S&P 500 trades flat on Monday

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Source: Dukascopy Bank
S&P 500 index traded almost flat on Monday as gains from higher that expected retail sales in March were offset by Apple Inc which faced the biggest daily drop since October. US benchmark slipped 0.05% or 0.69 points to 1,369.57. Apple lost 4.2% on news mobile-phone carriers may decrease subsidies for the iPhone. Mattel plunged more than 9% after posting a 53% decline in 1st-quarter earnings. Financials supported the index on the upside with Goldman Sachs adding 2.3% and Citigroup Inc climbing 1.8%. 

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Tue, 17 Apr 2012 13:41:54 GMT

Hang Seng gives up 0.2% on Tuesday

Hong Kong's Hang Seng index traded slightly lower on Tuesday as investors remained cautious regarding Spain and data showed FDI in China fell 6.1% in March. Hang Seng index shed 0.23% or 48.33 points and finished at 20,562.31. Chinese banka contributed the main losses to the index as China Construction Bank dropped 2%. China Southern Airlines and China Eastern Airlines

Tue, 17 Apr 2012 13:51:47 GMT

Spain's austerity measures threatens economy

Spanish efforts to reduce debt burden and relieve the concerns of lenders are boosting nation's risk to fall into bigger recession, claims Madhur Jha at HSBC Holdings Plc. Spain should be provided with external financing to gain time for its policy makers to introduce reforms in country's pension system, labour market and housing market Tom Keene and Ken Prewitt from HSBC added

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