| * Severstal call for global steel agreement * China: The road to reform * PetroChina and Cnooc ink Americas deals * PM trips 'fail to open up Indian markets' * EM economic reform hamstrung by politics * Western companies 'too slow' into Myanmar, warns adviser * Ukraine throws EU deal in jeopardy as it delays key vote Markets: up Severstal call for global steel agreement Russian group calls for companies and states to agree massive restructuring of global steel industry in order dramatically to cut output and capacity http://on.ft.com/1aUpBC4 China: The road to reform The Communist party's plenary session offered few signs that vital strucural changes are imminent but helped Xi Jinping consolidate his grip on power http://on.ft.com/1aUpBCa PetroChina and Cnooc ink Americas deals PetroChina buys Peruvian oil and gasfields stakes from Petrobras while separately Cnooc eyes building a terminal to export LNG in western Canada http://on.ft.com/1aUpBSu PM trips 'fail to open up Indian markets' Former ministers say the UK needs a more co-ordinated approach to trade promotion in what remains an 'extraordinarily attractive market' http://on.ft.com/1aUpAhw EM economic reform hamstrung by politics Combination of state control and free enterprise that promised so much post-crisis is under scrutiny http://on.ft.com/1aUpAhy Western companies 'too slow' into Myanmar, warns adviser Western companies risk losing out to rivals from China and other Asian countries because they are too slow to invest in Myanmar's fast-opening economy, a presidential economic adviser has warned. http://on.ft.com/1gIPA1L Ukraine throws EU deal in jeopardy as it delays key vote Ukraine's chances of signing historic deals with the EU this month are in jeopardy after its parliament delayed until next week a vote to allow jailed opposition leader Yulia Tymoshenko to be released to Germany for medical treatment. http://on.ft.com/1eLBeNb Emerging Markets MSCI Emerging Market Index up +0.87% at 988.45 Americas DJIA up +0.45% at 15,822 S&P 500 up +0.81% at 1,782 Bovespa up +0.82% at 52,230 Asia Nikkei 225 up +2.54% at 14,937 Topix up +1.45% at 1,222 Hang Seng up +0.88% at 22,660 Shanghai Composite up +0.45% at 2,097 MSCI Asia ex-Japan up +1.18% at 539.73 CNX Nifty up +1.69% at 6,091 Currencies €/$ 1.35 (1.35) $/¥ 99.63 (99.22) Commodities Brent Crude (ICE) up +0.18 at 107.30 Light Crude (Nymex) up +0.08 at 93.96 100 Oz Gold (Comex) up +11.90 at 1,280 |