May 2013

U.S GDP First quarter revised slightly lower

According to the data released from the Commerce Department, the data shown prove that the U.S economy grew an annual rate of 2.4% in the first three months of the year.

On Thursday, The department’s Bureau of Economic Analysis said that the figures were slightly slower than the 2.5% rate predicted for the quarter to 24%. Although the consumer spending were stronger than expected. Some of the other reports released on Thursday were the increased in the jobless claims in the past week and the positive signs of recovery in the housing market. Read more

Italy’s unemployment rate reaches all-time high

The unemployment rate in Italy reached an unexpected all-time high in the first quarter, according to the National institute of statistics reports released on Friday. Increased from the previous quarter of 11.4%, unemployment rate stood to an unexpected 11.9% as it picked up to 12.0% in April month-on-month.

Joblessness (ITMUURS) increased by 12 percent after March reading was revised up from 11.5 percent to 11.9 percent  ,according to reports from the  national statistics office lstat. Read more

WTI trades flat before the OPEC meeting

West Texas Intermediate crude traded close to the lowest price in four weeks, according to reports released by the American Petroleum Institute (API), which indicated that the U.S stockpiles increased the most in a month.

The report also indicates that the U.S crude inventories increased by 4.4 million barrels last week to 395.1 million barrels, the highest in over three decades.  WTI crude oil was slightly up 0.13% trading at $93.26 a barrel, while Brent crude rose up to 0.31% trading at $102.72 a barrel on Thursday morning. Read more

European stocks increases ahead of U.S data

European stocks rose from a three-week low on Thursday. Investors from around the world are predicting the U.S economy had expanded by 2.5 percent in the first quarter. Investors are still awaiting the US gross domestic product reports for the first quarter.

The Stoxx Europe 600 Index inched up 0.2 % to 303.14 at 8:08am GMT .While the German’s DAX reduced by 0.10% to 8,328.29, Standard & Poor’s 500 index fell by 0.1% .Franc e CAC 40 increased by 0.43% to 3,990.82 and the UK’s FTSE 100 gained 0.27% to 6,645.30. Read more