The Spanish PM has strongly denied claims that he and other members of the governing party received secret payments. "I have never received or distributed 'black money', it's false," he said, stressing that he would not resign.
The Spanish PM has strongly denied claims that he and other members of the governing party received secret payments. "I have never received or distributed 'black money', it's false," he said, stressing that he would not resign.
European shares inched up on Friday, as investors took advantage of the past two sessions' losses to snap up equities more cheaply, reassured by a run of solid data from China, Europe and the United States.
Spain's largest banks have reported dismal results over the past 24 hours, hit by toxic real estate assets, and according to analysts, the results highlight the desperate need for Spain's banks to raise more capital.
Spain's short-selling ban came to an end on Thursday but analysts say that although the lifting of the ban is a sign of improved sentiment, further downward pressure should be expected in the coming weeks.
A leading pan-European stock index fell on Thursday, hit by drops in brewing group AB Inbev and oil major Shell, and some expected further weakness in the near term.
Dirk Becker, head of banking sector research at Kepler Capital Markets in Frankfurt, says Deutsche Bank could have achieved the jump in its capital ratio by selling risk positions.
Spanish Prime Minister Mariano Rajoy is expected to announce stimulus measures as soon as Friday and the EU looks willing to ease budget deficit targets for Madrid, but it could all be in vain as the debt mounts up, according to an HSBC economist.
Roelof van den Akker, technical analyst at ING Wholesale Banking, takes a technical look at the DOW transportation index, the US 30-year T-Bond future and the euro/dollar exchange rate.
Jamie Dannhauser, senior economist at Lombard Street Research, says Spain's priority should never have been fixing the fiscal deficit, commenting on the Spanish stimulus measures to be unveiled later this week.
With record unemployment figures, a fractious political scene, years of declining retail sales and Wednesday's depressing growth data, Spain appears to be sinking. Yet an improvement in risk appetite and falling borrowing costs continue to prop up the economy.
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