London morning headlines


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Financial Times
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London headlines

* Nikkei falls but losses muted as Asia awaits US jobs data

* Reliance to invest $26 billion over three years

* S&P cuts outlook on Brazil sovereign rating

* SEC charges Thai trader with fraud over Smithfield stock orders

* Venezuela: here comes hyperinflation

* Blackstone in $1bn Brazil property venture

* Aditya Birla pursues growth outside India

* China's Wanda nears deal for James Bond yachtmaker

* Huawei report sparks doubts on Chinese involvement in UK projects

Markets: mixed

Nikkei falls but losses muted as Asia awaits US jobs data
Most Asian markets opened in the red, although losses were muted ahead of key US non-farm payrolls data due out later in the global day.
http://on.ft.com/13fy5vP

Reliance to Invest $26 Billion Over Three Years
Reliance Industries Ltd Thursday outlined a three-year investment plan of 1.5 trillion rupees ($26 billion) to further expand its businesses which range from gas production and oil refining to selling groceries and vegetables.
http://on.wsj.com/14z5QYc

S&P cuts outlook on Brazil sovereign rating
Standard & Poor's late on Thursday lowered the outlook on Brazil's sovereign rating in a warning for a country that until recently has been a rising star of credit rating agencies.
http://on.ft.com/1baBLSy

SEC charges Thai trader with fraud over Smithfield stock orders
A Thailand-based trader made a $3.2m profit by buying securities of Smithfield Foods days before the US pork producer announced its takeover by China's Shuanghui International, US regulators alleged on Thursday.
http://on.ft.com/10Tl1hC

Venezuela: here comes hyperinflation
More bad news for Nicolas Maduro, Venezuela's embattled new president. The latest inflation figures are in, and if the gloomier predictions are to be believed, hyperinflation could even be around the corner.
http://on.ft.com/19MW4HK

Blackstone in $1bn Brazil property venture
Blackstone Group and its Brazilian partner are set to sign a $1bn deal with homebuilder Gafisa for a controlling stake in its high-end residential subsidiary, according to people familiar with the matter.
http://on.ft.com/193KGbD

Aditya Birla pursues growth outside India
Kumar Mangalam Birla, the head of the Aditya Birla group, India's third-largest conglomerate by revenues, said worsening conditions in Asia's third-largest economy would see his company delay capital expenditure while continuing to seek investment opportunities abroad.
http://on.ft.com/10SQHUi

China's Wanda nears deal for James Bond yachtmaker
A Chinese property group is close to buying Sunseeker, Britain's largest luxury yachtmaker by sales, underscoring the growing appetite for European luxury assets among Chinese buyers.
http://on.ft.com/10TGdnB

Huawei report sparks doubts on Chinese involvement in UK projects
The Chinese are one of the main targets for George Osborne in his attempts to attract investment in infrastructure projects such as power stations and transport.
http://on.ft.com/13fyFtt

Emerging Markets
MSCI Emerging Market Index down -0.28% at 982.33

Americas
DJIA up +0.53% at 15,041
S&P 500 up +0.85% at 1,623
Bovespa up +0.16% at 52,885

Asia
Nikkei 225 down -1.73% at 12,681
Topix down -2.17% at 1,048
Hang Seng down -1.28% at 21,559
Shanghai Composite down -0.77% at 2,225
MSCI Asia ex-Japan down -0.63% at 529.07
CNX Nifty down -0.33% at 5,902

Currencies
€/$ 1.33 (1.32)
$/¥ 96.38 (96.94)

Commodities
Brent Crude (ICE) up +0.19 at 103.80
Light Crude (Nymex) up +0.05 at 94.81
100 Oz Gold (Comex) down -3.10 at 1,413

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