Posts Tagged ‘euro’
Euro falls on Portugal debt rating downgrade
Credit rating agency Moody’s Investor Service has today cut Portugal’s debt rating by two notches, sending the euro down against the dollar and the pound.
Moody’s downgraded Portugal’s rating by two notches to A1, citing weak growth and suggesting it may need fresh austerity measures next year to reach fiscal targets.
However, in a statement, Portugal’s finance [...]
European shares down on banking concerns
There are fresh concerns over the European banking sector after banks are scheduled to repay €442 billion (£362 billion) worth of loans to the European Central Bank (ECB) later this week.
Shares in Europe hit a three-week closing low today as a result. Furthermore, shares were hit by a sharp fall in US consumer confidence [...]
Chinese exports surge 50% on year in May
Chinese exports grew by around 50% in May compared with a year earlier, according to sources, which fuelled a recovery in Asian stocks today.
The figure, which is set to exceed expectations of a 32% rise, comes after China overtook Germany as the world’s biggest exporter earlier this year. Germany had held the top spot since [...]
Global stock markets down on US jobs data and Hungary debt fears
Asian stock markets were down earlier today while European stock markets followed suit over disappointing US jobs data on Friday and fears that Hungary could suffer a Greek-style debt crisis.
Earlier today, Japan’s Nikkei 225 closed down 3.8% – its biggest daily fall in 14 months, while the Chinese Hang Seng index lost 2.3%.
European markets followed [...]
Euro zone unemployment rate reaches record high
The European Union’s statistics agency has today announced unemployment in the 16-member euro zone rose to 10.1% in April – the first time it has reached this level since the common currency was introduced in 1999.
The rise in the jobless rate highlights the sluggish recovery within the euro zone.
Eurostat said 15.86 million people [...]