Gold fell one percent in thin holiday trade on Monday, heading for its biggest annual loss in more than three decades at nearly 30 percent, as rising appetite for risk and the prospect of a global recovery stole its shine.
European stocks inched lower early on Monday, halting the sharp rally they began in late July, but the losses were limited by growing expectations of bold action by the European Central Bank (ECB) to lower the borrowing costs of Spain and Italy.
European shares hit a 26-month high on Thursday on optimism the US tax cuts would boost consumption, with technology stocks boosted after ASML lifted its booking forecast.
By 0809 GMT, the pan-European FTSEurofirst 300 i
Libya's $65 billion sovereign wealth fund aims to buy into European utilities, drugmakers and other companies with technology that may be useful for the country, the head of the Libyan Investment Authority said.
The fund, which holds aroun
World stocks began the final quarter of 2008 on an upbeat note on Wednesday as hopes grew that US lawmakers could reach agreement to revive a $700 billion bailout, but money markets remained stressed.
The US Senate will vote later on a new