AP - World stock markets fell Monday as some investors worried that the three-month rally in share prices may not be justified by economic indicators and as the dollar was boosted by comments this weekend from Russia's finance minister.
LONDON — The euro and European shares fell for a second day on Tuesday as investors worried about the uncertainty over a bailout for Cyprus aimed at preventing a debt default and banking collapse.
Cyprus’s revised draft bill for a levy on bank deposits scraps the measure for savings under 20,000 euros but does not compensate for the resulting lost revenue by raising it for the wealthy.
Steve Reitmeister submits:You could say the market made two big steps forward in September and October. And now we are taking a step back in November., So let the double dippers and doomsayers beat their chests for a while. They need an ego boost after being so wrong, for so long. The simple fact remains that the economy is getting healthier and corporate earnings are on the rise. Those are the two greatest predictors of future share price performance.
Greek stocks and bonds declined as Germany’s finance minister voiced skepticism a funding deal was within reach. Russia’s ruble strengthened in the second day of a cease- fire in Ukraine and Brent crude rose to the highest level in almost two months.
Global stock markets rose sharply on Monday as the dollar weakened, mirroring surging commodities, while signs of a possible international battle for British confectioner Cadbury focused traders' minds.In London, the share prices of heavyweight miners surged as gold futures reached a record high point, close to 1,170 dollars an ounce, while Cadbury hit a two-year high on reports Swiss food giant Nestle is weighing up a bid for its rival.