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UPDATE 1-Louis Dreyfus IPO unlikely in short term - sources
* Group raised $2 bln in energy assets sale this year* Private investor more likely than IPO - sourceBy Gus Trompiz and Sybille de La HamaidePARIS/LONDON, Oct 17 (Reuters) - Commodities firm Louis Dreyfus is not envisaging a listing of its trading unit in the short term but is still considering options to raise capital, leaning towards a private investor, sources familiar with the situation said on Monday.The Financial Times reported on Monday that the French company had hired bankers to look at a listing of its commodities trading arm, or a partial sale to a sovereign wealth fund.But two sources with direct knowledge of the Louis Dreyfus situation said there was nothing new."There is no rush; the company has been private for 150 years so there is no specific timing" for changing the share holding structure," one source said, asking not to be identified.Louis Dreyfus has been in a state of flux since former head Robert Louis-Dreyfus died in 2009. He left his 59 percent majority stake to a trust, and made a commitment that his heirs would buy out minority shareholders from 2012.Group chairman Margarita Louis-Dreyfus confirmed in March she was holding talks with the company's minority shareholders about a stock market listing, a merger or bringing in a private investor to fund future projects.PRIVATE INVESTORBut the liquidity needs of Louis Dreyfus dropped significantly earlier this year after it sold around $2 billion in energy and "several hundred millions" in real estate assets, a source close to the company said."The group is rich with quite a lot of cash; it is less and less urgent that Louis Dreyfus Commodities supplies the cash," another source close to the matter said, pegging the remaining amount to buy out the other shareholders at less than $1 billion.With lower cash needs, the group, which has always promoted discretion, could favor a deal with another private operator."A private investor is less unlikely that an IPO," the source close to the company said.Louis Dreyfus competes for dominance of agricultural commodities trading with Archer Daniels Midland Co , Bunge Ltd and Cargill Inc.Its Louis Dreyfus Commodities branch generated some $46 billion in net sales last year and more than $1 billion consolidated net profit, the company said.Merger talks between Louis Dreyfus and smaller Singaporean rival Olam International Ltd failed this year. It also was reported to have held merger talks with other rivals, including Glencore International Plc .
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UPDATE 1-Louis Dreyfus IPO unlikely in short term - sources
* Group raised $2 bln in energy assets sale this year* Private investor more likely than IPO - sourceBy Gus Trompiz and Sybille de La HamaidePARIS/LONDON, Oct 17 (Reuters) - Commodities firm Louis Dreyfus is not envisaging a listing of its trading unit in the short term but is still considering options to raise capital, leaning towards a private investor, sources familiar with the situation said on Monday.The Financial Times reported on Monday that the French company had hired bankers to look at a listing of its commodities trading arm, or a partial sale to a sovereign wealth fund.But two sources with direct knowledge of the Louis Dreyfus situation said there was nothing new."There is no rush; the company has been private for 150 years so there is no specific timing" for changing the share holding structure," one source said, asking not to be identified.Louis Dreyfus has been in a state of flux since former head Robert Louis-Dreyfus died in 2009. He left his 59 percent majority stake to a trust, and made a commitment that his heirs would buy out minority shareholders from 2012.Group chairman Margarita Louis-Dreyfus confirmed in March she was holding talks with the company's minority shareholders about a stock market listing, a merger or bringing in a private investor to fund future projects.PRIVATE INVESTORBut the liquidity needs of Louis Dreyfus dropped significantly earlier this year after it sold around $2 billion in energy and "several hundred millions" in real estate assets, a source close to the company said."The group is rich with quite a lot of cash; it is less and less urgent that Louis Dreyfus Commodities supplies the cash," another source close to the matter said, pegging the remaining amount to buy out the other shareholders at less than $1 billion.With lower cash needs, the group, which has always promoted discretion, could favor a deal with another private operator."A private investor is less unlikely that an IPO," the source close to the company said.Louis Dreyfus competes for dominance of agricultural commodities trading with Archer Daniels Midland Co , Bunge Ltd and Cargill Inc.Its Louis Dreyfus Commodities branch generated some $46 billion in net sales last year and more than $1 billion consolidated net profit, the company said.Merger talks between Louis Dreyfus and smaller Singaporean rival Olam International Ltd failed this year. It also was reported to have held merger talks with other rivals, including Glencore International Plc .
