Stocks

Italy's MPS commits with EU to up to 400 mln euros in asset sales

Italy's MPS commits with EU to up to 400 mln euros in asset sales

MILAN, Oct 3 (Reuters) - New restructuring commitments agreed by Italy and the European Union over state-owned bank Monte dei Paschi di Siena (MPS) BMPS.MI include disposals worth up to 400 million euros ($391 million), a document showed on Monday. The text of the EU Commission's decision that extended an end-2021 deadline for Rome to sell its stake in the Tuscan bank also showed Italy had committed to keeping the management of its holdings in various state-owned banks separate.

Credit Suisse stuck in spotlight ahead of strategy shift

Credit Suisse stuck in spotlight ahead of strategy shift

ZURICH, Oct 3 (Reuters) - Credit Suisse CSGN.S saw sharp falls in its shares and bonds on Monday as markets put the bank under intense scrutiny. The Swiss bank has insisted its capital and liquidity are strong, saying it will have more to say about a strategic revamp when it releases third-quarter results on Oct. 27. WHY IS CREDIT SUISSE IN THE SPOTLIGHT?

Britain at 'significant risk' of gas shortages this winter, says regulator

Britain at 'significant risk' of gas shortages this winter, says regulator

(Updates with Ofgem comment) LONDON, Oct 3 (Reuters) - Britain faces a "significant risk" of gas shortages this winter and a possible emergency due to the conflict in Ukraine and limited supplies in Europe, the energy regulator has said. Although Russia only meets about 4% of Britain's gas needs, a disruption in supply to Europe has contributed to driving up British prices and makes it harder for Britain to secure gas from others.

EU approves German measure to support BASF production of renewable hydrogen

EU approves German measure to support BASF production of renewable hydrogen

BRUSSELS, Oct 3 (Reuters) - The European Commission on Monday approved a 134 million euro ($130.80 million) German measure to support BASF SE BASFn.DE in the production of renewable hydrogen, to help decarbonise its chemical production processes. "This 134 million euro measure enables Germany to help BASF step up its renewable hydrogen production capacities, thereby contributing to the greening of the chemical value chain and of the transport sector," EU antitrust chief Margrethe Vestager said i

Hungary's deferred payments to Gazprom for gas would be made over 3 years

Hungary's deferred payments to Gazprom for gas would be made over 3 years

BUDAPEST, Oct 3 (Reuters) - Hungarian state-owned energy group MVM has agreed with Russia's Gazprom GAZP.MM to defer its payments for gas purchases exceeding a certain threshold value, allowing Hungary to pay for the gas over three years if prices surge. "We agreed on a threshold value, and the part exceeding this we don't have to pay for now, but it goes into deferred payment," Development Minister Marton Nagy told Reuters.

Italy's MPS commits with EU to leasing, real estate sales

Italy's MPS commits with EU to leasing, real estate sales

MILAN, Oct 3 (Reuters) - New restructuring commitments agreed by Italy and the European Union over state-owned bank Monte dei Paschi di Siena BMPS.MI include disposals of leasing contracts and properties, a document showed on Monday. The text of the EU Commission's decision on the Tuscan bank also showed Rome had committed to keeping the management of its stakes in various state-owned banks separate.

Kremlin: U.S. raised LNG prices and sales after Nord Stream gas leaks

Kremlin: U.S. raised LNG prices and sales after Nord Stream gas leaks

* This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Oct 3 (Reuters) - Kremlin spokesman Dmitry Peskov said on Monday the United States had increased prices and sales of liquefied natural gas (LNG) after gas leaks in the undersea Nord Stream pipelines. A total of four leaks were discovered last month on the Nord Stream 1 and 2 pipelines in the Baltic Sea near Denmark and Sweden.

Central Europe's manufacturing strain reaches Hungary

Central Europe's manufacturing strain reaches Hungary

By Jason Hovet and Gergely Szakacs Oct 3 (Reuters) - Hungary's manufacturing activity shrank for the first time in 17 months in September, a survey showed on Monday, and output kept falling in the Czech Republic and Poland as high inflation and soaring energy costs sharpened their impact in central Europe. Hungary joined its central European peers in signalling a manufacturing contraction while Europe's energy crisis and decades-high inflation hit consumers and businesses alike.

Prices fall as higher Norwegian supply offsets cuts to Italy

Prices fall as higher Norwegian supply offsets cuts to Italy

LONDON, Oct 3 (Reuters) - Dutch and British wholesale gas prices fell on Monday as a rebound in Norwegian supply helped to ease concerns over Russian supply after Gazprom's decision to cut gas deliveries to Italy to zero. In the Dutch market, the day-ahead price TRNLTTFD1 was 12.55 euros lower at 150.95 euros per megawatt hour (MWh) by 0900 GMT, while the benchmark forward month contract TRNLTTFMc1 fell by 9.45 euros to 176.55 euros/MWh.

Major Gulf markets mixed in early trade; Saudi extends gains

Major Gulf markets mixed in early trade; Saudi extends gains

Oct 3 (Reuters) - Major stock markets in the Gulf were mixed in early trade on Monday, ahead of OPEC+'s monthly meet this week, with the Saudi index on course to extend gains for a fourth session. The benchmark index .TASI in Saudi Arabia advanced 1.1%, buoyed by a 1.5% rise in Al Rajhi Bank 1120.SE and a 1% increase in oil behemoth Saudi Aramco 2222.SE .

South African factory activity contracts in September- Absa PMI

South African factory activity contracts in September- Absa PMI

Oct 3 (Reuters) - South African manufacturing activity contracted in September as extensive power cuts weighed on production and new sales orders declined, a survey showed on Monday. The seasonally-adjusted Absa Purchasing Managers' Index (PMI) was at 48.2 points in September from 52.1 points in August, falling below the 50-point mark that separates expansion from contraction.

Taiwan won't take 'extreme steps' on stocks unless really necessary

Taiwan won't take 'extreme steps' on stocks unless really necessary

TAIPEI, Oct 3 (Reuters) - Taiwan will not take "extreme steps" to stabilise the falling stock market unless it is really necessary, the head of the island's financial regulator said on Monday. Taiwan's benchmark stock index .TWII is down 27% this year, hurt by fears over global inflation and slowing economic growth as well as soaring U.S. interest rates.