Spreadex Market Update
Euro stock futures indicating a higher open
Chinese stocks dragged overnight on concern official measures to rein in home prices will hurt corporate earnings. With the introduction of property curbs, this could impact the Chinese economy which caused investors to sell the bigger stocks like financials.
The leaders of BRICS nations are set to approve a new development bank during an annual summit that starts today in South Africa. They are discussing pooling foreign-currency reserves to ward off balance of payments.
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