European shares higher on last trading day before holidays

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Source: Marketwatch

European markets opened higher on Friday led by financials and resource companies as investor optimism was lifted by better-than-expected US economic data. Stoxx Europe 600 index added 0.9% at 241.77 while FTSE 100 index advanced 0.7% to 5,492.56. French CAC 40 index gained 1% at 3,104.37 and German DAX 30 index climbed 0.9% to 5,897.49.

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Fri, 23 Dec 2011 11:02:27 GMT

Moody's lowers Slovenia's rating

Moody's Investors Service cut Slovenia's sovereign credit rating as government had to intervene to support banking system amid region's debt turmoil. Moody's lowered Slovenia's rating by one level to A1. The country was downgraded by Moody's for the second time in last quarter. Standard & Poor's ranks Slovenia one level up at AA-. 

Fri, 23 Dec 2011 11:01:17 GMT

Russia cuts benchmark refinancing rate

Russia unexpectedly lowered country's refinancing rate while increasing its overnight deposit rate after inflation decelerated, reaching the smallest year-end reading since the collapse of Soviet Union. Bank Rossii cut nation's refinancing rate from 8.25% to 8.0%. Decision was made to circumvent inflation risks and threats to economic growth. 

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