Europe stocks are mostly higher

Note: This section contains information in English only.
Source: Marketwatch

Europe's stocks increased being supported by banks. The Stoxx Europe 600 index added 5% to 234.94 mainly due to higher banking shares with UniCredit SpA and BNP Paribas SA both gaining 3.6%. The France's CAC 40 index rose by 1% and German DAX 30 index increased by 0.7%. However, the drug shares suffered losses with AstraZeneca and GlaxoSmithKline PLC edging down by 1% and 1.1% respectively.

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Tue, 20 Dec 2011 12:41:47 GMT

Euro appreciates on German business confidence

17-nation currency recovered on Tuesday after European finance ministers agreed to provide extra funding worth $195 bn through IMF. Euro appreciation was also fuelled by unexpected rise in German business confidence. European common currency gained 0.3% against US dollar, reaching $1.3040. Currently EUR/USD is trading at $1.3079.

Tue, 20 Dec 2011 12:41:16 GMT

Swedish central banks to cut key rate on economic downturn

The central bank of Sweden, the Risksbank, reported it plans to decrease the repo rate to 1.75%, down by 0.25% citing the deepening recession in the Euro Zone that impacts country's exports. The bank also announced when the situation stabilizes the rate will be gradually raised. Moreover, Risksbank cut the GDP growth forecast to 1.3% next year and to 2.3% in 2013.

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