Net profit of De Beers in the light of special items, totaled $ 255 million compared with $ 3 million for the same period last year. Sales of diamonds rose by 84% to $ 2.6 billion, while production rose to 15.4 million carats from 6.6 million last year.
Countries can desperately cling to their credit ratings “AAA”, trying to keep borrowing costs low, but this does not mean that the corporate sector shared their concern about this issue. Average rating companies, valued agency Standard & Poor’s, dropped from “A” in 1981 to “BBB-” today.
Greek Finance Minister George Papaconstantinou said that the country in the first half of this year has reduced the budget deficit by 42%. He expressed hope that Greece will again be able to borrow in financial markets in 2011. This means that the country exceeds the indicators established by the International Monetary Fund and the European Union in terms of 110 billion euro emergency loan this year.
European stocks fell amid concern over the economic outlook. Trading volume was quite low due to the fact that the U.S. now trades do not take place because of the holiday on the occasion of Independence Day. Pan-European Stoxx Europe 600 index fell 0.2% to 236.88 points, the British FTSE 100 – on 0,3% to 4,823.53 points, Germany’s DAX – on 0,3% to 5,816.20 points, the French CAC-40 – by 0,5% to 3,332.46 points.
Dow Jones Industrial began trading on the U.S. stock market in the green zone. The level of support for the Dow Jones Industrial grows from the side. Dow index was 10,462.58 points and rose +20.17 (0.19%) at one time. Analysts were convinced that the Dow index fell in early trading due to bad data from the UK: the British Treasury believes that the growth of the British economy in 2010-2011. will be slower than predicted Labour government, who resigned in May.
BNP Paribas expects the euro / dollar at par in 2011. According to analysts, BNP Paribas, in 2011 the euro / dollar falls below parity, and will reach 0.97 by mid-year. In the short term, the bank expects rollback couples from current levels up to 1.2525. Currently, traders note the activity of German investors, who have shown interest in buying the single currency. A pair traded in the 1.2380, recovering from lows at 1.2380. Ofer noted in 1.2416/20. For the British pound have all the fun begins. I went to the countdown in anticipation of the publication of emergency budget planned for next Tuesday.
Dow Jones Industrial Average is at 10,254.53 points mark. Part of the acquired Dow Jones today points irretrievably gone. At the time the growth of Dow index is +43.46 points, or 0.43% per day. Britain announced the dire news about an hour ago: The British Office of the Fiscal Responsibility has published the first report on the development of the economy.
As they say, that foreign investors are leaving Ukraine – unreformed economy, political instability, inadequate legal framework, judicial lawlessness – too serious test for foreigners. To confirm or refute these rumors “Browser” asked the executive director of the International Fund blazer Oleg Ustenko and financial expert, Honored Economist of Ukraine Victor Suslov.
The exchange rate euro and the euro becomes a major issue for European officials. Integration of former enemies and the establishment of the single currency has become the biggest political achievement of Europe. Today, the ties that bind members of the European Union, are the most serious test for all of its existence. While there is no reason to believe that the euro is on the verge of extinction. But without good governance can not halt the process, depriving the common currency of political support.
The currency exchange rates today are very unstable. “You have to stay in short positions on the euro against the dollar, as there is no positive news from Europe” – this opinion was widely spread among traders at the time of completion of trading in New York on Monday. In finalizing the trading day European currency remained under pressure and tested against the U.S. dollar four-year lows at 1.1875/80 area. A slight recovery towards the end of the day allowed the euro to rise only slightly above the 1.1900 figure. Also during the day could be seen strong demand for gold and U.S. Treasury bonds.