The Euro and European Shares Advance on ECB

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Source: Reuters
On Wednesday, a European Central Bank policymaker said that there were reasons for issuing a banking license for Europe's permanent rescue fund, that would let them acquire unlimited ECB loans. The comment has boosted demand for the Euro which jumped to $1.2115. The FTSE Eurofirst .FTEU3 index lifted 0.1% at 1,019.52 points.In meantime EU officials report that Greece is unlikely to meet the terms of the bailout.
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Wed, 25 Jul 2012 14:30:38 GMT

U.K. GDP unexpectedly declined 0.7% in Q2

According to the Office for National Statistics, the U.K. GDP unexpectedly slumped 0.7% in the second quarter, the biggest contraction since 2009, following a 0.3% contraction in the Q1, indicating that economy experiences recession. The U.K. economy shrank 0.8% on annual basis.    

Wed, 25 Jul 2012 09:59:34 GMT

China's economy to be challenged by headwinds

The IMF stated that China's economy may confront considerable risks to growth with the national currency being moderately undervalued. Moreover, the IMF officials highlighted China's over reliance on investment. The economy is expected to experience a soft landing; however, to make it happen is a main challenge, said the IMF. Still, China is ready to respond to further worsening of

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