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Feb 18, 2013

China’s Army Is Seen as Tied to Hacking Against U.S.: NYT | Breaking News Alert February 18, 2013

SPECIAL REPORT Monday, February 18, 2013 10:02 PM EST
A growing body of digital forensic evidence — confirmed by American intelligence officials who say they have tapped into the activity of a unit of cyberwarriors in China’s army — leaves little doubt that an overwhelming percentage of the attacks on American corporations, organizations and government agencies originate in and around a 12-story building on the outskirts of Shanghai.
An unusually detailed 60-page study, to be released Tuesday by Mandiant, an American computer security firm, tracks for the first time individual members of the most sophisticated of the Chinese hacking groups — known to many of its victims in the United States as “Comment Crew” or “Shanghai Group” — to the doorstep of the headquarters of a People’s Liberation Army unit.
While Comment Crew has drained terabytes of data from companies like Coca-Cola, increasingly its focus is on companies involved in the critical infrastructure of the United States — its electrical power grid, gas lines and waterworks.


BBC News | Business | India:18 February 2013 Last updated at 10:46 GMT

18 February 2013 Last updated at 10:46 GMT

Open up to UK firms, PM urges IndiaThe PM plays cricket in Mumbai

UK Prime Minister David Cameron says Britain and India can be one of the great partnerships of the 21st century, as he sets off for a three-day visit. 1338

Veerappan seen in this undated file photo.India Veerappan gang hanging delayed

India's Supreme Court puts on hold for three days the execution of four men convicted of being associates of notorious bandit Veerappan.

Imkong L Imchen Nagaland home minister detained

Nagaland Home Minister Imkong L Imchen is detained for allegedly carrying "a large amount of cash" and arms and ammunition, officials say.
Andrew North Article written by Andrew North Andrew North South Asia correspondent

The Indian politicians facing criminal charges

Many of India's serving politicians are accused of rape, murder and other serious crimes, but their cases have been stuck in an overloaded judicial system for years.
Read full article

NYT | Global Update February18, 2013.: Chávez Returns to Venezuela, His Health Still Unclear.

The New York Times International Herald Tribune
February 18, 2013
Compiled 21:45 GMT

Global Update


Chávez Returns to Venezuela, His Health Still Unclear

President Hugo Chávez, whose 10-week absence since undergoing cancer surgery in Cuba plunged Venezuela into uncertainty, arrived in Caracas Monday, sparking celebrations among his supporters.

U.N. Rights Panel on Syria Urges War Crimes Charges

Carla del Ponte, a United Nations human rights investigator, said that those responsible for war crimes in Syria should be held to account at the International Criminal Court in The Hague.

Pro-Gun Voices in Congress Are Open to Bullet Capacity Limits

Lawmakers in both parties view an assault weapons ban as politically toxic, but many seem more amenable to restricting the kinds of high-capacity magazines used in recent rampages.

Video: The Next Great One?

Connor McDavid, a 16-year-old star in his first season in the Ontario Hockey League, is an early favorite to be selected first in the 2015 N.H.L. entry draft.

Op-Ed Contributor

Anxious Whispers in Tripoli

The capital is calm, but the talk is of growing threats from radicals and militias across the land.

Anti-Apartheid Leader Forms New Party in South Africa

Mamphela Ramphele, a respected veteran of the anti-apartheid movement, announced the formation of Agang, meaning "build," in a challenge to the governing African National Congress.

In Russia, Ruins and Property Spared by Meteor, Side by Side

Infrasound waves, scientists say, would explain the apparent randomness of phenomena like cracked dishes and dead electronics behind unscathed windows.

Russian Scientists Say They Found Meteorite Fragments

Following reports that said no evidence of the meteor had been recovered in Lake Chebarkul, scientists said Monday that they had found "melted crust" in 53 small fragments.

