June 2013

Gold drops below $1,200, while still negative

The yellow metal fell to its lowest level in almost three years, dropping as low as $1,179 per ounce. Gold fell after the US Federal Reserve hinted it could cut back its stimulus program.

Gold futures fell 0.83 percent standing at $1,201.25 an ounce at 8.04am GMT, while the silver futures rose 1.70 percent trading at $18.700 an ounce at the same time. Read more

European stocks falls before U.S economic reports

The European stocks were trading slightly lower as investors await US reports on consumer prices from the region’s major economies. The market processed the previous session’s optimism over a deal on the region’s future bailout regulation.

The Stoxx 50 tumbled 0.40% to 2,609.47 as of 10.40am GMT, while Germany’s DAX lost 0.18% to 7,976.23 at the same time. The British FTSE 100 lowered by 0.11% to 6,236.80 and the French CAC 40 declined 0.48% at 3,744.09. Read more

Europe stocks mixed while EU talks banking union

The European stocks were trading mixed in the midday session on Thursday, after the European Union finance ministers finalized a deal regarding future bank failures.

The European Union finance ministers settled on a deal about bank bailouts in the future .The new rules shows that bondholders, depositors and shareholders with over 100,000 euros, should share the weigh down of saving a bank. Read more

German unemployment drops in June

According to the German labor agency, the unemployment count in European powerhouse Germany dropped in June.

Registered unemployment in June dropped by 12,000, the first fall since January, according to reports released. However, the unemployment rate remained the same at 6.8% in June, while analysts predicted the reading would go up slightly to 6.9%. Read more

Asian market varies after US data

The Asian market were trading mixed on Wednesday, with the Shanghai Composite index opening at a negative territory, while the Australian and Hong Kong shares climbed overnight after the better-than-expected US data was released .

The Japanese Nikkei 225 closed at 1.04% to 12,834.01, while the Topix index closed down at a low 0.9% to 1,069.28.

Shanghai Composite slid 1.02% to 1.02% to 1,931.16 at 6:03am GMT, while in Hong Kong, the climbed 1.12% to 20,079.27 at the same time. Read more