Daily US Opening News And Market Re-Cap: January 8
January 8, 2013 - 8:15am
From RanSquawk Sources at Hellenic Financial Stability Fund deny reports that Greek banks need additional funds Alcoa to kickoff earnings season after the closing bell Market Re-Cap Equity markets recovered from a lower open following press reports overnight by eKathimerini that the country’s main banks are considering requesting additional funds for their recapitalization and edged higher throughout the session after sources at Hellenic Financial Stability Fund said that there no indications that Greek banks need more recap funds. In addition to that, Xinhua reported that chance of China RRR cut is increasing for January, citing industry insiders for RRR cut forecast. This follows on from the reports in ChinaDaily last week, which suggested that a small interest rate cut at the right time could substantially decrease financing costs and improve expectations for profitability, citing...
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