Cricket-Australia v South Africa – second test scoreboard












ADELAIDE, Nov 24 (Reuters) – Scoreboard at the close of the


third day of the second test between Australia and South Africa












at Adelaide Oval on Saturday:


Australia won the toss and chose to bat


Australia first innings 550


South Africa first innings


G. Smith c Wade b Siddle 122


A. Petersen run out 54


H. Amla st Wade b Warner 11


J. Rudolph c Quiney b Lyon 29


AB de Villiers lbw b Siddle 1


F. du Plessis c Clarke b Hilfenhaus 78


D. Steyn c Ponting b Hilfenhaus 1


R. Kleinveldt b Hilfenhaus 0


J. Kallis c Wade b Clarke 58


M. Morkel b Lyon 6


I. Tahir not out 10


Extras (b-7, lb-2, w-3, nb-6) 18


Total: (all out, 124.3 overs) 388


Fall of wickets: 1-138 2-169 3-233 4-233 5-240 6-246 7-250


8-343 9-352 10-388


Bowling: B. Hilfenhaus 19.3-6-49-3, J. Pattinson 9.1-0-41-0


(nb-4, w-1) N. Lyon 44-7-91-2, P. Siddle 30.5-6-130-2 (nb-2), M.


Clarke 7-1-22-1, M. Hussey 1-0-7-0 (w-2), D. Warner 5-0-27-1, R.


Quiney 8-3-12-0


Australia second innings


D. Warner c Du Plessis b Kleinveldt 41


E. Cowan b Kleinveldt 29


R. Quiney c De Villiers b Kleinveldt 0


R. Ponting b Steyn 16


M. Clarke not out 9


P. Siddle c De Villiers b Morkel 1


M. Hussey 5


Extras (lb-7, nb-3) 10


Total (for five wickets, 32 overs) 111


Fall of wickets: 1-77 2-77 3-91 4-98 5-103


Still to bat: M. Wade, B. Hilfenhaus, J. Pattinson, N. Lyon.


Bowling: Steyn 10-4-28-1, Morkel 9-2-24-1, Kleinveldt


6-1-14-3 (nb-2), Tahir 7-1-38-0 (nb-1)


- -


Third test: WACA, Perth Nov. 30-Dec. 4


(Compiled by Ian Ransom; Editing by Alastair Himmer)


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Facebook and volatile market still chill IPOs












Making a killing on initial public offerings used to be easy.


At the peak of the technology boom, little more than a decade ago, a plentiful supply of companies vied to sell stock on the exchanges, and investors were assured mouthwatering returns.












These days, the deals are fewer and the returns more modest.


Companies are set to raise more than $ 45 billion through IPOs this year — the most since 2007, according to data provider Dealogic. But if you scratch the surface, there are signs that the market is less healthy than it appears.


Almost a third of the money raised in IPOs this year came from one deal, Facebook‘s $ 16 billion offering in May, and the number of companies taking themselves public may end at a three-year low.


The pipeline, or backlog, of companies planning to sell stock is also thinning.


“It’s a reflection of the psychology of the market today. It’s not strong. It’s moderate to weak,” says Rob Lutts, chief investment officer at Cabot Money Management in Salem, Mass.


While 437 companies have filed for an IPO this year, 178 have withdrawn or postponed their planned listings, Dealogic data show.


The state of the IPO market matters beyond Wall Street. Besides giving investors the chance to buy into fast-growing parts of the market, offerings give companies the money to expand and hire workers.


Scott Cutler, head of global listings at NYSE Euronext, which runs the New York Stock Exchange, estimates that more than 90 percent of a public company’s employee growth comes after it has listed on an exchange.


IPO activity is dictated largely by the health of the overall stock market. Falling markets discouraging companies from going public.


The Standard & Poor’s 500 is up 11 percent this year, but the advance has been punctuated by sharp declines when investors fretted about European debt, the election and, now, a looming “cliff” of tax increases and government spending cuts.


“The general market has been real choppy this year. It really has,” says Sal Morreale, an institutional salesman at Cantor Fitzgerald in Los Angeles who tracks offerings.


