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  • *Global stock gains capped by U.S. data, China outlook. *Lack of Iran nuclear deal keeps Brent oil near $61 a bbl. NEW YORK, March 5- The euro fell to an 11 1/ 2- year low against the dollar as U.S. and euro zone bond prices rose on Thursday, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday.

  • Pharmacyclics, a pharmaceutical company that makes cancer drug Imbruvica, surged after AbbVie said it would acquire the company for $21 billion. DRUG BOOST: Pharmacyclics rose $24.37, or 10.6 percent, to $254.76 after AbbVie said it would acquire the company for about $21 billion. AbbVie's stock fell $1.82, or 3 percent, to $58.35.

  • *Libya has declared force majeure on 11 oilfields. LONDON, March 5- Brent crude futures pared early gains on Thursday to hover just under $61 as the euro slipped to an 11- year low against the dollar, offsetting concerns about tensions in Iraq and Libya. Brent and WTI rose earlier on Thursday due to concerns about oil supplies from Libya and Iraq.

  • LONDON, March 5- The Bank of England marked the sixth anniversary of the introduction of its lowest ever interest rate by standing pat once again on Thursday, but an improving economy suggests rates are likely to rise at some point over the next 12 months. While no economist polled by Reuters expects the Monetary Policy Committee to raise rates before a May 7...

  • *Lack of deal in Iran nuclear talks support crude oil. LONDON, March 5- The euro hit an 11 1/ 2- year low against the dollar and European stocks nudged higher on Thursday, as the European Central Bank prepared to lay out the details of its impending 1 trillion-euro stimulus plan. The common currency fell as low as $1.1026, its lowest since September 2003, and the region's...

  • Volatility draws billions into oil funds Thursday, 5 Mar 2015 | 7:34 AM ET
    A worker at Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian Basin outside Midland, Texas, on Dec. 12, 2014.

    Billions of dollars are pouring into oil exchange-traded funds, as investors risk big losses and focus on the chance of huge rewards.

  • UPDATE 1-Volatility draws billions into oil funds Thursday, 5 Mar 2015 | 7:22 AM ET

    *USO says 80-90 pct of shares held by ETF hedge funds. LONDON/ NEW YORK, March 5- Billions of dollars are pouring into oil exchange-traded funds as investors, many of them small savers more familiar with stocks than commodities, risk big losses and focus on the chance of huge rewards. "They can be quite dodgy," said a British woman who buys and sells oil derivatives from a...

  • Bank of England votes to keep interest rates steady Thursday, 5 Mar 2015 | 7:01 AM ET

    LONDON— The Bank of England has opted to keep interest rates steady at 0.5 percent even as the economic recovery brings the prospect of rate hikes closer. Governor Mark Carney has suggested rates could fall if inflation remains low, but said that's unlikely. Samuel Tombs, economist at Capital Economics, says the bank is likely to remain in "wait and see" mode until...

  • European Central Bank: Recovery is strengthening Thursday, 5 Mar 2015 | 6:32 AM ET

    NICOSIA, Cyprus— The struggling eurozone economy is picking up momentum ahead of the launch next week of a 1.1 trillion euro stimulus program, European Central Bank head Mario Draghi said Thursday. He said the ECB had set Monday as the start date for its 1.1 trillion euro bond-buying program that aims to stimulate the recovery and raise the rate of inflation from...

  • LONDON— The World Health Organization will start large-scale testing of an experimental Ebola vaccine in Guinea on Saturday to see how effective it might be in preventing future outbreaks of the deadly virus. The West African nations of Sierra Leone, Liberia and Guinea have been hardest hit in the yearlong Ebola outbreak, which is estimated to have left more...

  • Volatility draws billions into oil funds Thursday, 5 Mar 2015 | 5:17 AM ET

    LONDON/ NEW YORK, March 5- Billions of dollars are pouring into oil exchange-traded funds as investors, many of them small savers more familiar with stocks than commodities, risk big losses and focus on the chance of huge rewards. Five of the biggest oil ETFs have seen their assets more than quadruple since July to $5.4 billion as the oil market has had a...

  • *Lack of deal in Iran nuclear talks support crude oil. LONDON, March 5- The euro hit an 11- year low against the dollar and the region's stocks nudged higher on Thursday, as the European Central Bank prepared to provide the finer details of its soon-to-be-launched 1 trillion euro stimulus plan. The common currency fell to as low as $1.1026, its lowest level since...

  • Sterling steady ahead of central bank meetings Thursday, 5 Mar 2015 | 4:34 AM ET

    The Bank of England publishes its March policy decisions at 1200 GMT and is expected to add nothing immediately to the debate over the timing of a interest rate rise, now seen likely early next year. "The euro-dollar fall is dragging the pound down against the dollar and the euro can't fall too fast from here," said Kit Juckes, a strategist with Societe Generale in...

  • March 5- AbbVie Inc is to buy Pharmacyclics Inc for about $21 billion, giving it access to what is expected to be one of the world's top-selling cancer drugs and expanding its reach in the profitable oncology field. AbbVie will pay $261.25 per share in cash and stock, a 13 percent premium to Pharmacyclics stock's closing price on Wednesday. Deutsche Bank analyst...

  • LONDON— European stock markets rose strongly Thursday ahead of an update from European Central Bank President Mario Draghi in the wake of the bank's decision to keep interest rates unchanged at record lows. KEEPING SCORE: In Europe, France's CAC-40 rose 0.8 percent to 4,958 while Germany's DAX climbed 0.7 percent to 11,471. Britain's FTSE 100 rose 0.4 percent...

  • AbbVie will spend about $21 billion to buy leukemia drugmaker Pharmacyclics in its first major deal attempt since walking away from a $55 billion takeover of Shire last fall. Shares of Sunnyvale, California- based Pharmacyclics Inc. jumped in premarket trading Thursday while AbbVie Inc. fell. AbbVie will offer a mix of cash and stock to Pharmacyclics...

  • DIARY-Top Economic Events to March 18 Wednesday, 4 Mar 2015 | 7:01 PM ET

    TEXAS- Federal Reserve Bank of Dallas President Richard Fisher speaks on "Reflections on 10 Years at the Fed& Farewell, El Paso" before a community forum hosted by the Federal Reserve Bank of Dallas El Paso Branch- 0000 GMT. SYDNEY- Reserve Bank of Australia Deputy Governor Philip Lowe speaks at the Goldman Sachs 10th Annual Global Macroeconomics Conference- 0130...

  • NEW YORK— Upscale hotel chain Mandarin Oriental says it is investigating a potential credit card breach at its hotels. Mandarin Oriental said it is coordinating with credit card agencies and forensic specialists. Mandarin Oriental operates hotels across the world including Paris, Shanghai, Hong Kong, London, New York, Miami, San Francisco, Prague, Boston, Las...

  • Report: J&J close to deal to buy partner Pharmacyclics Wednesday, 4 Mar 2015 | 6:24 PM ET

    Health care giant Johnson& Johnson reportedly is close to buying biopharmaceutical company Pharmacyclics, its longtime partner in developing blood cancer treatment Imbruvica. London's Financial Times reports "people familiar with the matter" say Johnson& Johnson's anticipated offer would value Pharmacyclics of Sunnyvale, California, above its current...

  • UK fraud office probes central bank auctions Wednesday, 4 Mar 2015 | 4:46 PM ET

    LONDON— Britain's Serious Fraud Office says it is investigating Bank of England auctions in 2007 and 2008 that were designed to inject cash into the banking system during the financial crisis. The announcement late Wednesday came as Britain's central bank confirmed that it commissioned its own inquiry into the auctions last year. Britain's Financial Times...