Drug Makers, in Shift, Join Fight Against Doping

Pharmaceutical firms are trying to prevent their drugs from the fate of a blood-enhancing drug abused by athletes by joining with officials to develop tests for illicit use.

Hotels Carve Out Work Spaces, Rented Hourly

For some hotels, lobbies, business centers and meeting areas have become an untapped source of additional revenue and new customers who live and work nearby.

Reader's Digest Files for Bankruptcy, Again

The magazine's parent company filed for Chapter 11 protection late on Sunday in another attempt to cut down the debt that has plagued the pocket-sized publication for years.

On the Fast Track to a 3-D-Printed Future

Printing in 3-D shows more promise than other technologies that President Obama has pushed, but the question is whether the United States can get a foothold in manufacturing one 3-D printer at a time.

A Game Aims to Draw Attention to Women's Issues

A new social game intended to raise awareness about issues like female genital mutilation and child prostitution will be introduced on Facebook in March.

Back on Top at 31, Serena Williams Sets a Record

However you analyze it, Serena Williams's return to No. 1 should rank high on a list of career achievements that already includes 15 Grand Slam singles titles.

Langer Captures Second ACE; Shin Wins Australian Women's Golf Open

Bernhard Langer shot a final-round 72 to win the ACE Group Classic. In other action, Jiyai Shin of South Korea won the Australian Women's Open.

Player Overcomes Bullying and a Hiatus

Rebecca Marino has a fresh mind-set after taking a break from the WTA Tour because of threats and harsh criticism on the Internet.

Voting Rights Act Is Challenged as Cure the South Has Outgrown

An Alabama county contends that a main provision of the law that requires it to get permission before making changes that affect voting, has outlived its purpose of protecting minorities.

Obama Seeking to Boost Study of Human Brain

The Obama administration is planning a decade-long scientific effort to examine the workings of the human brain and build a comprehensive map of its activity.

With No Shortcut to a Green Card, Gay Couples Leave U.S.

Federal laws do not let Americans get green cards for same-sex partners, so often the immigrant must choose to stay illegally or the couple must move.
Op-Ed Contributor

Anxious Whispers in Tripoli

The capital is calm, but the talk is of growing threats from radicals and militias across the land.
Op-Ed Columnist

Beltway Foreign Policy

How the first-term Obama White House shunned diplomacy for domestic political calculation.
Op-Ed Columnist

Catholicism Inc.

The church is a troubled business. Maybe it should act like one.

Mine Project Is Out of This World, Chris Nelson | Money Show Investors Daily Alert February 18, 2013.


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ADVFN III Evening Euro Markets Bulletin February18, 2013.

ADVFN III Evening Euro Markets Bulletin
Daily world financial news Monday, 18 February 2013

London Market Report
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London close: Central banks and political risk in focus
    Market Movers techMARK 2,294.51 -0.62% FTSE 100 6,318.19 -0.16% FTSE 250 13,498.99 -0.44%
London equities finished slightly lower on Monday despite Wall Street having remained closed in observance of Presidents' Day, which usually leads to a positive bias in stocks.

Weighing on equities however were weak retail sales data out of China, which in turn weighed on equities. As well, the pro bail-out candidate in Cyprus's Presidential elections, Anastiasiades, took only 45.5% of the vote, short of the 50% needed, so elections will now move into a second round, scheduled for February 24th.

Chinese consumers reigned in their spending over the Lunar New Year festivities by the most in four years, as authorities cracked down on extravagant spending by the public sector. That in turn seems to have been the main culprit behind the falls seen in the prices of most industrial metals today.

Nevertheless, in the background analysts and investors were busy analysing the possible outcome – and implications - of the upcoming elections in Italy, this coming weekend. Sentiment seemed somewhat divided with economists at Credit Agricole arguing that the political risk in Italy remains too elevated to stay long the country's bonds.

For his part, Nobel Economics prize winner Paul Krugman was cited over the weekend as saying that a 'Grexit' was still 'more likely than not.'

