Old Mutual sells Nordic to Skandia

Note: This section contains information in English only.
Source: BBC

Old Mutual, UK's long-term savings group plans to sell Nordic operations to Skandia Liv, Swedish insurance company for $3.2bn. Largest part of the funds generated from sale the company will use to decrease debts and the rest amount will be distributed among the stockholders. Following the news, the shares of Old Mutual surged by 11%.

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Thu, 15 Dec 2011 14:56:11 GMT

Copper grows after three-week low

Copper futures cover the previous losses following the Spain's auction. Spain sold EUR6 billion of bonds exceeding the target of EUR3.5 billion. On the Comex division of the New York Mercantile Exchange, copper futures for delivery in March traded at USD3.292 a pound at the early European trade, adding 0.42% since opening.

Thu, 15 Dec 2011 15:01:54 GMT

German PMI experienced moderate gains

German PMI increased slightly in December. The Markit Flash Germany Manufacturing PMI edged up to 48.1 in December as compared to 47.9 in previous month. The Markit's Germany Composite Output Index, gauge of private sector activity also advanced to 51.3 from 49.4 in November. The increase is inspiring but it cannot rescue the economy severally impacted in Q4, said Tim Moore, senior economist at Markit.

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