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UPDATE 5-Oil prices jump but weekly losses and physical excess loom

LONDON, Feb 12- Oil prices jumped on Friday on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates. Brent gained as much as 6 percent against its previous settlement and was up 4.9 percent at $31.53 per barrel at 0938 GMT. "The comments by the UAE oil minister are pushing prices up... but we're still in a...
Source: Reuters | By: Libby George
UPDATE 2-Rolls-Royce halves dividend after profit drop

*Final dividend 7.1 pence a share, first cut since 1992. LONDON, Feb 12- Rolls-Royce halved its final dividend to shore up its finances on Friday, the first cut for 24 years, after annual profit fell 16 percent and the company warned of continued tough trading in its civil aerospace and marine engine businesses. The British company said it would pay shareholders a...
Source: Reuters | By: Sarah Young
Bullion is your best bet in crazy markets, say experts

Investors should hold physical gold as a hedge in a market meltdown, some experts have advised, as equities continued their wild ride on Friday.
Source: CNBC.com | By: Saheli Roy Choudhury
Commerzbank boosts European shares off of 2-1/2 year lows

*FTSEurofirst 300 up 2 pct. LONDON, Feb 12- European shares rebounded strongly from the previous session's steep losses on Friday, with positive results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground. There's so much nervousness in the market at the moment that even slightly good news out of a bank like...
Source: Reuters | By: Alistair Smout
FOREX-Yen on track for strongest week since late 2008, Japan steps up rhetoric

LONDON, Feb 12- The yen was firm on Friday, on track for its biggest weekly rise against the dollar since late 2008, as deepening worries about global growth and whether policymakers have enough ammunition to respond to it underpinned flows into safe-haven currencies. Japanese officials stepped up their attempts to talk the yen down, with Finance Minister Taro...
Source: Reuters | By: Anirban Nag
Stocks higher as oil jumps 4%; banks, miners rally

European markets opened higher on Friday after getting hammered the day before as crude oil prices saw a rebound.
Source: CNBC.com | By: Arjun Kharpal
UPDATE 1-UK watchdog fines GSK $54 mln over 'pay-for-delay' drug deals

LONDON, Feb 12- Britain's competition body said on Friday it had fined GlaxoSmithKline 37.6 million pounds for market abuse in striking deals to delay the launch of cheap generic copies of its antidepressant Seroxat. Generic drug companies involved, including Germany's Merck KGaA, were also fined smaller amounts, bringing the total penalties to 45 million...
Source: Reuters | By: Ben Hirschler
PREVIEW-Japan's machinery orders to rise modestly, exports drop most in nearly 5 yrs

TOKYO, Feb 12- Japan's leading indicator of capital spending probably rebounded only modestly in December and exports likely dropped in January at its fastest pace in almost five years, a Reuters poll showed, indicating the pace of recovery may be slower than expected. This would result in a trade deficit of 680.2 billion yen after a 140 billion yen surplus in...
Source: Reuters
UPDATE 3-Oil prices jump almost 5 pct, but oversupply still damps outlook

SINGAPORE, Feb 12- Oil prices jumped almost 5 percent on Friday after comments by the energy minister of OPEC- member United Arab Emirates sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist. Friday's jump in Brent came after the United Arab Emirates energy minister Suhail bin...
Source: Reuters | By: Henning Gloystein
Indonesia warns messaging apps to drop same-sex emoticons

JAKARTA, Indonesia— Human Rights Watch on Friday urged Indonesian President Joko "Jokowi" Widodo to protect gay and lesbian rights, a day after his government told instant messaging apps to remove stickers featuring same-sex couples in the latest high-profile attempt to discourage visible homosexuality in the socially conservative country.
Source: The Associated Press | By: By NINIEK KARMINI, Associated Press