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  • European shares inch higher; Sanofi drops again Wednesday, 29 Oct 2014 | 5:20 AM ET

    *Fugro tumbles 21 pct after saying it won't pay dividend. PARIS, Oct 29- European stocks inched higher early on Wednesday, tracking sharp gains on Wall Street ahead of a U.S. France's Schneider Electric rose 3.1 percent after reporting a 7 percent rise in third-quarter sales and saying Western Europe showed long-awaited but fragile signs of stabilisation.

  • Oct 29- Canadian diversified miner Teck Resources Ltd reported a 68.5 percent drop in quarterly earnings on Wednesday, hurt by lower prices for steelmaking coal. Net profit attributable to shareholders fell to C $84 million, or 14 Canadian cents per share, in the third quarter ended Sept. 30 from C $267 million, or 46 Canadian cents per share, a year earlier.

  • JERUSALEM, Oct 29- Bank Leumi, Israel's second-largest lender, said on Wednesday a settlement with U.S. regulators over possible tax evasion by the bank's American clients could be much higher than previously estimated. In a statement to the Tel Aviv Stock Exchange, Leumi said it was now also in contact with the New York Department of Financial Services, which...

  • Europe's main indices followed the overnight lead from Wall Street and Asia, although the third-quarter earnings reports out of Europe weren't quite as solid as those from the United States. Germany's DAX was up almost 1 percent in early trade, Britain's FTSE was up half a percent, and France's CAC 40 up a third of one percent. MSCI's broadest index of...

  • BERLIN, Oct 29- German exports to Russia fell by more than 26 percent on the year in August, the sharpest fall since the financial crisis in 2009, according to data released on Wednesday which underlines the impact of Russia sanctions on Europe's biggest economy. Exports to Russia in August were worth 2.3 billion euros, a 26.3 percent drop against the same month a...

  • LONDON, Oct 29- The dollar steadied on Wednesday as investors awaited guidance from the U.S. The Fed seems all but certain to announce the end of its $4 trillion bond-buying stimulus but is also likely to reassure markets that, with U.S. inflation weak and global growth slowing, any rate hike is still a long way off. "There is no doubt that the market goes into this with a...

  • MOSCOW, Oct 29- Russian supermarket operator X5 Retail Group NV raised its revenue forecast to 17-19 percent this year after posting a 49 percent increase in third-quarter net profit as it weathered a food import ban by sticking with low prices. Russia's second biggest food retailer had forecasted a 10-12 percent rise. The increase in forecasts and cut in capex...

  • UPDATE 3-Sanofi board ousts CEO Viehbacher Wednesday, 29 Oct 2014 | 4:49 AM ET

    *Sanofi board says not changing company's strategy. PARIS, Oct 29- Sanofi's board ousted its chief executive of six years at a special meeting on Wednesday, two days after it emerged he had fallen out with the French drugmaker's chairman, wiping more billions off its market value. The board said Sanofi would continue the strategy of international expansion it had...

  • LONDON, Oct 29- Chilean copper miner Antofagasta posted a 5 percent fall in third-quarter output from the previous three months, mainly due to production stoppages at its Los Pelambres and Centinela operations. The London- listed miner, which like others in the copper sector is battling sluggish prices, falling ore grades and rising costs, managed to reduce its...

  • The SEC is pursuing three overlapping insider-trading investigations involving CMS, the report said, adding that one of the cases involves the Federal Bureau of Investigation. In one probe, the SEC is examining whether any agency officials tipped off policy research firm Marwood Group LLC about CMS's review of Dendreon Corp's prostate cancer treatment...

  • JAKARTA, Oct 29- Born in poverty in a rebel stronghold, Indonesia's new chief economics minister once sold duck eggs on the street to pay his school fees. Sofyan Djalil later studied law in Indonesia and then went to Tufts University in the United States where he received two masters' degrees and a doctorate. "is reportedly close to Vice President Jusuf Kalla, and...

  • HONG KONG, Oct 29- A member of China's central bank's advisory body warned on Wednesday that Beijing will punish Hong Kong if pro-democracy protests that have paralysed parts of the Chinese-controlled financial centre for a month are allowed to continue. Joseph Yam, executive vice president of advisory body China Society for Finance and Banking and a former...

  • European shares rise ahead of Fed; Sanofi drops again Wednesday, 29 Oct 2014 | 4:12 AM ET

    PARIS, Oct 29- European shares rose early on Wednesday, tracking sharp gains on Wall Street ahead of the U.S. Shares in French pharma group Sanofi bucked the trend, dropping 5.3 percent and adding to the previous session's slump, after its board said on Wednesday it had decided to oust chief executive Chris Viehbacher. At 0807 GMT, the FTSEurofirst 300 index of top...

  • "Apart from rising expectations there will be a shift to a freely floating exchange rate already at Friday's rate meeting, a further worsening of sentiment could happen given disagreements over elections in the self-proclaimed DNR/LNR," Dmitry Polevoy, chief Russia economist for ING Bank in Moscow, said in a note. On Tuesday Ukraine condemned as "destructive...

  • Hong Kong shares gain on Fed hopes, casino stocks jump Wednesday, 29 Oct 2014 | 4:07 AM ET

    HONG KONG, Oct 29- Hong Kong shares rose, tracking strength in China markets, on anticipation the Federal Reserve later on Wednesday will reinforce signals that it could be a long time before U.S. interest rates rise. The Hang Seng Index unofficially closed up 1.3 percent at 23,819.87 points in its highest close since Sept. 24, while the China Enterprises Index of...

  • SHANGHAI, Oct 29- FAW-Volkswagen Automobile Ltd, a Chinese joint venture of Volkswagen AG, will recall 270,635 Audi cars in China due to an air bag software issue, China's quality watchdog said on Wednesday. The Audi recall also comes less than two weeks after Volkswagen said it would call back more than 580,000 cars in China to fix a possible suspension defect.

  • SYDNEY, Oct 29- London nickel jumped on Wednesday, adding to a 5 percent gain in the previous session, as worries about declining ore stocks in China set off a buying spree that traders said included purchases by consumers. Nickel was this year's stellar pick for investors after a ban on Indonesian ore exports threatened to starve China's stainless steel mills of...

  • UPDATE 2-Sanofi board meets, report says CEO to be ousted Wednesday, 29 Oct 2014 | 3:52 AM ET

    *Sanofi shares fell over 10 pct on Tuesday. PARIS, Oct 29- Sanofi's board was on the verge of ousting its CEO at a special board meeting on Wednesday, according to Le Monde newspaper, two days after it emerged he had fallen out with the French drugmaker's chairman. Several sources close to Sanofi's board told Reuters of an increasingly frosty relationship between...

  • HONG KONG, Oct 29- A member of China's central bank's advisory body warned on Wednesday that Beijing will punish Hong Kong if pro-democracy protests that have paralysed parts of the Chinese-controlled financial centre for a month are allowed to continue. Joseph Yam, executive vice president of advisory body China Society for Finance and Banking and a former...

  • LONDON, Oct 29- Britain's No.2 clothing retailer Next cut its profit guidance on Wednesday after unusually warm weather suppressed demand for its winter wear, sending an ominous sign to rivals ahead of the crucial Christmas season. Next, which trades from over 500 stores in Britain and Ireland, about 200 stores overseas, and through its Directory internet and...