European markets edge lower on U.S. budget concern

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AP
The Stoxx Europe 600 Index dropped 0.5% to 266.71 points in early London trading session on Thursday, deepening a two-month low. Markets trade with negative sentiments, as U.S. President Barack Obama said that tax for high earners will be increased by the next year. In order to avoid the fiscal cliff, the U.S. plans to impose the $607 billion tax increase on wealthy and reduce government spending.
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Thu, 15 Nov 2012 13:37:42 GMT

Italian economy contracts by 0.2%

Italian domestic product was lower by 0.2% comparing with the second quarter, when it shrunk by 0.7%, as the National Statistics Institute Istat announced on Thursday. The economy contracted less than economists estimation, which median was 0.5% according to a Bloomberg survey. However, that was the fifth quarter as economy shrunk and Italy entered the second year of recession.

Thu, 15 Nov 2012 16:02:12 GMT

Silver rose on weak US data

Precious metals advanced on Wednesday, following dismal economic data releases from the US. US retail sales and PPI dropped more than expected last month, adding to fears that the country's economy may into recession, especially after tax hikes. At the same time, mounting hopes that the Fed may introduce a new bond-buying program in 2013 buoyed the commodity group.Gold traded

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