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  • LONDON, Dec 12- Gold prices inched higher on Tuesday but were still hovering near their lowest in almost five months ahead of a widely expected U.S. interest rate increase this week. 1130 GMT, after hitting its lowest since July 20 at $1,240.10 on Monday. "The rise is already in the price so it's more about the outlook the Fed gives," said ABN AMRO commodity strategist...

  • *2017 sales seen at 224 billion euros. FRANKFURT, Dec 12- German engineering output is likely to grow at a steady 3 percent next year as domestic manufacturers begin to reinvest in equipment, compensating for slower export growth to China, industry association VDMA said on Tuesday. Engineering is still the backbone of Germany's economy- which is set to grow by more...

  • LONDON, Dec 12- Copper lead most base metals lower on Tuesday, as investors booked profits ahead of the year-end and ahead of an expected U.S. interest rate increase this week. Also weighing on metals, equity markets fell in China, with investors worried that China's central bank might follow the U.S. The big picture is still profit taking by funds in approach to the...

  • LONDON, Dec 12- Less than two weeks after OPEC's decision to extend oil production cuts, Libya and Nigeria the only two exempt members of the group are signaling their intent to raise output next year. On Saturday, the head of Libya's U.N.-backed government met the head of Libya's National Oil Corp and the governor of Tripoli's central bank to discuss how the...

  • LONDON, Dec 12- Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday after a shutdown of the UK's biggest North Sea oil pipeline, which helps set the benchmark for global prices. Brent crude, the global benchmark, was up by 92 cents at $65.61 at 1132 GMT, after breaking above $65 for the first time since June 2015 and trading as high as $65.70.

  • PARIS, Dec 12- Sanofi still needs to convince markets it can deliver on an exciting and sustainable growth path as it contends with fresh difficulties in its vaccines arm and looks set for another gloomy year in diabetes, investors told Reuters. The French drugmaker holds an "innovation day" on Wednesday to discuss its pipeline of new drugs while it attempts to...

  • *Brent hits $65 a barrel. LONDON, Dec 12- Oil prices jumped to their highest in more than two years on Tuesday after the shutdown of a North Sea pipeline knocked out significant supply from an already tightening market. Brent crude futures, the global benchmark for oil prices, rose above $65 a barrel-- their highest since mid-2015-- after Britain's Forties pipeline was...

  • JOHANNESBURG/ FRANKFURT, Dec 12- South Africa's Steinhoff is considering selling stakes worth a combined $1.4 billion in local companies PSG Group and KAP Industrial to help plug a liquidity gap at the retailer, two sources familiar with the matter said. Steinhoff owns about 25 percent of PSG, a 60 billion rand investment holding company, and 39 percent of...

  • DUBLIN, Dec 12- A better outcome from Brexit negotiations has become more likely as a result of last week's agreement to move to phase two of talks, Irish Central Bank Deputy Governor Ed Sibley said on Tuesday. "It's certainly a welcome development. The probability of a more favorable outcome has most certainly increased as a result, "said Sibley, who had recently...

  • DUBLIN, Dec 12- A better outcome from Brexit negotiations has become more likely as a result of last week's agreement to move to phase two of talks, Irish Central Bank Deputy Governor Ed Sibley said on Tuesday. "It's certainly a welcome development. The probability of a more favourable outcome has most certainly increased as a result, "said Sibley, who had recently...

  • VIENNA/ LONDON, Dec 12- An explosion and fire that ripped through Austria's main gas pipeline hub on Tuesday killed one person and injured 18 others, emergency services said, causing Italy to declare a state of emergency due to a lack of gas supplies. Gas Connect Austria, which operates the Baumgarten site in eastern Austria, said the blaze had been brought under...

  • BERLIN— A union is calling on German-based pilots at budget airline Ryanair to strike in a dispute over pay and conditions, though it says there will be no walkouts in the days around Christmas. Cockpit hopes to force Ryanair into negotiations on what it calls "market-appropriate working and pay conditions" for the company's pilots. It said Germany's TUIfly,...

  • PARIS— The party of French far-right leader Marine Le Pen has been charged with allegedly misusing European Parliament funds to pay parliamentary aides who did political work for the National Front. A judicial official said on Tuesday that the party was charged as a legal entity with complicity in breach of trust, five months after Le Pen was charged.

  • YENAGOA, Nigeria, Dec 12- Protesters briefly shut three oil wells owned by Italy's ENI in southern Nigeria over the weekend and could try do so again, a community leader said on Tuesday. Timiondi Fabofighe, chairman of the Ikebiri Community Development Committee, said the protests, against the presence of multinational oil companies in Nigeria's oil production...

  • DUBLIN, Dec 12- Irish monthly residential property inflation cooled to a six-month low of 0.5 percent in October, down from an average of 1.7 percent in the previous five months, data showed on Tuesday. A recovery in prices that began in 2013 has accelerated sharply across the country this year with prices climbing 12.1 percent in the year to the end of October as a...

  • SYDNEY, Dec 12- Australian billionaire Frank Lowy, co-founder of global retail property group Westfield Corp, said on Tuesday he looks forward to being an investor rather than an executive, nearly six decades after opening a small shopping center on Sydney's outskirts. Lowy, 87, a Holocaust survivor-turned-knighted property tycoon, will retire from...

  • *Soybeans down again as rain forecast in Argentina. *Mood restrained ahead of USDA reports later on Tuesday. Soybeans hit their lowest in about three weeks on expectations of improved crop weather in Argentina and the sluggish pace of U.S. exports.

  • *Westfield owns 35 shopping centres in UK, U.S. SYDNEY/ MELBOURNE Dec 12- Unibail-Rodamco, Europe's biggest property group, has agreed to buy shopping mall owner Westfield Corp for $16 billion, marking the biggest takeover of an Australian company and a shift in global retail property to counter online shopping. The deal gives the European group exposure to the...

  • VIENNA, Dec 12- An explosion and fire that ripped through Austria's main gas pipeline hub on Tuesday killed one person and injured 18 others, emergency services said, as gas supplies to some parts of Europe were disrupted. Gas Connect Austria, which operates the Baumgarten site in eastern Austria, said the blaze had been brought under control and police added that...

  • *Romania's annual inflation highest in more than 4 years. BUDAPEST/ BUCHAREST, Dec 12- The leu fell on Tuesday after Romania reported a surge in inflation while investors in Poland waited to see how a policy speech by prime minister designate Mateusz Morawiecki later in the day would affect the zloty. The bank is unlikely to change rates at its next meeting on Jan. 8,...