Word: frankfurt
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Dates: during 2000-2009
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...That realization is dawning around the world. Frankfurt's DAX opened 5.3% down Friday, while Paris's CAC 40 was 4.8% lower at the opening bell. In London, where officials are expected today to confirm that the UK economy has entered recession for the first time in 16 years, the FSTE 100 opened 5% lower...
Though stock exchanges are trying to, at least at the margin. Reto Francioni, CEO of Deutsche Borse, a stock exchange in Frankfurt, described how volatility disruptions now kick in hundreds of times a day. When a stock's price jumps outside of its proscribed range, word goes out and trading switches over to an auction format for about five minutes to give all the market participants a chance to regroup, process any new information they might have - and to prevent the volatility from feeding on itself. "When markets aren't acting rationally, it's healthy to slow them down," said...
Friday's stock-market action was a microcosm: in Tokyo the Nikkei was down 9.6%; in Frankfurt the DAX - after dropping as much as 10% during the session - was down 5%; in São Paolo the Bovespa was down 6.35%. It was a global panic! Until things got to New York. The Dow and S&P both ended the day down about 3.5%. Big deal...
...fitting end to what has been a remarkably bubbly period for London. Over the past decade and a half, ever since its last protracted downturn, the British capital has transformed itself into Europe's indispensable financial center. Leaving Frankfurt and Paris in the dust and encouraged by the policies of Gordon Brown, the current British Prime Minister, it has become a magnet for people, jobs and investment from around the world. The big U.S. banks made London their international hub, and the major banks of continental Europe moved much of their trading and investment-banking operations there. About...
...Europe's leading bourses also began stronger, with London's FTSE 100 1.67% higher nearing mid-day Monday, while Paris CAC 40 gained 1.46% and Frankfurt's DAX up .8%. Futures trading in the U.S. similarly pointed to 2.4% opening advance Monday on Wall Street, though that early action could change as a series of company earnings figures are released, giving investors a better idea of how quickly U.S. economic growth has slowed...