MARKETS / FINANCE

Production at Gold Fields Ltd.'s Cerro Corona gold mine in Peru has not been affected by a nearby protest against another large mining venture, the South African company said Monday.

U.S. derivatives market CME Group will allow international investors to use China's currency as collateral when trading futures contracts, starting next month.

Oil prices ratcheted up on Monday morning on concerns that tension between Iran and Western countries could lead to an oil distribution disruption and a potential shortage.

Stock index futures pointed to a higher open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.8-0.9 percent.

Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering on Monday at the mid-point of a pre-set range, following U.S.-based rival Zynga in settling for a more conservative valuation amid tough stock market conditions.

Crisis-hit Franco-Belgian bank Dexia has secured temporary financing guarantees from Belgium, France and Luxembourg to keep it running while the countries cement the bailout they put together in October.

Gold prices barely moved Monday, as weak physical buying and easing investor interest offset anticipation of good economic news from the U.S. and hope that this week's big European meeting aimed at solving the debt crisis will not disappoint.

French President Nicolas Sarkozy and German Chancellor Angela Merkel meet in Paris on Monday under pressure to align their positions on centralizing control of euro zone budgets to stem a debt crisis that threatens Europe's currency union.

Franco-Belgian financial services group Dexia has provisionally secured temporary guarantees from Belgium, France and Luxembourg to cover its financing, which dried up before its second state bailout was agreed in October.

World stocks rose and demand for German government bonds slipped on Monday as confidence grew European leaders would make big strides in solving the euro zone's debt crisis at a crucial summit this week.

Asian shares and the euro steadied on Monday on hopes European leaders would agree on a definitive plan to solve the euro zone's debt crisis at a crucial summit this week, with sentiment also getting a lift from Italy unveiling austerity steps.

Gold prices traded steady Monday, after posting their sharpest weekly rise in more than a month, as the eurozone kicks off a week packed with meetings and decisions crucial to the solution to its debt crisis as well as the euro.

China's new bank loans in 2012 may increase slightly from this year's quota of 7.5 trillion yuan ($1.18 trillion), but the government will maintain lending curbs on the property sector, the China Business News reported on Monday, citing an official from the China Banking Regulatory Commission .

China's services sector contracted in November, mirroring similar weakness in the country's giant manufacturing sector and underlining expectations that Beijing can ease monetary policy further to cushion the blows of the global economy.

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Some big Japanese shareholders in disgraced firm Olympus Corp may support ex-CEO Michael Woodford's campaign to return to the helm -- a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach.

Failure by European leaders at their summit this week to fix the fatal flaw in the euro zone, its lack of political union, would risk tremendous market upheaval, a rupture of the common currency and global economic fallout.

The euro faces a decisive week as European Union leaders, urged on anxiously by the United States, seek agreement on a convincing rescue plan that has eluded them for two years.

JPMorgan Chase & Co is arranging the 1-billion-euro ($1.34 billion) loan that SAP AG is taking on to help pay for its $3.4 billion takeover of SuccessFactors, SAP co-Chief Executive Bill McDermott told Reuters.

Citigroup Inc is discussing a plan to shuffle Asian managers to reassure Japanese regulators as they prepare to sanction the bank for alleged lapses in disclosure related to the sale of financial products, the Wall Street Journal reported, citing people familiar with the situation.

Germany is prepared to soften language in the euro zone's permanent bailout mechanism compelling bondholders to accept losses in exchange for much stricter budget rules, four sources have told Reuters.

Prime Minister Mario Monti unveiled a 30-billion-euro package of austerity measures on Sunday -- increasing value added tax, reintroducing a property tax, and raising the pension age -- in a drive to gain control of Italy's strained public finances.

Prime Minister Mario Monti accelerated plans on Sunday to approve a 20 billion-euro austerity package aimed at shoring up Italy's strained finances and stemming a crisis that threatens to overwhelm the euro zone.

The euro faces a decisive week as European Union leaders, urged on anxiously by the United States, seek agreement on the definitive rescue plan that has eluded them for two years.

Austrian Chancellor Werner Faymann backs changes to the European Union treaty that would create a political and economic powerhouse even at the cost of relinquishing some national sovereignty, he told a Sunday newspaper.

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The spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy.

Dec 3 - Germany's SAP announced a $3.4 billion cash deal to buy U.S. web-based software company SuccessFactors, joining the scramble among technology firms to offer cloud-computing services to businesses.

Italian Prime Minister Mario Monti met party leaders Saturday to drum up support for new measures designed to shore up public finances, helping growth and calming the debt crisis in the euro zone's third-largest economy.