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Financial Times
beyondbrics



New York headlines

* Yen volatile ahead of US jobs data

* Erdogan calls for halt to Turkey protests

* China property buyers head for London

*S&P cuts outlook on Brazil sovereign rating

*Reliance to invest $26 billion over three years

* 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

Markets: nervous

Yen volatile ahead of US jobs data
A very twitchy week is ending with more pockets of volatility across currencies and stocks ahead of key US non-farm payrolls data due out later in the global day.
http://www.ft.com/intl/cms/s/0/64c42a0c-cf15-11e2-ae25-00144feab7de.html

Erdogan calls for halt to Turkey protests
Recep Tayyip Erdogan, Turkey's prime minister, has returned to Istanbul in uncompromising mood, calling on the demonstrators who have shaken the country to return home and hitting out at financial speculators.
http://www.ft.com/intl/cms/s/0/e6383e8a-ce74-11e2-ae25-00144feab7de.html

China property buyers head for London
Chinese real estate investment in Europe this year has already hit €2.2bn versus €2bn for the whole of last year, with London the prime target, according to a LaSalle Investment Management/ Real Capital Analytics report.
http://blogs.ft.com/beyond-brics/2013/06/07/chinese-property-buyers-head-for-london/

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

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

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

Emerging Markets
MSCI Emerging Market Index down -0.59% at 979.24

Europe
FTSE down -0.16% at 6,326
RTS up +0.57% at 1,294
Warsaw Wig up +0.36% at 47,745
FTSE 300 Eurotop down -0.23% at 1,176

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 -0.21% at 12,878
Topix down -1.29% at 1,057
Hang Seng down -1.21% at 21,575
Shanghai Composite down -1.39% at 2,211
MSCI Asia ex-Japan down -0.95% at 450.50
CNX Nifty down -0.68% at 5,881

Currencies
€/$ 1.33 (1.32)
$/¥ 95.90 (96.94)

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