Archive for October 1st, 2008

UPDATE 2-Xstrata abandons Lonmin bid due to credit crisis

Wednesday, October 1st, 2008

(Adds analyst comment in paragraphs 3-5) By Eric Onstad LONDON, Oct 1 (Reuters) - Miner Xstrata Plc (XTA.L: Quote, Profile, Research, Stock Buzz) said onWednesday it would not make a formal $10 billion takeover offerfor No. 3 ...

NYSE Euronext completes American Stock Exchange buy

Wednesday, October 1st, 2008

PARIS, Oct 1 (Reuters) - NYSE Euronext (NEXS.PA: Quote, Profile, Research, Stock Buzz) (NYX.N: Quote, Profile, Research, Stock Buzz) hascompleted the acquisition of the American Stock Exchange, thetransatlantic stock exchange said on Wednesday. The takeover, announced in January, is expected to ...

D-Day for hedge funds as redemptions roll in

Wednesday, October 1st, 2008

By Svea Herbst-Bayliss and Jeffrey Hodgson BOSTON/HONG KONG (Reuters) - Hedge fund managers are facing D-day as investors demand back billions of dollars from ailing and healthy funds alike. Funds managers around the world said they are sitting on record ...

BOJ beefs up yen funding, credit worry keeps rates up

Wednesday, October 1st, 2008

* BOJ conducts rare same-day funding ops for one week * BOJ aims to ease daily cash concerns with long-term ops * Funding tightness remains as focus shifts to year-end By Chikako Mogi ...

GLOBAL ECONOMY-Credit crisis gloom spreads to Japan factories

Wednesday, October 1st, 2008

* Japan's tankan index for big manufacturers turns negative * U.S., eurozone, UK, PMIs to show manufacturing shrinking * India factory PMI shows slowest growth in 14 months * China PMI rebounds as ...

JGB futures slip, eyes on bailout plan and auction

Wednesday, October 1st, 2008

* JGB futures dip after overnight tumble in U.S. bonds * Rebound in Tokyo shares further pressures bonds * Caution ahead of Thursday's 10-year bond auction * BOJ tankan shows Japan business sentiment ...

ECB’s Trichet urges U.S. to pass bailout package – BBG TV

Wednesday, October 1st, 2008

FRANKFURT, Oct 1 (Reuters) - European Central Bank PresidentJean-Claude Trichet urged U.S. lawmakers to pass a $700 billionbank rescue package for "the sake of global finance", in aninterview published on Wednesday. "It has to go, for the sake of the U.S. ...

EMERGING EUROPE STOCKS – Factors to Watch Oct 1

Wednesday, October 1st, 2008

WARSAW, Oct 1 (Reuters) - Here are news stories, pressreports and events to watch which may affect Central/EasternEurope's financial markets on Wednesday. OTP, PKO BP Hungary's largest lender OTP Bank OTPB.BU held talks withPolish Treasury Minister Aleksander Grad about a potentialpurchase of a 21 percent ...

ArcelorMittal Kazakh unit sees lower 2008 output

Wednesday, October 1st, 2008

ALMATY, Oct 1 (Reuters) - The Kazakh unit of steel giantArcelorMittal (ISPA.AS: Quote, Profile, Research, Stock Buzz) expects its 2008 output to fall by morethan 30 percent due to shrinking global demand, it said onWednesday. ArcelorMittal Temirtau, which exports most of ...

CORRECTED-UPDATE 2-Greece’s MIG plans capital increase

Wednesday, October 1st, 2008

(Corrects throughout to make clear new shares will be a capital increase not arights issue) By George Hatzidakis ATHENS, Sept 30 (Reuters) - Greek buyout firm Marfin Investment Group (MIG)(MRFr.AT: Quote, Profile, Research, Stock Buzz) said on ...