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NEW YORK, Jan 2- U.S. stock index futures surged on Wednesday, setting up Wall Street to rally in the first trading session of the new year, after U.S. lawmakers passed a bill preventing huge tax hikes and spending cuts that threatened to jeopardize economic growth.
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Jan 2- Car rental company Avis Budget Group Inc said it will buy Zipcar Inc for about $500 million in cash to enter the fast-growing U.S. car-sharing market. The offer of $12.25 per share is at a premium of 49 percent to Zipcar's Monday close.
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SOFIA, Jan 2- Bulgaria has navigated the euro zone's debt crisis with little damage thanks to tight fiscal policy at the expense of slow growth that is keeping living standards among the European Union's lowest. Following are the main political risks for Bulgaria:.
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LONDON, Jan 2- Gold rose to a two-week high on Wednesday in line with stock markets and other commodities after the U.S. Congress finally passed a bill fending off huge tax hikes and spending cuts that threatened to jeopardise economic growth. Gold touched a two-week peak of $1,684.50 before losing some ground to stand up $8.16 at $1,682.7 per ounce at 1114 GMT.
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*China's economy showing signs of revival. LONDON/ SINGAPORE, Jan 2- Euro zone factories sank deeper into recession in December as new orders tumbled, business surveys showed on Wednesday, a sharp contrast to continuing signs of revival in China. "It's pretty grim really," said Jonathan Loynes at Capital Economics. "
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The U.S. House of Representatives approved a Senate bill on Tuesday night to avert $600 billion in automatic tax increases and spending cuts known as the "fiscal cliff." Here are the details.
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Jan 2- Car rental company Avis Budget Group Inc said it will buy U.S. car-sharing company Zipcar Inc for about $500 million in cash. The offer of $12.25 per share is at a premium of 49 percent to Zipcar's Monday close. Avis said it expects to complete the deal in the spring of 2013..
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*Data raises prospect UK economy will avoid Q4 contraction. LONDON, Jan 2- British factory activity jumped unexpectedly in December to grow at its fastest pace since September 2011, a survey showed on Wednesday, raising the chance that the economy eked out growth at the end of 2012..
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*China data points to steady growth revival. LONDON/ SINGAPORE, Jan 2- Copper rose to a three-week high on Wednesday and approached its biggest daily rise since mid-November, as U.S. Congress struck a deal to avert a fiscal disaster and upbeat data from top metals consumer China boosted the outlook for demand.
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MOSCOW, Jan 2- Russia's oil output, the world's largest, edged up almost 1 percent in 2012 to a new post-Soviet average yearly high of 10.37 million barrels per day, thanks to a ramp-up in production at Rosneft, Energy Ministry data showed on Wednesday.
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*IEA sees Russia's oil production declining by 100,000 bpd in 2013. MOSCOW, Jan 2- More crude from state-owned top producer Rosneft kept Russian oil output the highest in the world last year, ahead of Saudi Arabia, Energy Ministry data showed on Wednesday.
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*POSCO, China Steel, ArcelorMittal long-term iron ore pact. *ArcelorMittal battles sluggish steel demand. SEOUL/ BRUSSELS, Jan 2- ArcelorMittal, the world's biggest steelmaker, will sell a 15 percent stake in one of its Canadian iron ore operations, raising $1.1 billion to help pay off debt at a time of sluggish demand.
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PRAGUE, Jan 2- Manufacturing in emerging Europe's biggest economies shrank for the ninth straight month in December, with Poland's pace of deterioration stabilising but that of the Czechs plunging to a three-and-a-half year low.
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*U.S. Congress approves deal to avoid "fiscal cliff". LONDON, Jan 2- The yen fell to a 18- month low against the euro while the dollar struggled against growth-linked currencies on Wednesday after U.S. lawmakers passed a bill to avoid a "fiscal cliff" of tax rises and spending cuts.
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MOSCOW, Jan 2- Russia's decision not to ban grain exports after another poor harvest shows its leaders recognise that the embargo imposed after the failed 2010 crop was a mistake.
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CAIRO, Jan 2- Egyptian customs have stopped a Centamin shipment of gold held at Cairo airport from being exported because it did not obtain approval from the ministry of petroleum, a customs official told the state news agency MENA on Wednesday.
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The United States averted economic calamity on Tuesday when lawmakers approved a deal preventing huge tax hikes and spending cuts that would have pushed the world's largest economy off the "fiscal cliff" into recession.
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*Unions, employers say reform has not increased flexibility. *Fears of surge in firings have proved unfounded. ROME, Jan 2- Overhauling Italy's rigid labour rules was supposed to be Mario Monti's flagship reform.
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*HSI +2.9 pct, H-shares +4 pct, China shut until Friday. *Shares linked to China financial sector reform strong.
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PARIS, Jan 2- The Euro STOXX 50 Volatility Index, or VSTOXX, Europe's widely used measure of stock market risk aversion, dropped 14 percent on Wednesday after a budget deal by U.S. lawmakers buoyed investor sentiment.
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