London headlines

* S Korean exports fall more than expected

* Official China PMI shows growth

* UN sanctions Congo rebels

* Posco in Canada deal

* S Korean legislature limits chain stores

* Chinese FDI in US rises 12 per cent

S Korean exports fall more than expected
Shipments fell 5.5 per cent in December to $45.1bn from year earlier, almost twice as much as economists’ expected, with the drop attributed in part to fewer working days. Imports declined 5.3 per cent to $43.1bn.
http://on.wsj.com/VvXn4g

Official China PMI shows growth
China’s official purchasing managers’ index for December, based on a survey of large state-owned companies, came in slightly below expectations at 50.6, unchanged from November. Output among automakers, textile, steel and electronics producers and food processors expanded.
http://reut.rs/VsTRuv

UN sanctions Congo rebels
A Security Council sanctions committee added M23, the Congo rebel army, and the Democratic Forces for the Liberation of Rwanda, a Hutu militia, to its blacklist for “killing and maiming, sexual violence and forced displacement” of civilians and other crimes in Congo.
http://bit.ly/12UGPcj

Posco in Canada deal
The South Korean steelmaker acquired a 15 per cent stake worth $1.1bn in ArcelorMittal Mines Canada.
http://bit.ly/VsWGf7

S Korean legislature limits chain stores
Large chain stores will be required to close between midnight and 10am and at least two days a month in a measure passed to help small shops.
http://bit.ly/S2E4Uu

Chinese FDI in US rises 12 per cent
A report by the Rhodium Grup counted $6.5bn in deals by Chinese companies, with oil and gas exploration and advanced manufacturing among the leading sectors of interest.
http://bit.ly/Vg5ouW

Emerging Markets
MSCI Emerging Market Index up +0.23% at 1,058

Americas
DJIA up +1.28% at 13,104
S&P 500 up +1.69% at 1,426
Bovespa up +0.89% at 60,952

Asia
Nikkei 225 up +0.70% at 10,395
Topix up +0.67% at 859.80
Hang Seng down -0.04% at 22,657
Shanghai Composite up +1.61% at 2,269
MSCI Asia ex-Japan up +0.22% at 548.90
S&P CNX Nifty Index up +0.76% at 5,950

Currencies
€/$ 1.32 (1.32)
$/¥ 86.69 (86.72)

Commodities
Brent Crude (ICE) up +0.65 at 111.27
Light Crude (Nymex) up +0.99 at 91.79
100 Oz Gold (Comex) up +22.20 at 1,677