Gold near 1-month high, Tokyo futures dip

(Reuters) - Gold gained on a weak U.S. dollar on Wednesday and held near its highest level in a month hit the previous day, while Tokyo futures dipped on a firmer yen, which reduces the appeal of yen-based contracts.

Spot gold rose to $663.60/664.40 an ounce from $662.85/663.45 late in New York on Tuesday, when it rose as high as $664.80 an ounce on speculative buying ignited by the dollar's fall to a record low against the euro.


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China shares down as IPOs fuel supply worries

(Reuters) - Bank of Nanjing and Bank of Ningbo announced price ranges on Wednesday for their initial public equity offers, set to raise a combined total of up to 11.07 billion yuan .




Bank of Ningbo's debut would be the first major IPO listing on the Shenzhen bourse since the early 2000s.


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RTL, Liberty Reject Efforts by Copyright Agencies to Settle Dispute in EU

(Bloomberg) -- RTL Group SA, Deutsche Telekom AG,
Liberty Global Inc. and two dozen competitors asked European
Union regulators to reject an offer by national royalty-
collection agencies to settle an antitrust case.

The agencies, which collect performance and broadcast fees
on behalf of artists and composers, offered to drop some
restrictions on the licenses they sell to address EU concerns
they break competition rules. RTL, Europe's biggest broadcaster
and a unit of Germany's Bertelsmann AG, has complained that the
proposal is inadequate because key rights remain in the hands of
the 27 separate national groups.


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Hong Kong's Stocks Fall for First Time in Seven Days; China Mobile Slides

(Bloomberg) -- Hong Kong's stocks fell for the
first time in seven days as investors judged excessive a rally
that drove the Hang Seng Index to a record. China Mobile Ltd.
led the drop.

Shares also declined as profit warnings from U.S. retailers
heightened concern a weak housing market is hurting consumer
spending. Yue Yuen Industrial (Holdings) Ltd. slipped.


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Adidas, Bulgari, Ericsson and Royal Dutch Shell: European Equity Preview

(Bloomberg) -- The following stocks may rise or
fall in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 dropped 1.1 percent to 394.02. The
Dow Jones Stoxx 50 Index declined 1.3 percent to 3943.86. The
Euro Stoxx 50 Index, a benchmark for the 13 nations using the
euro, fell 1.2 percent to 4474.15.


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Jet Airways, Deccan Shares May Soar on `Oligopoly' Boosts India Air Fares

(Bloomberg) -- Mergers and buyouts are ending
India's cutthroat airline competition, and with it the 2-cent
ticket wars that lost the industry $500 million last year.

The carriers say rising fares will boost profits in an
aviation market set to be the world's fastest-growing through
2025, after Jet Airways (India) Ltd., the biggest domestic
airline, bought a rival and a competitor acquired a stake in
Deccan Aviation Ltd., the second-largest.


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Economists Split Over Probable Outcome of Bank of Korea Meeting Tomorrow

(Bloomberg) -- Economists are divided over whether
South Korea's central bank will raise its benchmark interest
rate for the first time in a year, as accelerating loan growth
threatens to spur inflation.

Bank of Korea will lift the overnight call rate target by a
quarter point to a six-year high of 4.75 percent, according to
eight of 15 economists surveyed by Bloomberg News. Seven expect
no change. The central bank's monetary board meets tomorrow at 9
a.m. in Seoul and announces a decision before 11 a.m.


Read more at Bloomberg Emerging Markets News