DONG Energy says reviewing future of oil & gas business
COPENHAGEN, Oct 26 Danish utility DONG Energy said on Wednesday it is reviewing strategic options for the future of its oil and gas business.
LONDON, April 19 Merger activity in the mining sector helped European shares stage a small rebound on Friday, but a regional benchmark recorded its worst weekly loss since November as the economic outlook deteriorated.
Kazakh miner Eurasian Natural Resources Corporation soared 26.2 percent after a co-founder and key shareholder in the group said he was looking to form a takeover bid consortium.
ENRC's stock topped the pan-European FTSEurofirst 300 index , which provisionally closed 0.5 percent higher at 1,152.56 points.
The index was down 2.5 percent for the week, which was marred by weaker economic data from Europe's growth powerhouse, Germany, as well as yet more forecast-lagging data from the United States.
M.M. Warburg has reduced its tactical allocation to European shares to a small underweight by selling futures on key indexes as well as shares in cyclical and financial sectors.
"If the trend in economic data goes on we might consider even going slightly underweight in total," Matthias Thiel, market strategist at Warburg, said.
* Stock jumps as much as 3.8 pct to highest in 14 months (Add details of results)
LONDON, Oct 26 The Australian dollar was an outperformer on Wednesday, bucking a broad risk averse environment in global markets, helped by a better-than-expected inflation reading that dented chances of an interest rate cut in the near term.