Pages

Search This Blog

Translate

Search Tool




Nov 28, 2013

NYT | Asian Morning Today's Headlines.

The New York Times
NYT Apps|Subscribe: Digital / Home Delivery

Friday, November 29, 2013


Top News
A Japanese patrol plane, pictured in 2011, flying over the disputed islands in the East China Sea.
China Sends Jets Into 'Air Defense' Zone After Flights by Japan and South Korea

By MARTIN FACKLER

The Chinese jet fighters were sent in after Japan and South Korea defied demands by Beijing that it be notified of all traffic entering the zone.
. After Challenges, China Appears to Backpedal on Air Zone
Antigovernment protesters gathered outside the Defense Ministry in Bangkok on Thursday.
Thai Leader Survives Vote as Protests Continue

By THOMAS FULLER

The number of antigovernment protesters appeared to drop sharply Thursday as Thailand's prime minister, Yingluck Shinawatra, urged that the demonstrations cease.
Iran Invites Inspectors to Nuclear Site

By ALAN COWELL

The invitation to the International Atomic Energy Agency came five days after Tehran struck a landmark nuclear deal with world powers.

For more top news, go to INYT.com
Editors' Picks

OPINION

Slide Show SLIDE SHOW: Myanmar's Empty Capital
Patrick Chappatte visits surreal Naypyidaw.

OPINION | EDITORIAL

Silencing Dissent in Egypt

By THE EDITORIAL BOARD

Injustices of the Mubarak era are being repeated, and the Obama administration has struggled to find an effective policy response.
World
China's Move Puts Airspace in Spotlight

By RICK GLADSTONE and MATTHEW L. WALD

Who has the right to fly where is an issue that has created confusion, and danger, in places affected by territorial disputes.
President Obama with President Xi Jinping of China at the Group of 20 summit meeting in St. Petersburg, Russia, in September.

LISTENING POST

Chinese Claim Forces Obama to Flesh Out His Asia Strategy

By MARK LANDLER

The Chinese declaration of an "air defense identification zone" led the United States to jump off the fence in a territorial dispute between China and Japan that has mushroomed into a dangerous standoff.
A French armored vehicle patrolled Bangui, capital of the Central African Republic, on Wednesday.

LETTER FROM EUROPE

Recasting France's Role in Africa

By ALAN COWELL

The Central African Republic is the newest focus of an effort by President François Hollande to revive his nation's influence in Africa.
For more world news, go to NYTimes.com/World
Business
Chancellor Angela Merkel, center, with leaders from the Social Democrats and the Christian Social Union after signing a coalition contract in Berlin on Wednesday.
German Rivals Reach Pact for Coalition Government

By ALISON SMALE and MELISSA EDDY

The agreement between Chancellor Angela Merkel's conservative bloc and the center-left Social Democrats would introduce Germany's first minimum wage.
. German Consumer Sentiment Rises to 6-Year High
Japan Shares Soar, Driven by Falling Yen

By THE ASSOCIATED PRESS

Japan's Nikkei stock index was the standout performer in global markets Thursday, reaching its highest level in almost six years, spurred by speculation of further monetary stimulus.

DEALBOOK

UBS Combines Investment Banking Businesses

By CHAD BRAY

The Swiss bank has taken steps to shrink its investment bank and shift focus away from riskier trading activities to wealth management and retail operations.
For more business news, go to INYT.com/Business
Technology
A parking garage in Santa Monica, Calif., uses smart technology to inform spot-seekers of how many empty spaces are available on each level.
Secret Weapon in Mall Battle: Parking Apps

By JACLYN TROP

Smartphone apps are one way malls and shopping districts are trying to make parking easier to lure customers away from their computers and back into the realm of brick-and-mortar stores.
. Comment What Does Black Friday Mean for You?
(It won't hurt a bit.) Researchers went back over health reports and measured the drop in disease after a vaccine was introduced.

