New York headlines

* Chinese economy grows 8.1% in Q1

* Infosys beats expectations; shares sink

* North Korea confirms rocket failure

* Syria enters a ‘fragile’ truce

* Latin America top choice for emerging private equity-survey

* Myanmar looks to develop capital markets

* India challenges US over steel duties

* ECB has serious concern about Hungary central-bank independence

* BG in sale talks over Brazil gas distributor

* Cambodia May Lure Up to 10 IPOs a Year, Korea Bourse Says

* Markets: mixed

Chinese economy grows 8.1% in Q1
China’s economy grew 8.1 per cent in the first quarter from a year earlier, its slowest pace in nearly three years, the FT reports. With Europe struggling and the US recovery appearing to ebb, signs of strength from China, the world’s second-largest economy, could still help allay fears of a global slowdown.

http://www.ft.com/intl/cms/s/0/c5a36124-8508-11e1-a3c5-00144feab49a.html

Infosys beats expectations; shares sink
Shares in Infosys, India’s second-largest software maker, fell sharply on Friday after it gave weak guidance for the coming year. The shares lost as much as 11 per cent in early trading – despite the fact that company profits in the last quarter beat expectations, reports beyondbrics.

http://blogs.ft.com/beyond-brics/2012/04/13/infosys-beats-expectations-shares-sink/

North Korea confirms rocket failure
North Korea has confirmed that the long-range rocket it launched on Friday failed to send a satellite into orbit, after the US and South Korea said the missile blew apart early into flight, the FT reports.

http://www.ft.com/intl/cms/s/0/46b2c194-8444-11e1-9d54-00144feab49a.html

Syria enters a ‘fragile’ truce
Syrian troops halted their withering offensive on opposition areas as a truce went into effect Thursday, but the United Nations said Damascus hadn’t yet fully complied by pulling its troops and weapons from the nation’s towns and cities, the WSJ reports.

http://online.wsj.com/article/SB10001424052702304444604577338991337433310.html

Latin America top choice for emerging private equity-survey
Latin America, excluding Brazil, has overtaken that country to become the number one destination for emerging market private equity investors over the next year, as they prefer Mexico, Colombia and Peru, according to a survey released on Friday, reports Reuters.

http://www.reuters.com/article/2012/04/13/emerging-private-equity-embargoed-idUSL6E8FC3C420120413

Myanmar looks to develop capital markets
Myanmar will take its first steps to develop its capital markets after enlisting the help of the Tokyo Stock Exchange and Daiwa Securities to develop a securities exchange, the FT reports.

http://www.ft.com/intl/cms/s/0/0b6b77e8-84b7-11e1-a3c5-00144feab49a.html

India challenges US over steel duties
India has launched a trade dispute against the US at the World Trade Organisation over duties on its steel products, escalating trade tensions between the two countries.The move marks the latest chapter in an outbreak of litigiousness pitting India and the US against each other at the global trade body – which could raise concerns about a souring of their economic relations, the FT reports.

http://www.ft.com/intl/cms/s/0/c3469666-84b9-11e1-a3c5-00144feab49a.html

ECB has serious concern about Hungary central-bank independence
The European Central Bank said it has “serious concerns” about the independence of the Hungarian monetary-policy authority even after the government amended legislation to meet conditions to start bailout talks, Bloomberg reports.

http://www.bloomberg.com/news/2012-04-12/ecb-has-serious-concern-about-hungary-central-bank-independence.html

BG in sale talks over Brazil gas distributor
BG Group is in talks with Cosan, Royal Dutch Shell’s Brazilian partner, to sell its 60 per cent stake in the country’s largest gas distributor in a deal estimated to be worth more than $1bn, the FT reports.

http://www.ft.com/intl/cms/s/0/87eeb5ec-84bb-11e1-a3c5-00144feab49a.html

Cambodia May Lure Up to 10 IPOs a Year, Korea Bourse Says
Cambodia’s stock market, which is set to open next week after several delays, may be able to lure five-to-10 initial public offerings a year, according to Korea Exchange Inc., the Cambodian government’s partner in the bourse, reports Bloomberg.

http://www.bloomberg.com/news/2012-04-12/cambodia-may-lure-up-to-10-ipos-a-year-korea-bourse-says.html

Emerging Markets
MSCI Emerging Market Index up +0.76% at 1,033

Europe
FTSE up -0.43% at 5,686
RTS up +0.31% at 1,625
Warsaw Wig down -0.22% at 40,965
FTSE 300 Eurotop down -0.65% at 1,037

Americas
DJIA up +1.41% at 12,987
S&P 500 up +1.38% at 1,388
Bovespa unchanged 0.00% at 63,058

Asia
Nikkei 225 up +1.19% at 9,638
Topix up +0.69% at 815.48
Hang Seng up +1.84% at 20,701
Shanghai Composite up +0.35% at 2,359
MSCI Asia ex-Japan up +1.21% at 519.77
S&P CNX Nifty Index down -1.32% at 5,207

Currencies
€/$ 1.31 (1.32)
$/¥ 80.90 (80.88)

Commodities
Brent Crude (ICE) down -0.21 at 121.50
Light Crude (Nymex) down -0.46 at 103.18
100 Oz Gold (Comex) down -9.70 at 1,670