US stocks dropped on Monday

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Source: Dukascopy Bank SA
US stocks started the week on the negative note amid dismal data from Eurozone. Leaders of France and Germany failed to agree on terms of the banking union over the weekend. Moreover, German Ifo business climate index missed expectations in September, adding to fears that Eurozone will fall deeper into recession. The S&P 500 Index lost 0.22% to close at 1,456.89. Only three in ten sectors within the index climbed. The biggest gains poised defensive stocks, with utility sector advancing 0.98%. Shares of Ameren, Centerpoint Energy and Consolidated Edison Company rose 0.43%, 0.80% and 0.64%, respectively. Dragging the US stock index lower, technology and basic materials retreated 0.89% and 0.68%. Apple, Dell and Lexmark International slid 1.33%, 1.93% and 2.90%, respectively. Apple came under pressure after sales of new iPhone 5 missed forecasts. Among basic materials, Allegheny Technologies, Eastman Chemical and CF Industries Holdings dropped 0.93%, 0.91% and 0.88%, respectively.

 

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Tue, 25 Sep 2012 14:58:23 GMT

Japanese CSPI fell more than expected in August

Japanese corporate service price index fell more than expected in August, posting a third straight drop, the Bank of Japan said on Tuesday. Nation's CSPI fell to a seasonally adjusted annual rate of -0.3% from the previous month, after falling a revised 0.1% in July. The reading came in lower than the median analyst forecast of -0.2%. 

Tue, 25 Sep 2012 11:52:23 GMT

German consumer confidence set to stagnate in October

Germany's consumer sentiment is set to hold stable in October, GfK's survey results showed on Tuesday, which modestly eased concerns about the economy falling into recession.The forward-looking index seen at 5.9 in October is in line with economists' forecast. The economic sentiment index added 1.7 points, while the willingness to purchase stagnated and income expectations index fell 7.7 points.

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