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  • HONG KONG, Oct 30- Hong Kong shares sank to their lowest in almost two weeks on Tuesday, with most local developers slipping further in the wake of fresh curbs on real estate purchases in the territory. Investors also took profits on Chinese banks, recent outperformers after strong third-quarter earnings from three of China's ``Big Four'' banks.

  • MILAN, Oct 29- Italy will probably have to accept higher borrowing costs on the new five-year bond it is offering later on Tuesday because growing fears of domestic political instability are making investors edgy.

  • European shares led higher by UBS, BP after updates Tuesday, 30 Oct 2012 | 8:13 AM ET

    PARIS, Oct 30- European stocks rose on Tuesday, led by Swiss bank UBS after it confirmed cost-cutting plans and UK energy firm BP after it raised its dividend. Trade was expected to remain thin, however, as the impact from a massive storm hitting the United States is set to keep Wall Street closed for a second day.

  • HONG KONG, Oct 30- Hong Kong shares sank to their lowest in almost two weeks on Tuesday, with local developers extending losses in the wake of fresh curbs on real estate purchases in the territory. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.8 percent.

  • *Storm forces two-thirds of U.S. East Coast refineries to shut. SINGAPORE, Oct 30- Brent crude hovered above $109 a barrel on Tuesday as investors watched for any impact on markets from huge storm Sandy, which crashed ashore on the U.S. East Coast, closing refineries, roads and airports.

  • UPDATE 1-BP hikes dividend as Q3 beats forecasts Tuesday, 30 Oct 2012 | 8:01 AM ET

    LONDON, Oct 30- International oil company BP Plc raised its dividend on Tuesday as it delivered a stronger than expected third quarter result and prepared for a court battle with U.S. authorities over its 2010 U.S.

  • SINGAPORE, Oct 30- Iron ore prices may drop nearly 10 percent over the next three years as top consumer China's economic growth shifts to a slower gear, threatening to squeeze profits at global miners Vale, Rio Tinto and BHP Billiton, a Reuters poll showed.

  • SINGAPORE, Oct 30- London copper rebounded on Tuesday from a near two-month low hit in the prior session, with lower prices spurring some buying, but global growth worries could cap gains in trade dampened by one of the biggest storms ever to hit the United States.

  • FRANKFURT/ MADRID, Oct 30- Shares in Telefonica's O2-branded German unit were trading above their initial public offering price in unofficial trading on Tuesday, before their listing, Europe's largest in more than a year.

  • Oct 30- U.S. buyout firm Cerberus Capital Management LP is working with a group of real estate firms on a possible bid for supermarket chain Supervalu Inc, the Wall Street Journal reported on Monday, citing people familiar with the matter.

  • LONDON, Oct 30- Unusually strong refining margins helped lift third quarter profits for international oil company BP Plc in the third quarter to $5.2 billion, up from $3.7 billion in the second quarter and well ahead of expectations.

  • Sandy, one of the biggest storms ever to hit the United States, has had no impact on trading in Asia, but the closure of markets in the United States could curb volume and increase volatility. Gold hit a low around $1,704 an ounce and was at $1,711.70 by 0713 GMT, up $2.46.

  • UPDATE 4-Apple software, retail chiefs out in overhaul Tuesday, 30 Oct 2012 | 7:24 AM ET

    SAN FRANCISCO, Oct 29- Apple Inc CEO Tim Cook on Monday pushed out the powerful head of the company's mobile software products group, sources said, in a major management shake-up that also claimed the recently hired chief of the retail stores division.

  • DUBAI, Oct 30- The Kuala Lumpur- based Islamic Financial Services Board plans to revise its capital adequacy guidelines for Islamic financial institutions, with a draft to be released in November for industry feedback.

  • UPDATE 2-UBS to slash 10,000 jobs in fixed income exit Tuesday, 30 Oct 2012 | 7:20 AM ET

    *Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. The move will focus the Zurich- based lender and wealth manager around its private bank and a smaller investment bank, ditching much of the trading business that saw it lose $50 billion in the financial crisis and one suspected rogue trader lose $2.3 billion last year.

  • Strong refining helps lift BP Q3; beats forecasts Tuesday, 30 Oct 2012 | 7:18 AM ET

    LONDON, Oct 30- Unusually strong refining margins helped lift third quarter profits for international oil company BP Plc in the third quarter to $5.2 billion, up from $3.7 billion a year ago and well ahead of expectations.

  • HONG KONG, Oct 30- Mainland China shares eked out their first gain in about a week on Tuesday, led by property firms after the second-largest player in the sector by market cap, Poly Real Estate, posted strong third-quarter earnings. The CSI300 Index of the top Shanghai and Shenzhen listings closed up 0.2 percent at 2,239.9, its first daily gain in six days.

  • *NYSE, Nasdaq OMX to test trading systems on Tuesday. Oct 30- NYSE Euronext said it plans to test a new contingency plan to help resume stalled U.S. equity trading, and added that its famed trading floor is not yet damaged by Sandy, one of the biggest storms to hit the United States.

  • TOKYO, Oct 30- The Bank of Japan boosted its monetary stimulus for the second month in a row on Tuesday in response to intense political pressure for action and mounting evidence that the world's third-largest economy was on the cusp of recession.