Inspired by a vocal travelling support who defied Greece’s economic problems to make the trip to London, Olympiacos battled back from 27-10 down after the first quarter of the Euroleague final to take the lead early in the second half.

They rarely looked threatened, shooting 39 points in the fourth quarter to clinch their third Euroleague title 100-88.

“(Madrid) scored some incredible shots in the first quarter, but we put a stop to that and started rebounding offensively, and I think that was the key to success in the end,” said Olympiakos forward Pero Antic.

The win was in a stark contrast to last year when it took a game-winning shot from Georgios Printezis at the buzzer to overcome CSKA Moscow.

Having defeated much-fancied CSKA again in Friday’s semi-final, the Greeks started slowly on Sunday and struggled against Madrid’s sharp shooting in the first quarter.

But Olympiakos’ trademark ironclad defence soon kicked in, allowing eight-times champions Madrid just 14 points in the second quarter and 20 in the third as Kyle Hines and Pero muscled out the Spanish forwards inside the paint.

The team’s talisman Vassilis Spanoulis dominated the second half, shooting a total of five three-pointers and notching up four assists. He was voted the Final Four’s most valuable player for the third time and finished top scorer with 22 points.

“It has been a very difficult year – you know our budget,” Spanoulis said. “Our backs have been against the wall many times, but we have stayed together and fought back each time.”

A 21-point haul for Rudy Fernandez, who quit the National Basketball Association to return to Madrid last year, could do little to stem the tide.

“Spanoulis’ three pointers changed the game’s rhythm while we were still working to get back into the game, but in the end they were able to control the (lead),” said Real coach Pablo Laso.

Earlier, Barcelona’s Marcelinho Huertas missed a potentially game-winning shot at the buzzer, letting CSKA hold on for a 74-73 victory in the league’s third place playoff.

(Writing by Patrick Graham; Editing by John Mehaffey)

LONDON, April 15 (Reuters Point Carbon) – Barclays plc (BARC.L: Quote, Profile, Research, Stock Buzz) broke internal rules by transferring advisory staff with confidential information to its acquisitions team to help buy a Swedish carbon credit firm, a lawyer for a former client said on Monday.

London-based trading house CF Partners is suing the bank for 82 million euros ($107 million), saying Barclays advised it on a potential bid for Stockholm-based Tricorona in 2008 then used the information to buy the carbon firm itself two years later.

A Barclays spokeswoman called the case “entirely without merit”, adding the bank will be “contesting it vigorously”.

CF Partners alleges Barclays breached client confidentiality agreements.

“Barclays crossed over five employees from the public side to the private side (of the bank) so that they would be allowed to be part of the deal team, because of the information they received from my clients,” said CF Partners’ lawyer Tim Lord in a pre-trial court hearing in London on Monday.

Lord said internal Barclays memos would be used as evidence in the case. He also read out excerpts from recorded calls between Barclays and Tricorona employees and internal phone conversations between Barclays employees, which will also be used in the 8-week trial due to start on May 13.

“We know more about (Tricorona’s) portfolio than anyone else … Let’s try to close something with (them) … The opportunity is there right now,” Lord said, reading a transcript of a call between two Barclays staff.

“This case that has evolved … is a fantasy dreamt up by CF Partners,” said Ewan McQuater, a lawyer representing Barclays in the case. “There is no clear evidence that (Barclays employees) … misused confidential information.”

Barclays bought Tricorona for $159 million in 2010 and sold it back to the company’s management for an undisclosed sum in May 2012.

According to court documents, CF Partners said it identified Tricorona as a takeover prospect and in mid-2008 approached Barclays for debt financing and help with a possible deal.

The documents said Barclays signed a confidentiality agreement and provided advisory services to CF Partners that would have netted the bank around 15 million pounds in fees.

“Barclays never had an advisory relationship with CF Partners. Being a leader in emissions trading, Barclays already had a relationship with Tricorona before it had any involvement with CF Partners,” the Barclays spokeswoman said.

CF Partners declined to comment on Monday’s court proceedings.

