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ECB to begin bank stress tests under new role

The European Central Bank said Wednesday it will start next month to check the balance sheets of 124 eurozone banks and "stress-test" them before it becomes the sector's supervisor next year. The exhaustive year-long review will seek to sniff out risky loans and assets, insufficient capital and other dangers that would make banks more vulnerable to financial shocks. ECB president Mario Draghi called the project "an important step forward for Europe and for the future of the euro area economy". "Transparency will be its primary objective," he said in a statement.

European stocks close higher

Europe's main stock markets closed strongly on Tuesday, Frankfurt's DAX 30 climbing 0.92 percent to set a new record close at 8,804.44 points. London's benchmark FTSE 100 index added 0.64 percent to 6,549.11 points, while the CAC 40 in Paris rose 0.78 percent to 4,256.02 points. bur-rl/arp

European stocks climb at open; London up 0.28%

Europe's main stock markets advanced at the start of trading on Friday, on fresh hopes of a deal to break the US budget deadlock. London's benchmark FTSE 100 index gained 0.28 percent to 6,448.79 points, Frankfurt's DAX 30 rose 0.22 percent to 8,705.03 points and in Paris the CAC 40 index also won 0.22 percent to stand at 4,227.54 compared with Thursday's closing levels.

German Bilfinger says to axe 1,250 jobs worldwide

FRANKFURT (Reuters) - German construction and industrial services group Bilfinger SE <GBFG.DE> plans to cut 1,250 jobs worldwide, or just under 2 percent of its workforce, over the next two years as it seeks to cut sales and administration costs. From 2015, the job cuts would save up to 90 million euros ($122 million) in personnel costs as well as a low to mid-double digit million euro amount in non-personnel costs, the company said in a statement on Thursday. Bilfinger had just under 67,000 employees at the end of 2012.

European stocks close higher

European stock markets closed higher on Friday, with London's FTSE 100 index of leading shares ending the day 0.26 percent higher at 6,499.99 points. Frankfurt's DAX 30 gained 0.19 percent to 8,391.94 points, while the CAC 40 in Paris rose 0.75 percent to 4,123.89 points. bur-ln/rl

European stocks close down

European stock markets closed down on Thursday, with London's FTSE 100 index of leading shares ending the day 1.58 percent lower at 6,483.34 points. Frankfurt's DAX 30 fell 0.73 percent to finish at 8,376.29 points, while the CAC 40 in Paris shed 0.51 percent to 4,093.20 points. bur-rl/dh

European stocks close mixed

European stock markets closed mixed on Monday, with London's FTSE 100 index of leading shares sliding 0.14 percent to 6,574.34 points. Frankfurt's DAX 30 rose 0.25 percent to 8,359.25 points, while the CAC 40 in Paris dipped 0.12 percent to 4,071.68 points. bur-ln/rl

European stocks close higher

European stock markets closed higher on Friday, with London's FTSE 100 index of leading shares adding 0.82 percent to 6,583.39 points. Frankfurt's DAX 30 rose 0.24 percent to end at 8,338.31 points, while the CAC 40 in Paris gained 0.30 percent to 4,076.55 points. bur-ln/rl

Commerzbank CEO will stay on to complete revamp: paper

FRANKFURT (Reuters) - Martin Blessing, chief executive of German lender Commerzbank <CBKG.DE>, said he will not step down from the bank until his reform program has been completed. "It would be absurd to give up prematurely," Blessing told German newspaper Handelsblatt in an interview. "I can and want to bring the reorganization of Commerzbank to a successful end. That is my goal," he said.

European stocks close lower

European stock markets closed lower on Tuesday, with London's FTSE 100 index of leading shares slipping 0.23 percent to end at 6,604.21 points. Frankfurt's DAX 30 lost 1.17 percent to 8,299.73 points, while the CAC 40 in Paris finished 0.43 percent lower at 4,032.57 points. bur-ln/rl
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