Now Reading:

Share prices boosted by positive news


Share prices boosted by positive news


European share prices have bounced back on Wednesday after euro zone finance ministers agreed to safeguard banks from the spreading sovereign debt crisis and an IMF director said it might offer support by buying Spanish and Italian government bonds.

Even the Milan bourse is performing well, despite Moody’s lowering Italy’s credit rating because of its high levels of debt, something which made analyst Robert Halver of Baader Bank in Frankfurt suspicious.

He said: “Italy is one of the most important dominos of the euro zone and my impression is that the American rating agencies are about to let these dominos fall which would have tremendous consequences for the euro zone. My impression is that America is about to distract from its own problems, pointing the finger at Italy and the euro zone. That’s not fair.”

Also boosting investor sentiment was a report that the inspectors from the EU, International Monetary Fund and European Central Bank are likely to recommend releasing Greece’s next instalment of bailout money.

There was additional good news from the US where the services sector slowed, but not as badly as feared, and private-sector employers added more jobs than expected in September.
Oil prices jumped but the euro remains near a nine-month low against the dollar.  

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article