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    Daily 07.11.2013

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    FEPFinanceClub
    - The PSI-20 index in Portugal closed in negative territory, following the broader European trend, despite an interest rate cut by the ECB that initially boosted markets. Unemployment in Portugal fell slightly while profits for REN declined due to lower returns and higher costs. - European stocks closed flat after initially rallying on the ECB's surprise interest rate cut, while the US markets declined sharply in reaction to the rate cut and GDP growth data. Twitter shares jumped more than 70% in their IPO. - Asian shares fell on caution ahead of the ECB meeting while the Australian dollar declined as employers cut full-time jobs and rates are expected to remain low. Oil and gold futures declined on speculation the

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    Daily 07.11.2013

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    - The PSI-20 index in Portugal closed in negative territory, following the broader European trend, despite an interest rate cut by the ECB that initially boosted markets. Unemployment in Portugal fell slightly while profits for REN declined due to lower returns and higher costs. - European stocks closed flat after initially rallying on the ECB's surprise interest rate cut, while the US markets declined sharply in reaction to the rate cut and GDP growth data. Twitter shares jumped more than 70% in their IPO. - Asian shares fell on caution ahead of the ECB meeting while the Australian dollar declined as employers cut full-time jobs and rates are expected to remain low. Oil and gold futures declined on speculation the

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    - The PSI-20 index in Portugal closed in negative territory, following the broader European trend, despite an interest rate cut by the ECB that initially boosted markets. Unemployment in Portugal fell slightly while profits for REN declined due to lower returns and higher costs. - European stocks closed flat after initially rallying on the ECB's surprise interest rate cut, while the US markets declined sharply in reaction to the rate cut and GDP growth data. Twitter shares jumped more than 70% in their IPO. - Asian shares fell on caution ahead of the ECB meeting while the Australian dollar declined as employers cut full-time jobs and rates are expected to remain low. Oil and gold futures declined on speculation the

    Copyright:

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    40 views1 page

    Daily 07.11.2013

    Uploaded by

    FEPFinanceClub
    - The PSI-20 index in Portugal closed in negative territory, following the broader European trend, despite an interest rate cut by the ECB that initially boosted markets. Unemployment in Portugal fell slightly while profits for REN declined due to lower returns and higher costs. - European stocks closed flat after initially rallying on the ECB's surprise interest rate cut, while the US markets declined sharply in reaction to the rate cut and GDP growth data. Twitter shares jumped more than 70% in their IPO. - Asian shares fell on caution ahead of the ECB meeting while the Australian dollar declined as employers cut full-time jobs and rates are expected to remain low. Oil and gold futures declined on speculation the

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    DAILY

    07thnovember 2013
    PSI20: -0.12% DAX30: +0.44% FTSE100: -0.66% S&P500: -1,32% NIKKEI225: -0.76%
    PSI-20 followed European trend, closing in negative territory, despite having been thrilled by the surprise cut in interest rates by the ECB. PT and energy sector were instrumental in this fall. More>> The unemployment rate in Portugal decreased to 15.6% in the third quarter compared to 16.4% recorded in the previous three months. Analysts had expected it to fall to 16.1%. More>> REN showed profits of 89.3 million by September, representing a decline of 9.2% (YoY). Falling return on regulated assets and increased financial costs incurred by the company were the main factors. More>> European equities closed flat on Thursday, despite initially rallying after the European Central Bank (ECB) cut its main interest rate to 0.25 percent from 0.50 percent. More>> The ECB said it was lowering its benchmark interest rate to a record-low 0.25%, confounding expectations for the central bank to hold rates steady. More>> The BoE maintained benchmark interest rate at 0.50%. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at GBP375 billion. More>> U.S. stocks declined sharply, with the DJIA halting its record advance. Investors reacted to an unexpected rate cut by the ECB and a read on third-quarter U.S. economic growth. More >> Twitter opened at $45.10 a share, more than 70 percent above its IPO price of $26 a share. The stock is trading under the ticker symbol "TWTR." More >> The U.S. economy grew more-than-expected in the 3rd quarter of 2013, fuelling speculation the Fed will begin tapering its asset purchase program sooner-than-expected. More >>

    Asian shares fell as caution ahead of the European Central Bank's policy meeting later overshadowed potential gains from Wall Street's record finish.More>> Australian employers cut full-time workers in October by the most in more than a year, sending the local dollar lower as traders increased bets the central bank will keep interest rates at a record low.More>> A slump in Hong Kongs benchmark yuan interest rates, even as a cash squeeze inflates onshore borrowing costs, is laying the foundation for a revival of the weakest Dim Sum market on record.More>>

    OIL (WTI 94.39$/bl; -0.52%; Brent 103.44$/bl; -1.38%) and GOLD (1309.20$/oz t; -0.64%): Oil and Gold futures declined, after upbeat U.S. third-quarter growth data boosted speculation the Federal Reserve could begin to taper its stimulus program sooner than expected. More on oil>> More on gold>> NATURAL GAS (3.527$/MMBtu; +0.77%): Natural gas prices rose on Thursday after U.S. data revealed the country's supply levels met expectations last week, while forecasts for a cool snap across the central and eastern U.S. also bolstered the commodity. More >>

    DISCLAIMER: Daily Briefs contains a summary of financial news covered on conventional news services around the world. Daily Briefs coverage of subjects is based on t whims of its volunteer contributors. FEP Finance Club is not responsible for any imprecision or error in the content of any news.

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