S&P 500 index closes 1.2% higher

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Source: Dukascopy Bank SA
S&P 500 index showed a surprising rally on Tuesday. The news from Europe were so pessimistic that most analysts predicted US markets to tumble. Contrary to forecast S&P 500 surged 1.17% or 15.25 points and finished at 1,324.18. Shares of First Solar accelerated sharply, after the solar power provider said it signed agreement to construct two utility-scale projects for AGL Energy in Australia. Energy shares also recovered with Cabot Oil adding 4.9% and Valero Energy gaining 2%. 

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Wed, 13 Jun 2012 11:05:41 GMT

China's growth may slid below 7% in Q2

China's economic expansion may fall below 7% in Q2 in case economic weakness persists in June, said Zheng Xinli, government's adviser.  If the situational starts to improve, the GDP growth is likely to attain the lowest expansion pace in Q2, reported Jia Kang, head of the Finance Ministry. Meanwhile, according to Reuter's survey, China's economy is expected to grow by

Wed, 13 Jun 2012 17:39:42 GMT

South Korea's unemployment drops to 3.2%

South Korea's jobless rate reached its bottom in four months due to the continued recruitment boost in the service segment. According to Statistics Korea, the country's unemployment in May fell to 3.2% in contrast to the previous month's 3.4%. However, Ronald Man, HSBC Holding PLC's analyst, stated that as Korean manufactures are becoming more restrained, this could negatively impact the production output, and, consequently, weaken

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