FTSE 100 falls on European officials' announcements

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Source: Marketwatch
After closing lower on Thursday at 5,127.60, UK's benchmark index FTSE 100 extended its losses during Friday trade dropping 0.8% to 5,088.29. BHP Billiton PLC and Rio Tinto PLC were among main decliners both giving up 1.8% after metal prices declined. The drop in FTSE 100 is closely linked to overall drop in European markets as Angela Merkel rejected issuance of Eurobonds and Hungary was downgraded.

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Fri, 25 Nov 2011 14:03:20 GMT

Russian Urals oil prices rise on uncertainty over Iran

Prices for Russian Ural oil increased this week on the tensions between Iran and Western countries which fear they will cease Iranian oil imports. The UK and Canada already imposed financial sanctions on Iran, France proposed banning Iranian crude oil imports across Europe. The countries protest against Iranian nuclear program.

Fri, 25 Nov 2011 14:03:13 GMT

Retail sales in Italy fall

Italian retail sales have been decreasing for five months signaling on the worsening situation in the third-largest EU economy. Retail sales declined by 0.4% in September, Istat reported. Economists projected sales to be flat. Total decline in sales for Q3 is estimated as 0.6%. Industrial production also fell in Q3 contributing to bleak economic outlook of Italy.

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