All the latest business and financial news, as Asian markets hit their lowest levels in nine months and Belgium braces for a general strikeAsian shares hit lowest since MarchAnger as EC commissioner visits AthensIntroduction: Fear swirl over markets 8.25am GMT The Russian rouble has begun the week by shedding more value, as Moscow traders fear the impact of new Western sanctions.The rouble fell 0.7% to a new record low, hitting 58.79 roubles to the US dollar.After Russian markets closed last week, the U.S. Congress passed a bill setting out tougher sanctions on Moscow and authorising the supply of military aid to Ukraine.The bill “will be negative for market sentiment,” analysts at Sberbank investment research wrote in a note.http://t.co/KFGoYKof1o *Russian Rouble Hits Record Low Of 58.69 Against U.S. Dollar http://t.co/As4d6EiJ87 #news #live #forex #trading 8.18am GMT Europe’s stock markets are open..... and shares are doing rather better than expected. 8.04am GMT Pierre Moscovici, Europe’s economic and financial affairs commissioner, is heading to Greece today for talks with the government.He arrives in Athens two days before MPs hold the first ballot to elect (or more likely reject) a new president.I have always said that we need Greece in the eurozone and we need a strong Greece. “An operation of terror, of lies, is underway...An operation whose only aim is to sow terror among the Greek people and MPs, and to thrust the country ever deeper into the poverty and uncertainty of the memorandum [bailout agreement].I will be in Athens on Monday 15 and Tuesday 16: solidarity of the @EU_Commission with #Greece and its people http://t.co/FyyntkKcEO 7.42am GMT IG predicts that the main European markets will fall by around 1% at the open, following Asia’s lead:Their Stan Shamu says:Greece will remain a main point of focus this week with the first round of presidential elections taking place on December 17. Given Greece was a big source of volatility last week, this should be a key event for fixed income and in turn the single currency and equities. 7.39am GMT Asian traders didn’t take much comfort from Japanese prime minister Shinzo Abe’s election win yesterday.The main index of Asia-Pacific shares, calculated by MSCI, hit its lowest level since March at one point, with Japan’s Nikkei dropping by 1.6%.“Today’s Tankan survey suggests that Japan’s economy stabilized in the fourth quarter, but a rapid recovery is not on the cards.”Abe wins unnecessary #Japan election. Now he has renewed mandate, will he actually reform? I’m not optimistic. 7.27am GMT Good morning, and welcome to our rolling coverage of the financial markets, the world economy, business and finance.The final month of 2014 is proving much more eventful than investors expected, and not in a good way. Last week saw a surge in volatility measures and a renewed flight to safe havens across most asset markets; a timely reminder, as the (primarily bullish) previews of the outlook for 2015 begin to emerge, that markets still face a wide range of economic and political challenges moving into the new year. Continue reading...
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