Facebook’s calamitous market debut also put the brakes on IPOs.


The social networking site’s offering was the most keenly anticipated market debut at least since Google’s in 2004. But concerns about revenue from smartphone users spooked investors, and the offering was plagued by technical glitches.


The stock was priced at $ 38 and fell almost immediately, dropping as low as $ 17.55 on Sept. 4. The negative publicity helped shutter the IPO market for more than a month until EQT Midstream Partners, an energy company, sold stock June 16. Companies including American Tire Distributors and Crosair, a computer memory company, were among those withdrawing their IPOs.


“That deal has become a textbook case of how not to do a deal,” says Quincy Krosby, a market strategist with Newark, N.J.-based Prudential Financial. “That IPO really chastened investors.”


The backlog of companies planning IPOs fell to 39 in November, according to data from Ipreo, a market analysis company firm. That is the fewest since August 2009, just after the recession. The tally has been declining steadily since September 2011.


NYSE’s Cutler says that much of the decline is because of a law passed in April designed to make it easier for companies to attract funding. They can confidentially notify regulators of their intention to seek a listing.


Cutler says that if the business environment remains stable, the pace of IPO filling will be “slightly up” next year as companies become more familiar with the law.


The law allows companies to avoid disclosing competitively sensitive information and come to the market at much shorter notice. Ultimately, it will encourage more companies to seek listings, Cutler says.


Despite Facebook‘s high-profile slump, most companies have left something on the table for investors.


The average return for IPOs this year has been 11 percent, according to Dealogic data. That’s less than the average 88 percent one-year return that investors garnered in 1999 but roughly in line with the broader market.


Among the best debuts: Guidewire Software, a provider of software for the insurance industry, and Nationstar Mortgage Holdings, a Texas mortgage provider and servicer, according to data from IPO investment advisory firm Renaissance Capital.


Investors that bought Guidewire’s stock at $ 13 at its market debut in January have seen it rise to almost $ 30, while Nationstar’s stock has almost doubled from $ 14 to $ 27.35.


There are some advantages to a slow IPO market, says Lutts of Cabot Money Management. When demand is low, only the best companies are able to attract enough demand to list on the exchanges, raising the quality of companies coming to the market. And it can be an indicator that the broader market is oversold and thus offers some bargains.


“When we’re frothy, everything is coming at a premium,” Lutts says. “I’m interested in equities today because of a weak IPO market.”


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Four new cases of SARS-like virus found in Saudi, Qatar












LONDON (Reuters) – A new virus from the same family as SARS which sparked a global alert in September has now killed two people in Saudi Arabia, and total cases there and in Qatar have reached six, the World Health Organisation said.


The U.N. health agency issued an international alert in late September saying a virus previously unknown in humans had infected a Qatari man who had recently been in Saudi Arabia, where another man with the same virus had died.












On Friday it said in an outbreak update that it had registered four more cases and one of the new patients had died.


“The additional cases have been identified as part of the enhanced surveillance in Saudi Arabia (3 cases, including 1 death) and Qatar (1 case),” the WHO said.


The new virus is known as a coronavirus and shares some of the symptoms of SARS, or Severe Acute Respiratory Syndrome, which emerged in China in 2002 and killed around a 10th of the 8,000 people it infected worldwide.


Among the symptoms in the confirmed cases are fever, coughing and breathing difficulties.


Of the six laboratory-confirmed cases reported to WHO, four cases, including the two deaths, are from Saudi Arabia and two cases are from Qatar.


Britain’s Health Protection Agency, which helped to identify the new virus in September, said the newly reported case from Qatar was initially treated in October in Qatar but then transferred to Germany, and has now been discharged.


Coronaviruses are typically spread like other respiratory infections, such as flu, travelling in airborne droplets when an infected person coughs or sneezes.


The WHO said investigations were being conducted into the likely source of the infection, the method of exposure, and the possibility of human-to-human transmission of the virus.


“Close contacts of the recently confirmed cases are being identified and followed-up,” it said.


