German business confidence declines in July

Note: This section contains information in English only.
Source: The Wall Street Journal
German business confidence declined more than expected in July, falling to the lowest level since March 2010. The Ifo business climate index dropped from 105.2 in June to 103.3, representing a third consecutive decline, while economists expected a decline to 104.5. The main reason for such a sharp decline in confidence is deteriorating sovereign debt crisis, which damps economic growth outlook as well as company earnings.   
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Wed, 25 Jul 2012 15:03:34 GMT

US stocks prolonged slump on Tuesday

S&P 500 Index prolonged its slump on Tuesday, ending the day 0.9% lower. Disappointing corporate earnings reports coupled with grim news from the Eurozone pressurized US equities. All industries within the index have faced losses for the second consecutive day. Shares of DeVry posted the largest drop of 27% on news that Q4 results are likely to be much worse

Wed, 25 Jul 2012 14:41:38 GMT

Gold Second Day Rise

On Wednesday,  spot gold rose 0.2% to $1,583.69 per ounce, expanding gains to a second session. The latest reports showed that U.S. and Eurozone were still in a downturn in July, which had advanced interest for gold. Gold is seen as "inflation hedge", excessive cash printing by central banks directly benefits its sales.

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