Stock markets across Europe are once again in retreat, despite an early bounce.
The FTSE 100 was down 1.2%, Germany’s DAX nearly 2% and Italy’s FTSE Mib down 0.4%.
Last week the FTSE suffered one its worst declines in history as investors priced in a global recession and potential euro break up.
However, the European Central Bank’s decision to buy Italian and Spanish bonds has caused the yields to decline, easing fears that both nations would need a bailout. Banks shares across Europe bounced on the news.
