Europe open: Shares of Bankia suspended from trading

Date: Friday 25 May 2012

-Greek Syriza party has 4 point lead in polls
-SDP will not approve fiscal compact without FTT-Der Spiegel
-P5+1 and Iran will meet again in June

FTSE-100: 0.38%
Dax-30: 0.79%
SMI: 0.47%
Cac-40: 0.67%
Ibex 35: 1.14%

European equities have started today’s session higher, following another late-hour reversal higher on Wall Street last Friday. That ahead of Monday’s Memorial Day holiday Stateside which may limit moves today on both sides of the Atlantic.

Acting as a backdrop, Italian Prime Minister Mario Monti last night argued, during a televised interview, that Italy can help to persuade Germany of the need for Eurobonds given that they are in everyone’s interest.

Meantime, and in Greece, the latest polls show the hard-left Syriza party leading in the polls by a 4 point margin. Of note, the mainstream parties seem to have recovered some ground and most Greeks (54%) say that they prefer a coalition. A majority (62%), however, say they oppose the country’s debt deal even while 85% say they wish to remain in the Eurozone.

Trading in Bankia shares suspended

Spanish lender Bankia will ask the state for over €15bn so as to recapitalize itself. Its shares were suspended before the start of trading.

AirAsia may purchase $4bn in aircraft from EADS.

German consumer confidence steady

Germany’s GfK consumer confidence index for the month of June has come in at 5.7, the same as in the previous month, versus expectations for a small drop to 5.6.

French consumer confidence recovered to 90 point level in May, from 89 (Consensus: 88).

Euro and oil hold near recent lows

The euro/dollar is now at 1.2575, higher by 0.3%.

Front month Brent futures are rising by $0.318 to $106.89 per barrel in ICE trading.

AB

« Go back to news channel

..

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE