S&P 500 index down 1.3% on Spain

Source: Dukascopy Bank SA
S&P 500 index fell sharply on Monday after optimism over Spain's bailout was offset by anxiety whether the country will be able to tackle its debt woe. The leading US index lost 1.26% or 16.73 points settling at 1,308.93. Alpha Natural Resources made the biggest losses for the index giving up 9.2%. Apple shares diminished 1.6%. after renewing its MacBook line. On the upside Progress Energy rallied 2.5% after regulators approved Duke Energy's takeover of the firm, an agreement that will result in the US biggest electric utility. 

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Tue, 12 Jun 2012 10:15:45 GMT

Dow Jones Industrial Average lower ahead of Greek elections

Dow Jones Industrial Average declined on Monday as scepticism over the outcome of upcoming Greek elections returned. Blue chip index  shed 1.14% or 142.97 points and closed at 12,411.23. 26 out of 30 companies finished red, driven mainly by financials and growth linked heavy manufacturers. Hewlett Packard and Bank of America led the fall, giving up 4% and 3.7% respectively.

Tue, 12 Jun 2012 09:53:41 GMT

Rajoy's political credibility trembles with the EUR 100 billion bailout

Having taken the needed bailout for Spain's recovery, Mariano Rajoy's political credibility could be at jeopardy. Two weeks after affirming that Spain does not require a bailout, on 9 June Rajoy asked for a EUR 100 billion in order to revive the country's banking system. As a result, the Prime Minister's actions could potentially raise uncertainty whether he can realize his deficit cutting goals. However,

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