FXCM set to sell FXCMPro – LeapRate Exclusive

LeapRate Exclusive… LeapRate has learned that embattled retail forex broker FXCM Inc (NYSE:FXCM) is very close to effecting a sale of its institutional brokerage arm FXCMPro.
M&A discussions around FXCMPro began virtually immediately after FXCM received a $300 million lifeline from Leucadia National Corp (NYSE:LUK) just under two weeks ago. FXCM stated at the time that it intended to sell non-core assets to help repay the loan from Leucadia. We (and most in the industry) understood ‘non-core assets’ to mean that everything will go except FXCM’s core retail forex brokerage franchise.
Another Leucadia company, investment banking firm Jefferies LLC, is acting as adviser and doing most of the work in finding a buyer for FXCMPro.

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Asia Pacific Market: Stocks fall on profit booking, weak offshore cues

Asia Pacific share market ended down on Thursday, 29 January 2015, as participants' locked-in recent gains in bluechip stocks after the US Federal Reserve unexpectedly lifted its view on the economy, signaling that the US central bank remains firmly on track with plans to raise interest rates this year.
The MSCI Asia Pacific Index lost 1.1% to 140.79. Key benchmark indices in New Zealand, Japan, Taiwan, South Korea, China, Hong Kong, and Malaysia and fell by 0.54% to 1.31% while Singapore Strait Times ended steady.
Among major regional bourses
Australia market rises for sixth straight session
The Australian share market ended higher, registering sixth session of consecutive rise, as gains in utilities, financial, material and consumer goods stocks were more than offset by losses in energy, technology, and bullion counters. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both rose by 0.3% to 5569.50 and 5532.20, respectively.
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Finance and retail stock drive share market gains, but Aussie dollar loses ground

The local share market has risen despite falls for other key markets around the globe, but it has been a different story for the Australian dollar.

Having risen a full cent against the greenback yesterday after the release of official inflation data, the local currency has lost all that ground and more.
Most of the fall came as local currency traders clocked on this morning, though the Aussie slipped further this afternoon to around 78.7 US cents at 5:00pm (AEDT).
The stock market began today's session lower after significant overnight losses on Wall Street, but bounced back despite similar falls on Asian markets.
The All Ordinaries index closed up 16 points or 0.3 per cent at 5,532.

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UPDATE 2-Nomura's quarterly profit boosted by strong share market

* Q3 profit Y70 bln yen vs Y39.5 bln analyst view
* Retail pretax income Y50.5 bln, strongest in six quarters
* Fixed income falls, overseas ops post loss (adds analyst comments, recasts)
TOKYO, Jan 29 (Reuters) - Nomura Holdings Inc reported a 45 percent rise in third-quarter net profits on Thursday, the biggest jump in its quarterly profits in a year, thanks to a strong performance by its retail equity business.
Nomura, Japan's largest investment bank and brokerage, has benefited along with nearest rival Daiwa Securities Group Inc from a renewed appetite for equities which propelled the Nikkei index to a 7-1/2 year high in the period.

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Daily FX Trading Update: Japanese Inflation Figures Fall Short – Jan 30, 2015

The US dollar was able to advance against most of its FX trading counterparts when risk aversion extended its stay in the currency market. Traders are also increasing their long dollar bets after the FOMC retained its hawkish bias earlier this week. Data from the US economy was mixed, as the initial jobless claims showed a better than expected 265K reading versus the projected 301K figure while the pending home sales report marked a 3.7% decline. For today, the US advanced GDP reading is due and another strong figure might lead to more gains for the dollar. Analysts are expecting to see a 3.0% growth figure for Q4.

The euro recovered slightly in recent FX trading, despite weaker than expected data from Germany. The preliminary CPI showed a 1.0% decline instead of the projected 0.8% drop while the unemployment change report showed a mere 9K drop in joblessness. Apart from that, the previous month’s reading was downgraded to show a smaller decline in unemployment. German retail sales and French consumer spending figures are up for release today, with the former likely to show a 0.4% gain and the latter to print a 0.3% uptick. Also up for release are the Spanish flash GDP and CPI figures, along with the euro zone CPI flash estimates.

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Three months on, fruitless CEO search overshadows Sanofi

PARIS (Reuters) - Barring a last-minute breakthrough, drugs firm Sanofi's Chairman Serge Weinberg may have to acknowledge in his results presentation next week that the hunt for a new chief executive is not going well.
At least three potential candidates in a narrow field have turned their back on the job heading France's largest company.
The manner of Chris Viehbacher's shock dismissal three months ago, and the surprisingly small pay-off he won last week, have cast a long shadow over the process.
"I think it is going to take time," said a source close to the company. "What we risk missing in the meantime is a strategic vision that you cannot have without a deep knowledge of the pharmaceuticals sector."
Last week Christophe Weber, the French chief operating officer of Japan's Takeda Pharmaceutical Co, told Reuters he had rejected an approach.
Paris-schooled Olivier Bohuon, chief executive of British medical devices maker Smith & Nephew, told staff in November he had no plans to leave, and in the same month, former Wyeth boss Bernard Poussot joined the board of Sanofi's rival Roche.
AstraZeneca Chief Executive Pascal Soriot, another prominent French pharma executive, has played down any interest by saying he sees himself as more Australian than French.
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Gold regains ground as dollar softens, U.S. data ahead

Gold prices rose on Friday, easing off two-week lows hit after upbeat U.S. jobless claims data and the Federal Reserve's most recent policy statement, while investors eyed the release of additional U.S. economic reports due later in the day.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were up 0.46% to $1,262.10.
The April contract ended Thursday's session 2.43% lower at $1,255.90 an ounce.
Gold futures dropped after the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits decreased by 43,000 to 265,000 last week. Analysts had expected initial jobless claims to decline by 8,000 to 300,000 last week.

The upbeat data added to optimism over the strength of the economy and fuelled expectations that the Federal Reserve will begin to raise rates sooner than previously thought.
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