(BFW) *POLISH REGULATOR SAYS TO RULE ON PKO-NORDEA TAKEOVER BY END-1Q

+------------------------------------------------------------------------------+

BN 12/30 10:15 *POLISH FINANCIAL MKTS REGULATOR JAKUBIAK SPEAKS IN WARSAW BN 12/30 10:14 *POLISH REGULATOR SAYS TO RULE ON PKO-NORDEA TAKEOVER BY END-1Q

+------------------------------------------------------------------------------+

*POLISH REGULATOR SAYS TO RULE ON PKO-NORDEA TAKEOVER BY END-1Q 2013-12-30 10:14:55.526 GMT

--DEBORAH HYDE

-0- Dec/30/2013 10:14 GMT

(BFW) Dana Petroleum Signs Two Exploration Agreements W/ Egyptian Govt

+------------------------------------------------------------------------------+

Dana Petroleum Signs Two Exploration Agreements W/ Egyptian Govt 2013-12-30 10:05:52.524 GMT

By Ola Galal Dec. 30 (Bloomberg) -- Dana commits to min. investments of $24m, Oil Ministry says in e-mailed statement. * Co. to drill 4 wells in Western Desert * Agreement stipulates signing bonus of $1m * NOTE: Egypt has signed 20 exploration agreements w/ intl companies w/ total min. investments of ~$698m and $120.5m in signing bonuses to drill 107 wells

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

To contact the reporter on this story: Ola Galal in Cairo at +20-461-8561 or ogalal@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net

(BFW) Faurecia Says Bond Conversion Allows EU205M Debt Reduction

+------------------------------------------------------------------------------+

ONE 12/30 09:27 FAURECIA: Successful early redemption of the OCEANE due January 1, 2015 BN 12/30 09:28 *FAURECIA: CONVERSION ALLOWS DEBT REDUCTION OF ABOUT EU205M BN 12/30 09:28 *FAURECIA: BONDHOLDER CONVERSION NEARLY UNANIMOUS BN 12/30 09:27 *FAURECIA: SUCCESSFUL EARLY REDEMPTION OF OCEANE DUE JAN. 1, '15

+------------------------------------------------------------------------------+

Faurecia Says Bond Conversion Allows EU205M Debt Reduction 2013-12-30 09:33:38.556 GMT

By David Whitehouse Dec. 30 (Bloomberg) -- Co. says holders of convertible bonds sold Nov. 26, 2009 and due Jan. 1, 2015 opted nearly unanimously for conversion into shares. * 99.83% of the bonds will be converted into 11,736,190 new Faurecia shares.

Link to Statement:{NSN MYM4XF3PR6RK <GO>} Link to Company News:{EO FP <Equity> CN <GO>}

For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}

To contact the editor responsible for this story: David Whitehouse at +33-1-5365-5059 or dwhitehouse1@bloomberg.net

>>> What you can trade on the next few days....

30/12:
Germany : Half day

31/12
Closed : Austria, Czech Republic, Denmark, Finland, Germany, Hungary, Ireland, Italy, Norway, Russia, Sweeden, Switzerland
Half Day : Belgium, France, Netherlands, Portugal, South Africa, Spain, UK

02/01
Closed : Russia, Switzerland

03/01
Closed : Russia
Half Day : Sweden

06/01
Closed : Austria, Cyprus, Finland, Greece, Poland, Sweden,

>>> Faroe Petroleum Announces spudding of the Centrica operated Butch East explo

Faroe Petroleum Announces spudding of the Centrica operated Butch East exploration well 8/10-5S (Faroe 15%), the first of two back-to back-wells in Licence PL405/PL405B
- Butch East, which is adjacent to the Company's 2011 Butch discovery, is situated in approximately 65 metres water depth in the Norwegian North Sea, close to significant existing infrastructure with the giant Ula field approximately seven kilometres to the north-west, Tambar approximately 10 kilometres to the south-west and Gyda approximately 20 kilometres to the south.

