UK stocks move lower after trade balance data

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Source: Dukascopy Bank SA
FTSE 100 Index extended previous losses on Thursday on pessimistic data from the UK. UK trade gap widened to GBP28.3 billion as exports tumbled by 4.9% in Q2. Sending UK stocks lower, the ECB cut its growth forecast for the Eurozone from 1% to 0.6% for 2013. FTSE 100 Index lost 0.2% to trade at 5,830.81 at the time of writing. Top-gainers were technology stocks, with Sage Group adding 0.71%. On the upside was also Standard Chartered. The company soared 3.53% as it continues to deny US allegations. US accused Standard Chartered of money laundering.  On the downside were telecommunication and health care industries. BT Group and Vodafone dropped 2.39% and 0.89% while Smith & Nephew slid 0.52%. Meanwhile, AMEC lost 6.47% despite reporting a 25% increase in H1 earnings and a 15% rise in interim dividend.

 

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Thu, 09 Aug 2012 14:22:15 GMT

DAX slides on ECB growth forecast cut

German shares continued to decline on Thursday on deteriorating outlook for the single currency union. On Thursday, the ECB cut its growth forecast for the Eurozone from 1% to 0.6% for the next year. German DAX Index declined 0.76% to trade at 6,917.54 at the time of writing. Eight out of nine sectors included in the index retreated. Top-losers were

Thu, 09 Aug 2012 16:58:15 GMT

Germany's exports and imports tumbled in June

According to the Federal Statistics Office, German's exports and imports tumbled in June by 1.5% and 3%, respectively, from the previous month.  The total value of exports is at 92.3bn euro level, while the value of imports is 76.1bn euros. Despite worsened fundamentals, the exports to other countries, which are outside of the Eurozone, soared 20% from a year earlier.

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