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Bank Of America Corp (BAC) Financial News - Europe’s Banks Rise as ECB Signals It May Buy Italian Bonds

Bank Of America Corp (BAC)

Europe’s Banks Rise as ECB Signals It May Buy Italian Bonds

Quote: in Milan trading and and Banca Carige rose 6.8 percent to 1.35 euros, as the 46-member Bloomberg Europe 500 Banks Index gained 2.7 percent. The index dropped 7.5 percent last week as yields on Italian, Spanish and Belgian government debt surged amid speculation European Union leaders will struggle to avert the euro area’s first default. Trichet last week offered banks unlimited money for six months and extended existing liquidity measures to quell concern that southern European lenders may struggle to borrow in the debt markets. Spain’s attempts to reduce their budget deficits. JPMorgan Chase & Co. (JPM) achoudhury@bloomberg.net eevans3@bloomberg.net ...
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