German stocks rally after positive GDP data

Note: This section contains information in English only.
Source: Dukascopy Bank SA

German stocks jumped on Monday on inspiring German GDP data. German GDP expanded by 0.3% in Q2 compared to a 0.2% growth widely expected. However, an unexpected decline in German investor sentiment index capped the upswing. The German DAX Index gained 0.81% to trade at 6,965.53 at GMT 12:00. Eight out of nine industries included in the index posted gains. The largest gainers were telecommunications and health care companies. Deutsche Telecom and Fresenius Medical Care AG surged by 1.59% and 0.53%. Financials were mixed as Deutsche Bank lost 0.02% while Commerzbank gained 0.17%. Utility companies were the weakest, with E.ON inching up 0.23% and RWE falling by 0.59%.

 

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Tue, 14 Aug 2012 18:38:30 GMT

Greenback strengthened against its major peers on Tuesday

The U.S. dollar advanced against its major peers, as world's biggest economy's fundamentals improved, reducing possibility that the Fed may soon announce another quantitative easing.  The greenback strengthened versus the Euro by 0.09% to $1.2323.  At the same time, the ICE Dollar Index rose by 0.14% to 82.55.

Tue, 14 Aug 2012 17:54:30 GMT

Single currency advanced after four days of losses

The shared currency advanced after four days of losses, as investors made bullish bets for ECB's bold actions to lower Italian and Spanish borrowing costs. The Euro jumped 0.4% to $1.2340, with a session high $1.2359 and was higher versus the Japanese yen, adding 0.5 per cent to 96.64 per yen. On the contrary, the ICE dollar Index erased 0.22% to 82.38.

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