German data hits Euro and stocks

Source: Reuters
Germany's manufacturing sector shrank the most in July in the last three years. Markit PMI contracted by 1.7, reached 43.3 (gauge of 50 separates contraction from expansion of economy) and indicates that Germany's economy might shrink in the third quarter this year. EUR fell to 1.2104 USD slightly above a two year low of USD 1.2067. FTSEurofirst 300 index, which contains top European shares, lost 0.2% and canceled all the previous gains after loosing 2.4% in the trading session before.
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Tue, 24 Jul 2012 10:33:32 GMT

Oil Gets Back on the Track

On Tuesday, oil futures rose 0.7%, after 4% decline yesterday. HSBC Holdings Plc has reported  preliminary  purchasing managers' index of 49.5, which would be the top level since February. Oil for September transfer was as $88.76 per barrel in e-trading on the New York Mercantile Exchange. Prices have dropped 10% this year.

Tue, 24 Jul 2012 09:58:32 GMT

Canada seems to be shifting to a new oil and gas partner

Cnooc Ltd. has placed all cash takeover bid of a bit more than USD 15b for Nexen Inc. This indicates that Canada is switching from the US towards China as countries oil and gas partner. Canada's crude deposits, which are the third largest in the world, were partly developed by the fund from the US. China, being worlds most energy

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