(Reporting by Michael Szabo; Editing by Ruth Pitchford)

Anthony, the Knicks’ leading scorer and candidate for the league’s Most Valuable Player award this season, recorded 26 points in the sold out London affair, the third regular season NBA game to be played at the city’s O2 Arena.

“It felt good out there and the crowd was fantastic,” he told reporters after the game, adding that the experience was reminiscent of the 2012 Olympic Men’s Basketball final, which saw the United States top Spain at the same London venue.

Anthony scored 18 points in the opening two quarters of Thursday’s contest to give the New York a 56-41 halftime lead in the designated home game for the Pistons.

“The Knicks got off to a great start and we were playing catch up from then on,” Pistons guard Will Bynum said.

A mix of foul trouble and poor shooting by the Knicks in the third quarter allowed Detroit to claw back to within four points before New York pulled away for good.

Bynum scored 22 points, while team-mates Greg Monroe and Andre Drummond both notched 11 points and 10 rebounds each.

The Knicks (25-13) are ranked second in the NBA’s Eastern Conference behind rivals and defending champions the Miami Heat, while Detroit (14-25) languish in 11th spot and are unlikely to make the playoffs.

With strong attendances for basketball at the 2012 London Olympics, the league is keen to build on a growing UK fan base.

The NBA played back-to-back regular season games in London in March 2011 featuring the Toronto Raptors and the New Jersey Nets, who have since relocated to Brooklyn.

Even though Thursday’s contest was officially a home game for Detroit, vociferous crowd support for New York made the game feel like it was being played in Manhattan’s Madison Square Garden.

“We had great, great fans and they received us very well. It felt like a home game for us,” added New York’s Amar’e Stoudemire, who had 17 points on the night. (Editing by John O’Brien)

The match marks the return of U.S. professional basketball to the O2 Arena, the same London stage where Anthony helped lead the United States to a gold medal at last year’s Olympics.

“How can I forget … that was a special moment. It’s great to be back in this arena, having the chance to play here one more time in front of the fans who have been very gracious to myself and the game of basketball,” Anthony told reporters on the sidelines of a team practice.

Team USA went undefeated in London, beating Spain in the final to capture a record 14th gold medal in men’s basketball.

Anthony and New York team mate Tyson Chandler were both on the U.S. squad and have since led the Knicks (24-13) to second spot in the NBA’s Eastern Conference, half a game behind the defending league champion Miami Heat.

The Detroit Pistons (14-24), on the other hand, are treading near the bottom of the Eastern Conference in 10th spot, despite winning seven of their last 10 games.

The NBA, having had to cancel its international schedule last season due to a labour dispute between team owners and players, is keen to build on the high viewer numbers for basketball during the 2012 Olympics.

But British basketball is reeling following UK Sport’s decision in December to stop funding the game’s development after it spent 8.6 million pounds on the sport in the lead up to the Olympics.

STRICT DIET

Anthony, the Knicks’ top scorer, said the long-haul transatlantic flights and adapting to the five-hour time change would do little to dent his team’s championship chances.

“We’re trying to expand the game of basketball globally, especially here in the UK, so I think they did a great job of scheduling this game to give us time to settle in both here and when we get home,” he added.

Anthony said he adopted a strict diet free of meat and carbohydrates in late December to “get some clarity” and rebuild his body and mind.

But the five-times NBA All-Star ditched the regime last week after it left him sapped of energy.

“I’m getting better. We’ll see this practice,” he told Reuters when asked if he had regained his trademark vigour.

Thursday’s sold-out game follows two regular season clashes in London in March 2011, both of which paired the Toronto Raptors against the New Jersey Nets, who have since relocated to Brooklyn.

The NBA has previously played 16 regular season games abroad in countries including Mexico and Japan.

(Reporting by Michael Szabo; Editing by Frank Pingue)

The match marks the return of U.S. professional basketball to the O2 Arena, the same London stage where Anthony helped lead the United States to a gold medal at last year’s Olympics.