BITS BLOG

The Vaccination Effect: 100 Million Cases of Contagious Disease Prevented

By STEVE LOHR

The estimate of prevented diseases, published in an article in The New England Journal of Medicine, is an analysis of some of the data in a broad project to digitize disease report records going back to 1888.
For more technology news, go to NYTimes.com/Tech
Sports
Julia Mancuso training in Beaver Creek, Colo., for the opening speed races of the season.
Julia Mancuso Carves Her Path in Lindsey Vonn's Shadow

By KELLEY McMILLAN

Julia Mancuso, who has patched up her relationship with Lindsey Vonn, isn't the superstar on the U.S. team, but she does rack up her fair share of medals.
Manchester United players celebrating after Emir Spahic of Leverkusen scored an own goal in a Champions League match Wednesday.
Manchester United Finds a Bundesliga Weak Spot

By ROB HUGHES

Both Bayern Munich and Dortmund are legitimate powers in Europe, but Manchester United proved that other teams, like Leverkusen, are more than vulnerable in its 5-0 victory.
For more sports news, go to INYT.com/Sports
U.S. News
Workers removing a tool near the H-Tank farm complex at the Savannah River Site in Aiken, S.C.
Slow Cleanup of Bomb Waste Pits South Carolina Against Washington

By MATTHEW L. WALD

The Energy Department began cleaning up the Savannah River nuclear weapons plant in 1996, and now says the work may not be finished until the 2040s.
. Photographs  Slide Show: Slowdown in Radioactive Waste Cleanup
Rise in Unprotected Sex by Gay Men Spurs H.I.V. Fears

By DONALD G. McNEIL Jr.

The number of men who told federal health investigators that they had had unprotected anal sex in the last year rose nearly 20 percent from 2005 to 2011.
Lack of Doctors May Worsen as Millions Join Medicaid Rolls

By ABBY GOODNOUGH

Under the new health care law, a wave of additional Americans will soon be covered by Medicaid, a program that has struggled with a shortage of doctors willing to accept its low reimbursement rates and red tape.
For more U.S. news, go to NYTimes.com/US
Opinion

OP-ED CONTRIBUTOR

Bosnia, in Peril Once More

By KATI MARTON

The country is slipping back into a dangerous sectarianism. How long before the next Milosevic lights the fuse?

EDITORIAL

More Money to Treat AIDS Abroad

By THE EDITORIAL BOARD

Doubling the number of people who get antiviral treatments by the end of 2016 would slow the epidemic.
Roger Cohen
The Quest to Belong

By ROGER COHEN

Opportunity is the bright star of the immigrant story. Its black sun is displacement and loss.

ADVFN III Evening Euro Markets Bulletin November 28, 2013.


ADVFN IIIEvening Euro Markets Bulletin
Daily world financial newsThursday, 28 November 2013

London Market Report
To view the charts please add newsdesk@advfn.com to your contact list
FTSE 100EuronextDax perfCAC 40
Enable images to view FTSE 100 chartEnable images to view Euronext chartEnable images to view Dax perf chartEnable images to view CAC 40 chart
Please click on the images to view our interactive charts
London close: Markets inch higher on quiet day, but housing stocks sink
- FTSE 100 edges higher, global equities close to six-year high
- US markets closed for Thanksgiving
- Housing, tobacco stocks pressured by government policy

techMARK 2,668.00 +0.35%
FTSE 100 6,654.47 +0.08%
FTSE 250 15,431.80 +0.16%

The FTSE 100 registered small gains on Thursday on a relatively quiet day for financial markets with indices in the States closed for the Thanksgiving holiday.

Nevertheless, record closes for the Dow Jones Industrial Average and S&P 500 on Wall Street on Wednesday night helped boost markets across Europe with the FTSE All-World equity index trading close to a six-year high of 264.7.

London’s benchmark index finished just five points higher at 6,654.47 after trading within a narrow range for most of the day, as strong gains in the mining sector were partly offset by weakness in housing and tobacco.

With an absence of US data today and very little out from the UK, the focus was on economic indicators from theEurozone during the session. While business confidence in the single-currency region improved in November, consumer confidence declined.

Meanwhile, figures from Germany showed that unemployment in Europe's largest economy rose to its highest level since April 2011. The number of people out of work climbed for the fourth straight month in November, up 10,000 to 2.985m, much worse than the 1,000 increase expected by analysts.

Housing stocks fall on mortgage concerns

Housing stocks were under pressure today after the Bank of England announced it will scale back a scheme to boost mortgage lending as evidence begins to point to a housing market boom. The Funding for Lending Scheme will now focus solely on enabling greater lending to small firms that are having difficulties with borrowing as house price inflation looks set to accelerate further. Persimmon, Travis Perkins, Taylor Wimpey, Bovis Homes and Barratt Developments were all registering steep losses by midday.

