DAX slightly down after four-session rally

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Source: Dukascopy Bank

German DAX Index joined its European counterparts in posting 5-month record  close prices on Thursday but slightly retreated on Friday amid Greek struggle to negotiate debt cuts and write offs. Six of nine sectors posted losses on January 20 led by utilities and service stocks. Metro AG lost 1.81%, while Heidelbergcement dropped 1.6%. On the upside index was supported by financials, as Commerzbank AG  surged 6.6% and Deutsche Bank added 0.73%. At the moment of writing DAX Index is 0.07% or 4.34 points down at 6,411.92.

 

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Mon, 23 Jan 2012 06:45:24 GMT

EU lawmakers keep working on new budget rules

EU officials today are meeting in Brussels to continue talks on new budget restrictions, funding for debt troubled countries and Greek debt reductions. Greece and private creditors confirmed they had reached progress in last weekend talks. Euro added 2%, hitting $1.2931 last week despite S&P downgrades on speculation Euro area will survive the crisis. 

Fri, 20 Jan 2012 16:13:21 GMT

FTSE retreats after jumping to 5-month high

After climbing to 5-month record high on Thursday, FTSE 100 Index pulled back 0.3% on Friday, pressed by oil and mining stocks. Investors also perceived negatively the lingering Greece's debt negotiations. BP PLC lost 2.7%, Cairn Energy PLC dropped 0.8% and Tullow Oil PLC slipped 1.2%. Petrofac Ltd. tumbled 4.7% after the firm was downgraded from buy to neutral due

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