Two of Europe’s biggest banks – Credit Suisse and Deutsche Bank – will be dropped from an index of Europe’s top 50 blue-chip companies next week in a further blow to the embattled sector. The decision came following a near halving in value of Credit Suisse and Deutsche shares this year. Source: Reuters
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Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. Source: Bloomberg
The Federal Reserve has said that it will start to run down some of the investments it made to boost the US economy after the financial crisis. In October the Fed will start to reduce a $4.2trn portfolio of US Treasury bonds and mortgage-backed securities, it said. Source: BBC News
S&P Global Ratings downgraded China’s long-term sovereign credit rating by one notch on Thursday to A+ from AA-, citing increasing risks from the country’s rapid build-up of credit. Source: Reuters