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Europe News United Kingdom

  • EDF Chief Executive Henri Proglio is expected to step down from French utility Veolia's board, French daily Les Echos reported. Europe's car market will not really recover without EU-led coordination of capacity cuts, Fiat and Chrysler Chief Executive Sergio Marchionne said, in an apparent back-track on comments he made at the Paris auto show last month.

  • MELBOURNE, Oct 11- Australian shares fell 0.2 percent on Thursday, weighed by weakness in miners but paring steeper earlier losses after data showed a jump in jobs in September. Lynas Corp Ltd plunged 15 percent as it faced another delay in opening its rare earths plant in Malaysia.

  • By Josephine Mason and Susan Thomas. NEW YORK/ LONDON, Oct 11- The London Metal Exchange may add morning rounds of open-outcry trading for its unique futures contracts, senior trade sources say, as the new Hong Kong- based owners plot their first major move to hold off intense competition from their Shanghai rival.

  • LONDON, Oct 11- BBVA shifted its stance of calling subordinated bonds at the earliest opportunity, as Spain's second largest bank struggles to fund at sustainable levels in the wholesale markets. On Wednesday, Austria's Raiffeisen Bank International gave investors in a Tier 2 bond a similar warning.

  • *Turkey, Syria fighting reinforces worry over Middle East supply. NEW YORK, Oct 11- Oil prices rose on Thursday as tensions between Syria and Turkey escalate and maintenance curbs on North Sea output continue.

  • PARIS, Oct 11- European stocks rallied on Thursday after a drop in U.S. jobless claims while Spain's credit downgrade raised expectations that Madrid would soon request a bailout.

  • The head of an internal UBS probe into "rogue trader" Kweku Adoboli, accused of losing the Swiss bank $2.3 billion, did not consider whether others at the bank might have been involved, a London court heard. said Pascal Boillat would take over as the new head of GF AgieCharmilles when Jean-Pierre Wilmes retires on Jan. 1, 2013.

  • *More wind electricity output in Germany, France. *Unions stopped E.ON' s French thermal power plants. ,while Germany's equivalent spot contract also fell 6.85 euros to 45.15 euros per MWh.

  • By Owen Sanderson and Anil Mayre. LONDON, Oct 11- UK buy-to-let specialist Paragon will try to sell down the entire capital structure in its new Paragon securitisation, placing not just the super-safe Triple A rated bonds, which many issuers have done since the crisis, but also two riskier tranches subordinated to that.

  • *North Sea output to fall by 1 percent in November. BP purchased its fourth cargo this week on Thursday and rival traders expect the oil to be loaded onto a Very Large Crude Carrier bound for South Korea, removing a chunk of supply from northwest Europe.

  • LONDON, Oct 11- Its $45 billion merger plan shot down, BAE Systems must now hunt growth elsewhere if the British arms maker is to find the cash needed to sustain big dividends and avert the possibility of a break-up. CEO Ian King is under pressure to spur the search for new business with a lucrative deal in Saudi Arabia now seen as crucial to bolster the balance sheet.

  • DUBLIN, Oct 11- The first private clinic offering abortions will open in Northern Ireland next week, the Marie Stopes charity said on Thursday, making access to abortion much easier for women in both Northern Ireland and the Republic of Ireland.

  • Oct 11- The U.S. Department of Agriculture has raised its 2012/ 13 global ending stock forecast for cotton to record highs for a third consecutive month, sending prices down and reinforcing concerns about weakening demand from China, the world's largest textile market.

  • NEW YORK-- The McGraw-Hill Companies Inc. said Thursday that its Platts division is buying Swiss analytics firm Kingsman SA for an undisclosed price. Founded in 1990 and based in Lausanne, Switzerland, Kingsman employs analysts, researchers and report writers in several markets, including London, Montreal, New Delhi and Sao Paulo.

  • *FTSE jumps 0.9 pct, snaps three-session losing streak. "FTSE back at the important 5,800 level after bouncing off support. If we can hold this level then we might just be about to hear people discussing a year-end rally, "said Lex van Dam, a partner at hedge fund Hampstead Capital, which manages around $500 million of assets.

  • LONDON, Oct 11- Russian Urals crude extended its rally to over 10 days on Thursday as the market struggled with poor cargo availability amid healthy refining margins. In the Platts window, BP bid for a 22-26 cargo in the Baltic at dated Brent minus $1.25 a barrel, some 5 cents stronger than earlier in the week.

  • *Southerners: unity a failure, we can handle al Qaeda ourselves. Secessionists in the south, Houthi Islamist tribal rebels in the north and al Qaeda militants all benefited from the popular upheaval in the Arabian Peninsula country that ousted veteran strongman president Ali Abdullah Saleh in February.

  • LONDON-- The San Francisco 49 ers will return to Wembley Stadium to play an NFL regular-season game against the Jacksonville Jaguars in 2013.. The Jaguars, who have a deal to play one home game in London for four consecutive seasons beginning in 2013, will face the 49 ers on Oct. 27, 2013.

  • Oct 11- Fitch Ratings has affirmed London Power Networks plc's Long-term Issuer Default Rating at' BBB+ and South Eastern Power Networks plc and Eastern Power Networks plc's Long-term IDRs at' BBB'. A complete list of rating actions is at the end of this release.

  • Moody's has Spain on review for a possible downgrade. Italy's government expects to raise at least 1 billion euros from the financial transaction Rome aims to introduce starting from the beginning of next year, daily Il Corriere della Sera said on Thursday.