Germany, the euro zone's largest economy, is on track for a recovery thanks to a pick-up in demand for its products from abroad, the Bundesbank said on Tuesday.» Read More
LONDON, Dec 18- Brent crude oil rose above $108 a barrel on Tuesday on signs of progress in U.S. talks to resolve a budget crisis that threatens to tip the world's top oil consumer into recession.
The Swiss National Bank is opening a branch in Singapore to allow for round-the-clock management of its foreign exchange reserves, which it needs to tap to defend the safe-haven franc from over-heating.
LONDON, Dec 18- European shares rose towards 2012 highs on Tuesday, tracking overnight gains on Wall Street on signs of progress over a compromise to halt austerity measures that could damage the world's top economy's prospects.
ZURICH, Dec 18- The Swiss National Bank is opening a branch in Singapore to allow for round-the-clock management of its foreign exchange reserves, which it needs to tap to defend the safe-haven franc from over-heating.
LONDON, Dec 18- The yen slipped on Tuesday, trading near a 20- month low against the dollar on expectations that a new Japanese government will drive the Bank of Japan toward more aggressive monetary easing. The dollar edged up 0.1 percent to 83.95 yen, having hit a high of 84.48 yen on Monday, the U.S. currency's strongest level against the yen since April 2011.
*MSCI index of world shares near 3- month high. That was a change of position for President Barack Obama who has been pushing for a $250,000 threshold although it is still far from Republican House of Representatives Speaker John Boehner's preference of $1 million.
LONDON, Dec 18- European shares rose early on Tuesday, tracking gains overnight on Wall Street fuelled by expectation that U.S. politicians were close to a deal to avoid steep tax hikes and spending cuts that threaten the global economy.
TOKYO, Dec 18- Japan's Nikkei average neared the 10,000- mark, hitting an 8-1/ 2- month high for a second day on Tuesday, lifted by expectations of aggressive monetary easing after the conservative Liberal Democratic Party swept back to power.
ZURICH, Dec 18- Actelion, Europe's biggest biotechnology company, said its drug for patients suffering from the skin disease psoriasis met its main goal in a mid-stage clinical trial. Patients receiving ponesimod continued to show improvement after the initial 16 weeks, Actelion added.
*MSCI Asia ex- Japan up 0.2 pct, Nikkei at 8-1/ 2- mth peak. The move, which the source stressed was not Obama's final offer, was welcomed by a spokesman for Republican House of Representatives Speaker John Boehner, potentially advancing negotiations towards a deal by the end-year deadline.
NEW YORK, Dec 18- Gold fell more than 1 percent on Tuesday, hitting a 1-1/ 2 month low as growing hopes that Washington was moving much closer to a deal to avert the "fiscal cliff" triggered a sell-off in safe-haven assets.
ISTANBUL, Dec 18- Budget carrier Pegasus Airlines turned its back on Boeing and placed its first order for Airbus jetliners on Tuesday in a $7.5 billion deal hailed as Turkey's largest single plane order. Pegasus currently operates aircraft built by Airbus's arch-rival Boeing.
NEW YORK, Dec 18- Rating agency Standard& Poor's on Tuesday raised Greece's sovereign credit rating to B-minus with a stable outlook from selective default, citing its European partners' efforts to keep the country part of the euro.
That prompted a rally in equities globally and the desire to secure investment returns pushed some back towards the euro zone's lower-rated peripheral bonds as the effects of last week's political shock in Italy subsided. Certainly one thing that's clear is that news in the U.S. is getting better and better, " DZ Bank strategist Christian Lenk said."
*Record sugar output for Brazil 2013 crop expected. *Brazil farmers withhold coffee, hoping for higher prices. NEW YORK/ LONDON, Dec 18- Raw sugar on ICE slipped Tuesday on surplus supplies following two sessions of gains that lifted the market from the lowest level in more than two years.
LONDON, Dec 18- The number of new medicines approved or pending approval is on the rise on both sides of the Atlantic, painting an encouraging picture for the global drugs industry as it emerges from a wave of patent expiries.
ZEEBRUGGE, Belgium, Dec 18- CMA CGM, the world's third-largest container group, plans to list shares on the Paris Stock Exchange to get easier access to financing as low freight rates pressure margins, its deputy chief executive said.
SINGAPORE/ TOKYO, Dec 18- The yen edged lower and neared a 20- month low versus the dollar on Tuesday, dogged by expectations that a new Japanese government would nudge the Bank of Japan toward more drastic monetary stimulus.
*Nikkei rises 1.1 pct, Topix up 1.2 pct in active trade. TOKYO, Dec 18- Japan's Nikkei average edged closer to the 10,000- mark, hitting an 8-1/ 2- month high for a second day on Tuesday, buoyed by a landslide election win for the conservative Liberal Democratic Party, although investors took profit on power companies.
SINGAPORE, Dec 18- London copper edged up on Monday, lifted by progress in talks to avert the looming U.S. " *The most-traded March copper contract on the Shanghai Futures Exchange slipped by 0.12 percent to 58,060 yuan a tonne.