Today's Headlines

Bloomberg:

• European Stocks Jump to Highest Since ’08. European shares rose to their highest level in more than five years before a publication of Federal Open Market Committee minutes later this week. Aberdeen Asset Management Plc jumped 15 percent after Lloyds Banking Group Plc (LLOY) agreed to sell its Scottish Widows Investment Partnership division to the money manager. Sonova Holding AG rose 5.4 percent as the world’s largest hearing-aid maker raised its full-year forecast and said first-half revenue beat analyst estimates. Petrofac Ltd. (PFC) plunged 17 percent. The Stoxx Europe 600 Index increased 0.5 percent to 324.70 at the close of trading in London.

• Copper Falls After Funds Turn Bearish. Speculators turned bearish on copper, with bets on price declines outnumbering wagers on gains by 8,117 contracts in futures and options in the week ended Nov. 12, U.S. Commodity Futures Trading Commission data show. That’s the first time investors turned net short since Sept. 17. “Money managers significantly cut their net long positions in copper for the third week running,” Daniel Briesemann, an analyst at Commerzbank AG, wrote in a report today. Price declines since the Nov. 12 reporting date “point to a further retreat on the part of speculative financial investors,” he wrote. The contract for delivery in three months fell 0.2 percent to $6,995 a metric ton by 11 a.m. on the London Metal Exchange.

• WTI Declines After Reversing Earlier Advance of 0.5%. West Texas Intermediate crude declined in New York, giving up an earlier gain of 0.5 percent. WTI for December delivery fell 65 cents, or 0.7 percent, to $93.19 a barrel at 12:27 p.m. on the New York Mercantile Exchange. The volume of all futures traded was 32 percent below the 100-day average.

• Gold Falls First Time in Three Days. Gold futures for December delivery lost 0.6 percent to $1,279.20 an ounce at 10:54 a.m. on the Comex in New York. Prices rose 0.2 percent last week. Trading was 39 percent below average for the past 100 days for this time of day, data compiled by Bloomberg showed.

Wall Street Journal:

• Court Orders MF Global to Pay $1.2 Billion. Regulator Says Payment Is Restitution to Customers of Failed Brokerage Firm. 

• OECD Economic Growth Stalls. GDP of Organization's Members Rose 0.5% From the Second Quarter.

CNBC:

• Fed's Dudley: I'm 'getting more hopeful' on US economic recovery. William Dudley, an influential U.S. central banker who has been one of the staunchest supporters of easy-money policies, on Monday said he was "getting more hopeful" on prospects for the beleaguered U.S. economic recovery.

Zero Hedge:

• Bitcoin Soars Above $600: Rises 20% In One Day Ahead Of Senate Hearing. (graph)

• Spanish Bad Loans Re-Accelerate To New Record High. (graph)

• Homebuilder Confidence Drops To 5 Month Low. (graph)

• Foreign Purchases Of US Securities Drop To New Post-Lehman Low. (graph)

• China Adopts "New" GDP-Boosting Accounting System.

Business Insider:

• TRADER: Here Are The Two Pillars Of Facebook's Bear Case You Should Know In Your Sleep.

• Dave Eggers' Frightening Vision Of Where Social Media Could Lead Us. 

• CREDIT SUISSE: These 4 Charts Look Terrible For Future US Growth.

• 2 Bubble-Like Developments In The Markets. (graph)

Washington Examiner:

• 27 Democratic senators who promised you could keep your health coverage.

Financial Times:

• US hospitals look to provide insurance for poor patients. US hospitals look to provide insurance for poor patients. US hospitals are exploring ways to buy “Obamacare” insurance plans for their sickest and poorest patients as they strain under the weight of tens of billions of dollars in uncompensated costs from the uninsured. But the move is opposed by the Obama administration and insurers, who fear it could add to the turmoil surrounding the new healthcare marketplace.