- The Centrica operated Butch Main discovery (Faroe 15%) was made in late 2011 and contains a significant presence of light crude oil in the Upper Jurassic reservoir of the Ula formation. Since the main Butch discovery was made, licence operator Centrica Energy Norway has acquired new high quality seismic data, which has been applied in the planning of two further exploration wells on the untested eastern and south-western sides of the large central Butch salt structure.

- The operator is currently working on a development plan for the Butch Main discovery, in parallel with drilling the Butch East and Butch South West wells.

>>> What to look at today

US Market ended strong week on Flat note this Friday, Oil & Materials did ok, Tech & Financial were lagging, TWTR Reverse Thu. Move after Mcquarie dwg (-13%) on 60mil shares traded (After +.478% on 82.7mil shres on thu)..VIX @ 12.46 +1.05%...Light volume @ 308mil shares on the Nyse...ECB Pres Draghi interviewed in German press over the weekend, reiterating the absence of evidence of deflation would keep the ECB on the sidelines with no further cuts to is main interest rate...Japanese press speculating Toyota's FY results would top estimates, helped by weaker yen rates than the ¥92-97 range conservatively estimated when the company last offered FY13/14 guidance...FT interview with IMF's Lipton noting Japan GDP would likely be upgraded for the coming year; Lipton saw the first arrow of Abenomics - monetary policy - delivering results in 2013, but also calling for the start of fiscal and structural changes as intended in the remaining "arrows"...Nikkei+0.69%
New tensions between Japan and China over disputed islands, pushed Chinese to make some agressives comments about Japanese aggressive expansionary monetary policy...Shanghai -0.05%...

Eur$ 1.3736 S&P Fut Flat European fut +0.26%

Keep an eye on :
- Italian Banks : Creditor banks have signed the final accord with holding company Carlo Tassara agreeing to restructure €2.0B debt, Tassara will sell all its stakes including 1.7% Intesa, 1.4% of UBI, 1.1% of Monte Paschi, 1.2% of Mediobanca, 2.5% of A2A, and 0.7%of Generali
- AF FP : Barron's Article on Air France, mentioning potential 25% upside potential
- AZA IM : Alitalia Investors to Meet Mid-Jan. on Board, By-Laws, MF Says
- BMPS IM : Paschi Capital Increase Delay May Lead to Alternative Plan: Sole
- BMPS IM : Monte Paschi Capital Increase Can’t Start Before May 12: Profumo
- BMPS IM : Monte Paschi's Profumo, Viola Should Stay, Mansi Tells Corriere
- BMW GY : CFO Eichiner said demand for i3 electric hatchback has been above expectations
- BOOHOO : U.K. Online Fashion Retailer Boohoo Plans GBP500m IPO, Mail Says
- BSS IM : Biesse Seeks Revenue Boost From Overseas Sales: Il Sole 24 Ore
- CAMELOT SS : Camelot CEO Receives 2.1m Pound Payout Through Unit, Times Says
- HEN3 GY : Henkel’s Rorsted Sees Few Acquisition Options, Handelsblatt Says
- HNR1 GY : Hannover Re’s Wallin Sees Falling Rates in 2014, Welt Reports
- LLOY LN : U.K. May Sell Remaining Lloyds Stake in 2014: Telegraph
- ROG VX : Roche CEO Schwan Says Oncology, Immunology Growing in Basel: SZ
- SAN FP : Sanofi Does Not Anticipate Lemtrada to be Approved by End March, Plans to Appeal FDA Decision
- SHBA SS : Handelsbanken May Open 15-20 New Danish Branches, Borsen Reports
- SIE GY : Siemens CEO Aims to Match Industry’s Capital Efficieny, FAS Says
- STL NO : Statoil Resumes Production at Statfjord A Platform: Reuters Link
- STMN SW : Straumann CEO Won’t Rule Out Large Acquisitions: NZZ am Sonntag
- UHR VX : Swatch Group CEO Says Heart of ETA Factory Damaged in Fire: AZ
- UNI IM : Unipol-Fondiaria Merger Deed to Be Signed by Year-End, Sole Says
- VOLVB SS : Volvo Cars to Recall About 31,000 S60 Sedans on Oil Monitoring
- VOW3 GY : Volkswagen Risks Losing EU2.2b Military Truck Deal, Spiegel Says
- VOW3 GY : CEO Winterkorn raised concerns about dispute between Man SE and Scania units - German PressThe official believes that the dispute could put a €2.2B contract at risk between Rheinmetall and Man.
- VPK NA : Announces expansion plan for Horizon Fujairah

