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  • ANALYSIS-Africa set to switch on gas-to-power potential Thursday, 16 Oct 2014 | 6:05 AM ET

    *World Bank, Barack Obama behind "Power Africa" legacy. JOHANNESBURG, Oct 16- Africa's under used gas reserves, either exported or burnt away into the sky, are set to play a big role in stemming the continent's crippling electricity void, a shift that should boost economies and small-cap energy firms. Driven by huge recent finds in East Africa, sub-Saharan gas...

  • Europe's stock 'fear gauge' jumps to mid-2012 level Thursday, 16 Oct 2014 | 6:05 AM ET

    PARIS, Oct 16- The Euro STOXX 50 Volatility Index surged to 35.5 on Thursday, its highest level since mid-2012, signaling a sharp rise in risk aversion on the back of worries over the strength of the global economy. Europe's widely-used measure of investor risk aversion known as the VSTOXX- which is based on put and call options on Euro STOXX 50 stocks- was trading at...

  • LONDON, Oct 16- Gold steadied on Thursday to trade near its highest in more than a month, as the dollar and European shares weakened on worries over the strength of the global economy, sending investors in search for assets perceived as safer. U.S. gold futures also hit a one-month high on Wednesday and were trading down $3.60 an ounce at $1,241.30.

  • MSCI's emerging equity index slipped 0.9 percent after the previous day's 1 percent fall, sparked by a Wall Street rout and flight to safe-haven bonds after disappointing U.S. data reinforced worries about the global economy. Dubai's stock market fell 2.4 percent while Abu Dhabi's index slipped 2.1 percent and Qatar slid 1.4 percent. While central Europe is...

  • NAIROBI, Oct 16- Kenya, Uganda and Rwanda are in the final stages of deciding on a consultant to oversee building a pipeline to pump the region's new oil bonanza to the coast for export, a senior Kenyan energy ministry officials said on Thursday. In addition to the pipeline, the consultant would be required to supervise the construction of a fibre optic cable from...

  • UPDATE 2-New breast cancer drugs boost sales at Roche Thursday, 16 Oct 2014 | 5:20 AM ET

    *Q3 sales 11.78 bln Sfr vs 11.57 bln Sfr poll forecast. ZURICH, Oct 16- Swiss drugs firm Roche reported better than expected third-quarter sales on Thursday, boosted by a strong performance from its new breast cancer drugs. The Basel- based firm has launched a string of new expensive cancer drugs over the past two years, hoping that these improved versions of its...

  • DUBAI, Oct 16- Saudi Arabia's main stock index plunged 5 percent on Thursday amid panic selling by retail investors, dragging down other stock markets in the Gulf. In response, Dubai's index tumbled 4.7 percent and Qatar lost 2.3 percent. Also, a $6 billion initial public offer of shares by state-owned National Commercial Bank, Saudi Arabia's largest lender, is due...

  • *EBRD, Ukraine prepare "unprecedented" cooperation plan. KIEV, Oct 16- The International Monetary Fund's mission to Ukraine will determine at the end of October how much additional financial aid Kiev needs, Central Bank Governor Valeria Gontareva said on Thursday. She also said that the European Bank for Reconstruction and Development is preparing an "...

  • LONDON, Oct 16- Global markets showed some signs of stabilisation on Thursday after their most turbulent day in four years, but worries about world growth and the end of years of U.S. stimulus kept investors in a fraught mood. "In Europe we only have final September CPI, but in the US there are initial claims, industrial production, the Philly Fed, and the NAHB housing...

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. drugmaker AbbVie has pulled the plug on its plan to buy Dublin- based Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • LONDON, Oct 16- Luxury shoemaker Jimmy Choo is expected to price its London stock market listing at 140 pence a share, the bottom of the price range, two sources familiar with the matter said on Thursday. The firm had initially set a price range of 140- 180 pence a share before narrowing it to 140- 160 pence earlier this week. Weaker equities markets have recently hit...

  • VEVEY, Switzerland, Oct 16- Sales growth at Nestle, the world's biggest food group, slowed in the first nine months of the year as the company felt the impact of weakness in Asia and pricing pressures in Europe. Sales at the maker of KitKat chocolate bars and Nescafe coffee fell 3.1 percent to 66.2 billion Swiss francs in the nine months to September, as the strong...

  • *OPEC shows no sign of willingness to cut output. LONDON, Oct 16- Oil fell more than $1 a barrel on Thursday to a four-year low below $83 a barrel as growing concerns over the global economy stretched a four-month rout. "And despite us seeing a floor around $80, even this floor might come into danger if we don't have any signal from OPEC any time soon."

  • European shares slip again as selling pressure resumes Thursday, 16 Oct 2014 | 4:38 AM ET

    PARIS, Oct 16- European shares reversed an early rebound and slipped again on Thursday morning, resuming their month-long sell-off as worries over the strength of the global economy and fears of deflation in the euro zone kept investors on edge. The index sank 3.2 percent on Wednesday, suffering its biggest one-day slide since late 2011. The slump represented a...

  • LONDON, Oct 16- Luxury shoemaker Jimmy Choo is expected to price its London stock market listing at 140 pence a share, the bottom of the price range, two sources familiar with the matter said on Thursday. The price gives the company an equity value of 546 million pounds. The firm had initially set a price range of 140- 180 pence a share before narrowing it to 140- 160 pence...

  • KIEV, Oct 16- The International Monetary Fund's mission to Ukraine will determine at the end of October how much additional financial aid Kiev needs, central bank Governor Valeria Gontareva said on Thursday. "The IMF mission which will arrive in late October will determine the demand in real terms," Gontareva said at a news conference. "If the geopolitical risks...

  • UKRAINE CENBANK GOVERNOR GONTAREVA SAYS IMF MISSION TO KIEV AT MONTH-END TO ESTIMATE COUNTRY'S REAL NEEDS FOR FINANCIAL AID.

  • SHANGHAI, Oct 16- Hong Kong shares finished lower on Thursday on worries over slowing global growth prompted by a slew of weak U.S. economic data, but losses were limited by a more positive outlook on China. The Hang Seng Index closed down 1.0 percent at 22,900.94 points, with the China Enterprises Index of the leading offshore Chinese listings in Hong Kong also...

  • FOREX-Dollar creeps back as growth worries dominate Thursday, 16 Oct 2014 | 3:58 AM ET

    LONDON, Oct 16- The dollar recovered a third of a percent in value against other major currencies on Thursday after recording its steepest daily fall against the euro in well over a year in the previous session. A day of carnage on markets on Wednesday was marked by a return of the concerns over Greece which have haunted Europe for five years and some much poorer...

  • European shares reverse early rebound and drop again Thursday, 16 Oct 2014 | 3:55 AM ET

    PARIS, Oct 16- European shares reversed an early rebound and dropped again on Thursday morning, resuming their month-long sell-off as worries over the strength of the global economy and fears of deflation in the euro zone kept investors on edge. At 0750 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,248.65 points, following on...