Stocks retreat on earnings; commodities drop as well

Source: Bloomberg
© Scanpix/Reuters
Stock prices dropped in Asia and Europe as investors weighted worse-than-expected earnings data from Orange SA, Michelin & Cie and BASF SE. The MSCI world's equity index slid 0.6% to 373.56, while the Standard & Poor's 500 futures decreased 0.6% as well. The Stoxx Europe 600 Index slipped 1%. Crude oil prices and copper lost 0.9% and 1.5% respectively.
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Thu, 25 Jul 2013 12:47:04 GMT

Copper drops on excessive supply concern

Copper declined for the first time in five sessions, the longest gain since December, amid concern that supply of the copper might exceed demand. Goldman Sachs Group announced that global surplus of the metal might double in two years. Copper for settlement in three month lost 1.4% to $6,953 per ton at 11:06 a.m. on the London Metal Exchange.

Thu, 25 Jul 2013 12:23:07 GMT

RBI is expected to keep rates unchanged

The India's central bank is expected to refrain from lowering the interest rates as it puts emphasis on weakening currency. The Rupee fell to the lowest point in history against the U.S. Dollar as it touched 61.21 on July 8. The Reserve Bank of India initiated measures to fight depreciation, which resulted in 1% gains, however, the currency is still

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