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20:30 Update

RANSQUAWK AUDIO CLOSED FOR THE WEEK; THE DESK WILL REOPEN SUNDAY 2200BST (LONDON TIME)

20:23 Commodities

Venezuela oil minister Ramirez says minimum price for oil should be USD 100 a barrel

20:13 Update

RANsquawk - Today's trading edge

TIME: 2028BST
NEWS: Silverback Asset reports 8.8% passive stake in James River Coal (JRCT)
REACTION: In an immediate reaction, Co. shares spiked 7.81% higher from USD 3.10 to USD 3.34.

TIME: 1635BST
NEWS: SAP (SAP GY) is said to end talks to purchase Jive software (JIVE) in recent weeks
REACTION: Jives Co. shares saw a knee-jerk reaction initially spiking 6.31% spike lower from USD 15.55 to USD 14.56. The move was quickly reversed as Co. shares spiked 10.49% higher from USD 15.55 to USD 17.17.

20:09 US Equities

US EQUITY WRAP

It was a very quiet trading session as markets ended the week with very little news flow before the holiday weekend. Losses into the open were largely pared toward the close. US equities did not manage to reverse the losses after Fed minutes and Bernanke comments on Wednesday and therefore posted the first negative week in over a month. The best performing sector today was consumer goods supported by Proctor and Gamble who announced aftermarket yesterday that Alan Lafley returned to the company as CEO. They traded 3% higher premarket and held on to these gains throughout the session. Gamestop suffered the biggest losses on the day due to uncertainty about how Microsoft’s new Xbox will sell games. Abercrombie and Fitch also lagged in response to their pre-market earnings miss. Finally, the DJIA finished up 0.06% at 15303.10, the S&P 500 finished down 0.26% at 1646.30 and the NASDAQ 100 finished down 0.01% at 2991.02.

20:08 US Equities

Actavis (ACT) confirms appeals court issues injunction related to Generic Pulmicort Respules

19:55 US Equities

Visa (V) and MasterCard (MA) are to sue swipe fee deal drop-outs with trade associations and affiliate foods among parties sued

19:52 US Equities

S&P cuts Southern Co. (SO) outlook to negative from stable

19:49 US Equities

NYSE closing Imbalance - USD 250mln to the sell-side

19:47 US Equities

NYSE closing imbalance - 15/30 for sale on the DJIA

19:37 FX Flows

CFTC says net EUR short position USD 13bln increases 73%

- Net JPY short position USD 11.6bln decrease 0.7%
- Net AUD short position USD 3.2bln decrease 125%
- Net USD short position USD 39.5bln decrease 26%

19:35 Commodities

CFTC says COMEX oil speculators raise WTI net long position by 23,083 contracts to 272,220 in week to May 21

19:31 Economic commentary

CFTC says COMEX gold speculators cut net long position by 3,531 contracts to 35,686 in week ending May 21st

- COMEX silver speculators switch to net short position by 187 contracts, cutting 1,599 contracts in week to May 21st.
- COMEX copper speculators trim net short position by 4,082 contracts to 9,033 in week to May 21st.

19:31 US Equities

Silver Wheaton (SLW) resumes trade; down USD 0.28 at USD 22.80

19:29 US Equities

Silverback Asset reports 8.8% passive stake in James River Coal (JRCT)

19:23 US Equities

Silver Wheaton (SLW) remains 'remains confident' in Barrick's (ABX) ability

19:18 Commodities

Mexico's Pemex says April crude oil exports 1.275mln barrels per day

19:14 FX Flows

Option expiries of note for Monday's 1000am NY cut (1500BST)

- EUR/USD - 1.2920, 1.2925

- USD/JPY - 100.00, 100.75

19:06 US Equities

Barrick Gold (ABX) resumes trade; down USD 0.40 at USD 19.19

19:04 Other Data

Argentina Industrial Production Y/Y (Apr) 1.7% vs Exp. 2.1% (Prev. 0.2)

- Argentina Industrial Production M/M (Apr) 0.1% (Prev. 1.5%)

18:47 US Equities

Norway Oil fund voted to split Chairman and CEO roles of Jamie Dimon at JP Morgan (JPM) at the AGM

18:43 US Equities

Barrick Gold (ABX) to assess implications of SMA resolution

18:41 US Equities

Yahoo (YHOO) said to make a bid for Hulu

18:37 US Equities

PDVSA and Schlumberger (SLB) to create oil service in Venezuela according to Information Ministry

18:34 US Equities

Procter & Gamble (PG) downgraded to Sell from Hold at Standpoint Research

18:32 SMI

UBS's (UBSN VX) French unit could be placed under formal investigation in the coming days as part of a broader probe into the Co.'s business practices according to sources