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WireTap 1400 07/12/11

A round-up of the key stories across the specialist financial media, including how uncertainty about the EU summit is affecting the euro

Uncertainty over EU summit outcome hits euro 

The euro fell on Wednesday and European stocks trimmed gains after a German government official dented hopes that Friday's crunch EU summit will generate a comprehensive deal to resolve the euro zone's debt crisis.

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Global poll predicts US economy rebounding 

The US receives its highest rating from international investors in more than two years on new optimism that the world’s largest economy will weather the financial crisis in Europe and avoid a recession in 2012, according to a Bloomberg poll.

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Renminbi under pressure as China slows

The renminbi has fallen to the bottom of its official trading band for six straight days against the dollar, an unprecedented indication of the Chinese currency’s potential weakness as the economy slows.

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Asia surviving Europe ‘stress test’ boosts case for debt-rating upgrades

Asian economies are withstanding Europe’s debt crisis so well that some investors are positioning for credit-rating upgrades in the region.

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Lloyds to sell £900m of property loans 

Lloyds Banking Group has entered exclusive talks with Lone Star, the US private equity group, over the sale of £900m of distressed property loans.

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