People around the continent are still struggling to make it to payday as stock markets and economies in general show underlying problems. There are however some small signs of light from Europe.
European stocks rose yesterday, after falling the most in two months Wednesday, amid speculation China may announce new stimulus measures to bolster economic growth and as Spain’s cabinet approved the 2013 budget.
Credit Agricole SA advanced 3.8 percent after saying it may soon sell its Emporiki Greek unit. Opal SA jumped 3 percent after Greece’s Hellenic Republic Asset Development Fund published calls for expressions of interest for the government’s stake in the company. Short term credit is the main problem for many as same day payday loans are being looked at in greater numbers than before. Hennes & Mauritz AB, Europe’s second-largest clothing retailer, slid 5.8 percent as third-quarter profit missed analyst projections.
The Stocks Europe 600 Index added 0.3 percent to 271.65 at the close of trading. European shares have rallied 8.2 percent so far this quarter, heading for the biggest quarterly advance since 2009. People are increasingly looking to apply for text payday loans as a way of obtaining finance. The gauge has jumped 16 percent from this year’s low on June 4 as European Central Bank policy makers agreed on an unlimited asset-purchase program and the Federal Reserve announced a third round of quantitative easing. Wage earners are still hoping for conditions to improve so they can find making ends meet not as difficult. Short term credit availability is becoming harder and harder to find for almost everyone.