DAX index erases some of its gains as ECB and German government express concerns over Greece

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Source: Dukascopy Bank
German DAX 30 index retreated and climbed 0.7% on Wednesday, lifted mainly by financials. Deutsche Bank AG  added 1.7%, while Commerzbank AG  jumped 8% after its Polish division reported a 46% increase in 4th quarter profit. Car maker Daimler AG advanced 1% ahead of its earnings report due tomorrow. DAX 30 erased some of its gains after ECB said it postpone the supporting of Greece and German government announced it considers a parliamentary vote on Greek bailout package due next week. Euro depreciated on the news. At the moment of writing German DAX is 0.48% or 33.13 points up at 6,787.61.

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Thu, 09 Feb 2012 07:37:15 GMT

Chinese inflation unexpectedly surged in January

China's consumer prices unexpectedly rose in January, fuelled by spending during week long Lunar New Year holidays. Accelerating inflation limited room for possible monetary easing as European turmoil hampered exports amid cooling property market. Inflation added 4.5% in January, estimated on annual basis. Analysts predicted consumer prices to escalate by 4%. 

Wed, 08 Feb 2012 14:40:15 GMT

FTSE declines on ECB decision to hold off helping Greece

UK FTSE 100 Index opened higher on Wednesday, supported by mining and energy stocks as developments Greece spurred hopes the country might avoid default. Rio Tinto PLC surged 1.4%, Fresnillo PLC added 0.2% and Kazakhmys PLC gained 2%. On the downside BHP Billiton PLC lost 1.2% after reporting a drop in its profit. During the session FTSE 100 climbed 0.1%

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