By the end of the quarter the US broader index, The S&P 500, gained (6%), Europe stock (up 13%), India equity (up 17%), China region (up 4%) and Japan stock (up 5%).
On the macro side, On Friday, Spain bank stress test shows that spanish banks would need up to €59.3 billion in capital injections, according to the final results of the stress tests run by Oliver Wyman. This estimation is really close to market expectations of around €60-€70 billion.
In a scenario where tax credits and mergers are taken into account, the shortfall is €53.7 billion.
Audit results stated that 7 banks need capital while other 7 don't. Alone, Bankia capital shortfall is €24.7 billion, while taking all the nationalized banks together, Bankia, CatalunyaBank, NovaGalicia Banco and Banco de Valencia, the capital need is €46.2 billion.
Spain banks are not the only concern, Investors also remain wary about the outlook for Spain, which is expected to need a full international bailout at it struggles to raise funds for deficit-laden regional governments while recapitalizing its struggling banks.
But the uncertainty about Spain and the wider global economic outlook follows a strong third quarter for many financial markets, when aggressive actions by major central banks to ease policy boosted prices.
EUR/USD Weak Asian economic data today and concerns about Spain's public debt problems briefly pushed the euro to a three-week low on Monday, but European shares were higher as investors took advantage of recent falls to buy back in to market.
The euro fell as low as $1.2804 early on Monday before recovering to be little changed at about $1.2890.
'The market has entered ‘glass half-empty' mode,' analysts at Morgan Stanley said in a note, signaling that each piece of weak economic news will probably be interpreted negatively.