Five Things to Watch Today

It’s a bad day for European banks, Blackstone ends its ‘endless’ fund, and oil’s rising again. Here are some of the things people in markets are talking about today.

Euro banks hit

Struggles continue in the Italian banking sector, where at least 52 billion euros ($54 billion) is needed to clean up balance sheets, according to data compiled by Bloomberg. This is far above the scale of the rescue package proposed this week by the government, and comes amid concerns that Banca Monte dei Paschi di Siena SpA will fail in its efforts to attract 5 billion euros of private-sector funds. Shares in the embattled lender lost 18.2 percent in trading this morning. Spanish lenders’ shares were also hit — falling as much as 10 percent — after Europe’s top court ruled against the institutions on a mortgage interest-payments case that means customers may be entitled to billions of euros in compensation.

Bloomberg

XAU/USD – Gold Steady, Markets Eye Final GDP

Nationalization Likely For Monte Paschi

MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.