"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Tuesday, April 24, 2012

Market Spooked by Record Euro Zone Debt and Deepening Eurozone Business Slump

Euro zone jitters spook markets
Globe and Mail
Global stocks and the euro slumped on Monday as a Dutch political impasse and disappointing euro zone data revived fears the region's debt crisis could keep much of Europe mired in recession through the year. Shares of Wal-Mart Stores Inc. WMT-N, ...

Globe and Mail

Record Euro Zone Debt Makes the Crisis Messier
BusinessWeek
That's why the European Union's report today on rising government debt in the single-currency euro zone is troublesome. The organization announced that the government debt-to-GDP ratio increased from 85.3 percent at the end of 2010 to 87.2 percent at ...

Euro zone slump deepens unexpectedly in April
Reuters
By Andy Bruce | LONDON (Reuters) - The euro zone's business slump deepened at a far faster pace than expected in April, suggesting the economy will stay in recession at least until the second half of the year. Chinese factories enjoyed their best ...

Eurozone cuts deficits but overall debt rises
BusinessWeek
Figures reported Monday by the European Union's statistics office confirmed the effects of harsh austerity programs on the eurozone members' economies, which in 2010 ran an overall deficit of 6.2 percent of gross domestic product.

Eurozone cuts deficits, total debt rises
USA TODAY
By Stephen Jaffe, AFP/Getty Images Christine Lagarde, International Monetary Fund Managing Director, holds a press conference on April 19, 2012, at IMF Headquarters in Washington, DC to discuss the Eurozone debt crisis. By Stephen Jaffe, AFP/Getty ...

USA TODAY

Euro crisis, Syria diplomacy, NATO's future: What's at stake in French ...
Washington Post
Here's why the race should matter to people outside French borders: EUROPE'S DEBT CRISIS France has one of the world's top 10 economies and is an engine of the eurozone, which is struggling to climb out of a debt crisis rattling markets worldwide.

Euro zone woes sink stocks; dollar up
Reuters
By Luciana Lopez | NEW YORK (Reuters) - Global stocks and the euro slumped on Monday as disappointing euro zone private sector data and a Dutch budget crisis unnerved investors who scooped up perceived safe haven assets such as the dollar and US ...

Euro crisis, NATO troops: Why French vote matters
The Associated Press
France has one of the world's top 10 economies and is an engine of the eurozone, which is struggling to climb out of a debt crisis rattling markets worldwide. Sarkozy and German Chancellor Angela Merkel pushed for a pact to tie European economies ...

The Associated Press

Analysis: Populist surge threatens euro zone consensus
Reuters
By Paul Taylor | PARIS (Reuters) - A surge of support for Eurosceptic, anti-immigration populists in the euro zone threatens to upend the mainstream political consensus in favor of austerity and budget discipline. The prospect of ratifying and ...

Oil trips on euro zone economic worry, politics
Reuters
Euro zone business woes deepened at a faster pace than expected in April, with the Purchasing Managers Index for the bloc's dominant service sector falling to a five-month low, against forecasts that it rose. Politics added uncertainty after the ...

GLOBAL MARKETS-Politics, data revive euro zone fears; shares, euro hit
Reuters
The Netherlands is traditionally one of the euro zone's most stable members, and the political turmoil added to uncertainties in financial markets already worried that the Socialist front-runner in French elections has pledged to renegotiate the ...

Stocks down on eurozone fears, political turmoil
The Seattle Times
European stocks fell Monday after a key economic indicator pointed to more growth troubles for theeurozone and political developments in France and the Netherlands suggested diminishing support for using drastic budget cuts to fix the debt crisis.

Politics, PMI amplify euro-zone debt fears
MarketWatch
The euro-zone preliminary composite purchasing managers' index, or PMI, compiled by data provider Markit, fell to a five-month low of 47.4 in April from 49.1 in March, defying forecasts for a rise to 49.3. The manufacturing PMI gauge dropped to a ...

Euro-Zone's Private Sector Shrinking Fast
Wall Street Journal
By ILONA BILLINGTON LONDON—The euro zone's private sector contracted in April at the sharpest pace since November, damaged by a steep decline in the manufacturing sector, suggesting the region won't rebound quickly from the recession it is widely ...
 
Wall Street Journal

Eurozone crisis rears its head
Columbia Daily Tribune
FRANKFURT, Germany (AP) — European stocks fell today as a key economic indicator pointed to more growth troubles for the eurozone, and political developments in France and the Netherlands suggested diminishing support for using drastic budget cuts to ...

