European Central Bank correspondent, Frankfurt
Marc's Feed
Aug 4, 2015

Respite for commodities as dollar wilts, China shares bounce

LONDON (Reuters) – Oil prices steadied at $50 a barrel after a 5 percent drop and badly bruised commodity and Chinese markets were calmer generally on Tuesday, as investors attempted to shake off the recent turbulence.

European stocks reversed some of the previous day’s gains and safe-haven German government bonds were in demand as the region opened, but there was some respite for commodities and their related currency and share markets.

Aug 4, 2015

Respite for commodities as dollar wilts, China bounces

LONDON (Reuters) – Oil prices steadied at $50 a barrel after a 5 percent drop and badly bruised commodity and Chinese markets were calmer generally on Tuesday, as investors attempted to shake off the recent turbulence.

European stocks <0#.INDEXE> reversed some of the previous day’s gains and safe-haven German DE10YT=TWEB government bonds were in demand as the region opened, but there was some respite for commodities and their related currency and share markets.

Aug 3, 2015

Greek stocks bashed at restart, China woes go on for commodities

LONDON (Reuters) – The Greek stock market slumped when it reopened on Monday after being shut down for five weeks, while weak data from China helped push oil prices to their lowest in six months and Asian stocks close to their 2015 lows.

Surveys showed China’s factory activity contracted by the most in two years, ensuring a three-month sell-off in commodity and emerging markets would continue.

Jul 31, 2015

Commodities, China stocks lick wounds after brutal July

LONDON (Reuters) – Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived fears about the global economy and overshadowed more encouraging news from the U.S. and Europe.

There were signs that the rout wasn’t over yet as Chinese stocks – which have suffered their worst monthly drop in 6 years – wobbled again, oil prices slipped following a more than 15 percent July slump and metals from industrial copper to precious gold hit multi-year lows.

Jul 30, 2015

Dollar, bond yields rise on U.S. rate hike bets

LONDON (Reuters) – The dollar jumped and world stocks were left flat-footed on Thursday after the Federal Reserve painted a relatively bright picture of the U.S. economy, boosting bets that it will hike interest rates in September.

Europe’s stock markets <0#.INDEXE> had initially started brightly but began to fade as attention switched from company earnings from the likes of Siemens and Deutsche Bank to upcoming euro zone unemployment, business sentiment and German inflation data. ECONG7 [.EU]

Jul 30, 2015

Global stocks subdued on U.S. rate hike caution

LONDON (Reuters) – The dollar jumped and world stocks were left flat-footed on Thursday after the Federal Reserve painted a relatively bright picture of the U.S. economy, boosting bets that it will hike interest rates in September.

Europe’s stock markets had initially started brightly but began to fade as attention switched from company earnings from the likes of Siemens and Deutsche Bank to upcoming euro zone unemployment, business sentiment and German inflation data.

Jul 13, 2015

Moody’s sees no quick Greek upgrade after debt deal

LONDON (Reuters) – Rating agency Moody’s said that Greece’s rock-bottom credit rating was unlikely to be raised any time soon, despite Greece agreeing terms on Monday for a third euro zone bailout.

Colin Ellis, the firm’s chief European credit officer, said the immediate focus was on whether the Greek parliament approved the proposed deal on Wednesday, and on whether financing could be found to meet a 3.5 billion euro ($3.9 billion) payment to the European Central Bank next Monday.

Jul 13, 2015

Deal on Greek crisis lifts equity markets, but anxiety remains

LONDON/NEW YORK, July 13 (Reuters) – World equity markets
climbed on Monday, welcoming new talks to keep Greece afloat
with a bailout and within the euro zone, even as the single
European currency weakened with a final Greek deal yet to be
agreed.

European equity markets rose more than 1 percent and Wall
Street gained almost as much after euro zone leaders made Greece
surrender much of its sovereignty to outside supervision in
return for agreeing to talks on an 86-billion-euro bailout.

Jul 13, 2015

S&P could upgrade Greece ‘pretty quickly’ if deal sticks

LONDON (Reuters) – Standard and Poor’s could upgrade Greece’s rock bottom credit rating “pretty quickly” if Monday’s plan for a third euro zone bailout in five years looks like holding, the rating agency’s top European sovereign analyst said.

Moritz Kraemer told Reuters that although the firm’s longer-term base case remained that Greece would end up leaving the euro, the deal had reduced the immediate risk of that and could lead to an upgrade from its CCC- grade in the next week or two.

Jul 13, 2015

EBRD ‘sure’ to play some role in Greek banks if deal holds

LONDON (Reuters) – The European Bank for Reconstruction and Development is likely to play some role in getting Greek banks back on their feet if the euro zone’s third rescue deal for the country holds, one of the bank’s top officials said on Monday.

Peter Sanfey, the EBRD’s Acting Director of Country Strategy and Policy, told Reuters it was a relief that Greece looked to be staying in the euro and that would hopefully clear the way for the bank’s first projects in the country.