U.S. new home sales tumbled in June

Source: CNBC
As reported by the Commerce Department, the number of sold new single-family homes in the U.S. declined dramatically in June. Sales dropped to the five-month low, with 8.4 per cent decline to 350,000-unit annual rate. The decline was provoked by a 60 per cent fall in the Northeast and an 8.6 per cent drop in the South, while sales in the West and Midwest jumped 2.1 per cent and 14.6 per cent respectively. Meanwhile, the inventory of new homes jumped 0.7 per cent to 144,000 in the same month.
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Thu, 26 Jul 2012 06:33:37 GMT

U.S. new-home sales drop

U.S. new-home sales declined in June following a jump to two-year high in May, indicating uneven housing recovery. Purchases drop 8.4% from the prior month to a 350,000 annual rate, the Commerce Department reported. Slow progress in labour market as well as lack of inventory is depressing purchases even though mortgage rates and prices remain attractive.    

Wed, 25 Jul 2012 16:42:35 GMT

German shares edged up on Eurozone's hopes

German equities edged up 0.49% to trade at 6,417.50 at the time of writing. Shares gained momentum on hopes for fresh measures by the ECB. At the same time, a drop in Ifo Business Climate Index capped the upswing. Daimler added 3.6% after the company left unchanged its full-year profit forecast. Financial sector was the weakest, plunging 0.95%. Deutsche Bank

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