BRUSSELS — The 27 nations of the European Union on Monday increased pressure on Iran over its nuclear program by agreeing to ban oil imports.
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Monday, January 23, 2012
Investors probably will maintain their exposure to commodities, while they may seek more “active” strategies, according to Hermes BPK Partners LLP, a $2.3 billion advisory and fund of hedge funds manager.
The following are comments from Matteo Dante Perruccio, chief executive officer of Hermes BPK, which is owned by the BT Pension Scheme. He spoke by phone today in London following the company’s introduction of its $275 million Alpha Vault managed futures account, which invests in five Commodity Trading Advisors.
Nasdaq OMX Group Inc. (NDAQ), the U.S.-European exchange operator, is planning to hire staff in European derivatives clearing ahead of new clearing rules coming in this year. The exchange is planning to start clearing non-deliverable forward (NDF) currency trades in Europe, according to two people familiar with the matter. Nasdaq declined to comment. The move will put Nasdaq OMX in competition with incumbents LCH.Clearnet and CME Clearing Europe.
Currency Wars - EU Bans Iran from Trading Gold and Silver
Gold jumped to its highest in more than a month as result of the uncertainty over of the Greek debt outcome and the growing geopolitical tensions with Iran and the US and Nato countries. The Iranian geopolitical tension is supporting gold as Britain, America and France have delivered a clear message to Iran, sending six warships led by a 100,000 ton aircraft carrier through the highly sensitive Strait of Hormuz.
Natural Gas Futures Surge on Chesapeake Plans to Cut Production
Jan. 23 (Bloomberg) -- Natural gas, the worst-performing commodity this year, rebounded from a 10-year low in New York after Chesapeake Energy Corp., the second-largest U.S. producer, said it will cut production and reduce spending.
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