German DAX index lower on Spanish downgrade

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Source: Dukascopy Bank SA
German DAX index retreated from previous gains on Friday after data showed country's exports declined by 1.7% compared to March. Moreover Fitch Ratings cut the sovereign grade for Spain. Export oriented companies posted loss. Volkswagen AG fell 1.8% and BMW AG declined 1.7%. Industrial component producer ThyssenKrupp dropped most in the index, giving up 3.4%. On the upside E.ON that operates in power generation and gas production sector, added 1.4%. At the moment of writing DAX index trades 0.57% or 35 points down at 5,109.2.

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Fri, 08 Jun 2012 17:50:32 GMT

Euro stock on decline, DAX off 0.22%

On Friday, stock markets in Europe closed lower on poor German export, Spanish sovereign downgrade. Fitch rating agency significantly decreased Spanish credit rating, German exports slipped 1.7%, compared to an expected 0.7% decline. European trade closed with EURO STOXX 50 0.03% increase, France's CAC 40 declined by 0.66%, and German DAX 30 fell by 0.22%.

Fri, 08 Jun 2012 20:24:29 GMT

U.S. trade balance decreased more than expected

On Friday, the Bureau of Economic Analysis reported that the United States' trade balance declined from −52.6 billion last month to −50.1 billion, which is more than expected since analysts had predicted it to be −49.5 billion. The figure for the preceding month was revised from −51.8 billion.

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