DAX 30 index surges on better unemployment data

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Source: Dukascopy Bank
German DAX 30 index recovered after previous choppy session and jumped 0.9% on Tuesday, supported by financials and carmakers. The index got the upward momentum, after German national statistics office reported 20-year record low unemployment level for January. Commerzbank surged 3% and Deutsche Bank added 0.6%. Meanwhile, BMW AG gained 2.81% and MAN SE advanced 2.84%. On the downside Deutsche Telekom edged down 0.8%. At the moment of writing German DAX is 1.01% or 65.33 points up at 6,509.78.

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Tue, 31 Jan 2012 16:22:22 GMT

Precious metals dropped on Monday amid stronger US Dollar

Precious metals tumbled on Monday amid firmer US Dollar and very slow progress over the Greece's debt swap. Weaker equities also created downward pressure on the precious metals' price. Despite slight loss, the yellow metal is likely to jump amid expected monetary easing in the US. Silver holdings at the largest silver backed exchange-traded funds decline while investors claim the

Tue, 31 Jan 2012 16:21:27 GMT

US house price slips more than expected

US housing prices declined more than predicted in November, signalling slower recovery in nation's property market. S&P/Case-Shiller index fell 3.7% in November compared to previous year. Economists questioned by Bloomberg previously predicted a drop around 3.3%. Analysts suggest that relatively high number of foreclosures may keep further pressure on property prices. 

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