Europe’s stock markets PLUNGE amid fears ECB has run out of tools to save eurozone

THE European Central Bank (ECB) has shocked markets by today taking no action to prop up the eurozone, despite warning signs the economy is struggling to cope with Britain’s vote to leave the European Union (EU).

Stock markets in Europe were in the red after the ECB unexpectedly left policy unchanged amid the worrying outlook for the eurozone.

A flurry of dire data in the weeks after the Brexit vote has pointed towards a sharp slowdown for the bloc, prompting expectations the central bank would take decisive action.

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Four in a Row: China’s Stealth Fighter Fleet Grows Again

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Fighter on a Truck: Wrapped in a tarp, the second J-31 prototype leaves Shenyang, on an escorted convoy for specialized testing (since the wings are completely integrated into the fuselage, it’s too wide to be shipped by train or air). | =GT at China Defense Forum

 

In July 2016, the Chengdu Aircraft Corporation rolled out two more low rate initial production (LRIP) J-20 stealth fighters. This brings to a total of four J-20 fighters built for service into the Chinese air force, as opposed to the original eight J-20 prototypes, which are still undergoing a rigorous flight testing regimen. At this rate of production, China may have 12 production J-20 ready to hand off to a PLAAF squadron for operational and flight familiarization, with an initial operating capability (IOC — meaning those fighters can conduct combat operations) in 2017-2018. Continue reading

ITALY ON THE EDGE: Italian banks face further losses as investor fears grow over debt

CONFIDENCE in Italy’s banks and the wider economy is falling apart, as investors continue to digest Britain’s vote to leave the European Union (EU).

Pointing to real fears over the future of the bloc, Europe’s top stock markets have failed to recover from the shock of the Brexit vote.

In stark contrast, Britain’s premier index the FTSE 100 has left its continental counterparts in the dust. Continue reading

Europe on the BRINK: Financial disaster looms for Eurozone as markets plunge into the RED

EUROPE’s top stock markets plunged into the red AGAIN on Friday amid panic over the future of some of the continent’s biggest companies.

Germany’s DAX and France’s CAC both dropped this morning before later recovering following a dire day of trading yesterday, which could mark the return to market carnage witnessed at the start of the year.

Germany’s biggest banking stocks have been among the biggest casualties this week, with Deutsche Bank falling by almost nine per cent and Commerzbank down by almost five per cent. Continue reading

Recovery stalls in Europe as austerity grinds on

Growth wilted across large swathes of the eurozone in the first quarter, dashing hopes of durable recovery and prompting demands for shock and awe action from the European Central Bank.

Bourses tumbled across Europe, with Milan’s MIB index down 3.6pc, led by a plunge in bank stocks. Madrid’s IBEX was off 2.35pc and France’s CAC fell 1.25pc.

Prof Charles Wyplosz, from Geneva University, said the relapse should not be a surprise. “Austerity has been reduced but it has not stopped. Countries are still being told to reduce their deficits and they should not be doing that right now,” he said. Continue reading