No less important will be the fresh indications regarding US monetary policy - from Wednesday onwards - and the latest readings on the Eurozone's manufacturing and service sectors, on Thursday.

Also acting as a backdrop was the latest data from the US Commodity Futures Trading Commission (CFTC), which showed short speculative positions in Sterling outnumbering bullish ones for the first time in five months.
Chinese data weighs on miners
ITV's family net advertising revenues (NAR) could rise by between 8% and 14% in March according to industry forecasts, bank of America Merrill Lynch pointed out today, well ahead of the 6% gain seen in February. For that reason the broker has raised its price target on ITV to 125p from 117p before.

Miners were the worst performing group on the Footsie after news that Chinese retail sales at shops and restaurants increased by 14.7% in the February 9th to February 15th period versus a year ago. That was less than the 16.2% pace seen in 2012 and the slowest pace in four years.

Iberia, the Spanish subsidiary of London-listed IAG, announced 15 days of strike action.

The New York Times reported that Carnival will begin a detailed inspection of its Triumph ship, which was towed to shore last week following a small on-board fire.

Vodafone may approach Germany's largest cable provider Kabel Deutschland about a takeover bid as early as this week, according to several published reports.

Man Group rose today. Analysts at Merrill Lynch attributed the rise to speculation that the company's profits could be undergoing a 'normalisation.'

The Takeover Panel – the British watchdog - is being urged by investors to step in over the battle for control of troubled Indonesian coal miner Bumi plc. It comes as Bumi plc shareholders prepare to meet Thursday to vote on co-founder Nathaniel Rothschild's proposal to replace 12 of the 14 directors on the board.

Mark Coombs, the Chief Executive of Ashmore Group has been ordered to fly to the Philippines to answer questions over his firm's links to a businessman at the centre of a corruption scandal before an investigating committee of the Philippines senate.

Micro Focus confirmed on Monday that one of its subsidiaries has acquired Orbix, Orbacus and Artix software product lines from Progress Software Corporation, following a month delay, for $15m.

FTSE 100 - Risers 
Hammerson (HMSO) 504.00p +3.45%
ITV (ITV) 120.30p +2.82%
Aggreko (AGK) 1,708.00p +1.67%
Imperial Tobacco Group (IMT) 2,356.00p +1.64%
National Grid (NG.) 692.50p +1.54%
Severn Trent (SVT) 1,605.00p +1.33%
Morrison (Wm) Supermarkets (MRW) 263.90p +1.03%
Rexam (REX) 472.50p +0.77%
Prudential (PRU) 952.00p +0.74%
Standard Chartered (STAN) 1,729.50p +0.67%

FTSE 100 - Fallers 
Eurasian Natural Resources Corp. (ENRC) 390.30p -3.08%
Anglo American (AAL) 1,983.00p -2.75%
Kazakhmys (KAZ) 726.00p -2.75%
Evraz (EVR) 283.10p -2.21%
Antofagasta (ANTO) 1,098.00p -1.88%
ARM Holdings (ARM) 923.00p -1.81%
Carnival (CCL) 2,462.00p -1.72%
International Consolidated Airlines Group SA (CDI) (IAG) 224.20p -1.62%
Sage Group (SGE) 332.50p -1.60%
Petrofac Ltd. (PFC) 1,618.00p -1.58%

FTSE 250 - Risers 
New World Resources A Shares (NWR) 297.00p +8.95%
Rank Group (RNK) 167.40p +5.95%
Bumi (BUMI) 394.00p +4.43%
Ocado Group (OCDO) 129.00p +4.03%
Herald Inv Trust (HRI) 571.50p +3.16%
Betfair Group (BET) 705.00p +2.84%
LondonMetric Property (LMP) 116.80p +2.64%
Computacenter (CCC) 495.00p +2.48%
Man Group (EMG) 109.60p +1.86%
Sports Direct International (SPD) 427.70p +1.83%

