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Pre-Market Primer: Europe and JPMorgan Remain in the Headlines


Alibaba and Yahoo finally reach a deal.

MINYANVILLE ORIGINAL Can this marriage be saved? Markets are mixed as the eurozone continues lurching towards a showdown (or meltdown) with the FTSE 100 (^FTSE) up 0.57% to 5,297.39 and the Euro Stoxx 50 (FEZ) down 0.16% to 2,141.30. In a convergence of headlines, JPMorgan (JPM) is in the news in Europe as investors fear the bank is planning a pull-back following its trading loss. JPMorgan is the biggest buyer of European home-loan bonds.

On this side of the pond, the S&P 500 was down 0.74% to 1,295.22 and the Dow Jones Industrial Average (^DJI) was down 0.59% to 12,369.38. Meanwhile, the Nasdaq Composite Index (^IXIC) fell 1.24% to 2,778.79 and the exchange took responsibility for the technical glitches that delayed the Facebook (FB) IPO on Friday, which could have prevented institutions from buying in.

Moving ahead, Alibaba (ALBCF.PK) and Yahoo (YHOO) reached an agreement on a buyback deal after months of negotiations. Barclays (BCS) stated that it would sell its $6.1 billion stake in asset manager BlackRock (BLK). In commodities, WTI crude oil rose for the first time in seven days.
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