EMEA Morning Briefing : Stocks to Open Lower, -2-

TEL AVIV-Israeli forces launched a search for a Palestinian militant leader and five other inmates who staged an elaborate escape from a high security prison, raising political pressure on Prime Minister Naftali Bennett as he attempts to burnish his security credentials after leading a wide-ranging new coalition to power in June.

Mr. Bennett, a former commando, called the jailbreak a grave incident as the manhunt got under way. Prison cameras showed the six Palestinian inmates had removed flooring in their cell and broke out at around 1.30 a.m. local time, via a winding passage running through the building's foundation. When an emergency head count was called after several hours, the six men were confirmed missing, a prison system spokesperson said.

U.S. Left Afghanistan Littered With Decaying Factories, Schools, Offices

The Afghan countryside is littered with abandoned and decaying power plants, prisons, schools, factories, office buildings and military bases, according to a watchdog agency, the legacy of the U.S.'s 20-year effort to fund the establishment of a modern Afghan state that could provide security and basic services for its citizens.

A range of U.S. government agencies poured an estimated $145 billion into construction and infrastructure projects, equipment for the Afghan security forces, humanitarian aid, counternarcotics programs and other spending, according to the Special Inspector General for Afghanistan Reconstruction, or Sigar.

Goldman Sachs's Petershill Plans London Listing

LONDON-Goldman Sachs Group Inc.'s Petershill Partners said Monday it plans to list an investment vehicle on the London Stock Exchange, taking advantage of a sizzling market for private equity.

The London-based business, which invests in private equity and hedge fund firms that collectively manage $187 billion in assets, is tapping into global investors' desire for juicy returns amid perennially low interest rates. The deal, which would see Petershill's vehicle as a stand-alone company operated by Goldman Sachs Asset Management, could value it at more than $5 billion, said people familiar with the matter.

Fund Manager Roundup: ECB Might Follow Fed's Lead, Bonds to Weather Elections, Supply, Candriam Says

The economic backdrop would allow the European Central Bank to reduce its pandemic emergency bond purchases in 4Q but the ECB might opt to wait and see what signals the U.S. Federal Reserve gives on its own tapering plans, Nadege Dufosse, global head of cross-asset strategy at Candriam, tells Dow Jones Newswires. Candriam expects contained impact from German and French elections on bond markets and anticipates enough buyers for sovereign and European Union bonds. The following is a selection of Dufosse's comments. Candriam had EUR150 billion assets under management at the end of June.

ECB Might Wait to See US Fed's Taper Signal Before Reducing PEPP Pace

Big Boeing Customer Says It Is Walking Away From New MAX Order

LONDON-Ryanair Holdings PLC, Boeing Co.'s biggest customer outside of the U.S., said it is walking away from talks with the U.S. jet maker over a potential new order for the 737 MAX in a dispute over pricing.

Boeing has pushed to catch up with rival Airbus SE on jet orders from airlines and lessors, after falling far behind in the crucial single-aisle category. The 737 MAX competes with Airbus's A320 in that market, and Airbus capitalized on the MAX's nearly two-year grounding to boost its market share.

Disney's 'Shang-Chi' Flies to a Record Labor Day at the Box Office

Walt Disney Co.'s "Shang-Chi and the Legend of the Ten Rings" broke records for the highest-grossing film for the four-day Labor Day weekend, making $90 million in the U.S. and Canada, according to industry estimates.

Moviegoers flocked to theaters over the holiday weekend despite rising Covid-19 cases in the U.S., putting the latest Marvel film's box office take well ahead of the prior Labor Day record set when "Halloween" grossed $30.6 million in 2007.

TotalEnergies to Invest $27 Billion in Iraq

French energy giant TotalEnergies SE plans to invest $27 billion in Iraq in a 25-year deal, according to people familiar with the matter, boosting its position in the country at a time when other Western companies have been rethinking their exposure.

The deal includes investments in various energy projects, including injecting seawater into oil fields to increase the amount of oil recovered, a natural-gas processing plant and a solar farm, the people said. Total has pledged an initial investment of $10 billion, TotalEnergies said on Monday.

This Year's Cannabis Deals Look Safer Than the Last Crop

An early wave of cannabis mergers and acquisitions burned investors. A fresh round is now under way, but they have other things to worry about than history repeating itself.

This year is on track to set a record for purchases of U.S.-based marijuana companies. Transactions worth $5.5 billion have closed so far in 2021, according to Viridian Capital Advisors, compared with roughly $3 billion last year and $3.7 billion in 2019. On the first day of this month alone, three acquisitions were announced, including TerrAscend's purchase of Michigan-based Gage for $545 million.

Chinese Tech Giant JD.com Founder Richard Liu to Step Back From Daily Business

Chinese e-commerce group JD.com Inc. named its first president Monday, paving the way for founder and Chief Executive Richard Liu to step back from day-to-day business to focus on longer-term strategy and mentoring young managers.

The decision by Mr. Liu, who is also known by the Chinese name Liu Qiangdong, to step back sets up a possible succession plan and follows similar moves by other founders of Chinese tech giants facing tougher competition and a widening crackdown by Beijing.

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Expected Major Events for Tuesday

04:30/NED: Aug CPI

05:45/SWI: Aug Unemployment

06:00/FIN: Jul Foreign trade

06:00/GER: Jul Industrial Production Index

06:00/DEN: Jul Industrial production & new orders

06:00/NOR: Jul Industrial Production Index

06:00/ROM: 2Q GDP

06:00/UK: Aug Halifax House Price Index

07:00/CZE: Jul Retail Trade

07:00/HUN: Jul Preliminary Industrial Production

07:00/AUT: Aug Wholesale Price Index

07:00/SWI: Aug SNB foreign currency reserves

07:00/AUT: Jun Foreign Trade

08:00/ICE: Aug External trade, preliminary figures

08:00/BUL: 2Q GDP - preliminary data

09:00/GRE: 2Q Provisional GDP

09:00/GRE: Jul External Trade (provisional data)

09:00/EU: 2Q GDP and Main Aggregates Estimate

09:00/EU: 2Q Employment

09:00/GER: Sep ZEW Indicator of Economic Sentiment

All times in GMT. Powered by Kantar Media and Dow Jones.

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

09-07-21 0017ET