European shares surge amid expectations for solution on fiscal cliff

Note: This section contains information in English only.
Source: Bloomberg
© scanpix/AFP
European shares gained after Barack Obama said we would talk to Republican lawmakers about possible ways to resolve the so-called fiscal cliff. Today trading might be flat, as investors wait for the solution on fiscal cliff. The Stoxx 600 advanced 0.1% to 265.9, yet the index has lost 3.2% since the U.S. president's reelection. The index was mostly boosted up by gains in technology and auto-industry shares.

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Fri, 16 Nov 2012 13:13:14 GMT

Rand Appreciated after Failing to Break through Resistance Level

The Rand appreciated for the first time this week as its biggest weekly decline in November didn't manage to break through the resistance level of 9 rand per dollar. South Africa's currency gained 0.3% against the Dollar on Friday and traded at 8.9043 per dollar in Johannesburg. The currency declined 2.2% this week, the biggest loss in six weeks.

Fri, 16 Nov 2012 18:02:05 GMT

Treasuries higher before output data

On Friday, treasuries were traded higher and headed towards the fourth weekly gain, as an upcoming report is widely expected to show a decrease in U.S. industrial output, amid increased demand for safer assets on fiscal cliff. The yield on benchmark 10-year government bonds declined by 1 basis points, reaching a level of 1.59% by 8:52 a.m. in London.

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