European Stocks rose to the highest in almost nine months as former U.S. Federal Reserve Chairman Alan Greenspam said the recession may be ending, Chinese manufacturing expanded and earnings from HSBC Holdings Plc and Barclays Plc boosted banks, Bloomberg reports.
Meanwhile, the solid results from the pair, which shunned a government bailout at the height of the crisis last year, inspired an across-the-board rise in banking stocks.
"It may be that we have passed, or are about to pass, the bottom of the cycle in the financial markets," said HSBC Chairman Stephen Green , BusinessWeek reports.
"The environment has remained very difficult in 2009 as a consequence of the onset during 2008 of economic recession in most parts of the world in which we operate. But we were nonetheless solidly profitable," Chief Executive John Varley said , Wall Street Journal reports.
The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz
The World Cup that is about to finish in Russia has shown that the Western propaganda machine has failed to create the image of Russia as a monster with "many tentacles." By and large, the Russians and the Ukrainians are close to each other