had a jolly good time. Now we demand that they partner in our risk," said Mark Bristow, chief executive of Africa-focused gold producer Randgold RRS.L . Competition among suppliers has been stiff for the last few years, as mining firms began to come under pressure from investors to cut back. They have already slashed a total of $20-25 billion in costs, according to Ernst & Young. But a further plunge in prices this year has made the pressure relentless -- just at the time when the oil sector too is suffering, forcing its own suppliers to consolidate. "For everyone, it is not life as usual anymore," said Russell Hallbauer, Chief Executive of Taseko Mines TKO.TO . "If we are buying something for a buck and we think we can get it for 75 cents somewhere else, then we are going to do that." For service companies, the shift to value has been devastating, given the high cost of many of the supply deals involved, often to provide or maintain expensive equipment in remote areas. "The company... finds itself competing more often on a pure price basis," said Francis McGuire, president and CEO of Major Drilling Group International MDI.TO , one of the world's largest drilling service providers, which swung into a loss in the first quarter. "These levels of pricing are not sustainable beyond the medium term as it will affect the capacity of the industry to maintain the quality of its equipment." <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic on performance of mining companies vs service providers: http://link.reuters.com/fam53w ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> BEND IT, UNTIL YOU BREAK IT To generate cash and avoid losing market share, some suppliers are selling off inventory, or accepting losses. Others are looking at more inventive ways, such as financing struggling mining companies in exchange for future business. Equipment hire firm Emeco Holdings EHL.AX sold about $60 million worth of idle fleet assets in the year to June 2014. U.S.-based drilling giant Boart Longyear BLY.AX -- whose clients include mining firms BHP Billiton BLT.L and Rio Tinto RIO.L -- recently averted collapse through a restructuring that gave U.S. distressed debt investor Centerbridge Partners a large stake in the company. "Unfortunately, in Australia, we are still seeing irrational pricing," Terence O'Connor, the chairman of drilling and blasting services firm Ausdrill told shareholders. "Inevitably, some of these companies will go to the wall." Ausdrill, with its shares near a 12-year low, has been hit by the collapse of one of its clients and faces tricky contract renegotiations. To shore up future prospects, it has helped fund small miners Azumah Resources AZM.AX and Mutiny Gold MYG.AX in deals designed to give it preferred status down the track. Others will also have to be creative to retain business going forward, or they might run the risk of being swallowed. "There is maybe a larger number of suppliers that the industry can support now," said Mike Elliott, global mining and metals leader at Ernst & Young. "I do think that there will be some consolidation that will bring that number back." (Additional reporting by Nicole Mordant in VANCOUVER, Susan Taylor in TORONTO, Aashika Jain in BANGALORE, Stephen Eisenhammer in SAO PAULO, Francesco Canepa in LONDON; Editing by Clara Ferreira Marques) ((silvia.antonioli@thomsonreuters.com; +44)(0)(20 7542 1755; Reuters Messaging: silvia.antonioli.reuters.com@reuters.net)) Keywords: MINING SUPPLY CHAIN/

