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Dec 18, 2014

CMI Spot Prices as of Close of Trading in New York - September 18, 2014.

CMI Gold & Sliver

Spot Prices as of close of trading in New York

Thursday, December 18, 2014











Bloomberg View | Share The View December 18, 2014: Hillary's Cuba Legacy.

Bloomberg View
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Josh Rogin: "Although President Barack Obama is taking the credit forWednesday's historic deal to reverse decades of U.S. policy toward Cuba, when Hillary Clinton was secretary of state, she was the main architect of the new policy and pushed far harder for a deal than the Obama White House." Read more...

Leonid Bershidsky: "A mere two weeks after delivering a weak, stumbling state-of-the-nation address, Russian President Vladimir Putin is back on form as a consummate populist demagogue." Read more...

Barry Ritholtz: "Hindsight is 20-20. This has certainly been the case with that recent New York magazine story about a teenage trading genius who told a reporter that he had amassed a $72 million fortune in the stock market while attending high school." Read more...

Noah Smith: "Is the U.S. economy's current expansion past its sell-by date? ... To understand why it's so hard to predict business cycles, you need to realize that nobody really knows if a business cycle actually exists." Read more...

Clive Crook: "Is the recent dramatic drop in oil prices ultimately good news or bad news for the U.S. and Europe? And how should it affect monetary policy? There's a simple opening answer to both questions -- and then some complications that, under present circumstances, demand attention." Read more...

Cass R. Sunstein: "Over the past two months, the National Hockey League has experienced a baffling outbreak of mumps. ... It is a story that seems to have stepped from the mid-20th century." Read more...

The Editors: "The European Union in general, and Germany in particular, refuses to write off any part of Greece's sovereign debt. Yet, as most economists acknowledge, the country can never emerge from under its current debt pile -- now close to 180 percent of gross domestic product."Read more...

Jonathan Bernstein (Read the news roundup)
  • Ray La Raja, at the MassPoliticsProfs blog, explains why the campaign-finance provisions just passed by Congress are a pretty good thing. Read more...
  • "The Uniquely Awful Role of Sheldon Adelson in the Israeli Election." Gershom Gorenberg reports at the American Prospect: Read more...
  • Who was really isolated -- Cuba, the U.S. or both? Erik Voeten at the Monkey Cage makes an important point: Read more...
Ritholtz (Read the news roundup)
Matt Levine (Read the news roundup)
Katie Benner (Read the news roundup)
  • The U.S. is weighing whether to officially accuse North Korea of executing the Sony hack. Read more...
  • Not one of Snapchat's advisors, board members or executives could keep Evan Spiegel from releasing this letter? Read more...
  • Buzzfeed buys Hyper IQ so that it can build apps. Read more...
Zara Kessler on What's Popping

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European at Close Report on December 18, 2014: European Equities Post Biggest Three-Day Advance in Two Years | Bloomberg.

European Equities Post Biggest Three-Day Advance in Two Years

European shares climbed for a third day on growing confidence that central banks around the world will support the economy.
The Stoxx Europe 600 Index jumped 2.8 percent to 338.65 at 4:33 p.m. in London, with banks contributing the most to the advance. Novartis AG and Roche Holding AG led the Swiss Market Index (SMI) up 2.7 percent after the nation’s central bank introduced its first negative deposit rate since the 1970s. The announcement came after Chair Janet Yellen said the Federal Reserve will probably hold rates near zero at least through the first quarter and that they may not return to more normal levels until 2017.
“You could see interest rates progressively rise,” said Karim Bertoni, who helps manage $3.3 billion at de Pury Pictet Turrettini & Cie. in Geneva, referring to the Fed’s announcement yesterday. “But it will be a controlled increase that is monitored with attention by the Fed. Relative to bonds, equities are still more attractive. We’re not buying at the lowest level but it’s still a bargain.”
All 19 industry groups in the Stoxx 600 rose today, with banks rallying 2.9 percent as a group, ledby Banco Santander SA and ING Groep NV. Energy companies headed for their biggest three-day jump since October 2011 as Total SA rose 2.1 percent and Statoil ASA added 5.5 percent.

