DAX 30 rallies on investor confidence data

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Source: Dukascopy Bank
German DAX index rallied on Tuesday after data showed investor confidence jumped in March from 5.4 to 22.3, reaching a record high since June 2010. Deutsche Post AG accelerated 1.8% on news the company expects good earnings next year. Financial service provider Munich Re AG gained 2.2%. The firm said its outlook for 2012 is optimistic and the yearly profit my reach EUR 2.5 billion (USD 3.3 billion). At the moment of writing DAX 30 is 0.87% or 60.29 points up at 6,962.20.

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Tue, 13 Mar 2012 18:19:33 GMT

EU suspends rescue package for Hungary because of budget deficit

The EU has decided to freeze the rescue fund worth about 495 million Euros that had to be provided to Hungary in 2013. The EU explained that Hungary's debt exceeded 3% of GDP, the maximum stipulated by the Excessive Deficit Procedure rules. Hungary expects the EU to reassess the move in June, said Margrethe Vestager, Danish economy minister. At the

Tue, 13 Mar 2012 17:12:45 GMT

FTSE 100 index higher as government aims to support construction

British FTSE 100 index advanced on Tuesday lifted by financial sector which added 1.7% after UK PM Cameron said the government will boost construction through supporting buyers with small cash deposits to purchase new homes. HSBC Holdings jumped 2%, Royal Bank of Scotland Group advanced 1.8% and Lloyds Banking Group climbed 1.9%. On the downside Antofagasta fell 4% and insurer

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