Euro remains weak ahead of Italy bond auction

Source: Bloomberg
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17-nation currency stayed weak on Monday and was heading for a largest monthly loss since September ahead of upcoming Italian bond auction due tomorrow. The common currency traded almost flat against US Dollar at USD 1.2537 in Asian trade. The Euro has depreciated 5.3% in May. Currently EUR/USD is trading at USD 1.2534. 
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Tue, 29 May 2012 06:52:03 GMT

Greek banks got 16 billion Euros from rescue fund

Four largest Greece's banks gained access to the ECB funds, according to the Greece's Ministry of Finance. The capital injection was implemented through bonds from the EFSF bailout fund and is aimed at pumping liquidity into National Bank, Eurobank, Alpha and Piraeus Bank. The banks gained 18 billion Euros for further recapitalization, the Finance Ministry added.

Tue, 29 May 2012 08:24:00 GMT

European shares pare gains on Monday

European equity markets traded higher in the early session on Monday but retreated and erased most of their gains later in the afternoon. The investor sentiment was depressed by concerns over Spanish banks. Therefore major banks across Europe also weighted on stock indices. Stoxx Europe 600 index traded flat, Spanish IBEX 35 plunged 2.2% and German DAX slipped 0.3%. French

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