“How can I forget … that was a special moment. It’s great to be back in this arena, having the chance to play here one more time in front of the fans who have been very gracious to myself and the game of basketball,” Anthony told reporters on the sidelines of a team practice.

Team USA went undefeated in London, beating Spain in the final to capture a record 14th gold medal in men’s basketball.

Anthony and New York team mate Tyson Chandler were both on the U.S. squad and have since led the Knicks (24-13) to second spot in the NBA’s Eastern Conference, half a game behind the defending league champion Miami Heat.

The Detroit Pistons (14-24), on the other hand, are treading near the bottom of the Eastern Conference in 10th spot, despite winning seven of their last 10 games.

The NBA, having had to cancel its international schedule last season due to a labor dispute between team owners and players, is keen to build on the high viewer numbers for basketball during the 2012 Olympics.

But British basketball is reeling following UK Sport’s decision in December to stop funding the game’s development after it spent 8.6 million pounds ($13.76 million) on the sport in the lead up to the Olympics.

STRICT DIET

Anthony, the Knicks’ top scorer, said the long-haul transatlantic flights and adapting to the five-hour time change would do little to dent his team’s championship chances.

“We’re trying to expand the game of basketball globally, especially here in the UK, so I think they did a great job of scheduling this game to give us time to settle in both here and when we get home,” he added.

Anthony said he adopted a strict diet free of meat and carbohydrates in late December to “get some clarity” and rebuild his body and mind.

But the five-times NBA All-Star ditched the regime last week after it left him sapped of energy.

“I’m getting better. We’ll see this practice,” he told Reuters when asked if he had regained his trademark vigour.

Thursday’s sold-out game follows two regular season clashes in London in March 2011, both of which paired the Toronto Raptors against the New Jersey Nets, who have since relocated to Brooklyn.

The NBA has previously played 16 regular season games abroad in countries including Mexico and Japan. ($1 = 0.6252 British pounds) (Reporting by Michael Szabo; Editing by Frank Pingue)

Expectations that the ECB may lower interest rates in coming
months saw the euro hit a record low against the higher-yielding
Australian dollar. The Aussie was also buoyed by comments from
Chinese premier Wen Jiabao that China would fine-tune policy to
support economic growth.

The single currency rose 0.25 percent against the dollar to
$1.2285, well below the high of $1.2390 hit last Friday.
Traders said the euro moved higher due to buying by a sovereign
investor in the euro/sterling currency pair, probably to meet
month-end requirements.

That led to some to pare bets on euro weakness. Traders
cited strong offers to sell the currency above $1.2300 while
bids were layered below $1.2250 and stop losses at $1.2220.

Investors are focused on Thursday’s ECB policy meeting after
bank chief Mario Draghi pledged last week to do whatever was
necessary to preserve the euro. That raised expectations of a
bold ECB response, a move that could boost the currency.

But investors are increasingly questioning how much the ECB
can deliver, given euro zone paymaster Germany is opposed to the
central bank buying government bonds in the secondary market and
granting a banking licence to the bloc’s rescue fund.

“There is a clear danger that expectations might be too
high…He’s got to put his money where his mouth is, as there is
a risk of disappointment around Thursday,” said Nick Parsons,
head of markets strategy at nabCapital in London.

If the ECB does not signal further measures, the euro could
fall back below $1.2130, he said, but a firm response could lift
it above last week’s peak.

“After that you’d really be looking at $1.2693, the high on
the last trading day of June, but we’d really need to see
monetary shock and awe to take to us to those sorts of levels,”
Parsons added.

Such “shock” is unlikely with most traders and analysts
sceptical that a resumption of ECB bond-buying by itself would
be enough to change the euro’s weak overall trend. Expectations
of further ECB interest rate cuts would keep sentiment towards
the currency negative, analysts said.

Earlier this month, the ECB cut its deposit rate, at which
banks park excess funds with the bank, to zero, making the euro
a funding currency for investors seeking higher yields.

