Thursday, December 23, 2010

Irish Government Takes Control of Allied Irish Bank (AIB)

This just in, fresh off the heels of a US dollar futures spike, we have the Irish Government taking control of Allied Irish bank. Perhaps this Thursday will not be quiet as quiet as we had planned or hoped for...
"The Irish government will invest EUR3.7B into Allied Irish Bank (AIB), bringing its ownership stake to 93% says Reuters. AIB will end its listing on the main Irish and British stock markets. The bank will apply for listing on the enterprise securities market of the Irish exchange."
Also just out, Fitch downgrades Hungary to BBB-; outlook negative.

Spot gold took a dive through 1380 and the SPooz broke support at 1253

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