UPDATE 2-President says Zambia will not take over struggling copper mines *World Bank warns growth to fall below 4 pct in 2016. LUSAKA, Nov 26- Zambia will not take over mining firms that have shed jobs after a sharp fall in copper prices, President Edgar Lungu said on Thursday, backtracking from an earlier warning that the state would run the mines. Copper accounts for 70 percent of Zambia's export earnings, which have been further eroded by...
| By: Chris Mfula
European shares rise to three-month high in thin trade *Infineon soars after results, dividend beat expectations. MILAN/ LONDON, Nov 26- European shares hit fresh three-month highs on Thursday, rising in thin trade as expectations grew for aggressive European Central Bank action next week. A solid quarterly report from chipmaker Infineon and a rebound in metal prices also provided support.
| By: Danilo Masoni and Alistair Smout
FOREX-Euro slips as bets on deeper negative rates in ECB grow *Trading subdued with U.S. markets shut for Thanksgiving. LONDON, Nov 26- The euro hovered near seven-month lows against the dollar and lost ground against the yen on Thursday as investors bet against it, expecting the European Central Bank to ease monetary policy again next week. In the United States, investors squared positions on Wednesday before the...
| By: Anirban Nag
Oil eases on glut, production outlook Oil fell as concerns that escalating violence in the Middle East would disrupt supply faded, and the focus returned to a persistent market glut.
UPDATE 2-Turkish government moves to reassure investors on central bank independence ANKARA/ ISTANBUL, Nov 26- The Turkish government has no intention of curbing the independence of the central bank, officials said on Thursday, after the lira hit a two-week low on concerns about the new administration's plans. Fresh from an election win, Prime Minister Ahmet Davutoglu on Wednesday announced his ruling AK Party's platform in parliament, saying...
| By: Orhan Coskun and Behiye Selin Taner
INSIGHT-Bad Saudi PR fuels riyal devaluation talk DUBAI, Nov 26- Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom. Riyadh has the tools available to protect itself as low oil prices push the current account and budget balances of the world's top crude exporter deep into deficit, senior...
| By: Andrew Torchia
Private equity goes bargain-hunting in Norwegian oil sector STAVANGER/ OSLO, Norway, Nov 26- Private equity investors are buying up assets in Norway's crisis-hit oil sector, betting on a recovery in crude prices and cutting deals with energy firms whose focus is elsewhere and are happy to generate some cash. Russian billionaire Mikhail Fridman and Sam Laidlaw, former chief executive of British utility Centrica, are among...
| By: Stine Jacobsen and Gwladys Fouche