Asian shares rose to their highest in over five months on Wednesday as strong US earnings reports lifted investor mood, while the euro hit a one-month high against the dollar as Spain retained an investment-grade debt rating. The MSCI Asia-Pacific ex-Japan index jumped as much as 1% while the Nikkei gained 1.3% to reach a one-week high. Obama tackled Romney more forcefully in the second US presidential candidates" debate, striving to make up for lost ground in the first round. "Romney stumbled badly at one point in an exchange over the deadly attack on the US consulate in Libya," and was most articulate on the economy. Obama was much sharper and more energetic than in their first debate two weeks ago. (Financial Times) (Reuters) (FT live blog) Vikram Pandit stands to forfeit almost $33m in cash and stock from a retention package according to the terms of a May 2011 regulatory filing by Citigroup. Whether the board gives him a payout to ease his exit may reveal more about the circumstances around his departure. BBA considers banned banker register: Anthony Browne, BBA's new chief executive, confirmed that a general register for bankers was one of the measures under debate to give an independent professional body the clout to uphold professional and ethical standards. This would operate similarly to professional bodies for doctors, lawyers and accountants; bankers who breached ethical or professional standards could then be struck off the register. Spain bailout request update: "A day after a senior Spanish official told reporters that German concerns were preventing Madrid from seeking assistance, German officials insisted Spain hadn't indicated it wants aid." (Wall Street Journal) Opposition to the bailout request is waning, both in Spain and other eurozone countries, but an EU official said the request was now not likely to take place until November. (Financial Times) Spain retained its investment-grade rating after a review by Moody's. IBM reported a drop in sales for the third quarter but increased earnings per share by 10%, beating Wall Street estimates by a penny. The fall in revenues, down 5% on the same period last year to $24.7bn and below analysts's expectations, sent the company's stock down 3.4% in after-hours trading. Indonesian probe of Bumi unit: Indonesia's market regulator is investigating the use of funds raised in an initial public offering of one of London-listed Bumi Plc's key assets. Intel's profits fell 14% in Q3 and the chipmaker will scale back production during the fourth quarter to address reduced demand. Shares fell 3.4% in after-hours trading. Hon Hai acknowledges hiring underage staff: A Foxconn factory did indeed hire workers as young as 14, says the Hon Hai Precision group. MasterCard is analysing transaction data to help marketers direct targeted advertising at consumers. However it says the information sold to marketers is anonymous. Martin Wolf on the IMF's warnings. Are HFT and flash crashes scaring away investors? China's changing demographics could justify slower growth. Pioneering HFT firm shuts its doors. NYT Dealbook Carlos Slim goes long cement. Asian markets Nikkei 225 up +124.03 (+1.43%) at 8,825 Topix up +8.60 (+1.17%) at 741.00 Hang Seng up +204.19 (+0.96%) at 21,411 US markets S&P 500 up +14.79 (+1.03%) at 1,455 DJIA up +127.55 (+0.95%) at 13,552 Nasdaq up +36.99 (+1.21%) at 3,101 European markets Eurofirst 300 up +14.78 (+1.35%) at 1,113 FTSE100 up +64.93 (+1.12%) at 5,871 CAC 40 up +80.66 (+2.36%) at 3,501 Dax up +115.02 (+1.58%) at 7,376 Currencies €/$ 1.31 (1.31) $/¥ 78.68 (78.86) £/$ 1.61 (1.61) Commodities ($) Brent Crude (ICE) down -0.08 at 113.92 Light Crude (Nymex) up +0.11 at 92.20 100 Oz Gold (Comex) up +5.10 at 1,750 Copper (Comex) up +0.95 at 371.75 10-year government bond yields (%) US 1.72 UK 1.82 Germany 1.54 CDS (closing levels) Markit iTraxx SovX Western Europe -7.41bps at 123.47bp Markit iTraxx Europe -4.71bps at 121.97bp Markit iTraxx Xover -22.27bps at 509.69bp Markit CDX IG -3.39bps at 92.41bp