Selloff Rebound

The Stoxx 600 rebounded in the past two days after a selloff in energy companies and Greek stocks pushed it for its biggest six-day loss in three years. The gauge, which erased its annual gains on Dec. 15, is now up 3.2 percent for 2014.
Benchmark indexes of Portugal, Spain and France rallied more than 2.5 percent today, and the volume of Stoxx 600 shares changing hands was 17 percent greater than the 30-day average.
The Swiss benchmark stock index jumped the most since January 2013. Novartis increased 3.4 percent and Roche gained 3.5 percent. ABB Ltd. added 2.6 percent after saying it will propose former Royal Dutch Shell Plc Chief Executive Officer Peter Voser to become chairman after Hubertus von Gruenberg decided not to stand for re-election.
Among other companies moving on corporate news, Alcatel-Lucent SA rallied 8.5 percent after a Manager Magazin report that Nokia Oyj resumed merger talks with the French company. Aer Lingus Group Plc jumped 9.6 percent after the Financial Times reported that British Airways owner International Consolidated Airlines Group SA is considering a takeover bid. IAG said Aer Lingus’s board rejected its offer.
Swisscom AG fell 7.9 percent after French billionaire Xavier Niel’s private holding company agreed to buy Orange Switzerland.

Aveva Downgrade

Aveva Group Plc (AVV) lost 5.6 percent after JPMorgan Chase & Co. and Morgan Stanleylowered their rating on the U.K. software maker. JPMorgan said offshore companies may be more cautious with new investments after the decline in oil prices.
Greece’s ASE Index (ASE) fell as much as 3.4 percent before closing up 1.5 percent. Prime Minister Antonis Samaras failed to gather enough support for his nominee in a parliamentary vote for a new head of state. That means the nation is moving a step closer to early elections, opening the door for the ascent of an anti-austerity party.
The stocks gauge slumped the most since 1987 last week on concern a snap parliamentary election will reintroduce the turmoil that threatened the European currency union in 2012.
To contact the reporter on this story: Inyoung Hwang in London at
To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.netAlan Soughley

Reuters Health Report - December 18, 2014: EU's top court opens door to some stem cell patents.

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
EU's top court opens door to some stem cell patents
BRUSSELS/LONDON (Reuters) - Europe's top court has opened the door to certain stem cell patents in the European Union by ruling that an organism incapable of developing into a human being is not a human embryo and may be patented.
Obesity can be deemed a disability at work: EU court
BRUSSELS (Reuters) - Europe's top court ruled on Thursday that obese people can be considered as disabled, but stopped short of saying that obesity was a condition that needed specific protection under European anti-discrimination laws.
GlaxoSmithKline shingles vaccine hits goal in major study
LONDON (Reuters) - An experimental vaccine against shingles from GlaxoSmithKline met its goal in a late-stage study, in a boost for the company's vaccine unit, which is expanding part of its overall healthcare business.
China approves experimental Ebola vaccine for clinical trials
SHANGHAI (Reuters) - China has approved a domestically developed experimental Ebola vaccine for clinical trials, the official Xinhua news agency said on Thursday, citing the People's Liberation Army logistics unit.
AstraZeneca first-in-class ovarian cancer drug wins EU approval
LONDON (Reuters) - AstraZeneca's all-important cancer drug business received a fillip on Thursday as a new medicine against ovarian cancer was approved in Europe, making it the first of its kind to reach the market.
Autism risk linked to particulate air pollution
NEW YORK (Reuters) - Children whose mothers were exposed to high levels of fine particulate pollution in late pregnancy have up to twice the risk of developing autism as children of mothers breathing cleaner air, scientists at Harvard School of Public Health reportedon Thursday.
Ebola fears speed changes in U.S. hospital record systems
CHICAGO (Reuters) - The worst Ebola outbreak on record, and its spread beyond West Africa, has accelerated changes in how U.S. hospitals address the threat of infectious diseases, say health IT companies and industry experts.
Exclusive: Amgen's new leukemia drug to carry $178,000 price tag
(Reuters) - Amgen Inc on Wednesday said its new type of treatment for a deadly form of leukemia would cost about $178,000 when it becomes available on Thursday, which would make it one of the world's most expensive cancer drugs.
South Korea increases efforts to contain foot-and-mouth outbreak
SEOUL (Reuters) - South Korea is intensifying efforts to contain an outbreak of foot-and-mouth disease by inoculating all hogs in affected areas, the agriculture ministry said in a statement on Thursday.
U.S. doctor who recovered from Ebola will return to Liberia
(Reuters) - A doctor from Massachusetts who came down with Ebola while volunteering in Liberia will return to West Africa in January to resume medical work, the missionary group he works with said on Wednesday.