German DAX index 1.5% up led by car makers

Source: Dukascopy
German DAX index soared rapidly on Monday after Spain over the weekend called European Union to provide help for the nation's struggling banking sector. Euro opened at two week high but retreated during session. German banks and car makers recovered on hopes Spain's turmoil will be resolved at least for short-term period. Deutsche Bank surged 1.5% and Commerzbank advanced 1.1%. Volkswagen rallied 4% and BMW AG soared 2.2%. At the moment of writing DAX 30 trades 1.5% or 93 points higher at 6,223.7.

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Mon, 11 Jun 2012 13:28:36 GMT

Japanese BSI manufacturing index rose less than expected

On Monday, Ministry of Finance reported that Japanese Business Survey Index of manufacturing conditions grew less than it was expected in the first three months of the year. BSI of large manufacturing conditions reached the seasonally adjusted level of −5.7, rising from an annual rate of −7.3 in the previous quarter. Analysts, however, had expected that the index would rise to −2.4.

Mon, 11 Jun 2012 13:50:36 GMT

FTSE 100 index higher on Spanish bailout

UK FTSE 100 index rose sharply in the morning trade adding 1% as investors prized Spanish bailout. Banks rallied with Lloyds Banking adding 2.4% and Barclays surging 1.1%. On the downside Tesco shed 0.9% after retailer reported a 1.5% fall in same-store sales. The index retreated during afternoon trade on news the anti-austerity party in Greece is gaining strength 6

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