Forex – Commodities – Stocks: Headlines of August 25th

BinaryOptionsNow | Published on August 25, 2011 at 7:38 am

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 Here are the main headlines of the day about the Forex, Commodities and Stock markets:
  • US Equities rose for a second consecutive session on Wednesday led by gains in financials. This morning, most Asian shares trade in positive territory, supported by gains on Wall Street yesterday.
  • France slashed its growth outlook and announced €12 billion euros in extra budget savings this year and next, ranging from cuts in tax exemptions to a new levy on the wealthy.
  • Libya’s new masters will meet their Western backers in Turkey today to secure funds and make plans for a future without Gaddafi after they announced a million dollar bounty for his capture.
  • Rating agency Standard & Poor’s raised the Czech Republic’s credit rating by two notches, from A to AA-, saying the move reflected a change in methodology as well as fiscal reforms in the central European country. The Czech koruna profited, gaining 0.7% against the euro. S&P decided yesterday also to raise the outlook on Slovakia’s A+ rating to positive, adding that it may upgrade the state if it delivers on promised public deficit cuts.
  • Apple co-founder Steve Jobs has resigned as CEO seven months after going on medical leave and asked the board to name COO Tim Cook as his successor. Shares fell more than 5% in after-hours trading.
  • Gold prices dropped yesterday for a second consecutive session, falling more than 5% and bringing an end to the impressive rally of the previous weeks spurred by a flight to safety.
  • Today, the eco calendar contains the US jobless claims and UK CBI distributive trades report.

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Source: KBC


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