European stocks increase

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Source: Marketwatch
© Scanpix/AFP

European stocks increased on the optimism across the euro-zone as Italy adopted austerity measures and investors are inspired by the meeting of leaders of Germany and France. The Stoxx Europe 600 added 0.7% to 242.47 in the early trade. Financial shares also gained; KBC Group NV added 9.3% in Brussels, Lloyds Banking Group PLC increased by 6.3%, Banco Espirito Santo SA rallied 4.9%.

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Mon, 05 Dec 2011 17:00:28 GMT

Gold futures remain stable

Gold futures remain steady, fluctuating between slight gains and losses with investors eying the situation in the euro-zone. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were traded at USD 1,749.65 a troy ounce at the morning European trade, edging down 0.09% since opening.

Mon, 05 Dec 2011 16:59:25 GMT

Oil prices may rise if Iranian exports are blocked

After the report of IAEA on possible development of nuclear weapons by Iran, Western economies warned Iran on blocking its oil exports. The country responded that in case the exports are ceased the average price for oil will jump above $250/bbl thus slowing down the global recovery after crisis, said Ramin Mehmanparast, spokesman of Iran's Foreign Ministry.

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