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- Spain banking sector shaken by report of bank run
 Confidence in Spain's banks and its teetering economy was shaken Thursday after a newspaper reported that depositors were rushing to withdraw their money from Bankia, a troubled bank that was effectively nationalized just one week ago.
- Moody's downgrades 16 Spanish banks
NEW YORK (Reuters) - Moody's Investor Service carried out a sweeping downgrade of 16 Spanish banks on Thursday, including Banco Santander, the euro zone's largest bank, citing a weak economy and the government's reduced ability to support troubled lenders. All the banks' long-term debt ratings were downgraded by at least one notch, and some suffered three-notch cuts. Spain's banks, awash in bad loans after a real estate boom went bust, are at the heart of the euro zone debt crisis because markets fear a state bailout would put a severe strain on the country's already stretched public finances. ...
- Canada dollar hits 4-month low in "new chapter" of Europe crisis
TORONTO (Reuters) - Canada's dollar hit a four-month low against the U.S. dollar on Thursday as investors were gripped by worries about European banks and the prospect of Greece leaving the euro zone Uninspiring U.S. and Canadian economic data added to the gloom. Fears about Spain's banks resurfaced after a newspaper report that customers at Bankia , the partly nationalized lender, had withdrawn more than 1 billion euros from their accounts in the past week. The Spanish government said there had been no exit of deposits. ...
- US stocks lose over 1% on Europe fears
 US stocks closed with losses well above one percent Thursday as negative news continued from Europe, with Greece's woes deepening and Spain falling into recession.
- Spanish regions, central govt agree deep spending cuts
MADRID (Reuters) - Spain's central government on Thursday approved plans to drastically cut the spending of its indebted regions this year and said it would introduce by July a new mechanism to back their financing needs. As the country races to control finances in its autonomous communities and reassure investors it can meet fiscal targets, the government said the regions had committed to slash spending by 13 billion euros ($16.52 billion) and increase revenues by 5 billion euros ($6.35 billion). ...
- Spain debt costs to leap at bond sale as investors eye Greece
MADRID (Reuters) - Spain's medium-term borrowing costs will rise sharply at auction on Thursday, with concerns over the health of the recession-hit country's banking sector heightened by fears that Greece may leave the euro zone. The Treasury aims to sell between 1.5 billion and 2.5 billion euros ($1.9 billion-$3.2 billion) of sovereign bonds expiring in 2015 and 2016. But with nervous investors dropping assets from euro zone periphery countries like Spain, finding buyers may prove expensive, and it could pay around 5 percent on the longest bond - half as much again as in March. ...
- S.Africa stocks lower as Investec hit
JOHANNESBURG (Reuters) - South African stocks slid nearly 1 percent on Thursday, as investment bank and asset manager Investec was hit after reporting a 26 percent drop in full-year earnings. While overall sentiment was bruised by deepening turmoil in Greece and Spain, gold miners rose, due to a recovery in the price of bullion. Shares of Investec fell 2.3 percent to 42.35 rand, after the bank reported full-year earnings that were down by a quarter, hit by exposure to Australia and a weak investment banking unit. ...
- Wall St falls on Europe woes, US data
NEW YORK (Reuters) - U.S. stock indexes fell on Thursday as weak economic data spooked investors already concerned about Spain's economy and banking system, and about developments in Greece. A gauge of future U.S. economic activity fell in April for the first time in seven months and the Philadelphia Fed business conditions index hit its lowest since September, compounding worries about a struggling economic recovery. "The market wasn't prepared for this; it was expecting risks from Europe," said Subodh Kumar, chief investment strategist, Subodh Kumar & Associates in Toronto. ...
- Wall St flat as investors eye Europe
NEW YORK (Reuters) - U.S. stocks were little changed on Thursday following a choppy futures session as investors focused on concerns about Spain's economy and banking system and reacted to headlines from Greece. The Dow Jones industrial average dropped 5.00 points, or 0.04 percent, to 12,593.55. The Standard & Poor's 500 Index dropped 0.28 points, or 0.02 percent, to 1,324.52. The Nasdaq Composite Index gained 0.78 points, or 0.03 percent, to 2,874.82.
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Europe's main stock markets tumbled Thursday and the euro hit a new four-month dollar low as worries spiked over the eurozone debt crisis that is plaguing Greece and now circling Spain.
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