European shares were called to open lower on Friday, snapping a four-day rally, after Fitch ratings agency downgraded Spain’s sovereign debt by three notches to triple B, just above junk status, and the International Monetary Fund (IMF) was set to warn Spain’s banking system would need a bailout package worth 40 billion euros ($50 billion).
Tensions ahead of fresh elections in Greece on June 17 spilled over in a televised political debate on Thursday when a spokesman for the far right Golden Dawn party physically attacked two female members of parliament from opposing political parties throwing water at one and punches at another.
European shares were called to open higher on Thursday on fresh hopes that German and European Union officials are exploring ways to rescue Spain's debt-stricken banks, although Madrid has not yet requested assistance.
European shares were called to open higher on Wednesday after finance ministers from the G7 major economies discussed progress toward financial and fiscal union in Europe in an emergency call on Tuesday and agreed to work together to deal with problems in Spain and Greece, but took no joint action.
European shares were called to open mixed on Friday as European leaders squabbled over how to resolve the euro zone debt crisis and a slowdown in job creation in the region’s largest trading partner, the U.S., began to show signs of the crisis’ effects on the global economy.
European shares were called to open lower on Thursday as fears that Spain may not be able to rescue its own banks without the aid of an international bailout sparked fears of further crisis within the euro zone and brought the euro to a 2-year low versus the dollar.
European shares were called to open lower on Friday, ending another dismal week for equities, as investors learned that at least half of the euro zone’s member states are making contingency plans for a Greek exit from the single currency.
On the same day official figures showed the biggest slide in retail sales figures in two years and one member of the Bank of England’s interest rate-setting committee indicated it would restart its asset purchase program if the economy weakened significantly, 10-year sovereign debt yields fell to record lows.
European shares were called to open lower sharply lower on Wednesday as investor caution replaced hope ahead of an unofficial European Union summit in Brussels to discuss policy responses to the euro zone crisis.
European shares were set to open higher on Tuesday as investors came to the conclusion that the markets were most likely over-sold and news emerged overnight of around 100 billion euros ($127 billion) of liquidity provided by the European Central Bank to the Greek central bank to prop up Greece’s financial system.