FTSE 250 - Fallers 
Micro Focus International (MCRO) 644.00p -4.66%
African Barrick Gold (ABG) 283.00p -4.07%
Hochschild Mining (HOC) 425.10p -3.69%
Homeserve (HSV) 232.60p -3.69%
Ferrexpo (FXPO) 282.50p -3.68%
Daejan Holdings (DJAN) 3,400.00p -3.55%
Ashmore Group (ASHM) 362.20p -3.46%
Kentz Corporation Ltd. (KENZ) 395.90p -3.20%
RPS Group (RPS) 236.00p -2.88%
Devro (DVO) 370.20p -2.58%

FTSE TechMARK - Risers 
BATM Advanced Communications Ltd. (BVC) 18.00p +6.67%
Torotrak (TRK) 25.12p +3.61%
Consort Medical (CSRT) 689.00p +1.70%
Ark Therapeutics Group (AKT) 0.97p +1.56%
Vislink (VLK) 32.50p +1.56%
RM (RM.) 72.00p +1.41%
Xaar (XAR) 295.00p +1.37%
XP Power Ltd. (DI) (XPP) 1,142.00p +1.24%
Puricore (PURI) 45.00p +1.12%
Parity Group (PTY) 24.38p +1.04%

FTSE TechMARK - Fallers 
Phytopharm (PYM) 1.90p -81.00%
Hiwave Technologies (HIW) 0.20p -71.43%
Optos (OPTS) 208.00p -1.89%
E2V Technologies (E2V) 116.00p -1.69%
NCC Group (NCC) 148.00p -1.66%
Ricardo (RCDO) 400.00p -1.23%
Filtronic (FTC) 64.00p -1.16%
Innovation Group (TIG) 24.75p -1.00%
Wolfson Microelectronics (WLF) 200.00p -0.99%
Electronic Data Processing (EDP) 55.00p -0.90%

Europe Market Report
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Europe midday: Equities recover slightly
- Spanish bad bank loans dropped 100bp to 10.4 per cent in December
- Spanish 10 year bond yields up by 5bp to 5.25 per cent
- Banks deposited 131.9bn euros overnight at the ECB

FTSE-100: -0.22%
Dax-30: 0.18%
Cac-40: -0.06%
FTSE Mibtel 30: -0.54%
Ibex 35: -0.29%
Stoxx 600: -0.30%

European equities were slightly lower by midday. That came ahead of an auction of medium and long-term debt, by the Spanish Treasury, on Thursday, and Italian elections on the weekend.

As regards the latter, Credit Suisse indicated on Monday morning that "while all recent polls have continued to support a relatively reassuring central scenario for markets - a victory of the pro-European centre-left, probably able to form a government with the support of Mario Monti's centrists - there are several alternative and sub-scenarios that cannot be dismissed. These imply that the Italian elections remain a significant risk event."

Acting as a backdrop, and to be had in account, this past weekend's summit of G-20 finance ministers refrained from criticising the expansionary monetary policies undertaken recently by Japan.

Not to be lost sight of either, investors will be closely watching the flow of economic releases and policy speeches this week, Stateside, so as to better gauge where monetary policy in the world's largest economy is headed next.
Carlsberg loses its fizz
Danish brewer Carlsberg has announced fourth quarter earnings of 2.15bn kroner (£249m) from 1.83bn kroner in the same period a year earlier. That was, nevertheless, quite a bit less than what analysts had been forecasting.

Shares of French investment bank Natixis are jumping by 19% after unveiling a €2bn pay-out.

UBS has cut Novozymes to sell from neutral.

From a sector stand-point the worst performers today are: Basic Resources (-1.15%), Technology (-0.73%) and Travel&Leisure (-0.72%).
Eurozone current account
The Eurozone's current account surplus for the month of December has come in at €27bn, versus €20.8bn a year ago.
Other asset classes mixed

The euro/dollar is now falling by 0.03% to the 1.3357 dollar mark.

