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Morning Brief

European stocks are called to open higher this morning, despite Asian shares trading lower overnight on concerns that China’s economic slowdown could be longer lasting.

In the US, the Dow Jones average retreated 639 points and the S&P 500 sank 6 points, despite an upbeat report on the US housing market.

Events Today

US existing home sales number out of US.Chancellor George Osborne will present the UK BudgetJapan All Industrial Activity DataGermany to auction 2 year notes, Portugal to auction 3 month, 6 month bills