Athens stock market down 3.6%, bank index plunges 7.3%
The Athens stock market fell 3.6 percent in trading on Thursday, with the banking index plunging 7.3 percent over concern about the state of the Greek economy. The stock market has been under pressure since three Greek banks were found to be short of capital on Sunday under stress tests of eurozone banks by the European Central Bank. Stock in Eurobank was down 7.14 percent and in National Bank of Greece 8.0 percent. Stock in Piraeus Bank was down 5.88 percent.
South Africa cbank's Marcus says CPI targets reduce price pressure
PRETORIA (Reuters) - South Africa's central bank defended its inflation targeting policy on Thursday, saying it had helped reduce price pressures and contributed to more favourable economic growth. Governor Gill Marcus, whose five year term in office will end on Nov. 8, told a conference on inflation targeting that raising its band from the current 3-6 percent would probably push CPI higher. ...