Front month crude futures are now falling slightly, by 0.034 dollars to the 117.62 dollar per barrel mark on the ICE.

US Market Report
Markets Closed

Broker Tips
Broker tips: Amec, RSA, Anglo American
Canadian brokerage firm Canaccord Genuity is forecasting 'weak growth' for AMEC, the FTSE 100-listed engineering consultancy firm which published its full year results last Thursday.

For that reason it downgraded its profit forecasts for 2013 by 4% and by 2.5% for 2014 following the company's results and presentation.

James Evans, a broker at Canaccord Genuity, has also given AMEC shares a "hold" rating with a target of 1,215p.

Describing his view of AMEC's growth prospects for the year, he said: "AMEC's growth in 2013 is likely to be weak and we forecast just 3% [profit growth] on an underlying basis this year, with Mining and Oil sands material headwinds.

Despite all of the above he believes that last week's falls were overdone.

Analysts at Panmure Gordon have on Monday morning issued a research note telling clients to 'hold' on to shares of non-life insurer RSA. In their view the company's valuation is fully up to speed, given the improving but still challenging trading conditions.

In greater detail, they explain how the shares' upside is likely to be restricted by their current valuation metrics, which are now at a relatively high price/net tangible asset value ratio of 2.1 times and a price-to-earnings multiple of 10.8. The downside, on the other hand, ought to be limited given the firm's 7.1% dividend yield.

Nevertheless, they have raised their price target on the shares to 130p from 110p before.

Credit Suisse wrote today to clients telling them he expects Anglo American's net debt to climb, providing limited options for growth for incoming Chief Executive Officer Mark Cutifani.

The broker explained that the group's levels of capital expenditure (capex) are still increasing and are now greater following raised capex guidance from management, while free cash flow is negative despite operational improvement across the mining company and an improved earnings forecast for this year. Hence the increase in debt levels and the limited scope for new projects.

The company raised its guidance on capex for 2013/2014 to between $7.5-8bn and $6.5-7bn, whereas the broker had previously modelled $6bn and less than $5bn, respectively.

"Without a more fundamental shake up of the business shape (e.g. stake sales, mergers and acquisitions), in our view the value case for Anglo American remains elusive and long dated," Credit Suisse stated as it reiterated its 'neutral' rating and £21 target.

MarketWatch | Europe Markets at Close Report February 18, 2013.: European stock markets dropped on Monday, with shares of Carlsberg AS among the biggest decliners

By Sara Sjolin, MarketWatch 

LONDON (MarketWatch) European stock markets dropped on Monday, with shares of Carlsberg AS among the biggest decliners after a disappointing earnings report.

The Stoxx Europe 600 index XX:SXXP -0.20% lost 0.2% to close at 286.76, losing ground for a third straight day. 

U.S. markets were closed for the Presidents Day holiday.

Tips to lower insurance on homes
For some luxury homeowners, one home insurance policy isn't enough to get full coverage. MarketWatch's Christopher Noble discusses three ways that will help owners of property worth $1 million and more to lower insurance costs. (Photo: Getty Images) 

“Today is a featureless day with the markets not doing very much,” said John Redwood chief of the investment committee at Evercore Pan-Asset, referring to the U.S. market closure and a lack of major economic-data releases. 

“We did get some reassurance that Germany is likely to avoid recession and that would be taken as good news,” he said. ”A strong Germany is helpful for the recovery and is more likely to help other European countries.” 

Shares of Carlsberg AS DK:CARLB -5.81% slumped 5.8% after the Danish brewer said market dynamics in 2013 are expected to be similar to those of 2012, while posting a fourth-quarter result below expectations. See: Carlsberg looks to Asia amid Europe challenges

Shares of Telefonica SA ES:TEF -1.06% fell 1.1%. The telecom firm said late Friday that it will take a 438 million euro ($586 million) hit on its 2012 earnings to reflect the impact of Venezuela’s recent currency devaluation.

