World markets gave a muted reception to the passage of US tax cuts, while bonds steadied having been spooked by the expected blowout in government debt needed to fund the giveaways.

After the euro surged through a critical technical level last week, analysts who study charts to help guide their predictions are looking back to 2010 for perspective on how high it could rise.

French stocks outperformed upbeat European indices following a convincing parliamentary majority for President Emmanuel Macron, while the banks bounced following upgrades and the country’s retail sector recovered from last week’s losses.

The UK elections are getting tighter, which could mean another nervy few days this coming week for sterling traders and Irish firms depending on the currency.

Insurer and asset manager Standard Life is likely to choose Dublin as the base for its EU subsidiary after the UK leaves the bloc, its chairman said.

The Government is on course to sell up to €3bn worth of shares in AIB in late May — providing that the outcome of looming French election does not disturb banking markets.

DISPLAYS of greed by bankers are hardly a surprise to anyone as every taxpayer in Ireland knows to their cost.

European Union regulators have fined banks JPMorgan, HSBC and Credit Agricole a combined €484m for colluding to manipulate the price of financial products linked to interest rates.

The pound fell the most in more than two weeks as Bank of England policymakers signalled further monetary easing is possible amid economic uncertainty after the UK voted to leave the EU.

Speculators that are the most bearish on sterling in nearly 25 years may be vindicated by yesterday’s survey showing Brexit is probably hitting Britain harder than markets previously envisaged.

Sterling climbed after SoftBank Group agreed to buy ARM Holdings in the biggest takeover of a British company since the country last month decided to leave the EU.

Sterling climbed the most since three days before Britain’s EU referendum as home secretary Theresa May prepared to take over as the UK’s next prime minister, removing one layer of political uncertainty.

Pound traders are getting a reality check as the latest survey signals the outcome of the UK’s referendum on whether to quit the EU is still too close to call.

Sterling weakened yesterday for the first time in nine days against the euro, slipping 0.5% to 77.85p, amid further evidence the currency is being driven by the UK’s vote on June 23 whether to remain in the EU.

The European Central Bank cut its inflation and growth forecasts for the eurozone yesterday as its president said things could get worse.

Get a taste of some of the interesting and quirky happenings in Europe from our Europe correspondent, Ann Cahill.

The NTMA will raise up to €2bn through a 30-year bond that could be issued as early as today. It will be the first 30-year bond in the history of the State.

Days before the European Central Bank is expected to deploy its ultimate monetary easing weapon, financial markets are showing no sign of confidence that it will push inflation anywhere near target in the next decade.

German banks have about €23.5bn in credit exposure to Greece, but the systemic risk is limited as the country’s biggest commercial banks, Deutsche Bank and Commerzbank, hold only a tiny fraction of that, according to figures gathered by Reuters.

Manufacturing growth across Asia, Europe and the Americas eased in November as heavy price cutting failed to revive demand, surveys showed yesterday, providing more evidence that a feeble global economic recovery may be grinding to a halt.

Credit ratings agency Moody’s has cut Japan’s credit rating, a setback to Prime Minister Shinzo Abe, a day before he begins campaigning for an election that he wants to focus on the economy.

The ECB has outlined the procedures behind the upcoming banking supervision process to help to improve confidence in eurozone banks, says Danièle Nouy

Portugal will spend €4.9bn to rescue its largest listed bank, testing the eurozone’s resilience to another banking crisis just months after Lisbon exited an international bailout.

The European Union’s top competition regulator has accused JPMorgan, HSBC and Credit Agricole of colluding to manipulate the price of financial products linked to interest rates.

Asian stock markets were pummelled today by the possibility of slowing growth in China and a further reduction in US central bank stimulus.

Eight global banking giants have been fined a combined €1.7 bn by the European Commission for forming illegal cartels to rig benchmark interest rates.

Eurozone services expanded in August for the first time in 19 months after the 17-nation bloc’s economy emerged from a record-long recession.

French authorities searched the Paris apartment of IMF chief Christine Lagarde yesterday in an investigation into her award of a 2008 arbitration payment to a businessman supporter of former president Nicolas Sarkozy, her lawyer said.

Portugal is going to have a tough time following Ireland’s route back into the bond markets.

Banking’s reputation was already on the floor when along came rate-fixing and money laundering for drug cartels and rogue states to completely destroy the public’s trust, writes Kyran Fitzgerald

French bank Credit Agricole reported a record quarterly net loss of €3.07bn yesterday, performing worse than expected as it was hit by the cost of shrinking its balance sheet and the Greek debt crisis.

THE news that Newbridge Credit Union has been taken under care by the Central Bank is a source of great concern to depositors.

THERE IS a simple explanation for why the world’s zombie banks remain so reluctant to write off worthless assets and tap the equity markets for fresh capital. They don’t want to end up like UniCredit.

A EUROPEAN Union agreement to ban Iranian oil imports boosted crude oil prices yesterday, but persistent worries about a eurozone debt crisis hobbled the single currency and European stocks.

Fitch Ratings has downgraded the debt ratings for five major European commercial banks and co-operative banking groups, citing the eurozone crisis and stronger headwinds facing the banking sector.

Ratings agency Moody's has downgraded three leading French banks, citing the worsening eurozone debt crisis.

THE European Central Bank will probably resist growing calls for it to slash interest rates next week, although a stalled eurozone economy will force the bank to cut them early next year, a Reuters poll showed.

THE countdown has begun. It is a matter of when, not if, the Greek government and creditors will have to reconcile a 50% default on their sovereign debt.

World stocks mostly rose today as investors put aside worries over Europe's debt crisis to await the outcome of a two-day Federal Reserve meeting which many hope will announce measures to boost US growth.

Asian stock markets headed lower today, dented by intensifying worries over Greece’s ability to avoid a massive debt default and a credit downgrade slapped on Italy.