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EMERGING MARKETS-Falling China stocks, oil unnerve emerging assets

LONDON, July 28- Emerging stocks languished near a two-year low on Tuesday after Chinese shares took another beating while currencies, mired around multi-year lows, were pulled in different directions by the rising dollar and falling oil prices. MSCI's emerging market stock index was flat after Chinese shares closed down 1.7 percent with Beijing scrambling...
Source: Reuters | By: Karin Strohecker
UPDATE 2-Statoil Q2 profit beats forecast; keeps dividend

*Norway production, refineries boost result. OSLO, July 28- Norway's Statoil reassured investors on Tuesday by maintaining its dividend for the second and third quarters after posting better-than-expect results, despite taking a hit from the slump in oil prices. CEO Eldar Saetre reiterated that the oil price needs to be at $100, $80 and $60 a barrel in 2016, 2017...
Source: Reuters | By: Stine Jacobsen and Sabina Zawadzki
UPDATE 2-BP profits slump after huge oil spill charge

LONDON, July 28- BP's second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.8 billion charge related to the 2010 Gulf of Mexico oil spill. While BP had been expected to take a $10 billion charge for this at some point, it said on Tuesday it had also agreed to pay up to $1 billion to resolve claims from...
Source: Reuters | By: Ron Bousso and Dmitry Zhdannikov
UPDATE 4-Oil prices fall to near six-month lows, rattled by China

China's already-volatile benchmark stock index, with a combined market capitalisation of $4.6 trillion, has lost 10 percent in the last two days of trade. "Typically, equity markets do have a high correlation to quarterly GDP growth," Deutsche Bank strategist Michael Lewis said. Brent had fallen 78 cents to $52.69 a barrel by 0821 GMT, having hit a session low of...
Source: Reuters | By: Amanda Cooper
Why we should worry about Turkey's fight with IS

Representatives from all 28 countries that make up NATO are meeting in Brussels Tuesday to discuss Turkey and its decision to join the fight against terrorist group Islamic State in Syria. Turkey opposes both IS and the Kurdish PKK, which has been fighting a long-running separatist conflict with the Turks. Turkey and the U.S. are also planning to sweep IS...
Source: CNBC.com | By: Holly Ellyatt
Europe trades higher; all eyes on China

European equities traded higher Tuesday, with investors around the world watching how Chinese stocks.
Source: CNBC.com | By: Holly Ellyatt
Dollar rises against yen as focus turns to Fed

The dollar rose from a two-week low against the yen on Tuesday, as investors brushed off China's stock market rout and focused on the possibility of a 2015 U.S. interest rate hike.
Source: Reuters
UPDATE 2-Next lifts profit expectations after first-half beat

LONDON, July 28- Next, Britain's second-largest clothing retailer, nudged up its annual sales and profit forecasts after beating its own guidance for first-half sales growth, boosted by warm weather in June and July. Shares in the firm, which trades from more than 500 shops in Britain and Ireland, about 200 mainly franchised stores overseas and the Directory...
Source: Reuters | By: James Davey
GLOBAL MARKETS-Stocks rebound, shrugging off volatile and weak China

*European, U.S. stocks shrug off China fall. Germany's DAX, France's CAC 40 and Britain's FTSE 100 were all up around 0.5 percent too, while S&P futures pointed to similar gains at the open on Wall Street. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan ended the day 0.2 percent higher after falling nearly 1 percent early on, touching its lowest...
Source: Reuters | By: Jamie McGeever
FOREX-Dollar rises against safe-haven yen as focus turns to Fed

LONDON, July 28- The dollar rose from a two-week low against the yen on Tuesday, as investors brushed off China's stock market rout and focused instead on the possibility of a 2015 U.S. interest rate rike ahead of the start of a Federal Reserve meeting. The dollar gained a third of a percent to 123.66 yen, up from its low of 123.01 yen on Monday. "We're in for a little bit of a...
Source: Reuters | By: Jemima Kelly