DAILY REPORT 25/06/14 Eurozone economic news European stocks trades in the lowest level in three weeks
The main European stock indexes operate Wednesday's session lower, driven by the tensions of the situation in Iraq continues to hit global markets. The English FTSE operates down 0.89%, yielding 60 units before the opening of the U.S. market. In Germany the DAX index lost 0.74% of its value, falling again into the 10 thousand points. France meanwhile leads the downward movement, with a depreciation of 1.20% after half-time operations on the European continent. Concerns about Iraq The impact of the situation in Iraq has affected global markets. There are few signs that Iraqi leaders are responding to pressure that are generating the main heads of the most powerful countries in the world face the situation in Iraq. The Secretary of State, John Kerry, was in China on Tuesday where government forces managed to arrest a group of militants who attacked the 'country's largest refinery. Tomorrow: The President of the Bank of England, Mark Carney, will give a talk about financial stability in London
Economic News Asia
Asia closes lower on tensions in Iraq. Major Asian stock indexes closed Wednesday's session down after a negative day in the U.S. market and the new tensions in Iraq. The Japanese Nikkei lost 0.71 of its value, yielding 109 units along the wheel. In China, the Hang Seng Index traded slightly lower, falling 0.06% while Shanghai depreciated by 0.41%, closing on 2025 points. In Australia the S & P / ASX 200 index had a negative change of 0.57%, closing lower for a third day. Japan Down Japanese shares closed at their lowest level in the last week as investors took profits after the Nikkei 225 index reached its highest level in five months. The market reaction to the reform of the Japanese economy, released by Prime Minister Abe after the close on Tuesday, did not have a major impact on the capital market of the country. Abe failed to detales critics as intended to carry out the growth strategy for the Asian country. The main points of the reform are a cut in corporate taxes, increased participation of female gender and foreign communities.
Tomorrow: • Do not be announced relevant data during the day
Economic and corporate news United States First quarter GDP shrinks more than expected During Tuesday's session in the U.S. market the major stock indexes closed lower, despite good economic data were released during the conference. The Dow Jones Industrial lost 0.70% of its value, yielding 119 units throughout the day. The S & P 500 had a contraction of 0.64%, closing over 1949 points after the index presented a setback after opening higher. The Nasdaq Composite fell 0.42%, losing just under 20 units for yesterday. U.S. growth The U.S. economy contracted at a higher than expected during the first quarter of 2014 happened, officials said before the opening on Wall Street. The Commerce Department said that GDP of the first quarter of the year fell 2.9% (annually), the worst performance of the economy during the last 5 years. At first contraction was awarded to adverse weather that hit the United States during the early months of the year. However today's data suggests that other factors, apart from the weather, hit the economy. The difference between the second and third estimate was the highest since 1976, according to the Commerce Department. Economists had expected the revised GDP showed a contraction of 1.7%, well above that recorded this morning. Tomorrow: • The Labor Department will release the report weeks of initial unemployment claims. Are expected to register at 311 000 requests in line with last week. • Consumption and income are known personar May. An increase of 0.4% is expected for the month.
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