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Wednesday, August 10, 2011

Spreading Concerns

Concerns about European debt issues have rocked the markets for some time now, though the fears have mainly been limited to smaller, so-called peripheral economies, such as Greece and Portugal.

However, analysts said the emergence of new worries that the region's biggest economies may also be vulnerable has fanned fears further.

"As the economies get larger, the chances to bail them out are going to get slimmer," said Mr Robinson.

On Wednesday, France's Cac share index ended down 5.5% despite the French government's assurance that its credit rating was not under threat.

While ratings agencies Moody's, Standard & Poor's and Fitch reaffirmed France's AAA credit rating, analysts said investors remained skepitcal about the country's financial health and the stability of its banking sector.

Shares of French lender Societe Generale fell as much as 20% after it was forced to "categorically" deny it was under financial pressure. The shares ended 15% lower.

"I think there's concern about just how much Greek debt French banks really do hold and how much the European Central Bank is willing to backstop all this," said Bret Barker of TCW.-Asian stocks are mixed on growth and Europe debt fears

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