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  • *OPEC to meet in Vienna on Nov. 27. SINGAPORE, Nov 24- Brent crude futures rose above $80.50 a barrel on Monday ahead of a meeting of the producer group OPEC at which an output cut will be discussed, while China's move to lower interest rates late last week also underpinned prices. Asian markets rallied on Monday with shares in Shanghai hitting three-year highs as the...

  • Telefonica in talks to sell O2 to BT - report Monday, 24 Nov 2014 | 2:22 AM ET

    MADRID, Nov 24- Spain's Telefonica could sell its UK mobile operator O2 to British Telecom in return for a 20 percent stake in BT as part of a "strategic alliance" to strengthen the pair, Spanish website El Confidencial reported on Monday. "According to various sources, the talks between Telefonica and British Telecom are advanced although no final deal has been...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2.65 percent, to 2,649.26 points, its highest close since Feb 2013. Among the most active stocks in Shanghai were China State Construction, up 5 percent to 4.00 yuan; CITIC Securities, up 6.23 percent to 16.54 yuan; and Poly Real Estate, up 10.03 percent to 6.47 yuan. In Shenzhen, China Vanke...

  • Nov 24- Canadian buyout firm Onex Corp said it would buy Swiss packaging group SIG Combibloc Group AG for up to 3.57 billion euros. The deal is expected to close in the first quarter of 2015, subject to regulatory approvals, Onex said. Reuters reported earlier this month that Onex, Canada's largest listed private equity firm, was leading the bidding for SIG...

  • Rouble opens sharply higher against dollar, euro Monday, 24 Nov 2014 | 2:07 AM ET

    MOSCOW, Nov 24- Russia's rouble opened sharply higher against both the dollar and the euro on Monday, extending last week's gains as global risk appetite was boosted by the prospect of further policy stimulus in China and Europe. At 0704 GMT, the rouble was around 1.1 percent stronger against the dollar at 45.23 and gained 1.1 percent to trade at 56.05 versus the...

  • NEW YORK, Nov 24- U.S. fund firms are taking extra measures to make sure they don't get stuck holding hard-to-sell bonds in the event that fixed income markets see a massive race to the exits when interest rates start to rise. Over the past few months a growing number of asset managers, including Neuberger Berman, Natixis Global Management and T. Rowe Price have been...

  • *OPEC credibility may be in question if no cut agreed. LONDON, Nov 24- Oil prices could plunge to $60 a barrel if OPEC does not agree a significant output cut when it meets in Vienna this week, market players say. "The market would question the credibility of OPEC and its influence on global oil markets if there was no cut," said Daniel Bathe, of Lupus alpha Commodity Invest...

  • -Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Nov 24- What was lacking at BHP Billiton's annual meeting was an admission that what has effectively happened with iron ore is that the company's shareholders are subsidizing the profits of Chinese steel mills. It was around this time that BHP, its Anglo-Australian rival Rio Tinto, newcomer Fortescue...

  • "Policymakers are taking a very comprehensive look in their toolboxes and this should keep investor demand for yield intact," said Tai Hui, chief markets strategist at JP Morgan Asset Management in Hong Kong. Gains in property and brokerage stocks led the benchmark indexes in Hong Kong and mainland China higher as investors anticipated a cut in mortgage rates.

  • HONG KONG, Nov 24- A court in Hong Kong on Monday adjourned the trial of a 29- year-old British banker charged with killing two women until July because of the length of time needed for prosecutors to prepare their case. Rurik Jutting, who had worked at Bank of America Corp in Hong Kong, was charged earlier this month after police found the bodies of the women in his...

  • PRECIOUS-Gold firm near 3-week high on China rate cut Sunday, 23 Nov 2014 | 11:09 PM ET

    *Gold retains gains from previous session. *Chinese premiums hold steady at $1- $2. SINGAPORE, Nov 24- Gold was trading close to a three-week high on Monday, holding its ground from the previous session on hopes that a surprise rate cut in China would boost demand for bullion in the top consumer, though a strong dollar capped gains.

  • SEOUL, Nov 24- U.S. automotive parts maker Visteon Corp has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp to a local private equity firm for $3.6 billion, Korean media reports said. The Korea Economic Daily said on Monday Visteon plans to sign a final deal to sell its 69.99 percent stake in Halla Visteon...

  • S.Korea to start yuan/won trading on Dec 1 - sources Sunday, 23 Nov 2014 | 9:18 PM ET

    SEOUL, Nov 24- South Korea plans to start direct yuan/won trading on Dec. 1, sources with direct knowledge of the matter told Reuters on Monday. Dec. 1 will be slightly ahead of an earlier plan, as South Korea strives to emerge as an international hub for growing yuan business. "The direct trading is scheduled to begin on Dec. 1 after successful preparation work...

  • SHANGHAI, Nov 24- The Shanghai Composite Index extended gains to a three-year high on Monday after the central bank unexpectedly cut interest rates on Friday to help support the economy. The index was up 1.3 percent to 2,518.0 points as of 0210 GMT, its highest level November 2011. CSI300 of the largest companies listed in Shanghai and Shenzhen was up 1.8 percent.

  • *OPEC to meet in Vienna on Nov. 27. SINGAPORE, Nov 24- Oil markets were steady in early Asian trading on Monday, with benchmark Brent crude prices remaining above $80 a barrel following a rally late on Friday over China's interest rate cut and ahead of a possible output reduction by producer group OPEC. Asian stock markets and the dollar rose on Monday morning, fuelled...

  • SYDNEY, Nov 24- London Metal Exchange metals eased on Monday, paring gains sparked by China's first rate cut in two years, as the prospect of sputtering growth in the world's top metals consumer cast doubts over the strength of its metals demand. *European Central Bank President Mario Draghi threw the door wide open on Friday for more drastic measures to prevent...

  • SYDNEY, Nov 24- Asian share markets were broadly higher on Monday as the prospect of further policy stimulus in China and Europe whetted risk appetites while sending the euro skidding. "China's rate cut adds to the determination of global policy makers to avoid deflation and support growth," said Shane Oliver, head of investment strategy at fund manager AMP...

  • China's yuan opens weaker after surprise rate cut Sunday, 23 Nov 2014 | 8:40 PM ET

    SHANGHAI, Nov 24- China's yuan opened at 6.1280 per dollar on Monday, softening slightly from Friday's close after the central bank caught markets off-guard by cutting benchmark lending rates by 40 basis points. The People's Bank of China set the midpoint rate weaker at 6.1420 per dollar prior to market open, compared to 6.1387 per dollar at the previous fix.

  • SINGAPORE, Nov 24- Gold traded firmly above $1,200 an ounce on Monday, retaining gains from the previous session on hopes that a surprise rate cut in China would boost demand for bullion in the top consumer. *Gold got a boost from short-covering after China cut interest rates unexpectedly on Friday, stepping up efforts to support the world's second-biggest...

  • SINGAPORE, Nov 24- U.S. crude futures steadied above $76 a barrel on Monday, clinging to gains from the previous session after a rally spurred by China's first interest rate cut in more than two years. *Friday's surprise cut in China's interest rates reflects a change of course by Beijing and the central bank, which had persisted with modest stimulus measures...