BERNSTEIN raises ASML PT to €2,300 from €1,700.

HSBC chief economist Paul Bloxham said Australian house prices pulled back in June but that is just the start. He cited major recent changes to taxation of investment properties and three Reserve Bank of Australia rate hikes as having rapidly weakened investor demand. Bloxham forecasts national house prices could fall up to 8% from now through the end of next year and said June’s pace of decline implies downside risk. He added: "Buckle up."

A senior US official said Trump will discuss navigation in the Strait of Hormuz at the NATO summit; allies are prepared to participate in protecting shipping security in the strait.