The markets are down again today, contributing to one of the worst quarterly falls in the last decade, according to the BBC (http://www.bbc.co.uk/news/business-15128250). Stocks in France and Germany have fallen by more than 25% since the end of June whilst shares in the FTSE are down almost 14%. This would make the worst quarterly fall from the FTSE 100 since 2002.
Eurostat, the European Union’s official statistics agency reported that consumer prices increased by 3.0% in the year to September, up 0.5% from August and significantly higher than the European Central Bank’s target of 2.0%.
523 MPs in Germany’s parliament approved expanded powers for the EU’s bailout fund, with 85 voting against (three abstains). The measure is expected to pass in Germany’s upper house of parliament in a vote on Friday.
Market concerns about the financial stability of the Eurozone has resulted in investors cashing out of stock and gold, seeing the price of gold slip to the US$1600 level
Stocks across Europe are opening slightly lower today ahead of Germany’s crucial vote on the enlargement of the European Financial Stability Facility. The vote is at 10am (British time) and is widely expected to go through.