FTSE 100 index keeps declining led by miners and financials

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Source: Dukascopy Bank
British FTSE 100 index kept following a downward path on Tuesday as China's reduced growth forecast kept weighing on financial and resource shares. Aviva PLC fell 3.7% after Exane BNP Paribas lowered stock's rating from neutral to underperform, citing weaker outlook for cash flows and earnings. BP PLC  dropped 1.6% and Kazakhmys PLC gave up 1.8%. Polymetal International PLC plunged 7% after UBS downgraded company's shares from buy to neutral. Fresnillo PLC climbed 1.6% on earnings report. At the moment of writing FTSE 100 trades 1.06% or 62.33 points lower at 5,812.49. 

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Tue, 06 Mar 2012 19:13:55 GMT

Spain and Italy faced an increase in cost of borrowing

Spain and Italy faced an increase in bond yields after news that Greek default is expected to force these countries to look for further financial aid. 10-year yields on Spanish debt jumped from 4.95% to 5.05% on Monday while Italy's 10-year debt yields added 10 basis points approaching 4.97%. Meanwhile, yields on the two-year Span's debt eased up to 2.31%

Tue, 06 Mar 2012 19:13:38 GMT

Australian sugar production to expand by 18% over 2012

Australian sugar output is likely to increase by 33 million tons attaining 4.63 million tons in 2012, indicating 18% gain on an annual basis, reported Rabo bank. Promising export opportunities for Australian cane sugar stimulated the government to provide incentives for farmers to expand sugar growing area. The area for planting sugar cane is projected to expand by 10% this

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