It added that so far, only the two most recently confirmed cases in Saudi Arabia were epidemiologically linked – they were from the same family, living in the same household.


“Preliminary investigations indicate that these two cases presented with similar symptoms of illness. One died and the other recovered,” the WHO’s statement said.


Two other members of the same family also suffered similar symptoms of illness, and one died and the other is recovering. But the WHO said laboratory test results on the fatality were still pending, and the person who is recovering had tested negative for the new coronavirus.


The virus has no formal name, but scientists at the British and Dutch laboratories where it was identified refer to it as “London1_novel CoV 2012″.


The WHO urged all its member states to continue surveillance for severe acute respiratory infections.


“Until more information is available, it is prudent to consider that the virus is likely more widely distributed than just the two countries which have identified cases,” it said.


(Editing by Alison Williams)


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‘Dallas’ star Larry Hagman dies in Texas












J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television’s long-running and hugely successful nighttime soap, “Dallas.”


Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy “I Dream of Jeannie,” Hagman earned his greatest stardom with J.R. The CBS serial drama about the Ewing family and those in their orbit aired from April 1978 to May 1991, and broke viewing records with its “Who shot J.R.?” 1980 cliffhanger that left unclear if Hagman’s character was dead.












The actor, who returned as J.R. in a new edition of “Dallas” this year, had a long history of health problems and died Friday due to complications from his battle with cancer, his family said.


“Larry was back in his beloved hometown of Dallas, re-enacting the iconic role he loved the most. Larry’s family and closest friends had joined him in Dallas for the Thanksgiving holiday,” the family said in a statement that was provided to The Associated Press by Warner Bros., producer of the show.


The 81-year-old actor was surrounded by friends and family before he passed peacefully, “just as he’d wished for,” the statement said.


Linda Gray, his on-screen wife and later ex-wife in the original series and the sequel, was among those with Hagman in his final moments in a Dallas hospital, said her publicist, Jeffrey Lane.


“He brought joy to everyone he knew. He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest,” the actress said.


Years before “Dallas,” Hagman had gained TV fame on “I Dream of Jeannie,” in which he played an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.


Eden recalled late Friday shooting the series’ pilot “in the frigid cold” on a Malibu beach.


“From that day, for five more years, Larry was the center of so many fun, wild and sometimes crazy times. And in retrospect, memorable moments that will remain in my heart forever,” Eden said.


Hagman also starred in two short-lived sitcoms, “The Good Life” (NBC, 1971-72) and “Here We Go Again” (ABC, 1973). His film work included well-regarded performances in “The Group,” ”Harry and Tonto” and “Primary Colors.”


But it was Hagman’s masterful portrayal of J.R. that brought him the most fame. And the “Who shot J.R.?” story twist fueled international speculation and millions of dollars in betting-parlor wagers. It also helped give the series a place in ratings history.


When the answer was revealed in a November 1980 episode, an average 41 million U.S. viewers tuned in to make “Dallas” one of the most-watched entertainment shows of all time, trailing only the “MASH” finale in 1983 with 50 million viewers.


It was J.R.’s sister-in-law, Kristin (Mary Crosby) who plugged him — he had made her pregnant, then threatened to frame her as a prostitute unless she left town — but others had equal motivation.


Hagman played Ewing as a bottomless well of corruption with a charming grin: a business cheat and a faithless husband who tried to get his alcoholic wife, Sue Ellen (Gray), institutionalized.


“I know what I want on J.R.’s tombstone,” Hagman said in 1988. “It should say: ‘Here lies upright citizen J.R. Ewing. This is the only deal he ever lost.’”


On Friday night, Victoria Principal, who co-starred in the original series, recalled Hagman as “bigger than life, on-screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him.”


Ten episodes of the new edition of “Dallas” aired this past summer and proved a hit for TNT. Filming was in progress on the sixth episode of season two, which is set to begin airing Jan. 28, the network said.


There was no immediate comment from Warner or TNT on how the series would deal with Hagman’s loss.