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Miners lead FTSE higher after China data, G20 eyed
* Banks climb as ministers meet in Paris to discuss debt woesBy David BrettLONDON, Oct 14 (Reuters) - Britain's top share index rebounded on Friday as investors took positions ahead of a G20 finance ministers' meeting in Paris to discuss Europe's debt problems and after data from China fanned demand hopes in the region.Traders viewed the softening of inflation as a sign that the Chinese government would be unlikely to tighten its monetary policy further, thereby lifting some worries over the demand outlook from the world's most voracious consumer of raw materials."While the Chinese authorities have made it clear that inflation remains the focal point of central bank policy, the prevailing pressures (slowing growth, euro zone debt) suggest the time is drawing near for policy easing either in the form of a reduction in reserve requirement ratios or cuts in interest rates or both," said Mike Lenhoff, chief strategist at Brewin Dolphin.Miners and integrated oil stocks rose sharply along with base metals and crude oil .Xstrata was the top performer among miners, rising 3.5 percent.One of its major shareholders, Glencore International , lost l 4. percent to become the top FTSE 100 faller, with traders citing talk that Goldman Sachs was undertaking a secondary placing of a $175 million convertible bond for the commodities trader.Banks rose, but their gains were overshadowed by those of the mining sector, after several factors combined to take some of the wind out of their sails.Fitch downgraded Swiss bank UBS and threatened to cut seven other European and U.S. banks, while Standard and Poor's cut Spain by one notch to AA-minus, although that only brought its rating into line with rival agency Fitch. .The euro zone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat.French and German officials are trying to put flesh on the bones of a crisis resolution plan in time for an EU summit on Oct. 23."If investors are expecting a 'bazooka'-style resolution to the crisis they will be in for a disappointment, and are likely to react strongly if they don't get one," said Lothar Mentel, chief investment officer at Octopus Investments, which manages $3.9 billion.Britain's benchmark index rose 38.92 points, or 0.7 percent to 5,442.30 by 1111 GMT in thin trade, rebounding from a 0.7 percent decline on Thursday.The FTSE continued to struggle to break and hold above the 5,450 level. The index has sold off sharply from this level over the past few months."In order to tackle the 5,600 level the FTSE will need to close above 5,445 for at least three days," Sandy Jadeja, chief technical analyst at City Index, said."The flipside is that the resistance level may push the index lower again as it has done in the past. 5,340 would be the level to keep an eye on."Among individual stocks, Severn Trent fell 1.2 percent, underperforming a rising FTSE 100 , weighed by an HSBC rating downgrade on the water company to "underweight" from "neutral" on valuation grounds.On the macro economic front no British data is released on Friday, so investors' economic focus will be across the Atlantic.U.S. stock index futures pointed to a higher open for equities on Wall Street on Friday, ahead of the September U.S. retail sales due at 1230 GMT, with a 0.7 percent monthly rise forecast after being flat in August. U.S. September import and export prices were due at the same time.
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Royal backs ex-partner Hollande in French primary
"We must give impetus to the candidate with a clear lead that will not leave the right any foothold," Royal said.Her move came as a second poll showed Hollande, a moderate left-winger, remains in the lead by several points to be picked as the Socialist candidate for the 2012 presidential election.Hollande's victory over Aubry, a stauncher leftist who helped bring in France's 35-hour work week, looks less certain since hardline leftist Arnaud Montebourg landed in third place in the first round with a stronger than expected 17 percent, suggesting strong support for his more radical ideas.In the first poll of second-round voting plans since then, an Opinionway survey of left-wing voters on Tuesday showed Hollande's predicted score slipped four points to 54 percent while Aubry's rose four points to 46 percent.A second survey on Wednesday by Harris Interactive found 53 percent of left-wing voters would back Hollande in the second round of the Socialist primary on Sunday against 47 percent for his rival Martine Aubry, a more old-school leftist.Hollande and Royal separated in 2007, shortly after Royal lost that year's presidential election to conservative Nicolas Sarkozy, following a 29-year relationship that made them the golden couple of the French left.Montebourg, whose support could be a deciding factor in Sunday's primary runoff, has said he is waiting until after a final TV debate between Hollande and Aubry on Wednesday evening before deciding which candidate to back.
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Infosys Q2 net rises 10.7 pct, roughly in line with f'cast
A Reuters poll of brokerages had forecast a profit of 18.91 billion rupees for the company, which counts Goldman Sachs , BT Group and BP among its main clients.India's $76 billion showpiece IT sector, which feeds off increased outsourcing by companies looking to cut costs, is expected to face pricing pressure and a decline in new orders due to a struggling global economy.Infosys, worth about $29 billion, has lost more than a quarter of its market value this year, versus a 25 percent fall in the sector index and a 19 percent fall in the Mumbai index .
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