India's quarterly GDP expands less than predicted

Source: Bloomberg
Due to European debt woe, India's economic growth for the first three months this year expanded at slower pace than was predicted by analysts. India's GDP for the first quarter added 5.3% compared to an expected gain between 6.5% and 6.7%. Rupee weakened after the release of the data. 
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Thu, 31 May 2012 08:25:07 GMT

Crude heads for the largest monthly fall in 3 years

Crude oil kept following a bearish trend on Wednesday and moved towards the largest monthly fall in 3 years on worries the deepening European debt turmoil and slowing growth in US will curb demand for fuel. Oil futures today are 20% down from the highest value this year, implying a bearish path. July oil lost USD 0.17 to USD 87.65

Thu, 31 May 2012 11:31:46 GMT

European shares tumble on Spain credit rating cut

Europe's equities fell on Wednesday reflecting drop in investor sentiment after Spain's downgrade in Tuesday evening. Stoxx Europe 600 declined 1.5%, Spanish IBEX 35 plunged 2.6% and Italian FTSE MIB dropped 1.8%. Athens General index lost 3.2% and British FTSE 100 shed 1.7%. German DAX index edged 1.8% lower. 

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