In 2006, he did a guest shot on FX’s drama series “Nip/Tuck,” playing a macho business mogul. He also got new exposure in recent years with the DVD releases of “I Dream of Jeannie” and “Dallas.”


The Fort Worth, Texas, native was the son of singer-actress Mary Martin, who starred in such classics as “South Pacific” and “Peter Pan.” Martin was still in her teens when he was born in 1931 during her marriage to attorney Ben Hagman.


As a youngster, Hagman gained a reputation for mischief-making as he was bumped from one private school to another. He made a stab at New York theater in the early 1950s, then served in the Air Force from 1952-56 in England.


While there, he met and married young Swedish designer Maj Axelsson. The couple had two children, Preston and Heidi, and were longtime residents of the Malibu beach colony that is home to many celebrities.


Hagman returned to acting and found work in the theater and in such TV series as “The U.S. Steel Hour,” ”The Defenders” and “Sea Hunt.” His first continuing role was as lawyer Ed Gibson on the daytime serial “The Edge of Night” (1961-63).


He called his 2001 memoir “Hello Darlin’: Tall (and Absolutely True) Tales about My Life.”


“I didn’t put anything in that I thought was going to hurt someone or compromise them in any way,” he told The Associated Press at the time.


Hagman was diagnosed in 1992 with cirrhosis of the liver and acknowledged that he had drank heavily for years. In 1995, a malignant tumor was discovered on his liver and he underwent a transplant.


After his transplant, he became an advocate for organ donation and volunteered at a hospital to help frightened patients.


“I counsel, encourage, meet them when they come in for their operations, and after,” he said in 1996. “I try to offer some solace, like ‘Don’t be afraid, it will be a little uncomfortable for a brief time, but you’ll be OK.’ “


He also was an anti-smoking activist who took part in “Great American Smoke-Out” campaigns.


Funeral plans were not immediately announced.


“I can honestly say that we’ve lost not just a great actor, not just a television icon, but an element of pure Americana,” Eden said in her statement Friday night. “Goodbye, Larry. There was no one like you before and there will never be anyone like you again.”


___


Associated Press writers Erin Gartner in Chicago and Shaya Mohajer in Los Angeles, and AP Television Writer Frazier Moore in New York contributed to this report.


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Nine arrests in Walmart protest, business still brisk












CHICAGO (Reuters) – Nine people were arrested near a Walmart store in California on Friday as part of national protests for the rights of hourly workers, even as the world’s largest retailer enjoyed what it said was its best ever start to the holiday shopping rush.


Hundreds of protesters, including some Walmart workers who skipped their shifts on the retail industry’s busiest day, spoke, chanted and sang outside of Walmart stores around the United States, making pleas for higher wages and better healthcare for Walmart hourly workers.












OUR Walmart, an organization backed by the United Food & Commercial Workers (UFCW) union, said it counted 1,000 protests in 46 U.S. states, including strikes in 100 cities – figures that Walmart said were “grossly exaggerated.”


There was no evidence that such activity disrupted what appeared to be a strong start for Wal-Mart Stores Inc to the crucial holiday shopping season.


The arrest of nine people in Paramount, California, who told law enforcement they intended to be arrested, occurred at around 12 p.m. local time (3 p.m. ET), well after the rush of specials that kicked off at 8 p.m. the night before and culminated with a 5 a.m. round of deals on “Black Friday,” the unofficial start of the holiday shopping season.


Nine people, who refused to leave the street, were peacefully arrested for refusal to disperse, said Captain Mike Parker of the Los Angeles County Sheriff’s Department. Three of those arrested were striking Walmart workers, OUR Walmart said.


Other demonstrations were smaller and less disruptive. At a Walmart on Chicago‘s South side, just one employee from the store’s nearly 500 staff took part in the demonstration, according to Walmart. There, four busloads of protesters marched outside and were not stopped by police or security guards.


Many of the demonstrators were not Walmart workers, but were supporters such as Candice Justice, a retired teacher who stood with dozens of others in Chicago on Friday morning.


Walmart said it was aware of a few dozen protests on Friday, and said the number of workers that missed scheduled shifts was “more than 60 percent less than Black Friday last year.”


