Banks lead Europe higher in early trading

Expect the stocks today to open higher
Source Market Watch

LONDON (MarketWatch) -- European stock markets bounced higher in early trading Wednesday, shrugging off a downgrade of Italy by Moody's Investors Service, with bank stocks climbing sharply following a late rally on Wall Street. .

As someone here on ATS said yesterday the markets would be higher today, i wonder how will this trend continue?

So you're gonna litter the forum with market movements now? Why don't you do it everyday?

reply to post by eldard


lol dont worry i wont just letting everyone know whats happening.

looks like they are throwing freshly
printed money at it. lol

wont last

Looks and fells to me like they are climbing up to the top of a diving board

I hope I am wrong.. but simply put the markets no longer make any sense to me.

And if anything that is what this thread represents to me... nonsensical markets.

Of course the banks are leading Europe higher, just look at all the lovely news that has been said about them in the past 24 hours....

Europe stares down banks collapse as crisis worsens

Banks in Europe Face Huge Losses From Greece

While bank executives and government leaders have been reluctant to acknowledge that the hundreds of billions of euros of Greek debt held by financial institutions is worth far less than its face value, they are slowly accepting the grim reality, as investors, clients and lenders grow increasingly wary.

On Tuesday, Deutsche Bank said it would not meet its profit goals for the year, citing investor uncertainty and losses on Greek bond holdings. Government officials are debating dismantling Dexia, the large French-Belgian bank, and warehousing its troubled assets in a bad bank.

SocGen downgraded

LONDON (MarketWatch) -- Goldman Sachs on Wednesday downgraded Societe Generale SA to neutral from buy, saying risks for French banks have risen due to their large balance sheets, high wholesale liquidity needs and reduced prospects for bulking up their capital levels.

Pressure grows on Europe to help ailing banks

LUXEMBOURG (Reuters) - Pressure is building for European ministers to provide financial aid to banks burdened by toxic euro zone debt, as fears Greece may be just weeks from default threatened to choke the region's money markets.

I dont know about everyone else, but if I was a bank, I would like all the above to be said about me....because its all good, right? Ill just get more money and everything will be fine!

And there off!!!

European markets shoot out the gates with United States three lengths behind and Asian markets in third place.

Coming up to the 400 meter mark, Europe maintains the lead, United States in second and Asia trailing in third.

Approaching the half-way mark, the Unites States is closing in on Europe on news of Bank of America getting fresh bailouts by Bernanke!!

As market contenders pass the 1200 meter mark, Europe slips on news of a downgrades to Italy and Societe Generale, United States rapidly approaching!! Asia remains in third place.

At the 1600 meter mark, Europe is hit with fresh news of an imminent Greek default while the Fed announces QE3!! United States fast approaching!! Asia still in third with poor economic data coming out of Japan and China!

Coming up to the 2100 meter mark! The UNITED STATES pulls out in front!! THE US OVERTAKES EUROPE on news the US government will deregulate industry while Europe will be hit with fresh austerity!!

But wait!!! What this!!!????

On the final corner leading to the finish line and Asia!!! Yes Asia folks!! Asia has come galloping on news Australia's economy is booming on exports of minerals to China!! Unbelievable!

Asia now passes Europe trailing closely behind the United States with Europe now in third place!!!

Wow!!!! United States starting to lose ground on news congress is in a deadlock facing imminent shutdown over how to fund the federal polies' Christmas party!!

Amazing!! Asia powers through to just a quarter length behind the United States with better-than-expected PMI data coming out of Hong Kong!! Europe has smashed and burned at the 2500 meter line!!

At the final 50 meters and Asia is pulling in front of the United States!!

Will it be the United States??!!

Will it be Asia!!??

No its the United States!!

No its Asia!!!!



BOOOOOOOOOOOOOMMMMM!!!!!!!!!!



World economy implodes and collapses.


Game over.

Here's another thing that I guess is making the markets happy today

Final Sept. euro-zone PMI confirms contraction

FRANKFURT (MarketWatch) -- A final September purchasing managers index reading released Wednesday confirmed a contraction in private-sector activity across the euro zone. Markit said its composite PMI for the 17-nation region came in at 49.1, down from 50.7 in August and broadly in line with a preliminary reading of 49.2. A reading of less than 50 indicates a contraction in activity, while a reading of more than 50 signals growth.

Gotta love it when the private sector is contracting