ECB given overall responsibility for banking supervision by end of the year

<p>- It was established yesterday at the EU Economic Summit that the ECB will be given overall responsibility for banking supervision by the end of […]</p>

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- It was established yesterday at the EU Economic Summit that the ECB will be given overall responsibility for banking supervision by the end of the year. By 2014 all European banks will be under their direction. This was a positive move for the eurozone and the Economic summit continues today

- Other figures which may be of influence later are the UK Public Sector Net Borrowing at 9.30am and the Existing Home Sales at 1.30pm for the US

- At 9am the FTSE was at 5910, the DOW at 13543 and the DAX at 7415. All three indices are down slightly

- Barclays is among the FTSE’s biggest losers today. It suffered yesterday after it was announced that the bill for mis-sold payment protection was higher than anticipated

- Aggreko is the biggest faller down 6%, and the strongest performances have been from Burberry and Johnson Matthey

- Google shares plummeted by 9% in yesterday’s session and was suspended for two-and-a-half hours after the internet giant released its third-quarter results early by mistake

- Overall the Nasdaq was down 31 points.

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