Imperial Tobacco and British American Tobacco were under the weather after the UK government launched a fresh review into plain packaging. This is a major U-turn for Prime Minister David Cameron after he said earlier this year that there wasn’t enough evidence to show whether the measure would discourage young smokers.

Rio Tinto gained after saying it will increase its mine production capacity at lower capital cost per tonne at its iron ore business in Western Australia. Other mining stocks were performing well as metals prices gained.Fresnillo, Vedanta, Glencore Xstrata, Antofagasta and BHP Billiton were higher while Anglo Americanwas benefitting from a ratings upgrade from Liberum Capital.

DIY retailer Kingfisher fell sharply after a weak performance in France held back third-quarter retail profits. Plumbing and heating products group Wolseley also disappointed with its first-quarter results as trading continues to be mixed across its key regions. Meanwhile, pubs group and brewer Marston’s slumped after saying that it would sell 202 pubs in an effort to reduce debt and pay for new “higher turnover pub-restaurants”.

Travel operator Thomas Cook surged after reporting a better-than-expected 49% jump in full-year operating profits as it lifted its near-term guidance for revenue and cost-cutting.

Kentz rose on speculation that the oil engineering firm is again on the bidding block. According to Acquisitions Daily, Austria’s M+W Group is considering a new bid for the British company after pulling out of an earlier possible bid in September.


FTSE 100 - RisersRio Tinto (RIO) 3,261.00p +3.89%
Fresnillo (FRES) 835.50p +2.83%
Old Mutual (OML) 199.40p +2.78%
Anglo American (AAL) 1,375.00p +2.73%
Hargreaves Lansdown (HL.) 1,222.00p +2.60%
Vedanta Resources (VED) 895.50p +2.34%
TUI Travel (TT.) 369.70p +1.90%
Capita (CPI) 995.00p +1.79%
BHP Billiton (BLT) 1,875.50p +1.71%
Glencore Xstrata (GLEN) 312.25p +1.66%

FTSE 100 - FallersPersimmon (PSN) 1,170.00p -6.10%
Kingfisher (KGF) 378.60p -4.39%
Travis Perkins (TPK) 1,783.00p -2.67%
easyJet (EZJ) 1,411.00p -2.29%
International Consolidated Airlines Group SA (CDI) (IAG) 368.30p -2.18%
Imperial Tobacco Group (IMT) 2,316.00p -1.91%
Compass Group (CPG) 922.00p -1.76%
Wolseley (WOS) 3,337.00p -1.71%
Resolution Ltd. (RSL) 346.20p -1.31%
Coca-Cola HBC AG (CDI) (CCH) 1,722.00p -1.20%

FTSE 250 - RisersThomas Cook Group (TCG) 175.70p +14.69%
Hochschild Mining (HOC) 145.50p +8.66%
Kazakhmys (KAZ) 240.00p +7.29%
RPS Group (RPS) 312.00p +6.41%
AL Noor Hospitals Group (ANH) 890.00p +5.45%
Britvic (BVIC) 670.00p +4.36%
Mitchells & Butlers (MAB) 417.50p +4.35%
Kenmare Resources (KMR) 19.86p +3.82%
African Barrick Gold (ABG) 173.30p +3.71%
Hellermanntyton Group (HTY) 300.00p +3.45%

FTSE 250 - FallersIP Group (IPO) 182.00p -7.57%
Marston's (MARS) 143.70p -7.35%
Taylor Wimpey (TW.) 107.40p -6.20%
Bellway (BWY) 1,446.00p -5.55%
Bovis Homes Group (BVS) 777.00p -5.53%
Redrow (RDW) 273.50p -5.17%
Barratt Developments (BDEV) 329.90p -4.85%
Crest Nicholson Holdings (CRST) 345.00p -4.06%
IG Group Holdings (IGG) 584.00p -3.95%
Galliford Try (GFRD) 1,079.00p -3.40%


Europe Market Report
To view the charts please add newsdesk@advfn.com to your contact list
FTSE 100EuronextDax perfCAC 40
Enable images to view FTSE 100 chartEnable images to view Euronext chartEnable images to view Dax perf chartEnable images to view CAC 40 chart
Europe close: Stocks rise as Eurozone confidence and German CPI gains
- Eurozone economic sentiment improves
- German inflation rises, unemployment gains
- Spain faces S&P rating upgrade
- ECB warns of stimulus tapering
- BoE to reduce scheme to boost mortgage lending

FTSE 100: 0.08%
DAX: 0.39%
CAC 40: 0.22%
FTSE MIB: 0.92%
IBEX 35: 0.52%
Stoxx 600: 0.35%

European stocks gained as Eurozone economic confidence and German inflation rose more than expected in November.