The team organizing the protests disagreed.


“Right now there are hundreds and hundreds currently on strike,” Dan Schlademan, director of Making Change at Walmart, a campaign anchored by the UFCW, said on Friday afternoon. He said he could not provide a specific number of striking workers.


‘SAM WALTON WAS A GOOD MAN’


Walmart said five workers of the 250 scheduled to work at the Paramount, California store skipped shifts on Friday, while OUR Walmart said 18 did so.


One shopper leaving the store with his girlfriend said that the protest might deter him from shopping at Walmart again.


“We need to put ourselves in their shoes. I probably won’t shop here; I don’t think they should take advantage of workers,” said Joe Tegue, a 30-year-old contractor.


For its part, Walmart said it recorded its best Black Friday events ever, with more shoppers than last year and nearly 10 million register transactions between 8 p.m. Thursday and 12 a.m. Friday. It said it sold more than 1.8 million towels, 1.3 million TVs and some 250,000 bicycles.


Shares of Bentonville, Arkansas-based Wal-Mart rose 1.9 percent to $ 70.20 on Friday, outpacing the gains in the broader stock market during a shortened trading session.


Rosetta Brown, who has been with the company for 15 years and works at the Sam’s Club in Cicero, Illinois, joined the protest and lamented how employees are treated now compared with the era of company founder Sam Walton.


“Sam Walton was a good man … Walmart passed away with him,” she said. Walton opened the first Walmart store in 1962 and died in 1992.


The Chicago worker who protested, Tyrone Robinson, said he earns $ 8.95 an hour working in the produce department, and that his shifts have been cut back to less than 40 hours per week.


Wal-Mart filed an unfair labor practice charge against the UFCW with the National Labor Relations Board last week in a bid to thwart the protests. Days later, OUR Walmart filed its own charge with the NLRB, saying the retailer was illegally attempting to deter workers from participating in strikes.


More allegations of violations are expected to be filed with the NLRB in the coming days, Schlademan said.


The NLRB regional office completed its investigation on Wednesday and submitted a report for further legal analysis, NLRB Director of Public Affairs Nancy Cleeland said on Friday.


“We don’t expect to have any announcements or decision today or during the weekend,” she said.


(Additional reporting by Dana Feldman in Paramount, Calif., David Morgan in Washington and Jon Nielsen in Dallas,; writing by Ben Berkowitz; editing by Jeffrey Benkoe, Matthew Lewis and Bob Burgdorfer)


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Bank of Canada keeps “over time” condition on rate hike
















OTTAWA (Reuters) – Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank‘s message that interest rate increases will likely be needed, but only over time.


The “over time” phrase was introduced in the bank’s key guidance in its rate statement on October 23 as a way of signaling that while the next rate move is likely to be up, such a move was less imminent than it had been.













“Over time, some gradual withdrawal of monetary policy stimulus will likely be required, consistent with achieving the inflation-control target,” Lane said, according to a prepared presentation he was giving on Wednesday in Moncton, New Brunswick.


Another part of the presentation, which was posted on the central bank’s website, noted: “The Canadian economy continues to operate with a small amount of excess supply.”


The Bank of Canada is alone in the Group of Seven leading industrialized countries in signaling an intention to raise rates despite expectations of modest and unbalanced global growth.


Lane forecast “very robust growth” in emerging markets, stagnation in Europe and significant dampening of U.S. growth due to fiscal consolidation. He said Canada‘s real gross domestic product was still expected to grow at a moderate pace.


(Reporting by Randall Palmer; Editing by Jeffrey Hodgson; and Peter Galloway)


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Infections linked to tainted steroid injections nears 500 cases
















NASHVILLE, Tennessee (Reuters) – A deadly outbreak of infections linked to tainted steroid injections is approaching 500 cases nearly two months after it began, and health experts said on Wednesday it was unclear whether the epidemic had peaked amid new risks facing patients.


Many patients initially stricken with fungal meningitis are developing secondary infections, prompting a renewed effort to contact people who received the injections, said health officials in Tennessee and Michigan, the two hardest-hit states.