FX DIVERSIFICATION

Since the rate cut, analysts said a popular trade has been
to sell the euro against the higher-yielding Australian dollar.
The euro fell to a record low of A$1.1645 on Tuesday.

Analysts said central banks have also increased holdings of
higher-yielding currencies and that could be one reason why the
Australian dollar has been in demand. The Aussie hit a
four-month high against the U.S. dollar at $1.0539.

“We’ve already seen some serious diversification, and these
are longer-term decisions and they are not going to turn around
in the short term,” said Jesper Bargmann, Asia head of G11 spot
FX at RBS, Singapore, referring to a shift in asset allocation
by central bank reserve managers out of the euro.

The Swiss National Bank on Tuesday published data on its
foreign exchange reserves, showing a second quarter increase in
euros as well as in “other” currencies.

“The (data) suggests the central bank had been an active
buyer of currencies including the Australian dollar (and)
Swedish crown,” UBS FX strategist Geoffrey Yu said in a note.

These growth-linked currencies tend to benefit when optimism
about the outlook for the global economy picks up.

While the Federal Reserve is likely to hold off from
adopting another bond-buying programme at its two-day policy
meeting that starts on Tuesday, some players think it might
adopt such monetary stimulus in coming months.

The dollar edged up 0.1 percent to 78.18 yen.

The euro hit a record low against the growth-linked Australian dollar, with higher-yielding currencies retaining gains on expectations that both the ECB and the U.S. Federal Reserve will nonetheless ease policy to support faltering growth.

The single currency was flat at $1.2260, staying below the high of $1.2390 hit last Friday. Traders cited bids at $1.2250/60 with stop-loss orders below $1.2225. Offers to sell the euro were reported above $1.2300, all of which are likely to keep the euro in a tight range, traders said.

Investors are focused on the ECB policy meeting on Thursday, after President Mario Draghi pledged last week to do whatever was necessary to protect the euro zone from collapse. That raised expectations of a bold response to the euro zone crisis from the ECB, a move which could give the euro a boost.

But investors are increasingly questioning how much the ECB can deliver, given euro zone paymaster Germany is opposed to the central bank buying government bonds in the secondary market and granting a banking license to the bloc’s rescue fund.

“There is a clear danger that expectations might be too high…He’s got to put his money where his mouth is, as there is a risk of disappointment around Thursday,” said Nick Parsons, head of markets strategy at nabCapital in London.

If the ECB does not signal further policy measures, the euro could fall back below $1.2130, he said, but a firm response could lift it above last week’s peak.

“After that you’d really be looking at $1.2693, the high on the last trading day of June, but we’d really need to see monetary shock and awe to take to us to those sorts of levels,” Parsons added.

Such a “shock” is unlikely with most traders and analysts skeptical that a resumption of ECB purchases of government bonds by itself would be enough to change the euro’s weak overall trend. That is largely because expectations of further interest rate cuts by the ECB would keep sentiment towards the currency negative, analysts said.

Earlier this month, the ECB cut its deposit rate, at which banks park excess funds with the bank, to zero, making the euro a funding currency for investors seeking higher yields.

FX DIVERSIFICATION

Since the rate cut, analysts said a popular trade has been to sell the euro against the higher-yielding Australian dollar. The euro fell to a record low of A$1.1645 on Tuesday.

Analysts said central banks have also increased holdings of higher-yielding currencies and that could be one reason why the Australian dollar has been in demand. The Aussie was trading near a four-month high against the U.S. dollar at $1.0515, having hit $1.0538 earlier in the day.

“We’ve already seen some serious diversification, not just out of the periphery but out of Europe altogether, and these are longer term decisions and they are not going to turn around in the short term,” said Jesper Bargmann, Asia head of G11 spot FX at RBS, Singapore, referring to a shift in asset allocation by central bank reserve managers out of the euro.

The Swiss National Bank said on Tuesday published data on its foreign exchange reserves, showing a second quarter increase in euros as well as in “other” currencies. IDnWEA8312

“The (data) suggests the central bank had been an active buyer of currencies including the Australian dollar (and) Swedish crown,” UBS FX strategist Geoffrey Yu said in a note.

