Higher risk of Greek withdrawal from the Euro hits the markets

Note: This section contains information in English only.
Source: The Wall Street Journal
The increasing concerns over Greece's withdrawal from the Eurozone hit the markets. The European stocks tumbled sharply, the Euro depreciated against the US Dollar to its lowest level in four months, whereas Spain's and Italy's borrowing costs skyrocketed. Apparently, the ECB's injection of €1 trillion into the banking system does not provide the desired result.
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Tue, 15 May 2012 04:54:22 GMT

The Eurozone's economy contracts

The Eurostat data revealed that the Eurozone industrial production declined more-than-expected in March, meaning that Europe's economy contracted last quarter and entered a recession. Industrial output dropped 0.3% in March and by 2.2 % on the year. The EU's statistical office will publish the data of Q1 GDP on Tuesday. Economists are expecting a 0.2% quarterly drop. 

Mon, 14 May 2012 19:40:23 GMT

Gold futures reach the lowest level this year

Gold for June delivery reached the lowest level this year in Commodity exchange division of New York Mercantile Exchange. By 2:45 p.m., New York time, June delivery futures lost USD 22.4 (1.4%) from the opening value and were at USD 1562 an ounce. At its lowest, at 10 a.m., contracts were worth USD 1555 an ounce.

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