U.K. equities slump as World Bank forecasts Eurozone economy to contract

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Source: Dukascopy Bank SA
U.K. stocks posted their biggest losses this year after the World Bank forecast that the Eurozone economy will shrink this year, pairing with Jean-Claude Juncker's statement that the strength of Euro currency threatens the growth of euro area. It was also forecast that the global economy will slowdown its pace of growth in 2013. The FTSE 100 index dropped 0.14%, or 9.22 points, to 6,108.10 by 15:45 GMT. Five out of ten groups declined with the shares of basic materials and telecommunications tumbling the most by 1.32% and 1.31%, respectively. Anglo American erased 2.5% after African National Congress stated the government of South Africa would need to withdraw its platinum licenses. Furthermore, Tesco Plc slipped 1.3% as recent tests recognized horse's DNA in its beef burgers. Vodafone Group slid 1.9% after Deutsche Bank's announcement the company most likely will not buy back more shares. Meanwhile, TUI Travel shares jumped 7.3%, capping loses in consumer services sector that lost 0.06%.
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Wed, 16 Jan 2013 16:57:50 GMT

German stocks fluctuate between gains and losses on Wednesday

German shares fluctuated between gains and losses and advanced by 15:54 GMT even though the nation's government forecast the Europe's largest economy to contract in 2013 and Jean-Claude Juncker, the Prime Minister of Luxembourg, said the strength of common currency might injure the Eurozone's economy. The German DAX index slightly increased by 0.18% to 7,688.77, rebounding from earlier losses.

Wed, 16 Jan 2013 15:54:08 GMT

U.S. business inventories climb 0.3% in November

Business inventories and business sales increased in November, but the total business inventories/sales ratio stayed unchanged at 1.28, the Commerce Department reported on Tuesday. The report revealed that business sales rose notably, when it felt 0.3% in October, but recorded a 1.0% gain in November, while business inventories jumped in line with forecast 0.3% in the same month.

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