UAIndex fell -0.54% on Wednesday, December 28, 2011 along with other major indices. The European Central Bank said banks had parked
$590.72 billion with it overnight, surpassing the record set only Monday. That means European banks were less willing to take the risk of making
short-term loans to each other, opting instead to earn low interest rates from the ECB.
The disclosure also hurt the euro, which fell to $1.29, its lowest level against the dollar since January. The worrying news from the ECB
overshadowed two successful auctions of Italian government debt. Italy was able to pay much lower borrowing rates than last month. The strong
demand from investors raised hopes that Italy would be able to avoid sinking into a financial crisis, as smaller countries like Greece and Portugal
have.
 

UAIndex