On an upbeat note, shares of Natixis FR:KN +22.47% jumped 22.5% as the French bank said it plans to sell holdings valued at €12.1 billion to simplify its structure. That will create an exceptional distribution to the shareholders of €2 billion. Additionally, Citigroup lifted the bank to buy from neutral. 

The broader European market failed to take inspiration from an upbeat mood in Asia. 

Japanese shares soared as the Group of 20 nations didn’t single out Japan for weakening its currency. 

Instead the group said it would refrain from competitive devaluation and pledged to monitor negative currency spillovers to other countries amid talks of currency wars between major world economies. See: G-20 moving against ‘competitive devaluation’ and See: Japan stocks soar as yen retreats; China slips

“It is quite clear now that there will be no international criticism of Japan as long as its exchange rate isn't the target of its economic policies. This is positive for financial markets and the global economy as expansionary monetary policy in the major economies is helping to stabilize global growth,” analysts at Danske Bank said in a note.

“The discussion of a ‘currency war’ is also somewhat arbitrary as all monetary-policy changes have the potential to affect a country’s exchange rate and one could therefore also label interest-rate cuts as currency manipulation,” they said. See: First rule of currency war: Don’t say currency war

In the same vein, the euro EURUSD -0.02% slipped to $1.3348 after European Central Bank President Mario Draghi in remarks to the European Parliament committee repeated that the euro’s exchange rate is an important factor, but not a policy target. 

Draghi repeated that the ECB would monitor the impact of the euro’s moves on its inflation assessment. See: Draghi repeats FX rate important, but not a target .


Among notable movers in Europe, German shares rose after the Bundesbank in its monthly report said Germany will avoid recession and return to growth in the first quarter of 2013, with an improvement in the industrial sector supporting the recovery. Data showed last week that the German economy—Europe’s largest—contracted 0.6% in the fourth quarter of 2012. See: Bundesbank expects first-quarter German GDP growth

The DAX 30 index DX:DAX +0.46% gained 0.5% to 7,628.73.
Shares of Deutsche Lufthansa AG DE:LHA +2.01% gained 1.7% as Deutsche Bank lifted the airline to buy from hold. 

L.A. Auto Show Enlarge Image
BMW shares drop on Monday after a broker downgrade.
Daimler AG DE:DAI +1.04% picked up 1.1% after UBS added the car maker to its most preferred list. 

Shares of BMW AG DE:BMW -0.16% slipped 0.4% as UBS cut the firm to neutral from buy. 

Elsewhere, mining firms posted some of the biggest losses. 

In the U.K., shares of Anglo American UK:AAL -2.75% lost 2.8%, after the miner said a total of 12 workers and security personnel were injured with rubber bullets at an Anglo American Platinum Ltd.’s ZA:AMS -1.23% South Africa mine. Anglo American holds a majority stake in Anglo American Platinum.

The FTSE 100 index UK:UKX -0.16% closed 0.2% lower at 6,318.19, with Royal Bank of Scotland Group PLC UK:RBS -1.42% RBS -1.93% off 1.4%. See: Vodafone weighs on FTSE 100; miners drop
And in France, BNP Paribas SA FR:BNP -1.36% lost 1.4%. 

Shares of Accor SA FR:AC -2.49% erased 2.5%, as Deutsche Bank cut the hotel operator to sell from hold. 

The CAC 40 index FR:PX1 +0.18% however, closed 0.2% higher at 3,667.04, with oil group Total SA FR:FP +0.39% TOT -1.34% up 0.4% 

Outside the major indexes, shares of Novozymes AS DK:NZYMB -2.60% lost 2.6% after UBS cut the enzyme manufacturer to sell from neutral, saying the valuation is too optimistic given the current growth targets. 

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.