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Stock Markets Sink Amid European Crisis

By Rebecca Davis on November 11, 2011 9:58 am in Latest News, Stock News, US News, World News / no comments

World stock markets experienced heavy losses on Wednesday but stocks in the United States and Europe posted moderate gains on Thursday, following news that Italy successfully placed offering of debt securities. Debt-burdened Italy managed to raise $6.8 billion in one-year securities at an average rate of 6.09 percent, marking the highest interest rate on Italian government securities since September 1997, before the country adopted the euro.

Stock Market Down

On Thursday, the British FTSE 100 index lost 0.65 percent of its value, with major German and French stock indexes losing less than 1 percent. Early trading in the United States saw the Standard & Poor’s 500 index futures adding 1.3 percent before going down to a 0.2-percent gain, while the Dow Jones industrial average added 0.4 percent.

On Wednesday, the S.& P. 500 index lost 3.7 percent following massive sell-off of Italian debt, which forced the markets down.
In the foreign exchange market, the euro rose slightly against the U.S. dollar, with deals being made at $1.3582 on Thursday from $1.3542 on Wednesday.

Investors in Europe and the U.S. welcomed news on positive developments in the North American labor market, where the number of people who filed for unemployment benefits continue to decrease even though at slower than expected pace. Market players are positive that a key Italian economic bill would be approved by the weekend, putting an end to growing costs of Italian government borrowing and resulting in Prime Minister Silvio Berlusconi’s resignation. Markets also welcomed the news that Greece appointed Lucas Papademos as its new prime minister.

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Rebecca Davis began her career in journalism 10 years ago. Her passion includes a wide range of topics that include music and movies. With a forward vision on delivering accurate content to her readers about the hottest entertainment topics, you can be certain that Ms. Davis will focus on the issues that are important for you. Ms. Davis does hold a degree in Journalism and feels that painting the full picture on any story is essential. When she began her career, she was a general news reporter and then quickly moved on to the Entertainment columns. With her experience, she is able to deliver a quality article that you can count on. During her time as an entertainment writer she has worked on everything from reviews to celebrity interviews. Her articles are gripping and honest and this is one of the reasons why she has achieved a strong readership level over the years. With a wide range of experience, she continues to grow her experience levels with a focus on expanding her career in new directions. When Davis isn't working on breaking entertainment news, she can be found working on other personal interest stories. In recent years, she has worked on relationship advice, suicide prevention and how to handle domestic violence with loved ones. Her vast experience of knowledge has helped her to become recognized as a socially conscious individual who has quickly become a trusted individual. If you have any questions for Ms. Davis or have information on a breaking story, please take the time to contact her.