European markets feel pressure amid fears interest rate trend set to turn

EUROPEAN markets closed significantly weaker yesterday, prompted by fears of a tightening interest rate outlook in the months ahead.

European markets feel pressure amid fears interest rate trend set to turn
Sat, 31 Oct, 2009 - 00:00
Brian O'Mahony

By close of business the ISEQ 100 Index was down by over 2% despite a strong rally in the key Irish bank stocks earlier in the day.

Reassurances by Finance Minister Brian Lenihan that NAMA would proceed on time saw gains of 10% and nearly 7% in Bank of Ireland and AIB respectively.

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