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Stock futures rise ahead of earnings, GDP data

Traders work on the floor of the NYSEThe U.S. Commerce Department issues the first estimate of GDP for the third quarter at 8:30 a.m. ET. The University of Michigan will release its final reading of the consumer sentiment index, which likely rose to 88.1 in October. While the Federal Reserve is not expected to raise rates at its policy meeting next week, analysts expect the central bank to offer more clues on a potential rate hike in December.

Hong Kong regulator probes UBS's role as sponsor of certain IPOs

Swiss bank UBS said Hong Kong's securities regulator is investigating its role as sponsor of certain unnamed stock market listings in the city, with the intention to start unspecified action against the bank and some of its employees. The disclosure by UBS, released with its third-quarter financial results, made it the first major bank to say it was being probed since Hong Kong's Securities and Futures Commission (SFC) introduced tougher rules for listing sponsors. The SFC's scope for action means UBS could face financial penalties, and may even be stripped of its ability to provide corporate finance advisory services in Hong Kong for a period of time.

Hong Kong regulators probe UBS on initial public offerings

HONG KONG (AP) ? Swiss bank UBS said Friday that Hong Kong regulators are investigating its work on some initial public offerings on the southern Chinese financial center's stock market.

China's CITIC Securities posts 23 pct fall in Q3 profit

SHANGHAI, Oct 28 (Reuters) - China's biggest brokerage,CITIC Securities Co Ltd , posted a 23percent drop in third-quarter earnings, hurt by falling fee andcommission income. Net profit for July through September fell to 2.70 billionyuan ($398.27 million) from 3.52 billion yuan a year earlier,the company said in a statement to the Shanghai stock exchange. Brokerages are more subdued about prospects for this yearafter the stock market slump last year, with many cutting coststo boost capital and expecting to take a hit from tougher marginfinance rules. ($1 = 6. ...

South Africa's Dis-Chem to raise up $359 million in JSE listing

People walk near the reception at the Johannesburg Stock Exchange in Sandton, JohannesburgSouth African drug retailer Dis-Chem plans to raise up to $359 million with a stock market listing, it said on Friday, to reduce debt and allow founders to recoup some of their investment. Founded by chief executive Ivan Saltzman and his wife Lynette, Dis-Chem will tap an uncertain equity market as it looks to take on larger rival Clicks Group and retailers Shoprite and Pick n Pay, which also have pharmaceutical retail operations. Dis-Chem said it would sell 238.4 million shares, equating to a 27.5 percent stake, at between 16.25 rand and 20.25 rand, valuing the company at as much as 20 billion rand ($1.44 billion).

Drugmaker Sanofi hungry for deals after earnings beat

A logo is seen in front of the entrance at the headquarters of French drugmaker Sanofi in ParisFrench drugmaker Sanofi stepped up its overhaul on Friday, putting its European generic drugs business up for sale and saying that a planned 3.5 billion euro (3 billion pounds) share buyback would not suppress its appetite for deals. Sanofi's announcement came as it posted better than expected earnings and lifted its profit guidance for the year on strong growth at its biotech arm Genzyme and an early start to the U.S. flu vaccine season. Sanofi now expects 2016 adjusted earnings per share to grow by 3 percent to 5 percent at constant exchange rates, having previously said they would be broadly flat.

Asia markets end week on low but Tokyo up on weak yen

Japanese stocks have risen on a weaker yen as another feeble inflation reading puts fresh pressure on TokyoMost Asian markets headed into the weekend on a dour note following a Wall Street sell-off Friday, but Japanese stocks were again boosted by a weaker yen as another feeble inflation reading put fresh pressure on Tokyo.

Asian markets mixed following better-than-expected post-Brexit UK GDP data

Asian markets mixed following better-than-expected post-Brexit UK GDP dataWhile Asian stock market indices were trading mixed on Friday (28 October), the Shanghai Composite was down 0.18% at 3,106.87, as of 6.46am GMT. This followed UK reporting better-than-expected GDP overnight.

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