Markets falter in the wake of Paris attacks

Markets falter briefly in the wake of the Paris attacks The terrorist attacks on Paris caused the world markets to falter

The Paris attacks caused a wobble in the global market with more than €2bn ($2.12bn) wiped off shares in European travel and hospitality companies, as investors feared a dip in bookings across the continent. Shares in airlines and tour operators dropped sharply on the first post-attack trading day, but the slump proved short-lived, with markets quickly stabilising and the Paris Bourse ending the day only slightly lower than its Friday close. Read more…

Greek stock market plummets as financial woes continue

Greek stock market plummets as financial woes continueTough times for the Greek economy as stocks fall

The Greek stock market plummeted by more than 20% on its first day of trading after the month-long closure prompted by concerns that Greece may be about to leave the eurozone. The Athens stock index saw its worst-ever performance in the minutes after trading began, with banking shares, which make up about a fifth of the index, being hit particularly hard. The overall banking index fell to its 30% volatility limit. Read more…

Chancellor Osborne initiates RBS sale

RBS sell-off

RBS sell-off underway

British Chancellor George Osborne has started the controversial process of transferring bailed-out bank RBS back to private ownership. The sell-off of a 5% stake in the bank – around £2bn-worth of shares – will reduce the taxpayers’ holding to under 75% and is the first sale of shares since the bank was rescued in 2008. The sell-off will result in a loss of around £1bn to the UK taxpayer. Read more…