Oil traded near a one-month high yesterday after the US fired missiles at a Syrian government airbase, sending shockwaves through global markets and raising concerns that the conflict could spread in the oil-rich region.

Commerzbank AG, the German bank forced into an €18.2bn bailout, jumped the most since Oct 2011 in Frankfurt trading after second-quarter earnings fell less than analysts estimated.

Ratings agency Moody’s has today downgraded seven banks in Germany, citing risks from the eurozone debt crisis and prospects of weaker global economic growth.

IRISH pharmaceutical distribution group Cahill May Roberts, reported a 3.2% drop in first half revenue to €157 million.

Irish Nationwide Building Society, the customer-owned Irish lender planning to abandon mutual status and seek a buyer, has hired banks to manage a floating-rate note sale in euros.