US stocks edge up despite S&P announcement

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP

On Monday US shares closed higher as Italian PM proposed austerity measures and investor confidence rose ahead of European summit. Dow Jones Industrial Average gained 0.7% or 78.41 points and closed at 12,097.83. S&P 500 Index added 1% or 12.80 points to 1,257.08. Nasdaq Composite Index surged 1.1% or 28.83 points reaching 2,655.76.

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Tue, 06 Dec 2011 08:00:55 GMT

Aussie and Kiwi decline on interest rate cut and S&P warnings

Australian dollar dropped against all of his main counterparts as the Reserve Bank of Australia lowered benchmark borrowing costs by 25 b.p. for a second consecutive month. Australian dollar lost 0.9% against US dollar reaching $1.0181 in Sydney trade. New Zealand's currency also depreciated after Standard & Poor's placed 15 euro-area countries on watch negative. Kiwi gave up 0.5% against US dollar to $0.7761.

Tue, 06 Dec 2011 07:25:52 GMT

Sarkozy and Merkel to look for new treaty

On Monday German Chancellor and Merkel and French President Sarkozy announced they are aiming at revamping current treaties to strengthen the euro region's fiscal restraints and bring back confidence in Euro. Changes include developing tighter fiscal alliance along with stricter budget rules which would automatically penalize countries which violate deficit and debt limits. 

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