US stocks climb after Juergen Stark’s announcement

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Source: Bloomberg
© Scanpix/AFP

US equities experienced increase after Juergen Stark, the ECB's executive board member claimed the Eurozone debt turmoil will be restrained and controlled in two years. S&P 500 gained 0.6% reaching 1,261.12 in New York evening trading session while Dow added 0.7& climbing to 12,068.39 today. According to Stark, in two years Eurozone won't need political intervention.

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Tue, 08 Nov 2011 09:30:03 GMT

UK retail sales drop in October

UK retail business faced a decline in October rising traders concerns about approaching Christmas sales. According to British Retail Consortium (BRC), trading at shops opened in last 12 months has decreased by 0.6 % compared to previous year. Significant drop in sales was detected also in furniture and food industries. Stephen Robertson, BRC general director claimed a fall in sales to indicate weak consumer confidence.

Tue, 08 Nov 2011 08:09:59 GMT

US consumer borrowing surge in September

Consumer borrowing increased substantially in September reaching $7.4 bn which was 2.2bn more than Bloomberg survey had forecast. The increase was mainly stimulated by surging non-revolving loans containing funding for car purchases and study credits. While loans ascended for big scale commodities, the debt including credit cards and other non-revolving loan declined, suggesting Americans cut other liabilities.

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