Mining group Xstrata did not support hopes of a more general M&A rebound on Thursday, announcing itĀ had no intention of offering for rival Anglo American and that it continued to assess a range of alternative growth options. Read the Reuters report here.

OCBC , the smallest of Singapore’s three local banks, has agreed to buy ING‘s private banking unit in Asia for $1.5 billion, a surprise outcome in a complex drawn-out auction.

CIT GroupĀ  is getting closer to finalizing the terms of a new loan that would give the commercial lender, trying to avoid bankruptcy, $3 billion to $6.5 billion, two sources familiar with the matter told Reuters.

In other news on Thursday:

The British government will not underwrite a planned rights issue by Lloyds Banking Group, the Financial Times said on Thursday.

Japan’s securities regulator is probing allegations of market manipulation in share trading by BNP Paribas, the Asahi newspaper reported.