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Europe Day Ahead: Greek chaos fuels flight to safety

Wednesday, May 09, 2012 - 03:25

May 9 - German bond yields fall to new record lows as attempts to form a coalition government in Greece look doomed to fail before a deadline on Thursday.

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That's remodeling Greece he was a fresh flights to sixty -- German bond yields dropped to the lowest on records and you'll languishes below one -- incidental. -- season radical leftists Alexis C trust has been meeting the leaders of species to mainstream parties and the hope of pulling together a new coalition government. But the -- would -- to steal off the the last declared the real deal with -- and math and used to be now invite. Unemployment on the industrial output figures released on Thursday are likely to shall Greece's economic crisis is worsening. The last hasn't till the end of Thursday to put together a coalition but another round of elections not looks increasingly likely. The big question. Patience the -- countries also willing to play hardball much more increased out and say two years ago. Because the banks have who have some extent to disentangle themselves from the Greek situation still affair of some contagion there of course to come up put deals -- for Greece. For Greece leaving at bat today and even give rise to sixty passing 70%. I think may very well be the sacrificial lamb -- -- proven new Europe as it is being shaped as people simply are running out of patience. Most for the rest of all the other -- ahead in Europe the Bank of England holds its first policy meeting since use that Britain has slipped back into recession. The last meeting in April. Policymakers are imposing change to stunts to see the bank does not need to add to the 325. Billion pounds it's already spent on quantitative easing. Economists polled by Reuters also suggests the bank will not and -- as bond buying program. And they expect interest rates to remain on hold until at least 2014. The first quarter corporate reporting season continues with more results -- from major European companies. Manning's respondents oil had to -- -- rap soul will reflect a loss of its Argentine unit -- PF recently seized by the one as I this government. Reps Sobel published two sets of fingers on Thursday morning including and one excluding its 51% stake and Mike yes. Net profit is seen falling 23% to 504 million euros. The market is also reaching for a sausage update at end of the month setting -- plans to diversify and lots America -- Argentina. A sparkling performance as expected from -- insurance which is also looking to Latin America for growth. It it expects the -- in to account for half its new emerging market business by the end of next year. Net profit is forecast to rise 56% to 997. Million euros. A Deutsche Telekom six and it's caught profits have done one point some percent to four point four billion euros. And there this week the group based pay deal with Jim in Center City union Verdi to about strike action. Wages will rise six and a half percent by -- 2014. The world's biggest steelmaker ArcelorMittal -- global consumption growing by as much as four and a half percent this year. First quarter earnings nonetheless -- coming in virtually unchanged on Q4. -- steel plant investments and India are likely to be stalled for you up and -- the cause of bureaucratic obstacles. Plus all foot -- there's plenty more on the inside the platform. On the -- -- Reuters today we date at seven GMT a snapshot of all the meanwhile news market headlines and social media pulse. I'm giving you give up this it was.

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Europe Day Ahead: Greek chaos fuels flight to safety

Wednesday, May 09, 2012 - 03:25