S&P 500 index edges higher on US consumer confidence

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Source: Dukascopy Bank
S&P 500 index ended Tuesday session on the positive side as the drop in crude prices and better than predicted US consumer confidence supported investor optimism. The index added 0.34% or 4.59 points and finished at 1,372.18. Priceline.com Inc. jumped 7% on profit report that beat estimates. Micron Technology added 3.7% after acquiring Intel Corp stake. Apollo Group tumbled 16% after cutting its operating profit forecast for 2012. Apple Inc climbed 1.8% on news it will release its new iPad in March.

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Wed, 29 Feb 2012 12:32:22 GMT

Euro Zone banks borrowed a record amount of 3-year loans from ECB

Euro Area lenders tapped the ECB for a record high amount of three-year debt supposed to stimulate stock and bond markets. ECB announced it will provide 800 lenders with EUR 529.5 billion (USD 712.2 billion) loan for 3 years. Economists expected an allotment of EUR 470 billion. A high number of small banks applied for the cheap cash, therefore it

Wed, 29 Feb 2012 15:34:59 GMT

EUR/JPY advanced before the ECB refinancing operation

The Euro appreciated against the Yen ahead of the ECB's LTRO that will inject liquidity into the Euro Zone's economy by offering 500 billion Euros of cheap loans. Moreover, the Yen was pressured by the easing measures implemented by Bank of Japan. The pair EUR/JPY approached 108.45 during the Asian session, moving up by 0.15%.

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