Draghi keeps reminding ECB will not purchase bonds

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Source: Bloomberg

Mario Draghi, ECB president curbed expectations that common central bank will intensify bond purchases to resolve debt turmoil. Mario Draghi continues to repeat that ECB must operate within its legal foundations and ECB's mandate does not accept proposed type of intervention. However, ECB will work on behalf of EFSF, which has been authorized to interfere in debt markets. 

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Mon, 19 Dec 2011 08:45:18 GMT

European stocks open lower on news from France and North Korea

European security markets traded lower in Monday morning session amid announcement that North Korean leader Kim Jong-il died and Fitch ratings lowered France's credit outlook. Stoxx Europe 600 index lost 0.3% at 233.01, whereas German DAX 30 index dropped 0.2% reaching 5,691.78.  French CAC 40 index declined 0.5% at 2,956.82 and FTSE 100 index edged down 0.4% at 5,366.11.

Mon, 19 Dec 2011 08:43:45 GMT

Australian bonds climb on concerns over eurozone

Australian sovereign bills appreciated on Monday, driving the borrowing costs for 10-year notes and reaching record low on increasing concern, Europe will face many difficulties to overcome debt crisis. Yields for 10-year bonds lost 7 b.p., or 0.07 p.p. reaching 3.718% in Sydney morning trade. 

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