World stocks flash danger
Stock markets showed a new bout of nerves over the global crisis on Tuesday after warnings of deepening downturn in Europe and despite a rare profit rise from Standard Chartered in the banking sector.
Stocks, which had dropped alarmingly fast on Monday, steadied with slight gains in early trading in Europe but by midday were again on the retreat, driven by fallout from shock losses at US insurer AIG and British bank HSBC on Monday, and grim forecasts on the economic front.
There was no relief on the broader front of the financial and economic crises, whose global reach showed in updated and increased loss figures for international airlines.
In London, share prices showed a fall of 1.51 percent and in Paris the market was down by 0.49 percent. German stocks shed 0.30 percent in midday trade. In Tokyo, stocks on the Nikkei index ended with a loss of 0.69 percent.
The falls came after helter-skelter drops on Monday which took the Japanese market to the lowest point for 26 years, Wall Street 12 years and London six years.
European Union Monetary Affairs Commissioner Joaquin Almunia left open the possibility that the EU's executive commission might further downgrade its estimate of output for the bloc this year from shrinkage of 1.9 percent for the eurozone and 1.8 percent for the EU, estimated in January.
Comments