European stocks recover as bond markets improve

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP
On Wednesday European equities advanced on positive earnings reports and improved situation in bond markets. In morning trading session Stoxx Europe 600 index added 0.7% reaching 238.8. Randstad, Adecco and Michael Page were major contributors to Stoxx 600. France's CAC-40 gained 1% to 3,080 while U.K.'s FTSE 100 index climbed 0.2% to 5,530.4 and Germany's DAX 30 edged up 0.9% attaining 5,986.9.

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Wed, 16 Nov 2011 14:41:49 GMT

UBS new chief to face many challenges

Sergio Ermotti, the new CEO of UBS AG, has to persuade investors that company's fifth restructuring in last six years will be successful. Tomorrow in New York meeting Ermotti will outline UBS AG's new strategy to investors. Analysts expect Ermotti to propose further asset cuts, reductions in jobs, particularly in fixed-income field as new capital requirements are hurting profitability.

Wed, 16 Nov 2011 10:31:23 GMT

JPMorgan and Goldman hold Italian debt risk underground

Goldman Sachs and JPMorgan Chase, as the world's biggest credit derivatives traders, disclosed  the amount of sold debt protection on 5T USD worldwide to their shareholders, without announcing how much from that figure was issued by Portugal, Italy, Ireland, Greece and Spain, or the PIIGS.

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