The dollar edged higher in thin trading after a two-week drop tied to data suggesting the U.S. economy might be stabilizing.» Read More
THE BOTTOM LINE: Capital One Financial's third-quarter net income jumped 47 percent versus the prior-year quarter, as the addition of ING Direct and HSBC's U.S. card business helped drive revenue gains across the lender's businesses. THE NUMBERS: Net income rose to $1.17 billion, or $2.01 per share, for the quarter ended Sept. 30.
LOS ANGELES-- Capital One Financial Corp.' s net income vaulted 47 percent in the third quarter, as the lender's acquisition of online bank ING Direct and HSBC's U.S. credit card business helped boost its loan revenue.
LONDON-- Barclays PLC has set aside another 700 million pounds to compensate customers who bought payment protection insurance which they didn't need. The unscheduled announcement came ahead of the bank's third-quarter earnings report due on Oct. 31.
BANGKOK-- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent.
By Adam Tempkin and Charles Williams. Moreover, with frequent issuers Hyundai, Honda, Ally, World Omni and Ford already having tapped the market with large deals in recent weeks, issuance is bound to taper off, potentially focusing more on the so-called off-the run and esoteric sectors, as well as smaller auto issuers.
*STMicroelectronics rallies on break-up talk. LONDON, Oct 12- European blue chip shares ended the week in negative territory with weakness in commodity stocks outpacing gains in healthcare and consumer staples.
October 12- Following are terms and conditions. of a bond priced on Friday.
LONDON, Oct 12- Britain's main financial regulator will decide what activities the country's retail banks are able to carry out under a new reform aimed at shielding taxpayers from having to bail out the industry again.
October 12- Following are terms and conditions. of a bond increased on Friday.
HONG KONG, Oct 12- China's state-owned insurer PICC Group is tentatively looking to start pre-marketing its proposed up to $3 billion Hong Kong initial public offering in mid-November, IFR reported on Friday citing sources. PICC is planning to raise as much as $6 billion through a dual listing in Hong Kong and Shanghai, sources previously told Reuters.
*HSBC becomes "overweight" Spanish equities. Alcoa posted a quarterly loss and cut its outlook for global aluminum demand, citing a slowdown in China. "We are not expecting any great surprises from the earnings season, but feel that people are getting too pessimistic on the outlook for corporate earnings," Robert Parkes, equity strategist at HSBC Securities, said.
*Investors consolidate; $1,760/ 50 seen as support level* U.S. producer prices rise in September* China, India demand falls By Clare Hutchison.
Morgan Stanley sees Barclays and HSBC as set for encouraging results from the third quarter, rating both "overweight", while it gives Lloyds an "underweight" rating based on a more cautious outlook. However, Morgan Stanley is more cautious heading into Lloyds' results.
MOSCOW, Oct 12- Gazprombank, Russia's No. 3 lender by assets, has mandated banks to hold meetings with investors as it eyes a possible subordinated perpetual Eurobond offering, IFR and a banking source said on Friday.
"Thailand runs on cruise control; growth is slowing, but not alarmingly so, and inflation is not a worry," HSBC strategists said in a note after visiting Bangkok, and retained their' overweight' on Thai equities.
*September new yuan loans total 623.2 billion yuan (f'cast 650 billion yuan. BEIJING, Oct 12- Chinese banks made 623.2 billion yuan of new local currency loans in September, data showed Friday, missing market expectations for 650 billion yuan and reinforcing calls for further policy easing to support the slowing economy.
October 11- Following are terms and conditions. of a bond priced on Thursday.
*HSBC cuts Peugeot target price to 4 euros; rating underweight. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.
Oct 12-:* HSBC cuts Antofagasta to underweight from neutral* HSBC cuts Anglo to neutral from overweight. *HSBC cuts Rio Tinto target price to 3220 p from 4320 p; rating. Reuters Station users, click. 1580.
*FTSE 100 down 0.5 percent on day, 1.2 pct on week. LONDON, Oct 12- Britain's FTSE 100 fell on Friday, dented by corporate earnings concerns after a second profit warning in a week from the engineering sector and by more weak data from mega metals consumer China.