Moody's downgrades 16 Spain's banks

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Source: BBC
Moody's reduced credit rating of 16 Span's banks, citing a rise in bad debts in the country's financial sector and overall deterioration of the economic environment. The decision came after shares of Bankia lost another 14%. The largest banks such as Banco Santander and BBVA were downgraded while ten out of 17 banks were put on negative watch, implying that further credit rating cuts are possible.
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Fri, 18 May 2012 07:24:31 GMT

US natural gas inventories hit 2,667 billion cubic feet

US natural gas stockpiles surged to 2,667 billion cubic feet last week, reported the EIA. US inventories were by 774 billion cubic feet higher than in 2011 and 773 billion cubic feet above five-year average. Following the data release, natural gas futures for June delivery lost 3.5% to trade at 2.526 US Dollars per million Btu.

Fri, 18 May 2012 07:03:31 GMT

Gold futures moved up in US session

Gold prices increased during US session on Thursday despite broadly stronger US Dollar. Unexpected contraction of Philly Fed manufacturing index added to hopes for new round of QE in the US thus stimulating gold prices. COMEX gold June contract traded at 1,573.15 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 2.38%.

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