Mitsubishi UFJ
What betting: to the dollar or the euro? When many believed to have a clear idea on the subject, the latest developments added a large blanket of uncertainty about the relationship between these two currencies. In yesterday’s article we wondered if Europe should imitate us.UU. and assess the possibility of designing a contingency plan against the possible aggravation of the situation in its financial system should Europe imitating us.UU.? . I have to clarify that article I wrote before that they should give to publicize the news of the bailouts of financial institutions in Germany, England and the joint rescue of an entity by three European countries. With these facts is more than clear that it is necessary for European countries, the existence of a contingency plan.
On the day of yesterday, the turbulence at the start of the day in the international financial markets were the order of the day and made it clear what urgent and necessary was the approval by Congress of the US rescue plan.UU. But the Congress of the EE.UU. It was ignored on the first try for approval of such plan and everything was chaos at the close of the markets. While in the United States.UU. the Dow Jones fell 6.98%, in Europe closed in red with London registering a fall of 5.3%, Paris with a 5.04% negative and Frankfurt with a low of 4.23%. In Latin America, Brazil registered the worst regional low since in Sao Paulo, the Bovespa fell 9.7% while in Buenos Aires, the Merval registered a fall of 8.7%. Many innovations were also in financial institutions in several countries what happened yesterday with financial institutions? not happened, we should ask ourselves: in the United States.UU., Citigroup (NYSE:c) bought the activities of Wachovia (NYSE:Wb), Mitsubishi UFJ (TYO:8306; NYSE:MTU) purchased 21% of Morgan Stanley (NYSE:MS), which took control of the entity, which is very stricken by the crisis.