| * Euro slides as bloc's woes intensify * Philippines wins investment-grade rating * Libya to supply Egypt with oil on credit * Allianz to buy Turkish insurer for €684m * Fonterra eyes China baby milk market * Brazil and China agree currency swap * Moscow renews crackdown on NGOs * Poland opens way to euro referendum * YPF signs preliminary Dow Argentina deal * Gol: in a tailspin Markets: mixed Euro slides as bloc's woes intensify
Wednesday 11:20 GMT. Stocks have reversed initial session gains and the euro has slumped to a fresh four-month low as worries about the political situation in Italy joins fretting over the Cypriot banking crisis to intensify fears about the prospects for the eurozone.
http://on.ft.com/ZuDRJv Philippines wins investment-grade rating
The Philippines has won its first investment-grade rating, the latest sign of confidence in one of Asia's fastest-growing economies.
http://blogs.ft.com/beyond-brics/2013/03/27/philippines-secures-first-investment-grade/ Libya to supply Egypt with oil on credit
Libya has agreed to supply its economically beleaguered neighbour Egypt with a million barrels of oil a month, part of an aid lifeline that includes a $2bn cash deposit in Cairo's coffers and easing visa restrictions for Egyptian labourers.
http://on.ft.com/Zvc5N8 Allianz to buy Turkish insurer for €684m
Allianz has boosted its position in Turkey through a €684m deal to buy non-life and pensions businesses from Yapi Kredi bank in a move that marks the consolidation of the country's developing insurance sector.
http://on.ft.com/XbqGiV Fonterra eyes China baby milk market
Fonterra, the world's largest dairy exporter, said it plans to move into China's lucrative infant formula market as it warned that drought would hit earnings and milk production in the second half of its financial year.
http://on.ft.com/ZuOFaA Brazil and China agree currency swap
Brazil and China sealed a $30bn currency swap agreement on Tuesday that is expected to act as a backstop to growing trade between the two countries.
http://on.ft.com/ZrsOkc Moscow renews crackdown on NGOs
Dozens of non-profit organisations have been raided by authorities across Russia in a renewed crackdown described by one Moscow human rights worker as a "shock-and-awe campaign" against foreign funding of civil society groups.
http://on.ft.com/YzmLNR Poland opens way to euro referendum
Donald Tusk, Poland's prime minister, took a big political gamble on Tuesday when he opened the door to a referendum on joining the euro, in the face of strong public opposition to the common currency.
http://on.ft.com/11IALBP YPF signs preliminary Dow Argentina deal
YPF, the nationalised Argentine oil and gas company, said it had signed a preliminary deal with Dow Argentina, part of the US petrochemicals group, to develop shale gas prospects in the Vaca Muerta formation.
http://on.ft.com/YejH7z
Gol: in a tailspin
2012 was a tough year for Gol, Brazil's second-biggest airline. The company went through a series of job cuts, suffered net losses and was subject to rumours that it was about to be sold. The latter proved unfounded but what has not changed is that Gol's financial results continue to disappoint.
http://on.ft.com/16WzbQL Emerging Markets
MSCI Emerging Market Index up +0.09% at 1,030 Europe
FTSE up -0.54% at 6,365
RTS down -0.63% at 1,436
Warsaw Wig down -0.32% at 44,580
FTSE 300 Eurotop down -0.60% at 1,181 Americas
DJIA up +0.77% at 14,560
S&P 500 up +0.78% at 1,564
Bovespa up +0.01% at 55,677 Asia
Nikkei 225 up +0.18% at 12,494
Topix up +0.20% at 1,046
Hang Seng up +0.69% at 22,465
Shanghai Composite up +0.16% at 2,301
MSCI Asia ex-Japan up +0.63% at 471.06
S&P CNX Nifty Index up +0.14% at 5,642 Currencies
€/$ 1.28 (1.29)
$/¥ 94.36 (94.41) Commodities
Brent Crude (ICE) up +0.03 at 109.39
Light Crude (Nymex) down -0.51 at 95.83
100 Oz Gold (Comex) down -3.10 at 1,593 | 
