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Europe News London

  • *OPEC compliance 88 percent based on industry average. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. NEW YORK, Feb 24- Oil prices slid nearly 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

  • As of 11:58 a.m. CST, Chicago Board of Trade March wheat was down 7 cents at $4.31 per bushel after dipping to $4.30, its lowest since Feb. 9. March soybeans were up 3/ 4 cent at $10.12-1/ 4 a bushel, rebounding after falling to $10.09-1/ 4, its lowest since Jan. 12. As you violate some technical signals, you've got the potential for some further liquidation, "said Terry Linn,...

  • LONDON, Feb 24- Zambia expects to agree a deal with the International Monetary Fund in the first half of this year, Finance Minister Felix Mutati said on Friday. Last March, Zambia began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable, though formal talks have not yet been launched. He said it was too early...

  • LONDON, Feb 24- Zambia expects to agree a deal with the International Monetary Fund in the first half of this year, Finance Minister Felix Mutati said on Friday. Last March, Zambia began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable, though formal talks have not yet been launched. He said it was too early...

  • *OPEC compliance 88 percent based on industry average. NEW YORK, Feb 24- Oil prices fell on Friday despite OPEC pledges to boost compliance with output curbs, on concerns over rising U.S. supplies and as traders begin to pull out crude barrels from pricey storage as physical markets show signs of tightening. "The oil market remains focused on the global rebalancing...

  • *Six U.K. P&I clubs account for half market share. *Two P&I clubs already regulated in Luxembourg. LONDON, Feb 24- U.K.- regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial market, industry sources involved say.

  • LONDON, Feb 24- Sterling slid from a 2- week high to the dollar on Friday but was still on track for its strongest weekly showing in a month as concerns about politics in the United States and Europe took investors' focus off immediate Brexit worries. Besides the Brexit bill making its way through Britain's upper house of parliament, a week largely lacking in major...

  • BERLIN— The German weekly Der Spiegel reports that the country's spy agency had at least 50 numbers and email addresses of journalists among its surveillance targets. Spiegel reported Friday that a list seen by the magazine contained over a dozen numbers belonging to the BBC in Afghanistan and London. It says a New York Times phone number in Afghanistan and...

  • *Dollar hits more than 2- wk low vs yen of 112.06 yen. NEW YORK, Feb 24- The U.S. dollar slipped to a more than two-week low against the yen and a one-week trough on a closely followed index on Friday as investors doubted the likelihood of swift tax reform and a quick boost in spending from U.S. "There is only so much that markets can do on hope and speculation, and I think were...

  • NEW YORK, Feb 24- Key global stock markets fell on Friday as investors lowered bets that policies of U.S. Oil futures fell, pressuring energy stocks after data showed U.S. crude inventories rose for a seventh week, signaling oversupply despite OPEC's efforts to rein in output. "The market will come to realize that a lot of these pro-growth policies might get pushed...

  • Graeme Pitkethly said Kraft's offer had highlighted the importance of achieving a balance between long-term sustainable value, which it had prioritised, and short-term delivery. "This has certainly been a trigger moment for Unilever, and we will not waste it," he said at the Consumer Analyst Group of New York conference in Boca Raton, Florida, in a presentation...

  • NEW YORK— U.S. stocks are losing ground Friday as banks fall and energy companies continue to slide, putting the Dow Jones industrial average on track to break a 10- day winning streak. The losses are modest, but there's far more selling than buying on Wall Street. The Standard& Poor's 500 index fell 4 points, or 0.2 percent, to 2,359. The Nasdaq composite sank 11 points,...

  • NEW YORK, Feb 24- Next week's planned US $3.2 bn IPO of Snap Inc, maker of the popular Snapchat app, is oversubscribed, market sources told IFR on Friday. The much-awaited deal is scheduled to price on Wednesday, with the company set to begin trading on the New York Stock Exchange the following day. Potential buyers have been plentiful at lunches in New York and London...

  • Graeme Pitkethly said Kraft's offer had highlighted the importance of achieving a balance between long-term sustainable value, which it had prioritised, and short-term delivery. "This has certainly been a trigger moment for Unilever, and we will not waste it," he said at the CAGNY conference in New York in a presentation streamed on its website.

  • *Six U.K. P&I clubs account for half market share. *Two P&I clubs already regulated in Luxembourg. LONDON, Feb 24- U.K.- regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial market, industry sources involved say.

  • LONDON, Feb 24- The head of French carmaker PSA played down the threat to British factories when he discussed the potential takeover of GM's European operations with union officials and politicians in London on Friday. The British visit was the latest part of a charm offensive by Carlos Tavares, chief executive of Peugeot-maker PSA, after news broke last week...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *OPEC compliance to rise as UAE, Iraq pledge to catch up. Compliance is set to rise even further in coming months as OPEC laggards United Arab Emirates and Iraq have pledged to catch up with their individual targets.

  • LONDON, Feb 24- Unilever said the shock of Kraft Heinz's opportunistic approach had jolted it to re-examine its strategy, and all aspects of the consumer goods giant's business were up for review to increase shareholder value. Chief Financial Officer Graeme Pitkethly said the Kraft bid had created an "inflection point," and had highlighted the importance of...

  • LONDON, Feb 24- Bond market jitters spilled over into stocks on Friday, pulling European indexes lower for a third straight session, and the dollar was poised for a weekly loss as "Trumpflation" trades lost momentum. Treasury Secretary Steven Mnuchin took the edge off those expectations in his first televised interviews since he took office last week, when he said...

  • LONDON, Feb 24- Britain's business minister Greg Clark said he discussed with the chief executive of Peugeot the firm's approach to expand production, rather than close plants, as the French carmaker explores taking over GM's Vauxhall and Opel brands in Europe. Clark met PSA's Carlos Tavares in London on Friday as concerns mounted about the future of jobs and...