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Tuesday 16th June

Tuesday 16th June
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European shares finished flat. Among the influences was the latest survey from the ZEW economic think tank which showed that German analyst and investor sentiment rose in June to its highest level since May 2006.

From the US there was better than expected housing data with increases in new home starts and applications for building permits, but industrial production there slid a steeper-than-predicted 1.1 percent in May from the prior month. Energy companies benefited from oil prices up two percent as the dollar remains under pressure. Banks lost value trimming some of their recent strong gains. Investors are worried about their balance sheets because the largest Greek lender, National Bank of Greece, said it plans to raise one and a quarter billion euros with new shares.