DAILY

23rd May 2013

PSI20: -1.16% DAX30: -2.10% FTSE100: -2.16% S&P500: -0.29% NIKKEI225: -7.32%
Budget deficit increased by 1000 million during the last month, still is far from Troika limit of 4500 million for the 2Q. More>> The government announced fiscal incentives by the possible reduction in IRC - corporate income tax, to a limit of 7,5% for companies who invest. More>> PSI 20 falls for the fourth session in a row led by a selling pressure. Yet, it suffered the lower fall compared to other European stock markets. PT increased 2.1% counteracting major trend. More>>

Spanish and Italian bonds led losses among the securities of Europes peripheral nations as Chinas manufacturing, euro-area services and factory output all contracted, sapping demand for higher-yielding assets. More>>

European stocks dropped the most in 10 months after the Federal Reserve signaled it will scale back its

stimulus if the U.S. economy improves and as data showed Chinese manufacturing shrank. Banking industry decreased and trade volume was 24% higher than 30 day average. More>>

Stocks closed modestly lower rebounding sharply in a volatile session as market participants weighed better U.S. economic data against the fears the Fed may soon start to curtail its bond buying. More>> Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 340,000, pushing back below the 350,000 mark that economists normally associate with a firming job market. More>> U.S. manufacturing slowed for a second month in May as weak overseas demand and government belttightening at home led to the sector's most sluggish rate of growth since October. More>>

A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy were behind a major sell-off Thursday in Japan's equity markets. More>> The unexpected contraction in China's factory activity in May has heightened the risk of a further slowdown in Q2, after the economy grew at its slowest pace in 3 years over January to March. More>> Singapore's economy may have grown unexpectedly in the Q1 of the year but the manufacturing sector remains weak and that's not a great sign for the export-dependent economy More>>

GOLD (1389.65 $/oz t; +2.03%): Gold prices rose after a high-ranking Federal Reserve official suggested stimulus policies will stay in place for now. More>> COPPER (3.321 $/lb; -1.23%): Copper fell the most in three weeks after manufacturing shrank for the first time in seven months in China, the worlds biggest user of the metal. More>> NATURAL GAS (4.261 $/MMBtu; +1.61%): Natural gas prices jumped up after US official data showed supplies rose less than expected last week. More>>

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