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Receding debt fears push European shares higher
LONDON, May 18 (Reuters) - European shares rose on Tuesday, snapping two consecutive days of falls as sovereign debt fears waned after Greece received funds from the European Union to repay its immediate debt. Banks featured among the best performers with Banco Santander (SAN.MC), BNP Paribas (BNPP.PA), UBS (UBSN.VX) and Societe Generale (SOGN.PA) up 2.1 percent to 6.1 percent. The pan-European FTSEurofirst 300 .FTEU3 index of top shares closed up 1.34 percent at 1,026.64 points, but was still down 1.8 percent for the year. Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday to repay its immediate debt.
Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday to repay its immediate debt.
* ( NAW ) 05/18 02:31PM GERMANY'S BAFIN SAYS BAN TAKES EFFECT FROM MAY 19 TO MARCH 31, 2011 AND 'WILL BE CLOSELY MONITORED'
* ( NAW ) 05/18 02:32PM GERMANY'S BAFIN SAYS BAN ON SHORT-SELLING ALSO APPLIES TO SHARES OF 10 LEADING FINANCIAL INSTITUTIONS
* ( NAW ) 05/18 02:33PM GERMANY'S BAFIN SAYS STEP 'DUE TO EXTRAORDINARY VOLATILITY WITH GOVERNMENT BONDS IN EURO ZONE'
* ( NAW ) 05/18 02:35PM GERMANY'S BAFIN SAYS MASSIVE SHORT SELLING COULD HAVE LED TO EXCESSIVE PRICE MOVEMENTS
* ( NAW ) 05/18 02:36PM GERMANY'S BAFIN SAYS MASSIVE SHORT SELLING COULD HAVE ENDANGERED FINANCIAL SYSTEM STABILITY
* ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT AAREAL BANK AG, ALLIANZ SE, COMMERZBANK AG
* ( NAW ) 05/18 02:40PM GERMANY'S BAFIN SAYS SHORT SELLING OF SHARES BANNED AT DEUTSCHE BANK AG, DEUTSCHE BOERSE AG, DEUTSCHE POSTBANK AG
* ( NAW ) 05/18 02:41PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT GENERALI DEUTSCHLAND HOLDING AG, HANNOVER RUECKVERSICHERUNG AG
* ( NAW ) 05/18 02:42PM BAFIN SAYS SHORT SELLING OF SHARES ALSO BANNED AT MLP AG AND MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG
The outlook on Wall Street today seems to indicate gains for the American investment market. In some part investors are looking away from the ongoing woes in Europe and ahead to corporate earnings. This is a telltale sign of what is wrong with the gambling-finance industry in the United States. Sound economic indicators, like run-away debt, are overlooked for corporate earnings and retail data that give zero indication of economic well-being.
A perfect example of corporate earnings meeting consumerism is Wal-Mart. Wal-Mart is the largest company on earth, and it is also the largest retailer. According to Reuters, Wal-Mart posted quarterly results that beat forecasts and helped the company continue to profit through the ongoing American recession.
According to Bloomberg News, another thing pushing investment is an increase in American housing starts. New home construction rose to an annual rate of 672,000 in April, the highest rate since October 2008.
Originally posted by marg6043
More and more I believe that the US rats created the economic crash to prop the dollar, short the Euro and to push corporate profits with luring investors into trusting America again.