The CEO of UniCredit has told CNBC the bank will focus on "growth and profitability" after reporting a record annual net loss of $19.4 billion.» Read More
*Gold edges higher on limited safe haven demand. LONDON, Oct 1- The first U.S. government shutdown in 17- years weakened the dollar on Tuesday, sending it to an eight-month low against the euro, but met a subdued response from investors in equity and fixed income markets.
PARIS, Oct 1- European shares rose in early trade on Tuesday, bouncing from three-week lows in the previous session, although gains were limited by a partial shutdown of the U.S. government. At 0730 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 1,250.09 points.
LONDON, Oct 1- European shares edged higher in early trading on Tuesday but stayed near a three-week low hit on Monday, with nervous investors looking for signs a shutdown of the U.S. government would be resolved soon.
MILAN, Sept 30- Investors shunned Italian government bonds and shares on Monday after Silvio Berlusconi pulled the rug from under Prime Minister Enrico Letta's frail coalition government by ordering five centre-right ministers to quit. Italy's political strife may ripple beyond the country's borders, particularly if new elections result.
PRAGUE/ SOFIA, Sept 27- Emerging European economies are set for a tepid recovery that won't restore them to the pre-financial crisis boom years but should let them weather the withdrawal of cheap money from the Federal Reserve.
MILAN, Sept 26- Italy paid the lowest yield since May on Thursday to sell six-month bills as the ECB's pledge to keep short-term market rates low helped it shrug off reviving domestic political tensions ahead of a sale of longer-term bonds. Italy sold the planned 8.5 billion euros in bills at an average 0.78 percent yield, down from 0.89 percent a month ago.
LONDON/ NEW YORK, Sept 23- A flood of new orders gave a boost to European and Chinese firms in September although weakness in U.S. factory activity tempered evidence of a healing global economy.
Moody's remains the only one of the three big agencies to class Ireland as "junk", but its move to lift the rating outlook to stable from negative is against a trend of mostly negative rating actions against euro zone sovereigns in recent years.
LONDON, Sept 23- A flood of new orders gave a boost to European and Chinese firms in September, according to a clutch of surveys which added to evidence that the global economy is healing. Euro zone economies are gradually emerging into a recovery that is sustainable, "said Philip Shaw at Investec.
*Libya's GDP could grow 5 pct vs 18 pct IMF forecast: governor. TRIPOLI, Sept 16- Libya's economy could grow just 5 percent instead of around 18 percent predicted by the IMF this year if the country cannot end protests that have all but halted its oil exports, its central bank governor told Reuters.
ROME, Sept 16- An opinion poll on Monday showed Silvio Berlusconi's party falling behind its centre-left rivals and could undermine the media tycoon's temptation to bring down Italy's shaky coalition government over his tax fraud conviction.
Alexander Proschofsky, the leader of a shareholder revolt against Julius Meinl over the management of his bank, is a rare example of an activist investor in a culture where consensus is the norm.
Italy's FTSE MIB traded down 2.5 percent on Monday after members of Berlusconi's center-right People of Freedom (PDL) party threatened over the weekend to bring down Prime Minister Enrico Letta's government.
Commerzbank Chief Financial Officer Stephan Engels said the default of Detroit had dented second-quarter earnings, adding that the lender had made "adequate" provisions.
Italy's largest bank posted better-than-expected net profit on Tuesday, despite setting aside 1.7 billion euros ($2.3 billion) to cover losses on bad loans.
French bank Natixis posted second-quarter profit and revenue that beat estimates on Tuesday, after rival Credit Agricole reported results that also topped forecasts.
Expectations for a rate cut in the euro zone soon and domestic bond purchases announced by the Bank of Japan have lifted the mood on debt markets, pushing investors to take more risk in exchange for higher returns.
Journalists seem to be outnumbering Cypriots standing in lines at banks in Nicosia. That's good news, right?
Small companies struggling to repay loans in Italy and Spain signal bigger problems on the horizon for the euro zone after the dust has settled on Cyprus's last-ditch bailout.
There is serious damage accumulating in European banks, yet at least for today, Cyprus isn't all to blame.