Spain requires help

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Source: The Wall Street Journal
Spain is likely to seek financial aid from Europe to support its ailing banks, as the country is losing access to financial markets due to increasing interest rates on Spanish bonds, according to the Budget Minister. The Eurozone policy makers developed measures to contain Spain's deepening financial crisis ahead of EU summit in Brussels at the end of June. 
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Wed, 06 Jun 2012 08:01:31 GMT

US shares slightly recover on ISM services

US stocks traded slightly better on Wednesday after data showed ISM index for service businesses surged from 53.5 in April to 53.7 in May. S&P 500 index advanced 0.57% or 7.32 points and finished at 1,285.50. Dow Jones Industrial Average climbed 0.22% or 26.49 points to 12,127.95 and Nasdaq Composite gained 0.66% or 18.10 points  to 2,778.11. 

Wed, 06 Jun 2012 07:51:22 GMT

Moody's lowers Commerzbank credit rating

The credit rating of Commerzbank AG, the second largest lender in Germany, was cut by one level to A3. In total Moody's lowered ratings for three banks in Austria and seven banks in Germany. Moody's Investor Service is reviewing also Deutsche Bank AG. 

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