German and French Economic Disagreement

September 28, 2012 sarah Uncategorized

European stocks dipped yesterday as Germany and France disagreed on when to introduce a banking union for the Euro area and a report added to concern about the strength of China’s economy. VERITAS fell 5.3 percent after agreeing to buy Fugro NV’s seismic division for 1.2 billion Euros ($1.6 billion). TNT Express NV lost 2.6 percent as the company’s chief executive officer resigned. The Stoxx Europe 600 Index fell 0.4 percent to 274.7 at the close, its largest drop since Sept. 18. Metal producers, banks and construction companies declined. The equity benchmark has still surged 17 percent from this year’s low on June 4 as the European Central Bank and the Federal Reserve approved unlimited bond-buying programs. Consumers across the continent are facing similar issues to those in the United Kingdom, with credit related problems being faced by many. Financial products such as payday text loans such as those offered by www.paydayhighway.com are the resort many are turning to. European stock-index futures were little changed as investors awaited reports on U.S. consumer confidence and house prices. Continental AG may move as Schaeffer AG began selling a 10.4 percent stake in the tire producer. Futures on Euro Stoxx 50 Index, a benchmark for the euro region, slipped less than 0.1 percent to 2,558 at 7:30 am. Wage earners are finding that same day payday loans are an option that could be useful in tough times. The MSCI Asia Pacific Index climbed 0.7 percent to 123.41 as of 3:21 p.m. in Tokyo, paring this week’s drop to 0.1 percent. It fell yesterday by the most in two months as economic data in Japan and China disappointed investors and ahead of a weaker-than-expected U.S. unemployment report.

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