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  • *EU leaders to discuss Ukraine election on Tuesday. *Ukraine election billed as successful. BRUSSELS, May 26- Sunday's election in Ukraine, deemed a success by the European Union, is likely to ease pressure for far-reaching sanctions against Russia as Europe worries about how punitive steps might hurt its own economy.

  • *PM Renzi says he has mandate to make his mark in Europe. ROME, May 26- Italian Prime Minister Matteo Renzi promised on Monday to push economic and institutional reforms in Rome and promote his pro-growth agenda in Brussels after securing an emphatic victory in elections for the European parliament at the weekend.

  • *Italy's FTSE MIB outperforms as Renzi wins EU vote. LONDON, May 26- European equities ended higher in thin trading on Monday, with Italian shares outperforming the regional market after voters endorsed Prime Minister Matteo Renzi's centre-left Democratic Party's reforms in European elections.

  • FRANKFURT/ MUNICH, May 26- Siemens is readying a formal offer for Alstom under which it would transfer its rail activities and less than 7 billion euros in cash to its French rival in exchange for its power assets, sources familiar with the German firm's thinking say.

  • BOGOTA, May 26- President Juan Manuel Santos and opposition challenger Oscar Ivan Zuluaga scrambled on Monday to win the support of candidates eliminated from Colombia's presidential election and gain the upper hand ahead of a runoff vote next month. He now faces Santos in a runoff on June 15.

  • BEIJING, May 26- Beijing accused the United States on Monday of "unscrupulous" cyber surveillance that included large-scale computer attacks against the Chinese government and Chinese companies. The publication accused the United States of "waging large-scale cyber-attacks" against China.

  • LONDON/ NEW YORK, May 26- Pfizer abandoned its attempt to buy AstraZeneca for nearly 70 billion pounds on Monday as a deadline approached without a last-minute change of heart by the British drugmaker.

  • *Western countries won't back Kabul bid to delay blacklist deadline. KABUL, May 26- Western countries have told Afghanistan its banks will be put on an international blacklist if it does not pass an anti-money laundering law within the next few weeks, the central bank governor told Reuters on Monday.

  • LONDON, May 26- AstraZeneca welcomed Pfizer's decision to abandon an attempt to buy the British drugmaker, which AstraZeneca said would allow it to focus on its growth as a standalone business. "We note Pfizer's confirmation that it no longer intends to make an offer for AstraZeneca.

  • ST PETERSBURG, Russia, May 26- Russia's Inter RAO is studying the possibility of building the world's largest coal-fired power plant to sell electricity to China in a sign of strengthening economic and political ties between the two countries.

  • DIARY - Top economic Events to June 10 Monday, 26 May 2014 | 10:52 AM ET

    Speakers:- Swiss Finance Minister Eveline Widmer-Schlumpf, former Austrian Finance Minister Maria Fekter and IMF's Chief of World Economic Studies Division in Research Department Thomas Helbling. TOKYO- Bank of Japan releases the minutes of its April policy-setting meeting- 2350 GMT.

  • Five big challenges for Modi's new government in India Monday, 26 May 2014 | 10:51 AM ET

    NEW DELHI, May 26- Hindu nationalist Narendra Modi was sworn in as India's prime minister on Monday, taking charge of the world's largest democracy as it struggles with an economic slowdown and a severe shortage of jobs for its booming young population.

  • LONDON/ NEW YORK, May 26- Pfizer said on Monday it had abandoned its current attempt to buy AstraZeneca for nearly 70 billion pounds as a deadline approached without a last-minute change of heart by the British drugmaker. Its decision to quit the stage, at least for now, had been widely expected after AstraZeneca refused its final offer of 55 pounds a share.

  • *Sony to use PlayStation to expand $2 billion network business. TOKYO, May 26- Sony Corp aims to step up sales of its PlayStation 4 game console to drive growth in its network services such as streamed games and video and recapture the momentum its hardware business has lost against rivals such as Apple and Samsung Electronics.

  • *Central Bank says ready to act to minimise volatility. NAIROBI, May 26- Kenya's central bank has signalled its intent to defend the ailing shilling by selling dollars and says it has deep enough foreign reserves to cushion the currency against shocks.

  • *Huge task for Poroshenko to square pro-West move with Moscow.

  • Pfizer walks away from $118 bln AstraZeneca deal Monday, 26 May 2014 | 10:14 AM ET

    LONDON/ NEW YORK, May 26- Pfizer said on Monday it had abandoned its current attempt to buy AstraZeneca for nearly 70 billion pounds as a deadline approached without a last-minute change of heart by the British drugmaker.

  • *Italy's FTSE MIB outperforms as Renzi wins EU vote. LONDON, May 26- European equities advanced in thin trading on Monday, with Italian shares outperforming the regional market after voters endorsed Prime Minister Matteo Renzi's centre-left Democratic Party's reforms in European elections.

  • MADRID, May 26- U.S. alternative energy group NextEra has filed a complaint against Spain before the International Centre for Settlement of Investment Disputes over changes to renewable energy rules, the fourth complaint of its kind. The complaint by NextEra, posted on the ICSID website, was filed on May 23.

  • ATHENS, May 26- Greece's ruling coalition will find it harder to push through unpopular reforms demanded under an EU/IMF bailout after a clear EU election victory by the radical leftist Syriza party.