DAILY

5th June 2013

PSI20: -1.00% DAX30: -1.20% FTSE100: -1.59% S&P500: -1.38% NIKKEI225: -3.83%
Recession for the 1Q of the year may be worse than initially forecasted by INE. The new estimate fixes recession at 4%, far from the government goal of 2.3%. More>> Financing costs for corporations have increased during April. Banks require higher interest rates and as a consequence investment dropped. More>> PSI 20 follows European downtrend and falls by 1%. Galp and Jeronimo Martins have recorded the worse performance in the day where only 3 stocks contradict general movement. More>> Polish central bank Governor Marek Belka signaled that the end of monetary easing may be nearing after policy makers cut borrowing costs to a record low as the economy faces a slowdown. More>> 5 years after Latvia posted the EUs fastest inflation this century, the Baltic country where wages are less than a quarter of Germanys has got the green light to become the euro regions 18th member. More>> European stocks retreated to their lowest level in six weeks as investors weighed comments by Federal Reserve policy makers on when to scale back the central banks bond-buying program. More>>

Stocks tumbled, sending U.S. benchmark indexes to one-month lows, while Treasuries rallied as investors weighed prospects for economic growth and the Federal Reserves stimulus plans. More>> Activity in the vast U.S. services sector picked up slightly in May, though growth was still lackluster and a measure of employment fell to its lowest level in close to a year. More>> Private-sector job creation was weaker than expected in May, as the economy struggled to break free of what appears to be a summer slowdown on the horizon. More>>

In another volatile afternoon session, Nikkei tumbled 3.8% to a new 2-month low on Wednesday while the yen inched higher after Shinzo Abe's third "Abenomics" arrow failed to impress investors. More>> Australias economy expanded at slowest annual pace in almost 2 years as manufacturers and builders detracted from growth, sending the AUD lower as bets on further interest-rate cuts increase. More>> Activity in China's services sector expanded modestly in May but the pace of growth was little changed from April, adding to worries about slowing momentum in Chinese economy. More>>

OIL (WTI 93.82 $/bbl; +0.11% / Brent 102.94 $/bbl; -0.51%): Brent crude reversed course after poking above $104 on Wednesday, after data showing fuel stockpiles fell in the United States gave way to a broader sell-off engulfing the stock market. More>> GOLD (1401.35 $/oz t; +0.23%): Gold prices settled nearly flat on Wednesday. Earlier, prices rose after U.S. jobs data missed expectations, curbing speculation the Federal Reserve may start paring back its $85 billion monthly bond-buying program. More>>

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