Iceland's Ex-Prime Minister Convicted of One Charge Related to Financial Crisis
New York Times
LONDON – Iceland's former prime minister Geir H. Haarde was found guilty of failing to keep his cabinet informed of major developments during the 2008 financial crisis, but was cleared of three more serious charges of negligence on Monday.

New York Times

Eurozone Debt Reaches Worst Level Since Single Currency Established
TheStreet.com
By DailyFX 04/23/12 - 03:30 AM EDT By Benjamin Spier, Eurozone government debt for 2011 came in at 87.2% of the gross domestic product, for a total of 8.215 trillion Euros, reaching the worst debt level since the start of the Euro.

TREASURIES-Euro zone political uncertainty bolsters bonds
Reuters
Markets took direction from "overnight action in the euro zone amid ongoing concerns over Spain, and following France's first-round presidential elections," said Michael Englund, chief economist at Action Economics in Boulder, Colorado.

CANADA FX DEBT-C$ rattled lower by euro zone concerns
Reuters
C$ at C$0.9973 vs US$, or $1.0027 * Euro zone PMI, politics hit global markets * Bonds climb across curve By Jennifer Kwan TORONTO, April 23 (Reuters) - Canada's dollar weakened against its US counterpart on Monday, weighed down by soft commodity ...

Wonkbook: Can a French Socialist save the euro zone?
Washington Post (blog)
But its the effective referendum on the euro-zone project that makes it, for the United States, important. Hollande has also promised that, if elected, he will renegotiate the treaties governing the austerity targets across Europe.

Greece should exit euro to save economy -Ifo head
Reuters
By Steven C. Johnson NEW YORK, April 23 (Reuters) - Greece's ability to recover competitive economic standing will be severely constrained if it continues to use the euro, and other indebtedeuro zone countries will likely face similar struggles, ...

Weidmann: Central bank can't fix euro crisis with loose money, says deficits ...
Washington Post
The ECB and the eurozone's 17 national central banks make up the Eurosystem. The ECB has already cut interest rates to a record low of 1 percent, which lowers borrowing costs for businesses, and has flooded the banking system with more than €1 trillion ...

Euro-Zone Debt Crisis Spreads To Core On Political Woes
Wall Street Journal
LONDON (Dow Jones)--Political developments hit euro-zone bond markets Monday, with French bond yields climbing on concerns that a possible win for Socialist candidate Francois Hollande in the Presidential election will undermine efforts to plug the ...

Eurozone fears and political instability send stock markets tumbling
The Guardian
Fears of a long recession in the eurozone and increasing political instability in Holland, France and the Czech Republic sent stock markets tumbling across the continent on Monday. Weak manufacturing output across Europe and the fall of the Dutch ...

The Guardian

Backlash against eurozone austerity
Financial Times
By Ralph Atkins in Frankfurt and Robin Wigglesworth in London A political backlash against fiscal austerity left mainstream French and Dutch politicians struggling on Monday to shore up support as a key economic indicator highlighted the eurozone's...

Financial Times

Euro Zone Annual Budget Deficit Down, But Debt Up In 2011
International Business Times
By Angelo Young: Subscribe to Angelo's RSS feed The 17-member euro zonemanaged to reduce its combined annual budget deficit to 4.1 percent of the gross domestic product in 2011, down from 6.2 percent in the previous year, the European Union's ...

International Business Times

Euro-zone April composite PMI falls to 5-month low
MarketWatch
By William L. Watts FRANKFURT (MarketWatch) -- Business activity across the 17-nation euro zone contracted at a faster-than-expected pace in April, according to the preliminary purchasing managers' index, or PMI, readings released Monday by data firm ...

Eurozone Private Sector Logs Bigger-Than-Expected Fall In April
RTT News
(RTTNews) - Eurozone private sector contracted at a faster-than-expected pace to a 5-month low in April, indicating a sharp deceleration in economic activity at the start of the second quarter. The composite output index that measures performance of ...

RTT News

Chile Stocks Close Lower On Euro-Zone Worries
Wall Street Journal
By Graciela Ibanez Of DOW JONES NEWSWIRES SANTIAGO (Dow Jones)--Chile's IPSA select stock index ended lower Monday, tracking lower US and European stocks after the euro zoneposted disappointing April economic data. The IPSA ended 0.9% lower at 4551.14 ...

