Central and eastern European markets were relatively quet today in contrast to last week, with most gains and losses minimal. Positive trading carried on from Wall Street’s rally last Friday, but a global flight from volatile markets continued to be the general trend. The euro declined Monday, reversing gains made last week. After a brief rally in the morning, the euro was squeezed by news from Spain that the central bank rescued savings bank CajaSur. Regional currencies were mainly up against the dollar in the late afternoon.

“Almost any news is bad news for the euro,” Vassili Serebriakov, a currency strategist at Wells Fargo & Co in New York told Reuters. “There’s some concern about whether this European bailout package is essentially a way to buy time for some of the European financial institutions to shore up their capital.”