Economic data in Europe was in focus as the US market was closed for Thanksgiving today.

The Eurozone’s index of executive and consumer sentiment advanced to 98.5 from 97.7 in October, the European Commission in Brussels revealed. Economists had predicted a reading of 98.

“November’s rise in the European Commission’s Eurozone economic sentiment indicator is a comforting sign given the recent falls in other indicators, like the composite PMI, but we still expect the recovery to remain weak,” according to Capital Economics.

Meanwhile, Germany’s consumer prices increased to 1.6% in November from 1.2% in October, exceeding the 1.3% forecast.

In contrast, Germany’s unemployment rate was unchanged in November at 6.5%, as expected, and there were 10,000 more people out of work.

The consensus forecast was for the number of unemployed to remain unchanged. There are now 2.81m without jobs in Europe’s biggest economy.

Spain headed for rating upgrade, says economist

Spain’s sovereign credit rating may be raised from negative to stable by Standard & Poor’s, according to an economists from the Institute for Market Studies.

Miguel Angel Bernal, coordinator of the Research Department of the IEC, painted a positive outlook for the nation in his in Madrid Outlook 2014 report.

He said all the factors weighing on Spain including public debt, the state of the banking sector and the government deficit are beginning to ease.

“All these factors have improved and also the political situation in Spain is more stable than in Italy and companies have improved their competitiveness,” he said.

In Italy, the Senate last night voted to expel former Prime Minister and centre-right leader Silvio Berlusconi from parliament over his conviction for tax fraud.

Barclays Research said while it's difficult to anticipate the long-term impact of the vote, the bank expects Berlusconi to retaliate and for his Forza Italia to poll strongly in the coming weeks.

ECB warns of Fed tapering

The ECB has underlined the threats posed by the scaling back of US Federal Reserve quantitative easing in its latest financial stability report.

The central bank called on Eurozone policymakers to prepare for market shocks from a tapering of the Fed’s monthly $85bn bond buying programme.

The Fed has indicated that a tapering could come as soon as its next meeting in December. However, many economists expect a March 2014 start.

In the UK, the Bank of England has announced it will scale back a scheme to boost mortgage lending as the property market continues to improve.

The Funding for Lending Scheme, which launched in July 2012, has supported a turnaround of a stagnant property market as it helps increase lending to home-buyers and businesses.

The scheme will now focus solely on enabling greater lending to small firms that are having difficulties with borrowing as house price inflation looks set to accelerate further.

Tobacco stocks fall on UK government measure

Imperial Tobacco Group and British American Tobacco declined on news the UK government will introduce plain cigarette packs to make smoking less attractive to young people.

Rio Tinto gained after announcing plans to increase production at a lower cost at its Western Australia iron ore business.

Kingfisher slumped after the home-improvement retailer reported third quarter same-store sales that missed analysts estimates.

Thomas Cook advanced after the travel company posted a 49% increase in full-year profit.

Swedish copper and zinc producer Boliden AB gained after Morgan Stanley raised its rating on the stock to ‘overweight’ from ‘equalweight’.
Compass Group slid as Citigroup reduced its rating to ‘neutral’ from ‘buy’.

Other asset classes mixed

The euro rose 0.15% to $1.3600.

Brent crude futures fell $0.288 to $110.990 per barrel, according to ICE data.


Broker Tips
WPP, Rio Tinto, Thomas Cook
WPP's share price was performing well on Thursday after UBS increased its target for the stock from 1,300p to 1,500p and raised its growth forecasts on the back of an optimistic outlook for the advertising and media giant.

"We argue that corporates will increase their investment in the services WPP provides to drive their top-line growth and gain market share in the US and Europe, improve branding in Asia and that Media, Digital and Data will see cyclical and structural growth, combining to deliver strong execution of WPP's strategy."

Investec has maintained its 'buy' rating for mining group Rio Tinto after the company announced on Thursday that it plans to ramp up production at its iron ore business in Western Australia.

