25 Dec '11, 9am

AsiaClassifiedToday European markets await more turbulence in 2012 - Straits Times: European ... #asia #google #biz

LONDON (AFP) - European stocks and the euro will face fresh turbulence in 2012 after a year in which equity markets slumped and the single currency lost ground against the dollar mainly due to the euro zone crisis. Europe's main stock markets have tumbled between 6.5 and 25 per cent since the start of 2011, as traders looked past positive economic data and earnings, while the euro has fallen 2.5 per cent versus the dollar in volatile trading. Yields on euro zone sovereign debt meanwhile rocketed in late 2011 as investors demanded top returns for lending money to the bloc's indebted countries such as Greece and Italy. 'Attempting to forecast where the dollar, euro, gold, oil or any western stock market might end next year is no less a mugs game than it was this time last year,' said Mr Howard Wheeldon, a senior strategist at BGC Partners.

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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