Spanish fishing company Pescanova said early on Friday it would file for insolvency after failing to reach an agreement with its creditors.
Journalists seem to be outnumbering Cypriots standing in lines at banks in Nicosia. That's good news, right?
There is serious damage accumulating in European banks, yet at least for today, Cyprus isn't all to blame.
European shares finished lower Monday, after comments from the head of the Eurogroup who said a Cyprus bailout deal could be a new template for resolving euro zone banking problems.
Shares in Bankia dropped 41.04 percent to 0.148 euros shortly after opening on Monday after Spain's bank restructuring fund valued them at 0.01 euro.
European shares closed higher on Thursday as investors watched to see whether a last-minute deal can avert the $85 billion of automatic spending cuts due in the U.S. on Friday.
Spain's rescued lender Bankia said on Thursday it was in a solid position to return to profit, after writedowns on rotten property assets led it to post Spain's biggest ever corporate loss for 2012.
European shares nudged lower on Friday, though strategists reckoned that any dips in the equity markets should be seen as a buying opportunity.
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.
Technology stocks fell to push European shares lower and send Germany's benchmark DAX index to a 2013 low on Tuesday.
European shares surrendered their gains on Tuesday afternoon and turned slightly negative, tracking losses on Wall Street.
European shares extended gains to set a new 22-month high on Friday, after a better-than-expected U.S. jobs data.
European shares finished mixed Thursday, while the Swiss SMI index soared over 2 percent, catching up on gains following the U.S. "fiscal cliff" deal.
European shares ended in negative territory Friday as investors remained cautious over the looming "fiscal cliff" and following some weak economic reports.
European shares ended mixed Tuesday amid "fiscal cliff" discussions in the U.S., but losses were limited as EU finance ministers met in Brussels to discuss details of a possible banking union.
As data from China and the U.S. showed the global economy slowing sharply, the head of the World Bank warned that the summer of 2012 is looking like an “eerie” echo of 2008, when a collapse of the U.S. mortgage market led to the collapse of Lehman Brothers.
A Spanish plan to recapitalise Bankia, the troubled lender, by indirectly tapping the European Central Bank for cash, was bluntly rejected as unacceptable by the ECB, European officials said, the Financial Times reports.
Spain will eventually need a bailout, as its heavy private debt burden is increasingly weighing on sovereign debt levels, Arnab Das, managing director of market research and strategy at Roubini Global Economics, told CNBC.
Greece will leave the euro zone next year and the country's new currency will "immediately fall by 60 percent," according to Citi chief economist Willem Buiter.