European stocks decline as US reports lower growth

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP
European stocks prolonged losses after US statistics department reported less-than-expected GDP growth for third quarter. Stoxx Europe 600 Index gave up 0.3% reaching 224.15 at midday trading session in London. US economic growth in 3rd quarter reached 2% or 0.4 percentage points less than expected. Slowdown in GDP growth was mainly caused by cuts in company inventories and overall reduction in investment.

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Tue, 22 Nov 2011 15:21:33 GMT

Egyptian stock market closed after decrease by 5%

Stock exchange in Egypt was suspended after main share index EGX 100 index decreased by 5%. The decline has followed a sharp share decrease on Monday by 4%. The reason is mass demonstrations on the streets of Cairo lasting for three days already. The exchange was opened again after one hour and the day close was 5.5% lower. The Egyptian index is 47% lower since the beginning

Tue, 22 Nov 2011 15:12:16 GMT

Lower growth forecast decreases Dollar value

Treasury prices slightly increased while the dollar suffered losses after the US government announced the decrease in its projected GDP growth from 2.5% to 2% in Q3. The dollar index was traded at 78.23 down from 78.20. The euro gained on the dollar index decrease and was $1.3523 from $1.3527. Yields on 10-year notes declined by one basis point to 1.96%.

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