FII Positioning at Extremes – Refiners and Upstream near all-time highs; Metals near all-time lows Regional Morning Notes Vallianz wins $458 mn OSV jobs in Middle East;Mexico expectation miss on oil auction OTC drugs may be phased out of the national reimbursement list - positive for Rx drug companies Initiate at BUY; Good catalysts from national strategies China’s astounding gunpowder to tame the stock market and possible consequences Greece: What are the main risks until the end of the year? Investment Daily Asian Daily 2Q beat; margin better than feared on cost discipline