Wednesday, August 27, 2014

Today's Headlines

Bloomberg:
  • Putin’s Good Cop Claim Hollow in Kiev as Rebels Widen War. Hours after Vladimir Putin hailed “positive” talks over the war in Ukraine, new accusations of Russian aggression were already being voiced in Kiev. While the Russian president reiterated a pledge early today to do all he can to bring peace to the war-torn Donetsk and Luhansk regions, officials in Ukraine said he was doing just the opposite. Russian soldiers have joined rebel fighters in mounting a counterattack, opening a new front against Ukrainian troops who are being shelled “intensively” from across the border, military spokesman Andriy Lysenko said. The pattern has become a familiar one: Putin annexed the Black Sea peninsula of Crimea after saying he had no intension of doing so; a promise in Switzerland to help bring the separatists to heel preceded more intense fighting. The aim is to muddy the waters and reduce the risk of more penalties from the U.S. and Europe, according to Otilia Dhand, an analyst at Teneo Intelligence in London who specializes in eastern Europe.
  • French Manufacturing Confidence Falls to 13-Month Low. French factory confidence fell to the lowest in 13 months in August, adding to signs that the economy may struggle to grow after a stagnant first half. A manufacturing-sentiment index slipped to 96, the lowest since July 2013, from 97 the previous month, the French national statistics office INSEE said today in Paris. That matched the median forecast of economists in a Bloomberg News survey. A separate business-confidence index also declined. 
  • European Stocks Little Changed as Telecom Italia Gains. European stocks were little changed, following their biggest two-day advance since April, as signs of progress in talks between Russia and Ukraine offset worse-than-projected German confidence data. Telecom Italia SpA gained 3.2 percent after Brazil’s Oi SA said it may buy an $8 billion stake in Tim Participacoes SA, a group company of Telecom Italia. Portugal Telecom SGPS SA, which is merging with Oi, jumped 6.3 percent. Asos Plc rallied the most in a decade amid takeover speculation. Marine Harvest ASA (MHG) dropped 2.7 percent after posting an unexpected quarterly loss. United Utilities Group Plc fell 1.3 percent after analysts downgraded the U.K.’s largest publicly traded water company. The Stoxx Europe 600 Index added 0.1 percent to 343.33 at close of trading, reaching a one-month high.
  • Nickel Retreats as European Growth Concerns Dim Outlook. Nickel for delivery in three months declined 0.5 percent to settle at $18,850 a metric ton at 5:50 p.m. on the London Metal Exchange.
CNBC:
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