These growth-linked currencies tend to benefit when optimism about the outlook for the global economy picks up.

While the Fed is seen likely to hold off from adopting another bond-buying program at its two-day policy meeting that starts on Tuesday, some market players think the U.S. central bank might adopt such monetary stimulus in coming months.

The dollar edged up 0.2 percent to 78.27 yen.

(Additional reporting by Masayuki Kitano in Singapore, editing by Nigel Stephenson)

The euro zone is the UK’s biggest trading partner and
investors are hoping the ECB will announce bold measures when it
meets this week to stem the euro zone debt crisis. If the ECB
meets expectations, it could boost risk appetite and sterling,
but if it fails to deliver, assets which have a robust
relationship with stocks could suffer.

The pound lost 0.4 percent against the dollar to
$1.5685, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.
Traders cited an option barrier at $1.5800 that could check
gains.

Against the euro, though, sterling gained 0.3
percent to 78.12 pence, as Europe’s single currency faltered on
worries the ECB’s meeting on Thursday will turn out to be
disappointing.

“It’s getting tougher for sterling  It’s holding up well
against the euro, but things become a lot less certain towards
the end of the week with quite a weight of expectations around
the ECB,” Simon Smith, head of research at FxPro.

“If they do something more aggressive or bolder than before,
that has potential to improve the euro at sterling’s expense.”

Hopes for action have grown since ECB President Mario Draghi
said last week the bank would do whatever necessary to save the
euro, comments that have ignited speculation the bank could
relaunch its bond-buying programme to help Spanish and Italian
borrowing costs.

A Reuters poll published on Monday forecast the bank would
probably announce on Thursday that it will re-start the
programme.

However, Germany has repeated its opposition to such a step.
Its Economy Minister warned the ECB about any large-scale
government bond purchases and a government spokesman on Monday
reiterated Berlin’s opposition to any form of mutualisation of
euro zone debt.

“The market will look for further headlines to continue the
momentum we’ve seen, but unless we get a continuation of the
comments from the end of last week, euro/dollar will probably
dip lower and cable (dollar/sterling) will probably follow,”
said Jennifer Hau, FX strategist at Lloyds TSB.

RESILIENCE UNDER THREAT

The market has been focused primarily on events in the euro
zone and the United States, where investors are looking for
signs from policymakers of further quantitative easing, but a
steady stream of worse-than-expected UK economic data has made
the recently resilient pound look increasingly vulnerable.

Bank of England data on Monday showed British mortgage
approvals and lending slumped in June, echoing broader economic
weakness last month that was blamed in part on extra public
holidays and very wet weather.

Consumer lending, such as credit card borrowing, held up
relatively well, but house purchase activity fell to its lowest
in one and a half years and headline money supply figures showed
their biggest annual drop since records began in 1983.

British retail sales also rose less than expected in July,
Confederation of British Industry data showed.

“These data will nonetheless add to the sense that the
credit environment in the UK has been deteriorating, justifying
the additional policy measures on liquidity and bank funding
that the government and the Bank of England has embarked on,”
RBC Capital Markets’ Jens Larsen said in a note to clients.

The BoE’s Monetary Policy Committee (MPC) will meet on
Thursday and although analysts predict it will leave its policy
stances unaltered, concerns over a weakening UK economy could
push the bank towards more quantitative easing or even a 25
basis point rate cut later this year.

For a story on sterling’s outlook click on

“The MPC will ease further, and so will the ECB. But at the
risk of sounding overly simplistic, ECB rates are close to zero
and have less room to fall,” said Societe Generale currency
strategist Kit Juckes.

“Even though we think we will see euro/sterling fall to 75
pence over the next year, we can easily imagine it trading well
above 80 pence in the next month or so.”

(Editing by Susan Fenton)

The pound slipped by 0.3 percent against the dollar
to $1.5696, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

“Sterling has been looking resilient over the past couple
weeks. We saw big moves on Friday but we’re seeing a general
softening in the risk tone today,” Jennifer Hau, FX Strategist
at Lloyds TSB.

