Morning in brief: Game admits “no equity value” left in company

Trading in Game Group is suspended as the board reassesses its financial position, while European markets open higher after Chinese growth fears abate.

Markets

European stocks rise in early trading, while US markets are expected to open higher, after investors’ fears over a slowdown in China start to ease, according to the Financial Times.

Companies

Trading is suspended in shares of video game retailer Game Group after the board says “there is no equity value left in the group”, the BBC reports. The company has been hit by competition from online rivals such as Amazon.

Italian insurer Generali says net profit fell to €856m (£713m) over 2011, down from €1.7 billion the year before, after a writedown of Greek bonds and equities, according to the Wall Street Journal.

International

Ben Bernanke, chairman of the Federal Reserve, calls on Europe to offer more support to its banks to aid the resolution of the region’s debt crisis, Bloomberg says.