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Dhiren Sarin, Chief Technical Strategist, Asia Pacific at Barclays says Japan is only recently catching up to the easing monetary policies of the West so it is feasible to expect the Nikkei to reach highs of 18,000.
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*UK would need to negotiate new free trade rules with partners.
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*Cisco jumps after earnings, outlook. *Wal-Mart slips after earnings miss. Wal-Mart Stores Inc, the world's largest retailer and a barometer of consumer spending, fell 2.5 percent to $77.86 in premarket trade after posting a quarterly profit that missed Wall Street expectations, with sales down 1.4 percent at U.S. stores open at least a year.
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*Cisco jumps after earnings, outlook. NEW YORK, May 16- U.S. stock index futures were little changed on Thursday, indicating the S&P 500 may remain near its newest record high ahead of data on the housing and labor markets.
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FRANKFURT, May 16- Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re. In a study published on Thursday, Munich Re forecast growth in property-casualty insurance premiums of about 6 percent in Eastern Europe and Latin America in 2013-2014..
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LONDON, May 16- Weak data fanned expectations on Thursday of more central bank action in Europe, keeping yield-hungry investors focused on the region's stock markets and the dollar near a six-week high against the euro.
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*Rupert to take one year leave after September AGM. ZURICH, May 16- Richemont's chairman and founder will take a year off from September, leaving the world's No. 2 luxury group in the hands of recently-named joint chief executives at a time of faltering growth in the industry's key market of China.
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LONDON, May 16- The dollar was near a six-week high against the euro and a 4-1/ 2 year peak against the yen on Thursday on prospects for more monetary easing in the euro zone and scaled back asset buying in the United States.
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Luca Silipo, chief economist for Asia at Natixis, tells CNBC it's too early to see the effects of Abenomics on the economy.
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LONDON, May 16- The euro slipped against the dollar and German bond prices rose on Thursday on investor positioning for more monetary easing by the European Central Bank following a run of weak economic data. I think it will confirm in everyone's mind there is no inflation risk, "said Sarah Hewin, senior economist at Standard Chartered Bank.
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*Dollar recovers after soft U.S. manufacturing-driven fall. TOKYO, May 16- The dollar held close to a 4-1/ 2 year high against the yen on Thursday, with buying from Japanese importers helping it to recoup some of the losses suffered after disappointing U.S. industrial data, while the euro wobbled near a six-week low.
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TOKYO, May 16- Japan's Nikkei stock average fell on Thursday, reversing from a fresh 5-1/ 2- year high earlier in the session, after banks offered downbeat earnings guidance and investors took profits in the face of doubts prompted by the breakneck speed of recent rises.
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TOKYO, May 16- Japanese government bond prices rose on Thursday after a four-session rout, finding solace in higher U.S. Still, Thursday's calm belied the market turmoil that has followed the Bank of Japan's monetary policy overhaul last month.
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TOKYO, May 16- Japan's Nikkei stock average fell on Thursday, reversing from a fresh 5-1/ 2- year high earlier in the session, after banks offered poor earnings guidance and as investors pocketed recent gains amid caution over market momentum.
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*Q1 GDP +0.9 pct vs forecast +0.7 pct in Reuters poll. TOKYO, May 16- Japan's economy expanded at a rapid clip at the start of the year, the first hard evidence that Prime Minister Shinzo Abe's sweeping stimulus is beginning to rouse consumers and businesses into action even as risks loomed in the horizon.
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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Christian Schulz, Senior Economist at Berenberg Bank thinks recession in the Euro Zone could end in Q3 2013. He says there is more appetite for risk and yield in the markets.
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Mathias Helleu of 8 Securities says there is a mega trend of investors shifting from local to global equities.
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TOKYO, May 16- The dollar pulled away from a 4-1/ 2 year high against the yen on Thursday after disappointing U.S. industrial data caused Treasury prices to rise for the first time in a week, while the euro wobbled near a six-week low.
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TOKYO, May 16- Anyone expecting a broad overhaul of Japan's economy that would remove barriers to competition will likely be disappointed when Prime Minister Shinzo Abe launches his "Third Arrow" policy next month, but those with more modest expectations may be pleased.
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*Japan's Q1 growth beats forecasts. SYDNEY, May 16- Some stock markets across Asia edged up on Thursday after solid growth data from Japan improved sentiment although Tokyo's Nikkei lagged, while worries about a prolonged recession in the euro zone kept the common currency under pressure.