FT : IMF’s Lipton says Japan on target but needs to show more success

The International Monetary Fund is likely to upgrade its growth forecast for Japan but fiscal and structural reforms must start in 2014, said top IMF official David Lipton in an interview with the Financial Times to mark the first year of “Abenomics”.
Mr Lipton, the powerful number two to IMF managing director Christine Lagarde, said monetary stimulus in the first year of Shinzo Abe’s premiership has already changed Japan’s economic trajectory and suggested that the fund could tolerate even more should it be needed.

“The first year was a year of opportunity for monetary policy and I think they hit the target and showed they were changing the trajectory for the economy,” said Mr Lipton. “The second year they have the opportunity to show that the second and third arrows are potent. It doesn’t mean they have to finish but they really have to start.”
Mr Abe came to power in December 2012 promising to turn Japan’s economy around after almost two decades of low growth by firing “three arrows” of monetary easing, fiscal stimulus and structural reform. Mr Lipton’s remarks suggest international policy makers will not object to the weakening of the yen as long as Japan makes progress on structural changes.
“The international community is supportive of Abenomics and has been very understanding of the fact that the first arrow of Abenomics has weakened the exchange rate substantially,” said Mr Lipton. So far, he said, the net effect of Mr Abe’s policies on the rest of the world is positive because of the boost to Japan’s growth. “We’ve not seen huge spillovers and what spillovers we have seen have been positive ones.”

Mr Lipton said that the Bank of Japan’s huge bond-buying programme, aimed at reaching 2 per cent inflation within about two years, was changing public expectations. “I think they have broken the negativism that people felt, the desperation people felt, the way that deflation or at best very low inflation had become widely expected,” he said.
“We would certainly be open to a strengthening of the policy if the circumstances warranted it, but right now we think they have the right policy from the monetary standpoint.”
They have broken the negativism that people felt, the desperation people felt, the way that deflation or at best very low inflation had become widely expected
He added that Japan should go ahead with an increase in consumption tax to 8 per cent next April and manage the impact via extra spending – which Tokyo is planning. “It is right that when you are carrying out reforms, including substantial tax policy changes, that you go ahead with the steps but you calibrate the impact to make sure you don’t undermine the incipient recovery.”
Falling salaries have raised concerns about the impact of the tax rise on a revival in consumer spending. Data on Friday showed that regular wages halted a 17-month decline in November, one positive sign for Mr Abe that companies may finally be heeding his calls to increase pay, key to creating a “virtuous circle” that spurs consumption and investment. But analysts said the outlook remained uncertain while the impact of the sales tax increase was unknown.


Jonathan Soble, Tokyo bureau chief, investigates the progress of Shinzo Abe’s plan to pull Japan’s economy out of its more than 15-year deflation
But he said it was crucial that Japan now start reforms to boost its potential to grow. “They have a lot more to do and there are risks. If they don’t complete Abenomics we don’t think it will succeed – it really does depend on all three arrows being shot.”
In particular, Mr Lipton called for measures to make it easier for women to participate in the jobs market – thus boosting potential growth and increasing the pool of taxpayers to help lower debt – and for Japan to sign up to the Trans-Pacific Partnership trade deal and the internal reforms that membership will require.
He said it would take years for Japan to tackle its high public debt but there was a path to do so. “What is within their grasp is to have a more dynamic economy with more rapid growth, and to show that by tackling the second and third arrows, sustained higher growth is possible,” said Mr Lipton. “Once that is established the worries about debt will diminish.”