By Rob Verdonck and Rita Nazareth - Oct 18, 2011 12:05 AM GMT+0900
BP Plc appreciated 5.5 percent after saying Anadarko Petroleum Corp. will pay $4 billion to settle all claims over the world’s largest accidental oil spill. Photographer: Jason Alden/Bloomberg
Oct. 17 (Bloomberg) -- Simon Derrick, chief currency strategist at Bank of New York Mellon Corp., talks about the outlook for the pound and euro. Derrick also discusses the prospect for a solution to the European sovereign debt crisis with Linzie Janis and David Tweed on Bloomberg Television's "First Look." (Source: Bloomberg)
Oct. 17 (Bloomberg) -- Carl Weinberg, founder and chief economist at High Frequency Economics, talks about German spokesman Steffen Seibert's remarks that the European debt crisis won't be fixed at an Oct. 23 summit and is likely to extend "well into next year." Weinberg speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)
Oct. 17 (Bloomberg) -- Andrew Freris, senior investment strategist for Asia at BNP Paribas Wealth Management, talks about global financial markets, economies, and Europe's sovereign debt crisis. Freris speaks in Hong Kong with Susan Li, Rishaad Salamat, Angie Lau, and John Dawson on Bloomberg Television's "Asia Edge." (Source: Bloomberg)
Oct. 17 (Bloomberg) -- Arnout Van Rijn, the chief investment officer for Robeco Groep NV's Hong Kong division, talks about Asian stock markets. Van Rijn also discusses Europe's sovereign debt crisis and China's economy. He speaks with Susan Li on Bloomberg Television's "First Up." (Excerpt. Source: Bloomberg)
Oct. 17 (Bloomberg) -- Mike Werner, a bank analyst at Sanford C. Bernstein & Co. in Hong Kong, talks about the Chinese banking industry. China’s state-run Central Huijin Investment started buying shares in the nation’s four biggest banks on Oct. 10 and plans to continue with "related market operations," according to a statement on its website. Werner speaks in Hong Kong with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Global stocks and the euro fell, retreating after their best weekly gains in more than two years, as Germany damped expectations for a fast resolution to Europe’s debt crisis and a report showed New York-area manufacturing shrank more than forecast.
The Standard & Poor’s 500 Index dropped 1.2 percent to 1,210.41 at 11:04 a.m. in New York as Wells Fargo & Co. tumbled after reporting a drop in revenue. The MSCI All-Country World Index slipped 0.7 percent following last week’s 5.4 percent rally. The euro, which strengthened 3.8 percent versus the dollar last week, weakened 0.8 percent against the U.S. currency today. Oil lost 0.5 percent at $86.33 a barrel in New York, reversing an earlier 1.6 percent advance.
