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Daily 10.12.2013

The PSI-20 index in Portugal grew for the second consecutive day while major European markets declined. The Bank of Portugal revised down its GDP growth forecast for 2013 to -1.5% but expects a return to growth of 0.8% in 2014. Portuguese unemployment fell slightly to 15.7% in October but youth unemployment rose to 36.5%. European and US stock markets closed lower on concerns about the Fed's stimulus tapering and budget negotiations.

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34 views1 page

Daily 10.12.2013

The PSI-20 index in Portugal grew for the second consecutive day while major European markets declined. The Bank of Portugal revised down its GDP growth forecast for 2013 to -1.5% but expects a return to growth of 0.8% in 2014. Portuguese unemployment fell slightly to 15.7% in October but youth unemployment rose to 36.5%. European and US stock markets closed lower on concerns about the Fed's stimulus tapering and budget negotiations.

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FEPFinanceClub
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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DAILY

10th December 2013


PSI20: +0.70% DAX30: -0.88% FTSE100: -0.55% S&P500: -0.32% NIKKEI225: -0.25%
PSI-20 grew for the second consecutive day, contradicting the main European markets. The banking sector was again the main trigger: BCP (+4.44%), BPI (+1.28%) and BES (+0.69%). More >> The Bank of Portugal reviewed its expectations for the Portuguese economy, stating that this one will drop 1.5% this year, but it will be positive in 2014, growing 0.8%. More >> Portuguese unemployment registered a small drop in October, falling to 15.7%, on the other hand the youth unemployment rate grew to 36.5%. More >> European equities closed lower on Tuesday as Swiss stocks weighed on bourses, and investor caution over the timing of the U.S. Federal Reserve's reduction of its stimulus program lingered. More >> In a report, the U.K. Office for National Statistics said thatmanufacturing production (YoY) rose at rate of 2.7% in October, below forecasts for a 2.9% gain. More >> European finance ministers attempted to hammer out a deal on how to wind down failing banks, in an effort to protect the region from another economic crisis. More >> U.S. stocks fell with the S&P 500 retreating from a record close, as investors considered the timing of reduced monetary stimulus from the Fed and monitored budget negotiations on Capitol Hill. More >> Starbucks Corp. (SBUX), the worlds largest coffee-shop operator, fell the most in more than a year after an analyst at ITG Investment Research said sales growth in the Americas may be slowing. More >> U.S. wholesale inventories rose more than expected in October, showing little sign of businesses pulling back after they aggressively accumulated stock in the third quarter. More >>

Asian equity markets declined in tepid trade on Tuesday as investors digested a raft of Chinese economic reports and ignored a record close on Wall Street. More >> Chinese industrial production rose 10 percent in November from a year earlier, broadly in line with analyst expectations and compared with an increase of 10.3 percent in October. More >> Household confidence in Japan rose to a seasonally adjusted annual rate of 42.5, from 41.2 in the preceding month, while analysts had expected the index to rise 44.2. More >>

OIL(WTI $98.50/bl; 1.16% / Brent $109.45/bl; +0.27%): Oil prices rise to Six-Week High on projections of a second consecutive drop in U.S. inventories. More >> GOLD ($1260.50/oz t; +1.79%):Gold capped the biggest advance since mid-October as the dollar weakened, boosting the appeal of the precious metal as an alternative investment. More >> NATURAL GAS ($4.253/MMBtu; +0.51%):Natural gas prices rose to a six-month high in New York as storms brought snow and below-normal temperatures to the East Coast. More >>

DISCLAIMER: Daily Briefs contains a summary of financial news covered on conventional news services around the world. Daily Briefs coverage of subjects is based on t whims of its volunteer contributors. FEP Finance Club is not responsible for any imprecision or error in the content of any news.

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