FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

World stocks, euro slide on rising Spain tensions Vote_lcap68%World stocks, euro slide on rising Spain tensions Vote_rcap 68% [ 178 ]
World stocks, euro slide on rising Spain tensions Vote_lcap18%World stocks, euro slide on rising Spain tensions Vote_rcap 18% [ 47 ]
World stocks, euro slide on rising Spain tensions Vote_lcap13%World stocks, euro slide on rising Spain tensions Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» SCAP just about to run
by nish84 Today at 12:57 am

» CLC - Bull & Bear LOCKED HORNS - can blast at any time.
by soileconomy Today at 12:01 am

» LMF target price+++++
by buddikasmart Yesterday at 11:34 pm

» BUY and HOLD CLC Possible to trade above 300/- [CLC= NIFL]
by Peris.G Yesterday at 10:28 pm

» LOFC Direction
by RAVI1980 Yesterday at 10:08 pm

» CLC - worth the Investment
by jaya Yesterday at 9:38 pm

» is KCAB going for a split?
by dimi Yesterday at 7:16 pm

» LMF vs LAMP
by C.THARANGA Yesterday at 6:46 pm

» NP Rumored to enter SCAP
by Swissinvest Yesterday at 5:48 pm

» COCR can be attractive
by chandike73 Yesterday at 4:24 pm

» SOFTLOGIC CAPITAL PLC (SCAP.N0000)
by nish84 Yesterday at 4:13 pm

» LLUB comparison between 2016- 2021 Same EPS Trading at Huge discount
by samansilva Yesterday at 2:16 pm

» Shares to Buy
by PhilT Yesterday at 1:59 pm

» CLC placed on a Slingshot . . . !!!
by Elite_SGX Yesterday at 11:48 am

» CLC – the Pinnacle of LOCH
by Elite_SGX Yesterday at 11:48 am

» CLC getting ready for Singapore
by Elite_SGX Yesterday at 11:47 am

» NATIONAL DEVELOPMENT BANK PLC (NDB.N0000)
by ADAD Yesterday at 11:44 am

» AGAL - Long way to go !
by Nimal hemantha perera Yesterday at 11:43 am

» East West ltd
by chandike73 Yesterday at 11:40 am

» BAIRAHA FARMS PLC (BFL.N0000)
by hotstock Yesterday at 11:32 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » World stocks, euro slide on rising Spain tensions

World stocks, euro slide on rising Spain tensions

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

AFP – 48 minutes ago

World stocks fell sharply, the euro hit a 12-year low versus the yen and Spanish borrowing costs struck record highs Monday on speculation Spain could soon require a full state bailout, traders said.

"There are fears that Spain is edging closer to being forced to seek a full scale bailout, having secured 100 billion euros ($121 billion) to help recapitalise its banks," said Joshua Raymond, chief market strategist at City Index traders.

All eyes were also on bailed-out Greece, with auditors from the European Union, International Monetary Fund and the European Central Bank due in Athens this week for another inspection of the new government's economic programme.

The report will determine whether Greece will receive fresh loans of 31.5 billion euros by September due under its debt rescue programme.
German Finance Minister Wolfgang Schaeuble warned Greece in a newspaper interview Monday that it must redouble efforts to comply with bailout conditions imposed by international creditors.

"If there were delays, Greece must make up for them," he told the daily Bild.

London's FTSE 100 (Euronext: VFTSE.NX - news) benchmark index of leading shares dropped 1.61 percent at 5,560.69 points nearing midday. Frankfurt's DAX 30 (Xetra: ^GDAXI - news) index shed 1.40 percent to 6,537.16 points and in Paris the CAC 40 (Paris: ^FCHI - news) slid 1.69 percent to 3,139.74 points.

Madrid's IBEX 35 (Madrid: IBEX.MC - news) index plunged more than 5.0 percent and Athens dived over 6.0 percent.
"After a pretty week of inspiring corporate results, investors are again looking at the markets through the lenses of the euro crisis," said Anita Paluch, a trader at Gekko Global Markets.

In foreign exchange deals, the European single currency fell to a six-week low at $1.2082. It later stood at $1.2102, compared with $1.2152 in New York (Frankfurt: A0DKRK - news) late Friday.

The euro also slumped to its lowest level against Japan (EUREX: FMJP.EX - news) 's safe-haven currency in almost 12 years -- hitting 94.24 yen.

"The traditional safe haven currencies of the yen and US dollar have strengthened overnight reflecting heightened investor concern over the escalating eurozone sovereign debt crisis," said Lee Hardman, currency analyst at The Bank of Tokyo-Mitsubishi UFJ in London.

Spanish long-term borrowing costs jumped to record highs on Monday as investors turned increasingly sceptical about government efforts to stabilise a stricken banking system and the public finances.

The yield -- the rate of return -- on the benchmark Spanish 10-year government bond jumped to 7.466 percent from 7.225 percent on Friday, well above the 7.0 percent danger level for long-term funding.

"Investors fear that the eurozone's fourth largest economy is soon to follow Greece, Ireland (Xetra: A0Q8L3 - news) , and Portugal in requesting emergency funding, with yields on ten-year debt fast approaching 7.5 percent," said Spreadex trader David White.

"Stock markets around the world are feeling the chill of Spain's developing crisis, and stocks trading in Asia ... were no exception."
With borrowing costs hitting the danger levels that forced Ireland, Greece and Portugal to seek a bailout, investors are concerned that Spain, one of the eurozone's biggest economies, will also have to call in help.

Spain's economic slump meanwhile deepened in the second quarter of 2012 as consumers cut back spending, the bank of Spain said Monday.
Gross domestic product shrank 0.4 percent in the second quarter from the previous three months, after contracting 0.3 percent in the first, the central bank said in its latest monthly bulletin.

In Asian trade, Hong Kong led the losses by closing down 2.99 percent. Tokyo shed 1.86 percent, Seoul lost 1.84 percent and Sydney dropped 1.67 percent.

Market players were spooked after one of Spain's indebted regions, Valencia, said it would ask the central government for financial support, while officials in Madrid warned that the economy would likely contract through 2013.

Reports that Murcia would also seek help were rejected.

"Europe (Chicago Options: ^REURUSD - news) is definitely a drag on risk assets again this week as investors are worried that Spain's debt burden could be bigger than expected and that a full bailout may be required," said Peter Esho at City Index in Australia.

European leaders on Friday agreed to grant Spain's banks bailout cash of up to 100 billion euros but despite this there are fears that the country would need extra cash to help service its debts.

The soaring yields on 10-year bonds come as unemployment sits at 24 percent and the government tries to implement further austerity measures.
Without better economic news the country could lose access to debt markets, leading it to a bailout, which some analysts have said could cost up to $500 billion.
http://uk.finance.yahoo.com/news/world-stocks-euro-slide-rising-102838834.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum