Shares in French Bank Credit Agricole fell in early Paris trade on Friday after the group announced it took a hit in the second quarter for an expected loss at its Greek Emporiki Bank unit and its participation in an EU-led rescue plan for Greece.
Italian bank shares were sharply lower in Wednesday morning trade after Reuters reported German Finance Minister Wolfgang Schaeuble said the euro zone's rescue fund should only purchase bonds on the secondary market in exceptional circumstances.
The euro zone economy is recovering at a growth rate which is "above potential", albeit "not very strongly", European Central Bank Executive Board Member Lorenzo Bini Smaghi told CNBC on Tuesday.
Investors should buy dips in solid corporate stocks with strong balance sheets rather than look for value in the volatile banking, sector for which the outlook remains very uncertain, Chris Tinker, co-founder of Libra Investment Services, told CNBC on Monday.
A new wave of deal making will continue despite a slowdown in merger and acquisition-related activity in June, UBS said on Wednesday, adding investors should be sanguine about the weakness in the second quarter and simply acknowledge that there will be dips in what it says are still strong figures.
European authorities need urgently to increase the size of resources available to indebted European countries faced with liquidity problems if they want to avert disaster, Willem Buiter, Chief Economist at Citi told CNBC on Tuesday.
News Corporation’s contentious proposed takeover of BSkyB is “all but dead” following the phone hacking scandal that hit the Murdoch-owned group’s British unit News International (NI), Alex DeGroote, analyst at Panmure Gordon said on Monday, as the deal comes under intense scrutiny from regulators.
European leaders arriving for a summit in Brussels on Thursday reinforced calls for Greece to push ahead with austerity measures in return for further financial aid and called on the country to stand united as opposition to the measures grows.