Asia markets decline as Europe enthusiasm weakens

Note: This section contains information in English only.
Source: Marketwatch
Asian markets dropped on Tuesday as Fitch and Moody's rating agencies sceptically evaluated the outcome of last week's EU summit. China's Shanghai Composite dropped 1.3%, while South Korea's Kospi and Australia's S&P/ASX 200 index each lost 1.4%. Japan's Nikkei Stock Average tumbled 1% and Hong Kong's Hang Seng Index edged down 0.9%.

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Tue, 13 Dec 2011 08:16:04 GMT

Eight Spanish banks placed for possible downgrade

On Monday Moody's Investors Service placed 8 Spain's banks and 2 holding companies on assessment for potential downgrades. The action was provoked by Moody's revaluation of all Spanish financials which denoted a forecast drop in earnings creation capacity caused by lowered economic outlook for Spain. Possible downgrades are also bolstered by the fact that many Spanish financials are exposed to commercial real estate losses. 

Mon, 12 Dec 2011 19:31:14 GMT

Saab's stock trading is suspended

The trade of the Saab's shares  was halted by the Netherlands' Financial Market Authority without giving any reason. The Swedish car producer experienced problems and it applied for bankruptcy protection three months ago. The share price declined by 19% before the trade was suspended.

Mon, 12 Dec 2011 19:30:49 GMT

US stocks fell on the EU woes

US stocks declined after Fitch Ratings reported the euro-zone crisis will continue next year as solution is still elusive despite EU leaders' attempts.  The Dow Jones Industrial Average lost 225 points to 11,959. S&P 500 Index edged down 26 points to 1,229. The Nasdaq Composite decreased by 50 points to 2,597.

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