UK home prices eased down by 0.2% last month

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Source: Forexfactory
Average house prices in the UK declined by 0.2% last month, after falling by 0.1% in March. The property prices in the country have declined for the fourth consecutive month in April, signaling that recent stamp duty holiday appeared to create a short-lived stimulus for the real estate sector. The property prices are likely to continue falling taken fiscal problems in the EU. However, NewBuy scheme implemented by the government may bolster the demand slightly in short-term.

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Thu, 03 May 2012 07:29:51 GMT

Rio Tinto: Long-term commodity outlook remains positive

Rio Tinto PLC expects the demand for its minerals and metals to remain strong in long-run while the demand for cooper is likely to surpass the world's supply in the next few years. However, coal production became more challenging in Australia as capital costs surged and investors demand more return on capital, Ton Abanese, the CEO of Rio Tinto said.

Thu, 03 May 2012 07:07:52 GMT

Dow Jones Industrial Average gives up 0.1% amid employment concerns

Dow Jones Industrial Average index slipped on Wednesday pushed by disappointing hiring data amid all time high unemployment rate in Euro Zone. Blue chip index shed 0.08% or 10.75 points and finished at 13,268.57. Financial stocks followed their European peers and contributed most to the decline for the Dow. Bank of America fell 1.8% and JP Morgan Chase dropped 1.4%.

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