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* Diageo in $450m deal for cachaca maker

* Emerging-Market Stocks Rise for Third Day on Greece, China Policy Optimism

* Assad forces widen attacks after massacre

* China Industrial Companies’ Profits Decline 2.2% In April

* Tehran defiant on nuclear programme

* Gambia signs oil-rights accord with Camac Energy

* Nepal runs out constitution clock, slips into crisis

* Markets: up, except US

Diageo in $450m deal for cachaca maker
Diageo is to buy one of Brazil’s bestselling makers of cachaça, the sugarcane-derived liquor that serves as a base for caipirinhas and ranks first among distilled drinks in the South American country, the FT reports.

http://www.ft.com/cms/s/0/f2e53446-a88f-11e1-a747-00144feabdc0.html

Emerging-Market Stocks Rise for Third Day on Greece, China Policy Optimism
Emerging-market stocks rose for a third day as opinion polls of Greek voters eased concern the country will exit the euro area and speculation mounted that China will take steps to boost its economy, Bloomberg reports.

http://www.bloomberg.com/news/2012-05-28/emerging-stocks-rise-for-third-day-amid-china-policy-speculation.html

Assad forces widen attacks after massacre
Kofi Annan is due to arrive in the Syrian capital Damascus on Monday as the ceasefire plan he hoped would end the country’s descent into civil war appears in disarray. With the international community expressing outrage over the massacre of at least 108 civilians in the village of Houla, fresh outbreaks of fighting were being reported in other conflict hotspots, the FT reports.

http://www.ft.com/cms/s/0/8cf0a2c4-a7d1-11e1-b8a9-00144feabdc0.html

China Industrial Companies’ Profits Decline 2.2% In April
Chinese industrial companies’ profits fell in April, a government report showed, as the nation’s slowing economy curbed demand, Bloomberg reports. Earnings declined 2.2 per cent from a year earlier to 407.6bn yuan ($64.2bn), the National Bureau of Statistics said on its website yesterday. That compared with a 4.5 per cent gain in March.

http://www.bloomberg.com/news/2012-05-27/china-industrial-companies-profits-declined-2-2-in-april-1-.html

Tehran defiant on nuclear programme
Iran has said it will continue to stockpile highly enriched uranium and has ruled out the inspection of a suspect military site in a sign of Tehran’s frustration that concessions on its nuclear programme may not result in relief from international sanctions, the FT reports.

http://www.ft.com/cms/s/0/c7c02f02-a7fc-11e1-8fbb-00144feabdc0.html

Gambia signs oil-rights accord with Camac Energy
Gambia and US-based Camac Energy signed a contract for the exploration and production of offshore oil, state-run media said, in the West African country’s first agreement of its kind with a foreign company, Bloomberg reports.

http://www.bloomberg.com/news/2012-05-27/gambia-signs-oil-exploration-deal-with-camac-energy-grts-says.html

Nepal runs out constitution clock, slips into crisis
Nepal dissolved its four-year-old Constituent Assembly at midnight Sunday and set new elections after political parties failed to agree on the model of federalism the country should adopt in a new constitution, the WSJ reports.

http://online.wsj.com/article/SB10001424052702303807404577430741243205950.html?mod=WSJINDIA_hpp_LEFTTopStories

Emerging Markets
MSCI Emerging Market Index up +0.79% at 909.25

Europe
FTSE up +1.07% at 5,409
RTS up +1.41% at 1,291
Warsaw Wig up +0.83% at 37,167
FTSE 300 Eurotop up +0.73% at 992.17

Americas
DJIA down -0.60% at 12,455
S&P 500 down -0.22% at 1,318
Bovespa up +0.74% at 54,463

Asia
Nikkei 225 up +0.15% at 8,593
Topix down -0.14% at 721.11
Hang Seng up +0.47% at 18,801
Shanghai Composite up +1.19% at 2,361
MSCI Asia ex-Japan up +0.64% at 390.40
S&P CNX Nifty Index up +1.33% at 4,986

Currencies
€/$ 1.26 (1.26)
$/¥ 79.32 (79.67)

Commodities
Brent Crude (ICE) up +1.05 at 107.88
Light Crude (Nymex) up +1.04 at 91.90
100 Oz Gold (Comex) up +13.70 at 1,583

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