5 events worth paying attention to today

1) The European Union should cap the price of pipeline gas from Russia to mitigate the effects of Russian President Vladimir Putin’s market manipulation. President of the European Commission (EC) Ursula von der Leyen announced this today during her trip to Germany. At the same time, the head of the EU executive called for energy savings, she should present a concrete plan in mid-September.

2) The Beijing Stock Exchange issued draft rules for margin trading and securities lending. Margin deposits should not be less than 100 percent in margin trading and not less than 50 percent in securities lending. Shares of public companies, stock funds, bonds or money market funds can be used as deposits. The Shanghai Futures Exchange said it is allowing qualified foreign institutional investors to trade some domestic futures and options including gold, copper and aluminum.

3) The Russian gas company Gazprom is likely to resume gas supplies through the Nord Stream 1 pipeline on Saturday morning after the completion of maintenance work. This is shown by the records of the reservation for the transportation of the raw material. Reservations for gas transportation capacity are at the level before the current maintenance, representing 20 percent of the gas pipeline’s capacity, Reuters reported today.

4) Global bond benchmark Bloomberg Global Aggregate Total Return Index has fallen more than 20 percent from its highs in 2021, fulfilling the technical definition of a bond bear market. This is the deepest drop since the index was launched in 1990.

5) The British Antimonopoly Authority (CMA) today definitively approved the takeover of the Czech antivirus company Avast by the American software company NortonLifeLock for USD 8.6 billion (CZK 211.2 billion). According to the authority, the security software market will remain competitive even after the merger of the two companies. The office thus confirmed its preliminary decision from last month. NortonLifeLock said at the time that it expected to complete the transaction this month.

Source: Investing.com, Bloomberg, Reuters, CTK

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