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HuaweiThe Turkish lira, bonds and shares all weakened on Monday as investor confidence was shaken by Syria’s shooting down of a Turkish jet, which prompted Ankara to call a NATO meeting for Tuesday to agree a response to Syrian President Bashar al-Assad.
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World stocks fell on Monday amid concern that a critical European summit later this week will not yield a deal that might restore confidence in the future of the 17-country euro currency.
Fitch Ratings downgraded Cyprus’s sovereign ratings on Monday and put them on negative outlook, citing the exposure of the eurozone island’s banks to toxic Greek debt.
Sugar futures on ICE edged higher on Monday, supported by delays in shipments in top producer Brazil, while arabica coffee traded lower in slim volumes, under pressure from weak financial markets.
Gold prices edged lower in Europe on Monday, extending last week’s sharp correction as the dollar firmed, but moves were muted ahead of a European Union summit later in the week and further economic data from the United States.
Long-time Japanese rivals Sony Corp. and Panasonic Corp. are working together to develop next-generation TV panels called OLEDs in a reversal of decades of rivalry as they try to catch up with South Korea’s Samsung Electronics.
Asian markets fell on Monday on pessimism over whether a European summit this week will come up with a plan to address the region’s crippling debt crisis.
European shares hit a one-week low on Monday as global growth concerns and muted expectations that this week’s European Union summit will yield significant measures to tackle the euro zone crisis hurt sentiment, with charts pointing to further losses.
Dubai-based financial services and investment group, Saffar, said Monday it has sold its online Mideast business news service Zawya to Thomson Reuters.
World stocks fell on Monday as investors grew cautious ahead of a critical European Union summit later this week where Greek leaders will attempt to renegotiate some terms of the country’s international bailout.