Posted by
admin on February 21, 2012 |
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The European economy shrank less than economists estimate in the fourth quarter as a better-than- predicted performance in Germany and France helped mitigate the region’s first reduction since 2009.
Gross domestic product in the 17-nation euro area fell 0.3 percent from the prior three months, the first drop since the second quarter of 2009, the European Union’s statistics office in Luxembourg said today. Economists had forecast a drop of 0.4 percent, the median of 42 estimates in a Bloomberg News survey shows. In Germany, Europe’s largest economy, GDP dropped less than economists anticipated in the fourth quarter, while France’s economy surprisingly stretched in that period.
German companies have boosted output and spending over the past year to meet export demand, helping soften the impact of tougher budget cuts from Spain to Ireland. While Moody’s Investors Service cut the ratings of six of the region’s member states on Feb. 13, saying policy makers haven’t done enough to reinstate investor confidence, the economy is showing some signs of stabilization. Euro-region economic sentiment improved in January and services output expanded.
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Posted by
admin on February 16, 2012 |
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European (SXXP) stocks jumped, extending the Stoxx Europe 600 Index’s major rally in a week, as German investor confidence unexpectedly rose, offsetting downgrades of six euro-area countries by Moody’s Investors Service. U.S. index futures were little changed, while Asian shares retreated.
Royal Dutch Shell Plc (RDSA) gained 1.3 percent, dragging the Stoxx 600 higher. ThyssenKrupp AG (TKA), Germany’s biggest steelmaker, sank 2.7 percent after posting a first-quarter loss following project delays. TDC A/S (TDC), Denmark’s biggest phone company, dropped 4.6 percent after private-equity investors presented shares at a discount.
The Stoxx 600 gained 0.3 percent to 263.82 at 10:34 a.m. in London, extending yesterday’s 0.7 percent rally. The standard measure has advanced 7.9 percent this year amid optimism that the euro area will contain its crisis and as U.S. economic reports beat forecasts. S&P 500 futures expiring in March increased 0.1 percent today, while the MSCI Asia Pacific Index dropped 0.3 percent.
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Posted by
admin on February 15, 2012 |
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The Standard & Poor’s 500 Index’s biggest rally to start a year since 1991 is coinciding with a 15 percent increase in President Barack Obama’s re-election odds, viewing growing investor confidence in the U.S. financial system.
The benchmark gauge for American shares has climbed as much as 7.5 percent in 2012, the most in 21 years, as unemployment fell and Federal Reserve Chairman Ben S. Bernanke vowed to keep interest rates near zero through 2014, according to data compiled by Bloomberg. The price of a bet paying $10 should Obama win another term rose to $6 on Feb. 10 from $5.20 on Jan. 1 and below even money in November at Dublin-based bookmaker in trade.
An improved market clearly improves the president’s re- election chances,” David Kelly, who helps oversee $394 billion as chief market strategist for JPMorgan Funds in New York, said in a Feb. 8 interview. “The markets are pretty good at figuring this out.
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