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Europe News Europe


  • Official: France not worried about EADS-BAE merger Wednesday, 3 Oct 2012 | 12:47 AM ET

    PARIS-- A French official says France's government is working out a common position with Germany on the proposed merger between Franco-German aerospace group EADS and Britain's BAE Systems. France and Germany have long fought for an equal say in EADS, which owns plane maker Airbus.

  • UPDATE 4-Spanish investors in Gecina file for bankruptcy Wednesday, 3 Oct 2012 | 12:46 AM ET

    *Natixis, Banco Popular and Bankia highest exposure. By Carlos Ruano and Tracy Rucinski. MADRID, Oct 3- Two Spanish investment firms that own 31 percent of French property company Gecina have filed one of the biggest bankruptcy actions in Spanish history after a bank refused to refinance a 1.6 billion euro loan.

  • Swiss stocks - Factors to watch on October 3 Wednesday, 3 Oct 2012 | 12:43 AM ET

    ZURICH, Oct 3- Swiss stocks were set to open slightly weaker on Wednesday as gloomy economic data from China and uncertainty over the Spanish debt crisis were somewhat offset by continuing underlying monetary support from central banks around the world.

  • Fiat Industrial and CNH merger could face delay - sources Wednesday, 3 Oct 2012 | 12:41 AM ET

    MILAN, Oct 3- Fiat Industrial, the truck and construction equipment maker, has hit a likely delay in plans for a full combination with U.S. unit CNH Global NV.

  • U.S. official says Iran currency to face more pressure Wednesday, 3 Oct 2012 | 12:40 AM ET

    ROME, Oct 3- Iran's tumbling rial currency will face more heavy pressure as the United States and its allies enforce sanctions over Tehran's nuclear programme, a senior U.S. official said on Wednesday. Cohen's comments, on a five-day visit to Europe, came as riot police clashed with demonstrators protesting in Tehran against the fall in the currency.

  • India's benchmark 10- year bond yield. India's benchmark 5- year OIS down 4 basis points at 6.99 percent, while the 1- year rate also fell 3 bps to 7.58 percent. India's one-day cash rate at 7.95/ 8.00 percent versus its previous close of 8.10/ 8.15 percent.

  • Third Point's Loeb bets big, and wins, on Greek debt Wednesday, 3 Oct 2012 | 12:39 AM ET

    NEW YORK, Oct 3- Hedge fund manager Daniel Loeb built a major position in distressed Greek government bonds in September, according to a monthly report he sent to his investors. Loeb's nearly $5 billion Third Point Offshore Fund gained 3.4 percent last month, helped by its position in Greek debt, said the Sept. 30 dated note which was reviewed by Reuters.

  • Cameroon orders two Boeing Dreamliners for $429 mln Wednesday, 3 Oct 2012 | 12:38 AM ET

    YAOUNDE, Oct 3- Cameroon's government has agreed to buy two Boeing 787 Dreamliners for 218 billion CFA francs for its new national carrier Camair-Co. Camair, established to replace now defunct Cameroon Air, began providing international routes to Paris and the Chadian capital N'Djamena as well as a number of domestic destinations last year.

  • European shares edge down on Spain, growth concerns Wednesday, 3 Oct 2012 | 12:35 AM ET

    *Gecina falls as 2 owners file for bankruptcy. LONDON, Oct 3- European shares edged lower on Wednesday on concerns about Spain, the focal point of the regional debt crisis, and slowing global growth, with indexes keeping to recent tight trading ranges. As the market waits for Spain to request a bailout, investors have remained reluctant to commit further to equities.

  • BRIEF-Polski Koncern signs crude oil deal with Glencore Wednesday, 3 Oct 2012 | 12:33 AM ET

    LONDON, Oct 3- Polski Koncern Naftowy Orlen SA:. *Signed spot agreement with Glencore Energy UK ltd, London, UK. *Net value of the agreement amounts to approximately USD 80 million.

  • STOCKHOLM, Oct 3- Nordic telecoms firm TeliaSonera said on Wednesday it had appointed lawyers to investigate allegations of wrongdoing related to its purchase of a 3 G licence in Uzbekistan in 2007..

  • MILAN, Oct 3- Italy's No.3 lender Banca Monte dei Paschi di Siena confirmed it had failed to meet a European Banking Authority request to plug a capital shortfall by the end of June. In a statement on Wednesday, Monte Paschi said it had a capital shortfall of 1.728 billion euros at the end of June, a situation that had prompted it to ask for state support.

  • STOCKHOLM, Oct 3- The owners of Nordic optician chain Synsam are launching a sale of the company which could fetch around 500 million euros, sources familiar with the matter told Reuters. Another adviser said anti-trust issues meant that Britain's Specsavers and Synoptik, controlled by Dutch investment firm HAL Trust, were unlikely to be allowed to buy Synsam.

  • Britain's FTSE edges higher as defensive stocks climb Wednesday, 3 Oct 2012 | 12:29 AM ET

    *FTSE 100 closes up 0.3 percent at 5,825.81 points. *Traders say technical levels favouring FTSE at present. *Intl Airlines Group and ARM top FTSE 100 leaderboard By Sudip Kar-Gupta.

  • Swatch will keep production in Switzerland-paper Wednesday, 3 Oct 2012 | 12:28 AM ET

    ZURICH, Oct 3- Swatch Group SA, the world's largest watchmaker, intends to keep production in Switzerland despite the strength of the franc, its chief executive was quoted as saying. "We want to keep the companies, the jobs and the production in Switzerland," Swatch Group CEO Nick Hayek was quoted saying in a preview of Thursday's edition of Handelszeitung. "

  • LONDON, Oct 3- The European Commission's ambition for a single energy market conflicts with aims in Britain and other countries to boost their own national energy security by paying investors to ensure gas-fired power capacity is available several years ahead.

  • Luxfer shares rise on NYSE after IPO raises $80M Wednesday, 3 Oct 2012 | 12:28 AM ET

    NEW YORK-- Luxfer Holdings PLC's U.S. shares jumped in their first hours of trading Wednesday on the New York Stock Exchange. The initial public stock offering of the chemicals and metals maker, which is based in the U.K., priced 8 million shares at $10 each. The company had predicted that shares would price higher, from $12 to $14 each.

  • PARIS, Oct 3- Societe Generale said on Wednesday it had started exclusive talks to sell its loss-making Greek unit Geniki Bank to Greek lender Piraeus Bank as it seeks to cut its exposure to the debt-stricken country. Societe Generale is the latest French lender to pull out of Greece after expanding into the debt-laden country in the early 2000 s.

  • Canada says resisting pressure on IMF fund for Europe Wednesday, 3 Oct 2012 | 12:25 AM ET

    OTTAWA, Oct 3- Canada remains under pressure from other countries to contribute to an International Monetary Fund plan to help Europe but has not changed its view that Europe has enough of its own resources, Finance Minister Jim Flaherty said on Wednesday. "Europe has enough resources to deal with the issue...

  • ATHENS, Oct 3- The European Commission, European Central Bank and International Monetary Fund troika expect Greece's economy to contract by 5 percent next year, more than the government's 3.8 percent forecast, a senior finance ministry official said on Wednesday.