European Close: Equities rise on strong German data
Tuesday, March 13, 2012 - 02:37
Mar. 13 - A better than expected ZEW report lifts European stocks. Traders look to guidance later in the day from the Fed as th the direction of policy on quantitative easing.
▲ Hide Transcript
▶ View Transcript
European equities and the day -- now off to these that he W German economic sentiment index jumped to its highest in around one and a half years. The German economic institute says the west for the Euro zone is -- move on. The rest of the Euro -- is catching up with Germany still the Euro tumbles to a fresh one month lows against the dollar. Given tail wind by US retail sales posting their biggest gain. In final months. Signs and improved download for the world economy lifted bring crude have been a profit taking. Back taking some of the edge off today's rise. Looking to Wednesday as much talk about a potential second bailout for Portugal yields on the ten year bond peaking towards 14%. Now. And trading at around 47%. Discount to face value. The nation is raising taxes and cutting spending as it fights and meet the terms of its 78 billion Euro aid plan from the EU and the IMAX. Finance minister -- gas -- repairs before parliamentary commission on Wednesday and he's looking for assurances. Portugal is on track to meet its obligations. I was securities Chris recruiter says Portugal. Could go the way agrees. By the end of this year PR mess from your area will be sitting -- -- -- with coach we'll start negotiates thing. Second -- -- time and if Portugal resonates with sufficient progress with the current. Adjustment program. They may well be passed to seek a contribution from private sector bondholders. As well -- that as we've seen in Greece. Parts of the private sector may well face had cuts on its holdings next -- I want to measure of the health of the Euro zone comes in the shape of industrial output to a sell off to December's tumbled to figure should look a little more encouraging. Much of the improvement of course coming from Germany which reported stronger than expected production figures just a few days ago. Ben Bernanke speaks a day off to the F Federal Reserve policy decision market watches will be looking to Bernanke to flesh out his approach if any to further QE. While the Fed has kept mum economists say a further move is likely be within the next three months or so. UK jobs numbers like you to show unemployment continuing to rise the rate staying stubbornly high at eight point four cents. Do stay with us for updates on the -- -- -- -- -- is runs.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code