- China favors Euro over Dollar as Bernanke alters path.
- China's stocks rally on economic outlook, led by shippers, energy shares.
- Crude oil trades near a one-month low after Japan's economic growth slows.
- HK govt tightened mortgage lending rules, to increase supply of land to help cool prices.
- Japan economy surpassed by China as GDP is less than estimated.
- Japanese economy slows unexpectedly; annualised growth for quarter only 0.4%.
- Wheat futures advance, erasing losses, as Russia lowers harvest estimate by 38%.
- Agricultural Bank of China sets IPO record with $22.1B boosted sale.
- Agrium offers A$1.2B cashfor AWB Ltd.
- Aspen Pharmacare agrees to buy Sigma's generic-drug unit for $799M.
- Aviva rejects $7.8B approach from RSA.
- AWB Ltd. gets a conditional takeover offer from Agrium Inc. valuing it at $1.1B.
- Bank of America is weighing a possible reduction of its 34% stake in BlackRock.
- Blockbuster said creditors have pushed back a debt deadline until Sept. 30.
- Cowen Group to accelerate cost-saving measures, Q2 loss widens to $21.2M.
- Dillard's swung to Q2 profit as gross margin rose to 33% from 29.9%, inventories fell 6%.
- Dynegy to be purchased by Blackstone in a deal valued at $4.7B including debt.
- GM said nine of its 11 US assembly plants would forgo their summer shutdown period.
- Google purchases virtual currency software firm Jambool Inc. for an undisclosed sum.
- Lowe's July quarter profit rises from $759M last year to $832Mthis year.
- Novartis leaves door open to pay SAC, minority shareholders more for Alcon.
- SAP AG expects double digit growth to continue.
- US FDA panel meets Thurs to evaluate Eli Lilly's request to broaden usage of Cymbalta.
Vedanta to buy 40% of Cairn Energy Plc’ s Indian oil unit for ~$6.5B.
Economic Calendar: Data on NY Fed - Empire Mfg Index, NAHB Housing Mkt Index to be released.
Earnings Calendar: ABM, AXAS, BH, CPY, IOC, LOW, TCI, URBN, VAL, WYY.
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Data provided by Egan-Jones Ratings and Analytics