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Italy vote to tap austerity anger, gauge political shift

Italy is likely to register a strong protest vote against belt-tightening on Monday in local elections that will provide a fresh snapshot of Europe's changing political landscape a year ahead of a national ballot.

EU energy-related law on the agenda

The Danish EU presidency expires at the end of June. Before then, the Danes are seeking to achieve progress on energy-related policy areas.

France presses for euro area bonds as crisis salve

France's Francois Hollande will push a proposal for mutualising European debt at an informal summit of EU leaders in Brussels this week, increasing pressure on German Chancellor Angela Merkel to drop her opposition to the idea.

Bunds dip but Greek caution limits move

German government bond futures slipped on Monday as investors took profits on Friday's rally to new highs but uncertainty over Greece's future in the euro zone meant a bigger selloff was unlikely ahead of elections there next month.

Gold gains on steady euro; Europe concerns stay

Gold inched up on Monday to extend last week's rise, tracking a steady euro after world leaders pledged to combat financial turmoil, although worries about Greece and the euro zone debt crisis continued to feed caution in the financial markets.

Europe

Germany's Schaeuble says Greek euro zone exit preventable

German Finance Minister Wolfgang Schaeuble said Greece's exit from the euro zone could definitely be prevented but that it was up to Greece to abide by its agreements.
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Birth of new Greek drachma would be pained, rushed

If or when policymakers finally decide Greece should leave the euro, the exit could happen so quickly that "new drachma" currency notes might not be printed in time.

Nasdaq, S&P 500 gain 1 percent

US stocks rose on Monday, with the Nasdaq and the S&P 500 up 1 percent as markets recovered from their worst weekly decline for the year after world leaders expressed support for Greece to stay in the euro zone.

ECB's Constancio: too early to consider policy exit

European Central Bank Vice President Vitor Constancio said on Monday it is too early to consider an exit from unconventional monetary policies, but it is necessary to monitor the risks posed to price stability and investment flows.

Italy's Monti shows G8 bank guarantee plan

Italian Prime Minister Mario Monti took a plan to create a European system to guarantee bank deposits to the G8 summit, the Corriere della Sera newspaper said on Saturday, as savers' anxiety built in debt-ridden euro zone countries.

Asia

Asia stocks mixed after G8 vague on Europe fix

Asian stock markets struggled for direction Monday, with investors unconvinced that the world's major economies nailed a solution to the European debt crisis following a summit in Washington.

Hong Kong shares set for fourth straight loss

Hong Kong shares look set to post a fourth-straight loss on Monday, dragged lower by weakness in Europe's largest bank, HSBC Holdings Plc as investors await details of a pledge by global leaders over the weekend to keep Greece in the euro zone.

Japan shares mixed

Japanese shares were mixed in the morning session on Monday, with the Nikkei headline index staging a small rally after tumbling last week on eurozone worries.

AMERICAS

Obama, UK's Cameron hit the diplomatic treadmill

US President Barack Obama and British Prime Minister David Cameron resorted to a spot of treadmill diplomacy to tackle the world's problems on Saturday, sweating over the euro zone debt crisis while working out at the gym.
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US jobless claims hold steady at 370,000

New claims for US unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth.

S&P 500 faces key test, Wall St set to slide

US stocks were set to fall on Monday, tracking global equity markets lower as a political impasse in Greece heightened concerns about Europe's debt crisis and fears mounted about an economic slowdown in China.

ASIA-PACIFIC

Total eyes operator role in new Australia gas, oil projects

French oil firm Total is looking for oil and unconventional gas projects in Australia in which it could take a role as operator, the company's chief executive said on Monday.

Australia posts surprise jump in jobs

Australian employment rose unexpectedly in April pushing the jobless rate to its lowest in a year, an encouraging outcome that helped the Australian dollar jump and debt futures fall as the market trimmed expectations for deeper interest rate cuts.
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Savage cuts return Australia to surplus

Australian Treasurer Wayne Swan declared the "deficit years of the global recession" over Tuesday, unveiling a Aus$1.5 billion budget surplus funded by deep cuts to defence and foreign aid spending.

AFRICA

East Africa to join world gas giants

To East Africa's assets of spectacular wildlife, abundant land and shimmering beaches you can now add gas - so much gas it could transform global energy flows along with some of the world's poorest countries.

Post-war Ivory Coast nurtures second "miracle"

From his lagoon-side allotment in Ivory Coast's economic capital Abidjan, Moussa Yanda has a ringside seat to watch the foundations of a $290-million toll bridge slowly rise up from the shore.

South Africa's Vodacom will not let DRC asset go -CEO

Vodacom will not let its Congolese asset go, and is appealing a court ruling of a public sale on June 3, the chief executive of the South African mobile operator said on Monday.

Bashir says wants peace with South Sudan but security comes first

Sudan's President Omar Hassan al-Bashir said Sudan wants a lasting peace with South Sudan but Juba needs to end support for rebels in Sudan's border land, state news agency SUNA has said.

Security clouds speedy Libya oil recovery

Increasing insecurity and disruptions are overshadowing Libya's speedy return to pre-war oil production, delaying much needed foreign expertise and investment as well as threatening output.