“The market will look for further headlines to continue the
momentum we’ve seen, but unless we get a continuation of the
comments from the end of last week, euro/dollar will probably
dip lower and cable (dollar/sterling) will probably follow.”

Against the euro, though, sterling was higher.
The common currency was 0.3 percent lower at 78.15 pence, as
Europe’s single currency faltered ahead of possible ECB action
at its meeting on Thursday.

Last Thursday, ECB President Mario Draghi pledged to do
whatever it took to save the euro, while late on Friday Standard
& Poor’s affirmed the UK’s AAA credit rating with a stable
outlook, quelling worries after lower-than-expected second
quarter GDP data.

Analysts polled last week said Britain had about a one in
three chance of losing its AAA sovereign rating.

RESILIENCE UNDER THREAT

The market has been focused primarily on events in the euro
zone and the United States, where investors are looking for
signs from policymakers of further quantitative easing.

This has led to resilience in the pound despite weak UK
economic data, but analysts said sterling could be vulnerable if
a steady stream of poor numbers pushed the Bank of England
closer to more quantitative easing or even a 25 basis point rate
cut.

Strategists expect the BoE’s Monetary Policy Committee (MPC)
to leave both policy stances unaltered when it meets on
Thursday, though the picture will likely change as the year
progresses.

“The MPC will ease further, and so will the ECB. But at the
risk of sounding overly simplistic, ECB rates are close to zero
and have less room to fall,” said Societe Generale currency
strategist, Kit Juckes.

“Even though we think we will see euro/sterling fall to 75
pence over the next year, we can easily imagine it trading well
above 80 pence in the next month or so.”

The BoE published data on Monday showing British mortgage
approvals and lending slumped in June, echoing broader economic
weakness last month blamed in part on due to extra public
holidays and very wet weather.

Consumer lending, such as credit card borrowing, held up
relatively well, but house purchase activity fell to its lowest
in one and a half years and headline money supply figures showed
their biggest annual drop since records began in 1983.

British retail sales also rose less than expected in July,
Confederation of British Industry data showed.

“These data will nonetheless add to the sense that the
credit environment in the UK has been deteriorating, justifying
the additional policy measures on liquidity and bank funding
that the Government and the Bank of England has embarked on,”
said RBC Capital Markets’ Jens Larsen in a note to clients.

(Editing by John Stonestreet)

The pound slipped by 0.3 percent against the dollar
to $1.5699, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

“Sterling has been looking resilient over the past couple
weeks. We saw big moves on Friday but we’re seeing a general
softening in the risk tone today,” Jennifer Hau, FX Strategist
at Lloyds TSB.

“The market will look for further headlines to continue the
momentum we’ve seen, but unless we get a continuation of the
comments from the end of last week, euro/dollar will probably
dip lower and cable will probably follow.”

Against the euro, sterling was flat at 78.22
pence, as Europe’s single currency faltered ahead of a European
Central Bank meeting on Thursday.

Last Thursday, ECB President Mario Draghi pledged to do
whatever it takes to save the euro, while late on Friday
Standard & Poor’s affirmed the UK’s AAA rating with a stable
outlook, quelling worries after lower-than-expected second
quarter GDP data.

Analysts polled last week said Britain had about a one in
three chance of losing its AAA sovereign credit rating.

The market has been focused mainly on events in the euro
zone and the United States, where investors are looking for
signs from policymakers of further quantitative easing.

This has led to resilience in the pound despite weak UK
economic data, but analysts said sterling could be vulnerable if
the Bank of England signals moves towards further quantitative
easing or even a 25 basis point rate cut.

The BoE’s Monetary Policy Committee meets on Thursday,
though strategists expect the bank to leave its quantitative
easing target and interest rates unchanged. The Bank’s data on
consumer credit is due later on Monday, as are UK mortgage
lending and money supply figures.

(Reporting by Michael Szabo)