"While promoting a flood of new supply is not encouraging for the iron ore price longer-term, the reality is, in our view, that if RIO doesn’t do it, others will. RIO is in the best position to capture market share through its low-cost, world class assets. A focus on brownfield expansion also provides some flexibility, enabling the expansion to remain sensitive to market conditions."

Jefferies has kept a 'buy' recommendation and 200p target for travel operator Thomas Cook after the company's full-year results and near-term guidance came in much better than expected.

"Thomas Cook is delivering. Margins are improving, net debt has fallen and the balance sheet considerably strengthened, more cost savings are promised and, importantly, trading is robust. Yet the shares still trade at a discount to its major competitor, TUI Travel. We think this is becoming increasingly difficult to justify, especially given the likely higher growth rates at Thomas Cook Group."

European Markets at Close Report by Marketwatch November 28, 2013: European Stocks Extend Gains; Thomas Cook rallies

LONDON (MarketWatch) — European stock markets continued to rise on Thursday, with shares of Thomas Cook Group PLC rallying after a well-received earnings report, and investors digesting the latest German unemployment figures and euro-zone confidence figures.
The Stoxx Europe 600 index XX:SXXP +0.36%  climbed 0.4% to close at 325.19, building on a 0.6% gain from Wednesday. U.S. markets were closed for the Thanksgiving holiday.

First a smartphone, now a smart wig?
Sony is developing a 'SmartWig' wearable computing device that could serve numerous functions, including navigating roads and checking blood pressure. WSJ's Dai Wakabayashi joins digits to explain.


Shares of Thomas Cook Group PLCUK:TCG +14.69%  rallied 15% after the travel operator narrowed its full-year lossand laid out further cost cuts as a part of a plan to turn around the U.K. business. Underlying earnings before interest and taxes grew 49%.
Mike van Dulken, head of research at Accendo Markets, said in a note that the EBIT growth was “thanks to more aggressive cost-cutting than guided to/expected by the markets, equating to significant margin expansion, while recapitalization, refinancing and a return to positive cash flow have helped reduce the net debt burden by almost half.”
“All music to investors’ ears, especially with management claiming that, in terms of strategy implementation to return to sustainable profits, ‘we’ve only just begun’,” he added.
Rio Tinto UK:RIO +3.89%   RIO -0.02%   AU:RIO +2.38%  climbed 3.9%, after the heavyweight miner said it will increase its annual iron-ore output in Australia by around 25%.
Peugeot SA FR:UG +2.50%  added 2.5% after the French car maker’s departing Chief Executive Philippe Varin late Wednesday said he will give up his proposed company pension.

On a more downbeat note, shares of Kingfisher PLC UK:KGF -4.39%  slid 4.4% after the U.K. do-it-yourself retailer reported a 1.4% rise in third-quarter same-store sales, butadmitted that challenges still remain.
On the macroeconomic news front, data out of Germany showed the number of people without a job went up by 10,000 in November, which was more than forecast. The rise, however, wasn’t enough to change the country’s unemployment rate, which held steady at 6.9%, meeting analyst expectations.
Inflation in Europe’s largest economy was higher than expected in November, with annualized consumer prices up 1.3% from 1.2% in October.
For the euro zone, data showed confidence among industrial firms edged higher for a seventh straight month in November, but that consumers don’t share that optimism. Economic sentiment — which measures the mood across both consumers and businesses — rose to 98.5 in November, the highest level since August 2011 and up from 97.7 in October.
The main drivers of that rise came from the services and industry sectors, while retailers’ outlook was marginally brighter in November than a month earlier.
Germany’s DAX 30 index DX:DAX +0.39%  climbed 0.4% to 9,387.37, for another record close. France’s CAC 40 index FR:PX1 +0.22%  gained 0.2% to 4,302.42, and the U.K.’s FTSE 100 index UK:UKX +0.08%  rose 0.1% to 6,654.47.
The pound GBPUSD +0.14%  jumped against the U.S. dollar after the Bank of England said it plans to curb support for mortgage lending in Britain in efforts to prevent a housing bubble.
Home builders were on the decline in London after the news, with shares of Barratt Developments PLC UK:BDEV -4.85%  down 4.9%, Persimmon PLC UK:PSN -6.10%  6.1% lower, and Taylor Wimpey PLC UK:TW -6.20%  off 6.2%.
Shares of Compass Group PLC UK:CPG -1.76%  dropped 1.8% after Citigroup cut the catering firm to neutral from buy. 

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