Unicredit will inject new capital in Italy's lending

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Source: Marketwatch

UniCredit SpA, Italy-based banking organisation will use its EUR7.5 billion increase in capital, which is expected to be approved today, to provide funds for lending to country's businesses and private persons as well as to boost operations in East Europe, said Federico Ghizzoni, the bank's CEO. The funds will not be immediately transferred to East European countries as they are quite strongly financially positioned, he added.

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Thu, 15 Dec 2011 14:44:39 GMT

Gold continues to fall on the Euro Zone concerns

Gold continues to extend losses after falling below a key support level on the concerns over the Euro Zone that forced investors to sell the yellow metal holdings to boost cash. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in February traded at USD1,578.25 a troy ounce at the early European trade, edging down 0.55% since opening.

Thu, 15 Dec 2011 15:01:54 GMT

German PMI experienced moderate gains

German PMI increased slightly in December. The Markit Flash Germany Manufacturing PMI edged up to 48.1 in December as compared to 47.9 in previous month. The Markit's Germany Composite Output Index, gauge of private sector activity also advanced to 51.3 from 49.4 in November. The increase is inspiring but it cannot rescue the economy severally impacted in Q4, said Tim Moore, senior economist at Markit.

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