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European markets rebound after central banks release funds

European shares closed sharply higher Monday, with financials and miners back in favor after heavy selling late last week, as investors took heart from central banks' moves to calm money markets.

BoJ holds rates, warns market turmoil will linger

Global financial turmoil prompted the Bank of Japan to hold rates yesterday and warn that the tremors would take time to settle, as stock markets climbed in spite of fresh strife stemming from the ravaged US home loan market.

US stocks decline

Stocks finished sharply lower Wednesday as a jittery Wall Street sold off on a report showing a large drop in pending home sales and read anecdotal data from the Federal Reserve's regional banks as offering little more assurance that an interest rate cut is likely.

European stocks close lower

European stocks fell Thursday relinquishing some of their gains as financial stocks saw a reversal led by Germany's Deutsche Bank which said its 3rd-quarter earnings would be hurt by market turbulence.

European stocks end higher

European stocks rose Wednesday after a downbeat U.S. economic report fanned hopes that the Federal Reserve will lower interest rates in an effort to breathe life into the world's biggest economy.

A word of caution on sovereign-wealth funds

Just as one of Asia's largestB/B>state owned investment agencies began operations with US$200bil under management on Saturday, European Central Bank (ECB) president Jean-Claude Trichet cautioned that the global economy may suffer if sovereign-wealth funds were not transparent.

European stocks end narrowly mixed

European stocks ended mixed Thursday as both the European Central Bank and Bank of England erred on the side of caution and kept their key interest rates unchanged.

US stocks fall

Stocks in the U.S. retreated from lofty heights Thursday after a European Central Bank official pointed to rising price risks and a major Wall Street bank lowered its sales expectations for Chinese Internet company

ECB head: Need to improve ratings agencies

The role of ratings agencies and the creation and distribution of complex financial products need to be improved in the light of market turmoil, the head of the European Central Bank was quoted as saying on Wednesday.

Analysts: Central banks poles apart on interest rates

Leading central banks, which have pulled together to tackle the global credit crunch over the past six months, have shown far less co-ordination over monetary policy.