Economy
In reply to the discussion: STOCK MARKET WATCH -- Wednesday, 20 March 2013 [View all]Ghost Dog
(16,881 posts)LONDON, March 20 (Reuters) - European shares broke a three-day losing streak on Wednesday as investors bet a funding crisis in Cyprus would not spread to the rest of the euro zone and continued monetary support would sustain shares.
The European Central Bank allayed the risk of an immediate collapse of Cypriot banks by providing liquidity, albeit within certain limits, helping to backstop sentiment.
Cyprus was also pleading with Russia for help after the island's parliament rejected a levy on bank deposits that was one of the conditions for a 10 billion euro European Union bailout.
Traders said the limited size of Cyprus's cash requirements meant it was likely there could be a compromise with international lenders, averting a spillover effect to other euro zone countries...
/... http://uk.reuters.com/article/2013/03/20/markets-europe-stocks-midday-idUKL6N0CC9UZ20130320