German DAX pushed down by US economic data

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Source: Dukascopy Bank
German DAX index fluctuated between gains and losses on Tuesday. The index surged higher earlier in the session on better than predicted European economic confidence index. However index retreated afterwards on news US durable goods orders fell to a 3-year record low. Pharmaceutical firm Bayer AG  tumbled 2% after reporting disappointing 4th quarter net profit. Losses for the index partly was offset by chip producer Infineon Technologies AG which climbed 1.1%. At the moment of writing DAX index is 0.28% or 18.92 points down at 6,830.63. 

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Wed, 29 Feb 2012 07:09:36 GMT

Orders for US durable goods declined to three-year record low

US durable goods orders fell 4% in January, reaching three-year record low as demand for business equipment and commercial aircraft contracted. Bookings for goods supposed to last minimum three years dropped four times more than economists surveyed by Bloomberg had predicted. In December 2011 orders for durable goods climbed revised 3.2%.

Tue, 28 Feb 2012 17:25:06 GMT

FTSE 100 trades flat on Tuesday session

British FTSE 100 index traded close to flat on Tuesday, supported by mining shares and financials on the upside. India-oriented Essar Energy erased some of losses and climbed 4.3%. Nevertheless, Goldman Sachs downgraded Essar shares citing weak annual earnings and uncertain outlook. On negative side Barclays PLC dropped 0.2% on news lender might be forced to pay a GBP 500

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