European Markets

Resource stocks mirror global economy - Decline of groups involved in supplying essential raw materials for business show how investors really feel about the global economy’s direction

ICAP secures Plus exchange licence - The world’s largest interdealer broker will pay a nominal £1 and take on liabilities and running costs for lossmaking quotations and listings arm

Haven rush drives bond yields to lows - Possibility of Greek euro exit has rattled markets and caused investors to buy ‘safer’ assets, pushing UK and German borrowing costs to lows

Spanish banks defy Moody’s downgrade - Bankia rises 23% to lead sector-wide rebound, helped by reports that Madrid has hired Goldman Sachs to carry out a valuation of the lender

Bankia hit by report of withdrawals - Part-nationalised lender’s shares placed ‘under auction’ by regulator after it loses more than a quarter of its market value in Madrid

JC Penney tumbles after poor sales - Disappointing quarterly sales send shares in JC Penney down sharply while developments in the eurozone washed away early gains for US equities

National Bank of Greece takes knock - Møller-Maersk drops despite beating forecast earnings, as markets fall on eurozone concerns and investors turn their attention to Spain

Maersk suffers heavy loss at container arm - Settlement of tax dispute in Algeria and investment gains mask first-quarter decline as Danish group highlights problems facing sector

Businesses brace for Greek exit - Some Asian and US groups say they will feel little impact from Greece leaving the euro while their European counterparts prepare for the worst

Asia dives as risk aversion takes hold - FTSE Asia Pacific falls as eurozone fears weigh on markets, hitting financials and exporters and capping gains for Japanese lenders