Pound falls as Osborne says spending cuts are needed

Note: This section contains information in English only.
Source: Bloomberg
The British Sterling weakened on Monday trading session falling for the third straight day against the U.S. Dollar after the Bank of England Chancellor George Osborne claimed that spending cuts are necessary to tax reductions. The Pound slipped 0.4% to $1.6352 as of 7:58 a.m. in London following an increase to $1.6603 on January 2, the most since August 2011.

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Mon, 06 Jan 2014 11:08:03 GMT

German shares fall before service data

German equities declined on Monday after recording a weekly drop last week before a report showed that service sectors in the 18-nation bloc and the U.S. increased in the last month of 2013. The local benchmark index DAX shed 0.3% to 9,409.19 as of 9:55 a.m. Frankfurt time following a drop totaling 1.6% last week.

Mon, 06 Jan 2014 10:46:02 GMT

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Service sector activity in Ireland advanced in the last month of 2013 mainly due to a notable increase in new business suggesting that local economic conditions have improved, a report released by the Markit Economics unveiled on Monday. According to the report, the country's Business Activity Index rose from November's 57.1 to 61.8 points in December.

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