Risk evasion continued Tuesday allowing the U.S. dollar and Japanese Yen to maintain their positions against the background of lack of economic reports planned earlier. First of all, it was caused by the expansion of spreads of Irish and Italian bonds giving rise to anxiety towards some EU member states. Even Obama’s promise to cut business activity tax by $ 200 bln. couldn’t abate investors’ fears of taking risks.
France is in disarray. According to opinion polls, the popularity of French President – Nicolas Sarkozy, for many decades, didn’t not fell so low. Recently resigned two ministers and parliamentary passions abound with light hand media – series of scandals added to the charges a suspect in the corruption minister of abuse of office in obtaining funds for Sarkozy’s presidential campaign.
The DJIA ceases to grow steadily after the results of stress tests. Calling the results of stress tests bad we can not, but the Dow Jones Industrial Average lost 0.10% growth. The DJIA is a mark of 10,400.02, gaining 77.72 points (0.75%). So, seven European banks have not been stress-tests conducted to confirm the stability of the banking system of the EU.
Real Estate in Italy falls in price. Prices for apartments in Rome fell to 3,2% this year. Prices for houses in Sicily fell by 5,3%, Milan lost 4%.
Dow Jones Industrial Average has prevented all attempts to impose a bear trend. Dow index is at around 9,918.45 points, having won 174.83 points (1.79%) for the last day. DJIA rising steadily against the background of recent statements by Chinese officials and the successful closing of European stock exchanges. European stocks have grown up to the auction on Wednesday 7 July. Shares of banks were on the rise in anticipation of information on methods for stress tests. BP shares have risen in price thanks to speculation of a sale of the share of Arab investors. Pan-European Stoxx Europe 600 index rose by 1.3% to 246.06 points, Britain’s FTSE 100 – has increased by 1% to 5015 points, Germany’s DAX – on 0,8% to 5993 points, the French CAC-40 – for 1,7 % to 3483 points.
Bidding on the German market were quite spineless. During the day the indices repeatedly made attempts to growth, but on the session closed in a slight minus. The controversial macroeconomic statistics in Europe does not market to determine the further direction. In Germany, the index of business activity in the service sector in June increased slightly to 54.8, being better than expectations.
Italian airline Alitalia has joined the new venture on transatlantic traffic, created in 2009, the largest European airline Air France-KLM Group and the American Delta Air Lines. After joining the Italian company will provide up to 26% of all transatlantic traffic, which will achieve an annual revenue of more than $ 10 billion, according to a report released today Air France.
The third-largest bank in Europe UniCredit intends to purchase shares of the football club Roma. Meeting with the current owner of the shares of the club Rosello Sensi, whose family owns a majority stake of the club since 1993, will be held on July 5. However, the bank will keep a stake in the club, and in the case of reaching an agreement with Mrs. Sensei, will appoint a consultant who will select the new owner.
Nasdaq Composite, Standard & Poor’s 500 and the DJIA are not able to cope with yesterday’s bearish trend. The level of support for the stock market remains very weak. Dow Jones industrial average: 9686.48 points (-46.05 points) -0.47%, Nasdaq Composite: 2091.79 points (-9.57 points) -0.46%, S & P 500: 1022.58 points (-4.79 points) -0.47%.
FIFA World Cup 2010 showed Europe how to live. To live in a big way, western countries only need to sell their precious assets neighbors full purse. I was recently asked about how Spain should respond to the crisis. “Do not bother,” – I replied. “While they were still ahead of Honduras and Chile, we can assume that all is well.” World Cup – an old trick. Only a few countries manage to win. Some may win only when playing on their field (England in 1966, Goad and France in 1998). But someone still play where they won on every (Germany, Argentina and, if we turn to the pre-war history, Italy, Uruguay and). And only one team can not win at home, but it always wins in a foreign field. This done, the Brazilian team.
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