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Financial Times
beyondbrics



New York headlines

* Cyprus holds crisis talks in Moscow

* Stocks shrug off Cyprus worries

* Russian business deals on hold

* Miners hit as China iron ore demand falls

* ENRC pulled into red by $1.2bn impairment

* US probes Microsoft China bribery claim

* Peru's capital markets "scarcely liquid" say finance minister

* Tehran's shoppers subdued for new year

* India court summons Bharti chairman

* S Africa: weakening rand adds to list of economic woes

Markets: mostly up

Cyprus holds crisis talks in Moscow
Cyprus's finance minister held talks in Moscow on Wednesday to try to wrest vital economic assistance from the Kremlin after his country's parliament rejected a €10bn EU-led bailout that requires €5.8bn to be seized from Cypriot bank accounts.
http://on.ft.com/ZGAazi

Stocks shrug off Cyprus worries
Wednesday 10:30 GMT. Stocks and commodities are firmer as optimism over the US economy, coupled with confidence the Federal Reserve and other central banks will remain supportive, mask traders' jitters about the Cyprus banking crisis.
http://on.ft.com/WFyCaZ

Russian business deals on hold
Billions of dollars in Russian business transactions via Cyprusare on hold because of the shutdown of the country's financial system as bankers and lawyers work feverishly to salvage the deals.
http://on.ft.com/WDZAQu

Miners hit as China iron ore demand falls
Rio Tinto led the FTSE 100 fallers on Tuesday as London-listed miners had their worst day in 10 months.
http://on.ft.com/YFLTM9

ENRC pulled into red by $1.2bn impairment
ENRC posted a $550m pre-tax loss for 2012 on Wednesday and told investors there would be no final dividend for the year.
http://on.ft.com/YFMlKj

US probes Microsoft China bribery claim
Microsoft said it would co-operate with any government inquiry following a report that the Department of Justice and Securities and Exchange Commission were investigating bribery allegations made against company employees.
http://on.ft.com/YpxVPb

Peru's capital markets "scarcely liquid" say finance minister
Peru is typically grouped with Mexico, Panama, Colombia and Chile as one of Latin America's high-growth economies, a darling of international investors. But how easy is it to invest in? Not easy at all, says Luis Miguel Castilla, Peru's finance minister.
http://on.ft.com/16FEcNo

Tehran's shoppers subdued for new year
As Persian new year approaches, Tehran residents traditionally flock to the capital's grand bazaar to get festive treats at lower prices than elsewhere in the city. But this year the seasonal rush is decidedly subdued in the run-up to new year, or Norouz, which will start on March 21, due to economic hardship which has been intensified by US and EU banking and oil sanctions.
http://on.ft.com/15ZvisP

India court summons Bharti chairman
Bharti Airtel's chairman has been ordered to appear in front of an Indian court investigating telecoms corruption next month, sending shares in the country's largest telecoms company by revenue down about 5 per cent.
http://on.ft.com/15Zvp7P

S Africa: weakening rand adds to list of economic woes
As South Africa's Monetary Policy Committee has been meeting this week it will have been grappling with some familiar themes: a subdued global outlook and sluggish growth at home while juggling with the trade-off between boosting economic activity and countering inflationary pressures.
http://on.ft.com/16GQJjC

Emerging Markets
MSCI Emerging Market Index up +0.13% at 1,026

Europe
FTSE up +0.02% at 6,442
RTS up +0.24% at 1,482
Warsaw Wig up +0.50% at 46,258
FTSE 300 Eurotop up +0.31% at 1,199

Americas
DJIA up +0.03% at 14,456
S&P 500 down -0.24% at 1,548
Bovespa down -1.07% at 56,361

Asia
Nikkei 225 up +2.03% at 12,468
Topix up +1.71% at 1,046
Hang Seng up +0.97% at 22,256
Shanghai Composite up +2.66% at 2,317
MSCI Asia ex-Japan down -0.04% at 467.99
S&P CNX Nifty Index down -0.90% at 5,694

Currencies
€/$ 1.29 (1.29)
$/¥ 95.41 (95.13)

Commodities
Brent Crude (ICE) up +0.87 at 108.32
Light Crude (Nymex) up +0.58 at 92.74
100 Oz Gold (Comex) up +1.20 at 1,613

 

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