CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the German Dax rises for the tenth straight session and European Commission president Jean-Claude Juncker unveils a "pea-shooter."» Read More
European stocks finished the week in the green after stronger-than-expected U.S. durable goods orders and new home sales data on Friday pushed back fears of a spillover of the credit markets crisis to the wider economy.
The owners of stricken state lender SachsenLB aim to sell the German bank quickly after its near collapse under heavy losses from U.S. subprime mortgages and other risky debt, sources familiar with the matter said.
The European Central Bank is not set on raising rates in September, and its recent reference to its Aug. 2 policy statement was intended to keep options open, national central bank officials have told Reuters.
France on Friday kept up the pressure on the European Central Bank to take account of global financial market turmoil and economic growth when setting interest rates, and said a September rate rise was not a done deal.
Euro zone private sector growth cooled in August as factory order growth hit its weakest since late 2005 and a credit squeeze in financial markets bruised service sector confidence, key data showed on Friday.
German Finance Minister Peer Steinbrueck was quoted on Friday as saying there was no vidence at present that the country's banking sector faced further problems from the credit crisis.
Moody's Investors Service said German state-owned Landesbanks were very rich in liquidity as a group and would not need to seek liquidity support either individually or as a group from a regional government.
Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn that the tremors would take time to settle, and the European Central Bank was inundated with demand at a new money market tender.
Deutsche Bahn is in a good position to sell a stake in the state-run rail operator in a public stock offering, its chief executive said Thursday.
Germany posted a public sector budget surplus in the first six months of 2007, the first time it has achieved this in the January-June period in nearly two decades, the Federal Statistics Office said on Thursday.
The pace of growth in Europe's biggest economy slowed from the first quarter to the second quarter, the German government said Thursday as it issued its final numbers on growth for the country of 82 million people.
ProSiebenSat.1 Media said second-quarter operating profit rose 6% to 140.4 million euros ($189.54 million) as it cut costs but revenues remained flat.
A global credit crunch pushed German investor morale to its lowest level in eight months in August, raising pressure on the European Central Bank (ECB) to keep interest rates on hold for the time being.
German banks face a critical situation because foreign banks are reluctant to lend to them after the joint rescue of small-company lender IKB, state-backed lender WestLB's chief executive said.
German producer price inflation dropped last month to its lowest level since early 2004, pushed down by falling energy prices, according to government figures released Friday.
French President Nicolas Sarkozy has written a letter to German Chancellor Angela Merkel, saying that authorities must be "very vigilant" over financial market corrections, according to the letter published on Thursday.
Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.
Deutsche Telekom will cut more jobs when a self-imposed moratorium expires at the end of 2008, the company said Wednesday.
German economic growth cooled slightly in the second quarter, with gross domestic product expanding by 0.3%, according to government figures released Tuesday.
Dutch chemicals group Akzo Nobel has agreed a deal to buy Britain's ICI for 8 billion pounds ($16.2 billion) to boost its position as the world's biggest industrial coatings maker.