Morning roundup: Facebook to switch exchanges; Canadians vs. low housing prices

By Staff | May 25, 2012 | Last updated on May 25, 2012
2 min read

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Facebook my change exchanges

Errors by Nasdaq in last week’s Facebook IPO have sparked talk about the stock switching its listing to the New York Stock Exchange, and Morgan Stanley says it will adjust prices for investors who initially overpaid. Broker losses on Facebook are said to approach $100 million.

Canadians could withstand low housing prices

While debt levels remain high in Canada, households could still withstand as much as a 40% drop in house prices without defaulting on their loans, says a report by debt-rating agency DBRS.

House prices aren’t likely to fall that drastically, however, says DBRS. Its recent report was conducted as a kind of stress test that looked at the possible effect of rising interest rates and falling house prices on Canadians.

Read: Canadians better than rest for more on how a mortgage crisis wouldn’t bring down Canadian banks.

The growth engines slow

China, long the haven of producers of input materials producers trying to ride out the recession, is finally experiencing a slowdown. Growth forecasts for India are also being trimmed.

Bankia shares suspended on Madrid exchange

This morning, Bankia shares were suspended on the Madrid stock exchange. Following an announcement last night, the Spanish bank is expected to ask for a rescue of more than 15 billion euros ($19 billion) from the state.

Meanwhile, the government is nationalizing Bankia, which holds up to 10% of the country’s bank deposits.

Enjoy your day, The Editors staff


The staff of have been covering news for financial advisors since 1998.