Euro sinks as ECB tightens squeeze on Greek banks The euro slipped against a stronger dollar, falling over 1 percent after the European Central Bank decided to keep Greek banks propped up with emergency funds, but made it harder for them to access the funds.
| By: Jenny Cosgrave
COLUMN-As China suspends reality, sit tight: James Saft July 7- Only an excessively brave investor would bet that China's increasingly desperate moves to prop up its stock market won't work; only a fool would bet that they will. The proper place for anyone with any choice in the matter is on the sidelines, watching with concern as China, faced with a rapid implosion in its stock market, attempts to overawe would-be...
| By: James Saft
China's IPO curbs risk $32 billion of U.S. take-private deals HONG KONG, July 7- China's move to curb initial public offerings to contain a stock market meltdown could endanger nearly $32 billion worth of deals announced this year by Chinese companies planning to drop their listings on U.S. exchanges and return home. China's securities regulator said at the weekend there would be "no new IPOs in the near-term" and the number...
| By: Elzio Barreto
Hong Kong shares close down on China slump, Greek worries July 7- Hong Kong stocks fell on Tuesday, dragged down by a slumping mainland market, as well as bearish global markets amid fears that the Greek crisis could deepen. The Hang Seng index fell 1.0 percent, to 24,975.31, while the China Enterprises Index lost 3.3 percent, to 11,827.30 points. Hong Kong stocks fell across the board.
UPDATE 3-Noble Group hires PwC to review accounting practices after criticism *Singapore Exchange says welcomes company's decision. SINGAPORE, July 7- Noble Group Ltd, Asia's biggest commodities trader, said it has hired PricewaterhouseCoopers to review the way it values some of its assets- its biggest move yet to boost transparency after an attack on its accounting practices. Allegations by little known Iceberg Research in February...
| By: Aradhana Aravindan and Anshuman Daga
METALS-LME copper sinks below $5,500 T to five-month low as bears gather MELBOURNE, July 7- London copper slumped below the $5,500 mark on Tuesday to its lowest in five months as markets turned increasingly negative on China for the near term and waited for the next developments in the Greek debt crisis. "There are an increasing number of people who think from a fundamental perspective, current prices are cheap," Ivan Szpakowski, a Citi...
| By: Melanie Burton
METALS-London copper sinks to five-month low as sentiment sours on Greece, China MELBOURNE, July 7- London copper fell to a five-month low on Tuesday, as markets turned increasingly negative on China for the near term and waited for the next developments in the Greek debt crisis. "There are an increasing number of people who think from a fundamental perspective, current prices are cheap," Ivan Szpakowski, a Citi analyst in Hong Kong, said of copper.
| By: Melanie Burton