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Financial Times
beyondbrics



London headlines

* Asia growth drives up number of 'super rich', says report

* Philippine growth underpinned by revitalised manufacturing sector

* Iraq at the centre of internal Opec debates

* Colombia's top bank heads to Wall St

* Brazil investors look beyond benchmark index

* Glencore Xstrata hit by South Africa chrome-mine strikes

* Coffee slides on Brazil supply concern

Markets: mixed

Asia growth drives up number of 'super rich', says report
There are more millionaires and "super rich" people than ever before as the rapid growth in Asia's emerging markets propels private wealth to record levels, according to a new report.
http://www.ft.com/cms/s/0/d8010010-c869-11e2-acc6-00144feab7de.html

Philippine growth underpinned by revitalised manufacturing sector
When B/E Aerospace, the US-based maker of aircraft cabin interior parts, was looking to build its first factory outside its home market or Europe it did not look a lot further than the Philippines.
http://on.ft.com/113MM2j

Iraq at the centre of internal Opec debates
As Opec ministers filter into Vienna for the twice-yearly meeting of the oil cartel, most are expecting a meeting of nuance rather than headlines. Barring a last-minute U-turn, Opec is set to keep its official production target unchanged at 30m barrels a day.
http://on.ft.com/12QHf1t

Colombia's top bank heads to Wall St
Colombia's Grupo Aval is on its way to Wall St. The country's biggest banking group by assets intends to list on the New York Stock Exchange with an initial public offering of $100m of preferred shares in the form of American Depository Shares (ADSs).
http://on.ft.com/15fnIdG

Brazil investors look beyond benchmark index
A funny thing happened to Brazil's benchmark Bovespa index this month. OGX Petróleo e Gas, the oil company controlled by the country's richest man, Eike Batista, has been one of the market's most notorious losers, shedding about 87 per cent of its value over the past year to become a penny stock in dollar terms.
http://on.ft.com/17xSNh0

Glencore Xstrata hit by South Africa chrome-mine strikes
Glencore Xstrata has been forced to reduce its operations at three of its chrome mines in South Africa after hundreds of workers embarked on a wildcat strike.
http://on.ft.com/10DwpxW

Coffee slides on Brazil supply concern
Arabica coffee continued its downward price slide, falling to a four and a half year low on continued concerns about extra supply from Brazil. The higher quality bean, used in espressos and cappuccinos, fell to levels not seen since September 2009, with the ICE coffee benchmark for September delivery hitting $1.273 a pound.
http://on.ft.com/18BRcUm

Emerging Markets
MSCI Emerging Market Index down -0.26% at 1,013

Americas
DJIA up +0.14% at 15,325
S&P 500 up +0.37% at 1,654
Bovespa down -2.50% at 54,635

Asia
Nikkei 225 up +1.45% at 13,786
Topix up +0.07% at 1,135
Hang Seng down -0.11% at 22,460
Shanghai Composite up +0.03% at 2,319
MSCI Asia ex-Japan down -0.16% at 545.88
CNX Nifty down -1.08% at 6,058

Currencies
€/$ 1.30 (1.30)
$/¥ 100.88 (100.72)

Commodities
Brent Crude (ICE) up +0.05 at 102.24
Light Crude (Nymex) up +0.02 at 93.63
100 Oz Gold (Comex) up +6.20 at 1,418

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