Someone sold CHF: After having traded tightly for a long time, the EUR/CHF jumped in a matter of minutes on Thursday. David's post charts the significant move, attributable to rumors. Goldman Sachs has a twitter profile: They still don't know how to use it, though. Fortunately, Tracy Alloway does. Check out her live-tweeting of Goldman's shareholder meeting here. Joseph's post also gives us Nomura's take on Goldman after Basel III. US growth is car-driven: Cardiff writes that 30 per cent of US GDP growth in the last two quarters can be attributed to car sales. While car sales have increased, there's still room for growth because there are still lots of aging vehicles out there. Bankia has been suspended from trading: David tells us that the rumours suggest the suspension is due to a request for more than €15bn in state-bailout funds. Please, don't vote for us: Spain doesn't want to win the Eurovision song contest because of the significant costs associated with holding it next year. Izzy's post goes through the usual voting patterns and wonders whether anyone really wants to win, except for Azerbaijan. Bankia prepares to request more state aid: Shares in Bankia were suspended on Friday morning ahead of a board meeting at the part-nationalised bank to finalise the amount it will request in aid from the Spanish government. Fund managers dump euro assets: Amundi, Threadneedle Investments and Merk Investments are among funds noted to be limiting euro exposure amid rising fears over a possible Greek exit from the eurozone and single currency turmoil (FT.) Mario Draghi reassures markets: Draghi called for the European political leaders to make "a brave leap" towards greater fiscal union. However the euro reached a 22-month low against the dollar on Thursday (FT). China's biggest banks to fall short of 2012 loan targets: Steep declines in April and May point to total loans for the year of 7tn yuan instead of the 8tn - 8.5tn the government is believed to be targeting (Bloomberg). Diego Hernández quits as chief executive of Codelco: Sources close to the company say the move is due to differences with the board over management style, and not the dispute with Anglo American, which appears to be nearing rapprochement (FT). Market-maker losses on Facebook put at $100m: Some traders at Goldman Sachs and JP Morgan lent out Facebook shares to hedge funds for short sales. Top market makers, meanwhile, collectively lost about $100m on the Facebook Nasdaq glitch (Reuters) Airbus shelves production rise: The airplane maker has shelved a plan to boost output of its popular A320 single-aisle jetliner, with executives citing concerns about the global economy and airlines" access to finance. Head of the Vatican bank ousted: The move comes after Ettore Gotti Tedeschi received a vote of no confidence from the bank's board of laypeople (FT). Markets: "Wary about risk" was the underlying theme as markets attempted to end a volatile week in a tentatively positive mood. So far on Friday there was little in the way of fresh market catalysts for traders to get their teeth into. Rather it was the long term points of focus - chances of further financial system and economic turmoil from a possible Greek euro exit, and waning growth in China - that continued to determine investor strategies. The FTSE All-World equity index, which has vacillated sharply on every eurozone-linked sentiment shift - was up 1.8 per cent over Monday and Tuesday, down 1.3 per cent on Wednesday - was up 0.1 per cent. The benchmark has lost 8.3 per cent so far in May and hovers near its lowest level since the start of the year. This entry was posted by Izabella Kaminska on Friday, May 25th, 2012 at 10:34 and is filed under Uncategorised.