(18 Jul 2011)
Madrid, Spain
1. Pan interior of Madrid stock exchange
2. Wide of brokers at stock exchange
3. Close up of screen reading (Spanish) Madrid Stock Exchange
4. Mid of brokers looking at screen
5. Wide exterior Banco Pastor
6. Close up of sign for Banco Pastor reading (Spanish) "Here we are"
7. Wide exterior pan of CAM (Caja de Ahorros del Mediterraneo)
8. Mid sign for CAM
9. SOUNDBITE (Spanish) Beatriz Gonzalez, 62, vox pop:
"I have to trust them because I have investments with them (the banks). I am hoping that they are not going to go to the wall. But you have no choice, you can't keep the money under the mattress anymore."
10. Wide exterior of Caixa Catalunya
11. Close up of sign for Caixa Catalunya
12. SOUNDBITE (Spanish) Javier Varela, 58, vox pop:
"My opinion is that according to these stress tests, I think that's what they are called, the health of the Spanish banks is in principle good. I am not particularly worried about the little money I have with them (the banks)."
Milan, Italy
13. Close up of Milan Stock exchange sign
14. Broker entering stock exchange
15. Various of city streets
16. SOUNDBITE (Italian) Mario Corno, pensioner:
"I believe, It is always the average citizen that pays, the last wheel of the cart, it is useless to say during the electoral campaigns that 'I won't put my hands in our citizens' pockets'."
17. Wide of newspapers
18. Headline from daily 'La Stampa' reading (Italian) "Government: new line-up. Berlusconi to meet with President Napolitano"
19. Headline from daily 'Sole 24' reading (Italian) "Market exam for Italy"
Rome, Italy
20. SOUNDBITE (English) Gianmaria Bergantino, Asset Manager of Insinger de Beaufort bank:
"The week opened with the market down (approximately) one percent, (showing) it is still really volatile. We see an opening (which is) negative and then market tries to go up but the concerns about the debt are still really high so the market failed to reach the parity. Actually we are down one percentage, more or less in line with all the other European markets."
21. Close of monitor showing ITA GERMANY spread index at 317
22. SOUNDBITE (English) Gianmaria Bergantino, Asset Manager of Insinger de Beaufort bank:
"(The market is) really worried about the European Committee, and it's not a really quick response on problems concerning Greece."
Frankfurt, Germany
23. Various exteriors of German Stock Exchange with Bull and Bear symbols.
24. Stock Exchange trading floor.
25. SOUNDBITE (German) Fidel Peter Helmer, Director from Hauck & Aufhauser Private Bankers:
"These stress tests were somewhat more extensive, but I feel at this present time in the financial crisis that one did not want to make the investors too uncertain, although what was maybe required was that that criteria (for stress tests) perhaps needed to be more severe."
26. Brokers at Stock Exchange floor
STORYLINE:
Worries that Europe's debt crisis will spread to Italy and Spain weighed on markets on Monday after stress tests on the continent's banks failed to ease tensions ahead of an emergency meeting of EU leaders.
In early trading, most of Europe's main stock markets were sharply lower, with bank shares hit particularly hard, while the euro fell 0.6 percent to 1.4036 US dollars.
In a sign that contagion fears have not been allayed by last week's European bank stress test results, yields on Italian and Spanish bonds ratcheted up further.
The rate on ten-year Italian bonds spiked up 0.19 percentage point to 5.88 percent, while the Spanish equivalent rose 0.18 percentage point to 6.26 percent.
By midday the index dropped 7 points.
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