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| | | ... That's the good news. Now for the bad. Credit ratings agencies are playing Edward Scissorhands anew. Fitch Ratings snipped Italy and Spain's credit ratings. Moody's cut the ratings of 12 UK banks citing the removal or lessening of government support ... |
| | | | ... European markets posted similar gains, with Milan gaining nearly 4.0 per cent despite a sharp Moody's ratings downgrade for Italy given its debt and growth problems. The euro was lower at $1.3296, down from $1.3338 in New York late on Tuesday when it ... |
| | | | ... DAX rose 1.10 per cent to 5,639.58 points and Paris 1.07 per cent to 3,027.65 points. Milan jumped 2.07 per cent despite Italy being forced to pay sharply higher interest to borrow funds in its first debt auction since having its credit rating downgraded ... |
| | | | ... was great! Germany's Dax index rallied by 5.3%, France's CAC-40 index by 5.74%, Finland's OMX Helsinki index by 5.1% and Italy's MIB by 4.9%. For greater emphasis, how about the 6.2% jump in Sweden's OMX Stockholm index? Now I'm not one to 'rah-rah' ... |
| | | | ... provide a "firebreak" around Greece, Portugal and Ireland and prevent the crisis from spreading to too big to fail Spain and Italy; (2) raise the European Financial Stability Facility (EFSF) from a,-440 billion to a,-2 trillion; (3) a "quid pro quo" ... |
| | | | ... was concern about a lack of unity being shown by the 17 Eurozone nations. The cocktail of negative economic data included Italy's ratings downgrade - the sixth European nation to do so this year - and the International Monetary Fund (IMF) revising downwards ... |
| | | | ... shed 4.07 per cent to 2,816.20. Milan slid 3.01 per cent and Madrid tumbled by 3.64 per cent on persistent concern that Italy and Spain could fall victim to the fast-moving eurozone crisis. In foreign exchange deals, the European single currency sank ... |
| | | | ... expected. In Australia, the market on Tuesday fell on fresh concerns about the eurozone debt crisis, sparked by a downgrading of Italy's sovereign debt. The benchmark S&P/ASX200 index declined 41.3 points, or 1.01 per cent, to 4,040.2, while the broader ... |
| | | | ... ratings agency Standard & Poor's did what investors expected Moody's to do - and "the last thing" they wanted - in downgrading Italy's credit rating. National turnover was 652.88 million shares changing hands for $1.56 billion, with about eight out of ... |
| | | | ... BIS - amounts to 82.4% in Greece, 51.4% in Ireland and 88.6% in Portugal. And this doesn't even include their exposure to Italy which just today saw its credit rating downgraded to A/A-1 from A+ by Standard & Poors. There could be a one mighty yeouch ... |
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