The outbreak, first detected in Nashville, Tennessee, in September, has stricken at least 490 people in 19 states, with 34 deaths, according to the U.S. Centers for Disease Control and Prevention in Atlanta.


“I wouldn’t want to characterize the epidemic as having reached a peak or (say) that we are over the worst part,” Dr. J. Todd Weber, the CDC‘s incident manager, said on Tuesday.


Weber said many patients face weeks to months of additional treatment, more people may get sick, and there is more to learn about the infections to ensure the best care for those stricken.


The CDC has estimated that 14,000 patients received potentially tainted steroids believed to have been prepared in unsanitary conditions by a Massachusetts-based compounding pharmacy and shipped to customers in 23 states from May to September.


The rate of infection, based on 500 cases out of 14,000 people exposed mainly through injections to relieve back and joint pain, has been about 3.5 percent so far, somewhat lower than the 5 percent rate Tennessee first forecast, Weber said.


Tennessee was the epicenter of the outbreak early on and through Wednesday had reported 84 infections, including 13 deaths. Michigan through Wednesday had reported 64 meningitis cases and 91 incidences of epidural abscesses among a total of 164 patients, a number of whom had both.


Most of the early cases were of meningitis, but reports more recently have been of abscesses at the injection sites, many times in patients already being treated for meningitis, officials in Michigan and Tennessee said on Wednesday.


INCUBATION TIME UNCERTAIN


That makes it hard to determine how long the outbreak of steroid-related infections might yet last, officials said.


“These are presenting well into the course and I don’t think with the epidural abscess that we’ve been able to establish a real concrete incubation time,” said Jim Collins, director of the Michigan health department’s communicable disease division.


Tennessee has seen 49 patients with localized infections, most of whom also had fungal meningitis, Dr. John Dreyzehner, the state’s health commissioner, said on Wednesday.


“While these infections are not as serious as meningitis, they need to be identified and treated to prevent them from becoming a more significant health problem,” Dreyzehner said.


Dr. Robert Latham, chief of medicine and director of the infectious diseases program at Nashville’s St. Thomas Hospital, echoed Weber’s words of caution about the outbreak.


“Because this is an ever-evolving situation, we still don’t know how long patients will need treatment and when we’ll really see the end,” said Latham, who said he has spent some time with all 45 patients the hospital has treated in the outbreak.


St. Thomas Hospital was hit with an early influx of patients and was the first facility where doctors began to realize something had gone horribly wrong with medications from the New England Compounding Center.


Healthcare officials first predicted the outbreak would run its course in roughly six weeks, based on the incubation period initially estimated for the meningitis infections.


That six-week period passed in early November, and the number of cases being reported to state health agencies and the CDC has slowed “but it has not stopped,” the CDC’s Weber said.


Some patients have seen quick onset or much longer incubation periods, so doctors and patients have been warned to keep a close watch for at least several months.


(Additional reporting by David Bailey in Minneapolis; Editing by Steve Gorman and Todd Eastham)


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Chevy Chase is leaving NBC’s sitcom ‘Community’
















LOS ANGELES (AP) — The NBC series “Community” will finish the season without Chevy Chase.


Sony Pictures Television said Wednesday that the actor is leaving the sitcom by mutual agreement with producers.













His immediate departure means he won’t be included in the last episode or two of the show’s 13-episode season, which is still in production.


Chase had a rocky tenure playing a bored and wealthy man who enrolls in community college. The actor publicly expressed unhappiness at working on a sitcom and feuded last year with the show’s creator and former executive producer, Dan Harmon.


The fourth-season premiere of “Community” is Feb. 7, when it makes a delayed return to the 8 p.m. EST Thursday time slot. The show’s ensemble cast includes Joel McHale and Donald Glover.


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Global shares rally on brighter global economic outlook
















LONDON (Reuters) – World share markets extended a week-long rally on Thursday as manufacturing surveys in China and the United States boosted confidence over the growth outlook and euro zone data was not as weak as some had feared.


