Stoxx Europe 600 Index continued last week's gain. The index sets a new course for the first back-to-back advance in two weeks.
bad loans
Breaking News
Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate. The bank shares have lost close to half of its value in the last 12 months.
Canada-based Bank of Nova Scotia witnessed a strong profit surge as banking activity in domestic and international operations rose. Scotiabank has increased provision for bad loans in the oil and gas sector. The bank is expanding in Mexico, Chile, Columbia and Peru.
China Everbright Bank Co Ltd's USD2.8 billion float on Tuesday follows the steps taken by peers Huishang Bank Corp Ltd (3698.HK) and Bank of Chongqing to prepare a financial buffer against bad loans in the near future, said a Reuters report.
Moody's Investor Service had upgraded the ratings for the United Arab Emirates from negative to stable due to recent real estate recoveries and the decline of problematic loans in the market.
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