Crude oil traded above $107 a barrel as a fire in Iraq prevented oil to export terminal. Iraq exports
Money markets remained tight as interbank interest rare rose to near record high for the year. Banks remain unwilling to extend loans to other banks despite several auctions by central banks in the UK and Europe to ease the liquidity. Separately, Man Group said earnings will be higher than expected and Compass Group reported better than expected earnings. Kingfisher, home supplies retailer reported 20% decline in earnings.
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