London platinum/palladium 1400 fix - Nov 26

November 26, 2014 - reuters.com

GLOBAL MARKETS-ECB stimulus bets lift Europe shares, Aussie sags

November 26, 2014 - reuters.com

* Aussie hits four-year lows versus the dollar * European shares at two-month high on ECB easing prospects * Asia supported after upward revision to U.S. GDP * U.S. 10-year yield hits one-month low, keeps dollar in check * Crude oil stabilises before Thursday's OPEC summit By Emelia Sithole-Matarise LONDON, Nov 26 (Reuters) - European shares rose on Wednesday, bolstered by hopes for more stimulus from the European Central Bank and upbeat U.S. economic data that calmed anxiety over a deteriorating global outlook. The Australian dollar hit a four-year low against its U.S. counterpart before U.S. data likely to prove crucial for this week's recovery of several currencies against the dollar. Euro zone government bonds and shares gained after ECB Vice President Vitor Constancio said on Wednesday the bank might decide in the first quarter of 2015 whether to buy sovereign bonds. His comments were the clearest indication yet of the timing of any purchases. ID:nL6N0TG1JA The pan-European FTSEurofirst index .FTEU3 was up 0.3 percent at 1,392.94. It has been rising daily since Friday, when ECB President Mario Draghi spoke on the likelihood of more stimulus and China cut interest rates. Germany's DAX index .GDAXI rose for the 10th straight day, its longest winning streak since May 2013. "We're long the DAX because America has outperformed hugely, and even though growth there is strong that is already in the price, whereas in Germany there's more to come," said Markus Huber, a senior trader at Peregrine & Black. U.S. stock index futures SPc1 NDc1 DJc1 were higher before economic data which may indicate whether the market's record highs are justified. ECONUS Investors were encouraged on Tuesday by an upgrade of U.S. third-quarter gross domestic product to 3.9 percent from 3.5 percent. Economists polled by Reuters had expected growth would be cut to 3.3 percent. ID:nLNNPMEA45 AUSSIE SLUMP The Australian dollar fell to a four-year low of U.S. $0.8499 AUD=D4 and below support around 1.09 New Zealand dollars AUDNZD= , above which it had held since August. The Aussie has suffered in a rally by the U.S. dollar since July, and Reserve Bank of Australia Deputy Governor Philip Lowe this week propelled it to as low as $0.8514 on Tuesday by saying it was still overvalued. "There are those who say the Aussie should bounce from these levels, but my feeling is if it breaks below (a key support) against the kiwi that may be significant," said Daragh Maher, a strategist with HSBC in London. The 10-year U.S. Treasury yield dropped to a one-month low of 2.252 percent US10YT=RR . Strong auction results, month-end buying and a drop in U.S. consumer confidence offset the GDP revision. That also helped the U.S. dollar slip from a seven-year high against the yen JPY= as investors took profits before Thursday's Thanksgiving holiday. The euro, up almost a cent against the dollar this week, dipped after Constancio's remarks to trade down 0.2 percent at $1.2454 EUR= . ID:nF9N0RK01I Oil prices steadied around $79 a barrel after Saudi Arabia's oil minister said the oil market would stabilise, easing pressure on the market before OPEC meets on Thursday. Benchmark Brent futures LCOc1 rose to $78.37 a barrel by 1250 GMT from $78 earlier in the day, after a meeting of Saudi Arabia and three other nations before Thursday's summit ended with no deal to curb output. Predictions range from a large OPEC output cut to none at all. O/R ID:nL9N0TF014 (Additional reporting by Francesco Canepa and Patrick Graham; Editing by Larry King) ((emelia.sithole@thomsonreuters.com; +44 207 542 6752; Reuters Messaging: emelia.sithole.thomsonreuters.com@reuters.net))

Keywords: MARKETS GLOBAL/

Burkina Faso transitional government to review mining contracts

November 26, 2014 - reuters.com

OUAGADOUGOU, Nov 26 (Reuters) - Burkina Faso's transitional government will review mining contracts agreed under former President Blaise Compaore, whose 27-year rule was ended by a popular uprising last month, new mines minister Colonel Boubacar Ba said on Wednesday. Ba, a member of a cabinet appointed on Sunday, told Reuters in an interview that the gold-producing nation will also push forward with plans to revise its mining code in order to make Burkina Faso more attractive to miners. (Reporting by Mathieu Bonkoungou; Writing by Joe Bavier; Editing by Emma Farge and Louise Heavens) ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters Messaging: joe.bavier.thomsonreuters.com@reuters.net)) Keywords: BURKINA MINING/CONTRACT

