Nov. 17 - France and Germany have stepped up their war of words over whether the ECB should intervene more forcefully to halt the euro zone's debt crisis after modest bond purchases failed to calm markets.
-- in London nine in Frankfurt down Stephen about Europe's ability to contain its sovereign debt crisis -- France and Germany clash over the ECB's bombarding role. Europe -- central powers of stepped up their war of words over whether the ECB should intervene more forcefully off the modest purchases failed to calm the markets. French finance minister Francois -- -- so once the Euro zone's EFSF bailout fund. To be given up banking license which would allow it to borrow from the ECB but German Chancellor Angela Merkel says European Union rules prohibit any such action. She professed close a political unions were changed in the huge Ricci. Markets today keenly awaiting French and Spanish bond auctions for clues ever whether soaring duels can be cap its. Meanwhile signs the IMF assessing a more forceful course of action in dealing with the European crisis it's appointed a powerful. Well connected inside -- is -- European director. Race MR Obama will replace Antonio bogus it was that down. Citing personal reasons to the markets now German born storing support warnings banks may be hit by the spreading here -- -- crisis. Moody's just cut the ratings of twelve German public sector banks contagion fears have also been lifted by Fitch's warning that the situation. In Europe. Could cut the credit outlook for the US banking industry. -- invest is now on the extent of any ECB debt purchases. The -- charming and losses off hitting a -- -- have won 3421 earlier against the dollar and one I 340 against the yen. To single currency like he's taking its cues from those French and Spanish born cells later on today. And European -- thought and -- negative territorial Fitch's comments led to a set off. On Wall Street FTSE you Arafat's. Opening down five tenths of 1% of its ought to play this morning. Corporate news SABMiller. Has narrowly missed four cost more than 11% rise in half your earnings to bring John cautioning. The trading in Europe and North America we'll stay tough as input costs rise. That's this morning Symbian SABMiller has -- equities analyst that Richard -- how things -- here's wanted to. Yes good morning actual despite the -- still healthy debate at 19% growth in free cash flow which is a fantastic performance. From the free cash for perspective. Way to be spending tens of animation the forward PE multiple list of fifteen times twelve month after the EV do but -- multiples nine point four out months out. So it did this what's to stop in the bottom fifty descendant of a relative attractiveness on a peer group comparison not particularly effective racked up but. If you look at the prostate praising valued at zero point 79 is still upside in the stopped the run about 28 Barron's. From intrinsic value perspective but right now but that the financial perspective not particularly attractive but you have to admit it. From from a -- -- perspective and do it misses the bigger perspective -- Richard many thanks -- are coming up the world go -- -- for investment markets dropped. Discusses the latest don't demand trends on sort of investment bond in the third quarter cent. -- matchup problems is noises.