The single currency also touched a two-week high against the dollar, despite data indicating the euro zone’s economy is on course for its deepest downturn since early 2009, on renewed optimism of a deal emerging to provide aid payments to Greece.













“The driving factors behind euro/dollar are that the global macroeconomic backdrop seems to be improving and people are pricing out the tail risk on Greece,” said Arne Lohmann Rasmussen, head of currency research at Danske Bank.


The euro rose 0.3 percent to $ 1.2869, its highest level since November 7.


The prospects of a deal to help Athens were boosted when German Chancellor Angela Merkel said on Wednesday after the failure of overnight talks that an agreement was possible when euro zone ministers meet again on Monday.


The likelihood of a deal, combined with better economic data and a growing view that a resolution can be found to the U.S. fiscal crisis lifted the MSCI’s world equity index 0.3 percent to 325.75 points, putting it on track for its best week since mid-September.


Europe’s FTSE Eurofirst 300 index rose 0.4 percent to a two-week high of 1,101.90 points, with London’s FTSE 100, Paris’s CAC-40 and Frankfurt’s DAX between 0.3 and 0.7 percent higher.


However, trading across all markets was subdued, with U.S. markets closed for the Thanksgiving holiday.


CHINA BOOST


Confidence in the global economic outlook got its biggest lift from the HSBC flash Manufacturing Purchasing Managers Index (PMI) for China, which pointed to expansion after seven consecutive quarters of slowdown.


“There have been a lot of concerns regarding the outlook for global growth. In this context, any improvement in Chinese data is welcome, given that investors are still risk averse,” said Robert Parkes, equity strategist at HSBC Securities.


The Chinese data followed an report on Wednesday showing U.S. manufacturing grew in November at its quickest pace in five months, indicating strong economic growth in the fourth quarter.


PMI data on the manufacturing and services sectors in Europe’s two biggest economies of Germany and France added to the better tone, revealing that conditions had not worsened in November, though both economies are still contracting.


However, the PMI numbers for the wider euro zone remain extremely weak, pointing to the recession-hit region shrinking by about 0.5 percent in the current quarter – its sharpest contraction since the first quarter of 2009.


BOND DEMAND


Amid the improving appetite for riskier assets, Spain sold 3.88 billion euros ($ 4.97 billion) of new government bonds on Thursday, though it has already raised enough funds for this year’s needs.


The average yield on the three-year bonds in the auction was 3.617 percent, compared with 3.66 percent at a sale earlier in November and a 2012 average of 3.79 percent.


Ten-year Spanish yields were 6 basis points lower on the day at 5.67 percent, having traded above 6 percent at the start of the week.


German 10-year bonds yields, which tend to rise as investors’ anxiety over the euro zone outlook ease, were up slightly at 1.439 percent.


COMMODITIES STEADY


Commodity prices gained some support form the improving outlook for world demand from all the PMI data, but prospects of only modest global growth in 2013 kept gains in check.


London copper rose 0.6 percent to $ 7,740 a metric tonne, and spot gold inched up to $ 1,730 an ounce.


Brent crude oil dipped under $ 111 per barrel as a ceasefire between Israel and Gaza’s Hamas rulers eased concerns over the impact the unrest may have on supply from the region.


Brent slipped 34 cents to $ 110.52 a barrel, while U.S. crude was steady at $ 87.38.


(Reporting by Richard Hubbard; Editing by Will Waterman)


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Greek PM presses for deal on loan
















ATHENS, Greece (AP) — Greece has reacted with dismay to the European Union‘s failure to agree to release vital rescue loan funds for the debt-ridden country, with the prime minister warning it was not just Greece’s future that hangs in the balance.


The delay prolongs uncertainty over the future of Greece, which faces a messy default that would threaten the entire euro currency used by 17 EU nations.













Prime Minister Antonis Samaras stressed that Greece has done what its creditors from the EU and International Monetary Fund required. “Our partners, along with the IMF, also must do what they have committed to doing,” he said.


He said that “it is not just the future of our country, but the stability of the entire eurozone” that depend on the success of negotiations in coming days.


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