Commerzbank promotes CFO Bettina Orlopp to CEO as the German lender faces takeover advances by Italy’s Unicredit. Chinese equities see an extended rally following the PBOC’s decision to slash the medium-term lending rate as a part of a string of stimulus measures by the central bank. The move boosts the yuan to a 16-month high. On Wall Street, the Dow and S&P 500 record new record highs, shrugging off disappointing recent consumer confidence data. Israeli airstrikes kill a senior Hezbollah commander as well as hundreds of civilians. The Israeli President Isaac Herzog tells CNBC his country will ‘do whatever it takes’ to protect its citizens and cities.
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