London headlines

* BP to sell TNK-BP stake to Rosneft

* Canada blocks Petronas bid for Progress

* Qtel eyes Vivendi’s Maroc Telecom stake

* Petronas rejection casts doubt on Cnooc $15.1bn bid

* Jindal Steel nears $2bn mine purchase in West Africa

* Beirut anti-Syria rally ends in clashes

* Markets: mixed

BP to sell TNK-BP stake to Rosneft
BP’s board has approved a $27bn deal with the Russian state oil company Rosneft to sell its stake in TNK-BP which should seal the UK energy group’s future in Russia for decades to come, the FT reports.
http://www.ft.com/intl/cms/s/0/c56800c6-1b70-11e2-ab87-00144feabdc0.html

Canada blocks Petronas bid for Progress
Canada intends to block the planned $5.3bn acquisition of Calgary-based Progress Energy Resources by Petronas of Malaysia, its industry minister said, throwing into doubt the country’s attitude to foreign takeovers, the FT reports.
http://www.ft.com/intl/cms/s/0/6b7803f8-1aae-11e2-b480-00144feabdc0.html?ftcamp=rss

Qtel eyes Vivendi’s Maroc Telecom stake
Qtel, the telecoms group controlled by Qatar, has expressed interest in Vivendi’s controlling stake in Morocco’s largest telecom operator, as the French group pushes forward with a wider strategic review, the FT reports.
http://www.ft.com/intl/cms/s/0/3fd21efe-1b77-11e2-ab87-00144feabdc0.html?ftcamp=rss

Petronas rejection casts doubt on Cnooc $15.1bn bid
Canada’s rejection of a bid by Malaysia’s state oil company for Progress Energy Resources Corp casts doubt on Beijing-based Cnooc Ltd.’s $15.1bn takeover of Nexen and raises questions about the openness of Prime Minister Stephen Harper’s government to foreign investment, Bloomberg reports.
http://www.bloomberg.com/news/2012-10-21/petronas-rejection-casts-doubt-on-cnooc-15-1-billion-bid.html

Jindal Steel nears $2bn mine purchase in West Africa
Jindal Steel & Power, India’s second-biggest steelmaker by value, is approaching an iron ore mine acquisition in West Africa for at least $2bn as it seeks raw material to feed its factories at home and in Oman, Bloomberg reports.
http://www.bloomberg.com/news/2012-10-19/jindal-steel-close-to-buying-2-billion-african-iron-ore-mine.html

Beirut anti-Syria rally ends in clashes
Gunfire rang out over central Beirut on Sunday after the funeral of an assassinated intelligence chief ended in clashes, the FT reports. The trouble left the Lebanese capital on edge as it awaits further fallout from a crisis widely seen as linked to the turmoil in neighbouring Syria.
http://www.ft.com/intl/cms/s/0/6ccfa43a-1b68-11e2-ab87-00144feabdc0.html

Emerging Markets
MSCI Emerging Market Index down -0.33% at 1,003

Americas
DJIA down -1.52% at 13,344
S&P 500 down -1.66% at 1,433
Bovespa down -1.36% at 58,922

Asia
Nikkei 225 down -0.81% at 8,930
Topix down -0.24% at 752.59
Hang Seng up +0.03% at 21,559
Shanghai Composite down -0.58% at 2,116
MSCI Asia ex-Japan down -0.38% at 518.06
S&P CNX Nifty Index unchanged 0.00% at 5,684

Currencies
€/$ 1.30 (1.30)
$/¥ 79.33 (79.33)

Commodities
Brent Crude (ICE) up +0.31 at 110.45
Light Crude (Nymex) up +0.26 at 90.31
100 Oz Gold (Comex) down -7.80 at 1,715