London headlines

* Asian stocks outside Japan fall as talks continue on Greek aid

* Argentina angry at hedge fund court win

* Rothschild raises $270million as investors join Bumi proposal

* China to subsidise rare earths producers

* Oil heads for third weekly gain on mideast concern, US supply

* South Africa holds key rate as weak rand prevents stimulus

* South Korea warns on won volatility

* Thai billionaire extends F&N offer deadline after OUE bid

* Markets: up

Asian stocks outside Japan fall as talks continue on Greek aid
Asian stocks outside Japan fell, with a regional gauge heading for its first decline this week, as European officials continue to work on an updated aid package for Greece.
http://bloom.bg/Qyd0vx

Argentina angry at hedge fund court win
Argentina has angrily criticised a US court decision that has awarded hedge fund creditors more than $1.3bn as “a kind of legal colonialism”.
http://on.ft.com/TSgdk4

Rothschild raises $270million as investors join Bumi proposal
Nathaniel Rothschild, who quit the board of London-listed Bumi Plc last month, has raised $270 million for a proposal to the coal producer that would see it sever ties with shareholders including Indonesia’s Bakrie family, Rosan Roeslani and Chairman Samin Tan.
http://www.bloomberg.com/news/2012-11-22/rothschild-raises-270-million-to-fund-bumi-split-from-bakries.html

China to subsidise rare earths producers
China has changed tack on its rare earths policy amid fears that its hard line on producers threatens its dominance of the global market for the 17 key substances found in everything from smartphones to guided missiles.
http://on.ft.com/Tja8AU

Oil heads for third weekly gain on mideast concern, US supply
Oil headed for a third weekly gain in New York after fighting in Gaza renewed concern about the threat to Middle East supplies and U.S. crude stockpiles unexpectedly dropped.
http://bloom.bg/QdBj0g

South Africa holds key rate as weak rand prevents stimulus
South Africa’s Reserve Bank kept its benchmark interest rate unchanged at 5 per cent for a second meeting as a weak rand and rising food and fuel prices prevented policy makers from stimulating the economy.
http://bloom.bg/Ti8DUC

South Korea warns on won volatility
The South Korean government is considering tightening restrictions on currency trading by banks due to fears the won’s rapid appreciation could threaten financial stability.
http://on.ft.com/SZidHU

Thai billionaire extends F&N offer deadline after OUE bid
Thai billionaire Charoen Sirivadhanabhakdi extended a deadline to December 11 for an offer to gain control of Singapore’s Fraser & Neave after a group led by Overseas Union Enterprise topped the bid last week.
http://bloom.bg/U14DFt

Emerging Markets
MSCI Emerging Market Index up +0.03% at 985.99

Americas
DJIA up +0.38% at 12,837
S&P 500 up +0.23% at 1,391
Bovespa up +0.35% at 56,437

Asia
Nikkei 225 up +1.56% at 9,367
Topix up +1.23% at 776.43
Hang Seng unchanged 0.00% at 21,743
Shanghai Composite unchanged 0.00% at 2,016
MSCI Asia ex-Japan up +0.14% at 517.20
S&P CNX Nifty Index up +0.23% at 5,628

Currencies
€/$ 1.29 (1.29)
$/¥ 82.37 (82.43)

Commodities
Brent Crude (ICE) down -0.25 at 110.30
Light Crude (Nymex) down -0.45 at 86.93
100 Oz Gold (Comex) up +3.30 at 1,728