Eurozone in crisis: live coverage | The World | International affairs ...
By Tom Burgis
The uncertainty about the Dutch fiscal policy is tarnishing the status of the Netherlands as one of the few safe havens in the eurozone. It is of secondary importance whether this will lead to an immediate rating downgrade. Markets have long ...
The World

Gloom and doom pervades the Euro Zone | The Big Picture
By Kiron Sarkar
As expected, Mr Hollande lead in the 1st round of elections. He gained 28.6% of the votes, with Mr Sarkozy on 27.1. The surprise was Ms Le Pen's 18.1%, a record.
The Big Picture

Dollar broadly higher as euro zone fears escalate By Forexpros
By Forexpros
Forexpros - The U.S. dollar added to gains against its major counterparts on Monday, as sentiment on the euro was hit by mounting concerns over political uncertainty in the euro zone following the collapse of Denmark's government.
Forex Pros RSS News Feed | Forex News

EUR/USD April 23 Euro-zone Releases Disappoint Markets | Forex ...
By kenny
After posting a two-week high on Friday (April 20th), Euro dollar retracted, giving up most of these gains by the start of the trading week. The markets.
Forex Crunch

Euro-Zone Composite PMI Declines To 47.4 In April | Benzinga
By Monica Gerson
Business activity across the 17-nation euro zone declined in April, according to the preliminary purchasing managers' index released by Markit. Manufacturing PMI dropped to 46.0, versus 47.7 in March, versus economists' estimates for an ...
Benzinga - Stock Market Quotes,...

Eurozone Crisis Set To Get Worse Before It Gets Better
Those who watched Dominique Strauss-Kahn at the spring meeting of the International Monetary Fund a year ago say he played a blinder. Although he was to leave Washington under a cloud shortly afterwards, DSK impressed with his ...
Business on Here Is The City

Fuel Fix » Live blog: Eurozone crisis
By FT.com - Energy
Live blog: Eurozone crisis. ... Live blog: Eurozone crisis. Posted on April 23, 2012 at 7:28 am by FT.com - Energy in. Rolling coverage of the first-round results in France's presidential election with news, reaction and analysis. Read more from ...
Fuel Fix

Eurozone Flash PMI - Business Insider
By Joe Weisenthal
You have successfully emailed the post. Flash PMI Report Confirms That The Eurozone Economy Was Dismal In March. Joe Weisenthal | Apr. 23, 2012, 4:30 AM | 7 |. Share on Tumblr. A A A. Facebook. Linkedin. Twitter Tweet. Google+. Email ...
Business Insider

Dutch crisis puts eurozone debt rescue plans at risk | ForexLive
By Gerry Davies
'The Dutch prime minister will on Monday launch a bid to salvage his austerity budget amid political chaos that could cost the country its AAA credit rating and.
ForexLive

Stocks tumble as eurozone problems return and Chinese and ...
By Peter Cooper
Stocks tumble as eurozone problems return and Chinese and European manufacturing contract. Posted on 23 April 2012 with no comments from readers. US futures fell and stock markets tumbled around the world as data showed Chinese ...
ArabianMoney

ETF Periscope: A French Connection To the Eurozone's Fate | Phil's ...
By Sabrient
Courtesy of Daniel Sckolnik, ETF Periscope“He who controls others may be powerful, but he who has mastered himself is mightier still.” – Lao Tzu There.
Phil's Stock World

EUROZONE: Dortmund champions, while Juve and Montpellier ...
By DM
EUROZONE: Dortmund champions, while Juve and Montpellier close in. For more news and views on world football, check out our Twitter. GERMANY Dortmund are champions. ** CLICK HERE TO SEE A PICTURE SPECIAL OF ...
Mail Online - World Football...

XE.com - CORRECTED-UPDATE 5-Oil trips on euro zone economic ...
Oil fell on Monday on pressure from revived concerns about a slumping euro zone economy and political uncertainty in France and the Netherlands, even as worries about supply disruptions and tightening Western sanctions on Iran remained ...
XE Forex News

Eurozone economic activity contracts | Nicosia Business Review ...
By admin
Eurozone economic activity has contracted unexpectedly sharply this month, pushing the region deeper into recession and dashing hopes that action to combat its debt crisis would soon pave the way for a gradual recovery. Purchasing ...
Nicosia Business Review Worldwide:...

Stocks down on eurozone fears, political turmoil - Yahoo! News
From Yahoo! News: European stocks fell Monday after a key economic indicator pointed to more growth troubles for the eurozone and political developments in ...
news.yahoo.com/stocks-down-eurozone-fears-political-turmoil...

Calculated Risk: Eurozone Worries Again
Markets reacted nervously on Monday to the socialists' first-round victory in France's presidential election, as the eurozone crisis claimed another victim on ...
www.calculatedriskblog.com/.../eurozone-worries-again.html

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