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* Houla massacre leaves UN plan in tatters

* 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: mixed

Houla massacre leaves UN plan in tatters
The UN-backed peace plan for Syria was in disarray on Sunday after armed rebels said they would no longer abide by a ceasefire and a local network of protesters demanded the departure of UN observers, the FT reports.
http://www.ft.com/intl/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/intl/cms/s/0/c7c02f02-a7fc-11e1-8fbb-00144feabdc0.html?ftcamp=rss

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 +0.07% at 902.73

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 down -0.02% at 8,579
Topix down -0.34% at 719.67
Hang Seng down -0.01% at 18,712
Shanghai Composite down -0.75% at 2,316
MSCI Asia ex-Japan down -0.08% at 463.35
S&P CNX Nifty Index down -0.02% at 4,920

Currencies
€/$ 1.26 (1.26)
$/¥ 79.40 (79.67)

Commodities
Brent Crude (ICE) up +0.52 at 107.35
Light Crude (Nymex) up +0.76 at 91.62
100 Oz Gold (Comex) unchanged 0.00 at 1,569

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