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By Sara Sjolin , MarketWatch  LONDON (MarketWatch) — European stock markets moved higher on Wednesday, as China’s new leaders implied they would continue their supportive policy stance, although concerns over stalled U.S. budget negotiations capped gains.  The Stoxx Europe 600 index XX:SXXP +0.24% rose 0.2% to close at 276.91, gaining ground for a third straight day.  Can China's top leaders be humble? China's new party chief, Xi Jinping, seeking to improve the top leaders' public image, introduced a list of do's and don'ts for them. The WSJ's William Krazer discusses the likelihood that the leaders will pay attention.  “We have recently had good news out of China, starting this week with good manufacturing data. But equally you also have to say that there remains major concerns in the market, highlighte

South Korea buys more gold amid speculation on currency market intervention Submitted by cpowell on 05:55AM ET Wednesday, December 5, 2012. Section: Daily Dispatches By Christine Kim Reuters Wednesday, December 5, 2012 http://www.reuters.com/article/2012/12/05/korea-economy-reserves-idUSL4N... SEOUL, South Korea -- South Korea's central bank said on Wednesday it bought 14 tonnes of gold in November using its foreign reserves in order to spread its portfolio risks, while releasing data showing total reserves rose after talk of market intervention. The Bank of Korea bought the gold for $780 million, the fourth purchase in about 1 1/2 years, lifting the proportion of gold in its total foreign reserves to 1.2 percent from the previous 0.9 percent, it said in a statement. "Gold is a physical, safe asset and allows" the country "to deal with changes in the international financial environment more effectively," it said in a stateme

December 05, 2012 | DAILY NEWS SUMMARY CBS NEWS TOP STORIES Behind-the-scenes of "fiscal cliff" talks In public negotiations on the "fiscal cliff," both sides of the aisle are digging their feet into the ground; behind closed doors it's a different story Read full story SoCal seeing jump in housing market Southern California was ground zero for the housing meltdown; But buyer confidence is dramatically improving in the Los Angeles area Read full story Home prices rise in October by most in 6 years A measure of U.S. home prices rose 6.3 percent in October compared with a year ago; Jump adds to signs of a housing market comeback Read full story Patriot Act can "obtain" data in EU, research says Dutch researchers believe EU data stored on the Web can be obtained by U.S. authorities, despite EU data protection laws Read full story Sandy residents in New York still left

$1,702.96 $33.08 TOP STORIES | Wednesday , 05 Dec 2012                                                      Ex-growth gold sector needs some deep reflection - Bristow According to Randgold Resources CEO, Mark Bristow, the gold sector needs to return to a focus on creating value.    Wednesday , 05 Dec 2012 Gold rises above $1,700/oz as stocks rise The gold price rose above $1,700 an ounce on Wednesday as stock markets firmed and a dip in prices to one-month lows tempted some buyers back to the market.    Wednesday , 05 Dec 2012 Gold miners need a reality check – BlackRock BlackRock's Evy Hambro and Catherine Raw say that gold miners need a new way of reporting and better cost discipline.    Wednesday , 05 Dec 2012 Operations the focus at Gold One now, not M&A – Incoming CEO “Obviously with Neal leaving it is setting us back, but the executive team is a one and we’ll move the

        UK economic forecasts revised down The UK economy is now forecast to grow by 1.2% next year and 2% in 2014, the chancellor says in Autumn Statement More details...

Wednesday, December 5, 2012 TODAY'S TOP HEADLINES   BY WILLIAM ALDEN HSBC'S $9.4 BILLION DEAL IN CHINA HSBC Holdings is offloading a major asset in China for $9.4 billion . The European bank, which has been trying to streamline its business, said Wednesday it would sell its entire 15.6 percent stake in Ping An Insurance , the big insurer based in Shenzhen, to Charoen Pokphand Group, which is controlled by the Thai billionaire Dhanin Chearavanont. The deal is to be financed partly by the state lender China Development Bank. HSBC expects to book an after-tax gain of $2.6 billion on completion of the deal. It is HSBC's latest attempt to shed noncore assets. The bank has sold more than 40 noncore assets since the beginning of 2011 and booked about $4 billion in gains on those sales this year alone, DealBook reports. The latest transaction "represents further progress in the execution of the group's strategy," Stuart T. Gulliver, the c