China’s Hang Seng lost 1.2% to close at its lowest in a month. China is hovering around 3 year lows, weighed down by disappointing bank earnings and property stocks. Turnover was also weak as investors hold off yet another day for Bernanke’s speak tomorrow. Agricultural Bank of China, the third largest lender, slid2.7% due to a bigger than expected margin decline. The Industrial and Commercial Bank of China and the Bank of Communications both posted weak first-half results today, slipped 1.9 and 3.5% respectively. In property, Sino Land dove 5% to its lowest in a month, and was the property sectors biggest loser today.

In Europe the FTSE 300 is currently down 0.4% with volumes at 10% of their 90 day moving average ahead of Jackson Hole. Carrefour was the big name in Europe today gaining 7.9% on better than expected results. The world’s largest advertising group, WPP, sank 2.8% today due to cautious customer demands. Their peer, PublicisGroupe, was also dragged down losing 2.1%. Around Europe the DAX is down 0.8% and the CAC 0.5%. The Madrid general was just over 1%.

Heineken is set to release two new beers in select N. American markets; Amstel Wheat and TecateMichelada.

Volvo plans to cut production 10% and slash jobs as a result of lower sales.

Commodities begin bleak with crude, natural gas, gold and silver all down.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu