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Investment market update

Early Trading

UK equities are expected to open lower as downbeat data from China, the world’s biggest metals consumer, is likely to weigh on miners.

World Markets

Most Asian markets fell amid signs of a deepening slowdown in the Chinese economy after an official gauge of manufacturing slid to a five-month low, at the weekend.

US stocks pared their best monthly gain since February after disappointing results from Exxon Mobil Corp. and Chevron Corp, resulting in both falling more than 4.5%.

LinkedIn Corp. fell 10% amid concerns growth is slowing in its main business. Coca-Cola Enterprises Inc. added 12% after a report said it’s considering a three-way merger with two other bottlers.

UK stocks advanced as ITV Plc rose 3.4% after Liberty Global Plc increased its stake in the company to just under 10%. InterContinental Hotels Group Plc fell 1.6% after saying it isn’t in merger talks with Starwood Hotels & Resorts Worldwide Inc. Antofagasta Plc fell 2.3% after agreeing to pay about $1 billion for a 50% stake in Barrick Gold Corp.’s Zaldivar copper mine in Chile.

Headlines

HSBC Holdings Plc, Europe’s largest bank, reported an 18% climb in second-quarter profit amid higher trading income and gains from a sale of shares in China’s Industrial Bank Co.

After being closed since 29 June, the Athens Stock Exchange will reopen Monday. A host of restrictions will govern the purchase of shares by local traders due to capital controls imposed as the country acted to preserve its financial system. It will also be easier to suspend stocks that swing wildly.

Iran can boost oil production in one week after international sanctions are lifted, and OPEC’s refusal to accommodate Iran in export markets would result in lower crude prices, Oil Minister Bijan Namdar Zanganeh said.

Wall Street’s biggest bond dealers are joining hedge funds in increasing Treasury holdings as the outlook for inflation falls. JPMorgan Chase & Co., Citigroup Inc. and the 20 other companies that trade with the Federal Reserve increased their holdings to a net $42 billion in data reported last week, the highest level in four months.

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