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  • *Gold recovers from Tuesday's 1 pct drop. LONDON, Dec 3- Gold rose above $1,200 an ounce on Wednesday, boosted by rebounding oil prices and investor repositioning, though strength in the dollar and optimism about the U.S. economy kept gains in check. Gold gained about 10 percent in the first half of the year, helped by geopolitical tensions and disappointing U.S....

  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday, helped by double-digit earnings gains at its wealth management arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share, for the fourth-quarter ended Oct. 31, compared with C $2.1 billion, or C $1.40 a share, a year earlier. The bank said cash diluted...

  • RUSSIAN CENBANK "UNDOUBTEDLY" INTERVENING ON CURRENCY MARKET AGAIN TO DEFEND ROUBLE- TRADERS.

  • BERLIN, Dec 3- Lufthansa's board meets on Wednesday to approve expansion of its budget flights against the backdrop of deteriorating relations with pilots who are now planning their tenth strike this year. However, this year's 160 million euro hit to operating profit as a direct result of the dispute over proposed changes to an early retirement scheme is only...

  • BRUSSELS, Dec 3- U.S. and EU leaders will on Wednesday pledge to work together on sanctions and on strengthening the energy security of Europe and Ukraine, as they seek to present a united front to Russia, a draft document said. Secretary of State John Kerry and Energy Secretary Ernest Moniz are in Brussels for talks after a year in which the United States has led the...

  • JAKARTA, Dec 3- Indonesia may force state giant Pertamina to disband its Singapore trading unit or relocate it to bring more transparency to operations that supply the country with one-third of its daily oil needs, said a member of the government's energy reform team. But it was the first time a member of his government had raised the possibility of disbanding...

  • *RUSSIAN ROUBLE UP AROUND 2 PERCENT VERSUS DOLLAR Wednesday, 3 Dec 2014 | 4:54 AM ET
  • LONDON, Dec 3- Stocks rose and the euro hit its weakest in more than two years on Wednesday, a day before a crucial European Central Bank meeting that may pave the way for more monetary easing in the euro zone. Recent disappointing economic indicators from Europe have stoked investor concerns about the threat of deflation amid weak global growth, though this has...

  • *Markit says data point to 0.6 pct Q4 GDP growth. The closely watched Markit/ CIPS services purchasing managers' index rose to 58.6 in November after falling sharply to 56.2 in October, beating all forecasts in a Reuters poll, amid reports of firm demand and increased new business. Markit said that taken together, the surveys suggested Britain's economy will grow...

  • *Telenor, TeliaSonera rally after unit merger deal. PARIS, Dec 3- European stocks rose in early trading on Wednesday, with Nordic telecom operators Telenor and TeliaSonera rallying after agreeing to merge their Danish operations. Shares in Germany's sportswear firm Adidas AG and food retailer Metro featured among the top losers, hurt by worries over the two...

  • EU, US present Russia with united sanctions Wednesday, 3 Dec 2014 | 4:13 AM ET
    Military vehicles drive past St. Basil’s Cathedral during a rehearsal for the anniversary of a historical World War II parade in Moscow’s Red Square, Nov. 1, 2014.

    U.S. and EU leaders plan to work together on sanctions and strengthening Europe and Ukraine's energy security in an united front against Russia.

  • BRUSSELS, Dec 3- U.S. and EU leaders on Wednesday will pledge to work together on sanctions and on strengthening Europe and Ukraine's energy security as they seek to present a united front to Russia, according to a draft document seen by Reuters. Throughout the year, the United States has led the push for tougher sanctions, while many governments in Europe, afraid...

  • Option pricing shows yen's loss of safe-haven status Wednesday, 3 Dec 2014 | 4:07 AM ET

    TOKYO, Dec 3- Once known for its safe-haven characteristics of appreciating fast and depreciating slowly, the yen is being treated in a diametrically opposite fashion by an options market that is pricing in faster falls than gains in the Japanese currency. As the yen buckles under the Bank of Japan's massive money printing, just about every market player...

  • LONDON, Dec 3- The euro slid to a 27- month trough against a buoyant dollar on Wednesday, a day ahead of a crucial European Central Bank meeting that could pave the way for more easing measures in the euro zone. New York Fed President William Dudley reiterated on Tuesday that for now the dramatic drop in oil prices- down more than 30 percent since June- was a net benefit...

  • LONDON, Dec 3- Heavy discounting failed to stop euro zone business activity growing less than thought last month, a survey showed on Wednesday, suggesting the bloc's economy may contract again early next year. "The region is on course to see a mere 0.1 percent GDP growth in the final quarter of the year, with a strong likelihood of the near-stagnation turning to...

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. Brent for delivery in January rose 62 cents to $71.16 a barrel by 0839 GMT after falling $2 on Tuesday. U.S. crude for January delivery was at $67.54 a barrel, off the day's high of $67.97, but up 66 cents from the previous session when prices dropped more than $2.

  • RUSSIAN AGRICULTURE MINISTRY SAYS SYRIA WANTS INCREASED GRAIN EXPORTS FROM RUSSIA.

  • Airbus, Safran inaugurate space launcher venture Wednesday, 3 Dec 2014 | 3:45 AM ET

    PARIS, Dec 3- Aerospace groups Airbus and Safran formally inaugurated a joint venture to pool their space launcher activities on Wednesday, aiming to secure the future of the Ariane rocket and cut costs in the face of U.S. launch rival SpaceX. The announcement came after 20 European nations agreed at ministerial talks in Luxembourg to launch the Ariane 6 in 2020..

  • MOSCOW, Dec 3- The rouble plunged further on Wednesday, shrugging off data confirming that the Russian central bank had resumed forex market interventions on Monday and dragged lower by forecasts for recession next year. The rouble opened broadly flat on Wednesday, supported by a slight firming of the oil price, but resumed its slide after the central bank...

  • European shares inch up as Nordic telecoms rally Wednesday, 3 Dec 2014 | 3:10 AM ET

    PARIS, Dec 3- European stocks rose in early trading on Wednesday, with Nordic telecom operators Telenor and TeliaSonera rallying after agreeing to merge their Danish operations. Shares in Telenor rose 2.3 percent while TeliaSonera added 1.5 percent after unveiling their join-venture deal. At 0808 GMT, the FTSEurofirst 300 index of top European shares was up...