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European shares dropped on Wednesday as fresh concern about the impact of the credit crunch on the banking sector hit financial shares, while a late spike in the oil price rekindled worries about inflation.
A year after financial tremors first shook Wall Street, a crucial artery of modern money management remains broken. And until that conduit is fixed or replaced, borrowers will see interest rates continue to rise even as availability worsens for home mortgages, student loans, auto loans and commercial mortgages, says the New York Times.
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European shares ended with losses on Tuesday as the region's financial stocks suffered following further writedowns from the third-largest U.S. bank JPMorgan.
As Wall Street’s troubles continue, big investment banks are moving some key employees to increasingly influential hubs of finance in Asia, the Middle East, Europe and Latin America, the New York Times reports.
American International Group, the world's largest insurer, may have to raise more capital to bolster its balance sheet if its credit ratings are cut again, Goldman Sachs analyst Tom Cholnoky said in a note to clients.
European shares rose to six-week highs on Monday as the euro boosted exporters such as automotive stocks, while fighting between Russia and Georgia gave early support to crude oil prices that helped the energy sector.
With the Fed likely to keep interest rates steady and the economy showing no signs of rebounding soon, investors are looking beyond stocks to find safer returns.
European shares ended a volatile session with gains on Friday as a sharp drop in crude oil more than offset initial disappointment over earnings from U.S. home lender Fannie Mae.
European shares ended Thursday's choppy session down slightly as concern about the reach of the credit crunch offset a potentially supportive shift in market expectations for no more euro zone rate rises this year.
European stocks rose on Wednesday, with banks gaining ground after BNP Paribas delivered better-than-expected earnings and commodities rallying after Xstrata launched a $10 billion bid for Lonmin.
European stocks gained on Tuesday to snap a three-day losing streak thanks to a drop in oil prices and better than feared results from Societe Generale that lifted banks ahead of a U.S. rate decision.
European shares fell for a third straight day on Monday, as results from HSBC hit financial stocks and a broad-based decline in metal prices dented the mining sector.
European stocks fell on Friday, knocked lower by a sharp drop in mining shares that followed falling metal prices, while automakers retreated after a profit warning from BMW and GM's massive loss.
The Nikkei 225 Average fell 2.2% on Friday, as electronics maker NEC Corp plunged 14 % on a sharp drop in quarterly earnings and a ratings cut by a brokerage, while banks slid on sharp profit declines.
European shares ended sharply higher on Wednesday, lifted by upbeat results from industrial bellwethers Siemens and ArcelorMittal, while financials rose after major central banks expanded liquidity-boosting measures.
European shares ended higher on Tuesday, snapping a three-day losing streak after data showed a rise in U.S. consumer confidence, though banks limited gains due to worries over more writedowns linked to a credit crisis.
Mst major indexes across Europe saw red arrows Friday, with Russia sinking the most after the country's prime minister launched an attck on a steel giant.
European stocks fell on Thursday, giving up most of the previous day's gains as cuts in annual forecasts from Daimler and Renault hit autos and weakening commodities dragged oils and miners lower.