-
Benzinga Market Primer, Wednesday October 3
Wednesday, October 3, 2012 - 6:09am | 849Read More...U.S. equity futures were effectively flat in early Wednesday trading as the eurozone's services sector contracted slightly less than expected in September, despite severe weakness in Spain and France and slight weakness in Germany. The eurozone-wide PMI rose to 46.1 in September, higher than August...
-
Benzinga Market Primer, Tuesday October 2
Tuesday, October 2, 2012 - 6:09am | 900Read More...U.S. equity futures rose in early Tuesday trading as the Royal Bank of Australia somewhat surprisingly eased policy overnight and peripheral pressures in Europe continued to subside. The Royal Bank of Australia overnight cut its benchmark interest rate 25 basis points to 3.25 percent, warning that...
-
Benzinga Market Primer, Monday October 1
Monday, October 1, 2012 - 6:16am | 834Read More...U.S. equity futures rose in early Monday trading as Europe's manufacturing sector shrank less than previously thought in September and Spain's bank stress tests showed that its financial sector needs less capital than previously thought. The benchmark Eurozone Manufacturing Purchasing Managers...
-
Rajoy to Unveil Spain's 2013 Budget Amid Euro Decline
Thursday, September 27, 2012 - 3:05pm | 314Read More...The euro continues to steadily decline against the U.S. dollar, closing the market Wednesday at 1.2874. According to CNBC, prices were expected to rise Thursday morning in anticipation of Prime Minister Mariano Rajoy's unveiling of Spain's 2013 budget. Amid violent protests, Rajoy is expected...
-
Bundesbank to Contest ECB Bond Purchases in Court, Pressure Mounts on Spain
Tuesday, September 25, 2012 - 12:00pm | 801Read More...Late Tuesday, reports surfaced that the Bundesbank was preparing a lawsuit against the European Central Bank claiming that the ECB is violating its mandate in launching the latest round of bond purchases, known as the Outright Monetary Transactions. Unlike the Federal Reserve, which has a dual...
-
Benzinga Market Primer, Tuesday September 11
Tuesday, September 11, 2012 - 8:21am | 663Read More...U.S. equity futures rose in early Tuesday trading as hopes of further stimulus from the Federal Reserve on Thursday boosted risk appetite. Investors also await the ruling of the German Constitutional Court tomorrow on the legality of the European Stability Mechanism and the Fiscal Pact. Should the...
-
Spain Prepares for Bailout as Monti Primes the Printing Press
Monday, August 6, 2012 - 9:54am | 560Read More...Following last Thursday's press conference and interest rate decision, Spain may need to submit to a full sovereign bailout to receive any further European support for its finances. The news follows weeks of discussion over the mechanics of a banking sector bailout for Spain, which would add...
-
All May Not Be Lost Following Draghi's Inaction
Thursday, August 2, 2012 - 3:27pm | 660Read More...At first glance, traders seem to be disappointed with the European Central Bank President Mario Draghi's decision not to launch a new round of bond purchases. However, hidden inside the rhetoric lies a concrete plan for Draghi to save the Eurozone and protect the euro. Draghi stated, "Risk premia...
-
More Austerity for Spain
Wednesday, July 11, 2012 - 12:38pm | 389Read More...The Wall Street Journal reported on the new austerity measures being implemented in recession-stricken Spain on Wednesday morning. Spanish Prime Minister Mariano Rajoy announced measures that will help the country cut its budget deficit by 65 billion euros, or $79.62 billion through 2015. He also...
-
Spain's Bad Loans Jump
Tuesday, June 19, 2012 - 3:15pm | 290Read More...According to new data released by the Bank of Spain, bad loans as a percent of total lending jumped to 8.72 percent in April from 8.37 percent in March. This compares to 6.36 percent a year ago, and is the highest reading since 1994. The Bank said that $6.1 billion soured in April. The bad-loans...
-
Spain Says It Intends to Miss Promised Budget Targets
Friday, March 2, 2012 - 11:11am | 923Read More...Shortly after signing an agreement with 25 other European Union leaders for a new fiscal treaty that would punish euro zone countries that failed to meet budget targets, Spanish Prime Minister Mariano Rajoy dropped the bombshell that Spain was going to run a bigger 2012 deficit than the one it had...
