Crude oil steady ahead of OPEC meeting

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Source: Forexpros

Crude oil futures remained steady just slightly above the two-week low as investors anticipated Fed rate decision and OPEC meeting due on Wednesday. On the New York Mercantile Exchange crude futures for January delivery traded at USD97.91 a barrel at the early European trade, gaining 0.14% since opening.

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Tue, 13 Dec 2011 13:07:23 GMT

E.On borrows 3bn euros

E.On, Germany's energy company, has taken about 3bn euros citing the impact of the troubled EU economies, especially the impact of Spain and Italy that cut forecasts for energy demand and price. Following the announcement, E.On share price declined by 2.2% in the morning trade in Frankfurt. However, the company claimed that expected profits for 2013 are in line with previous forecast.

Tue, 13 Dec 2011 17:38:16 GMT

Spain sells bonds worth €4.94 billion

On Tuesday Spanish central bank sold €4.94 bn ($6.51 bn) of 12 and 18-month notes, more than the Treasury had intended to attract. Central bank sold €3.44 bn 12 month notes at an average yield of 4.05%, compared to 5.02% in November. 18-month bonds created average borrowing cost at 4.2%, or 1 percentage point less than in November.

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