Fears of a potential sovereign default by Dubai roil financial markets, sinking stocks in Asia and Europe and pushing up government-bond prices as investors sought safe havens.
Trading in U.K. shares was halted on Thursday due to a technical hitch, although before the suspension investors had been selling bank stocks amid worries about exposure to Dubai debt.
Loans to the euro-zone private sector accelerate their drop in October, while M3 money supply growth slows to its weakest pace on record, the Frankfurt-based European Central Bank reports.
The U.K. government said Thursday that it will move quickly to introduce banking pay and governance reforms suggested by David Walker, including rules that would defer a portion of bonuses by as long as five years.