London gold 1030 fix - Nov 26 - 1195.75 dlrs

November 26, 2014 - reuters.com

London platinum/palladium 0945 fix - Nov 26

November 26, 2014 - reuters.com

INDICATORS - Kazakhstan - Nov 26

November 26, 2014 - reuters.com

India Morning Call-Global Markets

November 26, 2014 - reuters.com

MIDEAST STOCKS - Factors to watch - November 26

November 26, 2014 - reuters.com

DUBAI, Nov 26 (Reuters) - Here are some factors that may affect Middle East stock markets on Wednesday. Reuters has not verified the press reports and does not vouch of their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asia shares climb on US optimism, oil pressured before OPEC MKTS/GLOB * Brent crude drops towards $78 on worries over Asia's top economies O/R * MIDEAST STOCKS-Markets fall as investor hopes fade for OPEC output cut MEAST-STX * PRECIOUS-Gold eases from $1,200 as equities climb on U.S. economic data GOL-RTRS * Oil down 2 pct as pre-OPEC talks don't lead to output cut ID:nL3N0TF27E * Domestic pressures in US, Iran threaten slow-moving nuclear talks ID:nL2N0TF1FU * Yemeni forces free eight al Qaeda hostages; U.S. says no Americans ID:nL6N0TF07L * Moroccan parliament approves Islamic finance legislation ID:nL6N0TF47K * Kazakhstan on brink of WTO membership deal, Afghanistan in line ID:nL6N0TF3OB * Tunisian secularist wins first presidential round, heads for run-off ID:nL6N0TF277 * Pakistan to price dollar sukuk Wednesday; yield around 6.9 pct expected ID:nL6N0TF2UX * IFR - UPDATE: IFFIm sets IPTs of 3mL+mid-high teens on 3-yr FRN sukuk ID:nIFR4P2S16 * Islamic finance body IILM expands outstanding sukuk issuance ID:nL6N0TF2A3 * Libya's rival ruler could ban UN envoy, complicating peace talks ID:nL6N0TD0IA * Moody's says strengthening US growth to support MENA sovereigns'credit quality in 2015 ID:nWNAB05D3R TURKEY * Turkey's Finansbank secures syndicated loan worth $845 mln ID:nL6N0TF1M6 * Turkey in preliminary talks with Westinghouse on third nuclear plant ID:nL6N0TF1DB * Turkish October foreign visitor arrivals rise 1.09 pct - ministry ID:nI7N0RX01N * Turkey, U.S. ease strains on Islamic State but differences remain ID:nL6N0TE3IG EGYPT * Egyptian court lowers penalty for Mubarak-era steel tycoon ID:nL6N0TF3XZ * Egypt central bank seen keeping rates on hold amid nascent recovery ID:nL6N0TF3IC * Al-Futtaim to invest $700 mln in Egypt after dispute settled ID:nL6N0TF30H * Cyprus eyes gas exports to Egypt via pipeline ID:nL6N0TF2U9 * Mobinil may reject Egypt's landline licence-CEO ID:nL6N0TF1AQ * Pirelli signs MOU with Egypt for plant expansion ID:nI6N0T001L SAUDI ARABIA * Saudi builder Al Khodari proposes $133 mln capital hike ID:nL6N0TF0E2 UNITED ARAB EMIRATES * MEDIA-Jet Airways cuts domestic capacity to feed Etihad - Economic Times ID:nL3N0TG1EB * UAE jails man for belonging to "secret organisation" -agency ID:nL6N0TF47T * UAE regulator expects five firms on secondary market by mid-2015 ID:nL6N0TF1ZA * Dubai's Noor Bank eyes Turkish growth to beat competition ID:nL6N0T34JX KUWAIT * TABLE-Kuwait Oct inflation at 3.0 pct y/y ID:nL6N0TF30T BAHRAIN * Bapco seals 2015 gasoil, jet fuel term deals at lower premiums ID:nL3N0TF1XZ (Compiled by Dubai newsroom) ((dubai.newsroom@reuters.com)) Keywords: MIDEAST FACTORS

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