| * Dairy producers flock to cater for China's babies * Asian markets follow Wall Street higher * Batista promises to hold on to OGX stock * Brazil's fiscal spending fails to translate into growth * Chidambaram says no need for 'panic' over Indian economy * Venezuela fills void left by Iranian oil export sanctions * Indonesia rate rise unlikely to set precedent for emerging markets * Vultures gather around OGX Markets: up! Dairy producers flock to cater for China's babies
Rationing in Europe. Trafficking probes in the Netherlands and New Zealand. Two-year prison terms for smugglers in Hong Kong. Calls for international aid.
http://on.ft.com/10fU212 Asian markets follow Wall Street higher
Asian equity markets opened higher after a strong session on Wall Street, providing welcome calm after a week of volatility.
http://on.ft.com/152i3Fh Batista promises to hold on to OGX stock
Brazilian billionaire Eike Batista on Thursday pledged he would not sell any more shares of his flagship oil exploration and production company OGX Petróleo e Gás Participações after news of an earlier sale spooked investors this week.
http://on.ft.com/177keOD Brazil's fiscal spending fails to translate into growth
Edno Santana de Vasconcelos, a resident of Brasília, was delighted when he secured a new dwelling earlier this year under the government's "my home, my life" housing programme for lower income earners.
http://on.ft.com/12JfSfd Chidambaram says no need for 'panic' over Indian economy
India's finance minister has urged investors not to panic over the sharp weakening of the rupee, saying that India's economy is stronger today than last year and its long-term prospects are good.
http://on.ft.com/17Ja6et Venezuela fills void left by Iranian oil export sanctions
All is fair in love and war. And for Venezuela and Iran, it seems the adage applies to oil too. Caracas, a close ally of Tehran, is quietly taking advantage of the impact of US and European oil sanctions on Iran to capture some of the market the Middle Eastern country is losing in the booming Asian region, particularly in China and India.
http://on.ft.com/10enUuZ Indonesia rate rise unlikely to set precedent for emerging markets
A surprise rate rise from Indonesia on Thursday to bolster a sagging rupiah raises the question of whether other developing countries will follow suit to defend their currencies as investors rush away from emerging markets.
http://on.ft.com/177ktJv Vultures gather around OGX
OGX has to be the bet of the year. No one really knows what will happen to the struggling oil and exploration company, whose shares have crashed after it missed production forecasts, placing in jeopardy the financial health of the entire empire of Brazilian businessman Eike Batista.
http://on.ft.com/1a8Vqob Emerging Markets
MSCI Emerging Market Index up +1.00% at 953.07 Americas
DJIA up +1.21% at 15,176
S&P 500 up +1.48% at 1,636
Bovespa up +2.51% at 50,415 Asia
Nikkei 225 up +3.39% at 12,867
Topix up +2.77% at 1,073
Hang Seng up +0.99% at 21,094
Shanghai Composite up +0.21% at 2,153
MSCI Asia ex-Japan up +1.22% at 512.97
CNX Nifty up +1.27% at 5,772 Currencies
€/$ 1.34 (1.34)
$/¥ 95.32 (95.36) Commodities
Brent Crude (ICE) down -0.21 at 104.74
Light Crude (Nymex) down -0.11 at 96.58
100 Oz Gold (Comex) up +5.70 at 1,383 | 
