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Morning Brief

European shares are called to open lower this morning as investors remain cautious ahead of an unofficial European Summit in Brussels to discuss policy to curb the euro debt crisis. The issue of Eurobonds, as proposed by the French President Hollande is expected to dominate the meeting.

In Asia overnight, stocks and commodities fell while the dollar index rose to a 20 month high as speculation increased that Greece will leave the euro and also on the news that Japan reported slower than estimated export growth.

The increased speculation that Greece will leave the Euro also had an effect on the US yesterday, where stocks ended flat on Tuesday, after turning sharply lower during the final hour of trading.