Wall Street off as Europe hopes fade
Stocks fell on Wednesday as hope faded that banks would use the European Central Bank's massive funding operation to buy regional sovereign debt and help mend the deep-rooted debt crisis.
Europe's Markets Pare Gains Wednesday at Mid-Day Following ECB Intervention
Europe's banks borrowed nearly €490 billion or $637 billion from the European Central Bank at its first-ever offer of three-year loans on Wednesday, encouraging demand for the euro and stocks on hopes the funding will ease the two-year old debt crisis. On Wednesday at mid-day, London's FTSE 100 was down 25 points to 5,393, Germany's DAX was down 29 points to 5,819, and France's CAC 40 was off 22 points to 3,033.
Banks take 489 billion euros in 3-year ECB loans
Banks took a huge 489 billion euros at the European Central Bank's first ever offering of three-year funding on Wednesday, raising hope a credit crunch can be avoided and that the money may be used to buy Italian and Spanish bonds.
Europe in 2012: Renaissance or Lingering Dark Ages?
The outlook for Europe looks gloomy especially after the European Central Bank (ECB) warning that risks to euro area financial stability increased considerably in the second half of 2011, as the sovereign risk crisis and its interplay with the banking sector worsened in an environment of weakening macroeconomic growth prospects.
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Euro, stocks rise on Germany hopes; capped by crisis
European shares and the euro rose on Tuesday on unexpectedly good news about the German economy's prospects, but concerns about problems policymakers are having in tackling the euro zone debt crisis limited gains.
Highlights: ECB's Draghi says euro is irreversible
Below are highlights of comments made by ECB President Mario Draghi in testimony to the European Parliament on Monday.
Eurozone to pursue IMF lending plan
European finance ministers will pursue plans on Monday to enhance the IMF's arsenal and press on with a drive for tighter fiscal rules in an attempt to assuage doubts they can overcome their sovereign debt crisis.
Gold Barely Moves as Chinese Demand Offsets Euro Fears
Gold prices hovered in a tight range Monday as doubts that Eurozone banks have enough access to cash and the uncertainties about the severity of the continent's recession offset physical demand from Asian buyers.
Eurozone to pursue crisis action
European finance ministers will pursue plans on Monday to enhance the IMF's arsenal and press on with a drive for tighter fiscal rules in an attempt to assuage doubts they can overcome their sovereign debt crisis.
Eurozone to Pursue Crisis Action; Fitch Doubts Outcome
The euro zone will tackle its debt crisis this week by offering more cash to the IMF and long-term liquidity to banks, while moving toward tighter fiscal rules, after ratings agency Fitch cast doubt on its capacity to respond decisively.
U.S. housing heals even as its damage widens
The U.S. housing market, once the epicenter of the global financial collapse that spawned today's European debt crisis, is on the verge of delivering some positive news.
Eurozone to push on with crisis steps, Fitch doubts outcome
The euro zone will pursue measures to tackle its sovereign debt crisis this week by offering more cash to the IMF and long-term liquidity to banks, while moving towards tighter fiscal rules, after ratings agency Fitch cast doubt on it ability to forge a decisive response.
Analysis: More euro zone banks risk money markets freeze
Even the safest euro zone banks could start queuing up at the European Central Bank for cash in the next few months as their massive exposure to government debt freezes them out of money markets.
Fitch May Cut France, 6 other Eurozone Countries
Fitch Ratings on Friday warned it may downgrade France and six other Eurozone countries as it believes that a comprehensive solution to the region's debt crisis is technically and politically beyond reach.
Fitch Says Comprehensive Eurozone Deal 'Beyond Reach'
Credit rating agency Fitch told the Eurozone on Friday it thinks a comprehensive solution to the bloc's debt crisis is beyond reach, as it put an number of the bloc's economies including Italy on watch for potential downgrades.
Oil Prices - Neither Bulls Nor Bears Able to Make Conclusive Case
Oil, the lifeblood of the global economy, has plunged more than 10 percent in the past five days, to about $93 per barrel Friday, and the compelling question for investors and motorists alike is -- in early 2012 where does oil head?
France Upgrades Attacks on Britain’s Economy
Baroin told the French parliament that Britain is becoming “marginalized” in Europe.
U.S. Agrees to Limit Medical Research on Chimpanzees
The U.S. National Institutes of Health (NIH) will sharply curtail medical research studies using chimpanzees, humans' closest relative in the animal kingdom, after an expert panel said such studies are rarely warranted.
As U.S. Economy Gains Steam, Hopes Pinned on Eurozone
The threat of Europe's financial crisis drifting overseas, slowing the U.S. recovery, remains. The Federal Reserve noted this week that Europe's debt crisis remains a threat to the U.S. economy, which it said is expanding moderately. Concerns linger over the health of the European banking sector and possible ratings downgrades in debt-ridden European countries.
Asian Shares and Euro Gain on Upbeat U.S. Data
Asian shares rose and the euro edged higher Friday, as signs of strength in the U.S. economy temporarily broke through gloom over the European debt crisis that had driven a selloff in riskier assets over the past three days.
Nikkei, Asia Markets Close Sharply Lower Thursday on Europe Debt, Global Slowdown Concerns
Major Southeast Asian stock markets fell on Thursday for the third day, led by banks and commodities as a decline in Chinese factory output added to worries about the global economy and Europe's debt crisis.
Greece May Begin Official Talks to Exit Eurozone in 2012
Greece, one of the worst hit countries in the Eurozone crisis, may begin official negotiations to exit the Eurozone in 2012, according to Oliver Pursche, co-portfolio manager of GMG Defensive Beta Fund.
European Debt Woes Prompt Year-End Flight from Risk in Asia
Asian shares fell into bear market territory for the year and commodities and the euro nursed stinging losses Thursday, after fears that Europe's debt crisis is still worsening prompted investors to dump riskier assets and huddle in the safety of the dollar and Treasuries.
IMF Says Greece Must Move Faster on Reforms
The International Monetary Fund stepped up pressure on Greece on Wednesday, saying promised reforms were behind schedule in most areas and the delays were stalling recovery from years of recession.
Europe's Markets Close Sharply Lower Wednesday on Fiscal Debt Concerns
European stocks fell on Wednesday as weak commodity prices sparked a selloff in the energy and materials sectors and as a falling euro and high Italian bond yields kept Europe's debt crisis in focus.
Euro zone anxiety sparks selloff in risky assets
Stocks fell on Wednesday as weak commodity prices sparked a selloff in the energy and materials sectors and as a falling euro and high Italian bond yields kept Europe's debt crisis in focus.
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