Moody's cuts rating of 28 Spain's banks

Source: Bloomberg
Moody's Investors Agency downgraded Spanish biggest banks including Banco Santander SA,Banco Bilbao Vizcaya Argentaria SA (BBVA) and 26 other country's lenders citing surging national debt and climbing real estate mortgages. At least twelve banks were cut to junk grade Moody's reported yesterday. Banco Santander was downgraded from A3 to Baa2 while BBVA was cut from A3 to Baa3.
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Tue, 26 Jun 2012 06:32:16 GMT

Merkel strengthens resistance to Eurozone debt sharing

Chancellor Merkel strengthened her opposition to Eurozone debt sharing, moving Germany on battle course against its allies ahead of upcoming EU summit in Brussels this week. Yesterday Merkel claimed in her speech Euro deposit insurance, Euro bonds and Euro bills to be counter-productive and economically wrong. Moreover should the usage of such instruments is against German constitution. 

Mon, 25 Jun 2012 15:27:15 GMT

FTSE 100 declines pushed by Shire Plc

UK FTSE 100 traded down on Monday led by pharmacy company Shire Plc. Investors remained cautious awaiting for the outcome of the upcoming EU summit in Brussels due this week. Shire plunged 13% after its rival's hyperactivity drug Adderall XR was approved by U.S. Food and Drug Administration. Retailer Wm Morrison Supermarkets lost 1.7% on news its Finance Director R.

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