Spanish stocks rebounded Thursday while the pressure on the country's government bonds eased, as investors reacted positively to the government's confirmation that it will nationalize the country's fourth largest bank.
MADRID (AP) -- Spanish stocks rebounded Thursday while the pressure on the country's government bonds eased, as investors reacted positively to the government's confirmation that it will nationalize the country's fourth largest bank....
LONDON: The dollar took a breather on Thursday after hitting its highest level against the yen since 2002, and stocks stuttered as high-flying Chinese shares tumbled and European officials downplayed talk of an imminent deal to keep Greece afloat. Commodity markets rebounded as the dollar's momentum waned and though the euro clung to hopes of an agreement on Greece, the bloc's shares and lower-rated government bonds all lost ground. A Greek government official had sparked speculation late on Wednesday that a deal had been drawn up.
And it all started off so promisingly, when after the biggest selloff in US stocks in two months, the BOJ and its preferred banks once again sold 6J (i.e., bought USDJPY) in the morning Japan session (while collecting CME liquidity rebates of course), sending the pair from below 108 to half the way to 109, and naturally taking global futures higher while pushing yields lower when as ITC says a "large TY seller knocked USTs to lows during the session" - hmmm, wonder who the large seller was. And then...
Repsol SA has revived talks with Talisman Energy Inc., people with knowledge of the matter said, as the Spanish company seeks acquisitions to bolster its presence in North America even as oil prices tumble to five-year lows.
LONDON: Whisper it, but the next challenge for financial markets and policymakers may not be deflation, but the remarkable surge in oil prices from the six-year low touched in January. Since then, Brent crude futures have risen 45 per cent. If that is sustained or even increased throughout this year, inflation next year could rise significantly, posing questions for policymakers largely committed to ultra-loose policy. No fewer than 27 central banks around the world have eased monetary policy to some extent this year in a battle against deflation, slowing growth or both.
London (AFP) - German and French stock markets rebounded strongly Wednesday after upbeat comments from ECB head Mario Draghi but the euro hit new multi-year lows on expectations of a US rate hike. Frankfurt's DAX 30 index hit a new record-high at 11,718.41 points before easing slightly to 11,702.69, a gain of 1.76 percent from Tuesday's close.
Crude oil front month futures contracts rebounded during trading on Wednesday, signaling investors of the futures bottoming out. The rebound from Wednesday continued into the early hours of trading Thursday. However, the rebound was short lived and the futures slumped once again, ending the trading session in the red.
The euro and European stocks rallied strongly on Wednesday and pressure on Spain eased, but the eurozone debt crisis weighed heavily with a credit watch for Portugal and Germany struggling to sell bonds.Leading EU figures warned that financial markets were underestimating the will of EU leaders and institutions to defend the euro and the eurozone.But in a new sign of the extent of anxiety among investors, a German bond issue was undersubscribed.