ECONOMY & MARKETS

Swiss drug maker Roche said its investigational drug for advanced skin cancer - RG7204 - showed significant survival benefit in a late stage study.

The BSE Sensex nudged up 0.2 percent on Wednesday powered by metal producers on firm world metal prices, but trading was choppy reflecting investor concern about inflation and a looming rate rise.

Hong Kong stocks are set to rise on Wednesday following a higher close on Wall Street which was supported by commodity-related counters and strong earnings from technology bellwethers Apple (AAPL.O) and IBM (IBM.N).

A trade delegation from China will sign agreements in Chicago on Thursday to buy an unspecified amount of U.S. soybeans, the U.S. Soybean Export Council said in a statement.

U.S. stocks climbed modestly higher, despite some negative developments with market behemoths Apple Inc. (Nasdaq: AAPL) and Citigroup (NYSE: C).

Ordinary American citizens can for the first time invest in the yuan, China's currency, through Bank of China's branches in the U.S.

Ghana's stock exchange expects at least four new listings this year, including a local float by oil group Tullow Plc, and predicts that inflows of new pension funds will boost trading volumes.

Egyptian Trade Minister Rachid Mohamed Rachid said on Tuesday that Egypt had adequate wheat stocks and had not changed the pace at which it was buying the grain.

Angola's much-delayed stock market will not open this year as many of the country's companies do not meet the requirements needed to participate on a bourse, the government said.

Ghana is still making preparations to launch a second Eurobond originally due in 2010, Finance Minister Kwabena Duffuor said on Tuesday, stressing that market conditions were not behind the delay.

Uganda's 2010 sugar production rose slightly on a year earlier but fell short of forecasts, hit by technical problems at the leading producer and poor rains, an industry association said on Tuesday.

German precious metals refinery group Heraeus reports massive demand for bars and coins, even as ETF trust funds and Comex futures contracts saw considerable profit-taking driven liquidations by institutional traders.

As Apple shares are plunging due to Steve Jobs' renewed health concerns, some Street analysts think it is a good buying opportunity to accumulate shares.

Manufacturing activity in the New York State expanded in January with the corresponding index posting its second consecutive positive reading.

The top pre-market NASDAQ stock market gainers are: ARIAD Pharmaceuticals, Datalink, Sterling Bancshares, China XD Plastics and Ku6 Media. The top pre-market NASDAQ stock market losers are: Apple, Avago Technologies, Cypress Semiconductor, NVIDIA and ASML Holdings.

Gilts and short sterling futures slid on Tuesday after data showed UK consumer price inflation rose faster than forecast in December, fuelling concerns the Bank of England may be forced to raise interest rates sooner than expected.

The companies that reported earnings before the markets opened on Tuesday are: Citigroup, Forest Laboratories, Comerica, Delta Air Lines and TD Ameritrade.

The People’s Bank of China could hike interest rates in the first quarter of the year, an adviser to the central bank said on Tuesday.

China's key stock index closed up 0.1 percent, supported by a key technical level and better-than-expected earnings from two banks.

China faces growing challenges in managing its foreign exchange reserves -- the world's largest at $2.85 trillion, the country's foreign exchange regulator said in remarks published on Tuesday.

Mid-cap banks are likely to report another strong quarter of healthy profits in Oct-Dec on robust credit growth, but stressed liquidity in a rising interest rate environment could obstruct growth going forward.

China has emerged as a world leader in the manufacture of solar photovoltaic technology, and could soon be the largest supplier of wind turbines, thanks in part to state laws and directives that reward renewable energy equipment companies with cash and tax perks.

South Korea's Hana Financial Group Inc (086790.KS) has formed a strategic tie-up with China Merchants Bank Co Ltd (600036.SS), Hana said on Tuesday.

Gary Shiller said 46 percent of the $805-billion stimulus money given out was saved.

Apple Inc. (Nasdaq: AAPL) shares plunged on German stock exchanges today after it was reported that Chairman Steve Jobs would take another leave of absence, fuelling worries about the potential length of his absence and the extent of his health issues.

Algeria bought 600,000 tonnes of wheat, traders said on Monday, snapping up grain at a time of high prices and tight supply even as neighbouring countries take measures to head off Tunisia-style unrest over food inflation.

Ratings agency Fitch raised South Africa's outlook to stable from negative on Monday, saying its recovery in 2010 after a recession the year before had outpaced expectations.

South African stocks fell on Monday, snapping a four-day advance, with paint company Freeworld Coatings sliding 4 percent after saying a proposed takeover bid by Japan's Kansai Paint was unfair to shareholders.

Steve Jobs, the CEO of Apple Inc. (AAPL), has taken medical leave to focus on his health. In his absence, Chief Operating Officer Tim Cook will be responsible for day to day operations.