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Investors get a eurobond boost

Wednesday, September 14, 2011 - 01:37

Sept. 14 - Proposals for a common euro zone bond brightened the mood in early trade, after comments from the European Commission. Ciara Sutton reports.

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European Markets got a welcome lift in early trade. It followed the European Commission's announcement that euro zone bonds would be introduced soon. Many investors see euro bonds as the only way to tackle the euro zone debt crisis. But Germany has been firmly opposed to them. Robert Halver is from Baader Bank in Frankfurt. (SOUNDBITE) (English) ROBERT HALVER FROM BAADER BANK AG, SAYING: "I guess that's not a good sign, that's a bad message for the markets because Germany in former times was a strong, strong factor in policy, in the European policy, and right now we have kind of a political crisis, even in Berlin." Moody's downgrade of two French banks considered over exposed to Greece hit stocks early on. But by early afternoon the FTSEurofirst 300 - the index of top European companies - was up 0.3%. Germany's DAX also got a lift - as did France's CAC and the UK's FTSE 100. Few analysts were expecting a long term revival though with no solution to the euro zone debt crisis. Louise Cooper is from BGC Partners in London. (SOUNDBITE) (English) LOUISE COOPER, MARKET STRATEGIST FOR BGC PARTNERS, SAYING: "Massive volatility, huge concerns, you know you can just lose so much money so quickly that investors and market players are highly nervous of these markets." Global markets have now been struggling since the end of July, largely due to the euro zone's troubles and fears of recession in the U.S. Investors are now looking for strong leadership from euro zone politicians to help end the volatility. Ciara Sutton, Reuters.

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Investors get a eurobond boost

Wednesday, September 14, 2011 - 01:37