Investor Carl Icahn buys stake in 'undervalued' Apple

Apple shares have fallen 30% since hitting a peak last year


Billionaire investor Carl Icahn says he has built up a "large" stake in Apple.

Mr Icahn says Apple shares are "extremely undervalued" and wants Apple to carry out a bigger share buyback.

In April, Apple said it would return $100bn (£65bn) to shareholders by the end of 2015, by raising its dividend and buying back shares.

Mr Icahn said he had a "nice" conversation with Apple's chief executive Tim Cook and plans to speak to him again shortly.

In response Apple said in a statement: "We appreciate the interest and investment of all our shareholders.

French Prelim GDP q/q 0.5% 0.1% -0.2%

European Factors to Watch-Euro zone GDP seen supporting stock gains

LONDON | Wed Aug 14, 2013 6:18am BST
Aug 14 (Reuters) - European stocks are seen edging higher on Wednesday as investors await confirmation the euro zone has edged out of recession, opening the door for a long-awaited pick up in domestic demand and corporate earnings.

Data at 0900 GMT is expected to show the euro zone economy grew 0.2 percent in the second quarter, chiming with the recent run of strong numbers including Tuesday's news of a pick up in German ZEW investor morale, and ending nearly two years of recession.

Citi's European economic surprise indicator - keenly watched by investors as a barometer for future equity market performance - turned positive last month . The GDP data should also bode well for companies that make their money in the euro zone and have lagged globally-focused rivals in recent years.

German Prelim GDP q/q 0.7% 0.6% 0.1%

Nikkei rises to 1-week high on strong global econ data, weak yen

Wed Aug 14, 2013 7:17am BST
TOKYO, Aug 14 (Reuters) - Japan's Nikkei share average
closed at a one-week high on Wednesday in choppy trade as
positive economic data from Europe and the United States spurred
buying, while a weak yen lifted exporters such as Toyota Motor
Corp and Honda Motor Co.

The benchmark Nikkei rose 1.3 percent to 14,050.16
after falling to as low as 13,747.18 earlier. The broader Topix
added 1.2 percent to 1,171.34.

Traders attributed late buying to short-term investors' high
frequency trade.

French Prelim Non-Farm Payrolls q/q -0.2% 0.0% -0.1%

French CPI m/m -0.3% -0.1% 0.2%

FTSE100 flat in early deals as ex-dividend factors weigh

German, French growth should help euro zone exit recession

BRUSSELS | Wed Aug 14, 2013 8:37am BST
(Reuters) - The euro zone's two biggest economies, Germany and France, both grew more than forecast in the second quarter, reinforcing expectations that data later on Wednesday will show the currency bloc has moved out of recession.

The German economy grew by 0.7 percent in the second quarter of 2013, its largest expansion in more than a year, thanks largely to domestic private and public consumption.

GBP Claimant Count Change -29.2K -14.3K -21.2K

GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9 0-0-9

GBP MPC Official Bank Rate Votes 0-0-9 0-0-9 0-0-9

GBP Average Earnings Index 3m/y 2.1% 2.1% 1.7%

GBP Unemployment Rate 7.8% 7.8% 7.8%

CHF ZEW Economic Expectations 7.2 4.8

EUR Flash GDP q/q 0.3% 0.2% -0.3%

German 10-y Bond Auction 1.80|1.3 1.57|1.6

End-of-day Market Overview