S&P 500 declined after rate cuts

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Source: Dukascopy Bank SA
S&P 500 index breached its three day gains on Thursday as investors considered that recent ECB interest rate cut would have a minor impact on Eurozone's economy. Moreover, traders awaited US jobs report due on Friday. US benchmark slipped 0.5% or 6.44 points to 1,367.58. Netflix Inc rallied 13% after the analyst reported firm's online audience outperforms cable and TV networks. Ross Stores added 7%, after the discounter announced its sales in shops opened less than one year ago accelerated 7% in June. Retailer TJX soared 3.7% on better than expected earnings last month.
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Fri, 06 Jul 2012 16:18:45 GMT

FTSE 100 slides on negative PPI data

FTSE 100 Index dropped by 0.1% on Friday to trade at 5690.50 at the time of writing. Negative producer prices data weighted down on the UK stock markets. At the same time, recent ECB's cut of the benchmark interest rate failed to provide support for the equities. Aviva was the top-performer, soaring by 2.95%, on news that the insurance firm

Fri, 06 Jul 2012 20:42:43 GMT

Swiss National Bank continuously expands foreign currency reserves

By the end of June 2012 the amount of foreign currency reserves at the SNB was equal to CHF 364.9 billions. Since May 2012, when the reserves were equal to CHF 305.9 billions, the amount had increased by CHF 59 billions. Swiss government intends to keep the Franc below rate of CHF 1.20 per EUR. Currently reserves are equal to 66% of GDP, whereas

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