U.S. and E.U indices fell Monday as investors lowered their expectations for a key summit of European Union leaders later this week. The leaders are expected to discuss steps towards a so-called banking union and other measures to boost economic activity. But investors are skeptical that Germany will back more radical moves to share the debt burden of struggling euro area governments. Furthermore, the Spanish government made its formal request for bank aid from the European Union, but it mentioned no specific sum outside of the previously stated maximum of €100 billion ($125 billion).
The DJ30 closed at 12,502.66, losing -138.12 points (-1.09%), the SPX500 closed at 1,313.72, losing -21.30 points (-1.60%) and the Nasdaq closed at 2,533.54 losing -51.99 points (-2.01%) in today’s trading.
The CAC40 closed at 3,021.64 dropping -69.26 points (-2.24%), the FTSE100 closed at 5450.65, dropping -63.04 points (-1.14%) and the DAX40 closed at 6,132.39 dropping -130.86 points (-2.09%).
Facebook Inc (FB) – On Tuesday, a 40-day quiet period will conclude for analysts at banks that were underwriters of Facebook’s initial public offering. The quiet period hinders analysts who underwrite the stock from putting out reports partly to keep a lid on hype that can surround hot IPOs. The period includes lead underwriters Morgan Stanley, J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. The analysts are expected to publish their initial research early on Wednesday.
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