MARKETS / FINANCE

Retail investors are keeping a floor on prices for gold, silver and platinum with their increasing purchases of shares of exchange-traded products (ETPs) backed by precious metals.

German Chancellor Angela Merkel said on Monday that Europe could be living through its toughest hour since World War Two as new leaders in Italy and Greece rushed to form governments and limit the damage from the euro zone debt crisis.

Warren Buffett, often mentioned as a potential savior for troubled European banks, said on Monday that he has no interest at the moment in investing in the sector, and that there is what amounts to a partial run on Europe.

Chancellor Angela Merkel said on Monday that Europe must move step-by-step toward political union, calling the euro zone debt crisis the continent's toughest hour since World War Two.

Chemicals company BioAmber Inc filed with U.S. regulators to raise up to $150 million in an initial public offering of common shares.

U.S. Silver Corp.'s third-quarter profit skyrocketed on higher silver prices, the Toronto-based company said Monday.

Mizuho will cut 3,000 jobs as Japanese banks battle weak demand for credit at home and a tough global growth environment, which saw half-year profits at the lender and smaller rival Sumitomo Mitsui fall by a quarter.

Brigus Gold Corp. swung to a profit in the third quarter as higher prices offset lower production, the Halifax, Nova Scotia-based miner said Monday.

Lonmin, the world's third-largest platinum producer, beat expectations with a 59 percent jump in full-year earnings, even though a strike at its Karee operations drove up unit costs and forced the miner to cut its output target.

U.S. stock index futures fell on Monday as Italy and Greece rushed to form technocrat-led governments in a bid to stave of the euro zone's debt crisis, and as data showed the region is facing a looming recession.

Harmony Gold , South Africa's third-largest gold producer, said on Monday it had received a number of enquiries and proposals from parties interested in acquiring its assets in Papua New Guinea, but it was not ready to sell.

Miners in Africa's top copper producer Zambia may have to scale down in the face of a move to raise royalties by the new government of President Michael Sata, the general manager of the country's chamber of mines said on Monday.

Gold prices fell Monday on tentative optimism the sovereign debts of Italy and Greece can be managed without crashing Europe's banking system.

Berkshire Hathaway has accumulated a 5.5 percent stake in IBM, Warren Buffett said on Monday, his biggest bet on the technology field that he has historically shunned.

Stock index futures fell on Monday after strong gains going into the weekend and as Italy and Greece rushed to form technocrat-led governments in a bid to stave of the euro zone's debt crisis.

Technocrat leaders in Italy and Greece rushed to form governments as they sought to limit the damage from the euro zone debt crisis on Monday, and the euro climbed on relief that a key Italian bond auction drew decent demand from investors.

The world's top planemakers issued bullish forecasts for sales from the Middle East on Monday, underlining the region's importance to the industry a day after Boeing unveiled a blockbuster deal to sell 777 jetliners to host airline Emirates.

Mitsubishi UFJ Financial Group said on Monday its net profit jumped 95.1 percent in the April-September first half, boosted by a hefty one-time gain from its stake in Morgan Stanley , and raised its full-year profit forecast.

Gold traders in India stayed away from fresh physical buying as futures prices extended gains to near last week's peak.

Mizuho Financial Group maintained its full-year net profit forecast on Monday after reporting that first-half profit fell 25.4 percent, weighed down by the absence of hefty bond trading gains that lifted its profits the previous year.

Financial markets on Monday greeted the appointments of technocratic leaders in euro zone debt hot spots Italy and Greece with cautious optimism, boosting stocks.

U.S. airlines have opposed the U.S. government's subsidies to debt-laden Indian state carrier Air India for its purchase of Boeing aircraft, the Wall Street Journal reported on Monday.

Asian stocks rose on Monday and the euro edged up on hopes that new technocratic leaders in Italy and Greece will take decisive action to save their indebted nations from bankruptcy and fend off a wider financial meltdown in the euro zone.

Tell me how this ends, U.S. General David Petraeus asked memorably of the 2003 invasion of Iraq.

Japan's economy rebounded from an earthquake-triggered recession in the third quarter by expanding 1.5 percent, a pace that is likely to slow down though as a strong yen and weak global growth darken the outlook.

Japan's economy rebounded as expected in the third quarter from a recession triggered by a devastating March earthquake on robust exports and consumption, but persistent yen strength and sluggish global growth cloud its outlook.

Asia-Pacific leaders sought a united front on Sunday to prop up economic growth despite divisions over trade and currency policies as they face a common threat from Europe's debt crisis.

Canada wants to join talks on a proposed U.S.-led free trade agreement in the Asia-Pacific region that also may open its membership to Japan, Canadian Prime Minister Stephen Harper said on Sunday.

The United States is ramping up attempts to safeguard its financial system from a worsening of Europe's debt crisis, joining nations in Asia, Latin America and elsewhere in trying to build firewalls.