WASHINGTON— The U.S. Labor Department reports on the number of people who applied for unemployment benefits last week at 8:30 a.m. Eastern Thursday. STABLE LOWS: Economists forecast that weekly applications rose slightly to a seasonally adjusted 285,000, according to a survey by the data firm FactSet. For the prior three weeks, applications have been...» Read More
*NYSE, Nasdaq OMX testing trading systems on Tuesday. NYSE Euronext said the New York Stock Exchange would open, although it would switch to fully electronic trading if necessary. The southern tip of Manhattan where Wall Street and the NYSE are located lost power on Monday after being buffetted by Sandy, the worst storm to hit New York since at least 1938..
LONDON, Oct 30- Gains in oil major BP and several major bank stocks after results lifted European shares on Tuesday, with a key European equity index reaching its highest level in more than a week.
*Spain yields stable, seen potentially outperforming Italy. Investors' attention, previously fixed on Spain, had turned back to Italy after former Prime Minister Silvio Berlusconi threatened at the weekend to withdraw support for Mario Monti's technocrat government before elections in April.
HAVANA, Oct 30- Cuban sugar farmers were scrambling this week to drain plantations in the eastern provinces of Granma, Santiago de Cuba and Holguin where Hurricane Sandy flattened and flooded sugar plantations late last week.
Oct 30- Citigroup Inc said on Tuesday that a Manhattan building where investment bankers work sustained minor flooding from Hurricane Sandy and had no power. It also houses staff for Citigroup's transaction services unit, which caters to corporations and governments around the world.
BUDAPEST, Oct 30- Hungary's central bank cut interest rates again on Tuesday, prioritising growth, and hinted at more easing even though doubts about an aid deal threaten to limit room to relax policy.
*Philadelphia's 330,000- bpd refinery restarting. *Hess 70,000- bpd NJ refinery, Imperial plant suffer outages. NEW YORK, Oct 30- The second-largest refinery on the U.S. East Coast has suffered ``some'' flooding and a power outage from Hurricane Sandy, while two smaller plants also lost power, as glitches threaten to slow the recovery in fuel supplies.
LONDON, Oct 30- Copper rose on Tuesday, rebounding from a near 2- month low hit in the previous session, supported by a weak dollar and some cautious industrial buying, but concerns about sluggish demand from top consumer China capped further gains.
OTTAWA, Oct 30- Canada's export credit agency cut its 2012 forecast for growth in exports of goods and services on Tuesday in the wake of the European crisis, but it said exporters will see benefits next year from a recovery in the U.S. private sector.
--Abiomed Inc rescheduled second-quarter conference call to Nov. 1 at 8 am Eastern Time. --Accelrys Inc rescheduled third-quarter results to Oct. 31, after market. Its conference call will be held on Nov. 1, 9.30 am Eastern Time.
LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday as early reports suggested that exchange stocks in warehouses on the United States' East Coast were left unscathed by Sandy, one of the biggest storms ever to hit the region.
LONDON/ BRUSSELS, Oct 30- Commodities trader Glencore, hoping to speed its $33 billion takeover of Xstrata over its final hurdles, is expected to offer to sell part of the group's zinc assets, meeting a midnight deadline to comply with EU antitrust concerns.
*Philadelphia's 330,000- bpd refinery restarting. *Hess 70,000- bpd NJ refinery, Imperial plant suffer outages. NEW YORK, Oct 30- The second-largest refinery on the U.S. East Coast has suffered ``some'' flooding and a power outage because of Hurricane Sandy, while two smaller plants also lost power, as glitches threaten to slow the recovery in fuel supplies.
Oct 30- U.S. Steel Corp, the top steel producer in the United States by volume, warned that its current quarter would be hurt by the global slowdown, joining rivals Nucor Inc and AK Steel Holding Corp in forecasting weak results.
*Italy debt auctions also help euro. NEW YORK, Oct 30- The yen rose against the dollar on Monday after monetary easing steps from the Bank of Japan disappointed investors who had positioned for a more aggressive increase in asset purchases.
*Job losses mostly in Switzerland, United States, Britain. *Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. Zurich- based UBS will focus on wealth management and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis and is embroiled in a global LIBOR rate-fixing investigation.
LONDON, Oct 30- Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.
New York Governor Andrew Cuomo said at a separate press conference that all bus fares would be suspended on Tuesday. New York City experienced 23 fires during the storm, with a severe one in Breezy Point, Queens, that burned more than 80 houses.
*Saks, Macy's hope to open in New York City on Wednesday. Luxury department store Saks Inc said it would reopen on Tuesday three of the stores that it had to close because of Sandy, including stores in greater Washington and Philadelphia.