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Europe Top News and Analysis United Kingdom


  • Britain's FTSE edges higher as defensive stocks climb Wednesday, 3 Oct 2012 | 12:29 AM ET

    *FTSE 100 closes up 0.3 percent at 5,825.81 points. *Traders say technical levels favouring FTSE at present. *Intl Airlines Group and ARM top FTSE 100 leaderboard By Sudip Kar-Gupta.

  • Luxfer shares rise on NYSE after IPO raises $80M Wednesday, 3 Oct 2012 | 12:28 AM ET

    NEW YORK-- Luxfer Holdings PLC's U.S. shares jumped in their first hours of trading Wednesday on the New York Stock Exchange. The initial public stock offering of the chemicals and metals maker, which is based in the U.K., priced 8 million shares at $10 each. The company had predicted that shares would price higher, from $12 to $14 each.

  • LONDON, Oct 3- The European Commission's ambition for a single energy market conflicts with aims in Britain and other countries to boost their own national energy security by paying investors to ensure gas-fired power capacity is available several years ahead.

  • LONDON/ NEW YORK, Oct 3- The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.

  • WAfrica Crude-Easier on unsold November cargoes Wednesday, 3 Oct 2012 | 12:17 AM ET

    *Qua Iboe valued at dated plus $2.20- $2.60. LONDON, Oct 3- Nigerian crude oil differentials slipped a little on Wednesday as a small overhang of November-loading cargoes encouraged sellers to move lower. *Qua Iboe: 5- 10 cents per barrel lower, traders said.

  • PARIS, Oct 3- A quest by President Francois Hollande to show he can halt industrial closures by rescuing two mothballed blast furnaces in northeast France risks backfiring, with industry experts doubting any buyer will come forward. With joblessness at over 10 percent and his ratings in free-fall, Hollande persuaded steel giant ArcelorMittal.

  • Louis Vuitton to sell luxury paper and pens Wednesday, 3 Oct 2012 | 12:13 AM ET

    PARIS, Oct 3- Louis Vuitton is branching out into luxury pens and stationery as the upmarket leather bag maker looks for new ways to retain its exclusive image, after it launched high-end jewellery and hired an expert to create a perfume.

  • UPDATE 3-Telefonica starts sale of O2 Germany stake Wednesday, 3 Oct 2012 | 12:11 AM ET

    *Telefonica to list German unit around end of month. *Telefonica smallest player in Germany, room to grow. MADRID/ FRANKFURT, Oct 3- Telefonica SA started the sale of up to 20 percent of its O2-branded German unit, hoping to raise up to 1.5 billion euros from a share offering designed to help cut the Spanish group's huge debts.

  • Europe Power-Spot rises after German holiday slump Wednesday, 3 Oct 2012 | 12:11 AM ET

    *Germany's Cal 13 falls to three-month low on data. Germany's benchmark electricity contract for 2013 delivery hit a three-month low on the back of lower oil prices and gloomy macro-economic data. Germany's baseload contract for Thursday delivery rose 2.13 euros to 44.5 euros per megawatt hour.

  • A series of recent investor meetings with Fitch's EMEA Food Retail team in London, Frankfurt, and Paris underlined that investors are concerned to what extent ratings are at risk due to increased business and credit risks for European food retail companies.

  • TEXT-Fitch rates Mornington Funding 2012-1 notes 'AAAsf' Wednesday, 3 Oct 2012 | 12:08 AM ET

    The proceeds of the issuance of notes by Mornington will be used to acquire the rights and obligations of the senior loan lender A in the Paragon Fourth Funding Limited secured credit facility agreement from Macquarie Bank Limited.

  • "In the case of Russia, there has been a steady net outflow of capital over the past couple of years, which calls into question its ability to run any kind of current account deficit," said Neil Shearing, chief emerging market economist at Capital Economics, a consultancy in London.

  • Italy - Factors to watch on Oct. 3 Wednesday, 3 Oct 2012 | 12:00 AM ET

    *Italy's public debt is sustainable and the average yields paid on new government paper issued so far this year are lower than they were before the crisis, the head of Italy's Debt Management Office said in a newspaper interview published on Wednesday.

  • *London, Dubai, Singapore and Houston under consideration. Oct 2- Seadrill Ltd, the world's biggest driller by market capitalisation, said it plans to replace CEO Alf Thorkildsen with the head of its Archer Ltd affiliate, and is looking to relocate management outside Norway.

  • MELBOURNE, Oct 3- Australian shares hit a 14 month-high on Wednesday as banks and broader stocks surged after the central bank cut interest rates and the local dollar weakened, enhancing export earnings. Top banks were all higher, led by National Australia Bank. "People are rethinking everything," said Macquarie Equities division director Lucinda Chan.

  • PRESS DIGEST - Hong Kong - Oct 3 Tuesday, 2 Oct 2012 | 9:52 PM ET

    HONG KONG, Oct 3- These are some of the leading stories in Hong Kong newspapers on Wednesday. --Sun Hung Kai Properties Ltd has sold about 700 units at its new residential project, Century Gateway, in Tuen Mun for HK $5 billion, said deputy managing director Victor Lui.

  • LONDON, Oct 3- Suggested structural reforms to banks should be a cause for concern for investors because they do not go far enough, a top Bank of England official said on Wednesday, following recommendations by an EU advisory group for banks' to separate retail from trading activities.

  • NY appeals court orders bail for philanthropist Tuesday, 2 Oct 2012 | 9:31 PM ET

    NEW YORK-- An opera-loving philanthropist convicted of a multimillion-dollar fraud will soon be freed from prison on bail after a federal appeals court signaled on Tuesday he might be succeeding in proving his case deserves a second look.

  • LONDON, Oct 3- Britain scrapped on Wednesday a $9 billion deal that had awarded the West Coast rail line to FirstGroup Plc, citing flaws in the government's figures, just a day after the company had said it was prepared to take over the key mainline train service this year.

  • PRESS DIGEST - British business - Oct 3 Tuesday, 2 Oct 2012 | 9:07 PM ET

    More than 800 jobs were at risk last night as administrators from Deloitte raced to find a buyer for WaverleyTBS, one of Britain's biggest suppliers of drinks to pubs, clubs and hotels. Britain is part of a debtor nation "ring of fire" where bondholders are at risk of being "burned to a crisp", the head of the world's biggest bond house has warned.