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Markets clawed back lost ground Tuesday on hopes that Greece is heading toward a conclusion of debt-reduction talks with private creditors and that it may secure its second bailout package this week.
Global stock markets traded in narrow ranges Thursday as volumes dried up ahead of the Christmas break and a raft of U.S. economic data that could provide traders with some last-minute direction.
World stock markets were mixed Thursday ahead of an EU summit where national leaders will tackle the region's debt crisis and as investors hoped for more upbeat U.S. economic indicators.
European stock markets gave up some of their gains Wednesday after a subdued opening on Wall Street following disappointing U.S. jobs data.
World markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 4 percent and investors trimmed bets before the release of crucial indicators from the world's two biggest economies.
The volcano threw magma chunks the size of cars into the air and rocked our helicopter with a vicious explosion that sent a visible shock-wave through the air, a reminder of its power.
For all the worldwide chaos that Iceland's volcano has already created, it may just be the opening act.
The dramatic volcanic eruption that belched out the ash plume responsible for grounding much of Europe entered a new phase Monday — producing less smoke but bubbling with lava and throwing up chunks of molten rock.
In Europe, the volcanic ash danger travels at high altitudes, but for Iceland's farmers the problem is very much on the ground.
LONDON — The eyes of the world are on debt-ridden Greece as the country struggles to placate the EU and markets with spending cuts and strains to raise money to avoid default. But other countries, like the United States and Britain, have very high debt ratios — so why has the financial balance come so catastrophically undone for the small Balkan country?
European stock markets won some respite Monday ahead of a meeting of eurozone finance ministers in Brussels, where the Greek debt crisis will likely top the agenda. However, public holidays in many Asian countries as well as the U.S. have reined in some of the volatility that gripped markets over the last couple of weeks.
Chinese stocks rallied Friday as traders returned to their desks following a weeklong holiday, when the rest of the world's major markets shot higher amid mounting optimism about the global economic recovery. European markets were mostly unchanged.
HSBC PLC, Europe's largest bank by market value, on Monday reported a 70 percent drop in 2008 net profit and said it would raise $17.7 billion in new capital through a share issue, while cutting 6,100 jobs as it shutters consumer loan businesses in the U.S.
Interest rates on three-month dollar loans between banks fell for the third day running Thursday, while the equivalent European rates also fell ahead of the rate cuts from the European Central Bank and the Bank of England.
Dollar lending rates between banks rose Monday despite the announcement of a U.S. plan to rescue troubled lender Citigroup Inc.
Lending rates on dollar loans between banks increased again Thursday, reversing a one-day improvement and suggesting that banks are again becoming concerned with funding their operations.
Credit conditions among banks improved for a sixth consecutive trading day on Monday, particularly in the U.S., as confidence in the financial sector appeared to be improving after the rescue measures announced in recent weeks by central banks and governments.
Oil prices tumbled to a one-year low below US$83 a barrel Friday in European trading as fears mounted that governments around the world would be unable to keep the ongoing financial crisis from causing a severe global economic downturn.
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