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Australasia

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  • SINGAPORE, Oct 2- The world's largest coral reef- under threat from Australia's surging coal and gas shipments, climate change and a destructive starfish- is declining faster than ever and coral cover could fall to just 5 percent in the next decade, a study shows.

  • Gold 1787.00 Silver 34.350 Gold 1770.69 Light Crude 92.48---------------------------------------------------------------- vernight market action with latest New York figures. NEW YORK- U.S. stocks pared gains, with the Nasdaq turning negative on Monday as Federal Reserve Chairman Ben Bernanke delivered a broad defense of the central bank's controversial bond-buying stimulus plan.

  • World markets gain but Spain downgrade looms Monday, 1 Oct 2012 | 10:46 AM ET

    LONDON-- Global markets rose Monday as investors cautiously welcomed the result of stress tests of Spain's banks and upbeat U.S. economic data and looked past the threat that Moody's might downgrade the country's debt rating to junk status.

  • Canadian gold miner Crocodile Gold's CFO resigns Monday, 1 Oct 2012 | 8:32 AM ET

    Oct 1- Canada's Crocodile Gold Corp said Chief Financial Officer Stephen Woodhead has resigned and will be replaced by Rob Dufour on an interim basis. Dufour has been with Crocodile Gold since July as director, finance.

  • *India may amend controversial tax rules. MUMBAI, Oct 1- Indian shares rose on Monday to their highest close since July 2011 as construction and other infrastructure-related stocks such as IVRCL rose on expectations the government would continue to promote projects in the sector.

  • *Chicago Fed warned of need for "kill switch" in 2010* SEC can't impose limits on HFT without consensus-official* Some traders are trying to build HFT-free trading zone* Retail investors looking for SEC to lead on HFT reform By Emily Flitter and Sarah N. Lynch. Only now is the SEC getting around to taking a closer look at some of those issues.

  • European markets rise but Spain downgrade looms Monday, 1 Oct 2012 | 6:43 AM ET

    LONDON-- European stocks edged higher on Monday as investors cautiously welcomed the result of stress tests of Spain's banks. But the threat that Moody's might downgrade the country's debt rating to junk status limited gains. Britain's FTSE 100 rose 1 percent to 5,800.63 while Spain's Ibex was up 0.6 percent at 7,752.10.

  • Europe stocks rise, Japan down on dour survey Monday, 1 Oct 2012 | 5:21 AM ET

    Athens needs the lenders to approve a proposed package of spending cuts and tax hikes to receive the next installment of emergency loans intended to keep Greece from defaulting on its massive debts. Britain's FTSE 100 rose 1 percent to 5,801.13. In Asia, markets in China, Hong Kong and South Korea were closed for public holidays.

  • The market never really opened, "said a trader in Singapore. The Asia iTraxx ex-Japan IG index 18 did widen slightly in the morning as the few stock markets that were open dropped in the wake of negative economic headlines from China and Japan.

  • UPDATE 1-ASOS names former Amazon man as chairman Monday, 1 Oct 2012 | 4:23 AM ET

    LONDON, Oct 1- British online fashion retailer ASOS said a former managing director of Amazon in the UK will be its new chairman as its seeks more growth overseas. ASOS said in May that Alli would step down after 12 years with the firm.

  • Xstrata board recommends Glencore merger Monday, 1 Oct 2012 | 3:42 AM ET

    LONDON-- The board of Anglo-Swiss mining company Xstrata PLC said Monday it is recommending shareholders accept merger terms with Swiss commodities trader Glencore PLC _ a deal that would create an industry behemoth with revenues of around $175 billion. Xstrata said in a statement it was supporting the offer of 3.05 Glencore shares for each Xstrata share.

  • *Arrium rejects bid, calling it undervalued and conditional. SYDNEY/ MELBOURNE, Oct 1- A consortium including Noble Group and POSCO urged Arrium.

  • Australia shares flat, Chinese PMI cuts gains Monday, 1 Oct 2012 | 3:02 AM ET

    SYDNEY, Oct 1- Australian shares ended flat on Monday, giving up early gains after data showing China's manufacturing sector remained in contraction in September fuelled investor worries about weak global growth. Mining and steel maker Arrium.

  • *Japan's business sentiment worsens- tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.

  • Australia shares finish flat as China PMI weighs Monday, 1 Oct 2012 | 2:19 AM ET

    SYDNEY, Oct 1- Australian shares finished flat on Monday, after data showing that while China's manufacturing sector had improved somewhat in September, it remained in contraction, heightening investors' worries about weak global economic growth.

  • *Japan's business sentiment worsens- Tankan. SINGAPORE, Oct 1- Brent crude fell below $112 per barrel on Monday, reflecting investor concerns a shaky global economy may hurt oil demand following fresh evidence of weakness in China and Japan as well as persistent worries about the debt-saddled euro zone.

  • LONDON, Sept 30- The darkest hour is just before dawn, the old saying goes.

  • Aussie skids to 3-wk lows on China data, bonds jump Monday, 1 Oct 2012 | 1:57 AM ET

    SYDNEY/ WELLINGTON, Oct 1- The Australian dollar eased 0.3 percent to three-week lows against the U.S. dollar on Monday after China's manufacturing PMI disappointed a market already worried about global growth and Europe's debt issues.

  • Taiwan stocks fall; glass, steel firms weigh Monday, 1 Oct 2012 | 1:41 AM ET

    TAIPEI, Oct 1- Taiwan stocks fell 0.5 percent in quiet trading on Monday, pressured by glass. The Taiwan dollar rose slightly to stand at T $29.330. ASIA-PACIFIC STOCK MARKET REPORTS: Japan..........

  • Asian stocks quiet amid holidays; Nikkei declines Monday, 1 Oct 2012 | 1:21 AM ET

    BANGKOK-- Japan's benchmark Nikkei 225 index fell Monday after a closely watched survey showed confidence in the economy weakening. Toyota Motor Corp. lost 2.3 percent and Nishimatsu Construction Co. slid 4.2 percent. Stan Shamu of IG Markets in Melbourne, Australia said that investors are still concerned about Spain's financial health.