DAILY

22nd January 2014

PSI20: -3.31% DAX30: -0.10% FTSE100: -0.12% S&P500: +0.06% NIKKEI225: +0.16%
PSI 20 fell more than 3% with investors selling national assets in order to participate in the Spanish issue. The banking sector was the most affected, with BCP falling 10.3% and BES 5.08%. More >> Of all the EU countries, Portugal has recorded the biggest drop of the weight of public debt in GDP in the third quarter of last year compared with the previous three months. More >> The financial performance of Social Security in 2013 was better than estimated in the budget proposal for 2014. Preliminary figures show a surplus of around 0.2% of GDP. More >> European shares edged up, led by robust results from Dutch technology firm ASML on Wednesday, but concerns about earnings across the broader market kept a lid on the day's advance. More >> The Madrid-based Treasury issued 10 billion euros of a new 10-year benchmark bond maturing in April 2024, the highest amount ever placed through a syndication. More >> In a report, the U.K. Office for National Statistics said that the rate of unemployment ticked down to 7.1% in November from 7.4% in October. Analysts had expected the jobless rate to fall to 7.3%. More >> U.S. stocks were mostly higher on Wednesday as Wall Street found little clarity in quarterly results from companies including Texas Instruments, Norfolk Southern and International Business Machines. More >> Netflix reported earnings of 79 cents per share on revenue of $1.18 billion for the fourth quarter of the year. Analysts had expected earnings per share of 66 cents on sales of $1.17 billion. More >> Texas Instruments said it would eliminate 1,100 jobs in the United States, India and Japan, becoming the second major U.S. chip manufacturer to announce employee reductions in the past week. More >>

Asian equities were mostly higher with Shanghai leading gains as fears of a credit crunch eased while regional central bank decisions were in focus. More >> The Bank of Japan kept monetary policy steady and maintained its upbeat consumer inflation forecasts, encouraged by signs that a broadening economic recovery may nudge firms into spending more on wages and investment. More >> Doubts over the Chinese governments ability to cope with escalating debt are showing up in record borrowing costs for the nations policy banks. More >>

OIL (WTI $96.64/bl; +1.53% / Brent $108.11/bl; +1.19%): Oil prices rose on speculation that U.S. distillate fuel supplies slid as falling temperatures bolstered heating demand. More >> NATURAL GAS ($4.693/MmBtu; +5.17%): Natural gas prices soar as powerful winter storm pummels eastern U.S. More >> GOLD ($1236.60/oz t; -0.49%): Gold declined amid concern that the Federal Reserve will continue lowering U.S. stimulus, reducing the demand for the metal as a store of value. More >>

DISCLAIMER: Daily Briefs contains a summary of financial news covered on conventional news services around the world. Daily Briefs coverage of subjects is based on t whims of its volunteer contributors. FEP Finance Club is not responsible for any imprecision or error in the content of any news.