London morning headlines


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Financial Times
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London headlines

* GM urges Seoul to act over currency

* Argentina reveals payment offer to holdouts

* Rurelec plans to sue Bolivia

* Russia gears up for shale boom

* China deaths raise bird flu fears

* Novartis warns India over drug patent

* Privately run press returns to Myanmar

Markets: mixed

GM urges Seoul to act over currency
The chief executive of General Motors in South Korea has urged the new government to act against its rising currency, as carmakers express concern that a weakening Japanese yen is undermining the competitiveness of South Korean exports.
http://on.ft.com/14yXYdX

Argentina reveals payment offer to holdouts
Argentina has filed its long-awaited offer to holdouts to a New York appeals court. The biggest surprise is that some people were waiting (hoping?) it would actually contain some surprises.
http://on.ft.com/109f51J

Rurelec plans to sue Bolivia
UK-based power generator Rurelec will take the Bolivian government to court on Tuesday over the nationalisation of its assets on May Day 2010.
http://on.ft.com/14yY8lu

Russia gears up for shale boom
Russia is gearing up for an oil boom on the same scale as the US, as the techniques that sparked the shale revolution are applied to Siberia's deposits of unconventional oil, according to one of the country's top oil executives.
http://on.ft.com/YVLNqD

China deaths raise bird flu fears
Two people in China have died and another is critically ill from a strain of bird flu that has never been passed to humans before, according to China's health authorities.
http://on.ft.com/10mB6Jx

Novartis warns India over drug patent
Novartis, the Swiss pharmaceuticals group, has threatened to stop supplies of new medicines to India if the country's top court refuses on Monday to grant a patent for Glivec, its cancer drug.
http://on.ft.com/16bIZDg

Privately run press returns to Myanmar
For most people in Myanmar, it will be a novelty when privately run daily newspapers hit the streets on Monday. Many were not even born when the late dictator Ne Win imposed a state monopoly on the daily press in the 1960s.
http://on.ft.com/16qRv3l

Emerging Markets
MSCI Emerging Market Index down -0.21% at 1,033

Americas
DJIA up +0.36% at 14,579
S&P 500 up +0.41% at 1,569
Bovespa up +0.57% at 56,352

Asia
Nikkei 225 down -1.31% at 12,236
Topix down -2.76% at 1,006
Hang Seng down -0.74% at 22,300
Shanghai Composite down -0.16% at 2,233
MSCI Asia ex-Japan down -0.14% at 542.96
S&P CNX Nifty Index up +0.47% at 5,709

Currencies
€/$ 1.28 (1.28)
$/¥ 93.96 (94.18)

Commodities
Brent Crude (ICE) down -0.34 at 109.68
Light Crude (Nymex) down -0.33 at 96.90
100 Oz Gold (Comex) up +2.60 at 1,597

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