A Quick Glance at News

v Merkel buries euro bonds as summit tension rises, Merkel criticized the euro-overhaul proposals for putting too much emphasis on shared liability and not enough on control of wayward budgets, according to a party official who was in the room. The 57-year-old leader told them she expects no shared liability for debt in her lifetime, the official said.

v Italy plans to sell up to 9 billion Euros of six-month T-bills later in the day, before an auction of up to 5.5 billion Euros of 5- and 10-year bonds on Thursday.

v Cyprus said on Wednesday it would be premature to speculate on conditions attached to a bailout request from its EU partners, but did not think they would be particularly austere.

v Asian stocks rose for the first time in five days and European equity futures advanced amid speculation China will add to economic stimulus. Natural gas climbed to a five-month high, while corn snapped a three-day gain that drove prices up 13 percent.

v Japan’s Prime Minister Yoshihiko Noda risks stalling the economy by pushing through a higher sales-tax that may damp consumption even as it aids efforts to tame the world’s largest debt burden.

v China’s stocks rose, rebounding from a five-month low, on speculation the government will ease monetary policy and increase fiscal spending to prevent the economy from slowing any further.

v Crude-oil futures extended gains in electronic trading Wednesday, but remained below $80 a barrel ahead of a weekly U.S. supply report, which is expected to show a decline in inventories.

v PRECIOUS-Gold ticks up in thin trade; deflation worry lingers, Gold regained strength on Wednesday, although concerns European leaders would fail to come up with concrete measures to solve the region's debt crisis could prompt a flight to the safety of the U.S. dollar and dent bullion.

v Indian gold traders hesitant to buy, , Demand could also remains sluggish in the coming months as the onset of the rains curtails festive and wedding activity. Traders are also tracking the progress of the monsoon to forecast the wedding and festival demand.

v Gold Scrap flow slows, The flow was good last week, but this week there is no rush," said Kapil Kumar of Chokshi Arvind, a scrap dealer in Mumbai's Zaveri Bazaar, which bought scrap at 30,300 rupees.

v “If we have good monsoon rains,” adds Bombay Bullion Association President Prithviraj Kothari, “then gold demand could be anywhere between 750 and 800 metric tones this year.”

v German Bund futures opened little changed on Wednesday, with investors reluctant to increase their exposure to safe haven instruments despite fading hopes that an EU summit on Thursday will produce game-changing results.

v Research In Motion Ltd. is expected to post another sharp decline in sales and its second straight net loss during its next quarterly report on Thursday, as investor sentiment sours further on the BlackBerry maker.

v Google muscles into tablets, Google Inc plans to unveil a $199 tablet co-branded with Tawian's Asustek Computer Inc at its developer conference this week, taking direct aim at Apple Inc's iPad, Bloomberg reported, citing two people familiar with the matter

v Apple Inc. (AAPL) won a court order immediately blocking U.S. sales of Samsung Electronics Co.’s Galaxy Tab 10.1 tablet computer while the companies litigate Apple’s patent-infringement claims.

v Glencore International Plc (GLEN)’s 16.9 billion pound ($26.4 billion) offer for the rest of Xstrata Plc (XTA) is in doubt after the target’s second-largest shareholder demanded the bid be increased by 16 percent.