Overnight Stocks Finish Near Low’s After Concerning Spanish Banking Data| April 19, 2012.

Overnight stock markets are overall lower led by Spanish stocks which slipped on concerns about the health of the country’s banking sector.

The Dow Index slumped 82 points to close at 13,032.7 while the S&P 500 skidded 5.64 points to finish at 1,385.14.

Earlier in the session the FTSEuro which is the index for the top European shares closed down over 0.6 percent after a European Central Bank policymaker Jens Weidmann said Spain should take a rise in its bond yields as a spur to tackle the root causes of its debt woes and not look to the ECB to help by buying its bonds.

The EURGBP (see above chart) which fell from highs of 0.8401 during the European session after the Bank of England seemed to rule out further easing in minutes from its latest rate-setting meeting, remained near its lows0.8175 throughout the New York trading session.

WTI crude oil fell the most in two weeks after the US Energy Department released a report showing a larger than expected supply gain. WTI crude traded down from overnight highs of 104.54 to recent lows of 102.22.

Source
Bloomberg, Dow Jones News

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