Deutsche Bank is in trouble and has to close 200 branches. Is that the reason for Merkel to merge London Stock Exchange and die Deutsche Boerse?
The reasons for the European Stock Market gone into red are the failing economy ad European Central Bank.
The European currency the Euro has been on a wobble for a long time and under suspicion to crash any moment. A great blame has been laid on Brussels' money wasting which is so bad that auditors have not signed their yearly accounts for over 15 years. Apparently there are over £100billion missing.
In March the ECB made the greatest effort by reducing interest rates and printing billions of extra cash. Ir did not help and it was announced yesterday the region is in deflation, prices in Europe are falling because of less consumer demands and ailing economy.
Manufacturing data painted a sad picture in Spain, Italy and France. Top stock market in Germany, France and Spain saw losses of one per cent today.
Even China's economy is slowing down according to the manufacturing data for the last three months.
The OECD posted a grim comment, the global think tank warns of a very difficult condition at the moment.
Michael Hewson, chief market analyst at CMC Market UK said: "Europe markets have got off to a slow start in June as investors absorb the latest manufacturing report from around the globe.
"In Europe the picture for manufacturing isn't much better with France still struggling and Spain and Italy showing signs to slow down, though Germany manufacturing did manage to post a four months high."
No comments:
Post a Comment