DAX index faces a choppy session on Monday

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Source: Dukascopy Bank
German DAX index bucked the downward trend of other European stock indices and climbed on Monday as Greece finalized its debt swap agreement. Volkswagen AG lost 1% on news its operating profit for 2012 is likely to be flat while revenue will be erased by costs of new technology. Electric utilities company E.ON AG declined 0.8% as Deutsche Bank lowered its price target. On the upside index was supported by Daimler AG and BMW AG which each added 1.1% and 0.8% respectively. At the moment of writing DAX index trades 0.07% or 5.6 points up at 6,885.24.

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Tue, 13 Mar 2012 07:10:17 GMT

Australian home loan approvals fell in January

The number of Australia's home loan approvals declined in January, first time since March 2011 while the business confidence index fell to a 5-month record low indicating the labour market recovery may slow down. Australian home loan permissions dropped 1.2% in January or twice as much as was predicted by economists. The business confidence lost ground and attained the lowest reading

Mon, 12 Mar 2012 16:18:26 GMT

FTSE 100 down 0.2% on China trade report

British FTSE 100 index traded slightly lower on Monday as news about Chinese record high trade gap weighed on miners and oil shares. Vedanta Resources fell 3%, Randgold Resources lost 0.4% while Rio Tinto PLC tumbled 1%. Essar Energy dropped 1.2% and Cairn Energy gave up 0.5%. Man Group fell 1.6% after HSBC downgraded the stock from overweight to neutral.

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