FTSE 100 gains on hopes for BoE stimulus

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Source: Dukascopy Bank SA
UK FTSE 100 climbed on Tuesday lifted by investor hopes for additional stimulus from Bank of England. Financial stocks prized the news with HSBC Holdings adding 1.7% and Royal Bank of Scotland Group soaring 1.6%. Whitbread surged 6.3% as the UK hotel and restaurant company said its first-quarter same-store sales improved 4.5% while total sales accelerated 14%. Engineering-solutions provider Weir Group rallied 4.8% after it raised its earnings outlook for the next 10 to 15 years. At the moment of writing FTSE 100 is trading 1% or 55 points up at 5,546. 

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Tue, 19 Jun 2012 14:11:11 GMT

German DAX up after Spanish bond auction

Despite a sharp drop in Zew sentiment index German DAX index managed to trade higher on Tuesday. The nation's benchmark index soared after Spain managed to sell the planned amount of bonds, though at significantly higher yields than in previous month. Moreover emerging market economies pledged to boost IMF firepower during G-20 meeting. Engineering company MAN SE led the gains

Tue, 19 Jun 2012 11:51:00 GMT

Spanish borrowing costs soar

Spain witnessed an increase in borrowing cost as it was selling its debt on Tuesday. Spain's Treasury sold 12-month bonds worth EUR2.4 billion at the average yield of 5.074%, which was a sharp increase from May's 2.985%. 18-month bonds, worth EUR64 million, were sold at the average yield of 5.107%, which is more than May's 3.302%.

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